As manufacturers strive to optimize and improve profitability, they often use various business strategies to stay competitive. These actions include mergers, acquisitions, promotions, layoffs, funding, and much more. Below are just a few of the companies that are making moves and making headlines in the industrial sector.
Acquisition: Boeing has announced plans to acquire Spirit AeroSystems in an all-stock transaction at an equity value of approximately $4.7 billion and a total transaction value of approximately $8.3 billion. In a recent quote, Boeing President and CEO Dave Calhoun said, "We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly. By reintegrating Spirit, we can fully align our commercial production systems, including our Safety and Quality Management Systems, and our workforce to the same priorities, incentives and outcomes – centered on safety and quality."
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Capital: Formic has raised $27.4 million in a Series A round of funding. The robots-as-a-service (RaaS) company received funding from Blackhorn Ventures, as well as Mitsubishi HC Capital America, NEC, Translink Capital, Alumni Ventures, and more. Since 2022, Formic has raised more than $52 million. In a recent quote, Saman Farid, co-founder and CEO, Formic, said, “Manufacturers continue to struggle with labor challenges, yet robotic solutions that can automate these difficult-to-fill jobs are traditionally capital intensive and even intimidating for those without a specialist on hand to manage the project long term. With this additional financing, we can take on the heavy lifting for even more manufacturers, handling financing, deployment, management and support throughout the entire lifecycle. It’s all about simplicity and standardization that enables better productivity outcomes for customers.”
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Acquisition: Daniels Manufacturing Corporation (DMC) has completed its acquisition of MCD-Tools GmbH, a German tool distribution and repair company. DMC, a provider of precision tooling and manufacturing solutions, hopes the acquisition will allow it to better serve customers in Europe. In a recent quote, Erik Francoforte, General Manager of DMC, said, "This strategic move aligns with our commitment to providing world-class tooling solutions to our customers globally. By combining our strengths, and nurturing MCD-Tools' established relationships, we are well-positioned to exceed the expectations of our European customers and further solidify our position as a leader in the mil-spec tooling industry."
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Acquisition: Nano Dimension Ltd. has announced plans to acquire Desktop Metal, Inc. Nano Dimension, which specializes in solutions that convert digital designs to electronic or mechanical devices, will purchase all outstanding shares of Desktop Metal, which focuses on 3D printers, materials, and software, in an all-cash transaction for $5.50 per share. In a recent quote, Yoav Stern, Nano Dimension’s CEO and member of the Board of Directors, said, “Our combination with Desktop Metal is another step in Nano Dimension’s evolution to become the leader in digital manufacturing, with capabilities in mass manufacturing for critical industrial applications. We’re excited to join forces with an excellent group of technology leaders, all of whom share our vision for transforming manufacturing to Digital Industry 4.0.”
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Capital: Stellantis N.V. has invested an additional $55 million into Archer Aviation Inc., a company that focuses on electric vertical takeoff and landing (eVTOL) aircraft. This investment, which is part of the organizations’ strategic funding agreement, comes after the completion of a flight test milestone. In a recent quote, Archer CEO Adam Goldstein said, “The commitment by Stellantis to Archer has been unrivaled, from its foresight to provide the manufacturing expertise and capital needed to accelerate Archer’s business objectives, to the strategic vision and steadfast support from Stellantis CEO Carlos Tavares. Together, we’re working to redefine urban transportation, opening new worlds of opportunity for citizens across the globe by providing more efficient access to people, places, and events across the regions they live in.”
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