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MAG Industrial Automation Provides Congressional Testimony on Auto Bail Out
MAG Industrial Automation Systems' (Erlanger, KY) Chief U.S. Technical Officer Richard Curless testified before the House Select Committee on Energy Independence and Global Warming December 9, urging Congress to include incentives or guidelines requiring the Big Three automakers to spend…
NMDC Seeks Karnataka Approval for 5 Million-Ton Steel Plant
NMDC Limited (Hyderabad), India's largest producer and exporter of iron ore, is awaiting approvals from the state of Karnataka to set up a 5 million-ton-per-year steel plant. According to Industrial Info Resources (Sugar Land, TX), the plant is likely to…
As Steel Prices Drop, India Slashes CVA Tax Rate by 4 percent; Outlook Slightly Positive for 2009
As part of a stimulus package of $4.08 billion to boost demand for commodities in the market, India's government recently announced a reduction in central value added tax (CENVAT) by an ad-valorem rate of 4 percent across the board with…
EPA Adds Mitsubishi Laser Consumables to Product Line
MC Machinery Systems, Inc. (Wood Dale, IL), has announced that leading west coast consumables dealer, EDM Performance Accessories (EPA), located in Brea, CA, has expanded its product offering to include Mitsubishi Laser consumable products from CPG, a division of MC…
Siemens to Invest $40 Million in Indian Operations in 2009 Despite Economic Slowdown
Despite the economic slowdown, Siemens Limited (Mumbai), a subsidiary of Siemens AG (Munich, Germany), is moving forward with plans to invest $40 million in India during the next fiscal year. According to Industrial Info Resources (Sugar Land, TX), the firm…
Cat Lift Trucks Receives Environmental Sustainability Recognition
Cat Lift Trucks (Houston, TX) was recently awarded the Environmental Sustainability Achievement Award by Modern Materials Handling, a leading trade publication for the manufacturing and distribution industry. The award was a result of the publication?s first-ever ?Lift Truck Customer Satisfaction…
Macsteel Service Centers USA Expands With New Facility in Portland
Macsteel Service Centers USA (Portland, OR) recently expanded its business operations with the opening of a new 100,000 sq ft service center in Portland, OR. A formal plant opening and ribbon-cutting event is planned for the spring of 2009. The…
General Motors Eyes India Beyond Current Crisis As Strategic Hub For Asia-Pacific Power Train Market
Despite reeling under a cash crisis and grappling with the effects of worldwide economic woes, General Motors Corporation (Detroit, MI) is eyeing India as a strategic hub in the Asia Pacific region to develop power trains. According to reports from…
Heinz-Dieter Schunk Recognized for Lifetime Achievement
Heinz-Dieter Schunk, CEO of SCHUNK Inc., was awarded the German Machine Development Prize on October 14, 2008. During the third German Machine Development Summit in Berlin, the independent jury of experts in business and science recognized his lifetime achievements. Every…
Power Tool Institute Launches Improved Web Site
The Power Tool Institute (PTI, Cleveland, OH) has launched its newly revamped Web site, www.powertoolinstitute.com. The Institute?s new site is a user-friendly resource for power tool safety with simple navigation, online ordering of publications, and easy-to-view videos. The new PTI…
Zamil Steel's Building Manufacturing Facility Starts Operation in India
Zamil Steel Industries (ZSI) (Dammam, Saudi Arabia) has started operation of the company's first facility in India to manufacture pre-engineered buildings, according to report from Industrial Info Resources (Sugar Land, TX). The manufacturing unit required an investment of $32 million…
Union Fenosa's $1.2 Billion Investment to Double Australia's Wind Energy
Union Fenosa SA (Madrid, Spain) will invest $1.2 billion in seven wind farms in Australia. The company signed an agreement with TME Australia (Chatswood, Australia) in July 2008 to acquire an 80 percent stake in TME's wind power projects portfolio…
