THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
IPAWEEK
16-21 OCTOBER 2017
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
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BASF to buy seeds, herbicide businesses from Bayer for US$ 6.9 billion
Dell will invest US$ 1 bn in Internet of Things research and development
Sanofi invests US$ 200m in new vaccine production facility in France
Hotel investments in Thailand, Singapore, Saudi Arabia and Brazil
IFC Partners with City of Kyiv to Introduce Smart City Infrastructure
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BASF has signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses. Bayer intends to divest these assets in the context of its planned acquisition of Monsanto. The all-cash purchase price is €5.9 billion, subject to certain adjustments at closing. The assets to be acquired include Bayer’s global glufosinate-ammonium non-selective herbicide business, commercialized under the Liberty®, Basta® and Finale® brands, as well as its seed businesses for key row crops in select markets: canola hybrids in North America under the InVigor® brand using the LibertyLink® trait technology, oilseed rape mainly in European markets, cotton in the Americas and Europe as well as soybean in the Americas. The transaction also includes Bayer’s trait research and breeding capabilities for these crops and the LibertyLink® trait and trademark. For the full year 2016, sales of the business to be purchased from Bayer amounted to around €1.3 billion and EBITDA to around €385 million. The transaction is subject to the closing of Bayer’s acquisition of Monsanto and approval by relevant authorities. It is expected to close in the first quarter of 2018. The acquisition complements BASF’s crop protection business, strengthening the company’s herbicide portfolio and marking its entry into the seed business with proprietary assets in key agricultural markets. “Building on the competent new team members and the enhanced portfolio, we will offer farmers a greater choice of solutions addressing their needs for high-quality seeds, chemical and biological crop protection,” explained Saori Dubourg, Member of the Board of Executive Directors of BASF SE and responsible for the Agricultural Solutions segment. “Moreover, this transaction will create new opportunities for future growth and strengthen our global innovation potential.”
Southern Company Gas to Sell Elizabethtown Gas and Elkton Gas to South Jersey Industries in US$ 1.7 Billion Deal
Southern Company and Southern Company Gas announced that Pivotal Utility Holdings, Inc., a subsidiary of Southern Company Gas, has entered into agreements to sell the assets of its utility operating divisions Elizabethtown Gas and Elkton Gas to South Jersey Industries in an all-cash transaction with an enterprise value of approximately $1.7 billion. Southern Company Gas is a subsidiary of Southern Company. "This transaction, which we anticipate completing by third quarter 2018, will strengthen the balance sheets of Southern Company Gas and Southern Company by reducing existing financing requirements," said Thomas A. Fanning, chairman, president and CEO of Southern Company. "In addition to maximizing value for Southern Company shareholders, the transaction is beneficial to our company and aligns with our overall business strategy to drive growth and prosperity." The transaction, which is expected to be operationally seamless to customers, is designed to ensure that Elizabethtown Gas and Elkton Gas will continue their customer-focused business model and strong commitment to safety, reliability, excellent customer service and giving back to the communities where they are privileged to serve. The transaction will involve, among other things, approval by the NJBPU and MPSC (with respect to the Elkton Gas sale), the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and certain limited approvals by the Federal Energy Regulatory Commission and the Federal Communications Commission.
Tata and Bharti to Combine Consumer Telecom Business
Bharti Airtel Limited( India’s largest telecommunications services provider and Tata, India’s leading conglomerate, announced that they have entered into an understanding (“Agreement”) to merge Consumer Mobile Businesses (CMB) of TTSL and TTML into Bharti Airtel. The acquisition is subject to requisite regulatory approvals. As part of the Agreement, Bharti Airtel will absorb Tata CMB’s operations across the country in nineteen circles (17 under TTSL and 2 under TTML). These circles represent bulk of India’s population and customer base. The proposed merger will include transfer of all the customers and assets of Tata CMB to Bharti Airtel, further augmenting Bharti Airtel’s overall customer base and network. It will also enable Bharti Airtel to further bolster its strong spectrum foot-print with the addition of 178.5 MHz spectrum (of which 71.3 MHz is liberalised) in the 850, 1800 & 2100 MHz bands. Bharti Airtel will ensure quality services to Tata CMB’s customers, while offering them the added benefits of its innovative product portfolio, access to superior voice & data services, mobile banking, VAS and domestic/ international roaming facilities. Tata CMB’s operations and services will continue as normal until the completion of the transaction. Tata and Bharti Airtel will work together to further explore other mutual areas of cooperation, that will be value accretive for both the Groups. The transaction will also provide Bharti Airtel with an indefeasible right to use (IRU) for part of the existing fibre network of Tata. The merger is being done on a debt-free cash-free basis, except for Bharti Airtel assuming a small portion of the unpaid spectrum liability of Tata’s towards the DoT, which is to be paid on deferred basis. The employees of Tata will be demerged on the lines of the two businesses i.e. CMB and EFL (Enterprise and Fixed Line and Broadband), and post an optimal manpower planning will be moved accordingly.
Lendlease Group announced the establishment of an infrastructure joint venture with SoftBank Group to develop and own telecom infrastructure assets in the United States. The joint venture, to be known as 'Lendlease Towers', will focus on partnering with major US carriers to roll out further phases of their infrastructure expansion plans to meet growing demand for data. The aim is to create a geographically diverse portfolio of rooftop and tower assets through both a development and an acquisition-based strategy. Lendlease and SoftBank have each committed US$ 200 million equity, and as growth occurs, will look to introduce capital partners. The initial US$ 400 million has been allocated to fund the acquisition and strategic restructure of approximately 8,000 existing telecom sites, including rooftops and other structures, across the United States. Lendlease Towers will target $US5 billion of telecom infrastructure assets over the medium term. Lendlease has been appointed the joint venture manager, asset manager and development manager. Lendlease CEO Americas, Denis Hickey said, "I am pleased to announce the establishment of an infrastructure vehicle focused on the US telco sector, which continues to experience unprecedented growth in data usage as the world moves to becoming more connected." "Consistent with our strategy of focusing on growing demand for infrastructure, we've identified the telco infrastructure sector as an opportunity to deploy our integrated business model.
