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Hot Off the Press
CAD/CAM Buyout--Planit Holdings
Acquires Radan Group
Wednesday, June 11, 2003
Planit Holdings plc, an international company specializing in development and distribution of CAD/CAM applications, has acquired the Radan Group, a supplier of CAD/CAM software to the sheetmetal engineering industry.
“The acquisition will allow us to extend our operations in the mechanical-engineering sector,” says Trevor Semadeni, Planit chief executive officer. “The integration of Radan distributors into Planit’s extensive distribution channels in Europe and the Far East also will provide an excellent base for the distribution of the group’s products.”
Radan software includes the 3D sheetmetal design system, which automatically unfolds parts for downstream processing with company offerings such as Radpunch, Radprofile and RadbendCNC.
The financial backing provided through the acquisition “will enable us to fund further research and development and bring new products to market faster,” says Chris Billet, U.S. general manager of sales for Radan.
For more, visit www.radancim.com
Fastems Opens North American Office in Dayton
Wednesday, June 11, 2003
Fastems, a European supplier of factory-automation systems, has opened its North American sales, service and distribution center, Fastems USA, in Dayton, OH. Mark Walker serves as president of the new center, which offers Fastems’ Flexible Manufacturing System (FMS). FMS is used to improve spindle utilization of machining centers and is compatible with a variety of machine tools and machine-tool controls.
Fastems is headquartered in Tampere, Finland.
New Incentives for Equipment Orders in Tax Bill
Tuesday, June 10, 2003
The tax-relief bill just passed by the U.S. Congress contains a new 50-percent expensing allowance for machine tools and other equipment ordered between May, 2003, and December 31, 2004, and placed in service by December 31, 2004, according to the Association for Manufacturing Technology (AMT). This replaces the temporary 30-percent allowance enacted in 2002.
“The 50-percent expensing allowance for all manufacturers will prove a real boost for (tool-and-equipment builders and buyers),” says Albert W. Moore, AMT president. “It will add jobs by enabling America’s manufacturers to more rapidly improve their productivity.”
For more, visit www.amtonline.org