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Cargotec establishes joint venture in China
Cargotec has established Sinotruk (Shandong) Hiab Equipment Company Ltd, a joint venture with China National Heavy Duty Truck Group Co., Ltd. (CNHTC), in China. Cargotec’s ownership in the joint venture is 50%. The plans for the joint venture were published in July 2012. Cargotec’s estimated equity investment in the joint venture during the first operational year is approximately €10 million.
CNHTC is a leading Chinese manufacturer of heavy-duty trucks and the parent company of Sinotruk. CNHTC’s extensive network, including dealers and service stations all over China, will be used by the joint venture for the distribution, sales and services of Hiab’s cranes and hooklifts.
The joint venture will also further develop CNHTC’s existing truck crane offering and production base for the Chinese market. By combining both companies’ technical know-how, the joint venture is expected to become a significant player in the truck crane business in the near future, particularly in China. Visit: www.cargotec.com
Boeing and Saab sign joint development agreement
Boeing and Saab AB have signed a joint development agreement (JDA) to jointly develop and build a new advanced, cost-efficient T-X Family of Systems training solutions for the upcoming competition to replace the US Air Force’s aging T-38 aircrew training system. The JDA, with Boeing as the prime contractor and Saab AB as primary partner, covers areas including design, development, production, support, sales and marketing.
“Teaming with Saab will bring together our companies’ formidable technical expertise, global presence, and willingness to present an adaptable and affordable advanced pilot training solution,” said Boeing Military Aircraft president Chris Chadwick. “Boeing and Saab form the foundation for what will be the strongest, most cost-effective industry team.”
The US Air Force T-X program will include aircraft and training that will prepare warfighters for the next 40 years. The Air Force plans to replace the T-38 with a new Advanced Pilot Training Family of Systems and about 350 aircraft, plus associated ground-based training systems and logistics and sustainment support. The trainer solution from Boeing and Saab and other potential team members will be a newly designed aircraft, built to meet the needs of the USAF. Visit: www.saabgroup.com
Fortum has agreed to sell its electricity distribution business in Finland to Suomi Power Networks Oy, which is owned by a consortium of Finnish pension funds Keva (12.5%) and LocalTapiola Pension (7.5%) together with international infrastructure investors First State Investments (40%) and Borealis Infrastructure (40%).
The total consideration is €2.55 billion on a debt- and cash-free basis. Fortum expects to complete the divestment process during the first quarter of 2014 subject to the necessary regulatory approvals as well as customary closing conditions. A total of 320 employees will transfer with the business at closing with existing terms of employment.
Fortum’s electricity distribution business in Finland includes two jointly managed grid companies: Fortum Espoo Distribution Oy, with grids in the city of Espoo and surrounding communities and the city of Joensuu, as well as Fortum Sähkönsiirto Oy, with several grid areas located mainly in southern and western Finland, but also in the north-western part of the country. The combined network length of the companies is 79,000km, delivering approximately 12.6 terawatt- hours of electricity to customers. Fortum’s market share of the local electricity distribution in Finland is approximately 20%. Visit: www.fortum.com
Dassault Systèmes to acquire Realtime Technology AG
Dassault Systèmes has announced the signing of an acquisition agreement for an 84% controlling interest in Realtime Technology AG (RTT), the leading provider of professional high-end 3D visualisation software, marketing solutions and computer generated imagery services, benefiting from the development of the fast-growing marketing automation market.
This acquisition of Munich-based RTT will include its software division, known for its DeltaGen, PictureBook, POS Configurator and other solutions, and its marketing consulting services. It will also include subsidiary Bunkspeed, with its line of powerful and intuitive rendering software. RTT’s list of customers includes Hugo Boss, adidas, Airbus, Audi, BMW, Daimler, Electrolux, Eurocopter, Ferrari, General Motors, Harley-Davidson, Nissan, Porsche, The North Face, Toyota and Volkswagen.
