An Accenture study suggests that by 2030, Italian companies could boost their added value by about €50 billion ($54.30 billion) through the widespread use of generative AI. This was presented at a meeting of the Leonardo Committee, a group promoting the "Made in Italy" brand, unrelated to the Leonardo defense and aerospace group. An additional €30 billion ($32.47 billion) in added value could be…
From May 18-25 2024, Missouri Governor Mike Parson and First Lady Teresa Parson will travel to Italy for an international Trade Mission.According to a release from Parson, Italy is a top source of foreign direct investment and a key trade partner for Missouri, with more than $169M in exports in 2023.Consistent with Gov. Parson’s infrastructure and economic development priorities, the goal of the…
New York's Governor Kathy Hochul announced that manufacturing company IMA Life North America will build a $30 million, 80,000-square-foot facility in Tonawanda to increase its production of freeze-drying equipment for the pharmaceutical industry. IMA Life's equipment is shipped all over the world and its customers include pharmaceutical giants such as Pfizer and Moderna.IMA Life North America is…
In 2024, the United States government continues to offer incentives to encourage businesses to invest in new machinery. These incentives aim to boost manufacturing competitiveness, create jobs, and support domestic manufacturing and clean energy production. Here are some notable ones:Qualifying Advanced Energy Project Investment Tax Credit (the 48C Credit):This credit applies to facilities…
Biesse is thrilled to announce the upcoming launch of its new Ontario Tech Center, set to be ready in July! To accommodate the rapid growth in the Americas region, Biesse is making significant investments in Canada, and Vaughan, Ontario, has been chosen as the location for their cutting-edge facility. Centrally situated in the GTA and just minutes away from the Toronto Airport, it…
From 2021 to 2023, Italy maintained a notable presence in Canada's import market across various machinery sectors. The aggregate value of imports from Italy witnessed a substantial increase, reflecting a growth trend in the demand for Italian machinery in Canada. Italy ranked fifth among Canada's machinery import partners, with a notable 19.7% increase in import value from 2022 to 2023.…
The Italian company Pirelli inaugurated its Training and Education Center at the plant located in Puerto Interior, in Silao, Guanajuato, marking a new milestone in the company's history in Mexico. The main objective of this center is to train and specialize local talent in key areas for the industry.Additionally, the Italian company celebrated the production of 50 million tires at its Puerto…
In 2022, Mexico solidified its position as the seventh-largest importer of Italian machinery for plastics and rubber, reaching 141 million euros. Projections for 2023 indicate continuous growth, as in just the first half of the year, this figure reached 95 million euros. During the recent Plastimagen, held from November 7 to 10, Italy stood out as the second country with the highest…
EuroGroup Laminations, an Italian group engaged in the design, production, and distribution of stators and rotors for electric motors and generators, inaugurated a new production plant in Querétaro with an investment of 50 million euros. This location serves as the headquarters for the subsidiary Eurotranciatura, which, in the first months of 2023, experienced a 33% growth, generating revenues of…
Flame Spray North America, a thermal spray coatings manufacturer, today announced it is expanding its operations in Laurens County South Carolina. The company’s $2.5 million investment will create 40 new jobs.Part of Flame Spray S.p.A., Flame Spray North America offers a complete portfolio of thermal spray coating and heat treatment services. The company’s only North American facility, located at…