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: AAE, a machine and module manufacturer, has acquired Solara Automation, which specializes in customized industrial automation solutions. The acquisition will allow AAE to offer solutions across a wide range of markets as it attempts to address the needs of its globally operating customers. In a recent quote, Steve Crouch from Solara Automation said, "Ever-increasing demand for factory automation and robotics fueled our desire to partner with a larger firm with the expertise and resources to support rapid growth. Early in our discussions, we learned that our missions and technical abilities were complementary. Still, more importantly, we found strong alignment with a people-centric, working-together culture that drives success. We can accomplish great things together."
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Capital: Addionics has raised $39 million in a round of Series B funding. The company, which specializes in battery technology, received funding from GM Ventures and Deep Insight, with additional investments from Scania. According to Addionics, the money will be used to improve its manufacturing capabilities and expand its business worldwide. In a recent quote, Moshiel Biton, CEO and Co-Founder of Addionics, said, “Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege. As the global demand for higher performing batteries grows, so too has the demand for our product. With the new funding, we will be able to begin commercial production by the end of the year, delivering our technology to battery manufacturers and enhancing battery performance globally.”
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Personnel: Dr. Naga Chandrasekaran has been appointed as the new chief global operations officer, executive vice president and general manager of Intel Foundry Manufacturing and Supply Chain organization. According to Intel, Chandrasekaran will be responsible for Fab Sort Manufacturing, Assembly Test Manufacturing, strategic planning for Intel Foundry, corporate quality assurance and supply chain. In a recent quote, Intel CEO Pat Gelsinger said, “Naga is a highly accomplished executive whose deep semiconductor manufacturing and technology development expertise will be a tremendous addition to our team. As we continue to build a globally resilient semiconductor supply chain and create the world’s first systems foundry for the AI era, Naga’s leadership will help us to accelerate our progress and capitalize on the significant long-term growth opportunities ahead.”
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Acquisition: Lincoln Electric Holdings, Inc. has officially acquired Vanair Manufacturing, LLC, which produces mobile power solutions for the truck market. Lincoln Electric hopes the acquisition will enhance its maintenance and repair consumable offering. In a recent quote, Steven B. Hedlund, Lincoln Electric’s President and CEO, said, “We are pleased to welcome the Vanair team to Lincoln Electric. Vanair is renowned for their leading high-quality manufacturing, innovation, and engineering expertise in the fast-growing maintenance and repair service truck market.”
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Acquisition: Charter Manufacturing has announced its acquisition of Niles Iron & Metal Company, LLC, which specializes in recycling ferrous and non-ferrous scrap metal. Charter Manufacturing, which is a group of differentiated metals manufacturing businesses, hopes the acquisition will allow both companies to grow and learn. In a recent quote, John W. Mellowes, CEO of Charter Manufacturing, said, “We are thrilled to welcome Niles Iron & Metal into the Charter family. Their long-standing reputation for excellence and commitment to customer service aligns perfectly with our values and strategic objectives.”
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