I Bytes Manufacturing Industry

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I-Bytes
Manufacturing
October Edition 2020
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates................................................................................................................................................33
3. Rewards and Recognition Updates..................................................................................................................86
4. Customer Success Updates..............................................................................................................................125
5. Partnership Ecosystem Updates.....................................................................................................................207
6. Environment & Social Updates.......................................................................................................................257

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Financial, M & A
Updates Manufacturing Industry

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Financial, M&A Updates
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AECOM (USA) announces sale of its Power construction business to CriticalPoint
Capital
AECOM the world’s premier infrastructure consulting firm
announced the closing of the sale of its Power construction business to
affiliates of CriticalPoint Capital, LLC.AECOM is the world’s
premier infrastructure consulting firm, delivering professional
services throughout the project lifecycle – from planning, design and
engineering to program and construction management. They partner
with Their clients in the public and private sectors to solve their most
complex challenges and build legacies for generations to come. On
projects spanning transportation, buildings, water, governments,
energy and the environment, their teams are driven by a common
purpose to deliver a better world. AECOM is a Fortune 500 firm and
its Professional Services business had revenue of approximately $13.6
billion in fiscal year 2019.
Executive Commentary
“The sale of the Power construction business marks another
milestone in the successful execution of our transformation into a
higher-margin, lower-risk Professional Services business,” said
AECOM’s chief executive officer. “We have built significant
momentum in our business and continue to advance efforts to align
our organization around a global structure that fosters a culture of
collaboration, better connects our expertise and focuses on our best
growth opportunities. On behalf of our company, I thank the Power
construction team for their contributions over the years and wish
the business and CriticalPoint Capital the best of success.”
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Air Liquide (France) announces new investment to reinforce its position in the
industrial basin of Tianjin, China
Air Liquide China will invest around 60 million euros to build an Air Separation
Unit (ASU) in the Lingang Economic District, Tianjin Port Free Trade Zone. Air
Liquide has been supplying industrial gases to this major Chinese industrial basin
for more than 25 years, and already operates 7 production facilities there. With an
oxygen production capacity of more than 2,000 tons per day, this ASU will
notably allow Air Liquide to support the growth of the chemical and steel
industries in the Tianjin basin, secured by a new long term supply agreement with
a major customer. Air Liquide will build, own and operate this new ASU, which
has been designed leveraging the Group’s latest state-of-the-art technology, for a
low carbon and energy efficient production of oxygen, nitrogen and argon. This
facility will also incorporate a dedicated capacity to support small-and-medium
sized customers of liquid and packaged gases, including local hospitals requiring
high-purity medical gases. It is planned to be operational in 2022. Air Liquide
China operates seven ASUs in Tianjin, as well as a network of multi-sourced
pipelines that deliver oxygen, nitrogen and hydrogen to adjacent customers.
Member of the Air Liquide Group’s Executive Committee supervising Asia
Pacific said:“One of the most important industrial cities in the country and the
largest port in Northern China, Tianjin is a key basin for Air Liquide in China.
This new investment in the 8th ASU built and operated by Air Liquide in
Tianjin since 1995 clearly demonstrates our commitment to the long-term
partnership we have built with our customers there. It also shows our
confidence in the sustained growth of the Chinese industry towards cleaner,
more efficient ways of producing.”
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Air Liquide (France) strengthens its expertise in extreme cryogenics with the
acquisition of a majority stake in Cryoconcept
Air Liquide has acquired 80% of the capital of the French company Cryoconcept, which
specialises in dilution refrigeration - a technology allowing to reach very low temperatures.
This transaction enables Air Liquide to strengthen its expertise in the field of extreme, or
close to absolute zero, cryogenics, to propose a broader offer and accelerate the development
of Cryoconcept’s activities. Founded in 2000 and a spin-off from CEA (the French
Alternative Energies and Atomic Energy Commission), Cryoconcept employs 14 employees
specialised in the field of very deep refrigeration using dilution refrigeration[1] based on the
use of helium-3 and helium-4. This unique technology, which makes it possible to reach
temperatures below 10 milliKelvin (close to absolute zero, i.e. -273.14 °C), is essential for
fundamental physical research in fields as varied as the detection of dark matter or
microscopes to explore the infinitely small. It also appears particularly promising to support
ongoing research projects on quantum computers. With this investment, Air Liquide can now
offer its customers a complete range of products and services across the entire cold chain,
from 300 Kelvin (ambient temperature) to now less than 10 milliKelvin (-273.14 °C). Expert
in extreme cryogenics for 60 years, Air Liquide designs and supplies its customers with
systems for cold production, liquefaction, storage and distribution of cryogenic fluids, for
applications in fields of scientific research, such as the ITER project, and in the aerospace
and space fields, such as the Herschel and Planck satellites, or the Melfi space exploration
program aboard the International Space Station.
Member of the Air Liquide Executive Committee, in charge of Innovation, Digital & IT,
Intellectual Property and Global Markets & Technologies World Business Unit, said:We
are delighted to welcome Cryoconcept employees to Air Liquide. Their skills, combined
with Air Liquide’s expertise in very low temperatures, will enable us to offer our
customers an ever more comprehensive range of products and services. This approach
also illustrates the commitment of our teams to push back the frontiers of science and
technology through breakthrough innovations to meet the needs of tomorrow’s world.”
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AkzoNobel (Netherlands) boosts powder coatings capacity and accelerates
shift to greener production
AkzoNobel is investing €20 million to increase powder coatings capacity at its site in Como, Italy – signaling the company’s intent
to strengthen its market position and sharpen its focus on greener manufacturing. The Como site – already the company’s biggest
plant in Europe for producing powder coatings – is set to house a major capacity expansion for the production of automotive
coatings. The new facility will provide strategic back-up for AkzoNobel’s Arnsberg site in Germany (where a new line is also being
added), helping to secure customer supply. The extra capacity in Como is being installed in a renovated building where powder
coatings were originally made – a sustainable reuse of an historic part of the site. As well as introducing advanced equipment and
technology to deliver higher productivity rates and efficiency gains, the new operation in Como will also use recycled energy to
reduce consumption.It follows recent investments in China and Vietnam designed to install greener facilities and production
methods, which in turn will help the company to achieve its sustainability ambitions.The state-of-the-art new building in Como and
extra line in Arnsberg will help the company continue to grow with its customers, particularly in the automotive segment. And, as
with any new building, the focus is on meeting the highest standards in sustainable production.
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Key milestone in Alstom’s (France) acquisition project of Bombardier Transportation:
signed sale and purchase agreement under revised price terms
Alstom announced that it signed the sale and purchase agreement with Bombardier
Inc and Caisse de dépôt et placement du Québec (CDPQ) for the acquisition of
Bombardier Transportation. Terms of the agreement have been adapted to the current
situation. A €300m reduction in the price range has been agreed with Bombardier Inc
and CDPQ. Excluding any further downward adjustments linked to the net cash
protection mechanism, the price range for the acquisition of 100% of Bombardier
Transportation shares will be therefore €5.5bn to €5.9bnAlstom considers that the
proceeds are likely to amount up to €5.3bn, based on estimated potential post-closing
adjustment and obligations linked to the net cash protection mechanism2, compared
to the €5.8bn – €6.2bn range communicated on February 17th,2020.The financing
structure remains the same as communicated previously, in particular the size and
terms of the rights issue and the reserved capital increases of CDPQ and Bombardier
Inc. As announced last February, pursuant to the new terms of the acquisition, CDPQ
will become the largest shareholder of Alstom with approximately 18% of the share
capital and voting rights.
“The acquisition of Bombardier Transportation represents a transformational
change for Alstom. It will enable the Group to accelerate on its strategic roadmap
and strengthen its leadership in the context of a dynamic market, at a time where
sustainable transportation is at the heart of the global agenda.Bombardier
Transportation will bring to Alstom complementary geographical presence to
broaden Alstom’s commercial reach in key growing markets, strong product
complementarities in rolling stock, strategic scale in services and signalling,
industrial capacity in key countries, a leading portfolio offering and additional
R&D capabilities to invest in green and smart innovation. Alstom will also
welcome new talent and expertise, with the arrival of Bombardier Transportation
employees.”, said Chairman and CEO of Alstom.
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Arkema (France) strengthens Bostik with the acquisition of Ideal Work,
specialized in decorative flooring technologies
Bostik reinforces its range of flooring products with the planned acquisition of Ideal Work, an Italian company specialized in
high-added value decorative flooring technologies. This project is in line with Arkema’s targeted growth strategy in adhesives, based
on cutting-edge technologies which perfectly complete Bostik’s existing offering for the construction market Founded in 1997, this
Italian company with annual sales of around €10 million employs 25 people. Over the years, it has developed an expertise and a
unique approach in the fast-growing sector of high-end decorative flooring solutions, in particular thanks to its micro-cement
technology.Ideal Work’s solutions, which complement existing ranges in the field of floor preparation and flooring adhesives, will
allow Bostik to expand its offering and position itself in a high-added value niche market in flooring renovation and decoration.
Ideal Work will also be able to benefit from Bostik’s commercial network to accelerate its development and expertise globally.This
bolt-on acquisition is perfectly in line with Bostik’s growth strategy in the construction market, and in particular in the flooring
solutions sector. It is also consistent with the Group’s and Bostik’s CSR ambition, notably thanks to the micro-cement technology
that uses solvent-free products or products with low volatile organic compound emissions, as well as recycled materials.
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Asahi Kasei Homes (Japan) acquires Austin Companies
Asahi Kasei Homes concluded an agreement to acquire 100% ownership of Austin Electric Services, LLC, Austin Concrete & Stone,
LLC, and Austin HVAC, LLC, a premier Arizona residential electrical, concrete, and HVAC group working with an emphasis on energy
efficiency and conservation, on September 10, 2020 (US Eastern time), through a US subsidiary, and completed the acquisition on
September 21, 2020.While strengthening its core business of order-built unit homes in Japan, Asahi Kasei Homes considers overseas
business to be an important source of additional growth. In November 2018, Asahi Kasei Homes acquired full ownership of Erickson
Framing Operations LLC, an Arizona-based supplier of prefabricated building components. Since then Asahi Kasei Homes has
leveraged its systemization know-how and enhanced fabrication and construction processes while studying further opportunities for
business growth.The Austin Companies have provided high-quality services for electric, foundation, and HVAC work in Arizona for
over 20 years, earning a strong reputation among builders. The acquisition of the Austin Companies was agreed based on expectation of
mutual positive synergies with Erickson.The Austin Companies will continue to be managed by the current management team. The
impact of this acquisition on the consolidated financial performance of the Asahi Kasei Group is immaterial.
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Sage Automotive Interiors Completes Acquisition of Adient’s Automotive
Fabrics Business
Sage Automotive Interiors (Sage), an Asahi Kasei subsidiary based in South Carolina, the US, has completed its acquisition of the automotive fabrics
business of Adient plc as announced on March 5, 2020 (US Eastern time), for approximately $175 million (approximately ¥18.8 billion at exchange rate of
¥107.36 per US$ on March 5 Japan time). The transaction closed on September 30, 2020 (US Eastern Time), after receipt of all necessary regulatory
approvals. By combining the automotive fabrics business acquired from Adient, having marketing, manufacturing, and development centered in Europe,
together with its own established business, Sage will be able to further expand in Europe, the largest market for automotive interior fabric and the source of
innovative automotive trends. Sage plans to achieve the following synergies through this acquisition.
• Optimum global manufacturing
• Mutually complementary relationships with NA/EU OEMs
• Full product lineup (fabric, artificial suede, synthetic leather)
By advancing its regional strategy and product strategy around the world to reinforce its position as one of the leading suppliers of vehicle seat fabric and
strengthen its relationships with automotive OEMs in each region, Sage is expected to make a growing contribution to the Asahi Kasei Group’s overall
expansion of business in the automotive field. Sage also expects that expansion in Europe will enable it to maintain its leading position in the global market
for automotive interior materials.
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ASSAABLOY (Sweden) acquires Olimpia Hardware
ASSA ABLOY has acquired Olimpia Hardware, a leading glass
hardware and accessories brand in Latin America and the
Caribbean.Olimpia was established in 1999 and serves Latin America
and the Caribbean. ASSAABLOY will continue to sell Olimpia branded
products across the region.Sales for 2019 amounted to about 13 MUSD
(approx. 125 MSEK) with a good EBIT margin. The acquisition will be
accretive to EPS from start.The ASSA ABLOY Group is the global
leader in access solutions. The Group operates worldwide with 49,000
employees and sales of SEK 94 billion. The Group has leading positions
in areas such as efficient door openings, trusted identities and entrance
automation. ASSA ABLOY's innovations enable safe, secure and
convenient access to physical and digital places. Every day, they help
billions of people experience a more open world.
"I am very pleased to welcome Olimpia into the ASSA ABLOY
Group. This constitutes an important next step in our strategy to grow
market leadership in emerging markets,” says President and CEO of
ASSAABLOY.
"The addition of Olimpia complements our business in Latin
America, further supporting the growing trend of openings utilizing
glass and aluminum products," says, Executive Vice President of
ASSAABLOY and Head of the Americas Division.
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BASF (Germany) closes divestiture of its Construction Chemicals business
BASF closed the divestiture of its Construction Chemicals business to an
affiliate of Lone Star, a global private equity firm. The purchase price on a cash
and debt-free basis is €3.17 billion. The Construction Chemicals business now
forms the newly founded MBCC Group, headquartered in Mannheim,
Germany.The divestment of the assets and liabilities of the Construction
Chemicals business and the related disposal gain will be reflected in BASF’s
financial reporting in the fourth quarter of 2020. Payments received in the
context of the transaction until September 30 will be included in cash flows
from investing activities in the Q3 2020 Statement of Cash Flows.On
December 21, 2019, BASF and an affiliate of Lone Star had signed a purchase
agreement for the acquisition of BASF’s Construction Chemicals business.
With around 7,500 employees, the Construction Chemicals business operates
production sites and sales offices in more than 60 countries and generated sales
