SKF has signed a Memorandum of Understanding (MOU) with Proteus Marine Renewables (PMR) and GE Vernova’s Power Conversion business. The MOU sets out a framework for a potential alliance to supply tidal turbine generation systems (TTGS) to developers of tidal arrays for commercial, multi-megawatt tidal stream projects. An initial focus will be the supply of a minimum 59MW to MeyGen PLC (MeyGen) at its site in Scotland, the largest tidal stream facility in the world. 

Schaeffler is proud to announce that Vehicle Lifetime Solutions CEO Jens Schueler, has been recognized with the prestigious 2024 Hall of Fame Award by the Import Vehicle Community of the Auto Care Association. Schueler received the award during the AAPEX show in Las Vegas

The Power Transmission Distributors Association (PTDA) has named Brian Short the 33rd recipient of its Warren Pike Award for lifetime achievement in the power transmission/motion control (PT/MC) industry. The award was bestowed upon Short during the PTDA 2024 Industry Summit on October 25 in Colorado Springs, CO. 

The Spain-US Chamber of Commerce in Florida is proud to announce that the recipients of the 2024 Ponce de León Awards for "Company of the Year" are Iberdrola and its U.S. subsidiary, Avangrid and the "Executive of the Year" is Alejandro Pardiñas, CEO of ABS, recognizing their exceptional contributions to energy innovation and industrial leadership. 

Croix Gear, a recognized leader in custom-manufactured loose gears, proudly announces the addition of Tom Marino as Sales Representative for the West Region. With nearly 40 years of industry experience and strong relationships across the gear manufacturing sector, Mr. Marino will play a key role in meeting the diverse needs of Croix Gear’s customers in the Western United States.

Siemens has signed an agreement to acquire Altair Engineering Inc., a leading provider of software in the industrial simulation and analysis market. Altair shareholders will receive USD 113 per share, representing an enterprise value of approximately USD 10 billion. The offer price represents a 19 percent premium to Altair's unaffected closing price on October 21, 2024, the last trading day prior to media reports regarding a possible transaction. With this acquisition Siemens strengthens its position as a leading technology company and its leadership in industrial software.

A new website that includes thousands of shaft collars, couplings, and innovative mechanical components which are now available for sale online has been introduced by Stafford Manufacturing Corp. of Wilmington, MA.

Motion Industries, Inc. has signed a definitive purchase agreement to acquire the operating assets of Canadian-based Stoney Creek Hydraulics. The transaction is expected to close at the end of October, subject to customary closing conditions.

Hottinger Brüel & Kjær (HBK) officially launched Advantage Insights empowered by nCode (Advantage Insights), their latest data analysis tool. Advantage Insights offers a powerful, intuitive solution designed to unlock the full potential of engineering data, by speeding up and simplifying the process of handling this data. Some of the key benefits include:

SICK, international provider of sensor-based automation solutions, has received a Platinum medal in the EcoVadis sustainability ranking. This places SICK among the top 1 percent of more than 130,000 companies worldwide that have been evaluated in the past 12 months. EcoVadis is a leading rating provider in the field of CSR (Corporate Social Responsibility) and focusses on transparent and independent review and evaluation of the sustainability management of participating companies.