Lendlease and SoftBank establish Telecom Infrastructure Joint Venture in United States
Engie to acquire African home solar business
ENGIE and Fenix announce that they have agreed on a transaction in which ENGIE will acquire 100% of Fenix International1, a next generation energy company, offering Solar Home Systems (SHS) in Africa. Founded in 2009, Fenix employs 350 people and has its main activities in Uganda where it is the leading SHS player with more than 140,000 customers. Fenix recently expanded into Zambia and plans further roll-outs in other countries across Africa. Fenix will be the first SHS company to join a major worldwide energy company, which puts the fight against climate change and energy access at the very center of its purpose. Bruno Bensasson, CEO of ENGIE Africa: “We believe that combining the strengths of ENGIE, a global energy player and Fenix, a successful company with very strong customer focus, high-quality products and an experienced team anchored in the heart of Sub-Saharan Africa, will enable faster deployment of SHS to the large African population still lacking access to electricity. Fenix will be the agile growth engine for ENGIE’s SHS business in Africa and enable us to become a leading profitable off-grid energy services company on the continent, reaching millions of customers by 2020. We do believe that universal access is now reachable in a foreseeable future by the combination of national grids extension, local micro-grids and solar home systems, depending on the local characteristics of the energy demand.” Lyndsay Handler, CEO of Fenix International: “Fenix and ENGIE share the belief that universal access to energy is possible and paramount. To date, Fenix has delivered reliable solar power to over 900,000 people in East Africa. By joining forces with ENGIE - one of the world’s largest independent utility companies with a firm commitment to a decentralized, decarbonized and digital energy revolution - we will greatly accelerate the path to our vision.” She added: “Our values and our team will remain at the core of Fenix. We will continue to relentlessly pursue an exceptional customer experience in all we do and we will invest even more in building a great team with a strong culture. Together with ENGIE’s ambitions, experience, talent and long-term investments, we will deliver affordable power and other life-changing products to customers across Africa and make universal access to modern energy a reality."
IFC,a member of the World Bank Group, and the city of Kyiv signed an agreement to work together to modernize the city’s public transport, improve waste management, and boost energy efficiency. The Memorandum of Understanding aims to improve urban infrastructure in Ukraine’s largest city of about 3 million people, drive economic growth, and ensure the quality and sustainability of communal services. IFC will use tailored strategies and advisory support, identifying priority projects related to transport, energy and waste management sectors and supporting a plan to boost the city’s financial management practices. “We are committed to making Kyiv a better place to live and work and turning it into a top investment destination with modern and reliable infrastructure. IFC’s support will help us ensure we are implementing the best possible solutions for the citizens of Kyiv, while also serving as an example for other cities in Ukraine,” said Vitaly Klichko, Kyiv mayor. This collaboration is part of IFC’s Cities Initiative, an innovative approach to problem-solving for cities that creates markets and opens opportunities for increased investment. “Cities are central to sustainable development and economic growth,” said Elena Bourganskaia, IFC Global Head for Water and Municipal Infrastructure. “IFC is using its global expertise to help Kyiv find the right solutions to fuel its growth and improve the quality of life for its residents, while also preserving its unique history and vibrant culture.”
Airbus SE and Bombardier Inc. are to become partners on the C Series aircraft programme. The agreement brings together Airbus’ global reach and scale with Bombardier’s newest, state-of-the-art jet aircraft family, positioning both partners to fully unlock the value of the C Series platform and create significant new value for customers, suppliers, employees and shareholders. Under the agreement, Airbus will provide procurement, sales and marketing, and customer support expertise to the C Series Aircraft Limited Partnership (CSALP), the entity that manufactures and sells the C Series. At closing, Airbus will acquire a 50.01% interest in CSALP. Bombardier and Investissement Québec (IQ) will own approximately 31% and 19% respectively. CSALP’s headquarters and primary assembly line and related functions will remain in Québec, with the support of Airbus’ global reach and scale. Airbus’ global industrial footprint will expand with the Final Assembly Line in Canada and additional C Series production at Airbus’ manufacturing site in Alabama, U.S. This strengthening of the programme and global cooperation will have positive effects on Québec and Canadian aerospace operations. Airbus is strongly committed to Canada and its aerospace sector with Canadian suppliers extending their access to Airbus’ global supply chain. This new C Series partnership is set to secure jobs in Canada for many years to come.
Airbus and Bombardier announce C Series Partnership
Kotoka International Airport’s terminal 3 to cement airport’s position as a major regional hub SITA is providing its world-class passenger and baggage processing technology as well as its airport management solutions to Ghana’s new Terminal 3 at Kotoka International Airport in Accra, helping cement the airport’s position as a vital regional hub. Ghana’s largest airport is expanding its capacity to meet significant growth in international passenger traffic, increasing the airport’s capacity to five-million passengers a year. The country’s aviation industry has witnessed significant growth over the past decade due to the discovery of petroleum and gas reserves, sustained domestic demand and the growth of the tourism sector. SITA, the global air transport IT provider, has worked closely with both MAPA, the construction company building the new terminal, and Ghana Airports Company Limited (GACL), the airport operator, to ensure that the new terminal has the most up-to-date technology to support the country’s modern airport infrastructure. SITA already provides technology for Terminals 1 and 2 at Kotoka International Airport and will ensure that its world-class technology is fully integrated with the existing terminals from day one. This will deliver smooth passenger and baggage processing, and efficient operations across the entire airport. On the operational side, SITA’s Airport Management Solution will simplify planning and operational control, and facilitate collaborative decision-making, data management and analysis in Terminal 3 and across the entire airport. It will also support revenue management with its billing and reporting functionality.
