Briggs completes Barloworld Acquisition
According to Briggs, the acquisition positions the company as the largest multi-skilled mobile engineering workforce in the UK.
Briggs will now be responsible for sales and service of both the Hyster and Yale brand of lift trucks in the UK.
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Richard Close, CEO for Briggs Equipment UK, said: "We are excited to have the addition of the Hyster brand which will expand our footprint and product offering in the UK. This strategic growth brings more opportunities for our employees and an enhanced service to our customers, with greater product solutions and quicker response times."
Briggs Equipment UK Ltd, which is owned by Sammons Enterprises Inc. is a subsidiary of Briggs International, which has dealerships of Yale and Hyster products across the southern United States and in Mexico. The Barloworld brand will cease to exist, but business will continue with two sales teams, and all staff will transfer to Briggs apart from the top ten executives.
Ralf Mock MD EMEA NACCO Materials Handling Group added: "The addition of the Hyster brand combined with Briggs' sales, service and materials handling expertise will undoubtedly deliverunrivalled service excellence with award winning products, delivered by passionate industry experts."
Both Hyster Company and Yale Materials Handling Corporation are operating divisions of NACCO Materials Handling Group.
The complete integration of the two firms is expected by the end of 2013.
Elon Musk's Boring Co. planning wider tunnels for freight
Elon Musk’s drilling outfit The Boring Company could be shifting its focus towards subterranean freight and logistics solutions, according to reports.
A Boring Co. pitch deck seen and shared by Bloomberg depicts plans to construct wider tunnels designed to accommodate shipping containers.
Founded by Tesla CEO Musk in 2016, the company initially stated its mission was to offer safer, faster point-to-point transport for people, particularly in cities plagued by traffic congestion. It also planned longer tunnels to ferry passengers between popular destinations across the US.
The Boring Co. completed its first commercial project earlier this year in April. The 1.7m tunnel system is designed to move professionals between convention centres in Las Vegas using Tesla EVs. It says the Las Vegas Convention Centre Loop can cut travel time between venues from 45 minutes to just two.
Boring Co.'s new freight tunnels
The Boring Co.'s new tunnel designs would allow freight to be transported on purpose built platforms, labelled as “battery-powered freight carriers”. The document shows that, though the containers could technically fit within its current 12-foot tunnels, wider tunnels would be more efficient. Designs for a new tunnel, 21 feet in diameter, show that they can comfortably accommodate two containers side-by-side, with a one-foot gap between them.
The Boring Co.’s new drilling machine, dubbed Prufrock, can tunnel at a rate of one mile per week, which is six times faster than its previous machine, and is designed to ‘porpoise’ - mimicking the marine animal by ‘diving’ below ground and reemerging once the tunnel is complete.
Tesla’s supply chain woes
Tesla is facing its own supply chain and logistic issues. The EV manufacturer has raised the price of its vehicles, with CEO Musk confirming the incremental hike was a result of “major supply chain pressure”. Musk replied to a disgruntled Twitter user, confused as to why prices were rising while features were being removed from the cars, saying the “raw materials especially” were a big issue.
Car manufacturing continues to be one of the industries hit hardest by a global shortage in semiconductor chips. While China’s chip manufacturing levels hit an all-time high in May, and the US is proposing a 25% tax credit for chip manufacturers, demand still outstrips supply. Automakers including Volkswagen and Audi have again said they expect reduced vehicle output in the next quarter due to a lack of semiconductors, with more factory downtime likely.
Top Image credit: The Boring Company / @boringcompany