• SKF is closing two plants in the US, with the possible loss of 300 jobs. Most of the production from the plants in Pennsylvania and New York State will be transferred to other US plants, but some will move to Mexico.

• Michael Bless, Rockwell Automation`s chief financial officer since 2001, is leaving the company. Bless, 38, describes it as "a terribly difficult decision," adding that "now is simply the right time for me to take this opportunity to spend some time with my family while I assess the next phase of my business career".

• The Indian-based Controls & Switchgears group has bought Schneider Electric`s 38% stake in their joint venture, Telemecanique & Controls India, which makes contactors and overload relays.