SITA technology to drive expansion at Ghana's new international terminal
KBR to acquire Australian ICT services company Sigma Bravo
KBR, Inc., announced it has entered a definitive agreement to acquire Sigma Bravo Pty Ltd, a leading provider of high-end Information and Communication Technology (ICT) services specializing in mission planning systems and solutions to the Australian Defence Force (ADF). Sigma Bravo delivers an array of specialist Aerospace ICT based solutions supporting ADF's critical mission planning and information management systems and programs. Sigma Bravo's end-to-end solutions are backed by an innovative team of former aircrew, engineers, software developers and project managers who have the professional skills and experience needed to optimize solutions. The acquisition of Sigma Bravo represents KBR'S entry into classified work in Australia and is a continued element of KBR's strategy to expand its global Government Services offerings. Sigma Bravo will become a KBRwyle company reporting within KBR's Government Services segment and will maintain its current structure to ensure business continuity. "The transaction reinforces KBR's Government Services strategy to grow and enhance our high-end technology and science-driven services that will help to drive longer-term revenue visibility and higher value," Bradie continued. "We are very pleased to welcome them to KBR and to KBRwyle."
Investcorp, a leading provider and manager of alternative global investment products, today announced that it has agreed to acquire Kee Safety Ltd ("Kee Safety" or the "Company"), a global supplier of safety solutions and products designed to protect people from hazards, from Dunedin LLP and LDC for an enterprise value of £280 million ($370 million). Established in the UK in 1934 and headquartered in Birmingham, Kee Safety is the leading global provider of fall protection solutions and products associated with working at height. The Company's products have a longstanding reputation for their quality, reliability and safety and include fall prevention equipment, roof edge protection, barrier and guardrail systems and safe access solutions. Today, the Company has a global presence and sells its products across more than 60 countries worldwide to a broad range of customers, from multi-national corporations to distributors and installers. The Company employs 480 people and has established operations in 10 countries, including the US and China. Investcorp plans to support Kee Safety's international growth strategy both organically and by considering further add-on acquisitions, expanding the Company's geographic footprint and strengthening its presence in existing markets. Operating in a highly fragmented market, Kee Safety is well positioned to leverage its strong reputation for the reliability of its products and its scalable business model to benefit from increasing levels of safety regulation and enforcement around the world, and to deliver above market growth rates. Jose Pfeifer, Principal in Investcorp's European Corporate Investment group, said: "Kee Safety has grown at an impressive rate across international markets whilst maintaining excellent standards in the quality and reliability of its product range. We believe that the Company is well-positioned to solidify its leading position and gain a greater market share in a sizeable, growing and fragmented industry. We look forward to working in partnership with the current management team as Kee Safety continues to increase its penetration into existing and new markets."
Investcorp acquires Kee Safety Ltd for $370 million
To expand its global electrified powertrain offerings and strengthen its local footprint in China, Magna has entered into a joint-venture agreement with Huayu Automotive Systems Co., Ltd.(HASCO,600741.SH), a subsidiary of SAIC Motor. The JV will initially produce an electric-drive powertrain system for a German automaker. A signing ceremony was held today with executives from both JV partners. Magna designs and manufactures a portfolio of versatile and innovative products that bring power to the wheels of passenger cars and light trucks. For the initial customer order, the JV will leverage Magna's innovative, highly integrated e-drive system with a focus on the production of the system mainly for the Chinese market. Both partners will give the JV full support to develop localized core competencies in terms of market development, R&D, advanced manufacturing and key parts supply such as gearboxes, inverter components and e-motors, which are key to delivering advanced powertrain technologies and a stronger product portfolio to customers. "The new-energy vehicle (NEV) market will continue to grow at a rapid speed in China. With this trend, SAIC Motor is developing the New Four Modernization strategy focusing on car electrification, connectivity, intelligence, and sharing economy," Mr. Chen Zhixin, President of SAIC Motor and Vice Chairman of HASCO, said. "The establishment of the JV, a strong combination of HASCO and Magna's strength to initiate cooperation in NEV electrified powertrain systems, has been a milestone for HASCO to develop its core competencies in the field of key new-energy-related components, as well as a critical measure to strengthen the New Four Modernization strategy for SAIC." "China is the number-one growth market in the world, and they have been clear about their intended leadership in bringing hybrid and electric vehicles to market," said Don Walker, Magna CEO. "Combining strengths with HASCO helps position Magna and the joint venture for future growth and success." Magna possesses the skills and experience to develop and manufacture electrified powertrains. This includes all key components for modern e-drive systems: e-motor, gearbox, inverter and control software. For nearly 10 years, Magna has been supporting customers in the U.S. and Europe from concept to production with products for battery electric and plug-in hybrid vehicles.
Magna Forms E-Powertrain Joint Venture in China
Saint-Gobain announced that the Group had entered into exclusive talks with the founding families and shareholders of Glava to buy their shares. Having received the clearance from the Norwegian Competition Authority, the transaction is now completed. A leading player on the insulation market in Norway, Glava reported sales of over €140 million in 2016. The company has two glass wool plants, at Askim, 55 km from Oslo, and at Stjørdal near Trondheim. It also has workshops producing expanded polystyrene and ceilings. Glava supplies a comprehensive range of insulating products and accessories to its customers. This acquisition enables Saint-Gobain to reinforce its position in the Nordics in line with its strategy.
