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LONDON (Jan. 15, 2014) – The need to modernize automation in the mining industry has lent momentum to the power conversion market in Europe and Russia. Market growth is bolstered by the fierce competition among mining companies, rising energy costs and increasing awareness on the benefits of electric drives and motors.

WASHINGTON (Jan. 15, 2014) – The President announced new steps with the private sector to strengthen the manufacturing sector, boost advanced manufacturing, and attract the good paying jobs that a growing middle class requires. The President announced the selection of a North Carolina headquartered consortium of businesses and universities, led by North Carolina State University, to lead a manufacturing innovation institute for next generation power electronics.