PHINIA to acquire SEM.

PHINIA, a premium fuel systems, electrical systems and aftermarket solutions provider, agreed to acquire SEM, a provider of advanced natural gas, hydrogen and other alternative fuel ignition systems, for $47m. "SEM's product portfolio complements PHINIA's business by adding over a century of industrial experience and expertise in advanced ignition solutions for on- and off-road commercial and industrial engines. The acquisition aligns with PHINIA’s strategy of exploring alternative, carbon-neutral, and carbon-free fuels, and expanding its presence in the commercial vehicle, industrial, and aftermarket sectors," Brady Ericson, PHINIA President and CEO.