Kentz Corp said no to takeover offers from rival AMEC Plc and Germany-based M+W Group. Kentz Corporation Ltd rejected approaches from AMEC Plc and M+W Group to take over the engineering firm.
Industrials
Australian manufacturing sector facing change
Australian manufacturers underwent change in level of operations. The manufacturing industry was far from dead in the country down under. The face of the Australian manufacturing sector has been deemed not dead, just changing.
Fiat renews cooperation alliance with Brazilian Bank
Fiat announced the renewal of its cooperation agreement with Brazilian bank Itau Unibanco. Fiat (acronym for Fabbrica Italiana Automobili Torino) renewed its commercial cooperation agreement with Itau Unibanco.
Anglo Platinum cuts on expenditures, may lay off workers
Anglo American Platinum Limited reveals cost-effective plans. Anglo American Platinum Limited (AMS), in its goal to regain profitability, plans to cut down employment from its South Africa head office.
US to Japan- Open auto, insurance markets
The United States asked Japan to give foreign companies more access to its auto and insurance markets.
Latest News
Car manufacturers increased production as rise in sales of petrol driven cars in India continue. In India, demand for petrol cars increased after a 25-month hiatus.
NMDC obtains infrastructure contract from Indian PM led council. The National Manufacturing Competitiveness Council, which is led by Indian Prime Minister Manmohan Singh, had awarded the task of creating the infrastructure in the completion of the first ultra mega steel plant in India to NMDC.
The Edwards Group;s purchase price was pegged at GBP1 billion for Atlas Copco. In a report from Sky News, it was revealed that the Edwards Group, which is based out of Sussex, is the subject of a GBP1 billion takeover bid.
Last Wednesday, North and South Korea said through a joint statement that it would reopen the Kaesong industrial zone to attract foreign investors.
North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.
The US government acknowledged the existence of the aviation test site Area 51 after decades of utmost secrecy about the place.
Michael Faber, the CEO of investment firm NextPoint Management Company, was appointed as a member of the board of CPI Aerostructures.
Swedish family-controlled investment company Nordstjernan agreed to sell its subsidiary KMT Group to American Industrial Partners for USD 147.5 million.
Aurora Capital Group agreed to acquire National Technical Systems for a premium USD 23 per share. Los Angeles-based private investment company Aurora Capital Group agreed to acquire National Technical Systems (NTS) for USD 23 per share.
