The Timken Company,
a global specialist in engineered bearings and mechanical power transmission products, has reached an agreement to acquire Groeneveld Group, a Netherlands-headquartered provider of automatic lubrication solutions used in on- and off-highway applications, for approximately $280m. For the 12 months ending 31 May 2017, Groeneveld Group sales were approximately $105m. The transaction is expected to be accretive to adjusted earnings per share in 2017. Additionally, Groeneveld Group has a strong margin profile, which is anticipated to be accretive to Timken’s EBITDA margin.
For further information
www.groeneveld-group.com

SLM Solutions Group AG, a supplier of
metal-based additive manufacturing (AM) technology, has won an order for 10 SLM500 multi-laser AM machines. This is the first order of this magnitude that SLM Solutions has received for the SLM500 model. SLM has been pursuing the goal of further establishing itself in Asia, where it already has subsidiaries in Singapore, China and, since 2017, India. This order is an important step for further growth in the region and is proof of high demand worldwide for AM systems suited to industrial applications. The machines are to be delivered
to a customer in China within the next 15 months.
For further information www.slm-solutions.com

Hexagon has revealed plans to invest approximately €90m in a new 52,000 m2 production facility in Hongdao, China. The new site will primarily produce metrology systems for the MI (Manufacturing Intelligence) division. There will also be office and meeting space, recreational areas for employees and a Hexagon solution centre. Construction is slated to begin this year, with completion targeted for 2020.
“The factories of the future must be flexible, modular working environments with data-driven ecosystems that embed agility and quality into every phase of the production process,” says Hexagon president and CEO Ola Rollén. “Our new facility not only will deliver high-class products and services for our customers in China and the surrounding region, but pioneer new technologies to support smart manufacturing.”
For further information www.hexagonmi.com

The capacity utilisation rate (CUR) of Turkish manufacturing rose further to 79% in June, the highest figure recorded since August 2008’s 81.9%, the central bank reports. Furthermore, Turkey’s Manufacturing Purchasing Managers’ Index (PMI) rose from 51.7 in April to 53.5 in May, the highest level recorded since December 2013, while calendar adjusted industrial production growth hit a 20-month high in April and exports surged 16% year-on-year in May. Production from the industrial sector was up 5.3% year-on-year in Q1, with manufacturing output recording a climb of 5.1%.
For further information www.tcmb.gov.tr

ZonesCorp says that it has signed four deals with companies to build facilities in Al Ain Industrial City (AAIC). The new projects represent a combined investment of approximately AED51m and cover a total area of nearly 60,000 sq m. After finalising deals with ZonesCorp at the end of 2016 and in Q1 2017, construction of the new facilities is underway and due to be completed towards the end of this year.
Strategically located midway between the cities of Abu Dhabi and Dubai, AAIC has excellent transport and communication links, and is well located to serve GCC markets. Spread over an area of 9 sq km, AAIC has been developed and is operated under the same technical and environmental standards as the Industrial City of Abu Dhabi (ICAD).
For further information www.zonescorp.com