Radisson Hotel expands in Africa with of 10 new hotels
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
01 - 06 October 2018
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
Honda to invest US$ 2.7 bn in GM's self-driving car unit
Mercedes-Benz starts construction of US$ 1 bn battery factory in USA
Husky Energy proposes to acquire MEG Energy for US$ 6.4 bn
Walmart announces the acquisition of ELOQUII
Maple Leaf to acquire VIAU Foods
Honda to invest $2.75 billion in GM's self-driving car unit
ATSG to acquire US passenger carrier Omni Air International for $845 mn
Husky Energy proposes to acquire MEG Energy for $6.4 billion
Brandwatch & Crimson Hexagon Merge
Palo Alto Networks intent to acquire RedLock
Oman Oil, Gulf Energy sign deal for 326 MW Duqm Power Project
Naturgy starts the construction of two new photovoltaic plants in Ciudad, Spain
Equinix to open second Data Center in Sofia Bulgaria
Rio, Mitsui and Nippon Steel & Sumitomo Metal to invest $1.6 bn in Australia
Walmart announces the acquisition of ELOQUII
Cognizant to acquire digital engineering leader Softvision
Novanta acquires remaining Equity Interest in Laser Quantum
Arrowhead enters $3.7 billion collaboration agreements with Janssen
Choice Hotels to Develop New Cambria Hotel in Austin, Texas, Tech Corridor
Ajinomoto Althea and OmniChem to form Ajinomoto Bio-Pharma
Swiss-based Datwyler opens $100mn, Delaware factory
Radission Blu opens in Trabzon, Turkey
Radission Hotel expands in Africa with of 10 new hotels
Maple Leaf Foods to acquire VIAU Foods
Country Inn & Suites by Radisson opens in front Atkinson, Wisconsin
Arla Foods and Foremost Farms USA to explore Strategic Partnership
Amyris signs supply and distribution agreement with ASR Group
Read article on globalfdi.net
The investment of billions of US-Dollars in the U.S. car production of Mercedes-Benz is paying off: The first all new Mercedes-Benz GLE which is based on a completely new SUV platform, left the production lines bringing a new driver experience to our customers worldwide. A groundbreaking ceremony marks the start of the construction of a new battery factory. The factory will be built near the vehicle production site in Tuscaloosa providing batteries for future electric SUV under the product and technology brand EQ.
Markus Schäfer, Member of the Divisional Board of Mercedes-Benz Cars, Production and Supply Chain, attended the ceremony: "The widely export oriented Mercedes-Benz plant in Tuscaloosa is a high-tech production facility with a successful history and an exciting future in terms of our brand in the United States. We aim to play a pioneering role in the development of e-mobility and are well prepared to accomplish this mission. One year ago, we have announced $1 billion investment in Tuscaloosa mostly for the production of electric SUVs and a battery plant. We are bringing electric mobility for Mercedes-Benz to the United States. Around the globe, we are preparing six sites for production of EQ models and our battery network will consist of eight factories."
The groundbreaking ceremony took place in the presence of Jason Hoff, President and CEO of Mercedes-Benz U.S International, the Governor of Alabama Kay Ivey and other distinguished regional and international guests at its location in Bibb County, Alabama. The new production site for batteries - along with the new Consolidation Center - is located seven miles from the Mercedes-Benz Cars vehicle production site in Tuscaloosa. The Consolidation Center, also announced as part of the 2017 investment announcement, will consist of three major areas, including the body parts preparation area, the assembly parts preparation area and the empties storage. It is expected to be operational in 2019.
Cruise and General Motors announced that they have joined forces with Honda to pursue the shared goal of transforming mobility through the large-scale deployment of autonomous vehicle technology.
Honda will work jointly with Cruise and General Motors to fund and develop a purpose-built autonomous vehicle for Cruise that can serve a wide variety of use cases and be manufactured at high volume for global deployment. In addition, Cruise, General Motors and Honda will explore global opportunities for commercial deployment of the Cruise network.
Honda will contribute approximately $2 billion over 12 years to these initiatives, which, together with a $750 million equity investment in Cruise, brings its total commitment to the project to $2.75 billion.
In addition to the recently announced SoftBank investments, this transaction brings the post-money valuation of Cruise to $14.6 billion.
"This is the logical next step in General Motors and Honda's relationship, given our joint work on electric vehicles, and our close integration with Cruise," said General Motors Chairman and CEO Mary Barra. "Together, we can provide Cruise with the world's best design, engineering and manufacturing expertise, and global reach to establish them as the leader in autonomous vehicle technology – while they move to deploy self-driving vehicles at scale."
