Latest news with #machineTools
Free Malaysia Today
23-06-2025
- Business
- Free Malaysia Today
Western firms giving Russia tools to make weapons, says Zelensky
Ukrainian President Volodymyr Zelensky is strongly urging countries to impose sanctions on companies involved. (AP pic) KYIV : Ukrainian President Volodymyr Zelensky accused Western firms of supplying Russia with 'machine tools' used to make weapons, in remarks made public today. He said companies from Germany, the Czech Republic, South Korea and Japan were among them, as well as one business 'supplying a small number of components from the US'. Ukraine has repeatedly warned its allies have not done enough to sanction Russia or curb its supply chains since it invaded in 2022, saying it has found Western components in drones and missiles sent by Moscow. 'The Russian Federation receives machine tools from some countries – machine tools that they use to manufacture weapons,' Zelensky said. He said most of the companies supplying tools to Russia were from China, but that dozens of Western firms were also culpable. 'We have passed on all this information to all countries, our partners, everyone… We strongly urge everyone to impose sanctions on these companies,' the Ukrainian leader added. The Czech Republic said it was 'completely open' to reviewing Ukraine's evidence but that it could not respond to general allegations. 'I would add that Czechia keeps looking for ways to minimise the bypassing of sanctions,' Czech foreign minister Jan Lipavsky said in a comment to AFP via his spokesman.
Washington Post
06-06-2025
- Business
- Washington Post
Hurco: Fiscal Q2 Earnings Snapshot
INDIANAPOLIS — INDIANAPOLIS — Hurco Cos. (HURC) on Friday reported a loss of $4.1 million in its fiscal second quarter. The Indianapolis-based company said it had a loss of 62 cents per share. The manufacturer of computerized machine tools for the metal cutting industry posted revenue of $40.9 million in the period.
Forbes
02-06-2025
- Business
- Forbes
Japanese Billionaire's Acquisitive Streak Hits Roadblock
Shigenobu Nagamori. This story is part of Forbes' coverage of Japan's Richest 2025. See the full list here. After decades of successful bolt-on acquisitions, Shigenobu Nagamori, founder and chairman of precision-motor giant Nidec, hit a roadblock in his hostile bid for machine-tool maker Makino Milling Machine. ss The ¥257 billion ($1.8 billion) tender offer—unusual in Japan, where such deals are negotiated privately—was set to open in April, but in March, Makino, which had ¥234 billion in revenue in the year through March, said it would mount a 'poison pill' takeover defense if Nidec didn't give it more time to consider potential competing proposals. Nidec asked the Tokyo District Court to halt Makino's plan, but the petition was dismissed and the company withdrew its bid. For Nidec, which posted ¥2.6 trillion in revenue in the year through March, the offer was part of its strategy to turn machine tools, which account for less than 10% of its sales, into a ¥1 trillion business over the next decade. Nagamori's wealth dropped to $2.8 billion on a 27% slide in Nidec shares over the past year.
