Market trends and business perspectives
Hyundai Robotics is entering the food technology market in cooperation with the global chicken franchise, KFC.
Hyundai Robotics has signed an agreement outlining “research and co-operation in automated production manufacturing” with KFC at the restaurant chain’s Eungam restaurant in Seoul, South Korea.
Hyundai Robotics’ COO Seo Yoo Seong and KFC Korea’s CEO Eom Ik-soo attended the signing ceremony. [Read more…] about Hyundai Robotics to automate fast-food production for KFC
Carbon fiber reinforced polymers (CFRPs) are a critical class of performance materials, but disruptions from Covid-19 have made the future of the industry uncertain.
In a new report, The Future of Carbon Fiber Composites, Lux Research outlines major challenges and opportunities carbon fibers and CFRPs face and how standardization and recycling are enabling the CFRP market to grow to a $64 billion industry by 2030.
The carbon fiber industry is facing three major challenges: weakness in underlying markets, fiber standardization, and recycling. [Read more…] about Carbon fiber reinforced plastics market set to grow to $64 billion by 2030
Mitsubishi Electric has agreed to acquire buildings and land from Sharp Fukuyama Semiconductor, a wholly owned subsidiary of Sharp Corporation located in Fukuyama, Hiroshima Prefecture, Japan.
The acquired properties will serve as a new site where Mitsubishi Electric’s Power Device Works will process wafers for the manufacture of power semiconductors.
New production facilities scheduled to start up in November of next year will enable Mitsubishi Electric to expand its power device business. [Read more…] about Mitsubishi Electric to acquire Sharp factory to expand power device business
On-demand fulfillment services startup Fabric has raised an additional investment to its Series B round from Evolv Ventures, the investment arm of Kraft Heinz, one of the largest global food and beverage companies in the world.
Led by a team of food, startup, and venture capital veterans, Evolv Ventures is focused on strategic investments in emerging technologies across the food value chain.
Their undisclosed additional investment to the $110 million-dollar round is a resounding vote of confidence from a leading food tech investor and the iconic food company. [Read more…] about Fabric raises $110 million in new investment round backed by Kraft Heinz
Teradyne has completed the acquisition of AutoGuide Mobile Robots, a leading supplier of high payload autonomous mobile robots (AMRs).
AutoGuide’s advanced products deliver easy deployment, improved safety, reduced costs and increased efficiency of industrial and warehouse material-handling operations.
Mark Jagiela, president and CEO of Teradyne, says: “AutoGuide’s safe, high-payload AMRs for the global forklift market provide a powerful, additional growth engine to Teradyne’s Industrial Automation group. [Read more…] about Teradyne completes acquisition of AutoGuide Mobile Robots
Doosan Robotics, a manufacturer of collaborative robots, says it plans to establish its first US office in Buford, Georgia by the end of 2019 to accelerate its distribution efforts.
The new office will serve as the headquarters for sales, marketing, training, and customer service in the Americas.
Doosan produced the first generation of cobots in 2018 and immediately grew into multiple channels. The company quickly solidified its global presence with the help of its parent company, a large industrial conglomerate. [Read more…] about Doosan Robotics to open new US headquarters to expand distribution in the Americas
Mitsubishi Electric says it will start construction of a new plant on the premises of its subsidiary Mitsubishi Electric Automotive India in Gujarat, India.
The company’s new plant, along with one in Manesar, Haryana, will enable MEAI to expand its output of products such as motor-control units for electric power steering, exhaust gas recirculation valves and giant magnet-resistance sensors.
The demand for these components is expected to grow in line with increasing sales of vehicles offering enhanced fuel efficiency and reduced emissions in the Indian market. [Read more…] about Mitsubishi Electric’s new plant in India to produce automotive products
UPS subsidiary UPS Flight Forward says it has received the US government’s first full Part 135 Standard certification to operate a drone airline.
The company will initially expand its drone delivery service further to support hospital campuses around the country, and to provide solutions for customers beyond those in the healthcare industry.
UPS Flight Forward plans in the future to transport a variety of items for customers in many industries, and regularly fly drones beyond the operators’ visual line of sight. [Read more…] about UPS attains FAA’s first full approval for drone airline
General Motors is investing an additional $20 million at Arlington Assembly to upgrade plant conveyors in preparation for the launch of GM’s new SUVs.
GM has invested more than $1.4 billion in Arlington Assembly since 2015 to build a new paint shop and for body shop and general assembly area upgrades.
The new upgrades at Arlington are scheduled to be completed next year.
[Read more…] about GM to invest additional $20 million in Texas plant
Hanwha Aerospace has signed a deal to fully acquire EDAC Technologies, an American aircraft engine component manufacturer. The deal is expected to be worth around USD 300 million, which will be finalised once negotiations are completed.
The Korean company made a preliminary bid for EDAC Technologies in April of 2019 and entered a period of due diligence before making a final offer.
EDAC Technologies is an aircraft engine component manufacturer based in Connecticut, with a workforce of 590 people. It recorded USD 150 million in revenue in 2018.
[Read more…] about Hanwha Aerospace acquires US aircraft engine component manufacturer
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