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American technology giant, Apple’s manufacturing partners are joining the company’s drive to become carbon neutral by 2030. The company today announced that 110 of its manufacturing suppliers, including those in India, will be moving to “100 percent renewable energy" for production of Apple’s products. The company said its partners have nearly 8 gigawatts of planned clean energy set to come online by 2030.
A private equity firm, Arcline Investment Management has announced the acquisition of BHGE's Reciprocating Compression division. This division manufactures and services mission-critical compression and engine systems. "We plan to aggressively invest in our long-standing, loyal employee base so that they can support every brand of our equipment operating in the field", commented Arcline. Arcline currently has $1.5 billion of capital under management.
The successful merger of Anvil International and Smith-Cooper International (SCI) has been announced. This merger will place both the companies in a leading position as designer, manufacturer and provider of piping system products. This group has added to its portfolio global brands including AFCON, Anvil, Anvil EPS, AnvilPress Anvil-Strut, Basic-PSA, Beck, Catawissa, Cooplok, Cooplet, FlexHead, FPPI, Gruvlok, J.B. Smith, Merit, Megawatt, North Alabama Pipe, SCI, Sharpe, SPF/Anvil and SprinkFLEX.
USA’s oilfield services firm Weatherford International reported heavy losses in its third quarter earnings. The firm went through a loss of $199 million which is slightly less than a loss of $256 million last year. The revenue of the company also dropped and was $1.44 billion. The CEO of the company commented that this condition was due to the inefficiencies of supply chain and manufacturing.