of about €2.6 billion in 2019.
“Lone Star has been a professional partner in this transaction and is
committed to the future success of the business,” said Member of the Board
of Executive Directors of BASF SE. “We highly appreciate the tremendous
efforts to realize the carve-out and close the deal in such a fast and decisive
manner. We wish the Construction Chemicals team much success for the
future.”
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Leaps by Bayer (Germany) leads USD 17 million Series B financing in biotech
company Azitra
Leaps by Bayer, the impact investment arm of Bayer AG, announced a USD 8 million
financial investment in US-based clinical-stage medical dermatology biotech company
Azitra Inc. The partnership will focus on developing cutting-edge skin products using
engineered and wild-type bacteria for biotherapeutic, over-the-counter (OTC) and
cosmetic applications leveraging Azitra’s technology platform for both live therapeutic
products (LBPs) and consumer programs. Existing investors, Bios Partners and
Connecticut Innovations also participated in the round.Cure through microbiome health
is one of Bayer’s 10 leaps on which to focus investment. Recent scientific publications
suggest that microorganisms such as bacteria and especially skin-friendly bacteria,
commonly referred to as skin microbiome, can significantly contribute to the protection
of the skin from hostile invasions. Additional positive effects include supporting the
recovery from skin diseases such as atopic dermatitis, acne, and rosacea, and may also
accelerate wound healing.Building on a joint development agreement announced in
January 2020, Bayer and Azitra are collaborating to leverage Azitra’s proprietary panel
of Staphylococcus epidermidis strains to identify potential candidates for the treatment
of adverse skin conditions and diseases.
“Leaps by Bayer is investing in transformative technologies with the ability to move
the paradigm from treatment to cure”, said Head of Leaps by Bayer “The human
microbiome is a universe within and on our bodies that is currently poorly
understood but provides opportunities for breakthroughs in the broader healthcare
sector. Azitra’s cutting edge microbiome technology platform has the potential to
address multiple issues of the human skin.”
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Bombardier (Canada) Continues Global Customer Service Expansion, Sets Stage
for OEM Service in Europe
Bombardier announced that the company has entered into share purchase agreements with each
of Lufthansa Technik AG and ExecuJet Aviation Group AG to acquire all of the issued and
outstanding shares of Lufthansa Bombardier Aviation Services (LBAS) that it does not own. This
transaction enables Bombardier to further expand its worldwide customer support footprint by
establishing a wholly-owned service centre in Berlin. The transactions are subject to customary
closing conditions with closings anticipated to occur before the end of the year.Strategically
located at Berlin-Schönefeld airport, the service centre has been providing exceptional MRO
services to Bombardier business aircraft customers since 1997. With more than 160,000 sq. ft.
(15,000 sq. metres) of service capacity and 240 highly-skilled employees on site, the service
centre provides customers with the highest-level maintenance and support for Bombardier’s
growing fleet of Learjet, Challenger and Global business jets based in Europe, Russia, Africa and
the Middle East.The service centre has received several awards for its technical excellence and
customer satisfaction, thanks largely to an experienced and dedicated workforce. Among its
many milestones, it was named the best Authorized Service Facility in Europe multiple times and
was the first in Europe to perform maintenance on Bombardier’s flagship Global 7500 aircraft.
The state-of-the-art service centre recently modernized and transformed its shop floor to
maximize efficiencies and streamline processes, providing customers with an unsurpassed
service experience.
“Bombardier has had a strong presence in Germany for many years, and we are proud that
these significant transactions will continue to grow our presence in Europe as we work
towards establishing a wholly-owned Bombardier service centre in Berlin,” said Vice
President and General Manager, Customer Experience, Bombardier Aviation. “This
investment is critical to the expansion of our service footprint in Europe and around the
world, and as the service centre is set to become a wholly-owned Bombardier service centre,
our customers will benefit from even more advantages and expertise offered by the OEM.”
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Caterpillar (USA) Signs Agreement to Acquire Weir Oil & Gas
Caterpillar Inc. has signed an agreement to acquire the Oil & Gas Division of
the Weir Group PLC, a Scotland-based global engineering business.
Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of
pumps, flow iron, consumable parts, wellhead and pressure control products
that are serviced via an extensive global network of service centers located
near customer operations.The purchase price of $405 million is to be paid in
cash at closing. The acquisition requires approval by Weir shareholders and is
subject to review by various regulatory authorities as well as customary
closing conditions. The transaction includes more than 40 Weir Oil & Gas
manufacturing and services locations and approximately 2,000
employees.This acquisition is consistent with Caterpillar’s strategy to invest
for long-term, profitable growth through operational excellence, expanded
offerings and services. Caterpillar is taking advantage of its strong balance
sheet to complete this acquisition that supports the enterprise strategy.
“Combining Weir Oil & Gas’s established pressure pumping and pressure
control portfolio with Cat’s engines and transmissions enables us to create
additional value for customers,” said Vice President of Caterpillar’s Oil &
Gas and Marine Division. “This acquisition will expand our offerings to
one of the broadest product lines in the well service industry.”
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Celanese (USA) Completes Sale of Polyplastics, Unlocking Shareholder Value
Through Monetization Of Equity Investment
Celanese Corporation a global chemical and specialty materials company, announced it
completed the sale of its 45% equity investment in the Polyplastics joint venture to
Daicel Corporation for $1.575 billion, as originally announced on July 20.Through this
transaction, Celanese monetized a historically passive investment and expects to deploy
the proceeds from this all-cash transaction into higher value-generating opportunities.
These include the previously announced increase in share repurchases that will be
accretive to EPS to offset earnings from the Polyplastics joint venture, investments in
organic growth, and other judicious uses of cash consistent with Celanese’s disciplined
capital deployment strategy.As noted in the July 20, 2020 announcement, Celanese has
been investing in and rapidly growing its own Engineered Materials base business
globally over the last 10 years, independent of Polyplastics, with a footprint in Asia
significantly greater now than when the Company entered the region more than 50 years
ago through Polyplastics. The sale of Polyplastics is an intentional departure from a
legacy relationship to a more contemporary approach to independently drive future
growth, advance application development with customers, and pursue high-return
expansion opportunities for the benefit of Celanese and its customers.
“Celanese is well-positioned to continue its growth trajectory as we increase
investment in new product development to serve customer demand in growth
segments and key geographies,” said Senior Vice President, Engineered Materials,
Celanese. “We will continue to invest in product expansion to serve the growing
demand in applications such as 5G, advanced mobility, medical/pharma, and
sustainable materials. Celanese also plans to expand its manufacturing capacity and
advance its T&I capabilities in Asia to meet rapidly growing demand in the region.”
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Covestro (Germany) to acquire leading sustainable coating resins business from
DSM
Covestro has signed an agreement to acquire the Resins & Functional
Materials business (RFM) from Royal DSM. By expanding its portfolio in the
attractive growth market for sustainable coating resins, Covestro is taking a
significant step in its long-term corporate strategy to strengthen its sustainable
and innovation-driven businesses. Adding about EUR 1 billion in revenues
and an EBITDA of EUR 141 million (2019), the integration of RFM is a
substantial strategic growth opportunity to expand revenues of the Coatings,
Adhesives, Specialties (CAS) segment of Covestro by more than 40% to about
EUR 3.4 billion (2019 pro-forma). The acquisition creates one of the leading
suppliers in the field of sustainable coating resins, with one of the most
comprehensive and innovative product portfolios that enables a compelling
customer value proposition. Covestro agreed to a purchase price of EUR 1.61
billion, which will be financed through a combination of equity and debt
instruments.
CEO of Covestro: “This acquisition is an important step for our corporate
strategy. RFM enhances the growth trajectory of our business. By
combining our strong innovation capabilities, sustainable product
portfolios as well as complementary technologies and customer industries,
we will unlock significant value. At the same time, it is also a key step to
drive innovation for the transition towards a circular economy.“
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Covestro (Germany) successfully completes capital increase
Covestro has successfully completed the capital increase envisaged in
connection with the announced acquisition of Royal DSM’s Resins &
Functional Materials (RFM) business through partial utilization of its
Authorized Capital. As part of the capital increase, 10,200,000 new
no-par value ordinary bearer shares were placed with institutional
investors in an accelerated bookbuilding process. The placement price
of EUR 43.85 per share represents a discount of 0.9 percent compared
to the XETRA closing price of EUR 44.25 on October 13, 2020. The
gross proceeds amount to EUR 447 million. Covestro’s share capital
of EUR 183.0 million thus increases by approximately 6 percent to
EUR 193.2 million. The proceeds from the capital increase will be
used to finance part of the announced acquisition worth a total of EUR
1.61 billion.
Chief Financial Officer of Covestro: "With the completion of the
capital increase, Covestro is taking an important step in the
announced acquisition. This measure is a key element of the
financing: with a balanced ratio of equity and debt capital, we
clearly commit ourselves to our solid investment grade rating. The
successful placement of all offered shares is an impressive proof of
the capital market's confidence in Covestro and the financial and
strategic logic of the transaction.”
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Ingersoll Rand (Ireland) Awards $150 Million Equity Grant to Global Workforce;
Grant Value Equal to 20% of An Employee’s Annual Base Cash Compensation
Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial
solutions, celebrated its $150 million equity grant to nearly 16,000 employees worldwide
with a virtual ringing of The Opening Bell® at the New York Stock Exchange.From an
hourly assembly worker on the production line in Quincy, Illinois to a sales
representative based in Shanghai, China, all eligible employees received a grant equal in
value on the grant date to 20% of that employee’s annual base cash compensation.The
grant follows a similar approach Gardner Denver took a few years ago when it gave
employees ‘skin in the game’ in the company through an equity grant. When Gardner
Denver returned to the public markets in May 2017, CEO Reynal, along with Chairman
Pete Stavros, KKR’s Co-Head of Americas Private Equity and current Ingersoll Rand
Board Chairman, announced a grant of more than $100 million in deferred stock units to
all Gardner Denver employees worldwide. Employees who held on to that equity grant
have seen 80% appreciation. Over the last decade, Stavros and his team at KKR have
pioneered this model of employee ownership in manufacturing companies by granting
equity to employees in the industrials companies KKR acquires in the Americas,
including Gardner Denver.
“This is a $150 million investment in our employees,” remarked Chief Executive
Officer. “We are not aware of any other industrial company our size having done
something like this; it’s a meaningful way to build an ownership culture where all
employees can benefit from creating value as they all contribute to our success. Our
employees have carried us through the beginning of a successful integration between
Gardner Denver and the Ingersoll Rand Industrial segment, built a solid foundation
and now position us to pivot to growth and achieve great things in the future. United
by a common purpose and set of values, we believe our 16,000 employees around the
world are unstoppable.”
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Kubota (Japan) Invests in Slovenian Agritech Business
Kubota Corporationannounced that it has taken a stake in Efos, a Slovenian agritech business which has developed “Trapview”. Trapview was originally founded in
2007 in Slovenia and holds an expertise in monitoring of pests. With thousands of traps deployed in fields, the company currently owns the largest database of pest data
and algorithms in the world.
Background and investment rationale
• In a bid to promote open innovation through partnerships with external organizations, Kubota established in 2019 the Innovation Center in Japan and Europe as
divisions for the creation of new business ventures, products and services.
• The recent investments in three startups have allowed Kubota to deepen its knowledge of advanced agritech and its business models, thus accelerating the
development of its solution business in the agriculture sector.
• Trapview is an advanced service for "pest control," which significantly affects the yields ofthe crops. With automated traps placed throughout farms, they not only
capture pest insects but also use pictures sent from the traps to provide data, which is then analyzed by an AI-generated algorithm to predict pest occurrences. Without
this service and because pest insects grow quickly, it has been difficult to spray chemicals in a timely and effective manner. By combining massive database of pest data
and algorithms, however, Trapview achieves highly accurate predictions, thus assisting growersin taking timely and pertinent action.
• Kubota expects that the investment will accelerate innovation in the monitoring and forecasting of pests, offering and efficient solution for farmers and continue
driving its extensive experience in preventing the spread of pests and infections.
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Mitsubishi Chemical (Japan) Completes Acquisition of Gelest
Mitsubishi Chemical Corporation completed the acquisition of Gelest, Inc. from New Mountain Capital, LLC. on October 1,
2020. On April 30, 2020, MCC announced that its subsidiary Mitsubishi Chemical America, Inc. entered into a definitive
agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, Inc., the parent of Gelest, and a
portfolio company of NMC. MCC has now completed the acquisition, with Gelest becoming a wholly owned subsidiary of
Mitsubishi Chemical America. MCC will dispatch an executive to Gelest and establish a Post-Merger Integration Office within
the company to oversee the execution of identified strategies using the technology and capabilities of each organization to
positively impact the value delivered to customers and the organization’s performance. MCC will continue to execute its
strategy of enhancing its technology platform, leveraging its extensive R&D capabilities and pursuing new business
development opportunities in new markets to drive further expansion in the future.
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Mitsubishi Chemical (Japan) to Transfer Polymer Flocculant Sales Business
As part of portfolio management reforms based on the Mitsubishi Chemical Holdings Group’s medium-term management plan
APTSIS 20, Mitsubishi Chemical Corporation has concluded agreements to transfer its polymer flocculant sales business to MT
AquaPolymer, Inc. and Hymo Corporation. Once the transfer is complete, the two companies will outsource the manufacture of
polymer flocculants to MCC. The transfer is subject to obtaining approval from competition authorities. MTAP is a leading
Japanese manufacturer of polymer flocculants and handles the production and sale of the same types of products as those to be
transferred. Hymo is a water treatment solution manufacturer that has a record of joint research and development with MCC on
some of the products to be transferred. These agreements have been reached in the expectation that the handover to the two
companies of extensive sales networks built up by MCC and certain manufacturing technologies will reinforce the polymer
flocculant business, which is a strength of the two companies.
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MHI Group (Japan) Undertakes Investment in HydrogenPro of Norway,
Leading Producer of Advanced Electrolyzers
Mitsubishi Heavy Industries, Ltd. (MHI) has made a financial investment in HydrogenPro AS of Norway, a company engaged in the development and manufacture of
electrolyzers, devices that produce hydrogen by the process of water electrolysis. MHI subscribed to newly issued shares placed by HydrogenPro in an initial public
