ABB recently announced it has signed an agreement to purchase Siemens’ low voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-regarded product portfolio, a longstanding North American customer base, and an experienced operations, sales, and management team. The business employs around 600 people and generated revenues of approximately $63 million in 2021. Financial terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2023.

Voith has acquired Argo-Hytos. Based in Baar, Switzerland, the company develops and produces components for hydraulics and system solutions with a focus on the off-highway sector (agricultural tractors, construction equipment and material handling vehicles). A corresponding agreement was signed on June 6, 2022.

Bosch Rexroth will join offshore and marine technology experts to showcase the company’s latest innovations at OTC 2022 on May 2-5 in Houston. Located at Booth #2306, Rexroth and Hägglunds displays will show a range of products and solutions that support the offshore technology sector.