Saint-Gobain finalizes the acquisition of Glava
Synopsys Acquires Sidense Corporation
Synopsys, Inc., announced that it has acquired Sidense Corporation, a leading provider of one-time programmable (OTP) non-volatile memory (NVM) for automotive, mobile, industrial and Internet of Things (IoT) applications. The acquisition complements Synopsys' existing DesignWare®Multi-Time Programmable (MTP) NVM IP solution with OTP NVM IP in 16-bit to 1.28-Mbit configurations. With this acquisition, Synopsys gains access to proven, market-leading OTP NVM IP in process technologies from 180- to 16‑nm along with a team of highly experienced R&D engineers. The terms of the deal, which is not material to Synopsys financials, have not been disclosed. "Sidense's OTP NVM IP offers designers a secure, area-efficient solution for fuse replacement, secure key storage, device ID, analog trim, and code storage," said Joachim Kunkel, general manager of the Solutions Group at Synopsys. "By adding OTP NVM from Sidense to our DesignWare IP portfolio, Synopsys provides designers with a broader NVM IP solution that offers small area, fast access times and high reliability for their SoC designs." Sidense's embedded one-transistor OTP technology is based on its patented split-channel 1T-Fuse™ bit-cell architecture that provides better yield, higher security, improved reliability and lower overall product cost. Sidense's antifuse-based OTP NVM technology offers ultra-low power, small area NVM IP with read access times as fast as 10 nanoseconds. The OTP NVM IP can be manufactured in standard-logic CMOS fabrication processes and does not require any additional mask layers or process steps. The IP is in high-volume production in automotive, mobile and industrial applications.
Nationwide Boiler Inc.,a leading supplier of temporary and permanent boiler systems, boiler support equipment, and emissions control equipment, has announced the acquisition of Pacific Combustion Engineering / Ponder Burner Company. In their fifty-year history this is Nationwide Boiler's first ever purchase of another company, led by President and CEO, Larry Day, along with the assistance of Vice President & CFO, Michele Tomas, and Director of Operations, Sean McMenamin. The acquisition of Pacific Combustion Engineering / Ponder Burner Company, with headquarters in Washougal, Washington (near Portland, OR), further increases Nationwide Boiler's share in the industrial equipment market and expands the company's coverage in the Pacific Northwest for rentals, sales and service. "The combination of Pacific Combustion Engineering / Ponder Burner Company's highly rated UL508A & 698A panel shop and engineering and fabrication capabilities, paired with Nationwide Boiler's robust product line, will allow us to continue providing customers with the highest quality equipment in the industry," stated Mr. Day. In addition to expanded coverage in the region, the acquisition of Pacific Combustion Engineering / Ponder Burner Company will enhance Nationwide Boiler's product offerings, with the ability to provide control systems across multiple industries that utilize combustion equipment. All panels are fabricated to the highest safety standards, including SIL I-IV, Class I Div 2, NFPA-85/86, IRI, FM and UL. The panel fabrication shop also has the ability to perform Factory Acceptance Testing (FAT). FATs are required by many customers prior to shipment to prove that equipment has the same functionality as indicated in the specification and purchase order. "Most companies grow through acquisitions, so this is a very positive step for Nationwide Boiler in overall business growth and market share. An additional advantage is that Nationwide Boiler will be gaining valuable and talented employees that we have worked with for many years. I am excited by this opportunity and look forward to new growth and success with this venture," stated Mr. Day. Pacific Combustion Engineering / Ponder Burner Company will continue to operate under their current name, as a division of Nationwide Boiler Inc. The division will be managed by Jack Valentine, who has worked closely with Nationwide Boiler for over seventeen years as their primary panel provider. "This was natural for us since we've had a long history of working together," concluded Mr. Day. The integration process has already begun, and it is expected to be a smooth ownership transition.
Nationwide Boiler Inc. Acquires Pacific Combustion Engineering / Ponder Burner Company
Eurofins Digital Testing Acquires U.S.-Based My Eye Media
Eurofins Digital Testing, a global leader in end-to-end quality assurance and testing services, today announced that it has acquired My Eye Media to strengthen its ability to help serve multiplatform TV and video service providers, including studios, programmers, broadcasters, OTT providers and operators around the globe. Financial terms were not disclosed. Eurofins Digital Testing is a leader in end-to-end quality assurance (QA), providing test tools, test services and training to validate digital media services, devices and content for service providers worldwide. It is part of the larger Eurofins Group, a leading provider of multi-industry analytical services, with an international network of 375 laboratories across 41 countries, over 30,000 staff members, and sales of over 2.54 billion euros (approx. 2.98 billion dollars) in 2016. My Eye Media is a leader in quality assurance, technical analysis and testing of digital content for the motion picture industry and is a Netflix preferred vendor. The companies have already started collaborating on the integration of My Eye Media's digital Storefront Testing and Online Retail Monitoring (STORM) platform with Eurofins Digital Testing's suite of products and services aimed at ensuring quality-of-service for service providers. As part of the acquisition, Eurofins Digital Testing gains its first major foothold in the U.S. with offices in Burbank, California and New York, as well as additional locations in Warsaw and Tokyo. Similarly, My Eye Media is now better positioned to continue its global expansion of localized content testing services under the Eurofins Digital Testing umbrella. The company is retaining My Eye Media's team of approximately 80 people, and Michael Kadenacy, CEO and Founder of MyEyeMedia, will remain with the company as President, reporting to Johan Craeybeckx, Business Line Director, Eurofins Digital Testing International. "My Eye Media is a pioneer in addressing the technical intricacies required for testing digital motion picture content," said Johan Craeybeckx, Business Line Director, Eurofins Digital Testing International. "With this acquisition, we will collaborate with My Eye Media to expand our capabilities to meet the evolving needs of studios, OTT providers, cable and satellite operators, and content owners around the world. Michael and his team have built a remarkable company, and we look forward to extending their capabilities in the U.S. and across the globe."