offering (IPO) undertaken to fund expansion of its business operations. MHI already provides various decarbonization technologies that allow for a realistic path
towards net-zero and will form the strategic partnership with HydrogenPro to further expand its portfolio and provide green hydrogen production plants to the market
going forward. HydrogenPro was established in 2013 based in the Norwegian city of Porsgrunn, Telemark County. The history of water electrolysis technology traces
back to 1927, when a fertilizer and heavy water plant employing water electrolysis technology was launched in Telemark by Norsk Hydro, a Norwegian state-owned
conglomerate. HydrogenPro has already developed a 9-megawatt (MW) class hydrogen production system (production capacity: 4.4 tons/day) adopting water
electrolysis technology incorporating a pressurized cells with alkaline electrolyte. Plans are now underway toward achieving a 100 MW class plant (capacity: 48
tons/day). Demand is growing for green hydrogen production plants, especially in Europe. France has announced a target of 6.5 gigawatts (GW) in electrolyzer capacity
by 2030, Germany is targeting a capacity of 5 GW by 2030, and 10 GW by 2040, while the EU aims at securing 40 GW of renewable hydrogen electrolyzers by 2030.
MHI's investment in HydrogenPro provides further financial stability and long-term certainty for projects utilizing green hydrogen to decarbonize various sectors.
MHI's investment in HydrogenPro not only signals its confidence in HydrogenPro's offerings, but more importantly, this investment underscores its confidence in the
green hydrogen market which will be supported by a multitude of electrolyzer manufacturers and technologies.
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Mitsui Chemicals (Japan) Acquires Hydrophobic, Anti-Reflective Coatings Maker
COTEC®
Mitsui Chemicals, Inc. announced that group company SDC Technologies, Inc. has acquired
COTEC® GmbH. Engaged in the manufacture, sale and research of hydrophobic and
anti-reflective coatings, COTEC® became a wholly owned subsidiary of SDC on October 1,
2020.The Mitsui Chemicals Group’s Vision Care Materials Division boasts a diverse product
range. Its ophthalmic lens materials include the MR™ series of high refractive index optical lens
materials, as well as medium and low refractive index lens materials. In the field of coating
materials, the Mitsui Chemicals Group followed up its acquisition of SDC in 2008 by using the
group company to bring anti-fog coating specialist FSI Coating Technologies, Inc. under its
umbrella in 2010. UV-curable hard coatings producer LTI Coating Technologies, LTI was then
acquired in 2014 before being subsequently integrated with SDC in a 2017 absorption-type
merger. Now with hydrophobic and anti-reflective coating expert COTEC® as its latest
acquisition here, the Mitsui Chemicals Group is looking to enhance its offering of coating
solutions for the ophthalmic lens market.The Mitsui Chemicals Group intends to continue
expanding the portfolio of its Vision Care Materials Division and, based on the concept of Quality
of View (QoV),* will continue to pursue its commitment to product development aimed at vision
correction and improving the health and comfort of the eyes. It is all part of the Mitsui Chemicals
Group’s effort to bring people a better view of the world.
“Together we can provide coating materials for all layers of a complete eyewear lens coating
stack,” saidCEO and President of SDC. “From Mitsui Chemicals’ innovative MR™ series of
high refractive index optical lens materials, to SDC’s CrystalCoat™ top layer best-in-class
abrasion resistant hard coats, to COTEC®’s anti-reflective coating materials and
DURALON brand family of nanocoatings offering easy-to-clean finger-print, and
anti-smudge and oil/ water repellency.”
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Rockwell Automation (USA) Acquires Cybersecurity Company
Rockwell Automation, Inc., a global leader in industrial automation and
digital transformation announced that it has acquired Oylo, a
privately-held industrial cybersecurity services provider based in
Barcelona, Spain. Oylo is dedicated to providing a broad range of
industrial control system (ICS) cybersecurity services and solutions
including assessments, turnkey implementations, managed services and
incident response.The acquisition of Oylo demonstrates Rockwell
Automation’s commitment to providing best-in-class cybersecurity
services and solutions. Oylo’s OT cybersecurity expertise complements
the IT cybersecurity expertise gained through the recent acquisition of
Avnet Data Security. The addition of Oylo further accelerates our global
delivery capability in this rapidly developing market and expands the
offering of cybersecurity services available to the industrial market.
“As connected smart devices are introduced into the plant floor,
having a comprehensive cyber security strategy that spans across
industrial operational technology (OT) and information technology
(IT) is more critical now than ever before. We are dedicated to the
success of our customers in their Connected Enterprise journey, and
the deep domain expertise that Oylo brings to Rockwell Automation
will further accelerate our ability to provide this expertise globally,”
said Senior vice president, Lifecycle Services at Rockwell
Automation.
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PPG (USA) Reports Record Third Quarter 2020 Financial Results
• Net sales of about $3.7 billion, 4% lower than the prior year
• Net sales continued to be impacted by the economic effects of the COVID-19 pandemic
• Record reported earnings per diluted share from continuing operations (EPS) of $1.86 and
adjusted EPS of $1.93
• Strong aggregate segment operating margins compared to the third quarter 2019, supported by
sales volume recovery and ongoing cost management actions
• Quarterly operating cash flow generation of more than $800 million; higher than third quarter
2019
• Third quarter 2020 reported net income from continuing operations was $442 million, or $1.86
per diluted share.
• Adjusted net income from continuing operations was $458 million, or $1.93 per diluted share.
Adjusted figures exclude after-tax items of $16 million for hurricane-related expenses and
restructuring-related costs.
• Third quarter 2019 net income from continuing operations was $366 million, or $1.54 per diluted
share, and adjusted net income from continuing operations was $396 million, or $1.67 per diluted
share.
• The third quarter 2020 reported and adjusted effective tax rates were approximately 22%,
compared to the third quarter 2019 reported and adjusted effective tax rates of 23%. Detailed
reconciliations of the reported to adjusted figures are included below.
“As reported earlier this month, we delivered record operating results in the third quarter, with
both of our reportable business segments delivering higher segment income than the prior year,
despite continued, negative pandemic-related economic effects,” said PPG chairman and chief
executive officer. “Strong year-over-year organic sales growth in global architectural coatings
and continued cost management drove earnings growth in our Performance Coatings reporting
segment. In addition, our leading technology and service capabilities benefited us as demand for
automotive OEM coatings and general industrial coatings began recovering in the quarter,
generating strong PPG operating leverage and boosting earnings in our Industrial Coatings
reporting segment.
25
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Sandvik (Sweden) to divest its Exploration business
Sandvik has signed an agreement to divest its Exploration business to
Drillman, a subsidiary of the M Group of companies, which is 100% owned
and operated in Australia. Drillman provide equipment and technical
support to the Geotechnical, Mineral Exploration, Horizontal, Directional
and Upstream Gas Drilling sectors, among others. The deal includes
exploration rigs, consumables and production stock, along with selected
trademarks and patents. The business is currently reported in Sandvik
Mining and Rock Technology.The parties have agreed not to disclose the
purchase price and the closing is subject to relevant regulatory approvals.
The Exploration business will remain consolidated in the financial
statements of Sandvik Mining and Rock Technology until closing of the
transaction, which is expected during the fourth quarter 2020. In 2019, the
Exploration business had revenues of about SEK 450 million and a margin
slightly dilutive to Sandvik Mining and Rock Technology.
“I am pleased that we have signed an agreement to sell our Exploration
business as this is in line with our focus to further improve the efficiency
and profitability of our company,” says President and CEO of Sandvik.
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Sandvik (Sweden) to acquire software company CGTech
Sandvik has signed an agreement to acquire US based CGTech, a
global market leader in software for numerical control (NC/CNC)
simulation, verification and optimization. The product offering
includes VERICUT®, a machining simulation and optimization
software which is CAM, machine tool manufacturer and cutting tool
neutral and works stand alone or in conjunction with all major CAM
suppliers. The company will be reported in Sandvik Coromant, a
division within Sandvik Machining Solutions.The combined
machining expertise of Sandvik Coromant and CGTech will
enhance the Group’s capabilities in machining intelligence,
strengthen the software offering and facilitate an improved presence
in key areas of the customer value chain.
“It’s exciting to say that we are able to expand our capabilities
with CGTech. This will not only strengthen our leading market
position in all parts of the world but will as well enable us to take
a big step forward in offering full machining solutions to our
customers, which will reduce waste significantly in their broader
value chain,“ says President of Sandvik Machining Solutions.
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SKF (Sweden) invests in strengthened competitiveness in North America
SKF is investing approximately SEK 550 million in strengthening
its manufacturing footprint and competitiveness in North
America.Approximately SEK 350 million is being invested in
expanding and automating manufacturing processes at the Group’s
factory in Sumter, South Carolina. A further SEK 200 million is
being invested in localizing manufacturing of Tapered Roller
Bearings (TRBs) from China to an existing manufacturing site in
Mexico. The transfer supports the Group’s regional manufacturing
ambitions and will strengthen SKF’s North American product
offering.The resulting improvements in flexibility and service levels
enable the Group to consolidate its factories in Avon, Ohio and
North Charleston, South Carolina into the Sumter factory.
President, Industrial Sales, Americas, says: “These investments
illustrate SKF’s commitment to better serving customers in the
region and will improve both our flexibility and competitiveness.
While this is an essential step for SKF, we do not take decisions
that impact our employees lightly. We are deeply appreciative of
our employees in Avon and North Charleston and we are
committed to fully supporting them as they transition to roles
outside SKF.”
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Swire Pacific (Hong Kong) Participates in US$70 Million Financing Round for
Asia's Leading Plant-based Food Business Green Monday Holdings
Swire Pacific Limited announced its participation as one of the lead investors in
Green Monday Holdings' latest US$70 million fundraising round, the largest of its
kind to date in Asia. The other lead investor was TPG's The Rise Fund. Green
Monday also received strong support from premium institutional and individual
investors across multiple geographies, including CPT Capital, Jeffries Group, Sino
Group's Ng Family Trust, James Cameron and Wang Leehom, among others.
Headquartered in Hong Kong, Green Monday operates OmniFoods and Green
Common. OmniFoods is a food tech company that produces alternative protein
products including OmniPork, OmniPork Luncheon, OmniPork Strip and OmniEat.
Green Common provides a total plant-based food retail, distribution and dining
operation. Swire Pacific's investment in Green Monday was made as part of the
Company's strategy to identify new and diversified investment opportunities with a
strong sustainability element. Green Monday's innovative social enterprise model
that promotes a plant-based diet as a crucial means to tackle global warming and food
crises aligns with the Company's longstanding sustainability vision and goals.
Co-Founder and CEO, Green Monday Group, said, "We are delighted to be
partnering with global leading institutions and investors who share our vision and
are aligned in solving some of the planet's most imminent challenges like climate
change, public health and food crises not only here in Asia but also worldwide.
Now with Swire Pacific and our other mission-aligned partners, we are another
step closer to achieving our common goals."
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Toll Brothers (USA) Announces Acquisition of Keller Homes to Drive
Expansion into Colorado Springs Market
Toll Brothers, Inc., the nation’s leading builder of luxury homes, announced its expansion into the Colorado Springs market through the
acquisition of Keller Homes, one of the top private home building companies in Colorado Springs. Rated in 2020 by USA as the “#1
Hottest US Housing Market” and in 2019 by US News & World Report as #3 “Best Place to Live”, Colorado Springs is a dynamic
housing market which will complement Toll Brothers’ current operations in metro Denver and Fort Collins.David Keller, a 1974 West
Point graduate, founded Keller Homes in 1983. His wife Pam has overseen Sales and Marketing functions. Since inception, Keller
Homes has built nearly 4,000 homes in the Colorado Springs market. The Company serves a wide range of homebuyers including
first-time, move-up, and move-down buyers at price points from the mid-$400,000s to over $700,000. At the date of acquisition, the
Company had approximately $44 million in backlog consisting of 84 homes with an average price of $520,000.Keller Homes is a
capital-efficient operator that brings a solid supply of controlled lots and a diversified presence across Toll’s luxury, affordable luxury
and active living offerings. In addition to Keller’s existing backlog of 84 homes, Toll Brothers has acquired rights to purchase over 300
lots Keller controls throughout Colorado Springs. Currently, the company has 4 actively selling communities.
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Volvo Group (Sweden) – the third quarter 2020
• In Q3 2020, net sales amounted to SEK 76.9 billion (98.7). Adjusted for currency
movements, net sales decreased by 16%.
• Adjusted operating income amounted to SEK 7,217 M (10,885), corresponding
to an adjusted operating margin of 9.4% (11.0).
• Reported operating income amounted to SEK 7,508 M (10,885).
• Currency movements had a negative impact on operating income of SEK 1,499
M.
• Diluted earnings per share amounted to SEK 2.81 (3.67).
• Operating cash flow in the Industrial Operations was positive in an amount of
SEK 11,712 M (1,831).
“In Q3, utilization of trucks and machines gradually improved as COVID-19
restrictions were eased. Towards the end of the quarter transport activity was
back on roughly the same level as a year ago in most markets. This led to an
improved sentiment among our customers, which is reflected in increased order
intake for trucks, engines and construction equipment as well as a gradually
improving service business. In the last two quarters, our organization and
business partners have shown great volume flexibility by first handling a
dramatic volume decline and then a steep recovery with good productivity
maintained. However, the weak order intake in the previous quarter impacted the
Group’s net sales in Q3, which amounted to SEK 76.9 billion – 16% lower than
a year ago adjusted for currency. Our service business is more stable, with
currency-adjusted revenues coming down by only 1% compared to Q3 last year
and with a sequential improvement. Despite the sales decline we achieved an
adjusted operating margin of 9.4% (11.0) thanks to significant cost reductions,”
says President and CEO.
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Wärtsilä (Finland) to divest its Valves business
The technology group Wärtsilä announces the divestment of 100% of the
shares in Wärtsilä Valves Ltd to an affiliate of Evergreen Capital L.P., based
in New York, US. Wärtsilä Valves Ltd. supplies the entire range of three
long-established brands: Shipham, John Mills and Robert Cort. Its activities
include engineering, assembly, testing, sales and delivery of nickel
aluminium bronze (NAB) and duplex valves for marine, oil & gas and
energy markets. Additionally, Wärtsilä Valves offers applications for
Valves’ products, including e.g. FPSO, petrochemical facilities, power
generation, LNG, naval marine, marine services, waste water treatment
plants and pipelines. Wärtsilä Valves became part of the Wärtsilä group as
a result of the Hamworthy acquisition in 2012. The company is located in
Brough, UK and currently has approximately 65 employees. The annual
revenues were approximately EUR 15 million in 2019.
President, Wärtsilä Marine Systems and Head of Portfolio business said:
“Wärtsilä is focusing on creating a stronger and simpler core whilst
making sure the non-core businesses get an opportunity under a new
ownership to be able to drive their business success and better serve
their customers. Valves largely serves different markets than Wärtsilä
and as such we are sure that as an independent set-up, Valves will find a
good home with Evergreen Capital”.
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Solutions Updates
Manufacturing Industry

