Nestlé USA to acquire Sweet Earth
Amazon.in opens its largest Fulfilment Centre in India
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
UNITED TECHNOLOGIES TO ACQUIRE ROCKWELL COLLINS FOR US$ 30 BILLION
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
Orbis Hotel expands in Europe with 8 hotel openings
04 - 09 SEPTEMBER 2017
United Technologies Corp., and Rockwell Collins, Inc. ("Rockwell Collins") announced that they have reached a definitive agreement under which United Technologies will acquire Rockwell Collins for $140.00 per share, in cash and UTC stock.
Rockwell Collins is a leader in aviation and high-integrity solutions for commercial and military customers and is globally recognized for its leading-edge avionics, flight controls, aircraft interior and data connectivity solutions. On a 2017 pro forma basis, its estimated sales are greater than $8 billion.
"This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems," said UTC Chairman and Chief Executive Officer Greg Hayes. "Together, Rockwell Collins and UTC Aerospace Systems will enhance customer value in a rapidly evolving aerospace industry by making aircraft more intelligent and more connected."
"The integrated companies' expertise in developing electrical, mechanical and software solutions will allow us to deliver more innovative products and services and provide greater value to our customers and shareowners," Hayes continued. "This combination will also create new opportunities for the talented employees of both companies to advance innovation in a growing and dynamic industry. Importantly, UTC and Rockwell Collins share cultures of mutual trust and respect, accountability and teamwork that will allow us to work together to achieve our common goals."
"We are extremely pleased to announce this compelling transaction with UTC which is a testament to the value we have created for Rockwell Collins' employees, customers and shareowners," said Kelly Ortberg, Chairman, President and Chief Executive Officer of Rockwell Collins. "The combination will enable us to compete more effectively for future business through continued investments in innovation, world-class integrated product offerings and the ability to retain the top talent in the industry. Read more...
United Technologies to acquire Rockwell Collins for $30 Billion
Airlines and Airports will invest $33 billion in IT this year: SITA Report
Airlines and airports are estimated to spend nearly US$33 billion on IT this year, according to the SITA 2017 Air Transport IT Trends Insights. And they are focusing their technology investments on similar priorities. Top of the agenda for CIOs at both airlines and airports, are investments in cyber security and cloud services. In addition, they are prioritizing investments in passenger self-service.
SITA’s research of the world’s airlines and airports shows that IT spend remains strong. Airlines’ spend as a percentage of revenue will rise to an estimated 3.30% or US$24.3 billion1 in 2017. For airports, the rise is to an expected 5.05% for this year or US$8.43 billion. Looking ahead to 2018 over 70% of airlines and 88% of airports are expecting IT spend to increase or remain at the same levels as today.
As IT spend increases, both airlines and airports agree that the number one priority for their investments is cyber security. Nearly all of them – 95% of airlines and 96% of airports – plan to invest in major programs or R&D on cyber security initiatives over the next three years. This shows alignment across the industry on the importance of investing in this area.
Ilya Gutlin, President, Air Travel Solutions, SITA, said: “The air transport industry is going through digital transformation and focusing its attention on protecting the business and passengers; making it more efficient; and improving the passenger experience. Cyber-attacks are a very real threat in the highly interwoven air transport industry so building solid defenses is essential. Cloud services provide important efficiencies which play a key role in keeping costs down. Investments in self-service improve passenger satisfaction as they welcome the independence and efficiencies it delivers.”
Gutlin continued: “When it comes to IT investment, airports and airlines are aligned to provide better, more secure service to customers. Read more...
Eurasian Resources Group, a leading diversified natural resources producer, and its wholly-owned Brazilian subsidiary Bahia Mineração (“BAMIN”), announced that BAMIN has signed a memorandum of understanding (“MoU”) with the State of Bahia and a consortium of Chinese companies to develop a $2.4bn integrated mining and logistics project in Brazil. The project includes BAMIN’s Pedra de Ferro iron ore mine, the Porto Sul deep-water port and the associated FIOL railway. The MoU signing took place during a bilateral meeting of Brazilian and Chinese businesses and government officials in the presence of the President of the People’s Republic of China, Xi Jinping, and the President of the Federative Republic of Brazil, Michel Temer.
The Chinese consortium is comprised of leading infrastructure and machinery companies and includes China Railway Group, China Communications Construction Company and Dalian Huarui Heavy Industry Group. The MoU sets out the intention of the consortium to participate jointly with BAMIN in the ownership and development of the integrated mine, rail and port project and to arrange its financing.
The MoU further sets out the State of Bahia’s intention to support the development of the project by enabling the use of Porto Sul for the handling of agricultural and other products, and by promoting tax benefits for Porto Sul and the FIOL railway. Read more...
Bahia Mineração to build $2.4bn mining and logistics project in Brazil
World Bank Support Emphasizes Savings, Inclusion, and Reform on Road to Sustainable Growth in Turkey
A new World Bank loan is helping promote sustainable and inclusive growth in Turkey by focusing on increasing domestic savings, enhancing economic participation among vulnerable groups, and addressing structural bottlenecks through policy reform.
The €350.9 Million ($400 Million) Inclusion and Growth Development Policy Financing (RIG-DPF) program supports nine priority actions - structured around three pillars - and is grounded in both Turkey’s development program outlined in the Tenth Development Plan and the newly-approved World Bank Group Country Partnership Framework (CPF) for 2018-2021.
Specifically, the policies, strategies, and reform actions supported under the program center on three strategic outcomes:
The first pillar aims to increase domestic savings to help address external imbalances and reduce fiscal risks. Amendments to the Private Pension Savings and Investments Law introducing auto-enrollment will increase private savings and eventually reduce dependence on external financing. This pillar also aims to enhance fiscal discipline by including financial statements in the audit reports of all general budget institutions, thus promoting transparency of fiscal accounts and reducing fiscal risks.
