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September News in Brief

01 September, 2010

♦  The global market for integral horsepower (IHP) motors will reach $12.1bn by 2015, according to a new forecast from Global Industry Analysts. It says that the global financial crisis significantly affected demand for IHP machines and that fluctuating process for raw materials such as copper, aluminium and steel have affected manufacturing costs and consequently prices. The fastest-growing market is the Asia-Pacific region where a CAGR of more than 3% is forecast for the period 2007–2015.

♦  ContiTech has taken full ownership of its ContiTech–Jiebao Power Transmission Systems joint venture by acquiring the 40% stake previously held by its Chinese partner, the Ningbo Jiebao Group. The operation, which started in 1999, employs 120 people and makes 700,000 automotive and 200,000 industrial belts a year. It has been renamed ContiTech Power Transmission (Ninghai).

♦  Eriks has acquired SKF Economos Belgium and changed its name to Eriks Rubber & Plastics. The operation, with about 20 employees, supplies advanced engineering plastics.

♦  WEG has acquired a Brazilian sensor manufacturer called Instrutech. The company, founded in 1985, had sales worth around $5.5m last year.

♦  Despite declining during 2009, the global market for gears, drives and speed changers is expected to surge in the coming years. A new report from Global Industry Analysts says that Europe remains the largest market, accounting for more than 30% of global sales, but Asia-Pacific is the fastest-growing region with an annual growth rate predicted to be more than 5% for the next few years.

♦  The global market for engineering research and development (ER&D) services has defied the downturn with revenues rising from $980bn in 2008 to $1,100bn in 2009. The consultancy Booz & Company forecasts that sales will reach $1,400bn by 2020.

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