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Airbus (Netherlands) Corporate Jets launches ACJ TwoTwenty business
jet
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Solution Description
Airbus Corporate Jets has launched the ACJ TwoTwenty business jet, creating a whole new market segment “The Xtra Large Bizjet. ”This offer includes for the first time a
flexible cabin catalogue, addressing the requirements of the heavy and long-range business jet categories.While occupying the same parking space and being able to take off
from the same airports as competing business jets, the ACJ TwoTwenty will offer three times more cabin space, yet with a third less operating costs benefiting from the high
performance of Airbus’latest A220 Family. The A220 Family is the quietest, cleanest and most eco-friendly aircraft in its category, featuring a 50 percent reduced noise footprint
compared to previous generation aircraft, and up to 25 percent lower fuel burn.The ACJ TwoTwenty is a clean-sheet design aircraft, based on Airbus’ A220-100, featuring
advanced materials and state-of-the-art technologies. The cabin will offer two times better connectivity than its competitors, a Wi-Fi system across all the cabin and latest
innovations such as electro-chromatic windows and LED lighting.The ACJ TwoTwenty will have an increased range enabling the aircraft to fly up to 5,650 nm/10,500 km (over
12 flight hours), directly connecting city pairs like London and Los Angeles, Moscow and Jakarta, Tokyo and Dubai as well as Beijing and Melbourne, benefitting the entire
A220 Programme.Comlux, with its ACJ-approved completion center in Indianapolis and proven experience in outfitting and upgrading VIP interiors, has been selected as
exclusive partner for the outfitting of the first 15 cabins to the latest addition of the ACJ programme. Leveraging Comlux’s long standing experience in business jet operations
as well as cabin outfitting, its knowledgeable completion team is partnering with ACJ’s Head of Creative Design, Sylvain Mariat. He is recognized for having created the most
innovative flying experiences.Airbus Corporate Jets is putting all its knowledge in terms of cabin design into this new aircraft, supported by the experience of having delivered
already around 90 cabin turnkey solutions over several decades to the most demanding clients all around the world.

