Hindalco to acquire Aleris
for US$ 2.58 bn
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
LifePoint Health to merge with RCCH HealthCare in a US$ 5.6 billion deal
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SK Hynix to construct
US$ 3.1 bn FAB in Icheon
Ford to invest US$ 4 bn in Autonomous Vehicle by 2023
IHG brings Kimpton Hotels & Restaurants to Germany
Syntel to be acquired by Atos S.E. in a US$ 3.5 bn deal
Syntel, Inc., a leading global provider of integrated information technology and knowledge process services, announced that it has entered into a definitive merger agreement with Atos S.E. under which Atos will acquire all outstanding shares of Syntel in an all-cash transaction valued at approximately $3.57 billion, including Syntel’s net debt. The transaction was unanimously approved by the full Board of Directors of Syntel based on the unanimous recommendation of a Special Committee of the Board.
Bharat Desai, co-chairman of Syntel said: "This is a very exciting development for Syntel. The Syntel board is committed to maximizing shareholder value and believes that the agreement with Atos achieves that objective and delivers a win-win proposition to our customers and employees.
Our focus at Syntel is to help customers transform and succeed in the digital economy. Since its founding, our “Customer for Life” ethos has guided our investments in high-impact, domain-led services and intellectual property.
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Hitachi Vantara, a wholly owned subsidiary of Hitachi, Ltd. announced its intent to acquire REAN Cloud LLC, a global cloud systems integrator, managed services provider and solutions developer of cloud-native applications across big data, machine learning and emerging internet of things (IoT) spaces.
Founded in 2013, REAN Cloud has quickly been recognized as a leading cloud systems integrator, earning the status of AWS Premier Consulting Partner and Microsoft Azure Silver Partner. REAN Cloud's deep hyperscale expertise and industry- leading infrastructure-as-code REAN Cloud Accelerator Platform enable highly automated, intelligent, scalable and secure cloud adoption and managed services. These services focus on delivering client business outcomes with significantly faster realization of business value. With 47Lining's capabilities (acquired by REAN Cloud last year), REAN Cloud also delivers customized solutions for IoT analytics, predictive analytics and machine learning, allowing customers to more quickly unlock new business opportunities.
Hitachi Vantara to acquire REAN Cloud
McAfee, the device-to-cloud cybersecurity company, announced an extension of its collaboration with LG to pre-load McAfee Safe Family on the LG G7 ThinQ, Q7, Q7+, and Q Stylus in 32 European countries. Additionally, all subsequently released LG smartphones will have McAfee Safe Family pre-loaded. With this partnership, LG smartphone users will benefit from robust parental controls that will help provide parents with the confidence they need to better manage their children’s online experience.
According to recent McAfee research, 80% of parents say they’re concerned about who their child interacts with online, with 34% having discovered that their child has visited an inappropriate website on their device. These findings, coupled with today’s ubiquitous mobile device usage, underscore the need to provide parents with a simple solution to help manage their children’s behavior online.
McAfee and LG Collaborate for LG Smartphone security
Alibaba Cloud, the cloud computing arm of Alibaba Group, announced the launch of their second availability zone in Malaysia to expand its cloud footprint and bolster its cloud capacity, serving increasing customer demand locally and in the region. The new zone complements Availability Zone A which was launched last year in heightening cloud security and ensuring business continuity through resilient cloud infrastructure.
Alibaba Cloud will also continue to invest in Malaysia by setting up the first cloud based Anti-DDoS Scrubbing Center in August. The center will mitigate risks and offer customers the highest level of protection against stronger DDoS attacks. The new center will feature a variety of security functions including Anti-DDoS Pro, a service that defends against all types of DDoS attacks.
Alibaba Cloud continues to invest in Malaysia
Ford to invest $4 billion in Autonomous Vehicles by 2023
Ford Motor Company announced it has created Ford Autonomous Vehicles LLC, a new organization charged with accelerating its AV business to capitalize on market opportunities. The company also detailed key organizational changes designed to improve its operational fitness and drive profitable growth.
The company is organizing its self-driving business into Ford Autonomous Vehicles LLC, which will include Ford’s self-driving systems integration, autonomous vehicle research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy and business development teams.
The new LLC, which is structured to take on third party investment, will be primarily based at Ford’s Corktown campus in Detroit and will hold Ford’s ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development. Ford expects to invest $4 billion in its AV efforts through 2023, including its $1 billion investment in Argo AI.