New "Distributed Core" computing model the basis of IoT strategy Artificial Intelligence (AI) and machine learning technology to work in concert with IoT infrastructure to deliver smarter, more predictive systems New Dell Technologies IoT Division to orchestrate development of products and services across Dell Technologies. New IoT specific products, labs and partner program help customers speed implementation of IoT projects Dell Technologies to invest $1B in IoT R&D over next three years Full story Dell Technologies unveiled its Internet of Things (IoT) vision and strategy, a new IoT division as well as new IoT specific products, labs, partner program and consumption models. The announcement underscores Dell Technologies commitment to helping customers realize their digital future by safely navigating the complex and often fragmented IoT landscape. IoT, a New Distributed Model for Computing As more and more customers look to digitally transform their business, a new model of computing is emerging. For the last 15 years the IT industry has seen the rise of Cloud Computing, a highly centralized model for delivering IT services. But in an age where every type of device, from phones to cars to oil rigs to robots to heart monitors are alive and intelligent, there is a requirement for a "distributed core" focused on real time processing of information. These devices simply cannot wait for a response from centralized cloud infrastructure that may be 'seconds' away. Customers have expressed a growing need for one company to pull together complete IoT solutions that can be deployed within their organizations. Dell Technologies' comprehensive approach to IoT is based on leading technology and services and a carefully curated partner ecosystem designed to realize value for customers today and prepare them for the future. New Dell Technologies IoT Division The company's new IoT Division will be led by VMware CTO Ray O'Farrell, and is chartered with orchestrating the development of IoT products and services across the Dell Technologies family. The IoT Solutions Division will combine internally developed technologies with offerings from the vast Dell Technologies ecosystem to deliver complete solutions for the customer.
Frey Farms, commercial grower and shipper of fresh produce throughout the Midwest and Southeast, announced the opening of a cold-pressed processing center on one of their farms located in Poseyville, Indiana. The new 70,000 square-foot facility was designed to produce large batch quantities of cold-pressed juice and puree ingredients. The new facility will add a number of jobs to the Southern Indiana region. Frey Farms is a producer of fresh fruits and vegetables including watermelon, cantaloupe, sweet corn, hard squash, peppers and pumpkins. The Poseyville juicery will now be the company's central location for processing 6,000 gallons of cold-pressed, unpasteurized watermelon juice per day. The company anticipates more than 300 tons of Frey Farms watermelons coming through the facility each week during the season to expand the opportunities in the foodservice industry. Each watermelon undergoes a proprietary process that uses minimal processing techniques to cold extract the juice and chill it to near freezing within minutes. This innovative process helps to maintain superior flavor while retaining its natural color, as well as nutrients. Frey Farms is now applying a successful and effective vertical integration. The Poseyville facility completes all stages of production in-house.
Frey Farms opens Fruit and Vegetable processing facility
Hilton to expand packing capability to New Zealand
Hilton Food Group plc (“Hilton”), the leading specialist international meat packing business, is pleased to announce it is to proceed with plans to expand its packing capability to New Zealand. Hilton will construct a new meat processing facility in Auckland and supply Progressive Enterprises Ltd (“Progressive”), New Zealand’s leading retailer, trading as Countdown Supermarkets. As Progressive Enterprises LTD is also part of the Woolworths Ltd this development further strengthens Hilton’s existing relationship with Woolworths Ltd. The development will take place as an extension of the existing site, and is subject to government approvals and the negotiation and finalisation of construction and tenure agreements. It is proposed that Hilton’s newly formed subsidiary, Hilton Foods New Zealand, will finance the new food packing facility, with commencement of production targeted for 2020. The new facility will be capable of supplying Progressive stores in New Zealand with a range of beef, lamb, pork, chicken and addedvalue products. It is expected that Hilton’s investment in plant and equipment will be approximately NZ $ 54 m.
Lamb Weston Opens Expanded Operations in Washington for $200m
Lamb Weston Holdings, Inc., joined with community and civic leaders today to celebrate the completed expansion of its operations in Richland, WA. The $200 million investment announced in 2016 adds a new processing line to the existing facility, increasing the company’s processing capacity for making frozen french fries. The expansion adds approximately 150 jobs to the local economy. During a special grand opening ceremony, Lamb Weston President and CEO Tom Werner was joined by Washington State Sen. Sharon Brown of Richland, President & CEO of the Tri-Cities Economic Development Council (TRIDEC) Carl Adrian, and Lamb Weston Richland employees to commemorate the occasion. “This expansion allows us to build on our presence here in Richland, WA while increasing our capabilities so we can grow with our customers around the globe,” said Tom Werner, President and CEO of Lamb Weston. “We’re proud to be a part of the community in the Tri-Cities, and we’re especially grateful to our community partners who worked with us to make this expansion a reality.” The 290,000 square foot, state-of-the-art expansion adds a new processing line to the company’s existing facility, increasing production capacity by approximately 300 million pounds annually. More than 600 employees at both the existing facility and expansion will make 600 million pounds of frozen french fries annually.
Neovia S.A.S. to acquire Epicore BioNetworks Inc.
Epicore BioNetworks Inc., and Neovia S.A.S. ("Neovia") jointly announced that Epicore and Neovia have entered into an arrangement agreement Arrangement pursuant to which Neovia will acquire all of the issued and outstanding shares of Epicore on a fully-diluted basis for a price per share of Cdn$1.30, valuing Epicore at approximately Cdn$ 35.6million. The purchase price represents a premium to the closing trading price of the Epicore shares prior to this announcement of 25%. The proposed transaction will be carried out by Plan of Arrangement under the Business Corporations Act (Alberta) and is subject to various customary conditions, including approval by Epicore shareholders holding a minimum of 66⅔% of the Epicore common shares voted in person or by proxy at a meeting of the Epicore shareholders to be held on or about December 13, 2017. The Board of Directors of Epicore, after receipt of a fairness opinion from Crow Mackay, have unanimously approved the entering into of the Arrangement Agreement and will unanimously recommend that Epicore shareholders vote in favor of the transaction. In addition, the terms of the Arrangement Agreement were negotiated and agreed to on behalf of Epicore by an independent committee of its Board of Directors. If the proposed transaction is completed, the shares of Epicore will be delisted from the TSX Venture Exchange. The acquisition of Epicore provides Neovia with a probiotic manufacturing and technical organization. It also strengthens Neovia's presence in Latin America. It is anticipated that there will be positive synergies that will be gained by the combination of the two companies. These areas include R&D, global reach and marketing and expansion of Epicore technologies into new markets and species.
