Viacom agreement to acquire Pluto TV for $340 million
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
DHL Express builds new state-of-the-art hub at Copenhagen Airport
Continental breaks ground for greenfield plant in India
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21 - 26 January 2019
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Hotel Indigo opening in 100 vibrant neighbourhoods around the world
Mercedes-Benz plans to start a new assembly plant in Egypt
PUMA establishes new North American Headquarters
Ivanhoé Cambridge and Prologis announces $880mn JV in Brazil
IBM & Vodafone to create a new venture for innovation in digital world
Redwood Logistics acquires Atlanta-based LTX Solutions
EdgeConneX expands with acquisition of Data Center in Munich, Germany
IT-BPM
Mercedes-Benz Cars to build battery factory in Jawor, Poland
Rheinmetall and BAE Systems to create a UK based land systems JV
Salesforce adding 1,500 new jobs in Ireland
Panduit acquires leading AV solutions manufacturer Atlona
Infrastructure
Automotive
AfDB and Rwanda sign $130 million agreements for water projects
Grifols collaborate with Rigel Pharmaceuticals
Rafael Holdings acquires majority stake in Rafael Pharma
IHC announces its second hotel in Nepal with Vivanta Kathmandu
Lactalis announces the acquisition of Prabhat company in India
Food
Healthcare
Radisson, announced the opening of Radisson Hotel Oklahoma City Airport
Henry Schein expands with acquisition of North American Rescue
Tourism
Nestlé opens new R&D center for maternal and infant nutrition
IHG signs first voco hotel in South East Asia
Hyatt Hotels opens Hyatt House Jeddah Sari Street in Saudi Arabia
American Pasteurization Company acquires FreshCo Foods
JBT signs agreement to acquire LEKTRO
Printful is expanding their production in Riga, Latvia
Alsco announces opening of Kyle, Texas, Mixed Laundry Plant
Machinery
Zoomlion opens world's largest intelligent Tower Crane Factory
Retail
Sandvik acquires Artisan Vehicle Systems
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Mercedes-Benz to build battery factory in Jawor, Poland
The global battery production network of Mercedes-Benz Cars is increasing to nine factories on three continents. Markus Schäfer, Member of the Divisional Board of Management of Mercedes-Benz Cars, Production and Supply Chain: “We will electrify the complete Mercedes-Portfolio until 2022 and will be able to offer in each segment various electrified alternatives to our customers. We will produce batteries on our own, what we consider a significant success factor in the era of electric mobility. After the production of high-tech engines, we will establish an additional future technology in Poland.” Mateusz Morawiecki, Prime Minister of the Republic of Poland: “The decision of Mercedes-Benz Cars to start the production of electric batteries for a new type of vehicles in Jawor shows that companies that have started operations in our country positively assess the investment climate and want to continue to grow here. We are witnessing the 4.0 industrial revolution in which Poland plays a leading role.” Stuttgart, Germany / Jawor, Poland – In the course of the electric initiative Mercedes-Benz Cars will build a battery factory at the polish site in Jawor and thus extend the global battery production network of up to nine factories. “We will electrify the complete portfolio until 2022 and will be able to offer in each segment various electrified alternatives to our customers. This includes more than ten pure electric vehicles. We will produce batteries on our own, what we consider a significant success factor in the era of electric mobility. The engine production in Jawor will start in 2019 and supply car plants of Mercedes-Benz in Europe and around the world. With the construction of a battery factory on the existing ground at the site approximately 300 new jobs will be created. The battery assembly will be equipped with cutting-edge technologies. The series production of batteries for vehicles of the product and technology brand EQ is slated at the beginning of the next decade. “The engine plant and the new battery factory in Jawor are important parts of our global powertrain production network. With nine factories in our global battery production network we are very well positioned. It became apparent that building an engine factory in Jawor has been a good decision. This success story will be continued with the battery factory. We are looking forward to strengthen the collaboration with the region and the Polish colleagues,” says Frank Deiß, Head of Production Powertrain Mercedes-Benz Cars. Mercedes-Benz Cars belongs to the first and biggest industrial companies in Poland who have concluded contracts with local green electricity and heat suppliers. The engine factory as well as the battery factory will be supplied with CO2-neutral energy. Thus, within the global production network of Mercedes-Benz Cars Jawor is one of the pioneers.
