As sales of Subsys, which accounts for more than 95% of the company’s revenue, have fallen 80% from their 2015 peak, the company is short on cash and needs “substantial funds” to stay afloat.
SK innovation, a manufacturer of lithium-ion batteries for hybrid electric vehicles, will supply Mercedes-Benz and Hyundai-Kia Motors.
Honeywell’s move follows other companies that have moved corporate offices out of states with elevated costs of living and high taxes.
Exxon, which was sued by investors who alleged the company downplayed risks of global warming, is turning to clean energy as it becomes cheap enough to compete with fossil fuels.
Rockwell Automation and partners launched the Academy of Advanced Manufacturing in 2017. Recently they provided a progress report.
Ammann will take over the Cruise unit, which sold stakes in its business to Honda and Japan’s SoftBank Vision Fund.
Suspects accused of stealing bendable screen technology.