|
 |
Tuesday, February 6, 2007 |
PAS, a supplier of software products and consulting services for the process industries, has sold its Advanced Control & Optimization (APC&O) business to Honeywell International. The transaction includes the linear and non-linear controls and optimization technologies, as well as all related customer contracts and personnel. PAS sees the divestiture as a key component of accelerating growth in its alarm management and asset configuration businesses. Honeywell Process Solutions sees the acquisition enhancing its family of process simulation tools.
11:08:28 AM 
|
|
Here's an interesting concept with some high-powered backers.
MFG.com Inc. is a global online marketplace for the manufacturing community providing a place for manufacturers and contract manufacturers to find each other. Much of the business is around custom machining companies--a highly fragmented market--finding customers who need parts machined or otherwise manufactured. It announced the closing of a round of funding by European Founders Fund (EFF), based in Munich, Germany. Existing investor Bezos Expeditions LLC, led the round of funding. The funds will be utilized for MFG.com's continued global expansion and the creation of innovative new online services for the manufacturing community.
The investors are Jeff Bezos, founder and CEO of Amazon.com, and the Samwers brothers, founders of eBay Germany (alando) and Jamba! (now part of News
Corporation). The Internet companies founded by the Samwers have
achieved combined sales of more than o1 billion.
From the press release:
"The manufacturing industry is one of the largest industries in the world, it is global by nature and highly fragmented," said Oliver Samwer, co-founder of the European Founders Fund. "MFG.com is bringing tremendous efficiency to the manufacturing industry and has garnered the all important critical mass that a marketplace requires to be successful. Our organization knows the marketplace business firsthand and looks forward to contributing our experience and expertise to MFG.com."
MFG.com also announced that for the year ending December 31, 2006, the Company saw a new record in the volume of manufacturing projects sourced through the online marketplace and recorded the highest sales and revenue in company history. Marketplace volume increased by 103 percent and revenue was up 97 percent from 2005.
"The Internet and the manufacturing ecosystem are both global and an online marketplace for the manufacturing industry won't work on a localized basis," said Mitch Free, founder and chief executive officer of MFG.com. "2006 was a fantastic year for us with a lot of focus on creating a global foundation for us to build upon. With our acquisition of SourcingParts.com in Geneva, the establishment of a wholly-owned foreign entity in China, our new offices in Europe and a strategic partnership in India, we are now a significant player in the most important buy and supply markets."
The MFG.com online marketplace, which facilitates billions of dollars in manufacturing transactions annually, supports 10 languages and 12 currencies and has offices in Atlanta, Geneva, Shanghai, Paris and London.
MFG.com instantly and intelligently matches sourcing professionals and engineers with suppliers who have the right expertise and capacity to manufacture parts and tooling on demand in accordance with their engineering drawings and CAD files. MFG.com's on-demand service is consolidating the once-fragmented world of custom manufacturing into an efficient marketplace, enabling products to be sourced and built more easily, quickly, inexpensively, and at higher quality levels.
10:29:55 AM
|
|
© Copyright 2007 Gary Mintchell.
|
|
|