"Honda chose to collaborate with Cruise and General Motors based on their leadership in autonomous and electric vehicle technology and our shared vision of a zero-emissions and zero-collision world," said Honda Executive Vice President and Representative Director COO Seiji Kuraishi. "We will complement their strengths through our expertise in space efficiency and design to develop the most desirable and effective shared autonomous vehicle."
Honda to invest US$ 2.7 bn in GM's self-driving car unit
Rio Tinto, Mitsui and Nippon Steel & Sumitomo to invest US$ 1.6 bn in Australia
Rio Tinto, together with joint venture partners Mitsui and Nippon Steel & Sumitomo Metal, have approved an investment of $1.55 billion to sustain production capacity at two projects which form part of the Robe River Joint Venture in the Pilbara region of Western Australia.
Subject to government and environmental approvals, construction of both projects is expected to start next year with an estimated 1,200 jobs created during this phase. First ore is currently anticipated from 2021. These investments will also provide significant opportunities for local businesses as part of Rio Tinto's commitment to local procurement and supporting WA businesses.
Once operational, both projects will feature the latest technology with 34 existing haul trucks to be retrofitted with Autonomous Haulage System (AHS) technology, delivering safety and productivity gains to the business.
Rio Tinto Iron Ore chief executive Chris Salisbury said "The development at West Angelas will help sustain production of the Pilbara Blend, the industry’s benchmark premium iron ore product, while the additional Robe Valley deposits will enable us to continue to provide a highly valued product to our long-term customers across Asia."
Naturgy starts the construction of two new photovoltaic plants in Ciudad Real, Spain
These two facilities are part of the project of three plants that the company promotes in the town of Porzuna, and will involve a global investment of approximately 100 million euros.
The plants will produce 270 GWh annually, equivalent to the annual electricity consumption of 108,000 homes, and during its different phases will generate about 200 jobs. They will contribute to reducing around 240,000 tons of CO 2 per year, in addition to other polluting emissions.
Naturgy has started the construction of Picón I and Picón II, two new solar photovoltaic power plants in the province of Ciudad Real, specifically in Porzuna, of the three that are part of its project in this town. These are installations of 50 MWp peak power each, composed of 151,452 modules.
The investment to be made by Naturgy in all these plants will be approximately 100 million euros and will allow the creation of about 200 jobs between the construction, operation and maintenance phases. Construction work is expected to be completed in the second quarter of 2019.
Air Transport Services Group, Inc. announced that it has agreed to acquire Omni Air International LLC (Omni Air), a passenger ACMI and charter services provider with significant experience serving U.S. and allied foreign governments and commercial customers, for $845 million, subject to customary adjustments. The company did not assume any debt in connection with the acquisition.
Omni Air is a leading provider of passenger airlift services to the U.S. Department of Defense (DoD) via the Civil Reserve Air Fleet (CRAF) program, and a worldwide provider of full-service passenger charter and ACMI services. Omni Air also carries passengers worldwide for a variety of private sector customers and government services firms. Omni Air, founded in 1993, is an FAR Part 121 certificated and IATA Operational Safety Audit registered airline.
The combination with Omni Air is anticipated to add over $430 million in annualized revenues to ATSG. It also exceeds ATSG’s investment hurdle and is expected to be immediately accretive to ATSG’s adjusted earnings per share in 2019, with Adjusted EBITDA in line with ATSG’s margin profile. After adjusting for the present value of tax benefits, which are estimated to be approximately $85 million, the implied acquisition multiple is 5.8x Omni Air’s adjusted EBITDA for the trailing 12 months ending August 2018.
The acquisition of Omni Air will further diversify ATSG’s customer base, add significant presence in the growing government passenger charter services market, add 13 aircraft to ATSG’s fleet, and broaden the ATSG carriers’ operating capabilities to include three Boeing 777-200 extended range (ER) aircraft. The transaction will further ATSG’s strategic goals by adding growth opportunities with long-time and blue-chip customers, and by positioning it to meet customers’ global cargo needs with the longer-range 777 platform. The strong recurring cash flows from Omni Air’s operations augment the sustainable cash flow generated by ATSG’s dry leasing business model.
Omni Air’s fleet, which includes seven 767-300ER, three 767-200ER and three 777-200ER aircraft, complements ATSG’s industry leading fleet of Boeing 737, 757, and 767 aircraft, and further solidifies its position as the world’s largest source of dedicated 767 cargo aircraft to selected air-express and other operators. Eleven of the thirteen aircraft Omni Air operates are owned, with one 767-200ER and one 767-300ER leased. In total, the ATSG companies will have a combined fleet of more than 90 aircraft in service by year-end.