Sanofiis investing €170 million to expand a vaccine manufacturing site in Val de Reuil, France. The expansion further strengthens Sanofi’s position as one of the world’s leading seasonal flu vaccine providers. The new facility will allow Sanofi Pasteur, the Vaccines global business unit of Sanofi, to expand supply of VaxigripTetra® to up to 70 countries in six continents. The new quadrivalent influenza vaccine contains two A strains and two B strains of influenza virus, as per World Health Organization recommendation. “This project brings together the expertise of our people with our leading industrial know-how and illustrates our commitment to manufacturing excellence solutions,” said Philippe Luscan, Executive Vice President, Global Industrial Affairs, Sanofi. “Our investment underlines Sanofi’s intent to strengthen our industrial capacities in France as a major centre of influenza vaccines production for worldwide markets.”
Amneal Pharmaceuticals LLC, and Impax Laboratories, Inc., announced that they have entered into a definitive business combination in an all-stock transaction. As a result of the transaction, Amneal Holdings members will own approximately 75% and Impax shareholders will own approximately 25% of the new company's pro forma shares on an as converted basis. The combined company, to be named Amneal Pharmaceuticals, Inc., will have a robust generics business that will rank as the 5th largest in the United States by gross revenue and a growing, high-margin specialty franchise. The combined company is expected to have 2018 pro forma adjusted EBITDA of approximately $700 million to $750 million, which includes expected significant cost savings within the first full year of close. In addition to its broad existing commercial product portfolio, the combined organization will have a diverse and differentiated pipeline with more than 300 products either filed with the FDA or in active stages of development, a foundation for international expansion with select commercial presence in the United Kingdom and Germany, and cost-efficient global manufacturing and development capabilities in all dosage forms. The transaction is expected to enhance the combined organization's competitive position and allow for continued success in an evolving generics market. "In the 15 years since our family founded Amneal, we have established the company as a leader in the U.S. generic pharmaceuticals industry, and today marks an important milestone in these efforts," said Chirag Patel, Co-Chief Executive Officer and Co-Chairman of Amneal. "This transaction combines the complementary strengths of both Amneal and Impax to create an even stronger company with the diversification, capabilities and resources to deliver enhanced value for patients, new opportunities for our collective employees and increased growth and value creation for shareholders." "We are excited to join with Impax to create one of the most dynamic companies in the pharmaceutical industry," said Chintu Patel, Co-Chief Executive Officer and Co-Chairman of Amneal. "This combination will help us achieve our long-term goals of providing greater access to safe and affordable medicine for people around the world, while also positioning us for continued success."
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AMNEAL & IMPAX TO COMBINE
Sweden running away as Europe’s healthiest nation
Tata Consultancy Services, a leading global IT services, consulting and business solutions organization, annouced new research findings highlighting Sweden’s passion for a healthy lifestyle. It had conducted a study of over 1000 runners in the country to gauge their attitudes and preferences towards running. Sweden is currently ranked by the European Commission as the top country for health and sports activity levels, with 70% of Swedes saying they excercise or play sports once a week, making it the most active nation in the continent. In addition, the new study from TCS shows that one in three swedes have taken up running regularly as a form of exercise. Notably, three quarters (77%) of those Swedes who are runners prefer to go outdoors in nature for their excercise, rather than going to a gym or running in the city. The study also highlights that while 82% of Swedish runners prefer to run alone, nearly half (49%) said that setting goals along with other people, by leveraging technology and wearables, helped their own motivation. These findings come as the world’s largest cross-country race – TCS Lidingöloppet – is set to take place on September 22nd-24th, 2017 in Sweden, where over 15,000 people are expected to turn out from around the world to take part. The event is growing in international stature and also in terms of corporate engagement. In 2016, as part of its initiative to enhance wellness and health in the communities it operates in, TCS had signed on as title sponsor to the TCS Lidingöloppet run. It is also fielding a team of 650 runners at the event this year, comprising its employees and clients, who are executives at some of Sweden’s leading companies. Avinash Limaye, Country Manager, TCS Sweden, commented, “The new research highlights the passion that people in Sweden have for running and maintaining an active lifestyle. With Sweden being the most active nation in Europe, our second year of sponsorship for TCS Lidingöloppet race is a great opportunity to inspire thousands of people towards boosting health and wellbeing – fronts that both Sweden and TCS have taken a leadership position on.” According the European Commission’s Digital Innovation scoreboard, Sweden is also a leader in technology and innovation having ranked second in the overall league table. Building on this appetite for tech and innovation across Sweden, TCS has also launched a new mobile app to allow runners and spectators to track each person’s progress and engage in the race event through their mobile devices.
