FuelCell Energy (Danbury, Conn.): Anthony Rauseo has been appointed to the newly created position of COO and will be responsible for integrating the manufacturing operations with the supply chain, product development and quality. He will report directly to CEO R. Daniel Brdar.
Rauseo was previously FuelCell Energy’s V.P. of of engineering and chief engineer and has served at executive posts with CiDRA Corp. and Pratt and Whitney. He holds a B.S. in mechanical engineering from Rutgers University and a M.S. in mechanical engineering from Rensselaer Polytechnic Institute. FuelCell Energy Inc. is a manufacturer of high-efficiency power plants using renewable and other fuels for commercial, industrial, government and utility customers.
Archive for July, 2010
FuelCell Energy promotes Rauseo to COO
GE Lighting and Rambus Sign License Agreement to Create Flat-Panel LED Lighting Systems
GE Lighting, Cleveland, and and Rambus Inc., Los Altos, Calif., (Nasdaq: RMBS), a publicly owned manufacturer of LED products for a variety of markets, have signed a licensing agreement for the use of Rambus’ patented lighting innovations to create a flat-panel LED lighting system for architectural and commercial lighting.
In a press release announcing the agreement, Michael Petras Jr., president and CEO of GE Lighting, said, “One of our objectives as a lighting innovator is to quickly launch leading-edge products that can accelerate the adoption of quality LED lighting solutions around the world in commercial and residential settings. We want to provide customers with more unique LED innovations, and this agreement helps us get there faster.”
Jeff Parker, senior V.P. and president of Lighting and Display Technology at Rambus, added,, “As an acknowledged leader in solutions for a full range of lighting products, GE is an excellent fit with Rambus. Working together, we will create a new generation of advanced LED-based lighting products with unique form factors that are cost-competitive and energy efficient.”
Rambus launched its Lighting and Display Technology business in 2009, taking advantage of a technology-licensing platform that the company has developed over the past 20 years. During that time, Rambus has licensed its patented inventions to industry-leading electronics companies for computers, HDTVs and gaming systems. The company had 2009 revenues of $ 113 million. Details
Siemens buys into offshore wind
Siemens announced that it will pay approximately DKK 860 million (~$145 million) for a 49 percent stake in A2SEA A/S, Fredericia, Denmark, a firm that specializes in the construction of offshore wind farms. The Danish energy company DONG Energy will continue to be the company’s main shareholder.
“Together with Siemens, A2SEA can build optimized vessels for the installation of offshore wind turbines,” said Wolfgang Dehen, CEO of the Siemens Energy Sector. “The optimization of ships and processes will result in higher efficiency, shorter installation times and enhanced customer value.”
Siemens has major supply contracts with DONG Energy for offshore wind turbines. Last month the companies signed an agreement for the 400 MW Anholt Offshore Wind Farm off the coast of Denmark.
United Copper Industries Names New President
United Copper Industries, Inc. (UCI) (Denton, Texas): Thomas (Andy) Blanchard is now president and CEO and will be responsible for overseeing and directing all operations for the company. He comes to UCI from RevWires LLC, a manufacturer of cored welding wire and has served in top leadership positions within the metals, welding and tire industries over the past 25 years. Previous to his position with RevWire, Blanchard served as president of the Processed Metals Group of Gibraltar Industries. He received a B.S degree in engineering from the U.S. Military Academy at West Point; an M.S. in systems management from the University of Southern California and a M.B.A. from Michigan State University.
ABB declines to match Emerson bid for Chloride
Swiss technology giant ABB Group said it won’t match a rival bid from Rutherfurd Acquisitions Limited, a subsidiary of Emerson Electric Co., for U.K.-based Chloride Group plc. The move clears the way for Emerson to substantially increase its presence in the market for unterruptible power supply (UPS) systems and related products and services.
Pittsburgh-based Emerson topped a $1.25 billion bid from ABB with a cash offer worth approximately $1.49 billion (£997 million). An offer of £723 million from Emerson in late April was rejected by Chloride Group’s board as significantly undervaluing the company and launched a bidding war that boosted the final deal by almost 38 percent over Emerson’s initial offer.
“While we still see considerable value in the combination of ABB and Chloride and have a high regard for the Chloride management team, we must take a disciplined approach when assessing potential acquisitions,” said Joe Hogan, ABB’s CEO.
The fit of Chloride Group’s UPS operations with one of Emerson’s core businesses appears to have made it worth the premium price, according to Emerson.
“The merits of the deal for both companies are compelling,” said David Farr, chairman, CEO and president of Emerson, in a release. “The UPS market has become a place where specialist industry knowledge, geographic access and global scale are more important than ever before. The geographic reach and offerings of Emerson and Chloride are highly complementary and highlight the strategic importance of the transaction. In addition, the combination with Chloride is expected to deliver significant annual cost savings of at least £33 million through purchasing and manufacturing efficiencies, staff and facility reductions, and the elimination of other business cost structure duplications including overhead reductions.”
WESCO buys Alaskan distributor
WESCO International, Inc., Pittsburgh,-has acquired the business of Potelcom Supply, Inc. headquartered in Anchorage, Alaska. Potelcom is a single-branch distributor with annual sales of approximately $25 million operating primarily in the utility, industrial and government markets in Alaska.
“This acquisition strengthens and expands our utility, industrial and government market positions in Alaska, as well as broadens our supplier lines,” said Stephen Van Oss, WESCO’s senior VP and COO. “Combining Potelcom’s cabling expertise with WESCO’s industrial MRO and construction expertise and data communication product offerings provides a complete solution for our customers in Alaska. The Potelcom organization is well regarded in the Alaskan marketplace and we are pleased to welcome them as part of WESCO.”