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New strategic sites monitoring solution developed by Airbus
(Netherlands) and Earthcube
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Airbus has joined forces with Earthcube, a French company specialising in the analysis of geospatial data using Artificial
Intelligence (AI), to develop and market "Defence Site Monitoring", an online solution for strategic site monitoring dedicated to
defence actors, combining advanced satellite imagery and AI. The new "Defence Site Monitoring" solution combines Earthcube's
expertise in the automatic identification of objects with high-resolution images from Airbus‘50cm Pléiades satellites and from
2021, using even higher-resolution 30cm imagery from its Pleiades Neo constellation. The algorithms used are already capable
of automatically detecting, identifying and classifying aircraft and ships, both civil and military.Image Analysts can access
Defence Site Monitoring via a fully secure area on the Airbus OneAtlas digital platform. They can monitor their areas of interest
and receive automated alerts and trend analysis reports.Through this collaboration, Airbus and Earthcube are demonstrating true
European know-how and a capacity to meet the most demanding needs of the intelligence services and our troops engaged in the
various theatres of operation.

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First 100% UV cured wood coatings open window of opportunity for
AkzoNobel (Netherlands)
35
Window manufacturers can now make their production process more efficient and sustainable with a new instant drying solution
from AkzoNobel. The company’s RUBBOL 100% UV cured exterior range of Sikkens wood coatings is the first of its kind. By
cutting out up to 16 hours of drying time, the coating system can significantly save on production time and energy costs, while
providing leading performance. Since the product range produces zero emissions and requires no mixing, it makes the production
process more sustainable, another important factor for many of our large-scale customers.The coating system consists of a putty,
primer and topcoat for wood window frames and a topcoat for PVC window applications. Despite fast-tracking the application
process, the products continue to deliver on the high expectations of the Sikkens brand – offering very good adhesion, excellent
durability and strong technical performance.The new 100% cured UV range is part of AkzoNobel’s global weathering program.
With weathering test locations in Europe, North America and Asia-Pacific, AkzoNobel is able to evaluate more than 200,000
samples in a variety of climate conditions and monitor their long-term durability.