The second pillar aims to support participation of women, youth, long-term unemployed, and Syrians under temporary protection in the labor market, by supporting flexible employment, increasing access to childcare and granting work permits to “foreigners under temporary protection”. Read more...
Cellnex Telecom has closed the acquisition of Dutch telecoms infrastructure operator Alticom from Infracapital. The acquisition, which includes 30 towers and long-range sites throughout the Netherlands, for a total value of € 133 million will contribute an expected € 11.5 million in EBITDA in 2018.
The incorporation of Alticom strengthens and consolidates Cellnex Telecom’s leading position among independent telecommunications infrastructure operators in the Netherlands. Alticom’s long-range site network (tall towers with large equipment capacity) hosts wireless voice, data and audiovisual content transmission equipment and complements the network of 758 urban and rural sites that Cellnex Netherlands already manages.
The characteristics of Alticom’s sites are a key element to the future roll-out of 5G. They have the capacity – and connectivity to the fibre optic backbone – to host remote or ‘caching’ servers to bring data processing and storage capacity to the end users of 5G-based applications which is essential for meeting the exponentially increasing demand and requirements of an increasing number of people and connected objects: 50 billion by 2020.
5G will represent an explosion in terms of connectivity, with a 600% surge in mobile data traffic over the next five years (heavily based on downloads of audiovisual content); speeds of up to 1,000 times higher than 3G; and a latency / response time of up to 1 millisecond (100 times lower than 4G). Read more...
Cellnex Telecom acquires Alticom
ADB to Develop Solar Power in Samoa
The Asian Development Bank’s (ADB) Board of Directors has approved the disbursement of a loan of up to $2 million to develop solar energy capabilities and coverage in Samoa.
The ADB-administered Canadian Climate Fund for the Private Sector in Asia will provide an additional $1 million concessional loan and also a preparatory technical assistance grant to help overcome some of the early stage barriers to solar power development in the country. Under the financing package, Jarcon Pty Limited and Sun Pacific Energy Limited (SPEL) will expand a 2.2-megawatt (MW) solar farm in Samoa that is in partial operation.
The project will install up to 4 MW of solar power generation, owned and operated by SPEL, an independent power producer (IPP), who sells power to Samoa’s state-owned utility Electric Power Corporation. The project is expected to help the country lower its dependence on fossil fuels by generating an estimated 5.5 gigawatt-hours of solar power annually for 20 years, with estimated carbon emission reduction of 1,644 tons of carbon dioxide equivalent and save an estimated 1.7 million liters of diesel per year. This will help achieve the government’s goal of inclusive, sustainable, and environment-friendly growth.
The project is PSOD’s first energy deal in the Pacific and the first ADB investment supporting an IPP in the region. Concessional financing was needed to help the project reach financial close. “We hope this deal will demonstrate to private sector investors that developing bankable renewable energy projects in the Pacific can be achieved,” added Martina Tonizzo, ADB’s Investment Specialist. Read more...
AfDB approves $55 million loan for three Solar PV Projects in Egypt
The Board of Directors of the African Development Bank (AfDB) Group has approved three senior loans for a total amount of US$ 55 million to finance three solar PV Projects under the second Round of the Feed-in-Tariff (FiT) Program in Egypt.
Alcazar Energy Egypt Solar 1 (Alcazar I), Delta for Renewable Energy (Delta) and Shapoorji Pallonji Energy Egypt (SP), are the three Independent Power Producers benefiting from the loans for a tenor of eighteen years. Alcazar I and Delta will be extended a loan of US$ 18 million each. The US$ 19 million loan to SPEE also includes a US$7-million concessional financing from the Global Environment Fund (GEF).
The GEF financing is mobilized within the framework of the "AfDB-PPP Public-Private Partnership Program," which was approved by the GEF for implementation by the AfDB to promote the scaling up of renewable energy technologies and contribute to the delivery of universal power supply in Africa. The Project is aligned with the GEF6 climate change mitigation focal area – promote innovation, technology transfer, and supportive policies and strategies. It is estimated that the GEF investment will enable the reduction of 61,000 tons of CO2 per year.
Egypt has one of the best solar resources in the world, with daily sunshine averaging 9-11 hours, low humidity, and global horizontal irradiation of around 2230-2330 kilowatt-hour (“kWh”)/m2 per year. In order to meet the increasing energy demand, diversify the energy mix, and improve the environmental and climate footprint of the power sector, Egypt has developed an overarching regulatory framework for the development of renewable energy capacity with the aim of securing 20% of its energy generation from renewable sources by 2022. In September 2014, Egypt launched a FiT Program for a total of 4,300MW including 2,300MW of solar PV.
Asian Investors Continue to Favor Big Ticket Deals and Diverse Geographic Mix When Deploying Capital into Global Real Estate
London, New York, Hong Kong the Leading Global Destinations for Asian Investors
Global real estate continues to serve as an attractive asset class for investors, with Asian outbound investment into the sector posting significant year-on-year gains in the first half of 2017, according to the latest research from CBRE.
Approximately US$45.2 billion of Asian outbound capital was directly invested into global property in the first half of 2017, representing a 98.4% rise year-on-year against US$22.8 billion allocated in the first half of 2016.
Strength in Asian outbound investment was led largely by the preference of investors for big ticket deals in the global real estate sector. In the first half of 2017, 74% of committed investments were deployed into transitions valued at US$250 million and over, versus 56% in the corresponding period in 2016.
