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Daily news and top headlines for manufacturing professionals

IBM Buys Fraud Protection Software Maker Trusteer

August 15, 2013 9:31 am | News | Comments

IBM is buying fraud protection software maker Trusteer, amid the growing threat of cyberattacks. The Armonk, N.Y., technology services company announced the acquisition Thursday, but didn't disclose how much it paid for Trusteer.     

Famed Piano Maker Steinway Sold For $499M

August 14, 2013 8:22 am | News | Comments

The famed piano maker Steinway is being sold for $499 million. The company terminated an existing sales agreement with Kohlberg & Co. after it was outbid by another investment firm, Paulson & Co. Paulson topped Kohlberg's offer by $3 per share.

Micron Cuts Jobs After Purchase Of Japanese Firm

August 13, 2013 8:18 am | News | Comments

The cuts were announced starting Aug. 7 and come in the wake of Micron's acquisition of Japanese competitor, Elpida. The Boise-based computer memory chip maker has about 30,000 workers, meaning the cutback is aimed at trimming about 1,500 employees.

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Visteon To Sell Stake In Chinese JV For $1.25B

August 13, 2013 7:50 am | News | Comments

The auto parts supplier says it will apply proceeds from the sale of its 50 percent stake in Yanfeng Visteon Automotive Trim Systems on a $1.2 billion share buyback program that runs through December 2015. Visteon is selling its stake in Yangfeng to Huayu Automotive Systems Co. Ltd.

Whirlpool Buying Hefei Sanyo Stake For $552M

August 13, 2013 7:33 am | News | Comments

Whirlpool is buying a majority stake in Chinese appliance maker Hefei Rongshida Sanyo Electric Co. Ltd. for about $552 million. Whirlpool Corp., whose brands include Maytag and its namesake, said Tuesday that the transaction will help it expand in China.

Medtronic Completes $200M Deal For Cardiocom

August 12, 2013 12:23 pm | News | Comments

Medtronic Inc. said Monday that it closed its $200 million acquisition of Cardiocom, which develops and provides services that help manage chronic diseases. The Minneapolis-based medical device maker said it doesn't expect the deal to affect its fiscal year 2014 profit.

BlackBerry Weighs Putting Itself Up For Sale

August 12, 2013 10:25 am | by Rob Gillies, Associated Press | News | Comments

Struggling smartphone maker BlackBerry will consider selling itself. The company said Monday that its board has formed a special committee to explore "strategic alternatives" in hopes of boosting the adoption of its BlackBerry 10 smartphone. The company said its options could also include joint ventures, partnerships, or other moves.

Pinnacle Foods Buying Wish-Bone For $580M

August 12, 2013 8:04 am | News | Comments

Pinnacle Foods is buying Wish-Bone salad dressings from Unilever for $580 million. Combined annual sales, which include the liquid and dry-mix salad dressings under the Wish-Bone and Western brands, total about $190 million.      

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Rockwell Collins Buys ARINC For $1.39B

August 12, 2013 7:36 am | News | Comments

Aviation and military electronics maker Rockwell Collins said Sunday it is buying Annapolis, Md.-based ARINC Inc. from the investment firm The Carlyle Group for $1.39 billion.Cedar Rapids-based Rockwell Collins, which currently does more than half its business with the government, was seeking to add commercial customers.

Newell Rubbermaid To Sell Hardware Business

August 9, 2013 2:14 pm | News | Comments

Newell Rubbermaid Inc. said Friday that it had agreed to sell its hardware business to investment firm Nova Capital for about $214 million in overall proceeds before taxes.Newell said the sale will leave it with a strong portfolio of brands with potential for growth. The deal is expected to close sometime during the third quarter.

Danone Buys YoCrunch

August 9, 2013 1:49 pm | News | Comments

French dairy company Danone SA says it has acquired Connecticut-based yogurt maker YoCrunch in a move aimed at expanding its presence in the U.S.M&Ms candies and Oreos cookie crumbs are among the tasty toppings YoCrunch has secured licenses for to include with its yogurts in compartmentalized packaging.

Wausau Acquires Colo.-Based Custom Window

August 8, 2013 10:12 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Apogee Wausau Group, Inc., the parent company of Wausau Window and Wall Systems, has acquired Benchmark Sales Agency, Inc. under undisclosed terms. The acquisition includes Custom Window Company, Inc., and Wausau says this acquisition will help it expands its offerings to new geographic areas in the U.S.

Beechcraft Closer To Sale Of Business Jet Assets

August 5, 2013 12:22 pm | News | Comments

Beechcraft Corp. expects to close a deal on the sale of its idled business jet assets before the end of the year and has received widespread interest for them, a top official said. "The interest has been worldwide," said Beechcraft CEO Bill Boisture. "There have been international, U.S. and local interest in these assets."