SK Hynix to construct a $3.1 billion Semiconductor Fabrication Plant in Icheon
SK Hynix Inc., announced that the Company will construct a new semiconductor fabrication plant (or ‘the FAB’) at its headquarters in Icheon, Gyeonggi-do, to respond to growing demand for memory chips and to secure a future growth engine.
Construction on the 53,000m2 site in Icheon will begin late 2018 and is slated to be completed in October 2020. SK Hynix will invest 3.5 trillion won in the FAB. The production portfolio of the FAB shall be decided considering future market conditions as well as the Company’s technology capability.
SK Hynix continues to expand its production capacity with the M14 in Icheon as well as the construction of the new FAB in Cheongju and the expansion of the cleanroom space at Wuxi FAB, which are expected to be completed in the second half of this year. Nevertheless, it is essential to make additional investments in order to meet growing memory demand. As the dimensions of semiconductor manufacturing equipment are getting larger, it is also important to secure enough cleanroom space in advance. All these factors have contributed to the Company’s investment plan.
Hindalco to acquire Aleris at an EV of US$ 2.58 Billion
Hindalco’s wholly owned subsidiary, Novelis Inc, announced signing of a definitive agreement to purchase Aleris Corporation, a global aluminium rolled products major, headquartered in the United States, for US$ 2.58 billion in a debt finance deal.
Says Mr. Kumar Mangalam Birla, Chairman, Hindalco, “Over a decade ago, with the Novelis acquisition Hindalco leap frogged into the global arena of the aluminium industry. It made Hindalco a global multinational and brought with it top-tier international customers and best-in-class capabilities in aluminium value-added products. Since then, Novelis has grown significantly and continues to be the global leader in its markets. The acquisition of Aleris is the next phase of our aluminium value added products growth strategy.
This will solidify our position as the world’s no.1 aluminium value-added products player. Post this acquisition, we are well placed to serve our customers across geographies in automotive and now the high-end aerospace segments. We will have presence throughout the downstream aluminium value chain in Asia, positioning us for future growth in the region. This also enhances the access to world- class manufacturing capabilities for our existing Indian aluminium value added operations and accelerates our path to making world-class products in India.”
LCY Chemical Corp. and global investment firm KKR announced the signing of a share exchange agreement for a consortium led by KKR to acquire all of the issued and outstanding shares of LCY for TWD 56 per share in cash. The transaction, which has been unanimously approved by the board of directors of LCY upon the recommendation of its Audit Committee comprising independent directors, represents a total market capitalization of approximately TWD 47.8 billion (USD 1.56 billion).
Mr. TH Hong, Chairman of LCY, said, "The proposed transaction delivers meaningful and immediate value to our shareholders, while also providing greater access to capital, operational resources and the time horizon needed to execute a strategy to drive long-term, sustainable value creation. KKR is the ideal partner to help us build on our 50-year track record of producing high-quality chemical products for customers worldwide and take LCY to its next level of growth given KKR's focus on responsible business and operational excellence. KKR's decision to partner with us is a testament to the innovative and talented team we have built in Taiwan- and around the world - and we look forward to working with them to build an even stronger company."
KKR Consortium to buy Taiwanese chemicals firm LCY for $1.56 billion
Petron to expand its Limay Refinery with technologies from Honeywell
Honeywell announced that Petron Corporation will expand and upgrade its Limay, Bataan refinery in the Philippines with technologies from Honeywell UOP. When the project is completed, the refinery will produce 75,000 barrels per day of refined fuels and 1 million tons per annum of aromatics, increasing its capacity by 55 percent.
Honeywell UOP will provide the basic engineering design, licensing and services for a condensate fractionation unit, naphtha hydrotreater, and UOP CCR Platforming™, Sulfolane™, LPG and kerosene Merox™ and distillate Unionfining™ units. These technologies will enable Petron to meet growing domestic demand for motor fuels by upgrading 100,000 barrels per day of condensates and light crude oils to aromatics and automotive fuels.
KPS Capital Partners, LP announced that it has signed a definitive agreement, through an affiliate, to sell Expera Specialty Solutions, LLC to Ahlstrom-Munksjö Oyj , of Finland, a global leader in fiber-based materials, for $615 million.
Expera is a leading North American manufacturer of specialty paper products for the industrial & technical, food and pressure-sensitive release liner segments. Headquartered in Wisconsin, Expera employs approximately 1,800 people. KPS created Expera in June 2013 by completing two discrete and highly synergistic acquisitions: the technical and specialty paper businesses of Wausau Paper Corp. and Packaging Dynamics Corporation, respectively.