Geography-wise, Asian investors remain bullish on Europe, Middle East and Africa (EMEA) and the Americas, which drew US$21.9 billion—driven largely by a single US$13.2 billion from the logistics portfolio purchase—and US$11.3 billion in capital, respectively. The top five global destinations for Asian investment in H1 2017 were London (10%), New York (8%), Hong Kong (5%), Shanghai (4%) and Singapore (4%).
London, New York & Hong Kong are Leading Global Destinations for Asian Investors
H.B. Fuller to acquire Royal Adhesives & Sealants for $1.5 billion
H.B. Fuller Company, announced that it has signed an agreement to purchase Royal Adhesives & Sealants, a leading manufacturer of high-value specialty adhesives and sealants. This business consistently delivers industry-leading growth rates, EBITDA margins, and free cash flow that are expected to enhance H.B. Fuller’s position as a global leader in the adhesives industry.
“This accretive acquisition accelerates realization of our 2020 strategic objective to focus and grow in engineering adhesives and other highly specified market segments, while exceeding our targeted cash flow, EPS and EBITDA margin targets,” says H.B. Fuller President and Chief Executive Officer Jim Owens. “With Royal’s strong customer relationships and experienced team, we will add depth and breadth to our portfolio. Royal’s complementary offerings will expand our presence in North America, Europe and China, and add new technology and capabilities. We have identified $35 million in cost synergies and $15 million in growth synergies that we expect to realize over the next three years as a result of merging these two great adhesives businesses. Upon closing the transaction, H.B. Fuller will be a company with nearly $2.9 billion in revenue, focused on profitable growth in attractive engineering, durable assembly, and construction adhesives markets.”
Royal is expected to generate approximately $650 million in revenue and $138 million in adjusted EBITDA for H.B. Fuller’s fiscal year 2017. The company operates 19 manufacturing facilities in 5 countries, and employs approximately 1,500 people globally. Read more...
BASF completes acquisition of THERMOTEK
BASF has completed the acquisition of GRUPO THERMOTEK, a leading waterproofing systems supplier based in Monterrey, Mexico. Through this acquisition, BASF’s Construction Chemicals division strengthens its channels to market and builds on its portfolio of brands for construction professionals.
THERMOTEK, founded as a privately held company in 1992, is well- positioned in the waterproofing systems market in Mexico. Its products are designed to offer maximum quality on virtually every type of substrate and include resinous and dispersion-based materials as well as modified asphalt sheet membranes. The company has more than 200 distributors in the region and employs approximately 500 people.
The transaction includes the well-known THERMOTEK and CHOVATEK brands, and others, which will continue to be sold through retail channels, material houses and local hardware stores.
“The acquisition of THERMOTEK enables us to continue on our growth path by bringing a robust portfolio of construction solutions to a broader customer base,” said Michael Stumpp, Managing Director BASF Mexicana S.A. de C.V. and Central America. “This is an exciting time for our business and we welcome the THERMOTEK employees to the BASF family.” Read more...
Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura Co., Ltd., announced that it will open Hotel JAL City Sapporo Nakajima Park in 2019 on Japan’s northernmost main island of Hokkaido. The company has signed a contract with Sapporo NK Management LLC to operate and manage the new hotel.
Hotel JAL City Sapporo Nakajima Park’s facilities were developed by Sapporo NK Kaihatsu LLC that is invested by Misawa Homes Co., Ltd. Sapporo NK Kaihatsu has contracted with ORIX Real Estate Investment Advisors Corporation for asset and project management services for the new property.
“Hotel JAL City Sapporo Nakajima Park will become the second member hotel following Hotel JAL City Nagoya Nishiki embodying Hotel JAL City’s renewed hotel concept,” said Okura Nikko Hotel Management CEO Marcel P. van Aelst. “It is always a great pleasure to welcome another member hotel, especially in a city like Sapporo, a destination much loved also by overseas travelers. We hope to establish further Hotel JAL City properties in other major Japanese metropolises to cater to growing international demand.”
Hotel JAL City Sapporo Nakajima Park will be the third hotel in Sapporo managed by Okura Nikko Hotel Management after Hotel Okura Sapporo and JR Tower Hotel Nikko Sapporo.
Hokkaido attracts the third highest number of overseas visitors among all Japanese destinations, following Tokyo and Osaka. In 2016, Lonely Planet named Japan’s northernmost island its number one recommendation in its Best In Asiacollection of top destinations in the Asian region. Inbound overnight visitors to Sapporo, Hokkaido’s capital city, have risen for five consecutive years, including nearly 2.1 million in 2016, a 9.2 percent year-on-year increase.
Sapporo is projected to win further international acclaim for its refined aquaculture and fresh cuisine, and as a sought-after destination offering exciting activities in the seasonal wildernesses found in close proximity to the city center. Read more...
Hotel JAL City Sapporo Nakajima Park to
open in 2019
Hyatt Hotels Corporation, announced the opening of Hyatt Regency Lucknow, the first Hyatt-branded hotel in Lucknow, capital of the northern state of Uttar Pradesh in India. Hyatt Regency Lucknow is the 27th Hyatt-branded hotel in India and further expands the company’s brand presence in South Asia by offering enriching, authentic and diversified brand experiences for guests.
“The opening of Hyatt Regency Lucknow marks a significant milestone for the Hyatt Regency brand as it continues to expand its footprint throughout India,” said Kurt Straub, vice president, operations for India at Hyatt. “Not only is the hotel strategically located for business travelers visiting Lucknow, it is also well positioned for leisure guests who are interested in enjoying a journey through the Uttar Pradesh Heritage Arc of Lucknow, Agra and Varanasi.”
