Movers and Shakers

Catching up with industry movements large and small

Schaeffler AG acquires Compact Dynamics. On December 20th, Schaeffler AG, of Herzogenaurach, Germany, acquired electric motor manufacturer Compact Dynamics GmbH (seller: Semikron International GmbH). The acquisition is of 51 percent of the shares of Compact Dynamics GmbH, a manufacturer of high-performance electric motors. The transaction is envisaged to be completed in the first quarter of 2017 and the parties are “bound to secrecy about the details”, according to a Schaeffler press release.

Duke Energy invests in repair shop. Duke Energy is expanding a Mount Holly shop used to repair parts used at the company’s power plants. The company has commissioned a new 50,000-square-foot building for its W.F. Lark Maintenance Center on Steam Plant Road, housed at the inactive Riverbend Steam Station site. The project will cost about $13.4 million, according to two Gaston County permits issued Oct. 18 and Nov. 4. The general contractor for the project is Locke-Lane Construction. The Lark building needs more space for workers to store and repair equipment used to produce energy, like combustion turbines, Duke spokeswoman Kim Crawford said. The company does not plan to hire anyone new, but will relocate workers to the Mount Holly shop, Crawford said.

TMIEC on Port of Virginia expansion. Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) has been selected to provide industrial drive and automation solutions for The Port of Virginia’s historic expansion project, totaling 86 Konecranes automated stacking cranes at the Norfolk International Terminal and Virginia International Gateway facilities. This is the largest automated stacking crane order TMEIC has received to date and the largest single order of such cranes ever placed by a port.


Siemens agreement with Saudi Aramco. Saudi Aramco and Siemens have inked several agreements to collaborate in the fields of renewable energy, research and development, as well as digitalization in the oil & gas industry during the recent IKTVA Forum in Dammam, Saudi Arabia. Siemens investments in the expansion of its local footprint expansion across the value chain translates into creating quality jobs for Saudi nationals, enhancing innovation, economic diversification and increased global competitiveness for the Kingdom. Furthermore, Siemens signed an MoU with the MiSK Foundation, an independent non-profit organization that aims to advance youth development in technology, business and arts. The MoU outlines the joint intention to expose a greater number of Saudi youth to advanced technologies, to expand the Kingdom’s tech community, and to develop the next generation of business leaders and experts in digital technology. Arja Talakar, CEO of Siemens Saudi Arabia, added: “Our partnerships with stakeholders in Saudi Arabia are fully in line with the Saudi Vision 2030 and with the IKTVA objectives. Our joint activities tremendously contribute to the objectives of high-tech development in the Kingdom, create new and highly qualified jobs for Saudi citizens, diversify local industries, drive energy efficiency and advance the environmental aspects in the Kingdom.”


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