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UCIMU: Italian Machine Tool Industry Records € 7.56B Production in 2023, Eyes Stability in 2024

talian manufacturing industry of machine tools, robots, and automation systems has achieved a new production record in 2023, extending the favorable trend that should also be confirmed in 2024. This is, in short, what was outlined by Barbara Colombo, President, UCIMU-SISTEMI PER PRODURRE, the Italian machine tools, robots, and automation systems manufacturers’ association, during the usual year-end press conference.

VDW’s GrindingHub 2024 Showcases AI-Driven Quality Enhancement

VDW (German Machine Tool Builders’ Association) is organizing the GrindingHub trade fair in Stuttgart from May 14-17, 2024. In industrial grinding processes, the challenges are even more complex than the delicate touch required in hand sanding.

ELGi Showcases Innovation in Compressed Air Solutions on Technology Day 2023

Elgi Equipments Ltd, one of the world’s leading air compressor manufacturers, marked another milestone in advancing technology and innovation at the 6th edition of Technology Day 2023 in Coimbatore.

Mitsubishi Electric Invests US$ 26.4M in New Plant for Advanced Factory Automation

Mitsubishi Electric Corporation opened its manufacturing facility for advanced factory automation (FA) systems in the Talegaon Industrial area, Maharashtra, India, in December 2023.

Materialise Presents 3D Printing Trends for 2024

Materialise NV, a key player in the additive manufacturing industry, unveiled in a recent announcement the anticipated 3D printing trends for the upcoming year, 2024.

Indian Companies Opt for AI & ML, Eyeing 85 Percent Growth

A recent report has revealed that over 63 percent of Indian enterprises will invest on Artificial Intelligence (AI) and Machine Learning (ML) to automate business in 2024, representing an increase of 85 percent in AI investments as compared to the year 2023.

Beckhoff Vision Awarded Two Product Design Prizes

The Vision hardware portfolio receives the Red Dot Award and the iF Design Award Gold.

CHARTING A GROWTH MAP

At the 77th Annual General Meeting (AGM) of Indian Machine Tool Manufacturers’ Association (IMTMA), President Ravi Raghavan set an optimistic tone for the year ahead by highlighting factors favoring India as we aspire to be a US$5 trillion economy and disclosing the positive order book position for machine tools.

Siemens Soars in Q4 FY: 25 Percent Revenue Surge, 36 Percent PAT Increase

Siemens Ltd, a premier technology company, registered a revenue of INR 5,297 crore, a 25 percent increase over the same quarter in the previous year, for the fourth quarter of Financial Year 2023 ended September 30, 2023.

ABB Launches SmartMaster, Transforming Instrumentation Condition Monitoring

ABB Ltd, a technology leader in electrification and automation, has launched ABB Ability™ SmartMaster, a comprehensive asset performance management platform for verification and condition monitoring of instrumentation and field devices in the water, wastewater, chemical, oil & gas, and other industries in India.

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