Conveniently located in the corporate hub of Vibhuti Khand, Hyatt Regency Lucknow is designed to connect business and leisure travelers to all Lucknow has to offer. The hotel is in close proximity to the city’s High Court and multiple public sector head offices, and the Chaudhary Charan Singh International Airport is less than 16 miles (25 kilometers) away. Additionally, landmarks and tourist attractions include Bara Imambara, La Martiniere College and Hazratganj Market. Read more...
Hyatt Regency Lucknow Opens in Northern India
Carlson Rezidor Hotel Group, one of the world’s largest and most dynamic hotel groups, announced the signing of a management contract with Phu Quoc Tourist Investment & Development JS Company to develop Radisson Blu Resort Phu Quoc.Scheduled to open in the last quarter of 2017, the new build hotel, with 522 rooms and suites, isset to be a focal point of Phu Quoc. The signing marks the second resort in Vietnam for the Group, following Radisson Blu Resort Cam Ranh Bay, slated to open in 2018.
Situated in Southern Vietnam, Phu Quoc is also known as Pearl Island, a stunning tourist destination famous for its pristine beaches, rich coral reefs and dense tropical jungles. Popular attractions comprise of Phu Quoc National Park, a UNESCO Biosphere Reserve, Din Cau Rock Temple and the spectacular Tranh Waterfall.
Strategically located along Bai Dai beach, the resort is a 27-km drive away from Phu Quoc International Airport, catering to a series of domestic and international flights.
Radisson Blu Resort Phu Quoc features an all-day dining and bar option that will serve international cuisine. Guests can also access the fully-equipped fitness center, outdoor swimming pool, spa and a VIP Lounge, as well as Casino Phu Quoc, the first in Vietnam to permit domestic entry.
The hotel is part of an integrated resort that caters to a host of recreational and corporate activities including a convention center, safari park, theater, water theme park, retail, multiple restaurants and a 27-hole golf course.
“We are honored to partner with Phu Quoc Tourist Investment & Development JS Company to deliver the benefits of Radisson Blu, an upper upscale global brand. The growth opportunities in Vietnam are immense and we are proud to be a part of the country’s economic growth story,” said Andreas Flaig, executive vice president, Development, Asia Pacific, Carlson Rezidor Hotel Group. “This latest Radisson Blu addition will provide travelers a full range of innovative design-led products and services, delivering genuine and relevant guest experiences with Radisson Blu’s distinctive Yes I Can!SM service philosophy.” Read more...
Carlson Rezidor Hotel expands in Vietnam with the signing Of Radisson Blu Resort Phu Quoc
Six Senses Hotels Resorts Spas is delighted to announce plans to open Six Senses Fort Barwara featuring 48 suites in Rajasthan, India. Situated 68 miles (110 kilometers) southeast of Jaipur, the property is located in the village of Chauth ka Barwara on the site of a 700-year-old fort which was owned by the Rajasthani Royal Family and sits directly opposite the temple, Chauth ka Barwara Mandir.
The Barwara Fort was constructed in the 14th century by the Chauhans (Indian Rajput caste) and was conquered by the Rajawat Dynasty from the Hadas in 1734. During World War II, Raja Man Singh from the noble family of Barwara along with Jaipur State Armed Forces fought alongside the British. In appreciation of his services he was bestowed with the title of Rao Bahadur. His grandson, Prithviraj Singh, is now restoring the fort to its previous glory in tandem with Espire Group. The project team will seek the five-star green rating for Integrated Habitat Assessment (GRIHA) certification, the highest classification of national sustainable design ratings in India.
Design efforts are being led by a team of conservation experts to preserve and protect the original fort structure. The 5.5 acre (2.2 hectare) site is encircled by an imposing 5-foot (1.5 meter) thick rock wall that rises up to 20 feet (6 meters) in some sections. Inside the historic fort, three buildings which traditionally accommodated the common, men’s and women’s palaces and two temples are being preserved and restored. Outside the fort, the property faces the local village to the west and protected land that will be reforested to the east. Read more...
Six Senses Hotels Resorts Spas to open first resort in India
St. Regis Hotels & Resorts, announced the opening of The St. Regis Astana, marking the debut of the brand in Kazakhstan. Developed by MG Holding, The St. Regis Astana seamlessly blends glamour, unparalleled luxury and bespoke St. Regis service with the local traditions, art and architecture of Kazakhstan.
"The country's rich history and culture blend beautifully with The St. Regis Astana, whose design, services, and culinary offerings perfectly combine the rituals and traditions of St. Regis with those of Kazakhstan," said Lisa Holladay, Global Brand Leader, St. Regis Hotels & Resorts. "Astana is a vibrant destination that continues to grow in popularity and we look forward to offering a truly luxurious experience to the growing ranks of business and leisure travelers visiting the capital city."
Ideally located inside Astana's Central Park, The St. Regis Astana offers a serene escape from the bustling downtown. Guests are in close proximity to landmarks including the Bayterek Tower and Independence Square, as well as the Khan Shatyr Entertainment Center, Astana Opera and foreign embassies.
"Astana continues to cement its role on the world center stage with its heritage, world-class architecture and the recent World Expo," said Jenni Benzaquen, Vice President, Luxury Brands, Europe for Marriott International. "The St. Regis Astana is set to redefine luxury hospitality with its uncompromising services, modern luxury and refined elegance." Read more...