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BASF (Germany): Ultrasim®: Simulation now for elastomers
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BASF expands the application range of its simulation tool Ultrasim®: as of now, the CAE tool also calculates component concepts based on elastomers, especially
Elastollan®, BASF’s thermoplastic polyurethane (TPU). The simulation covers the entire process chain from initial processing to the mechanical properties of the
final product. Among the special features of the simulation with Ultrasim® are options to simulate both the initial load and cyclic loads of a component. The
calculation of component concepts based on elastomers with Ultrasim® is now available.The property profile of elastomers typically includes stress softening
(Mullins effect) under cyclic loading. For reliable simulation results, the consideration of this material behaviour is indispensable. Ultrasim® allows the precise
description of stress softening during a cyclic course of loading.
Exact forecast of material behavior
However, the simulation usually starts in the stage of initial processing, delivering an exact forecast of the warpage behavior during injection molding, considering
the complex visco-elastic behavior of the material. The simulation with Ultrasim® is now available for several Elastollan® grades. Further grades are currently in
the characterization process.Elastollan® is used in automotive parts such as strain relief sleeves on electric connectors, spring isolators at the axles, folding bellows
and end stops for shock absorbers. In interior parts, door handles and gear knobs are produced with TPU. Beyond that, Elastollan® is frequently employed in the
consumer goods sector: application examples include ski boots, shoe soles and cable sheathings.

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BASF’s (Germany) innovative DURA-COLOR Technology achieves
anti-aging promise to keep paint looking new and fresh
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BASF has introduced its innovative DURA-COLOR Technology, an anti-aging paint concept that helps protect paint from deterioration over a long
period. This revolutionary binder technology is built to deliver durable performance for exterior paints, especially in terms of color and cleanness.
Exterior wall coatings are exposed to sunlight, rain, dirt and various pollutants every day, and these factors accelerate the aging of the paint. Renovation
is one way to keep buildings looking new and fresh. However, property renovation can be costly, complex, and it increases overall carbon emissions.
BASF, being an all-round construction solution expert, is eager to develop binders for quality paints to tackle these challenges. BASF’s DURA-COLOR
Technology consists of three key innovations, including a controlled sequence polymerization, utilization of specialized cross-linking, and an optimized
reactivity. Paints based on these two revolutionary polymers can realize excellent color-retention, superior dirt-pick-up-resistance, and outstanding
efflorescence and alkali resistance.Acronal® EDGE 7686 and Acronal® EDGE 7685 are new products under BASF’s DURA-COLOR Technology
portfolio. They have a wide formulation latitude and broad compatibility with various raw materials, especially color pigment dispersions, and offer
great flexibility in the final color space. Acronal EDGE 7686 offers durability and high dirt resistance for premium exterior coatings. Acronal EDGE
7685 is the corresponding recommendation for high performance in low cost-in-use formulations.

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BASF (Germany) and Casio Computer Company cooperate to reach next
level of robustness and performance for digital fitness watches
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Casio Computer Company, Tokyo, now uses BASF’s high-performance plastic Ultramid® Advanced N in its latest digital watch G-Shock GBD-H1000. The new
flame retardant polyphthalamide (PPA) is used to manufacture the terminal header which sits on the terminal block and contributes to power charging and data
synchronization. The high heat resistance as well as the exceptional mechanical and dimensional stability of the BASF material enhance the robustness,
functionality and performance for which the G-shock watches are renowned. Due to its low moisture uptake and high heat deflection temperature, the BASF PPA
is especially suitable for Surface Mount Technology (SMT) processes in electronics manufacturing as it prevents blistering or changes in dimensions of the
processed part. With its intrinsic good laser transparency, Ultramid® Advanced N also offers more freedom for post-processing. The newly launched GBD-H1000
sports watch serves as a fitness tracker with five different sensors. This requires a combination of technologically innovative and durable materials that are resistant
to chemicals, shock and water especially during extreme sports. Ultramid® Advanced N displays excellent dimensional stability under humidity and heat as well
as exceptional chemical resistance while having good adhesion to the metal terminal block. This prevents water leakage under harsh conditions and fulfills the
waterproof requirements of Casio. The part made of the BASF PPA is about 1.2cm wide with a wall thickness of 0.2 mm and weighs less than 0.1 gram: The
material thus contributes to downsizing while keeping high mechanical strength. The successful collaboration between Casio, BASF and the Taiwanese connector
company Aces Electronics has not only enhanced Casio’s ultimate tough watch design concept but also increased the speed and efficiency in delivering the right
material for the G-Shock GBD-H1000. With the BASF PPA, Casio can make watches more durable while integrating new digital and interactive functions.

