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).
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.
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.
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 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.
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 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' 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.
ABB is buying Alstom’s ring motor business to enhance its gearless mill drive (GMD) activities. The business, based in Bilbao, Spain, has about 120 employees and achieved a turnover of €57m in 2012/13. It will become part of ABB’s Process Automation division. The financial details of the deal have not been revealed.
Sales of medium- and high-voltage motors in South-East Asia will climb from $615.4m in 2012 to reach $802m by 2019, according to a new forecast from Frost & Sullivan.
Sales of variable speed drives for use in natural gas applications in North America are growing 1.5 times faster than the general drives market, according to a new report. The analyst Frost & Sullivan says the growth is being driven by the rapid expansion of shale gas extraction, an increase in natural gas exploration and production, and new investments in transport infrastructure.
Schneider Electric has launched a $5bn bid to buy the British industrial software and control systems supplier Invensys. Invensys’ board has told Schneider that it is likely to recommend that its shareholders should accept the offer, but there is speculation that other bidders may enter the fray, possibly including Emerson, GE or ABB.
The global market for operator terminals shrank by 3.3% during 2012, to a total value of $2.2bn. The decline, following two years of strong double-digit growth, was due largely due to the prices of operator terminals falling by an average of 4% during the year, according to a new report from IMS Research, now part of IHS.
Global sales of motors used to drive electric and hybrid vehicles will grow from $965m in 2013 to more than $2.8bn by 2020, according to a new report from Navigant Research.
The American bearings supplier New Hampshire Ball Bearings (NHBB) has acquired the German firm Cerobear, which specialises in producing bearings incorporating advanced ceramics.