UK CMA blocks merger between Cargotec and Konecranes - planned merger is cancelled
The UK Competition & Markets Authority (“CMA”) has blocked the merger between Cargotec and Konecranes. According to the CMA’s final report issued today, the remedies - which would have removed all overlapping businesses of the two companies and were accepted by the European Commission (“EC”) - would not be effective in addressing the CMA’s concerns and thus the planned merger between Cargotec and Konecranes cannot be completed. The completion of the planned merger would have required approvals from all relevant competition authorities. Thus, Cargotec and Konecranes have decided to cancel the planned merger. Source
John Deere Expands Access to Self-Repair Resources
Beginning in May, Customer Service ADVISOR will be available for customers and independent repair shops to purchase directly from John Deere through JohnDeereStore.com in the US. Customer Service ADVISOR will also continue to be available via John Deere dealers. Enhancements in 2023 will include the ability to remotely download secure software updates to embedded controllers. Source
UK Prime Minister Boris opens JCB’s newest factory in India
With 11 factories in the UK employing more than 7,500 people, JCB first began manufacturing in India in 1979 and is now the country’s leading producer of construction equipment. JCB’s latest factory in India is a £100 million investment plant in Gujarat which will fabricate parts for global production lines. The new factory is located in Vadodara near the port city of Surat on the West Coast of India. Today JCB has six factories in India at locations including Jaipur and Pune. Source