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Intel and Tower Semiconductor forge new partnership after failed acquisition
Tower Semiconductor will invest up to $300 million to acquire equipment and other assets that will be stationed within Intel's manufacturing facility in New Mexico, USA, operated by Intel Foundry Services.Read more
Saudi Wealth fund forges $3.3 billion steel giant in Saudi Basic Industries' Deal
The Public Investment Fund (PIF) will take ownership of Saudi Iron & Steel Company from Sabic, while, in a separate transaction, Sabic's steel arm, Hadeed, will secure AlRajhi Steel Industries in exchange for equity, as per an official statement.Read more
Actalent, CMTI forge partnership to advance smart manufacturing
Actalent and CMTI will also embark on joint research endeavours encompassing a diverse array of focus areas.Read more
India's chip-making prospects unfazed as AMD and Vedanta Forge Ahead
It was revealed that the first phase of Vedanta's chip-making project would be completed within two-and-a-half years.Read more
Goldstone Technologies, Quantron AG to forge a joint venture to build digital platforms
Goldstone Technologies Limited (GTL) and e-mobility major Quantron based in Germany are to set up a joint venture (JV) in Augsburg, Germany and Hyderabad to build digital platforms offering sustainability services.Read more
RINL aims to manufacture 55,000 forged wheels, sets up a new factory in UP
Rashtriya Ispat Nigam also known as Vizag Steel, aims to produce 55,000 wheels this fiscal year. With the capacity to produce one lakh forged wheels annually, the company also sets up a factory in Lalganj, Uttar Pradesh to manufacture forged wheels. Read more
Ramakrishna Forging with Titagarh Wagons remains lowest bidder for manufacturing 80,000 forged wheels
In a tender issued by Indian Railways in September 2022 for the production of 80,000 forged wheels every year for 20 years, Ramkrishna Forging Consortium with Titagarh Wagons Limited remains the lowest bidder with quoted Rs 12,226 crore. The company anticipates a business volume of over Rs 15,000 crore with the new production facility. Read more
PM Modi inaugurates Asia’s largest aero show - Aero India 2023 at Bengaluru
Aero India 2023, five days event spanning from Febuary 13 to 17, is going to witness participation from 98 countries with 32 Defence Ministers and 73 CEOs of global and Indian OEMs showcasing their aerospace and defence capabilities.Read more
Budget 2023: Revving up manufacturing with duty revisions and capex boost
By allocating Rs 10 lakh crores for capital expenditure (which would be 3.3 per cent of GDP) and making minor changes in the basic custom duties, cesses and surcharges on some components, the budget aims to provide more opportunities for local manufacturing.Read more
Bharat Forge arm JS Auto buys Indo Shell Mould’s Erode unit
The SEZ Unit, with a capacity of 42,000 MTPA, supplies fully machined critical castings to marquee customers in the automotive industry and will operate as the third manufacturing unit of JS Auto.Read more