Highmark Health, Allegheny Health Network to invest more than $1 billion to improve health care quality, access in western PA
Highmark Healthand Allegheny Health Network (AHN) announced today plans to invest an additional $700 million in new facility construction and existing facility expansion and renovation over the next four to five years to further improve access to affordable, high-quality health care services in the western Pennsylvania region. Coupled with $315 million in capital investments announced earlier this year to support the network's cancer and Erie market strategies, the additional projects bring the organization's total commitment to more than $1 billion in new and improved care sites and capabilities. The investments are expected to ultimately create more than 800 new health care jobs in the region. As key components of its strategy, AHN will open a new, 160+ bed, full-service hospital in Pine Township adjacent to its Wexford Health + Wellness Pavilion, while also forming a joint venture with Emerus, the nation's leading developer and operator of neighborhood hospitals, to build multiple additional facilities across the region that will provide unique local access to emergency, primary, and specialty care. The network also plans to further expand and renovate facilities at a number of its existing hospitals, including Forbes, Jefferson, West Penn, and Allegheny General, and will continue to make substantial investments that advance the capabilities of its leading clinical programs in cardiovascular care, women's health, the neurosciences, and orthopedics, among others. "Today's announcement further underscores the magnitude of our commitment to the region and to developing a nationally leading, value-based health care system that is unsurpassed in the quality, accessibility, and affordability of the services it provides," said David Holmberg, Highmark Health President and CEO. "Through our partnership with Emerus and the other significant capital investments planned for AHN, we are building a uniquely patient-centric health care system and taking every step necessary to ensure the network's exceptional care is more readily available to patients and our members in settings close to where they live and work." Through 2016, Highmark Health invested more than $1.4 billion in AHN assets and operations to enhance its clinical capabilities and grow its capacity to provide leading-edge care in the market, bringing the cumulative investment to nearly $2.5 billion through 2022. In June 2017, the network announced plans to invest more than $200 million over the next two years to enhance access to oncology services, including a new academic cancer institute that will be built on the campus of AGH and multiple community-based cancer treatment centers. The organization also is in the midst of a $115 million multi-phased capital investment plan for Saint Vincent Hospital in Erie that includes construction of a new emergency department, a state-of-the-art operating room suite, and a new Women's and Infants Center, among other planned projects.
IHG, (InterContinental Hotels Group)one of the world’s leading hotel companies, announces the opening of the new-build 209-roomHoliday Inn Goiânia hotel. This is IHG’s eighth Holiday Inn property in Brazil and the first IHG hotel in the Midwestern city of Goiânia, located about 130 miles from Brasilia, the nation’s capital. The new hotel is centrally situated near the city’s main thoroughfares and is in walking distance to the 'Feira do Sol' and 'Feira da Lua', banks, the Bougainville Shopping mall and local parks. Gerardo Murray, Regional Vice President of Brands & Marketing, Mexico, Latin America and Caribbean, IHG, said: "We are very pleased to open this hotel in Goiânia and to continue growing the Holiday Inn brand in Brazil. Whether guests are traveling for business or leisure, we are committed to sharing the joy of travel by providing a clean, comfortable and affordable stay to everyone.” Holiday Inn hotels are designed to provide a welcoming and sociable environment for travelers spending time away from home. The hotel’s amenities include wireless high-speed Internet access, a beautiful rooftop pool, fitness center, business center and six modern meeting rooms with a capacity for up to 500 people. The hotel’s restaurant serves both international and regional dishes for breakfast, lunch and dinner, and kids eat free with the purchase of an adult meal. After a long day at work, guests can also enjoy a refreshing drink in the hotel’s Holiday Bar located in the lobby. Owned and managed by SS Hoteis Eireli-ME, the Holiday Inn Goiânia is franchised by an affiliate of IHG and is part of IHG’s diverse family of brands in nearly 100 countries and territories. The Holiday Inn brand opened the doors of its first hotel more than 65 years ago and since then has been making travel more enjoyable for generations of travelers all over the world. Whether on the journey of a lifetime, a family vacation or business, guests know they can expect the contemporary design, modern amenities and warm, welcoming service that distinguish the Holiday Inn brand.
Holiday Inn Goiânia opens in Brazil
Marking its first presence on the Eastern coast of Thailand,The Ritz-Carlton Hotel Company, L.L.C.is pleased to announce the newest addition to its collection of renowned global properties with the opening of The Ritz-Carlton, Koh Samui. Located on the tropical island paradise of Koh Samui on the Gulf of Thailand, The Ritz-Carlton, Koh Samui seamlessly combines the brand’s legendary service with the traditional spirit of Thai hospitality and colorful Samui island life culture to create a unique melting pot of indelible new memories. “Known for its charm and pristine natural beauty, Koh Samui is a favorite destination for travelers. An island sanctuary amid breathtaking and diverse beauty, this resort is an exceptional blend of both The Ritz-Carlton and Thai cultures and fulfills our mission to offer inspiring new memories in sought-after locations,” said Hervé Humler, President and Chief Operations Officer, The Ritz-Carlton Hotel Company, L.L.C. “We are confident that The Ritz-Carlton, Koh Samui will make a valuable contribution to the long-term success of this destination and enhance the memorable travel experience for guests from around the world.” The Ritz-Carlton, Koh Samui offers 175 suites and pool villas nestled amid 58 acres that overlook the turquoise waters of The Gulf of Thailand. Built on the site of a former coconut plantation, the resort pays homage to its past through the extensive use of coconut and other natural materials such as ceramics, touches that imbue a sense of place and help immerse guests in their destination. The oceanfront resort features Spa Village Koh Samui, a 3,800-square-meter haven anchored in the healing culture of the region, complete with eight treatment suites, three massage pavilions, a yoga pavilion, health bar, and a lap pool with intimate cabanas. Additional venues include Shook!, a stylish interactive dining space serving innovative Asian and Western dishes complemented by a superb selection of fine wines; Sea Salt, offering international classics and Thai favorites in a relaxed dining atmosphere; and Tides, an ideal spot for sun-lovers to unwind with a refreshing cocktail from the poolside bar and enjoy a citrus-cured specialty from the cevicheria. With its circular bar and lounge, One Rai offers cocktails and Asian-inspired small bites. Additionally, on select days guests can enjoy Baan Talat, an outdoor food market experience with street food stalls, dancing and crafts.