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Ericsson And STMicroelectronics Split Up ST-Ericsson

August 5, 2013 11:37 am | News | Comments

Ericsson and STMicroelectronics today announced they have closed the transaction for the split-up of ST-Ericsson, with the formal transfer of relevant parts of the joint venture to each parent company. The plan, effective August 2, 2013, means some existing activities are being shut down with equal funding from both companies.

E2open Acquires icon-scm In $34M Deal

August 5, 2013 10:11 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Foster City, Calif.-based E2open has announced its recent acquisition if icon-scm, a provider of supply chain planning and collaboration technologies, in a transaction valued at approximately $34 million. E2open hopes to expand its market opportunity and accelerate its product roadmap with the recent deal.

Cubist Pharmaceuticals To Acquire 2 Drug Makers

August 1, 2013 11:46 am | News | Comments

Cubist Pharmaceuticals Inc. said Tuesday that it plans to acquire two other drug makers, Optimer and Trius Therapeutics, in an effort to expand its product portfolio. The deals are valued at $801 million and $818 million, if certain milestones are reached, respectively.

Dell's Board Deals Blow To CEO's $24.4B Buyout Bid

August 1, 2013 11:28 am | by Michael Liedtke, AP Technology Writer | News | Comments

The rebuff announced Wednesday marks the latest blow that Michael Dell and his main backer, Silver Lake Partners, have absorbed since reaching an agreement with Dell Inc.'s board nearly six months ago to buy the Round Rock, Texas, company for $24.4 billion, or $13.65 per share.

Report: Emerging Nations Show Interest In Q2 Manufacturing M&A

August 1, 2013 10:51 am | by PwC US | News | Comments

While deals in the industrial manufacturing sector were more moderately paced in the second quarter of 2013 when compared to the norms of recent years, acquirers from emerging and developing nations, most notably China, remained actively involved in merger and acquisition (M&A) activity, according PwC US.

French Firm Agrees To A Deal For Invensys

July 31, 2013 11:35 am | News | Comments

France's Schneider Electric is to buy industrial software firm Invensys for a 3.4 billion pound ($5.2 billion).Schneider, which has 140,000 employees, has signaled plans to offload non-core divisions within Invensys, which develops technology for oil refineries and other sectors.

Fives Completes Acquisition Of MAG Americas

July 30, 2013 4:16 pm | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Fives has announced its acquisition of MAG Americas by bringing onboard three more of its brands — Cincinnati, Giddings & Lewis and Forest-Liné. The company says its recent purchase will help it strengthen its position in aerospace, renewable energy and mining equipment by increasing its capacity to manufacture the high-precision machine tools used to manufacture complex or high-performance equipment.

Valeant To Cut Jobs, Move Bausch + Lomb HQ

July 30, 2013 7:41 am | News | Comments

In a letter to its own and Bausch + Lomb workers, Valeant said that after the deal closes, it will eliminate between 10 percent and 15 percent of positions companywide. That works out to between 1,850 and 2,775 people and is expected to include both Valeant and Bausch + Lomb workers.

Icahn Contests Condition In Latest Dell Offer

July 29, 2013 8:51 am | News | Comments

Billionaire investor Carl Icahn is warning that the latest offer from Dell's founder to buy the struggling computer maker bypasses an important safeguard for shareholders. Icahn and the investment firm Southeastern Asset Management say Michael Dell wants to circumvent the voting process behind the deal by preventing stockholders from passively dissenting on the offer.

Perrigo To Buy Elan For $8.6B

July 29, 2013 8:50 am | by Shawn Pogatchnik, Associated Press | News | Comments

U.S. drugmaker Perrigo agreed Monday to buy Ireland's Elan for $8.6 billion in a deal that should allow the rapidly growing company to reduce its tax bill and boost its royalty stream.Perrigo Co. said it would pay Elan Corp.'s investors $6.25 per share in cash and $10.25 in Perrigo stock.

PPG Industries To Sell Subsidiary For $1.73B

July 29, 2013 8:02 am | News | Comments

PPG Industries Inc. will sell its majority stake in lens supplier Transitions Optical to Essilor International for about $1.73 billion in cash. Essilor also will acquire PPG's optical sun lens business, and PPG will continue to supply optical dyes and research and development services.

Panasonic To Sell Part Of Healthcare Business

July 26, 2013 8:06 am | News | Comments

Panasonic Corp. said Friday it will sell its ultrasonic diagnostic equipment business to Konica Minolta Inc. in January 2014 as part of efforts to improve its financial base eroded by the firm's recent sluggish performance. Panasonic will sell the business operated by its health care subsidiary Panasonic Healthcare Co.

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