Company News

The Timken Company entered into an agreement with United Wagon Company (UWC), a company building, leasing, engineering and servicing freight cars in Russia, to establish a joint venture (JV) to manufacture Timken AP-2 rail bearings in Russia.

Marubeni-Itochu Steel Inc. (MISI) entered into an agreement with Dawood Engineering – a local manufacturer of automotive parts and components in the Islamic Republic of Pakistan – to jointly establish a new company in Bin Qasim Industrial Park outside of Karachi City in Sindh Province, Pakistan.

EOS, the industrial Additive Manufacturing solutions company, expanded its metal materials portfolio with the introduction of EOS Titanium Ti64ELI and EOS StainlessSteel 316L.

Clemens Iller will take over as the CEO of Swiss special steel company SCHMOLZ + BICKENBACH. He will lead the company together with CFO Hans-Jürgen Wiecha, who has been acting as CEO ad interim from December 2013.

Energy production technology services company Proserv has completed the acquisition of major engineering player KRG Industries Ltd.

Seatronics, an Acteon company, promoted Phil Middleton to deputy managing director based in the Aberdeen office.

Sumitomo Corporation has developed and installed the first large-scale power storage system in the world that utilises used batteries collected from electric vehicles.

Deltamarin signed a contract with the Malaysia-based international offshore oilfield services provider, Bumi Armada, for the basic design of a floating production, storage and offloading (FPSO) unit.

Proserv has secured two major contract wins in the Gulf of Mexico worth a combined USD 17M. The deals with Noble Energy and Talos Energy will see Proserv carry out work at the operators’ respective Gunflint and Phoenix Field Expansion developments.  Two deepwater wells will be controlled at Noble Energy’s Gunflint field in the Mississippi Canyon area – around 70mi from the Louisiana coast.

Great Yarmouth-based Sonar Equipment Services will now trade under the name of Subsea Technology & Rentals (STR).