It's just business: Manufacturing moves from Siemens, PPG, Pentair, and more
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: QAD Inc. has completed its acquisition of Phenix Software Inc., which specializes in production scheduling for global companies in the process industry and bridging the gap between planning and execution. QAD, a provider of manufacturing and supply chain solutions in the cloud, hopes the acquisition will help manufacturers improve productivity and accelerate factory performance. In a recent quote, QAD Chief Product and Marketing Officer Carter Lloyds said, “Phenix Software, with tremendous expertise, has created a market-leading scheduling solution, which will help our customers keep their promise to their customers to deliver the right product, at the right price, at the right time. With QAD Advanced Scheduling our customers are covered from planning through scheduling, to execution.”
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Divestment: PPG has announced plans to sell 100% of its architectural coatings business in the U.S. and Canada to American Industrial Partners (AIP). The transaction, which is valued at $550 million, is expected to close later this year or early 2025. In a recent quote, Tim Knavish, PPG chairman and CEO, said, “We are pleased to reach an agreement with American Industrial Partners and believe the business is well positioned to leverage its current positive momentum, leading brands, proven innovation, established customers, and dedicated and talented employees. I want to thank the architectural coatings U.S. and Canada employees for their dedication and commitment throughout the years to deliver the quality products and services that meet our customers’ evolving needs.”
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Acquisition: Behlen Mfg. Co. has agreed to acquire Sweet Manufacturing Company, which specializes in bulk material handling equipment solutions. Behlen Mfg., which focuses on metal fabrication solutions, hopes to complete the purchase by the end of January 2025. In a recent quote, Tony Raimondo Jr, Board Chair of Behlen, said, “The relationship that has been forged between Behlen and Sweet over the past several years has shown that our foundational beliefs, culture, and commitment to meeting the needs of customers align perfectly. We are excited to welcome Sweet into the Behlen family of businesses and look forward to a bright future together as we work on solutions and serve our customers around the world.”
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Acquisition: Pentair plc has announced its acquisition of G&F Manufacturing, LLC, a company that manufactures and services heat pumps under the Gulfstream brand. The acquisition will cost Pentair approximately $108 million in cash at closing. In a recent quote, Jerome Pedretti, CEO of Pentair Pool, said, “Heat pumps are an important offering for customers in critical geographical regions and align with sustainability trends for pool equipment. This strategic acquisition allows us to enhance our value proposition to our customers and aligns with our commitment to deliver smart, sustainable solutions to help our customers enjoy water and make the most of life’s essential resource.”
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Acquisition: Siemens has agreed to acquire Altair Engineering Inc., a company that specializes in software for the industrial simulation and analysis market. As part of the agreement, Altair shareholders will receive $113 per share for a total value of $10 billion. According to Siemens, the acquisition will strengthen its position as a leading technology company and its leadership in industrial software. In a recent quote, Roland Busch, President and CEO of Siemens AG, said, “Acquiring Altair marks a significant milestone for Siemens. This strategic investment aligns with our commitment to accelerate the digital and sustainability transformations of our customers by combining the real and digital worlds. The addition of Altair’s capabilities in simulation, high performance computing, data science, and artificial intelligence together with Siemens Xcelerator will create the world's most complete AI-powered design and simulation portfolio. It is a logical next step: we have been building our leadership in industrial software for the last 15 years, most recently, democratizing the benefits of data and AI for entire industries.”
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Acquisition: Siemens Smart Infrastructure has officially closed its acquisition of Danfoss Fire Safety, which focuses on fire suppression technology. Siemens hopes the acquisition will accelerate the expansion of its sustainable fire safety portfolio with high-pressure water mist and low-pressure CO₂. In a recent quote, Susanne Seitz, CEO Siemens Smart Infrastructure Buildings, said, “We are looking forward to working closely with our new colleagues after successfully concluding the acquisition of the fire safety business from Danfoss. With Danfoss Fire Safety’s efficient, non-polluting extinguishing system, we are able to serve customers globally with an environmentally friendly fire suppression solution.”
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