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Japan's Nidec to buy MHI's machine tool unit as it bolsters EV motor business


By Reuters Staff
1 Min Read
TOKYO, Feb 5 (Reuters) - Japan’s Nidec Corp said it will acquire a unit of Mitsubishi Heavy Industries that makes machine and cutting tools as it bolsters a push in motors for electric vehicles (EV).
Nidec will buy the business from Japan’s biggest machinery maker for around 30 billion yen ($284 million) in a deal that will help it improve the gearing technology in its EV motors, according to an earlier report in the Nikkei newspaper.
A spokesman for Nidec, which announced the deal on Friday, declined to say how much the deal was worth.
The maker of small precision motors used in computer hard drives and other electronic equipment is attempting to capture around a third of a new market for energy-saving electric motor technology known as e-axle or e-drive, which is expected to grow 10 times over the next decade. ....

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UPDATE 1-German orders fall for the first time in eight months


By Reuters Staff
(Adds details)
BERLIN, Feb 5 (Reuters) - Orders for German-made goods fell more than expected in December, ending a seven-month streak of positive data as restrictions to contain the coronavirus dragged down demand from other euro zone countries.
The figures published by the Federal Statistics Offices showed orders for industrial goods dropped by 1.9% in seasonally adjusted terms, compared with a Reuters forecast for a decline of 1.0%.
The decline came after an upwardly revised increase of 2.7% in November and was the first time the indicator had fallen since April.
“After the party comes the hangover,” Thomas Gitzel, Chief Economist at VP Bank Group, said. ....

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Too hot to handle: Thieves dump band's stolen gear on Waikato farm


Too hot to handle: Thieves dump band s stolen gear on Waikato farm
5 Feb, 2021 04:39 PM
5 minutes to read
The stolen gear where it was dumped behind an unoccupied farmhouse on the outskirts of Hamilton. Photo / Supplied
The stolen gear where it was dumped behind an unoccupied farmhouse on the outskirts of Hamilton. Photo / Supplied
Peter Tiffany is editor of the Waikato Newspeter.tiffany@nzme.co.nz
After a decade of making music, friends and fans, Hamilton band The Monroes came close to calling it quits when their instruments and equipment - all $100,000 worth - was stolen in a brazen burglary two weeks ago. ....

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