St. Regis Hotels & Resorts Debuts in Kazakhstan's Glittering Capital
With 8 hotel openings in the up-coming few months in Romania (Mercure Sighisoara Binderbubi, ibis Styles Arad, Mercure Bucharest Unirii), Serbia (Mercure Belgrade Excelsior), Bosnia and Hercegovina (Novotel Sarajevo, MGallery by Sofitel Tarcin Forest Resort &Spa), Macedonia (Mercure Tetovo) and Hungary (ibis Styles Budapest Airport) and with a recordhigh number of 40 contracts in the pipeline, Orbis strengthens its development team in order to sustain the development pace in Poland and boost presence in new, promising markets in Eastern Europe.
“On one hand, Eastern Europe is a large market with - one of the highest GDP growth in Europe, generating a strong and still rising demand for business & leisure hotel services. On the other hand, we clearly see that developers and investment funds that have stayed away from the hotel-related projects in the past, are now recognizing a growing profitability in hospitality industry not only in Poland but in the whole Eastern Europe region. We want to speed up the asset-light development and make AccorHotels brands even more visible in the region and in new emerging markets such as Serbia, Croatia, Romania, Slovenia or Bulgaria. Therefore we have reorganized our development team in the region so that we can better achieve our goals.” – explains Gilles Clavie, CEO of Orbis S.A.
Frank Reul has already demonstrated his strong skills & results as Orbis & AccorHotels Area General Manager for Romania, Bulgaria and Macedonia since 2014 where he was also overseeing operations and development projects including in the Balkans and Croatia. Frank Reul is now nominated as Head of Development of Orbis and will lead all Orbis Group assetlight development activities in Eastern Europe reporting directly to the Management Board of Orbis S.A. Read more...
Orbis Hotel expands in Europe with 8 hotel opening in coming few months & 40 projects in pipeline
Accenture acquires leading Design & Innovation firm, MATTER
Accenture, has acquired MATTER, a design and innovation firm focused on designing products and experiences for the connected world. The acquisition strengthens Accenture Interactive’s design and innovation unit, Fjord, by adding physical product design to its service design and digital product creation. Based in San Francisco, MATTER specializes in producing innovative consumer products through collaboration and agile prototyping delivered through a human-centered approach.
The combination of Fjord and MATTER creates leading capabilities that fuse physical and digital design to produce experiences that span hardware, software and digital services.
“As digital is increasingly embedded in the physical world, brands are coming to us to create connected experiences that capitalize on the potential of the union of digital and physical realms,” said Baiju Shah, global co-lead, Fjord and managing director, Accenture Interactive. “MATTER allows us to fully address our clients’ needs to connect their physical products and experiences with digital services, furthering our ambition to improve the full human experience with brands.”
Founded in 2012, MATTER has worked with iconic brands including Intel, Samsung and Sonos. The firm is known for its inventiveness in using emerging digital technologies to embed interactivity into physical objects and environments. It is led by renowned product and interaction designer, Max Burton, who contributed to the inception of Nike+ while at Nike’s Tech Lab and to MyMagic+ and the Disney Magic Band. Read more...
Mahindra Comviva to acquire Emagine International
Mahindra Comviva, a global leader in mobility solutions, has signed an agreement to acquire Emagine International for an undisclosed value. Emagine International is a specialist provider of real-time, contextual marketing solutions and managed business intelligence services.
Customer Value Management represents an unprecedented opportunity for business value creation. Acquisition of Emagine significantly enhances Comviva’s strengths and in addition to the technology and solution capabilities of both companies, matured managed marketing services will further enable Comviva to deliver enhanced customer value. Emagine’s acquisition will strengthen Comviva’s in-region capabilities to deliver end-to-end solutions to customers. It also adds a number of impressive customers, including Optus, 9 Mobile (formerly Etisalat Nigeria), Virgin Mobile, Vodacom and Vodafone Australia to Comviva’s portfolio.
Comviva also announced the appointment of David Peters, chief executive officer, Emagine International and Amit Sanyal, business head, customer value management practice, Comviva, as the executive heads of the combined business.
Commenting on this, Manoranjan ‘Mao’ Mohapatra, CEO, Mahindra Comviva said, “We are delighted to join hands with Emagine as it will greatly enhance our ability to capitalize on the exploding demand for consumer analytics solutions. Comviva is focused on ensuring a leadership position in this space. With this, we are well positioned to deliver accelerated revenue growth to all our stakeholders.”
Speaking on the occasion, David Peters, CEO, Emagine International said, “We’re confident that the combined strengths, services expertise, and talent of our companies will bring greater end-to-end capabilities of products and services for telecom operators, delivering greater value to all our existing customers globally, and opportunities for accelerated growth.” Read more...
LightInTheBox and Gati form partnership aimed at E-Commerce market in India
LightInTheBox Holding Co., Ltd., a global online retail company that delivers differentiated products directly to customers around the globe, announced that it has formed a strategic business partnership with Gati, India's pioneer in express distribution and supply chain solutions, aimed at providing localized logistics and supply chain solutions for LightInTheBox customers in India in order to further capture India's rapidly growing e-commerce market with attractive consumer products from China. Gati will become LightInTheBox's first key local business partner in India.
LightInTheBox will leverage its extensive supply chain network in China to provide high quality products at attractive prices to over 100 million Indian online shoppers using Gati's pan Indian expertise in logistics and warehousing to simplify the cross-border e-commerce shopping experience for Indian customers. Gati's customized cross-border logistics solutions between China and India will significantly improve the speed, reliability, and cost of delivery of LightInTheBox parcels to India. Both companies will jointly explore online payment solutions, big data analytics, and general business development initiatives as well as local warehousing and fulfillment solutions in India to further reduce delivery times and improve customer satisfaction. In addition, LanTing ZhiTong, LightInTheBox's global cross-border open logistics platform, will be integrated within Gati's logistics and warehousing network providing online Chinese merchants with quick and easy access to the Indian market. Read more...