Raquel Palmer, a Partner of KPS, said, “The success of our investment in Expera demonstrates KPS’ ability to see value where others do not, to buy right and to make businesses better. KPS, in partnership with management, created one of the largest specialty paper companies in the world by successfully integrating the acquisition of two distinct businesses, achieving meaningful post-merger synergies, investing in new manufacturing capabilities, funding innovation, new product development and technology, and implementing a culture of continuous improvement. Expera is another example of KPS’ investment strategy achieving success across economic cycles, geographies and industries, and we take immense pride in the Company’s accomplishments.”
KPS Capital Partners to sell Expera Specialty Solutions to Ahlstrom-Munksjö Oyj
for $615 million
Tint World Automotive Styling Centers™, a leading auto accessory and window tinting franchise, has entered the growing United Arab Emirates market with its first store in Dubai, owned and operated by entrepreneur and education advocate Khalil Hijazi.
Hijazi and Tint World® CEO Charles J. Bonfiglio connected during a long late-night Skype conversation in which they discussed cars, family, entrepreneurship, and a shared interest in introducing the Tint World® brand to Dubai. Their friendship ultimately led to Hijazi's acquisition of a master franchise license for the UAE and plans to open as many as six stores in the country.
"Khalil's background as an entrepreneur and Dubai's passion for cars make this a perfect fit for the Tint World® family," Bonfiglio said. "He and his family have a lot of business experience in the region, and they have the knowledge and financial resources necessary to enter a new, competitive market. This is an important and exciting new phase for the Tint World® brand, and we wouldn't be making this leap without a partner we trust."
Hijazi attributes his entrepreneurial vision to his family, which instilled a sense of enterprise as well as a grounding in faith and ethics. Hijazi also manages his family's businesses in education, automotive, construction, and the medical field and teaches a class on entrepreneurship for high-school students.
Tint World enters UAE market with new location in Dubai
IntegraONE acquires Lightspeed Technologies, of Kingston, PA
IntegraONE, the regional leader in technology infrastructure solutions and managed services, is pleased to announce its acquisition of Lightspeed Technologies, of Kingston, PA. This acquisition enables IntegraONE to scale its offerings in the region, bring talented engineering resources with compatible certifications onto its team, and increase service efficiency (by placing its service teams closer to the client base).
This is the fourth acquisition by IntegraONE, which previously acquired Classic Networking, Inc. of Mechanicsburg, PA in 2010, 7 Layer Solutions, Inc. of Saxonburg, PA in 2012, and Quatro Systems Inc. of Horsham, PA in 2017.
Marty Andrefski, President of IntegraONE, describes the important territory, engineering, and scalability-related synergies realized in this acquisition:
The Bell Food Group invests in cultured meat
The Bell Food Group is investing in the Dutch start-up Mosa Meat, the world's leading company for cultured beef. The objective of the upcoming development phase is to successfully bring cultured beef to market by 2021. This will provide an alternative to consumers who are re-evaluating their consumption of meat for ethical reasons and make it possible to meet the growing demand for meat in a sustainable manner.
The Bell Food Group is participating in Mosa Meat's next financing round with EUR 2 million. Mosa Meat with its registered office in Maastricht in the Netherlands is the world's leading company for cultured beef. Mosa Meat has developed a technology for producing cultured beef directly from animal cells. The co-founder and head of research at the company is Professor Mark Post of the University of Maastricht, who is considered to be the global pioneer in the production of cultured meat. For Mark Post, the collaboration with the Bell Food Group is another step forward in shaping the future of alternative meat production.
True Family Enterprises and its wholly owned subsidiary True Food Innovations (TFI), a multifaceted fresh food technology, CPG and manufacturing company, has acquired the assets of the Los Angeles based meal kit company Chef'd, it was announced by Robert T. Jones, President of True Food Innovations.
Chef'd recently ceased operations citing funding and expense issues. The transaction was completed between True Food Innovations and the company's lender. Privately held and financed True Food Innovations acquired all Chef'd assets, including plant, property, equipment, brand and intangible assets for an undisclosed amount, and plans to consolidate these assets into the existing businesses of True Food Innovations.
