Flowserve and Clariter to reduce plastic waste through commercial-scale chemical recycling plants
Key Insights and Signals – Industrial
Deals Tetra Pak Arabia signs a USD 10 Mn deal at Gulfood 2023 Tetra Pak Arabia will expand its facility in Baghdad. It will be ready in 2024 and will have a production capacity of one billion packs per annum for dairy and beverage products. Tetra Pak Arabia will provide end-to-end solutions and introduce its Tetra Prisma Aseptic packaging to Alssad. Read More>>Partnership Flowserve and Clariter to reduce plastic waste through commercial-scale chemical recycling plants Flowserve signed a collaboration agreement with Clariter to scale up Clariter’s commercial production plants that transform plastic waste into new products. The companies will work together to develop sustainable lubrication formulations made from recycled plastic waste. Read More>> TCL and SEMP to expand collaboration into the photovoltaic sector The companies established a joint venture in 2016, leading to steady market share growth for SEMP TCL brand TV sets in Brazil. The success of the TCL and SEMP joint venture demonstrates the potential for business collaboration between Chinese and Brazilian companies. Read More>>Mergers and Acquisitions Lindab acquires the German ventilation company Raab Lftungstechnik Lindab’s acquisition of Raab Lftungstechnik GmbH will strengthen Lindab’s sales and production of rectangular ventilation ducts. Raab Lftungstechnik is a leading manufacturer of high-quality rectangular ventilation ducts in southern Germany, and its automated manufacturing processes have great potential for expansion. Read More>>Centre setup Daikin builds second Sydney factory The new 7500m2 factory will focus on local research and development, including expanded production areas for packaged air-conditioning units, an expanded assembly line for air handling units, additional raw materials warehousing, and staff training facilities. Read More>>Executive Movement Ric Phillips to take over as CEO of Kimball Electronics as Don Charron retires Kimball Electronics’ long-standing Chairman and CEO, Donald, retired. They appointed Richard D. Phillips as its new CEO and Director. Mr. Phillips is an accomplished executive with extensive experience in various industries. Robert J. Phillippy, the Lead Independent Director, will become the non-executive Chairperson. Read More>> Westinghouse announces executive management appointments Westinghouse appointed Shravan Chopra as the new Chief Financial Officer and Executive Vice President of Global Finance & Strategy. Chopra has over 20 years of experience in various industries in finance, strategy, and operations leadership roles. Read More>> Masco Corporation announces executive appointments Masco announced new appointments in its leadership team, specifically within the Decorative Architectural Products division. Imran Ahmad, previously President of Masco Canada, has been promoted to Group President of the division. Read More>>Product Launch Kennametal introduces turning insert grade with advanced coating technology Kennametal launched KCP25C with KENGold, the new turning grade. This grade offers improved wear and higher metal removal rates for steel-turning applications and is the first-choice carbide grade for turning inserts in general-purpose applications. Read More>>Financial and Market Report Somfy announced 2022 annual results Somfy announced the 2022 financial results, reporting a 3.7% increase in group sales despite a challenging economic and geopolitical environment. The positive impact was driven by significant growth in Latin America, Africa & the Middle East, and Asia Pacific regions, highlighting the benefits of the Group’s international footprint. Read More>> Plug Power posts Q4 revenue miss and reaffirms 2023 sales above consensus Plug Power announced the report for Q4 adjusted losses larger than expected, leading to a 3.3% decline in after-market trading. The company’s Q4 revenue increased 36% YoY to USD 221 Mn. The gross margin for Q4 improved to -36% compared to -54% in the year-earlier quarter. Read More>>
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Latest Industry Insights from Draup Braindesk
Industrial Tool Solution
Stanley Black & Decker focuses on developing high-performing hand and power tools for several industries to fasten the engineering work.
Stanley Black & Decker is keen on improving the concrete sensor that helps to reduce carbon emissions by interpreting real-time data to observe the compressive strength gain of concrete and predict when it will reach critical strength
DEWALT products deliver wireless tool control and a built-in SHOCKS Active Vibration Control system which helps the workers to avoid accidents.
Household Tool Solution
Stanley Black & Decker focuses on developing Household tools to build outdoor power equipment using high-quality local and global components that moderate the home environment.
Stanley Black & Decker brings innovation to the kitchen by adding the kitchen wand that offers powerful performance for blending, whisking, frothing, and more, coupled with the convenience of cordless operation, providing freedom for creativity in the kitchen.
Stanley Black & Decker offers a recycling program where consumers divert their waste from landfills while helping to protect and preserve the planet for future generations.
Start-up Spotlight
Company – Summit Nanotech Total Funding – USD 65.83 Mn
Summit Nanotech Corporation is a cleantech organization transforming how the world accesses lithium for the global energy transition. Summit works with mining companies and lithium asset owners in Chile and Argentina to conserve natural resources and optimize operations. Read More>>
Fundraise and Investment
Tata Steel invests INR 740 Mn (USD 9 Mn) in TRF Ltd via redeemable preference shares
Tata Steel invested in its associate company TRF Ltd. by purchasing non-cumulative, non-convertible, non-participating, redeemable preference shares. The investment will provide TRF with additional working capital, support the repayment of existing debt, and help achieve other corporate goals. Read More>>
Latest Reports Published in Draup
Valmet Oyj – Account Intelligence Report
Valmet focuses on improving profitability through various actions in sales process management, project management, project execution, procurement, quality technology, and R&D that will reduce product cost competitiveness and performance. Read More>>
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