ATSG to acquire US passenger carrier Omni Air International for US$ 845 million
Oman Oil Company, the sultanate's energy investment arm, through its subsidiary has signed a partnership agreement with Thailand-based Gulf Energy Development to develop Duqm independent power and water project.
The agreement was signed by Eng Isam al Zadjali, CEO of Oman Oil, and Sarath Ratanavadi, CEO of Gulf Energy Development, Oman Oil announced in a tweet on Thursday.
Duqm independent power and water project will be a gas-fired power project with an installed power generation capacity of 326MW and an installed water generation capacity of 1,667 cubic meters per hour. The project is a partnership between Oman Oil's subsidiaries where they will hold 55 per cent and Gulf Energy Development's subsidiary, which will own 45 per cent, Oman Oil said.
Gulf Energy Development is one of Thailand's largest power generation developers, producers and operators.
Oman Oil said that the project is located in Duqm Special Economic Zone and has secured a long-term power and water purchase agreement to generate and supply electricity and water to Duqm Refinery. 'This prestigious project will be the first captive power plant developed by Oman Oil's infrastructure vertical. It also highlights the integration approach which Oman Oil is developing through projects that would create added value through the whole energy chain', the company said.
Oman Oil, Gulf Energy sign deal for 326MW Duqm
Husky Energy proposes to acquire MEG Energy
for US$ 6.4 billion
Husky Energy Inc. announced a proposal to acquire all of the outstanding shares of MEG Energy Corp. for implied total equity consideration of approximately $3.3 billion. This proposal values MEG at an implied total enterprise value of $6.4 billion, including the assumption of approximately $3.1 billion of net debt.
Together Husky and MEG will create a stronger Canadian energy company, headquartered in Calgary, Alberta. The transaction will be accretive to Husky’s free cash flow, funds from operations, earnings and production on a per share basis.
The combined company will have total Upstream production of more than 410,000 barrels of oil equivalent per day (boe/day) and Downstream refining and upgrading capacity of approximately 400,000 barrels per day (bbls/day), providing for increased free cash flow per share, production growth and a basis for potential future dividend increases.
“Husky is confident the proposed transaction is in the best interests of Husky and MEG shareholders, employees and stakeholders,” said CEO Rob Peabody. “However, to date, the MEG Board of Directors has refused to engage in a discussion on the merits of a transaction, giving us no option but to bring this offer directly to MEG shareholders.”
While Husky remains prepared to engage in discussions with MEG’s Board of Directors to complete the transaction expeditiously for the benefit of MEG shareholders, it intends to commence an offer directly to MEG shareholders by way of a takeover bid so they can determine the future of their investment.
“Husky continues to deliver on our five-year plan – maintaining a strong balance sheet while reducing our cost structure, increasing our production and margins and improving our ability to generate free cash flow – we are uniquely positioned to deliver strong value to MEG shareholders,” said Peabody.
Husky currently has more than 6,000 employees and contractors, plus an additional 2,400 skilled tradespeople working on maintenance and construction projects. The transaction will result in a stronger combined technical and operating team that can apply its expertise across a larger asset base.
Vestas has secured an engineering, procurement and construction contract with global electricity generator, Global Power Generation, for the 181 MW Berrybank Wind Farm located west of Geelong in the state of Victoria in Australia. The order includes 43 V136-4.2 MW turbines with a 112-meter hub height tower design to maximise the performance in site’s specific wind conditions.
The project is one of six winning bids for Victoria's 928 MW renewable energy tender.
Leveraging its strong existing presence in the region and showcasing its long-term commitment to Victoria’s renewable energy plans, Vestas will also set up the Vestas Renewable Energy Hub in Geelong. The initiative will help Victorian industry build capabilities within turbine assembly, subcomponent supply, wind park maintenance, logistics and advanced materials and manufacturing science.
“We are pleased to partner with Global Power Generation and leverage our world-class turbine solutions and strong auction capabilities for this project” said Vestas Asia Pacific President Clive Turton, “with our regional headquarters in Victoria and the new renewable energy hub in Geelong, Vestas is fully committed to creating local renewable energy jobs and working with customers and partners to achieve Victoria’s renewable energy ambitions”.
