25 Jul 2024


June News in Brief

º Sweden’s Beijer Electronics has bought the German HMI specialist Elektronik-Systeme Lauer from Augusta Technologie, for around €6m. Lauer, which has 60 employees, is expected to achieve sales worth €14m this year, with 80% of this coming from Germany.

º Sweden’s Trelleborg Sealing Solutions has bought the US-based precision bearing and sealing devices specialist, Hydro-Components Research and Development. HCRD, which has sales worth around £3.6m, focuses on large-diameter seals and bearings.

º The polymer bearing specialist, GGB (formerly Glacier Garlock Bearings) is to start manufacturing high-performance metal-polymer and filament-wound bearings in China later this year.

º Tesla Motors, the Californian company developing an all-electric sportscar, has created a new division, Tesla Energy Group, which will supply up to $43m worth of advanced lithium-ion battery packs to another electric vehicle manufacturer, Think Global, for use in urban EVs. Deliveries start later this year.

º Magnetic Torque International has acquired another US company, Panaphase Technologies, which researches and designs electric motors, and is based at the Virginia Tech Corporate Research Centre. Panaphase’s specialities include variable reluctance and permanent magnet motors and drives.