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BASF’s (Germany) innovative solutions help manufacturers meet
athleisure trend
39
BASF unveiled innovative solutions for the fashion industry at the Intertextile Shanghai Apparel Fabrics Autumn 2020 edition. The booth themed “Athleisure”
will showcase solutions that help the fashion industry fabricate comfortable body-shaping apparel with improved durability and elasticity from September 23 – 25,
2020. These solutions are designed for a multitude of applications, such as sportswear, streetwear and underwear. This is in line with an increasing trend of
consumers looking for clothes they can wear to a workout, as well as fashionably on the streets and in the workplace. At the event, BASF will also reveal its
“PolyTHFTM Inside” brand for soft spandex and FreeflexTM fiber for streetwear collections.When applied to soft spandex, “PolyTHFTM Inside” offers superior
elasticity and enhanced comfort, making apparel, such as sportswear, underwear and ready-to-wear clothing, easy to wear while offering improved body-shaping
attributes. It also enables softness of the materials even at extremely low temperatures of -30ºC when compared with generic spandex. At the same time, apparel
manufacturers can benefit from the materials’ excellent performance and stable production process while reducing carbon emissions.The booth will also feature
the Freeflex™ fiber made from Elastollan® thermoplastic polyurethane (TPU). The versatile fiber provides a significant breakthrough in the fashion and footwear
industry with its eco-conscious manufacturing techniques. It permits intricately crafted and stitched designs that ensure premium quality. Freeflex™’s rigid and
thermal moldable fiber, which is perfect for shoe upper applications, will be featured exclusively in this event. This fiber is not only known for its strength and
excellent rigidity but also its versatility. Freeflex™ can conform to any shape or style while ensuring sensorial comfort for the wearer. Also, the all-purpose material
can change the colors and appearance even for the most complex textile designs.

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BASF (Germany) announces series of new product innovations in its
selective hydrogenation catalysts portfolio
40
A new series of commercially proven alumina catalysts is now available with new performance features that can benefit selective
hydrogenation applications such as first stage PYGAS or selective hydrogenation of dienes in C4 olefin streams. This new series of
Pd on spherically shaped E15x catalysts replaces the E14x series of Pd alumina catalysts which have been used commercially for over
thirty years in selective hydrogenation applications. The new series of alumina supported catalysts offers better activity and tolerance
to poisons such as sulfur due to higher Pd dispersion. The catalysts are also very uniform in size and shape which helps to prevent
mal distribution of feed in fixed bed reactor applications. This new series of selective hydrogenation catalysts is available with Pd
contents ranging from 0.15 to 0.75 % Pd and can be produced in BASF plant sites in Europe and the United States as well. Another
innovation is the new purified terephthalic acid (PTA) catalyst CBA-250 which offers lower Pd content compared to the standard
commercial PTA catalysts CBA-300 and CBA-400 as well as standard competitive PTA catalysts which have much higher Pd
contents. The lower Pd content makes CBA-250 commercially attractive and easy to adopt as it is formulated to be equivalent to
standard commercial PTA catalysts.

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John Deere (USA) To Expand TimberMatic™ Maps and TimberManager™
Job Site Visualization To Include Waratah H-16 Production Data
41
Increasing job site visibility and visualization, John Deere expands its TimberMatic™ Maps and TimberManager™ software to seamlessly incorporate data
from the Waratah H-16 Measuring System. With the new capability, the TimberMatic Maps system collects production data from harvesting heads equipped
with the Waratah H-16 system, providing real-time production data of processed timber linked to location through the in-cab monitor and synched to the
cloud-based TimberManager. Job site progress data is then accessible to off-site managers or employees through a phone, tablet or computer using the
TimberManager software. The software pairing is available for John Deere tracked harvesters or forestry swing machines equipped with harvesting heads
using the Waratah H-16 Measuring System. Additionally, the TimberMatic Maps and TimberManager are included in-base on new machines ordered with a
factory H-16 Measuring System. A retrofit option can be downloaded and installed at no additional charge on existing machines utilizing the H-16 system.
Machines must be equipped with 4G MTG and an active JDLink™ Telematics subscription.Launched in 2018, TimberMatic Maps and TimberManager
enhance machine connectivity and communication. The TimberMatic Maps solution features mapping software for use in the field, leveraging a mobile
network to share real-time production data between operators and office managers in the office. Data is collected through sensors on the equipment, while
production location is gathered through GPS technology. This data is then shared to the cloud, where managers can access TimberManager from a PC, tablet
or phone, allowing them to track job site progress remotely.

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Dover Food Retail (USA) Launches Optimax 7 Series Led Lighting
Optimizing Merchandising And Energy Savings
42
Dover Food Retail, part Dover announced the launch of the newest generation Optimax lighting series, the Optimax 7 Series
LED. The newly designed Optimax 7 Series offers food retail operations optimized refrigerated case merchandising by
providing superior uniformity, high-color rendering, optimal product illumination and reduced energy usage. The Optimax 7
Series is specifically designed to help retailers enhance the presentation of merchandise and increase cold-vault sales. This
new series features high-color rendering LEDs for displaying natural colors, enhanced product visibility, color saturation and
clarity, creating a merchandising pop. Dover Food Retail’s Optimax 7 Series does this by optimizing all aspects and values of
Lumen output, LUX incidence on targeted areas and color rendering.The Optimax 7 Series LED lighting features Low Power
for walk-in applications only; Standard Power designed for single-swing doors; and French for French Swing applications.
Both the Standard and French are being offered in 3500K or 4000K CCT and have longer fixture lengths for improved
lighting distribution.

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Dover (USA) Fueling Solutions Launches DMP Probe
43
Dover Fueling Solutions, part of Dover and a leading global provider of advanced customer-focused technologies, services and solutions
in the fuel and convenience retail industries, announced the launch of a brand-new addition to its family of fuel management products,
the DFS DMP™ Probe. As the only probe from DFS that can be purchased, installed and used anywhere in the world, this global solution
is set to revolutionize fuel management for fuel retailers. Using magnetostrictive technology, the DMP probe provides continuous, highly
accurate readings of liquids from inside fueling tanks. The probe is launching as a wired model, with the release of the wireless model
expected to follow later in the year. The DMP has the ability to monitor all fuel types and additives, including biofuels and AdBlue®,
while also supporting density, phase separation, leak detection and inventory management through the purchase of optional density float
kits and aqueous ethanol floats (AEF).The DMP probe is compatible with a wide range of DFS’ fuel management products, including the
ProGauge™ MagLink LX™ family of consoles, the ProGauge MagDirect™ console, the Wayne Fusion™ Automation Server, and the
OPW Fuel Management Systems SiteSentinel® Nano™ and Integra™ consoles, and also has a range of impressive certifications,
including ATEX, OIML, UL and IECEx.

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Ecolab (USA) Launches Automated Precision Dispensing System for
Membrane Cleaning Chemistries
44
Ecolab, the global leader in water, hygiene and infection prevention solutions and services, has introduced the Precision Dispensing
System for Membranes, an accurate, easy-to-use and reliable programmable logic controller-based (PLC) cleaning chemical dispenser
that helps improve worker safety, drive productivity and extend asset life for whey processors.The Precision Dispensing System for
Membranes is part of Ecolab’s comprehensive Ultrasil™ Membrane Program, which provides best-in-class chemistries, automation and
technical support. The new membrane cleaning system utilizes advanced flow-based sensors to accurately dispense cleaning chemicals.
It has separate dispensing modules for acid and alkaline chemistries to help eliminate non-compatible chemical interactions and can dose
cleaning chemicals for up to five membrane systems within a plant.The system provides chemical dosing accuracy within +/- 20
milliliters to maximize cleaning performance. Increased dosing accuracy helps to ensure system cleanliness and improve product
quality.The Precision Dispensing System for Membranes program includes a web-based reporting dashboard that provides visibility into
chemical usage for each membrane system using the dispenser. Additional features include real-time alert systems, pre-configured washes
and varying levels of access for users.

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Emerson’s (USA) New Flow Meter Delivers Accuracy and Stability for
Demanding Hydrogen Applications
45
Emerson has introduced a new Micro Motion™ Coriolis flow meter designed for high-pressure hydrogen dispensing and chemical injection
applications where measurement accuracy and safety are essential. The Micro Motion Coriolis HPC015 flow meter is capable of a flow accuracy margin
of 0.5% for gas and 0.1% for liquid mass flow measurement, a significant improvement over existing meter. The meter performs under wide pressure
and temperature fluctuations, ensuring security and reliability, while onboard diagnostic tools eliminate the need for pre-inspections or interim
maintenance checks, saving time and money. The demand for hydrogen, an abundant and renewable energy source, is growing due to its use in fuel cells
for low-emission vehicles, fertilizers, glass and metal production, as well as the energy sector. Hydrogen is stored at very high pressure usually at around
963 bar, which creates challenges to find equipment to aid in producing, storing and dispensing the gas safely and effectively.One of the main
applications uses for the HPC015 is accurately measuring the flow of hydrogen gas is to effectively manage costs in large-scale custody transfer
applications, such as public transportation systems, where hydrogen fuels are used to power hybrid bus engines.A second, significant market for the
HPC015 is in other high-pressure applications such as injecting methanol, corrosion inhibitors and other chemicals downhole at high pressure; an
application that poses particular challenges. The HPC015 is designed to accurately and reliably dose chemicals at pressures up to 1,060 bar (15,374 psi)
to ensure pipeline integrity and avoid events like plugging, which can halt production.