Vestas secures 181 MW project in Australia
Equinix, Inc., the global interconnection and data center company, announced that it will open the company's second Bulgarian International Business Exchange™ (IBX®) data center in Q1 2019. The $19M data center in the capital Sofia—called SO2—will support Bulgarian companies in their journey to transform their businesses through interconnection with digital supply chain partners, cloud adoption, and access to new markets around the World.
Bulgaria is a strategic location within the Balkans with access to the EU, Turkey and the Caucasus. The SO2 IBX data center will meet customer demand by providing approximately 350 cabinets in the first phase of build out with the opportunity to add 1,100 cabinets in subsequent phases. It will be the second Equinix data center in Sofiawhich is already home to 100+ companies including cloud service providers, network service providers, enterprises and content and digital media companies, who use Equinix's global interconnection platform of 200 data centers around the world to connect to business partners and customers across their digital supply chains.
Today's service providers and enterprises must expand their capacity and capabilities for digital as they re-architect their IT. Companies can extend network infrastructure to the edge and enhance workload performance by shortening the distance between digital services and users. The SO2 data center will provide a secure environment for local businesses and multinationals who are looking to expand into Eastern Europe and the Middle East. Additionally, SO2 will have direct connectivity to the Bulgarian Internet Exchange (BIX).
Direct and private connectivity to strategic cloud service providers is essential as digital transformation fuels higher demand for localized digital services at the edge. According to the Global Interconnection Index, a market study published by Equinix, Interconnection between Enterprises and Cloud and IT Providers is projected to grow 98% per annum through 2021, supporting businesses building out new digital services and migrating existing workloads to third-party cloud platforms.
SO2 will use 100 percent green energy, a practice that Equinix's original data center in Sofia—SO1—has leveraged since 2016. Equinix announced in 2015 its commitment to 100 percent clean and renewable energy for its entire global footprint. Through ongoing development of partnerships Equinix continues to deploy innovative new sustainable technologies including solar, wind and fuel cells, to make this commitment a reality.
Lyubomir Rusanov, CEO, SuperHosting.BG:
"SuperHosting.BG offers hosting services to more than 200,000 websites. The quality and continuity of services are of great importance to us. In order to guarantee them, we have been trusting Equinix Bulgaria and using their reliable colocation services for over seven years now. The opening of their second data center will help us meet the growing demands of our clients in Bulgaria, as well as abroad."
Maple Leaf Foods Inc. announced that it has signed a definitive agreement to acquire VIAU Foods, a Canadian market leader in premium Italian cooked, dry-cured and charcuterie meats for a purchase price of $215 million, including $30 million in Maple Leaf stock. With sales of $180 million over the last twelve months, the transaction is expected to be accretive to Maple Leaf's earnings per share in the first year and to the Company's margin expansion over time.
"VIAU brings a portfolio of leading brands, a reputation for innovation and quality, skilled management and people, and excellent manufacturing assets," said Michael McCain, President and CEO of Maple Leaf Foods. "This acquisition expands Maple Leaf's position in the growing market for premium dry cured and pepperoni meat products and provides further production capacity in Quebec, an important strategic base to grow both Canadian and U.S. sales. It also enables VIAU to expand its portfolio to include raised without antibiotic products, leveraging Maple Leaf's leadership in this growing market."
Established in 1977, VIAU produces a range of value-added prepared meat products including Italian cooked meats, sausages, pizza toppings, shaved steak and meatballs, and is the Canadian market leader in cooked and dry-cured pepperoni. It also produces a range of gourmet deli and premium charcuterie products including salametti, capicollo, pancetta and sliced chorizo. VIAU is a leading supplier of dried pepperoni and other pizza toppings to the North American foodservice industry and markets its products through retailers across Canada.
Sharing a mutual ambition of leading the way in whey in the United States, European dairy cooperative Arla Foods and U.S. based dairy cooperative Foremost Farms USA are in advanced discussions about forming a strategic partnership.
The vision of a potential partnership is to increase the value of whey through innovation, by combining Foremost Farms’ high-quality whey with Arla Foods’ extensive ingredient know-how and strong sales channels. Recently, Arla Foods and Foremost Farms signed a Memorandum of Understanding, formalizing the possibility of a future partnership.
Henrik Andersen, Group Vice President of Arla Foods Ingredients (AFI), says: “As farmer-owned cooperatives, Arla Foods and Foremost Farms USA share many of the same values and both parties see a high degree of compatibility on visions and ambitions within whey. We are confident that Foremost Farms can be the right partner for us in our efforts to secure access to high-quality whey in the U.S. market.”