Amazon announced the expansion of its infrastructure footprint opening its largest fulfilment center in India with the view to enhance customer experience just ahead of the festive season. Covering over 400,000 square feet with close to 2.1 million cubic feet of storage space, the center situated in Shamshabad near Hyderabad is the 5th fulfilment center in Telangana and the largest in India. Amazon has ramped up storage capacity to 3.2 million cubic feet in Telangana to enable faster deliveries to customers in the region.
On the occasion of the launch, Honorable Minister of IT, Municipal Administration & Urban Development, Industries & Commerce, Public Enterprises, Sugar, Mines & Geology, NRI Affairs, Government of Telangana. Shri. K. T. Rama Rao said, “Amazon India’s latest investment with the launch of their 5th Fulfilment Centre in Telangana, here in Shamshabad, Telangana evidently signifies the growing interest of large global enterprises in the state. The FC will enable thousands of small & medium businesses selling locally created products such as apparels, handlooms & handicraft to service customers seamlessly across the country & the globe. It will also fuel the growth of ancillary businesses such as packaging, transportation, logistics, and hospitality across the state. We are committed to enabling the ease of doing business and enabling companies like Amazon.in to expand their presence in Telangana.”
“Our vision is to transform the way India buys and sells. At Amazon, we have been consistently investing in our infrastructure and delivery network, so we can increase our speed of delivery and provide a superior experience to both – customers and sellers. With the launch of our largest fulfilment center here in Telangana, we strongly believe that we will be able to better serve our customers with one-day & two-day delivery. The FC will enable sellers to use local infrastructure, save capital and help them grow their businesses.” said Akhil Saxena, Vice President, India Customer Fulfilment, Amazon India. Read more...
Amazon.in opens its Largest Fulfilment Centre in India
HCL to acquire data automation platform Dataware
HCL Technologies (HCL), a leading global IT services company, has agreed to buy ETL Factory Limited, doing business as Datawave, a UK–based company that has created an innovative data automation platform which enables enterprise customers execute large scale, complex data–migration and data–integration projects in a leaner, faster and smarter way. The flagship product Datawave, won the Informatica Innovation Award and is also extendable to other platforms, including big data.
“The acquisition of Datawave and its suite of products bolsters HCL’s capabilities to collaborate with clients on their mission–critical data transformation projects, incorporating a culture of DevOps and continuous integration,” said Rahul Singh, President and Head– Financial Services, HCL Technologies. “Datawave also brings in significant banking industry expertise.”
“In a recent market study done by HCL, 81% of organizations said they were overwhelmed with the volume and variety of data needed to drive digital transformation. Datawave’s automation solutions will significantly help our clients accelerate their digital journey through a robust data architecture,” said Anand Birje, Corporate Vice President and Head – Digital & Analytics, HCL Technologies.
“The synergies between Datawave’s customer-centric, enterprise data integration platform and HCL’s technology leadership and deep engineering capabilities will deliver unparalleled value to our clients,” said Mark Butterworth, CEO, Datawave. Read more...
Landauer, Inc., a recognized leader in personal and environmental radiation measurement and monitoring and outsourced medical physics services, announced that it has entered into a definitive agreement to be acquired by Fortive Corporation (NYSE: FTV). Under the terms of the agreement, Fortive will make a $67.25 per share cash tender offer to acquire all outstanding Landauer shares for a total transaction value of approximately $770 million, including the assumption of debt and net of acquired cash. The agreement was unanimously approved by Landauer's Board of Directors.
Fortive is a diversified industrial growth company, based in Everett, Washington. Fortive is comprised of Professional Instrumentation and Industrial Technologies businesses that are recognized leaders in attractive markets with well-known brands in field instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution. The company was formed as a spin-off from the global science and technology company Danaher Corporation in 2016.
Following the completion of the transaction, Landauer will become part of Fortive's Field Solutions platform within Fortive's Professional Instrumentation segment.
Mike Kaminski, President and Chief Executive Officer of Landauer stated, "Today's announcement is an exciting step forward for Landauer, enabling us to combine our strengths as a leader in radiation measurement with Fortive's powerful and complementary Field Solutions platform and safety- as- a-service offerings.
As part of Fortive we will expand our global scale and capabilities, leading to broader solutions for our customers and increased opportunities for our employees." Read more...
Landauer, Inc. to be acquired by Fortive Corporation for $770 million
Bio-Techne Corporation has acquired all of the stock of Trevigen Inc
Bio-Techne Corporation, announced that it has acquired all of the stock of Trevigen Inc. for cash. The transaction is financed through available cash on hand.
Charles R. Kummeth, President and Chief Executive Officer of Bio-Techne, commented, "We are pleased to have Trevigen as part of Bio-Techne Corporation. We are very familiar with the Trevigen product line, having sold it for many years. The Trevigen products complement our current product portfolio and make it easier to reach customers interested in products to better understand cell behavior and genotoxic events on cells. Having tools to study DNA damage and the apoptotic cell process is an important aspect of understanding drug action. As more drug testing is being conducted on physiologically more appropriate cell models, including 3D cell cultures, having membrane extracts products to support the robust growth of such cells, such as the Cultrex product line, makes these products an important addition to the Bio-Techne product line."
Trevigen Chief Executive Officer Dr. Michael Elliot added, "We believe there is a good strategic fit between the two companies given that both companies share the passion to empower cutting-edge science with quality reagents. We have had long standing business relationship with Bio-Techne and we are pleased to have found a home for our products. Having a broader array of products will serve both our customers more efficiently and provide additional market channels for our products in the global market." Read more...
