ABB has opened a new €20 million injection molding manufacturing site at Evergem, near Ghent in Belgium, to meet the growing demand for safe, smart and sustainable electrification solutions in Europe. The global electrical enclosure market size is projected to grow from $7.42 billion in 2024 to $13.15 billion by 2032 due to increasing demand for new buildings, the modernization of existing buildings with more efficient and reliable electrical systems, and advances in electrical distribution.
News
May 3, 2024
Food prices dipped by 0.5%. Raw materials dropped by 2.4%, while beverages surged 26.5%.
Metal prices jumped by 8.9%, led by tin (+15.8%) and aluminum (+12.6%). Precious metals rose by 8.6%.
May 3, 2024
In 2024 and 2025, overall commodity prices are forecast to decline slightly but remain about 38 percent above pre-pandemic levels. Unlike prices for most other commodities, oil prices are set to increase in 2024, by 2 percent. Gold and copper prices are also set to rise this year, by 8 percent and 5 percent, respectively. In all, disinflationary tailwinds from moderating commodity prices appear essentially over.
April 23, 2024
Bosch inaugurated the second office building of its Engineering Center in Cluj, Romania, following an investment of roughly EUR 21 million implemented over three years. The total investment in the two buildings of the center in Cluj, started in 2017, amounts to over EUR 50 million.
The official opening took place on April 23, in the presence of the company's local management and representatives of local authorities and partners.
April 11, 2024
LG Business Solutions is collaborating with SVT Robotics, a software provider that empowers IT teams to seamlessly integrate, monitor and scale automation to integrate LG’s new CLOi CarryBot autonomous mobile robots into US warehouse environments. By leveraging the SoftBot Platform from SVT Robotics, prebuilt integrations easily enable the LG CLOi CarryBot AMRs to connect to virtually any warehouse management solution. The SoftBot Platform streamlines integration between hardware and software partners including Warehouse Management Systems, Warehouse Execution Systems, Material Control Systems, vertical lifts, packaging automation and more.
April 11, 2024
EU law makers have sealed a deal cementing the most ambitious CO2-reduction targets for trucks and buses globally by 2030. While vehicle targets are part of the puzzle for decarbonising truck and bus transport, it is insufficient to only regulate the supply side without addressing demand roadblocks.
Decarbonising truck and bus transport is a team sport involving many players across the entire transport and logistics ecosystem.
April 8, 2024
Hyundai Motor Group plans to invest $50 billion and hire 80,000 employees in South Korea through 2026. Over half the new Hyundai hires — about 44,000 people — will work on electrification, including “large-scale hiring” to build and operate new electric vehicle plants and SDVs.
The company will focus its investments and hiring on electrification, software-defined vehicles, autonomous driving, robotics and advanced air mobility.