Michael Doyle, President and CEO of Foremost Farms, says:
“We are excited about working with Arla Foods to create an international strategic partnership. By working with Arla, we can leverage their global food supply connections and innovation expertise with Foremost Farms’ diverse plant network and access to high-quality member milk. These factors combined, will enable both companies to meet business objectives and provide whey solutions of the highest quality to the world.”
Amyris, Inc. a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets announced it has signed its first major supply and distribution agreement for its new, sugarcane-derived, zero calorie sweetener with ASR Group, the world’s largest cane sugar refiner.
“We are pleased to collaborate with Amyris to deliver a great-tasting, zero calorie sweetener made from cane sugar to the marketplace. This product is among the highest in purity and best in flavor profile that we have seen,” said Richard Dyer, Chief Science and Innovation Officer for ASR Group. “We’re looking forward to growing our business by introducing this new product into our portfolio at a time when our customers and consumers are looking for calorie reduction without sacrificing their love for the taste of sugar.
ASR Group is a dynamic company, with multi-national operations, and its portfolio includes the leading regional brands: Domino® Sugar and C&H® Sugar in the United States, Redpath® in Canada, Tate & Lyle® in the United Kingdom and Sidul® in Portugal.
The long-term agreement for a significant volume of Amyris’s ingredient guarantees ASR Group a supply of the sugarcane-derived sweetener – key to the company’s future plans to expand its product offering with a new sweetener brand to be marketed and distributed globally, via business to business and direct to consumer. The agreement also fits well with Amyris’s strategy to create value for market leaders in long-term partnerships.
Palo Alto Networks announces intent to acquire RedLock
Palo Alto Networks, the global cybersecurity leader, announced that it has entered into a definitive agreement to acquire RedLock Inc., a cloud threat defense company. Under the terms of the agreement, Palo Alto Networks will pay approximately $173 million in cash to acquire RedLock. The acquisition is expected to close during Palo Alto Networks fiscal first quarter, subject to the satisfaction of customary closing conditions. RedLock co-founders Varun Badhwar and Gaurav Kumar, will join Palo Alto Networks.
Palo Alto Networks already provides a broad security offering for multi-cloud environments with inline, host-based, and API-based security, which was bolstered by the acquisition of Evident.io in March 2018. The company currently serves more than 6,000 cloud customers globally with its cloud security portfolio that includes VM-Series next-generation firewall, Aperture, Evident, and GlobalProtect cloud service.
Palo Alto Networks will combine the Evident and RedLock technologies to provide customers with cloud security analytics, advanced threat detection, continuous security, and compliance monitoring in a single offering anticipated early next year. The company expects that the new offering will help security teams respond faster to the most critical threats by replacing manual investigations with automated, real-time remediation and reports that highlight an organization’s cloud risks.
Walmart has announced plans to acquire ELOQUII, a digitally native vertical brand focused exclusively on the $21B women’s plus-size market. Here are the key facts about the deal:
Walmart plans to acquire ELOQUII for an undisclosed amount. The deal is expected to close later this quarter.
ELOQUII is a digitally native vertical brand that offers fashion and on-trend apparel starting at size 14 exclusively through its website and stores.
ELOQUII has a direct connection with its customers that helps inform how products get developed, how they’re marketed and how the brand comes to life.
Founded in 2011 as part of The Limited, ELOQUII re-launched online in 2014 as an independent direct to consumer brand.
Customers love ELOQUII – its Net Promoter Score is near 80 and ELOQUII has enjoyed 3X revenue growth since 2015.
ELOQUII sells through its own digital channel and offers unique and differentiated products, similar to ModCloth and Bonobos.
ELOQUII complements ModCloth and our private brand assortment by focusing exclusively on plus-size women.
Cognizant announced it has entered into a definitive agreement to acquire Softvision, LLC, a privately-held digital engineering and consulting company focused on agile development of innovative software solutions and platforms. The transaction is expected to close in the fourth quarter of 2018 subject to the satisfaction of the closing conditions, including regulatory review. Terms are not being disclosed.
Softvision is a leader in developing custom digital products using unique collaborative engineering methods. The combination of capabilities from Softvision and Cognizant creates one of the top digital engineering companies in the world and a leader in software product development, helping clients innovate at speed and execute at scale.
Founded more than 20 years ago in Silicon Valley, Austin, Texas-based Softvision works with Fortune 500 clients in financial services, retail, consumer products, healthcare and other industries. Softvision's agile delivery teams, called pods, combine a global network of design, technical and engineering experts, working collaboratively in studios, to help clients create digital consumer products and scalable digital platforms. With a significant presence in the digital engineering hub of Romania, Softvision's network includes over 2,850 creative technologists. Cognizant plans to continue use of the Softvision brand following the acquisition.
