STS collapse during delivery
Singapore
STS collapses during delivery
A ship-to-shore (STS) crane being delivered to the new Singaporean port of Tuas Port collapsed on June 15.
The Maritime and Port Authority of Singapore reports there were no injuries and no damage to adjacent port equipment and facilities.
"All of PSA Singapore's current operational berths remain fully accessible, and all port operations and port development works remain unaffected,” the port authority states.
“The incident is under investigation. PSA and the Maritime and Port Authority of Singapore (MPA) will work with relevant authorities regarding the incident."
Dana sells Off Highway business
Indianapolis, IN, United States
Dana sells Off Highway division
Dana Incorporated’s Off Highway business, a provider of drivetrain and propulsion solutions, will be acquired by Allison Transmission Holdings in a deal worth USD2.7 billion.
The Off Highway business of Dana Incorporated operates in more than 25 countries with a staff of 11,000, also specialises in tailored hybrid and electric drive systems.
Allison says the acquisition aligns with its strategic priorities to expand its footprint in emerging markets, enhance core technologies and deliver strong financial results.
David Graziosi, Allison Transmission chair and CEO says the acquisition “marks a transformative milestone in our commitment to empowering our current and future customers with propulsion and drivetrain solutions that improve the way the world works”.
Dana’s chair and CEO, R. Bruce McDonald, adds: ”This agreement represents a strategic opportunity to ensure the ongoing success of the business, while allowing Dana to focus on our core priorities”.
The acquisition is expected to be finalised in Q4 2025, pending regulatory approval