US-based Parker Hannifin Corporation has successfully completed its previously announced agreement to acquire the Olaer Group, headquartered in Deeside, UK.

The Olaer Group is a leading manufacturer of advanced hydraulic accumulator and cooling technologies for energy, mobile and industrial markets. The company has sales of approximately €150 million and 550 employees.

London-listed Heritage Oil has invested £541 million in a number of assets in Nigeria, it has been announced.

The company is buying a 45 per cent stake in OML 30, a producing oil mining lease in Nigeria, from Shell, Total and ENI, as well as a 45 per cent interest in other assets under the OML 30 joint operating agreement.

OML 30, located onshore in the Nigerian delta, includes eight producing fields and associated infrastructure, including a segment of the 850,000 bopd-capacity Trans Forcados pipeline.

Veolia Water has agreed to sell the UK regulated water activities of Veolia Environnement to Rift Acquisitions for a total of £1.2 billion.

Veolia Water is a wholly-owned subsidiary of Paris-based Veolia Environnement, which is currently working to reduce its net debt.

In 2011, the French company announced plans to divest €5 billion of assets before the end of 2013. This divesture marks the first significant step in that programme, bringing the company’s net debt down by around £1.1 billion as a result of the sale.

Rex Tillerson, CEO of the world’s largest oil company ExxonMobil, told a New York audience yesterday that fears about climate change, drilling and energy dependence were exaggerated.

"We have spent our entire existence adapting. We'll adapt," he said in a speech at the Council on Foreign Relations. "It's an engineering problem and there will be an engineering solution."

Tillerson acknowledged that burning fossil fuels contributes to global warming but questioned the ability of climate models to predict its impact.

The French multinational food group Danone has taken control of Centrale Laitière, Morocco’s leading dairy products company.

Danone raised its stake in Centrale Laitière to 67 per cent by acquiring part of SNI's shareholding for a total €550 million.

Centrale Laitière’s products are sold throughout Morocco. The company operates four production sites with around 4,000 employees, and in 2011 reported sales of 6.6 billion dirhams. The company is market leader in three core businesses: milk, fresh dairy products and cheese.

Westport Innovations Inc. has entered into an additional agreement with General Motors for a second advanced technology development program.

Westport and GM are now developing two different combustion, controls and emissions approaches to natural gas engines, with the first cooperative technology project being announced in June 2011.

The new program will optimize advanced natural gas technologies and applications for maximum CO2 reduction and fuel efficiency in light-duty vehicles.

Fibre optics are transforming communication in Africa, and this key supplier is helping to upgrade the system in one of the sparsest countries imaginable.

One of South Africa’s leading bulk material handling specialists is playing its part in making material handling easier, safer and more productive.

Savannah River Remediation (SRR) uses up to the minute technology and the smartest industrial methodology to carry out its taxing contract – to clean up a 60-year legacy of radioactive liquid waste in South Carolina.