"This is an exciting next step in our evolution started 20 years ago in Romania servicing cutting-edge technology companies and scaling to work with the world's top brands," said Softvision Founder and CTO Laurentiu Russo.
Brandwatch and Crimson Hexagon, two leaders in the social intelligence space, announce the signing of a merger agreement. This merger, expected to close in Q4, creates a c. $100 millionannual recurring revenue business that will move forward as Brandwatch.
"In this digitally connected world, our vision is to transform how organizations understand their consumers through products that bring structure and meaning to the public voices of billions of people. This merger allows us to accelerate towards that vision and move beyond social listening to innovate at the cross section of brand, market and consumer intelligence," said Giles Palmer, Founder and CEO of Brandwatch.
Work to integrate the products will begin immediately, although both products will continue to be supported and operate independently for an extended period. A new roadmap for the combined company will join Crimson Hexagon's artificial intelligence and historical data index with Brandwatch Analytics' data handling and flexible user interface, to create immense value for customers. Additionally, the company will add more data from marketing, customer behavior, and market research sources to the platform to expand beyond social intelligence.
Brandwatch& Crimson Hexagon announce merger
Swiss-based Datwyler opens $100mn Delaware factory
Datwyler, a leading supplier of customized sealing solutions to global biotech and pharmaceutical markets, celebrated the official opening and start of production of its new facility with First Line standard in Middletown, Delaware. With this new plant, Datwyler further strengthens its position in the U.S. pharmaceutical market – the largest pharma market worldwide. The local presence enables Datwyler to optimize its supply chain and provide customers in the region with locally produced components of the highest quality, while simultaneously ensuring business continuity. The official opening ceremony was held yesterday, in the presence of high-ranking guests such as the mayor of Middletown, members of the city council, and Datwyler's Board of Directors. The event was also open to customers and partners who showed great interest in joining the festivities.
With the start of First Line production in Middletown, Datwyler further expands its presence and resources in the largest pharmaceutical market worldwide. First Line is Datwyler's most advanced state-of-the-art manufacturing concept for high-quality elastomer components for the fast-growing global biotech and pharmaceutical markets. With the latest addition in Middletown, Delaware, Datwyler will be able to increase its global First Line production by 50 percent by 2020. Datwyler's two other facilities with First Line standard are located in Alken, Belgium, and Pune, India, enabling the company to cater to all major healthcare markets in Europe, the Asia Pacific region, and the Americas.
First Line Middletown: cutting-edge technology and highest level of automation
The construction of the Middletown facility started in December 2016. Since then, Datwyler invested more than $100 million in building the industry's most advanced production facility of its kind in the United States. The new site will provide jobs for approximately 120 employees. Based on the company's belief in hiring locally, the majority of these jobs have been staffed with members from the local community. The facility will be fully operational by the end of this year, with first samples to be expected in Q4 of 2018.
In Middletown, Datwyler has taken cleanroom production to the next level and set new standards. The facility features cutting-edge production technologies and top-of-the-line equipment. Since human interaction can bear risks of contamination, Datwyler is constantly working towards increasing the degree of automation within the cleanroom. Therefore, the individual production lines in the cleanroom are specially designed to run predominantly along the most advanced, fully automated processes.
Middletown currently features the highest level of automation within the cleanroom environment out of all of Datwyler's First Line aligned facilities.
Arrowhead Pharmaceuticals Inc. announced that it entered into a license and collaboration agreement with Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, to develop and commercialize ARO-HBV. In addition, Arrowhead entered into a research collaboration and option agreement with Janssen to potentially collaborate for up to three additional RNA interference (RNAi) therapeutics against new targets to be selected by Janssen. The transactions have a combined potential value of over $3.7 billion for Arrowhead.
Arrowhead is eligible to receive up to approximately $1.6 billion in milestone payments for the HBV license agreement, including a $50 million milestone payment linked to a Phase 2 study. Arrowhead is also eligible to receive approximately $1.9 billion in option and milestone payments for the collaboration agreement related to up to three additional targets. Arrowhead is further eligible to receive tiered royalties up to mid teens on product sales.
