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.
Osram fears a drop in sales of almost a fifth in the current financial year....
Osram fears a drop in sales of almost a fifth in the current financial year. Revenues from the last EUR 3.5 bn are expected to decrease by 15 -19%.
Osram expects an even greater drop in earnings. The return on sales, which was 8.9% in the past fiscal year with an operating profit (EBITDA) of EUR 307 m, will only be 3 - 6% in the fiscal year ending in September.
Osram got through the Corona crisis lightly and, following a decline in business in the current third quarter, is anticipating a slight recovery in demand in the coming months. The German group is about to be taken over by the Austrian sensor specialist ams. The EU Commission will decide by July 6th whether the deal will be approved.
Benoît Pédoussaut, currently President at Sonepar France,...
Benoît Pédoussaut, currently President at Sonepar France, has been appointed Group Business Development Director. He will be responsible for acquisitions and the Group's strategy.
Jérôme Malassigné, currently Chief Strategic Marketing and Sourcing Officer also for the Asia-pacific region, has been named President at Sonepar France. He will succeed B. Pédoussaut and will continue to be responsible for Sonepar International Services.
Sonepar has an annual turnover of approx. 24 bn EUR, of which only approx. 10% is achieved in the mother country France.
The light + building trade fair canceled this year...
The light + building trade fair canceled this year due to the corona crisis will now take place from 13th to 18th March 2022 in Frankfurt.
Ledvance, one of the world's leading providers...
Ledvance, one of the world's leading providers of LED-based general lighting, has a new managing director (CEO).
Qinghuan Sun, based in China, replaces Lawrence Lin, who has only been appointed CEO since November 2018, after only 18 months in office (see electro-insider November 16, 2018).