Industrial News

United Technologies and Raytheon have agreed to merge, the companies said Sunday afternoon, crafting an all-stock deal that would create a giant evenly balanced between civil aerospace and defense that may be better positioned to handle cost pressures and uncertain prospects in both sectors. The two New England-based industrial stalwarts billed it as a “merger of equals,” but United Technologies investors would control 57% of the company, which will be called Raytheon Technologies, they said in a statement. The combined company would have almost $80 billion in annual sales in 2020, which should push it past Airbus to be the second-largest [...]

FOTON Philippines is managed by United Asia Automotive Group, Inc. (UAAGI), as the exclusive distributor of FOTON vehicles in the country. FOTON offers a wide range of commercial vehicles which includes passenger vehicles, light, medium, and heavy duty trucks, agricultural and heavy machinery. In line with its goal to becoming a full-fledged global brand, FOTON has partnered with world-renowned automotive component brands and corporations the most notable of which are the joint ventures with CUMMINS, USA, for the manufacture and supply of diesel power plants for FOTN’s passenger vehicles and trucks; and with Daimler AG for design and technology. FOTON also has partnerships with [...]

Government incentives pushed to lure e-mobility investors The Philippines has a huge potential for the e-mobility industry. Thus, President Ferdinand “Bongbong” Marcos, Jr., is pushing for government incentives to attract more investors, Malacañang said on Tuesday. “We’re always running into the same problem. It’s the scaling, production design, then the investment. How do we (attract investments)? … ‘Yun ang (That’s the) hardest part of this,” the President said. “We need investors to come in. Of course, we’ll provide incentives from the government. That’s what we need to do. We need incentives for investors to come in. Hopefully local. But we’ll [...]

Globe Telecom has announced on Wednesday, Oct. 23, the appointment of Carl Raymond R. Cruz as its deputy chief executive officer, effective Jan. 1, 2025. In a disclosure to the Philippine Stock Exchange, the Ayala-controlled telecommunications firm said Cruz has also been nominated for a seat on the company’s board of directors, with the election to take place at the 2025 annual stockholders’ meeting. He is expected to assume the roles of president and CEO at the board’s organizational meeting following next year’s stockholders meeting. This development was first reported by Bilyonaryo.com on Tuesday, Oct. 22. Globe said Cruz, 54, brings over [...]

Environment-friendly way to recycle scrap, reuse resources, and dispose waste There eventually comes a time when a car is ready for the scrap heap. That's just the way it goes; sometimes it's not worth it to spend to repair and maintain an old car. The question now is: what should you do with it? For one, don’t just leave it by the side of the road to rot, and definitely don’t stick it in an empty lot for local fauna to swallow up. You’re going to make a lot of motorists (and your neighbors) angry with the former, while the [...]

The global provider of electronics manufacturing services said IMI USA would discontinue its prototyping and manufacturing operations by the end of 2024 as part of the strategic restructuring. - Businessworld / File   MANILA, Philippines — Ayala-led Integrated Micro-Electronics Inc. (IMI) is streamlining its operations through various global restructuring initiatives to boost profitability and operational efficiency. The global provider of electronics manufacturing services said IMI USA would discontinue its prototyping and manufacturing operations by the end of 2024 as part of the strategic restructuring. IMI USA’s production functions will be transitioned to the company’s facilities across North America, Europe and [...]

CLARK AIR BASE, Pampanga (PIA) -- President Ferdinand R. Marcos Jr. reiterated his support to the modernization of assets, and enhancement of defense capabilities of the Armed Forces of the Philippines (AFP). In his speech during the Arrival, Turn-over, and Blessing of the C-295 Medium Lift Aircraft in Clark Air Base, Marcos said the AFP is called to constantly adapt to address challenges and hazards. With this, he lauded the Philippine Air Force (PAF) for its acquisition of three C-295 aircrafts since 2022, which is in line with the commitment of his administration. These augmented the four units that were [...]

KTM AG, the largest European motorcycle manufacturer from Austria that specializes in “Ready to Race” on and off road vehicles, has cut ties with Adventure Cycle Philippines Inc. (ACPI), a member of the Ayala Group. In a social media post last Friday, KTM Philippines said that ACPI will cease operations as KTM and Husqvarna distributor on Sept. 30, as ACPI had “mutually agreed” with KTM AG to pre-terminate the importer agreement after eight years of partnership. Thus effective Oct. 1, Lucky MAPI will take over as the new exclusive distributor of KTM and Husqvarna motorcycles and products in the Philippines. [...]

MANILA Electric Co. (Meralco) has tapped its subsidiary Meralco Industrial Engineering Services Corp. (MIESCOR) to link the P200-billion Terra Solar project to the Luzon grid. MIESCOR signed a contract with Terra Solar Philippines, Inc. (TSPI) to design and construct critical infrastructure that will connect the solar plant to the grid, the company said in a statement on Thursday.   The connection will ensure the delivery of the energy it would generate once the project becomes operational. It involves a 34.5/230/500-kilovolt (kV) main collector substation, two 34.5/230-kV solar photovoltaic satellite collector substations, and two double-circuit 230-kV transmission lines. “The project, formalized [...]

MANILA -- Over 6,000 Filipino students initially will be part of the semiconductors workforce development program funded by the US government in partnership with the Philippine Department of Trade and Industry (DTI), Board of Investments and other local government agencies. This program aims to provide training and education for Filipinos who wish to enter the semiconductor industry, which is one of the priority sectors of the Philippine government. This is part of the International Technology Security and Innovation (ITSI) program, a $500 million fund provided by the US Creating Helpful Incentives to Produce Semiconductors CHIPS and Science Act, which is [...]