“This agreement represents an important next step for ARO-HBV. Arrowhead has established a leadership position in the field over the past several years, and Janssen’s proven development capabilities, global commercial reach, and commitment to HBV make it the ideal partner to potentially accelerate our goal of bringing a functional cure to patients with chronic HBV,”
Under the agreement, Janssen receives a worldwide exclusive license to the ARO-HBV program, Arrowhead’s third-generation subcutaneously administered RNAi therapeutic candidate being developed as a potentially curative therapy for patients with chronic hepatitis B virus infection. Beyond AROHBV1001, Arrowhead’s ongoing Phase 1/2 study of ARO-HBV, Janssen will be wholly responsible for clinical development and commercialization.
Arrowhead enters $3.7 billion license and collaboration agreements with Janssen
Novanta Inc., a trusted technology partner to medical and advanced technology equipment manufacturers, announced that it has acquired the remaining approximately 24 percent of the outstanding shares of Laser Quantum for an aggregate consideration of $45.7 million in cash and restricted stock.
Laser Quantum, based in Manchester, United Kingdom, is the leading supplier to original equipment manufacturers (OEMs) of solid state continuous wave lasers, femtosecond lasers, and optical light engines for the medical market.
As a result of increasing Novanta's equity stake in Laser Quantum to 76% in January 2017, Laser Quantum has been consolidated in Novanta's consolidated financial statements. The acquisition of the remaining 24 percent minority interests will be accounted for as a transaction among shareholders. Accordingly, this transaction is not expected to give rise to gain or loss in the consolidated statement of operations.
The total purchase price was financed with cash on hand and borrowings under the Company's amended and restated credit facility, and the issuance of $15.0 million in restricted stock. The restricted stock will become fully vested upon achievement of certain milestones included in the restricted stock agreement. Restricted stock not otherwise vested as of December 31, 2025 will be subject to forfeiture. The transaction is expected to be accretive to Novanta's non-GAAP earnings per share.
Novanta acquires remaining equity interest in Laser Quantum
Ajinomoto Althea and OmniChem, global leaders in large and small molecule contract manufacturing services, announced that they are integrating their businesses and operations as a unified Contract Development and Manufacturing Organization (CDMO), and changing their name to Ajinomoto Bio-Pharma Services. The name change reflects the unified company’s commitment to providing its large and small molecule clients accessibility to a broader range of service offerings.
Ajinomoto Bio-Pharma Services includes small molecule manufacturing, formerly OmniChem’s Pharmaceutical Custom Manufacturing division (Wetteren and Balen, Belgium), and large molecule manufacturing and aseptic fill finish services, formally Althea (San Diego, CA, United States). In 2019, Ajinomoto Co.’s oligonucleotide manufacturing entity, GeneDesign (Osaka, Japan), will join Ajinomoto Bio-Pharma Services.
“Unifying these individual Ajinomoto companies furthers our commitment to enhancing our trusted capabilities, quality services and responsiveness to our customers’ needs,” said Peter Stuyck, Sr. VP and Head of Operations, Europe for Ajinomoto Bio-Pharma Services. “Together, as a fully integrated and global CDMO, we can more successfully contribute to the health of patients worldwide.” The new name is effective immediately, and is currently being implemented across the company’s numerous sites. The company will continue to operate in its current legal structure, and ownership and staff will remain unchanged.
Ajinomoto Althea and OmniChem Combine to form Ajinomoto Bio-Pharma Services
Country Inn & Suites by Radisson, a leading upper midscale hotel brand, announced the opening of Country Inn & Suites by Radisson, Fort Atkinson, WI located at 1650 Doris Drive. This is the first hotel in eighteen years to be built in Fort Atkinson, WI. The newly constructed hotel features the brand’s latest design with modern interiors, stylish furnishings and spacious guest rooms and suites. The hotel’s convenient location at the intersection of the Highway 26 Bypass and Highway 12 makes it the ideal destination for guests visiting the Fireside Dinner Theatre, the University of Wisconsin-Whitewater or local businesses within the Jefferson County area.
“This hotel fits perfectly into our five-year strategic plan to accelerate the transformation of our Country Inn & Suites by Radisson portfolio to our Generation 4 product,” said Aly El-Bassuni, senior vice president, Franchise Operations, Americas, Radisson Hotel Group. “Built from the Gen 4 prototype design, this new hotel is an ideal example of that plan in action and with an owner and management team committed to delivering outstanding hospitality to our guests.”
