Eaton suffered a 30% loss in Q2 2020 compared to the previous year....
Eaton suffered a 30% loss in Q2 2020 compared to the previous year. Revenue was USD 3. 9 m (EUR 3.3 m). As always, the electrical departments (Electrical Americas and Electrical Global) were the largest with a share of 67%; although there were heavy losses here, too.
Net income was USD 54 m (EUR 46 m); here a dramatic loss of 91.5%.
The sale of the lighting division, which was made on March 2nd to Signify for USD 1.4 bn (EUR 1.3 bn), came just to the right time.
Revenue was USD 7.2 bn (EUR 6.1 bn);....
Revenue was USD 7.2 bn (EUR 6.1 bn); this is a decrease of 12.2% compared to the previous year.
Net income increased 14.5% from USD 1,127 m (EUR 956 m) to USD 1,290 m (EUR 1,095 m).
Geographically, sales decreased by 8.5% in the Asia-Pacific-Area, by 12.7% in America and by 16.4% in the EMEA region (Europe, Middle East, Africa).
Revenue for the third quarter of fiscal 2020 was USD 1,394 m (EUR 1,188.5 m)...
Revenue for the third quarter of fiscal 2020 was USD 1,394 m (EUR 1,188.5 m), a decrease of 16.3% from USD 1,665.1 m (EUR 1,419.6 m) in the 3rd quarter of last year.
Architecture & software
Quarterly sales were USD 621.4 m (EUR 529.8 m), a decrease of 16.9% from USD 747.9 m (EUR 529.8 m) in the same period last year.
Control Products & Solutions
Quarterly sales in this segment were USD 772.6 m (EUR 658.7 m), a decrease of 15.8% from USD 917.2 m (EUR 782 m) in the same period last year.
Net income was USD 317.8 m (EUR 271 m) compared to USD 261.4 m (EUR 222.9 m) last year, an increase of 21.6%.
With thousands of employees continuing to work in very difficult conditions, including the temporary wage cuts that were made in May to adjust costs to current business conditions, Rockwell now intends to reverse them by the end of December. In addition, one would like to make a recognition payment to production employees worldwide.
New operational segments
From the next fiscal year, Rockwell Automation will work with three operating segments (Intelligent Devices, Software & Control and Lifecycle Services). These new segments are intended to simplify the structure in order to better compete with its growing importance of digitization.
The Intelligent Devices segment is headed by Fran Wlodarczyk.
The Software and Control segment is temporarily headed by Chris Nardecchia. A final manager of this position is currently being sought.
The Lifecycle Services segment is managed by Frank Kulaszewicz.
Rexel had sales of EUR 6,045.6 m in the first half of 2020...
Rexel had sales of EUR 6,045.6 m in the first half of 2020; which corresponds to a decrease of 11.1%. It is worth mentioning that the group's digital sales accounted for 21%, representing 31% of sales in Europe.
The net loss in the first half of the year was EUR 439.8 m.
The distribution of sales was as follows: Europe 54%, North America 36%, Asia / Pacific 10%.
Nexans has sold its Berk-Tek division, a leading cable manufacturer...
Nexans has sold its Berk-Tek division, a leading cable manufacturer in the United States (factories in Pennsylvania and North Carolina) to Leviton; one of the best known manufacturers in the lighting and cable sector in the US.
Nexans received USD 202 m (EUR 177 m); last year Berk-Tek had sales of USD 163 m (EUR 143 m).
Both companies have been working closely together since 2013, so this merger is now the logical consequence.
A final OK by the competition watchdog is expected in the 3rd quarter of this year.
ETIM North America, based in Salt Lake City, is an initiative to standardize the electronic exchange of product data in the electrical industry and related sectors....
ETIM North America, based in Salt Lake City, is an initiative to standardize the electronic exchange of product data in the electrical industry and related sectors.
In mid-July, two well-known electrical manufacturers (Eaton and Rockwell Automation) joined the organization, which already included companies such as ABB, Schneider Electric and Siemens. While these manufacturers may be strong competitors in the market, they can work together at ETIM to accelerate digitalization, which will bring benefits to everyone in the market.
Membership in ETIM NA is open to manufacturers, dealers and anyone else working in the electrical industry.
At the beginning of June, the Electro-Federation Canada (EFC), Canada's national electrical manufacturers' association, joined ETIM in North America, in order to promote the exchange of product information across the entire Canadian supply chain.
As a link between electrical manufacturers (NEMA) and electrical wholesalers (NAED), the IDEA (Industry Data Exchange Association) joined ETIM in early June. IDEA was founded in 1998 by the manufacturers' association and the electrical wholesale organization.
The Würth Group recorded sales of EUR 6.9 bn in the first half of 2020....
The Würth Group recorded sales of EUR 6.9 bn in the first half of 2020. This corresponds to a decrease of 3.1% compared to the previous year; in Germany there was a decrease of 0.5%, abroad it was -4.9%. Würth was satisfied with the development, despite the ongoing corona pandemic.
The operating result of the Würth Group in the 1st half of 2020 was significantly lower than in the previous year at EUR 280 m (2019: EUR 340 m).
The share of e-business continued to increase and now reached around 20%.
In particular, they were satisfied with the electrical wholesale business unit. Overall, there was a strong increase of 13.7%.
The European Commission has unconditionally approved the planned takeover of OSRAM by AMS....
The European Commission has unconditionally approved the planned takeover of OSRAM by AMS.
There do not seem to be any barriers for new entrants. Consulted market participants either appear to support the transaction or are not affected at all. Therefore, there are no concerns about any distortion of competition. The Commission also found that the merged company did not have sufficient market power to affect competition.
Ams AG is a multinational semiconductor manufacturer headquartered in Premstätten in Austria. The company operates in the consumer, industrial, medical technology and automotive sectors.
OSRAM, headquartered in Germany, is a photonics company that offers lighting solutions and sensors worldwide. The product portfolio includes a wide range from LEDs to light management systems as well as traditional and special lamps.