Concentric, a machinery industry company, completed the acquisition of Engineered Machined Products, a US producer of electric and mechanical water and oil pumps, electric fans, thermal management systems and precision machined component, for $147m. "This is a landmark transaction, and a step change in Concentric’s electrification strategy as we dramatically increase our capacity, technological know-how and product portfolio to accelerate our growth in electrical products. We are now on track to beat our ambitious target of having 20% of group sales stemming from electrical products by 2025," David Woolley, Concentric CEO.