The hotel offers 83 modern guest rooms and suites. Guests have access to a fitness center, 24-hour business center, indoor pool and free Wi-Fi. There are four meeting rooms with flexible configurations perfect for gatherings for up to 300 guests. The hotel serves as an excellent space for hosting special events, as well as more intimate occasions such as business seminars and small conferences. Each meeting room features Wi-Fi, audio-visual equipment, projector screens and catering service. Guests have access to a bar and lounge in the foyer area of the banquet space on weeknights and weekends when an event is not taking place. The hotel also offers a free, hot breakfast to guests every morning.
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the signing of 10 new hotels in Africa to date in 2018, accelerating its expansion across the continent.
Radisson Hotel Group today has 90 hotels and 18,000+ rooms in operation and under development across 31 countries in Africa and plans to reach 130 hotels and 23,000+ rooms by 2022.
Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: “We strongly believe in Africa. We’re thrilled to add 10 new hotels in just nine months. The transactions are strategically aligned to deliver our five-year development plan across the continent, the introduction of new brands and a scaled growth in Africa’s key destinations. So far this year, we’ll be adding more than 1,300 rooms to our portfolio in Africa, and we plan to continue this accelerated growth through further expansion in our focus markets across this flourishing continent.”
In addition to the Radisson Hotel & Apartments Abidjan Plateau and the Park Inn by Radisson Lusaka Longacres that were announced earlier this year, the remaining eight new hotel deals include:
Radisson Collection Ikoyi Lagos, Nigeria
Radisson Collection, the Group’s premium lifestyle collection of exceptional hotel properties in unique locations, will make its debut in Ikoyi Lagos. This luxury hotel will be situated in a prestigious upscale area within Lagos Island, at the edge of the Lagos Lagoon.
Radisson Blu, the upper upscale hotel brand that delivers a positive and personalized service in stylish spaces, is delighted to announce its latest hotel opening in the historic Turkish city of Trabzon. The 162-room Radisson Blu Hotel, Trabzon is located in Boztepe, the city’s cultural heart, and provides stunning views of the Black Sea. This recent opening brings the portfolio of Radisson Hotel Group to 21 hotels in operation in the country.
Tim Cordon, Area Senior Vice President, Middle East, Turkey & Africa, Radisson Hotel Group said:
“We’re excited to open our first Radisson Blu in Trabzon and grow the presence of Europe’s largest upper upscale hotel brand on the northeast coastline of Turkey. Trabzon has traditionally held a strategic position on the coast of the Black Sea – a location that made it a famous trading port, especially on the old Silk Road. We hope to contribute to this rich heritage, and we are confident that both domestic and international travelers will enjoy exploring the city’s cultural highlights and lush landscape.”
Situated in Boztepe, the Radisson Blu Hotel, Trabzon is at the heart of an area of ancient religious significance and the site of four major sacred fountains. The hotel is just 2km from the city center, where guests can explore a number of shops, restaurants, cafes and cultural venues. Local attractions include the Boztepe Tea Garden and Hagia Sophia, a mesmerizing mosque set in idyllic surroundings by the sea. Easily accessible to domestic and international travelers, the hotel is just 7km from Trabzon Airport.
Choice Hotels to develop new Cambria Hotel in Austin, Texas
Choice Hotels International, Inc. has finalized an agreement with Brendan Gilyan of Mopac Hotel Development, LP, to develop the Cambria Hotel Austin near the Domain. The five-story, 135-room upscale hotel is slated to open in 2021.
Located at 13201 Burnet Road, the new Cambria hotel will be situated within a mixed-use development in the high-tech corridor of northwest Austin, offering guests convenient access to the regional offices of Apple, Amazon, Google, Facebook, and Dell. The property is also near several local attractions, including the upscale Domain Shopping Mall, Rock Rose Entertainment District, St. David's Medical Center, and the University of Texas at Austin.
"Austin is one of the fastest-growing regions in the nation—spurred by major businesses expanding in the area, popular festivals like South by Southwest (SXSW), and a thriving food and craft beer scene. The Cambria Hotel Austin near the Domain will be designed to reflect the city's creative culture and connect travelers with authentic, local experiences," said Mark Shalala, vice president, development, upscale brands, Choice Hotels. "Austin is the perfect fit for the expansion of our Cambria portfolio across Texas, where we now have several hotels open or in the pipeline."
The hotel will feature upscale amenities tailored to the needs of modern travelers, including:
Spa-style bathrooms with Bluetooth mirrors
Contemporary and sophisticated guest rooms with plush bedding
State-of-the-art fitness center and pool
5,500 square-feet of multi-function meeting space
Upscale bistro and bar featuring local craft beer, wine, specialty cocktails, and small bites
Outdoor courtyard with fire pit and gathering space
Locally inspired design
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