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Siemens Automation and Drives is forming a joint venture with Jingyi Electrical Apparatus to establish a low-voltage circuit-breaker joint venture in Shanghai, China. Siemens Low-Voltage Circuit Breaker Co will employ about 400 people and will develop and manufacture LV breakers and market them worldwide.
An EU-wide system for the mutual recognition of professional qualifications including engineering has moved a step closer with the European Parliament`s second reading vote on a new directive covering professions. The adopted motion recommends mutual recognition of the qualifications of other EU countries, and the introduction of cards with information on a professional`s career.
Intel, Cisco Systems and the Paladin Capital Group have invested $12m in the US-based wireless sensor specialist Crossbow Technology. The funds will be used to expand Crossbow`s international operations and its r&d activities. Intel first invested in Crossbow in 2002.
Metso Drives has changed its name to Moventas following its acquisition in April by the private equity investor, CapMan. The company, which manufactures mechanical power transmission equipment, has sales of 157m and employs around 900 people at eight locations in Europe and North America.
Ormec and National Instruments have formed a strategic relationship to market NI`s new SoftMotion controller with Ormec`s FireWire-based ServoWire SM drives. NI`s LabView graphical development package will be used as the front-end to create distributed motion applications.