GLOBAL BUSINESS NOTES dp
Tognum Says No To Fuel Cells …
Sandvik Makes Chinese Crusher Deal …
Amminex Gets Another Emissions Partner …
Germany’s Tognum AG said it has decided to discontinue its fuel cell activities for stationary
power generation. Having examined the
most recent demand forecasts and carried out a thorough risk/reward analysis,
Tognum said it came to the conclusion
that the fuel cell business is unlikely to
become commercially viable in the medium term, given current market conditions and subsidy schemes.
Sandvik AB said it has reached an
agreement to acquire 80% of the equity
interest in Shanghai Jianshe Luqiao Machinery Co. Ltd., (SJL) Shanghai, China.
SJL designs and manufactures crushing
and screening equipment, including consumables and services, for the Chinese
mining and construction industries.
Faurecia, a French supplier of emissions control technologies for heavy-duty
and automotive engine applications, said
it will become “a strategic shareholder”
of Denmark’s Amminex A/S. Amminex
has developed a proprietary ammonia
storage and delivery system to provide
NOx reduction to diesel engines.
Faurecia said it will take a 21.2%
stake in Amminex at the cost of approximately $26 million in cash. Faurecia joins
Navistar as a significant shareholder in
Amminex. Navistar signed a development agreement and took approximately
a 20% stake in Amminex in December
2009. Faurecia has also started a technological cooperation agreement with
Amminex to develop and industrialize the
technology for diesel engines worldwide.
Deere & Co. said it will increase its ca-
pacity to build agricultural tractors in India
by investing approximately $100 million
to build a new factory and also to expand
its current tractor facility in Pune. The
new factory will build small agricultural
tractors to be sold in India and for export
to other countries. A location for the new
factory has not yet been determined.
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