Jubilant Life Sciences Ltd, an integrated global Pharmaceutical and Life Sciences Company, has announced that Jubilant Pharma Limited (JPL), a material wholly owned subsidiary of the Company, through one of its wholly owned subsidiaries, has successfully completed the acquisition of the US radiopharmacy business of Triad Isotopes, Inc.
Speaking on the occasion, Mr. Shyam S Bhartia, Chairman, and Mr. Hari S Bhartia, Co-Chairman and Managing Director, said:
“The acquisition adds significant scale to our niche Radiopharmaceutical business in the Specialty Pharma - Injectibles segment complementing our strategy of being a leading nuclear medicine player. Triad has an experienced management team, customer focus and strong relationships with GPOs in the United States, which allows us to directly serve customers through hospitals with high quality radiopharmaceutical products. We plan to expand the sales coverage to better and more optimally serve patients, physicians, imaging centers and hospitals, going forward.” Read more...
Jubilant completes acquisition of Radiopharmacy business of Triad
Arrow Pharmaceuticals, Australia, a subsidiary of Strides Pharma Global Pte Ltd, Singapore acquired the Australian operations of Amneal Pharmaceuticals. The acquisition would accelerate Arrow’s market reach and will help in attaining a leadership position in the Australian generics market.
Strategic Rationale •
Amneal Pharmaceuticals commenced operations in Australia in 2014 and established a comprehensive product offering including generic medicines and branded OTC productsArrow Pharmaceuticals has a low-touch pharmacy model with a stated strategic intent of achieving a leadership position in the Australian generics market through expansion of its first-line stores, new product introductions and better compliance
Amneal’s operations in Australia required higher operating spends to deliver their historical revenues. The business integration into the Arrow’s front-end model is expected to deliver a sustainable profitability through improved operating leverage. Complete integration is expected to happen over the next 12 months
Post integration of the business, the acquisition is expected to add annual revenues of ~AUD 25 Million, improve Arrow’s generics market share to ~22% adding ~200 new first-line stores expanding its first-line pharmacies to more than 1200 stores
In line with the strategic intent, Arrow has expanded its product portfolio over the last two years from ~150 molecules to ~170 molecules today. This acquisition further bolsters its product portfolio with the addition of 13 molecules to the Arrow range
The acquisition also provides for significant synergy opportunities with 100+ molecules being common with the Arrow portfolio. Post successful integration, all the molecules will be unified under the Arrow brand
Under the terms of the agreement, Arrow Pharmaceuticals will acquire 100% of the issued capital of Amneal Pharmaceutical Pty Limited, Australia. Arrow will incur an amount of AUD 17 Million towards consideration, working capital and other estimated acquisition and integration related costs
Chairman of Arrow Pharmaceuticals, Dennis Bastas said “the acquisition of Amneal’s Australian operations further expands our customer footprint. We have been fortunate to have experienced strong organic growth across our primary customer base within both our prescription medicines and Chemists’ Own portfolio. Bringing Amneal’s customer base into our network of supporting pharmacies further accelerates this current growth and strengthens the offering we bring to all our customers”. Read more...
Arrow Pharmaceuticals acquires Amneal Pharmaceuticals in Australia
IFAD and Iraq invest in new partnership to revitalise smallholder Agriculture
In an important step toward financing its first post-war agricultural investment project in Iraq, the UN’s International Fund for Agricultural Development (IFAD) met with a high-level Iraqi delegation in Rome last week. The project will target 20,000 rural households in the poorest southern governorates of Missan, Thi Qar, Qadissiyah and Muthana.
The delegation was welcomed by Khalida Bouzar, IFAD's Director for the Near East, North Africa and Europe, along with her team from the regional Division.
“The rationale for the current project stems from the fragility of Iraq and IFAD’s commitment to assist countries with fragile situations. IFAD has significant experience in areas in which the Government of Iraq needs assistance, such as agriculture and rural development,” said Bouzar. “Investment in agricultural growth is not only important to growth in national income, but is also vital to growth in employment, food and nutrition security and reduction of poverty in Iraq.”
During the meeting, Bouzar expressed her confidence that the new project would be a milestone for IFAD and Iraq. “This will be an example of the stronger and more efficient collaboration that characterizes the renewed partnership between IFAD and Iraq’s government,” she said.
Iraqi Ambassador Ahmed A.H. Bamarni thanked IFAD for its promptness in creating the project, and said that he believed the project would directly support the Iraqi government’s reconstruction efforts following years of conflict. Read more...
Nestlé USA announced that it has agreed to acquire Sweet Earth, a plant-based foods manufacturer based in Moss Landing, Calif. The acquisition gives Nestlé immediate entry into the plant-based foods segment, which is growing by double digits and expected to become a $5 billion market by 2020. Sweet Earth’s portfolio spans all meal occasions, diversifying Nestlé’s offering beyond its existing category leadership in meals and snacks.
Launched in 2011 by co-founders Kelly and Brian Swette, Sweet Earth’s award-winning frozen meals, burritos, breakfast sandwiches, and chilled plant-based burgers and proteins are sold in more than 10,000 stores, including independent natural grocers, Whole Foods, Target, Kroger and Walmart.
Sweet Earth produces its product lines (48 items) in a 40,000-square-foot facility at its Moss Landing headquarters. Sweet Earth’s on-trend products feature global flavors and plant-based proteins like seitan (wheat-based), tofu and legumes like lentils, chickpeas and beans. Sweet Earth’s products span three core platforms: entrees, breakfast and plant-based proteins, called Righteous Meats®. The products are wholesome, nutritious, and include a variety of vegan and ethnic-inspired choices such as General Tso’s Tofu and the Curry Tiger Burrito. Read more...