“The people at RTT have demonstrated remarkable talents in delivering innovative solutions to their clients,” said Bernard Charlès, president & CEO of Dassault Systèmes. Visit: www.3ds.com
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Clariant to acquire Indian masterbatch producer
Clariant, a world leader in speciality chemicals, has announced the intention to acquire Plastichemix Industries, a masterbatch business in India, located in Vadodara with production facilities in Rania, Kalol and Nandesari in Gujarat (India). Plastichemix Industries is a leading supplier of black, white, filler and colour masterbatches, additive masterbatches, flushed pigments and mono-concentrates as well as engineering plastics compounds.
With this acquisition, Clariant Chemicals (India) Limited (CCIL) will gain a leading position in the masterbatches business in India. The deal will enable the company to offer a strong and extensive product portfolio with customised products and solutions and to expand its customer base significantly. As part of the future business approach an upgraded Technical Service Laboratory will be introduced to offer the market highly innovative and customised products.
“This acquisition is part of our global strategy to explore business opportunities in our Masterbatches business and to focus on emerging markets like India. The strong growth perspective of the plastics industry results in a bright future for the masterbatches business in India,” says Hariolf Kottmann, CEO of Clariant. Visit: www.clariant.com
Atlas Copco buys Swedish drilling equipment company
Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Geawelltech, which sells, rents out and manufactures well- and geotechnical drilling equipment.
Gruv Entreprenad Anläggning Welltech System AB, based in Jonsered, Sweden, has annual revenues of about MSEK 90. Geawelltech has for many years been an Atlas Copco distributor of well- and geotechnical drilling equipment, and the majority of revenues are generated from this business. The company also manufactures drilling rigs suitable for a wide range of applications.
“Geawelltech has a strong position in Sweden as a one-stop shop supplier for customers within well- and geotechnical drilling,” said Johan Halling, business area president, Atlas Copco Mining and Rock Excavation Technique. “Ground engineering is a strategic segment for us, and this fits perfectly with the existing Atlas Copco product portfolio.”
The acquired business will become part of Atlas Copco’s new Surface and Exploration Drilling division in the Mining and Rock Excavation Technique business area. Visit: www.atlascopco.com
Sandvik has reached an agreement to acquire Varel International Energy Services Inc. (Varel). The acquisition price amounts to approximately US$740 million.
Varel is a global supplier of drilling solutions focusing on drill bits, downhole products for well construction and well completion. The key customer segment is in the Oil and Gas sector, with some exposure to the mining and construction industries. The manufacturing sites are located in Houston (USA), Matamoros (Mexico), Aberdeen (Scotland), Tarbes (France), and Kurgan (Russia). The head office is based in Carrollton, Texas, USA. Varel will form a new product area within the business area Sandvik Venture.
“The acquisition forms a platform to enable Sandvik to enter into drilling solutions in the oil and gas sector. The combination of Varel’s solid market position and strong customer offering, and Sandvik’s broader drilling solutions capabilities as well as the extensive knowledge in highly relevant materials and cutting technology, will support Varel’s continued growth,” says Tomas Nordahl, president of Sandvik Venture. Visit: www.sandvik.com
Funkwerk AG has sold its Kiel operations along with its Swedish subsidiary Funkwerk Information Technologies Malmö AB. Divesting its complete railway control and signalling technology business, previously part of Traffic & Control Communication (TCC), Funkwerk has set up Schienenverkehr System Technik GmbH (SST GmbH) as a new company to pool all assets of the Kiel site along with the shares of the Swedish subsidiary. The shares of SST GmbH have been bought by Scheidt & Bachmann GmbH, Mönchengladbach, a supplier of railway signalling technology for more than 100 years. Funkwerk AG has opted to sell its business unit as a further step in the strategy to focus on its core segments.
A further fact bearing on the decision to sell the unit is said to be the current consolidation of the market for signalling technology in which Funkwerk holds a relatively minor share with an annual sales volume of around €15 million. Visit: www.funkwerk.com