Industry roundup: partnerships, mergers, etc.
News from Amerlux Lighting Solutions, Mitsubishi Electric HVAC, Schneider Electric, and more.
Amerlux Lighting Solutions , Fairfield, N.J., appointed Dave Silverman to vice president of sales, central region, and Rob Limroth to vice president of sales, Northeast region.
Mitsubishi Electric HVAC opened a sales office in Irvine, Calif., which also houses the Irvine Training Center.
Royal Philips Electronics, Amsterdam, will acquire Lighting Technologies International (LTI), Baldwin Park, Calif. The transaction is expected to close in the fourth quarter of 2007. Upon closing, LTI will become part of Philips’ Special Lighting Applications business group.
Schneider Electric , Rueil-Malmaison, France, completed the acquisition of Pelco Inc . Schneider announced its intent to purchase Pelco on Aug. 1. Schneider Electric acquired all shares of Pelco for $1.540 billion, including an enterprise value on a cash-free debt free basis of $1.220 billion and the net present value of a tax benefit resulting from the step up from Pelco’s assets of $320 million. Pelco was consolidated in Schneider Electric’s accounts as of Oct. 16.
Bosch Security Systems Inc ., Fairport, N.Y., appointed two individuals to its executive team: Christoper Gerace has been named president of the organization and Jeremy Hockham is the new leader of Bosch’s Regional Sales Organization in North and South America.
S&C Electric Co., Chicago, was named one of the 10 winners in Chicago’s Innovation Awards Competition for its TripSaver Dropout Recloser. The winners, chosen from 249 nominees in four states, were honored at a ceremony in the Goodman Theatre in Chicago on Oct. 22. TripSaver protects overhead lateral circuits on electrical distribution system and is used in lieu of a fuse cutout. It eliminates the permanent outage that occurs when the cutout responds to a temporary fault.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey