AEF Opens 4 Engineering Labs in Armenia and Artsakh

Asbarez | February 05, 2019

The Armenian Educational Foundation (AEF) is helping shape Armenia’s future by supporting students studying in technical fields.
AEF’s newest educational program in the burgeoning Information Technology field is its Armath Engineering Laboratories located in village schools in cooperation with Union of Advanced Technology Enterprises (UATE). With the help and generosity of AEF members and donors, Armath Laboratories started working in four village schools, Hadrut, Qajaran #1, Choratan, and Dilijan #4 in January 2019. These new labs were in addition to previously funded Armath Labs in Darbas and Stepanakert #4 schools. Three more labs are planned for 2019, including one in Lorut village school, which will bring the total number of schools which have Armath labs funded by AEF to nine. To date, AEF has committed over $77,000 to fund these nine Armath laboratories.

Spotlight

As the commercial drone industry continues to evolve, widespread BVLOS drone inspection has the potential to significantly change business models for oil and gas, utilities, insurance, and other industries. Representatives we spoke with in those industries point to four main drivers motivating them to explore BVLOS operations.

Spotlight

As the commercial drone industry continues to evolve, widespread BVLOS drone inspection has the potential to significantly change business models for oil and gas, utilities, insurance, and other industries. Representatives we spoke with in those industries point to four main drivers motivating them to explore BVLOS operations.

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ENGINEERING TECH

Yield Engineering Systems Partners with Benchmark for Global Engineering and Manufacturing Support

Benchmark | October 10, 2022

Benchmark Electronics, Inc. (NYSE: BHE), a global provider of engineering, design, and manufacturing services, today announced it is partnering with Yield Engineering Systems (YES) to transfer the manufacturing of the YES flagship product line to its facility in Malaysia, as well as providing engineering and manufacturing support for YES's upcoming innovative modular wet process systems in the Phoenix, Arizona area. "We have developed a strong partnership with Benchmark built on trust and our combined expertise, We look forward to working closely with the team to bring our technology to a wider market, and to further expanding our footprint in the semiconductor capital equipment industry as the need for semiconductor manufacturing support continues to grow worldwide." -Ramakanth Alapati, Chief Executive Officer of YES. YES is at the leading edge of material modification and surface enhancement solutions. The company's patented technologies significantly enhance the speed, reliability, and cost-effectiveness of semiconductor production processes. YES's thermal, deposition, and wet process systems provide critical technology to semiconductor, life science, and display manufacturers large and small as they work to meet the demand for semiconductors, genomics, point of care diagnostics, and innovative displays. Benchmark's Phoenix operation will be leveraging the company's deep expertise in the semiconductor capital equipment market, including mechatronic engineering, precision machining, and sub-system assembly. The partnership comes at a critical time as the CHIPS Act has created a flurry of activity around the semiconductor industry and demand for organizations supporting the industry has risen dramatically. "YES is helping solve critical problems for their customers in the fast-growing semiconductor manufacturing industry, We're proud to be selected as their strategic partner and look forward to working hand-in-hand with their team to help bring their technology to market to meet the demand for semiconductor capital equipment." -Jeff Benck, president and CEO, Benchmark. About Benchmark Electronics, Inc: Benchmark provides comprehensive solutions across the entire product life cycle; leading through its innovative technology and engineering design services; leveraging its optimized global supply chain; and delivering world-class manufacturing services in the following industries: commercial aerospace, defense, advanced computing, next-generation telecommunications, medical, complex industrials, and semiconductor capital equipment. Benchmark's global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE. About Yield Engineering Systems, Inc: Yield Engineering Systems, Inc. (YES) is a preferred provider of high-tech, cost-effective equipment for enhancing surfaces and materials. The company's product lines include thermal processing systems, chemical vapor deposition (CVD) systems, and wet process equipment used for the precise surface modification of semiconductor substrates, semiconductor and MEMS devices, LED displays, and bio-devices. Customers ranging from startups to Fortune 100 companies rely on YES systems to create and volume-produce innovative products in a wide range of markets. YES is headquartered in Fremont, California, with a growing global presence.

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DESIGN, ENGINEERING TECH, CONSTRUCTION

Helios Technologies Signs Definitive Agreement to Acquire Daman Products

Daman Products Company | September 08, 2022

Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, has entered into a definitive agreement to acquire the assets of Daman Products Company “Daman”. Founded in 1976, Daman is headquartered in Mishawaka, Indiana and is a recognized leader in complex manifold design and manufacturing for precision hydraulic manifolds and related fluid conveyance products. Daman products are used in numerous hydraulics applications for industrial and mobile markets including applications in the oil and gas, railroad, construction, agriculture, forestry, mining, material handling, machine tool, robotics, and entertainment industries. Daman is a highly recognized brand with a quality reputation, has leading market share in the standard manifold niche market segment, as well as in custom designed integrated solutions. Sun Hydraulics, a Helios company, and Daman have collaborated for years to create solutions that address customers’ fluid power challenges. “Adding Daman onto our pure play Hydraulics platform is a clear demonstration of the continued progress we are making with our flywheel acquisition strategy. Daman has established, long-term relationships with a diversified customer base serving multiple end markets. They bring a differentiated value proposition through sophisticated inventory programs that reduce supply chain delays and enable rapid delivery. They also leverage a strong engineering team that works closely with customers and distributors to design custom tailored solutions for a breadth of applications as well as standard manifold designs. Daman is a critical supply channel partner that provides a notable combination of high-quality products with value-added engineering, inventory management, rapid prototyping, and assembly services. With over 300 years of combined experience resident in-house, we expect this acquisition to enhance Helios’ technologies through product integration, enabling further system sale opportunities, and diversification of end markets.” -Josef Matosevic, Helios’ President and Chief Executive Officer. About Daman Products: Founded in Mishawaka, IN in 1976, Daman is a leading designer and manufacturer of standard and custom precision hydraulic manifolds and other fluid conveyance products. Daman is centered on a culture of innovation with new technology and new machinery, and recognition of its highly valued employees and customers. Daman's hydraulic manifolds help power industrial and mobile equipment worldwide. Distributors throughout North America trust Daman’s proven technology and innovative design to deliver standard components, while the company has expanded its custom engineering capabilities to become a leading, single-source, full-range manifold supplier. About Helios Technologies: Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, health, and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997.

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ENGINEERING TECH, CONSTRUCTION

Cadmatic Acquires Italian Engineering Software Company CLA

Cadmatic | October 03, 2022

The acquisition is a further step in fulfilling Cadmatic’s strong growth strategy, which sees the company more than tripling its size in coming years. EPC contractors and plant owner-operators use CLA’s software to manage piping materials and piping supports, construction sites, multidisciplinary engineering data, online tenders, project planning and plant welding. CLA was established in 2001 and employs 22 staff at its office in Piacenza, 70 km south of Milan. “CLA is a perfect strategic fit for us. They have impressive references, especially in the key area of multinational EPC companies and our offerings have no overlapping functionalities. By integrating CLA’s materials and construction management products with Cadmatic’s design, engineering, and information management solutions, we can offer integrated and advanced functionality and a one-stop-shop to benefit our customers from design to construction and beyond. In addition to the products and customer base, we also gain access to the extensive material and construction management knowledge they have developed over the years, When we see a clear customer need, we either develop the functionalities, products and services ourselves or look at acquiring it outside the company” -Jukka Rantala CEO Cadmatic. CLA COO and deputy CEO Tagliaretti also sees the acquisition as a win-win situation. “When you combine Cadmatic and CLA, you get something greater than the sum of its parts. Cadmatic has traditionally been strong in plant, marine and building design, CLA have general engineering data management applications. Together we form a comprehensive package. CLA have developed a very strong market position in Italy-based multinational industrial companies, but Cadmatic’s large global network means that the integrated solution can be more successful internationally, we make the perfect team.” -Gian MarioTagliaretti,COO and deputy CEOCLA. Cadmatic’s growth strategy envisages a strong position in the European and Indian process and power industries, in the global marine business, and in the locally growing building industry. CLA is the fourth significant technology-based acquisition for Cadmatic in recent years. According to Rantala, organic growth and a high level of in-house R&D and competence, as well as mergers and acquisitions will assist the company in creating top value for its existing and new customers. Last year, our Process and Industry segment grew by over 30%. We are growing organically, but strategic mergers and acquisitions, such as with CLA, are also a cornerstone of our strategy. We are continuously looking for companies that are good strategic fits for our offering and customers. Rantala says that the acquisition is strategy-driven and the result of Cadmatic listening to its customers, being good partners, and providing customers with the software functionality they request. About Cadmatic: Cadmatic is a leading developer of digital and intelligent 3D design and information management software solutions for the power, process, marine, and construction industries. It empowers engineers to build a brighter future and a better world by making the design, engineering, construction and operation of ships, industrial plants and buildings better, faster and easier. Cadmatic has over 6000 customer organizations in 60 countries.

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