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PMI Index Shows Manufacturing, Economy in Recession

Monthly index crashes to 41.5% in April; overall economy contracts for first time since 2009. The one-two punch of global tariff wars and a global pandemic have wiped out 11 years of economic growth, according to the monthly PMI index from the Institute for Supply Management. The...

Danfoss acquires Eaton’s hydraulics business

Danfoss has entered into an agreement to acquire Eaton’s Hydraulics business for a cash purchase price of 3.3 billion USD (approximately 3.0 billion EUR). The acquisition is fully in line with Danfoss’ strategy to strengthen its core businesses and enhance customer value. “Today, we take a significant and transformational step...
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