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17 September, 2018

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In brief

01 May, 2003

• Sauer-Danfoss is acquiring a majority share in Comatrol, the Italian manufacturer of cartridge valves and hydraulic intergrated circuits (HICs). The takeover comes a year after Sauer-Danfoss took a minority share in Comatrol, which employs 90 people and has a turnover of $21m.

• SKF has bought Scandrive Control, a Swedish manufacturer of integrated servo gears for the printing industry. The company employs 22 people and has an annual turnover of SEK30m (£2.26m).

• Dynamics Research Corporation has sold its encoder division to Canadian motion controls and manufacturing systems specialist, GSI Lumonics, for $3.3m in cash. GSI will integrate the business, with sales of $6--7m, into its component products group

• The two founders and former majority shareholders in Panametrics have filed a lawsuit in the US charging General Electric with securities fraud, breach of contract and deceptive business practices when it acquired Panametrics last year. David Chleck and Edmund Carnevale are seeking at least $25m in compensatory damages, as well as punitive damages. GE Panametrics makes ultrasonic testing equipment and process control instrumentation. GE refutes the allegations.

• Cognex has bought Siemens Dematic`s wafer identification business, which is the leading supplier of such systems to Europe`s semiconductor manufacturers. Cognex says that it already the leading supplier of wafer identification systems in North America and Asia.

• At the recent Hannover Fair, Pilz announced the formation of a new division to provide consultancy services to customers around the world. The division formalises an informal arrangement which has operated for several years through which Pilz has offered services such as risk assessment. It will now offer a broader range of services covering issues such as standards and legislation.

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