True Food Innovations acquires assets Of Meal Kit company Chef'd
Toshiba Memory Corporation starts construction of the First Fabrication Facility in Kitakami City, Japan
Toshiba Memory Corporation, the world leader in memory solutions, held a groundbreaking ceremony for the first semiconductor fabrication facility (fab), called K1, in Kitakami, Iwate prefecture, in northeastern Japan. On its completion in autumn 2019, the facility will be one of the most advanced manufacturing operations in the world, dedicated to production of 3D flash memory.
Toshiba Memory continues to advance technologies in flash memory. The company is now leading the way forward with advances in its BiCS FLASH™, its proprietary 3D flash memory.
Demand for 3D flash memory is increasing significantly on fast growing demand for enterprise servers, datacenters and smartphones. Toshiba memory expects continued strong growth in the mid and long term. The new facility will make a major contribution to business competitiveness in corporation with Yokkaichi operations.
SN Power AS, a Norwegian hydropower company owning and constructing hydropower in emerging markets with focus on Africa and Asia, and SG Bujagali Holdings, Ltd ("SGBH"), a Sithe Global company indirectly owned by investment funds managed by affiliates of Blackstone, today announced the completion of the acquisition of SGBH's partial interest by SN Power in Bujagali Energy Limited ("BEL"), owner of the Bujagali Hydropower Project ("Bujagali"). The roughly two-thirds stake in the project has been acquired for approximately USD $277 million.
Bujagali, a 250 MW hydropower facility located near Jinja, Uganda will continue to be operated by BEL. BEL's other shareholders are affiliates of the Aga Khan Fund for Economic Development ("AKFED") and the Government of Uganda("GOU"), both of which will retain their interests in Bujagali. SN Power will, with their experience from operating other hydropower projects around the world, contribute to an effective operation of Bujagali.
The investment by SN Power follows the project's successful refinancing with its lenders – including development finance institutions such as the International Finance Corporation and African Development Bank – which reduced Bujagali Energy Limited's annual debt-servicing payments, lowering the tariff of electricity produced by the hydropower plant.
SN Power completes investment in Bujagali Hydropower Project
IFC and Citibank provides
$1.2 bn to support trades in Emerging Market
IFC, a member of the World Bank Group, and Citi announced the signing of a $1.2 billion risk-sharing facility to help stimulate the growth of trade in emerging markets and to support economic development. This initiative will work in partnership with global and regional banks with the goal of expanding the availability of trade at a time of reported global scarcity.
The signing marks the extension of an existing facility under IFC’s Global Trade Liquidity Program, first launched by IFC and Citi in 2009.
Since its inception, these collaborative efforts have financed a total trade volume of US$29 billion, with around $4.5 billion in IDA countries (International Development Association, the World Bank Group fund for the world’s poorest countries), and $11.1billion in low income and lower middle-income countries. This long-standing partnership has facilitated financing for 4,092 trade transactions through 163 banks in 46 emerging market countries, of which 25 are low and lower middle-income countries.
LifePoint Health to merge with RCCH HealthCare in a $5.6 billion deal
LifePoint Health, Inc. and RCCH HealthCare Partners (“RCCH”), which is owned by certain funds managed by affiliates of Apollo Global Management, LLC announced that they have entered into a definitive agreement to merge. Upon closing of the transaction, LifePoint shareholders will receive approximately $5.6 billion. The price represents a premium of approximately 36% to LifePoint’s closing share price on July 20, 2018, the last trading day prior to the announcement.
Upon completion of the transaction, the combined company will be privately held, operate under the LifePoint Health name and be led by William F. Carpenter III, chairman and chief executive officer of LifePoint.
LifePoint and RCCH are among the nation’s leading healthcare providers, owning and operating networks of hospitals, post-acute service providers and outpatient centers that are integral to their communities. Both companies share a commitment to providing high quality care to regional markets. The combination of these two companies will create an even stronger healthcare provider with pro forma 2017 revenues of more than $8 billion as well as 7,000 affiliated physicians, approximately 60,000 employees and more than 12,000 licensed beds. Following the close of the transaction, LifePoint will operate a diversified portfolio of healthcare assets, including 84 non-urban hospitals in 30 states, regional health systems, physician practices, outpatient centers and post-acute service providers, with leading market positions as the sole community healthcare provider in the majority of the regions it serves. The combined company intends to maintain strategic partnerships with well-known leaders in patient safety and clinical quality to bring leading practices in quality and patient safety to each of its communities.
