Rockwell Automation To Acquire CUBIC For Undisclosed Terms

RTTNews | vor 1113 Tagen
Rockwell Automation To Acquire CUBIC For Undisclosed Terms

(RTTNews) - Industrial automation firm Rockwell Automation, Inc. (ROK) announced Monday that it has signed a definitive agreement to acquire CUBIC, a company that specializes in modular systems for the construction of electrical panels.

Bronderslev, Denmark-based CUBIC, founded in 1973, serves fast-growing industries, such as renewable energy, data centers, and infrastructure, and is headquartered in.

CUBIC's efficient and flexible modular systems combined with Rockwell's intelligent devices and industry expertise will benefit customers by offering faster time to market, enabling broader plant-wide applications for intelligent motor control, and generating smart data to increase sustainability and productivity.

CUBIC's established partner model will allow Rockwell to build an expanded Partner Network for intelligent motor control offerings in Asia, Europe, and Latin America. Additionally, CUBIC will broaden Rockwell's market access in renewable energy and data center solutions.

At close, CUBIC will report to Rockwell's Power Control Business in the Intelligent Devices operating segment.

CUBIC is expected to report more than $75 million in sales in fiscal year 2022, which ended Sept. 30. The transaction is subject to customary regulatory approval and is expected to close by the end of 2022.

read more
Rockwell Automation Slashes FY24 Outlook - Update

Rockwell Automation Slashes FY24 Outlook - Update

While reporting financial results for the third quarter on Wednesday, Rockwell Automation, Inc. (ROK) slashed its earnings, adjusted earnings and revenue growth guidance for the full-year 2024.
RTTNews | vor 439 Tagen
DAX Rises More Than 1% On Easing US Bank Concerns, U.S.-China Relations

DAX Rises More Than 1% On Easing US Bank Concerns, U.S.-China Relations

German stocks are gaining some notable ground in positive territory on Monday, recovering well from previous session's sharp decline. Easing concerns about the health of the US banking sector, and expectations of improved trade relations between China and the U.S. contribute to the positive mood in the market.
RTTNews | vor 2 Minuten
Yen Falls Amid Japan Political Jitters

Yen Falls Amid Japan Political Jitters

The Japanese yen weakened against other major currencies in the Asian session on Monday, amid renewed concerns about Japan's fiscal crisis.
RTTNews | vor 1Std 35 Minuten
China GDP Growth Softens Less Than Expected

China GDP Growth Softens Less Than Expected

China's economic growth eased less than feared in the third quarter, indicating that the country remains on track to achieve its full year target despite tariff tensions and deepening property market downturn. Gross domestic product expanded 4.8 percent on a yearly basis in the third quarter after rising 5.2 percent a quarter ago, the National Bureau of Statistics reported Monday.
RTTNews | vor 1Std 52 Minuten
Commodity Currencies Rise After China Rate Decision

Commodity Currencies Rise After China Rate Decision

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against other major currencies in the Asian session on Monday, following the People's Bank of China's (PBOC) decision to maintain its interest rate stability.
RTTNews | vor 2Std 2 Minuten
Yen Slides Against Majors

Yen Slides Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Monday.
RTTNews | vor 2Std 56 Minuten