Nestlé USA to acquire
Tyson Foods to build a $320mn poultry complex in Kansas
In response to strong consumer demand for chicken, Tyson Foods, Inc., announced plans to build a $320 million poultry complex in eastern Kansas.
The company will construct a processing plant, hatchery and feed mill near the city of Tonganoxie, in Leavenworth County, which will employ approximately 1,600 people and contract with northeast Kansas farmers and ranchers to raise chickens. The operation, currently scheduled to begin production in mid-2019, will produce pre-packaged trays of fresh chicken for retail grocery stores nationwide.
“More people want fresh food and as one of the world’s leading protein companies, we’re well-positioned to provide it,” said Tom Hayes, president and CEO of Tyson Foods. “We believe this new operation, which will incorporate the latest production technology, will enable us to meet the sustained growth in consumer demand for fresh chicken.”
The poultry plant will be capable of processing 1.25 million birds per week, increasing Tyson Foods’ overall production capacity. The payroll and payments to farmers from the new operation, along with its purchase of grain and utilities, is expected to generate an annual economic benefit to the state of Kansas of $150 million.
“Kansas will be an outstanding home for this Tyson complex,” said Governor Sam Brownback. “Growing Kansas means we must grow the food and agriculture sector which accounts for nearly 45 percent of the state’s economy. The far-reaching impact of this development will be felt by farmers, ranchers, agribusinesses and communities throughout eastern Kansas. This is a step in the right direction to further diversify and grow our state’s economy.”
“Tonganoxie is looking forward to a successful partnership with Tyson Foods,” said Tonganoxie Mayor Jason Ward. “We have planned for a development of this type for many years by making strategic investments in public infrastructure targeted to support future industrial growth. This project will bring much anticipated opportunities for local residents to enjoy the quality of life benefit of working close to home. Tyson has a long history of support for small towns and local markets. They will be a great fit for our community.” Read more...
Agropur acquires Agrifoods’ interest in Ultima Foods
Agropur Cooperative and Agrifoods International Cooperative Ltd. – two of Canada’s leading dairy cooperatives – announced that they have concluded an agreement pursuant to which Agropur will become the sole owner of Ultima Foods Inc.
Ultima Foods was a 50-50 joint venture by two of Canada’s leading cooperatives; Agrifoods and Agropur. With more than 40 years of expertise in the yogurt business, Ultima Foods has been a consistent success in terms of market share and is known as a major innovator in the yogurt category. Today, Ultima Foods is renowned for its iögo and Olympic brands, which registered industry-leading growth in 2016.
Both cooperatives are very pleased with the transaction and excited for what lies ahead:
“I am very pleased with this transaction. Our partnership with Agrifoods has been exceptional and I want to thank our partner for its historical commitment in jointly developing Ultima Foods. This transaction continues along the course we have charted and will support our long-term development in the yogurt category,” said René Moreau, President of Agropur. “We are always very proud when we are able to keep processing assets in the hands of Canadian dairy farmers.”
“We are proud that our successful partnership with Agropur resulted in Ultima Foods becoming an industry leader with brands enjoyed by Canadians from coast to coast,” said Tim Hofstra, President and Chair of Agrifoods. “This is a very positive transaction as it will create the optimal condition for Ultima Foods’ development and will enable the company to remain in the hands of Canadian dairy producers.” Read more...
RDIF and TH Group to invest in Russian Agriculture
The Russian Direct Investment Fund (RDIF) and Vietnam’s largest agricultural conglomerate TH Group have agreed to jointly invest in agricultural projects in Russia, with a focus on dairy farming and milk processing in the Far East of Russia. The agreement was signed prior to the Eastern Economic Forum in Vladivostok.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"There is great potential for increasing production efficiency in the Russian dairy industry through the construction of high-tech farms and the implementation of best practices in cattle farming and milk processing. TH Group has previously invested in Russia, and has essential expertise and ability to increase the quality and efficiency of domestic milk production."
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Read more...
Bimbo invested $86 Million in its new plant at Tenjo in Colombia
With an investment of US $86 million, Bimbo de Colombia inaugurated its new production plant and distribution center in Tenjo, Cundinamarca, which has a capacity of 8 tons per hour, four lines to make hamburger bread, snacks, as well as puff pastry, a new category in which it did not compete in Colombia, and will contribute a significant percentage to projected sales for 2017. After a year of construction, the plant is located in the Motorway Medellín kilometer 11.5, Industrial Park of Bimbo.
The inauguration ceremony was attended by the President of the Republic, Dr. Juan Manuel Santos Calderón, as well as Mr. Daniel Servitje, President and CEO of Grupo Bimbo, Mr. Gabino Gómez, Deputy General Manager of Grupo Bimbo, Mr. Esteban Giraldo, General Director of the Latin Organization of Grupo Bimbo, Mr. Carlos Ignacio Gallego, President of Nutresa, and Mr. Fernando López, General Manager of Bimbo of Colombia.
Fernando López, said that these new facilities expand production capacity to meet current demand, and generate 270 new direct jobs in addition to the existing 3,800.
Grupo Bimbo is a Mexican company, world leader in the baking industry with more than 70 years of history and with presence in 24 countries in America, Asia, Africa and Europe. Locally it has 88% brand recognition among Colombians and has three strategic business units: Panificadores Familiares, Pan Dulce and Soluciones, which presented double-digit growth in 2016. That same year, a significant percentage of sales came from innovation products and entered the frozen bread segment with the acquisition of the company Panettiere.
4 - 9 SEPTEMBER 2017
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