Ericsson (Sweden) recently announced that it has agreed to sell its Energy Systems business to Emerson Electric Co. (St. Louis, MO). Under terms of the transaction, which is expected to close in the second quarter 2000, Emerson will pay approximately $725.0 million in cash.According to Ericsson, the Energy Systems business, which is headquartered in Stockholm, […]
Power-One Inc. (Camarillo, CA) recently announced that William (Bill) Yeates has joined the company as president and chief operating officer. According to the company, Yeates will have responsibility for all day-to-day operations of Power-One's three divisions.Prior to joining Power-One, Yeates was vice-president and general manager of Lucent Technologies' Titania Power Division (Austin, TX). Mr. Yeates' […]
Ballard Power Systems (Vancouver) recently announced that its subsidiary, Ballard Generation Systems (Burnaby, BC), signed an agreement with Tokyo Gas, EBARA Ballard and EBARA Corp. (Japan) to develop a fuel cell processor for a one-kilowatt natural gas-fuelled fuel cell power generator targeted at the Japanese residential market.According to Ballard, the agreement involves collaboration in the […]
Spire Corp. (Bedford, MA) recently announced that it has completed the sale of substantially all the assets of Spire's optoelectronics business segment for $12,950,000 in cash to Methode Massachusetts LLC, a wholly-owned subsidiary of Methode Electronics Inc. (Chicago)."With the transfer of its optoelectronics business to Methode, Spire has strengthened its financial ability to better pursue […]
Swichtec Power Systems Ltd. (New Zealand) recently announced it will undergo a name change that will take effect February 14, 2000. The company will be called Invensys Energy Systems (NZ) Ltd.According to the company, the name change reflects the new ownership of the company. In 1998 Swichtec Power Systems was purchased by BTR plc, which […]
Applied Power Inc. (Milwaukee) recently announced a quarterly dividend of $0.015 per share on the company's common stock.The dividend is payable on February 29, 2000 to shareholders of record on February 9, 2000.
SatCon Technology Corp. (Cambridge, MA) recently announced that it has established a new operating division, the Advanced Fuel Cell Power Products Division, formerly HyComp (Marlborough, MA).SatCon builds power converter modules for use in residential fuel cell power generation systems. The company claims the modules can also be sized for commercial applications including small businesses, factories, […]
NEC Corp. (Tokyo) recently announced it would sell NEC Moli Energy Ltd. (Canada), the production center for its cylindrical batteries, to E-One Energy Technology Corp. (Taiwan).NEC, which currently has a 66.08 percent stake in the Canadian unit, will sell to E-One after buying out the stakes held by Mitsui & Co. Ltd. and Yuasa Corp. […]
Valence Technology Inc. (Henderson, NV) recently announced the promotion of Dr. George W. Adamson to vice president of research and development. According to Valence, Dr. Adamson succeeds Dr. Joseph Lundquist who is retiring. Dr. Adamson holds a Ph.D. in physical chemistry from MIT and was formerly vice president of process engineering and development for Valence."While […]
Ultra-Force Battery Co. (UFBC), a subsidiary of BAT International (San Diego), recently completed a new battery manufacturing plant in Hyderabad, India. The new plant has 2 million amp hours of production capacity to manufacture fiber nickel electrode batteries.The company also announced that UFBC has formed Ultra-Force Battery Ltd. (UFBL), which is a joint venture with […]
SatCon Technology Corp. (Cambridge, MA) recently announced that it has retained Thomson Financial Investor Relations as its investor relations counsel."We are excited to announce our engagement of Thomson Financial Investor Relations as we seek to embark on a more pro-active dialogue with the investment community," said David Eisenhaure, president, chairman and CEO of SatCon. "We […]
Ultralife Batteries Inc. (Newark, NY) recently announced the dismissal of a civil action that had claimed Ultralife interfered with plaintiff's opportunity to purchase Dowty Battery Division of TI Group PLC, now Ultralife Batteries' UK subsidiary. According to the company, a jury trial was conducted after which the jury returned a verdict in favor of Ultralife […]
Invensys (London) announced its first set of interim results since being formed in February 1999. The company reported sales of 3.4 billion pounds, up 6.6 percent. Operating profits were up 6.4 percent to 516 million pounds and order intake was up eight percent to 3.6 billion pounds."Our first half year progressed well as we grew […]
Condor Inc. (Oxnard, CA) recently introduced the GLC65 and GLM65 Series power supplies available in seven different single-output configurations with 65W requirements....
American Electric Power (AEP, Columbus, OH) and Central and South West Corp. (CSW, Dallas) recently announced they have mutually agreed to amend the agreement for the pending merger of the two companies to extend its term. According to the companies, this will allow additional time to satisfy the closing conditions contained in the agreement.The amendment […]