The details at this point are sparse, but the EU has approved €578 million in funding for a power cable that will cross the Bay of Biscay, connecting Spain and France, a distance of some run for 230 miles.

   A report in Spain’s Olive Press said that the power cable to carry renewable energy is needed to ease one of Europe’s worst network bottlenecks. The contract, described as the highest ever, will transmit excess renewable energy between the two countries. The goal is to double current power capacity to 5,000 megawatts.

  “Only a fully interconnected market will improve Europe’s security of supply, ending the dependence of single suppliers, and give consumers more choice,” said Europe Climate Commissioner Miguel Arias Canete, who was cited in the report. In it, he said that the project would “end the isolation of the Iberian Peninsula and boost interconnectivity between the bloc. “Only a fully interconnected market will improve Europe’s security of supply, ending the dependence of single suppliers, and give consumers more choice.”

  The EU hopes the link will stave off dependency on Russian oil, increase renewable energy output and help meet climate goals.

Chase Corporation announced that it has acquired Stewart Superabsorbents (SSA), LLC, an advanced superabsorbent polymer (SAP) formulator and solutions provider, with operations located in Hickory and McLeansville, North Carolina.

  A press release said that for its most recently completed calendar year, SSA and its recently acquired Zappa-Tec business (collectively “Zappa Stewart”) had combined revenue in excess of $24 million. Zappa Stewart’s products include materials for diverse markets that include wire and cable, for which it provides direct application of swellable powder, liquid, or hot melt adhesives for substrates such as non-wovens, yarns, strength members and shielding tapes.

  The business, the release said, was acquired for $71,382,000, net of cash acquired, pending any working capital adjustments and excluding acquisition-related costs. As part of the deal, Chase acquired the business equity and entered into multiyear leases at both locations.  

“This is a highly complementary acquisition for Chase Corporation which leverages our existing channels to industrial markets and allows us to deliver more value to our customers,” said Chase President and CEO Adam P. Chase. “Zappa Stewart’s proven protective materials technology is a great fit with our core strategy and extends our reach into growing medical and consumer applications. Their North Carolina operations will broaden our capabilities, and will add two facilities near the three we already have in the region. The new technologies and additional management talent will enhance our cross-functional operating model, creating logical synergies and value-creation opportunities.”

  Chase Corporation will continue to manufacture and market under the Zappa Stewart brands and locations, with plans to integrate Zappa Stewart into its ERP platform in the coming months to further enhance existing operational, development and engineering expertise.

U.S.-based Banker Wire, reports that it has bought property just two miles from its current location in Mukwonago, Wisconsin, where it will build a new, larger plant.

  A press release said that the company, which manufactures woven and welded wire mesh for architectural and industrial applications, had to take action for its future. “As we’ve grown and evolved, we reached a point where we had to decide whether we should add on to our current facility or build a new one,” said Banker Wire President Dave Stout. “In the end, we decided to push forward into a new facility. My goal is to build the best, most efficient wire mesh manufacturing location in the world.”

  Stout said that the company has gone this route before. In 2009, after acquiring a new building and 20 acres of land, Banker Wire relocated from Muskego to its present location in Mukwonago. In 2012, the company added a 50,000-sq-ft addition that expanded the facility to a total of 152,000 sq ft. The new site, which will be 182,000 sq ft, “will give us the opportunity to gain efficiency and tailor the overall layout in a way that will enhance the work environment for our employees,” he said.

  Banker Wire notes that the company has an extensive history in the greater Milwaukee area. Established by Charles Banker in 1896 as C.I. Banker Wire & Iron Works, the company flourished in Milwaukee as one of many by the mid 1970s, it transitioned from a reselling operation to a manufacturer. Today, it supplies pre-crimped woven or welded wire mesh. The new location will  include a new wire mesh welder that it said “will be the widest wire mesh machine in the United States.”
 
  Banker Wire, which has 135 employees, plans to hire more staff with the addition of the new welder. The new facility is expected to be fully operational by March 2019.