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SKF is buying Kaydon Corporation for $1.25bn

SKF is buying the US-based bearings and velocity control manufacturer, Kaydon Corporation, for around $1.25bn, including $95m of debt. Kaydon, which makes bearings, velocity control products such as shock absorbers, and other specialised products, had sales worth $475m in 2012, with an operating profit of around 16% and more than 2,100 employees.

Metso sells belts businesses to German pair

The Finnish group Metso is selling parts of its industrial rubber conveyor belt manufacturing business to two German companies, ContiTech’s Conveyor Belt Group and the Lutze Group.

Lack of enforcement and exemptions sustain IE1 motor sales

Standard-efficiency IE1 motors still represent a significant portion of revenues in low-voltage (LV) motor markets that are meant to be moving to to higher efficiencies under government mandates.

Allied Motion buys Globe for $90m to double in size

Allied Motion Technologies is buying the US motor manufacturer Globe Motors on a cash-free, debt-free basis from Safran USA, for around $90m in cash.

Cyber-security standard tackles risks of using IT measures

The ISA (International Society of Automation) has published a standard that addresses the risks that arise from the growing use of business IT cyber-security measures to address cyber-security in complex and dangerous manufacturing and processing applications.

Latin American drives growth drops from double-digit highs

Sales of low-voltage AC and DC motor drives in Latin America will expand from $420m in 2012 to $595m in 2017 – with a CAGR (compound annual growth rate) of 7.1% – according to a new forecast from IMS Research, now part of IHS.

China is causing a ‘shakeup’ in the pneumatics market

A “teeming mass” of Chinese manufacturers of pneumatic valves and actuators is expanding aggressively into the US and European markets, causing a competitive shakeup, according to a new report from the market analyst, IHS.

Motion control sales fell by 6.8% in first half of 2013

Global shipments of motion control products fell by 6.8% in the first half of 2013, according to statistics released by the industry trade group, the Motion Control Association (MCA). 

China’s rare-earth producers face a series of setbacks

It appears that Chinese attempts to restrict its exports of rare-earth materials and to raise their prices may have backfired. Exports last year were more than 40% down on their peak levels, prices have dropped, some producers have gone out of business, and illegal mines and smugglers are thriving.

McMaken succeeds Tsavalas as Eaton’s EMEA president

Eaton has appointed Kurt McMaken as its EMEA (Europe, Middle East, and Africa) region president. He succeeds Yannis Tsavalas who has been president since 2009 and is moving on to a new role as senior vice-president for strategic initiatives in Eaton’s electrical sector.

Almost half of automation sales are now in Asia-Pacific

The Asia-Pacific region spends more on industrial automation products than anywhere else in the world, with 46% of global expenditure in 2012 – equivalent to $76.6bn – says a new report from IMS Research, now part of IHS.

Rockwell launches three-pronged cyber-security plan

Rockwell Automation has announced an initiative to help manufacturers to cut risks to their control systems from cyber-security threats. The initiative aims to help automation and IT professionals to secure industrial processes more effectively using a combination of control system design, best practices, technologies and services from Rockwell and its strategic partners, including Cisco.

Misumi announces discounts of up to 59% across 50 categories

The mechanical components manufacturer Misumi is introducing discounts of up to 59% for large volume orders for factory automation and machine-building products in more than 50 categories, including linear motion equipment, gears, pulleys and bearings. The reductions depend on the type of equipment and the quantity ordered.

Schneider’s £3.4bn takeover of Invensys goes ahead

Schneider Electric’s takeover of Invensys is going ahead without the bidding war that some observers had predicted. The French multinational is paying £3.4bn ($5.2bn) for UK-based Invensys, making it Schneider’s biggest acquisition since it bought American Power Conversion for $6.1bn in 2006.

Siemens CEO is ousted and succeeded by CFO

Siemens' chief executive Peter Löscher has resigned “by mutual consent” and been replaced as president and CEO by the company’s chief financial officer, Joe Kaeser. The changes take effect from 1 August, 2013.