Welltower Inc., a leading global provider of healthcare infrastructure, and ProMedica, a mission-based, not-for-profit healthcare system focused on improving health and well-being across the care continuum, announced the successful close of their joint venture acquisition of Quality Care Properties, Inc. (NYSE: QCP) and its principal tenants, HCR ManorCare and Arden Courts, the nation's second largest provider of post-acute services and long-term care.
"Together with ProMedica, one of the largest and most innovative health systems in the U.S., this acquisition of HCR ManorCare provides us the platform to think differently about where healthcare services are delivered, particularly with respect to the aging of the population," said Tom DeRosa, Chief Executive Officer of Welltower. "The close of this transformative joint venture further validates our health system strategy through which we leverage high-quality real estate to optimize care delivery at lower costs sites of care while remaining focused on improved outcomes."
Welltower and ProMedica complets acquisition of QCP and HCR ManorCare
for $4.4 billion
Boston Scientific to acquire Claret Medical, Inc.
Boston Scientific Corporation announced it has signed an agreement to acquire Claret Medical, Inc., a privately-held company that has developed and commercialized the Sentinel Cerebral Embolic Protection System. The device is used to protect the brain during certain interventional procedures, predominately in patients undergoing transcatheter aortic valve replacement (TAVR). The transaction price consists of $220 million in up-front cash, as well as a potential reimbursement-based milestone payment of up to $50 million.
The Sentinel System – which received CE Mark in 2014 and FDA clearance in 2017 – is the only device cleared to protect patients against the risk of stroke during TAVR, a minimally-invasive procedure to replace the aortic valve in patients with severe aortic stenosis. Embolic debris such as calcium or tissue can break loose during the procedure, travel through the bloodstream towards the brain and potentially cause neurological and neurocognitive damage. Recent studies have estimated approximately four percent of patients experience a clinically-apparent stroke within 30 days of a TAVR procedure.1,2,3,4,5,6
Hampton by Hilton Debuts First Hotel Featuring New Prototype Elements in Baltimore, Maryland
Hilton's Hampton by Hilton, the global upper mid-scale brand known for its commitment to providing authentic service and great value, announced the opening of its newest property, Hampton Inn by Hilton Baltimore Bayview Campus in Baltimore, Maryland. This 115-room hotel is an early adopter of Hampton’s new innovative design and the first to incorporate features of the brand’s new prototype.
The hotel offers travelers the confidence of a seamless stay with its 100% Hampton Guarantee®, promising value-focused amenities and a technology-enabled environment that gives real travelers the convenience they want and need.
“As the first hotel to integrate elements of Hampton by Hilton’s new North America prototype we are proud to provide guests a property that feels modern, yet is built on the successful tradition of the Hampton brand,” said Brian Norris, President and CEO of The Cherry Cove Group. “We know our guests will enjoy the hotel’s intuitive design, inviting atmosphere and quality accommodations, emphasizing relaxation and rejuvenation, all backed by the brand’s industry-first satisfaction guarantee.”
InterContinental Hotels Group (IHG®), one of the world’s leading hotel companies, will be bringing its rapidly expanding Kimpton Hotels & Restaurants brand to Germany in 2023 with the opening of Kimpton Frankfurt.
Set in a listed building of Junghofstrasse in Frankfurt’s city centre, the luxury boutique hotel will feature 155 rooms, two large meeting rooms and an onsite gym. In addition to the hotel’s signature restaurant, there are also plans for a sky-bar and restaurant on the roof terrace, where guests will be able to enjoy an unrivalled skyline view of the city. The classic 1950s lobby will serve as the main entrance to the hotel.
Kimpton Frankfurt is part of Frankfurt’s most pioneering development project; FOUR Frankfurt, which is led by highly-regarded developer Groß & Partner. FOUR Frankfurt is a unique high-rise in the middle of the central banking district which features office, residential and retail space in a prime city centre location. The mixed-use project, which highlights innovative and sustainable design by UNStudio architects, will be home to 5,000 people for both business and residential purposes.
IHG celebrates milestone of 100 Holiday Inn Express hotels in Canada
InterContinental Hotels Group (IHG®), one of the world’s leading hotel companies, announces that it has crossed the milestone of 100 open Holiday Inn Express® hotels in Canada, with the opening of theHoliday Inn Express & Suites Trois-Rivières in Quebec. Located at 2000 rue des Grands-Marchés in Trois-Rivières, Quebec, the 111-room hotel is owned by Groupe Robin.