The Ritz-Carlton, Koh Samui opens capturing the original spirit of Thai Island life
Four Seasons Hotels and Resorts,the world's leading luxury hospitality company, and Jabal Omar Development Company (JODC), a leading developer in the Middle East, announce plans for a new Four Seasons hotel in the Holy City of Makkah (also known as Mecca) as part of the Jabal Omar integrated real estate development. Ideally located adjacent to Al-Masjid Al-Ḥarām (the Grand Mosque) and with direct access and unobstructed views of the Haram, Four Seasons Hotel Makkah will offer the most gracious accommodations in the city. Four Seasons Hotel Makkah will be the company's second location in Saudi Arabia, joining Four Seasons Hotel Riyadh at Kingdom Centre in offering the most luxurious accommodations and personalised service in the region. "As Four Seasons continues to expand its portfolio in the Middle East, we are pleased to partner with JODC to create a fully customised Four Seasons experience in Makkah," says J. Allen Smith, President and CEO, Four Seasons Hotels and Resorts. "Each Four Seasons is reflective of its destination and the people who stay with us, and this project in particular is designed to accommodate the unique needs of those who visit Makkah. This magnificent new building will set the stage for tailored service in a luxurious environment, enhancing the connection to this important place for all who visit." "Four Seasons will be the jewel in the Jabal Omar master development plan," says Yasser Faisal Al-Sharif, CEO of Jabal Omar Development Company. "With our design partners and Four Seasons, we will bring to life a vision for the ultimate hospitality experience to enhance Hajj and Umrah pilgrimages."
Four Seasons and Jabal Omar Development Company to Open New Hotel in Makkah, Saudi Arabia
InterContinental Singapore Robertson Quay unveils New Hotel Concept
InterContinental Hotels Group one of the world’s leading hotel companies, announces the opening of InterContinental Singapore Robertson Quay, the first international luxury hotel brand at The Quayside, Robertson Quay, set to impress with its residential-inspired hotel concept in the city’s most vibrant. Set amidst a dynamic, sophisticated neighbourhood along the Singapore River, known for its dining options and arts houses, the luxury hotel has been carefully curated by world-class designers, architects and culinary purveyors. Located just a few minutes from the CBD, the hotel still maintains a stylish but laid back, relaxed feel in the leafy, upscale neighbourhood of Robertson Quay. The hotel offers 225 luxurious studios and suites, including an expansive Penthouse, which has unparalleled views of both the Singapore River and vibrant city via floor-to-ceiling windows. InterContinental Singapore Robertson Quay is fully equipped for business travellers, with five intimate meeting and event spaces as well as an exclusive 24-hour Club InterContinental lounge. Club guests will enjoy access to tailored and personalised services, including a dedicated team to personalise their stay, private in room or lounge check-in and impressive Club rooms. Quayside Lounge, which is set amongst lush tropical surroundings on level four, offers sophisticated afternoon tea and curated evening cocktails. Guests looking to maintain their wellness routines can look forward to recreational facilities such as the lap pool and 24-hour fitness studio.
Safety, Skills and Infrastructure Key to Realizing India’s Tourism Potential; Biggest Aviation Market by 2030
New report by the World Economic Forum, Incredible India 2.0 – India’s $20 Billion Tourism Opportunity, highlights India’s enormous potential to develop its tourism and aviation industry Report builds on the Forum’s Global Travel & Tourism 2017 Competitiveness Index, which finds India to be much more welcoming to tourists than in the past The report was launched at the India Economic Summit, taking place 4-6 October, in New Delhi, India. India is now one of the fastest-growing aviation markets in the world, with domestic demand reaching nearly 100 million passengers. Yet, annual international arrivals have remained relatively low, at 9 million. Against these findings, Indian policy-makers and industry experts have joined forces to achieve the objective of welcoming over 15 million foreign tourists annually by 2025 and becoming the world’s largest aviation market by 2030. A new report published by the World Economic Forum, Incredible India 2.0 – India’s $20 Billion Tourism Opportunity, estimates that, with a growth in international arrivals to 20 million a year in India, the country’s tourism sector could incrementally grow by more than $19 billion and lead to the creation of up to 1 million additional jobs. “The travel and tourism industry has the potential to make a real difference in people’s lives by driving growth, creating jobs, and fostering development and tolerance,” said Tiffany Misrahi, Community Lead of the Aviation, Travel and Tourism Industries at the World Economic Forum. “India has tremendous untapped potential, and has the opportunity to reach its goals should it prioritize the industry and focus on implementing policies and solutions that build demand and create adequate supply.”
A Memorandum of Understanding (MOU) was signed between the World Bank Group and the Arab Coordination Group (which includes bilateral and multilateral Arab development institutions; namely: the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Kuwait Fund for Arab Economic Development, the Qatar Development Fund, the Saudi Fund for Development, the OPEC Fund for International Development and the Islamic Development Bank Group), to enhance coordination for more effective assistance to developing countries. The agreement paves the way for joint investment financing, policy dialogue, analytical work, and outreach to stakeholders in Africa and the Middle East and North Africa regions. The MOU also includes commitments to share expertise and resources. As part of the MOU, all parties will join efforts in areas including energy, agriculture and food security, water, and the financial sector. This partnership also supports the development of the Pan-Arab Regional Energy Trade Platform Initiative through the development of regional governance structures, and investments in necessary infrastructure. “Both the World Bank and the Arab Coordination Group institutions are natural strategic partners, having a long record of supporting development,” said Hafez Ghanem, World Bank Vice President for Middle East and North Africa. “This strategic partnership is aimed at building synergies and closer collaboration to help achieve stronger and longer-lasting impact”.
World Bank and the Arab Coordination Group—Fostering Partnership for Better Results
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