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Emerson (USA) Introduces Industry’s First Pneumatic Valve System with
Embedded Wireless Connectivity
46
Emerson has introduced a wireless automatic recovery module (ARM) for its AVENTICS™ G3 electronic fieldbus platform that makes it easy for technicians to
perform pneumatic valve system commissioning and diagnostics from a mobile phone, tablet or laptop computer.The new wireless ARM module and AVENTICS
G3 fieldbus platform are ideal for pneumatic valve system applications in the automotive, food and beverage, tire, packaging and metalworking industries.The
wireless ARM module provides easy access to the AVENTICS G3 fieldbus platform’s diagnostic and commissioning capabilities via an internal Wi-Fi access point
and mobile website — even when the valve system is located inside a machine or on a ceiling. It offers the visual benefits of a hard-wired human machine interface
(HMI) at lower cost and with higher flexibility. The wireless ARM module generates error notification for alarms, voltage levels, short circuits, module errors, open
load errors and distribution errors to reduce system downtime.The device has a small footprint that connects easily to the AVENTICS G3 fieldbus platform in the
space of a jumper clip. It features three power settings for low-, medium-, or high-distance signals to ensure safe and secure access to data — regardless of where
the valve system is mounted. Additional security benefits include wireless signal that can be turned off during configuration, multiple password options, and
diagnostic and commissioning information provided with no control capability.The wireless ARM module is compatible with Ethernet/IP DLR, and PROFINET
protocols. Additional protocols are targeted for future release.The wireless ARM module also protects the AVENTICS G3 fieldbus platform’s configuration
information from a critical failure, including all settable node and attached I/O module parameters.

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Emerson (USA) Launches Unique Heat Staking Technology to Meet
Growing Demand for Complex Plastic Parts
47
Emerson has introduced new heat staking technology designed to give manufacturers greater design freedom by enabling them to join more complex,
delicate and sensitive components to plastic moldings. Using a unique pulse staking technology that optimizes the heat staking process, the Branson™
GPX platform produces high-quality joins, superior product aesthetics and energy savings in increasingly challenging applications. Electronics,
automotive and medical device manufacturers must produce more creative designs to meet rapidly changing market demand. This has led to an increase
in challenging heat staking applications involving parts with more complex 3D geometries, closely aligned features and fragile or heat-sensitive
components, such as soldered components or sensors, and using a greater number of blended, glass-reinforced, chromed and metallicized plastics. The
Branson GPX platform uses PulseStaker technology to provide instantaneous heating and cooling, with adjustable cycle times for optimized, low
energy heat staking. The process creates no particulates or burn marks, and enables more delicate and sensitive parts, such as those with embedded
electronics, to be joined with consistently high-performance finishes. The advanced technology is suitable for all heat staking applications, including
those with thermoplastic materials and metalized coated parts. A wide range of heat staking tip designs, which can be adapted to meet any stake welding
requirement, and the ability to stake multiple points simultaneously provide manufacturers with greater design freedom.

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Emerson’s (USA) New Motion Control Portfolio Delivers Flexibility,
Scalability and Reliability
48
Emerson announced its new PACMotion™ servo motion control portfolio to offer an integrated automation solution for
high-performance industrial applications. The portfolio includes a new motion controller that connects directly into the PACSystems™
RX3i programmable logic controller backplane for high-speed, high-precision performance with synchronized motion for up to 40
coordinated axes, enabling end users to scale up their motion systems without sacrificing performance. The complete PACMotion
portfolio includes motion controller, servo motors, servo drives and motion configuration software for applications in packaging,
printing, material handling, semiconductors, food & beverage, and general manufacturing. The new PACMotion PMM345 motion
controller operates exclusively with PACSystems™ RX3i controllers, simplifying the architecture for seamless integration, while
enabling higher speeds and greater precision. Emerson’s patented technology enables precise, jerk-free positioning, preventing material
slippage and production losses and improving machine efficiency. On-the-fly electronic reconfiguration allows users to implement rapid
changeovers without stopping production to deliver shorter production runs and increased machine utilization.

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OESH® Shoes 3D Prints 100% Recyclable Soles Using Huntsman (USA)
TPU Elastomers
49
OESH® Shoes (OESH), the U.S. footwear brand that makes women’s shoes that are “healthy by design,” has been evaluating how Huntsman’s
thermoplastic polyurethane (TPU) materials can be used to create a 100% recyclable shoe sole via 3D printing – with positive results.Founded by,
a Harvard M.D., OESH Shoes has been providing women with innovative, healthy footwear since 2011. As an internationally known researcher,
who studied the effects of footwear on health, Kerrigan discovered that many common features of shoes can adversely affect posture and joints.
She subsequently created OESH Shoes to translate her research findings into the design of healthy shoes.When OESH contacted Huntsman,
seeking advice about the ideal material to use for 3D printing soles, Huntsman’s footwear team recommended TPU materials that had the specific
comfort and performance properties OESH desired. Keen to offer environmentally conscious customers a fully recyclable shoe, Kerrigan and
Huntsman worked together to evaluate the material and determine whether it could be shredded at the end of the shoe’s life cycle and recycled for
re-use. OESH put Huntsman’s TPU to the test – producing a series of soles using OESH’s unique 3D printing technique, which creates parts
directly from pellets. The soles were then recycled into pellets and put back into the 3D manufacturing process. The next step was to test the new
recycled sole against those made from virgin materials. Results showed that the recycled sole had the same functionality as the original sole – with
no drop-in performance properties.

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Weichai Group Launches the World's First Commercialized Diesel
Engine with a Brake Thermal Efficiency Over 50%
50
Weichai Group, a leader in China's internal combustion engine industry, held a launch ceremony in Jinan, Shandong, China, officially launching the world's first commercialized diesel
engine with a brake thermal efficiency over 50%. At the ceremony, world authoritative testing organization TÜV SÜD, and China’s national internal combustion engine testing
organization China Automotive Technology and Research Center Co., Ltd. both awarded Weichai certificates for brake thermal efficiency of 50.26%. Ling Wen, vice governor of
Shandong Province and academician of the Chinese Academy of Engineering, and Chairman of Shandong Heavy Industry Group and Weichai Group, jointly unveiled the world's first
commercialized diesel engine with a brake thermal efficiency over 50%. Brake thermal efficiency is a measure of the fuel efficiency of internal combustion engines. The higher the
brake thermal efficiency is, the less the fuel consumption will be and the better the energy saving and emission reduction performance will be. Since the world's first diesel engine was
successfully developed in 1897, after a hundred years of transformation and upgrading and new technology application, the brake thermal efficiency of the diesel engine increased from
26% to 46% until now. From the statistics of the development of the brake thermal efficiency of diesel engines in the world, with the increasingly stringent emission regulations, the
improvement of brake thermal efficiency has encountered a big bottleneck. The improvement is becoming more difficult, and the progress is slow. This is a world-recognized technical
problem in the industry. Weichai has been deeply involved in the internal combustion engine industry for more than 70 years, and has deep technical background and accumulated
experience in the manufacturing and development of diesel engines by continuously researching key and core technologies. Weichai has invested 30 billion yuan in R&D over 10 years
and recuited more than 200 doctors, more than 300 global high-end talents and more than 3,000 graduate students. Weichai has achieved a leap-forward development of independent
innovation in the diesel engine industry, and estblished the world’s only R&D and production base with annual manufacturing and sales of more than 1 million units in Weifang, and
promoted breakthroughs in the core technologies of commercial vehicle powertrains, CVT powertrains, and hydraulic powertrains, complementing China's core technical
shortcomings in these three areas and promoting China's diesel engine industry chain to continue to move towards the high end.

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Leonardo (Italy) adds new airport ground operations safety technologies
to portfolio
51
Leonardo’s U.S. subsidiary, Selex ES Inc., developer of en-route navigation, precision approach and landing, and surveillance systems, recently
added airport surface management technologies to their air traffic control solutions. Marketed under the name AeroBOSS, the technologies offer
real-time, collaborative decision-making, flight and ground vehicle tracking, and runway safety systems that allow all surface vehicles to operate
safer and more efficiently. AeroBOSS provides an airport-wide common operating platform enabling command and control of airport operations,
maintenance, and emergency resources. One of the core AeroBOSS solutions is the AeroBOSS Runway Incursion Warning System (RIWS) that
prevents runway accidents by alerting vehicle drivers of hazards before entering the runway area. There are nearly thirty-one hundred airports in
the world with commercial air carrier service, but only a small percentage have runway incursion prevention systems. Selex ES Inc. AeroBOSS
technologies, developed for Air Navigation Service Providers and airports is able to improve airport safety efficiently and cost-effectively. The
addition of AeroBOSS solutions to Leonardo’s portfolio comes as the result of collaboration with U.S.-based INDMEX. The timing is critical, as
the Civil Air Navigation Services Organization and Flight Safety Foundation have expressed concerns regarding the risks of airport runway
incursions as air travel begins to return to normal following the sharp declines due to the COVID-19 pandemic.

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