On the heels of this 100th hotel milestone are three additional openings for the brand in Canada: Holiday Inn Express & Suites Brantford, Holiday Inn Express & Suites Kelowna - East, and Holiday Inn Express & Suites Moncton. These openings further demonstrate the brand’s rapid growth throughout IHG’s 56-year history in Canada.
Compared to the industry average, the Holiday Inn Express brand has led the way in terms of its growth rate and footprint in Canada. With 103 open hotels and 24 additional hotels in the development pipeline, Holiday Inn Express properties account for more than 56 per cent of IHG’s Canadian portfolio – which is more than double the number of open hotels than the next leading brand in the segment.
Hotel Indigo to make its New Zealand debut in Auckland from 2021
Auckland will welcome New Zealand’s first Hotel Indigo to the neighbourhood in 2021, with IHG signing an agreement with Ninety Four Feet, an Australasian property development, investment, and construction company, to open Hotel Indigo Auckland.
Uniquely, no two Hotel Indigo properties are the same, with each drawing on the story of its local area to inspire every aspect of the hotel to help guests feel part of the destination. The “City of Sails” will set the backdrop for this boutique hotel, drawing inspiration from local artists for its design, service, amenities, food and beverages.
The 225-room hotel will be part of a mixed-use development in a coveted Auckland Central location, including food & beverage and residential components that will create their own ‘neighbourhood story’. The new build development will be among Auckland’s tallest buildings, maintaining the façade of the original historic building with a new world-class hotel blended elegantly around it.
IHG expands in Australia with signing of Hayman Island, by InterContinental
The Whitsunday Islands will welcome a new era of luxury in 2019 with the signing of a management agreement that will see IHG take over management of Hayman Island, rebranding it as Hayman Island, by InterContinental.
Hayman Island, by InterContinental will be an oasis at the northernmost point in the Whitsunday Islands that shows off the best of the InterContinental brand when it opens in 2019, following significant investment to refurbish the product.
The 166-room hotel is the only property on the 400-hectare island and will showcase world-class facilities, rooms and suites in one of the world’s most unique locations, accessible via Hamilton Island and then by either luxury vessel or helicopter. In addition to the hotel, Mulpha Australia Limited will offer a bespoke collection of homes for sale to those who want to own a piece of heaven on Hayman Island.
The landmark agreement with Mulpha Australia Limited also sees IHG continue with a long-term agreement to manage both InterContinental Sydney and InterContinental Sanctuary Cove Resort.
Real Estate Private Equity Firm Gaw Capital Partners announced that it has acquired 50 percent of Hospes Hotel Group's shares through its European Hospitality Fund I managed by GCP Hospitality, Spain's leading boutique hotel brand, whose total value is estimated at 125 million euros. To this end, the company set up a joint venture with the Spanish investment company Omega Capital.
The Hospes Hotel Group is a highly respected brand in Spain with 10 hotel complexes. However, the group not only finds recognition as a highly acclaimed brand, but also as the operator of luxurious and traditional boutique hotels.
Each of these hotels has been designed with great craftsmanship and brings together traditional elements, design, local flavor and technology.
Hospes luxury boutique hotels are located in several prime locations throughout Spain, including Madrid , Alicante, Granada, Valencia , Mallorca, Cordoba , Seville , Caceres and Salamanca . Each facility is close to some of Spain's best known historical sites, each designed by renowned and well-known architects, creating their own unique atmosphere and unique style. The hotel amenities, such as bars and restaurants, wellness centers and recreational areas, are rated 5 stars.
GCP Hospitality expands in Europe through JV with Omega Capital
Kordsa Acquires Fabric Development Inc and Textile Products Inc in the US
Reinforcement technologies’ leader Kordsa, after expanding its lines of business to composite technologies in 2016, acquired Fabric Development Inc (FDI) and Textile Products Inc. (TPI), which provide advanced composite materials to the commercial aviation industry, with an investment of approximately USD 100 million. With these acquisitions Kordsa aims to follow the same path that led to leadership in tire reinforcement technologies to build a 2nd Kordsa in composite technologies as well.
Kordsa continues its organic growth with R&D and technology investments while seeking for inorganic growth opportunities in composite business globally. Recently, Kordsa announced the acquisition of Fabric Development Inc. (FDI) and Textile Products Inc. (TPI), which provide advanced composite materials to the commercial aviation industry, with an investment of USD 100 million. Kordsa sees this opportunity as a very important step towards reinforcing its composite market position in the US as well as becoming a strong player in the growing aviation industry supply chain.
Kordsa acquires Fabric Development Inc and Textile Products Inc in the US
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