Mercedes-Benz Cars has plans to start a new assembly plant in Egypt. “Egypt is an attractive and competitive location for production and supporting logistics. With the planned local assembly we are confident to be able to expand our market position. Furthermore, with our broad-based product portfolio, our electric initiative as well as our expertise in respect of modern mobility concepts, we are ready to support the Egyptian authorities in related projects”, says Markus Schäfer, Member of the Divisional Board of Mercedes-Benz Cars, Production and Supply Chain. In order to optimally respond to market and sales potential, the framework conditions in all markets and regions are constantly monitored and the market strategy is aligned accordingly. The passenger car assembly would be built by a local business partner. The planned localization effort is being developed in close collaboration with the Egyptian government and was further concretized in recent successful discussions between Markus Schäfer and the President of Arab Republic of Egypt H.E. Abdel Fattah El-Sisi in Cairo and with the Prime Minister, Mostafa Kemal Madbouly, in Berlin. There have been talks on important state infrastructure projects with the Egyptian government. With regard to the new capital in Egypt and the planned new “smart cities”, Daimler has offered its expertise in modern mobility concepts, electro-mobility and electric cars as well as autonomous driving. Detailed agreements have not yet been concluded.
Mercedes-Benz Cars plans to start a new assembly plant in Egypt
The Surface Treatment global business unit of the Coatings division of BASF, operating under the Chemetall brand, announces that it has reached a conclusive agreement to acquire the automotive paint detackification business of Polymer Ventures, Inc., including all of its shares of Galaxy Chemical Corporation. The paint detackification technology, is a process used to capture and neutralize paint overspray, and complements Chemetall's surface treatment products which are designed to optimally prepare metal surfaces for the painting process and ensure proper coating adhesion. The transaction culminates a long-standing partnership between the two organizations whose customer portfolios fully align. The purchase will provide customers with best-in-industry value: by streamlining the combined supply chain; enhancing service through the organizations' mutual commitment to meeting technical requirements with expanded in-field representation and industry specialists; new products through global R&D resources, and stronger manufacturing and processing capabilities. Furthermore, the joined business represents a significant growth opportunity for employees, customers and suppliers. Chemetall through this acquisition is in the best position to offer a technically advanced and complementary product portfolio to the industries it serves. This in keeping with its complete-system market approach of Cut It. Clean It. Coat It. Control It. Conserve It.®
Chemetall to acquire the automotive paint business of Polymer Ventures
The technology company Continental celebrated the groundbreaking of its greenfield plant in Talegaon, Pune, dedicated to its powertrain business. Around 30 million euros (2,4 billion Rupien) are planned to be invested in infrastructure and buildings until 2020. The construction phase has already been initiated. Production start is scheduled for early 2020 for various drivetrain products including engine management systems, sensors and actuators as well as fuel and exhaust management components, for passenger cars, 2-wheelers and commercial vehicles. During the groundbreaking ceremony, Klaus Hau, Executive Vice President Powertrain Components Business Unit, Powertrain, said, “India plays a central role in our global growth strategy. Due to the increasing stringent emission legislation in the automotive market, including two-wheeler market, we are expecting a growing demand of low-emission technologies. Through this investment, we are expanding our involvement in this strategic important market, thereby ensuring that we will better satisfy the customers’ growing demand”. Continental Powertrain offers efficiency solutions for the conventional combustion engine, the exhaust aftertreatment as well as for the broad field of vehicle electrification. Prashanth Doreswamy, market head Continental India, comments: “This investment reinforces our commitment to the Indian market. Continental has been growing ahead of the market in India. To continue doing so, we need to invest both in technologies of tomorrow, and expand our reach in the market. With this investment in our Powertrain business, Continental will better support India’s drive for cleaner air.” Continental has invested approximately 260 million euros (21 billion Rupien) in India during the ten-year period from 2008 for its various businesses. The company is supporting all key automotive customers in India transition to BS VI emission standards. They continue to make investments in enhancing combustion engines and electro-mobility.
Rheinmetall and BAE Systems announced that they have signed an agreement to create a joint UK based military vehicle design, manufacturing and support business. The new Joint Venture will be headquartered at BAE Systems’ facility in Telford, England and will sustain over 400 jobs in the UK, as well as preserve key technology and engineering skills. Rheinmetall will purchase a 55 percent stake in the existing BAE Systems UK based combat vehicles business, with BAE Systems retaining 45 percent. The establishment of the new Joint Venture is subject to regulatory approvals which are anticipated to be completed in the first half of 2019. Once the approvals have been completed, the Joint Venture will be known as Rheinmetall BAE Systems Land (RBSL). In addition to managing and growing the existing combat vehicle support business, the intent is for the new Joint Venture to play a major role in the delivery of the British Army’s new Mechanised Infantry Vehicle (MIV) and other strategic combat vehicles programmes. Ben Hudson, global head of Rheinmetall’s Vehicle Systems Division said “We are excited about the potential the new Joint Venture holds for Rheinmetall, BAE Systems and ultimately our customers. The combined capabilities of our two great companies will offer our customers a comprehensive portfolio of military vehicles and associated technologies both now and into the future. We are proud to invest in the UK and expect to substantially grow the current business and the Telford manufacturing facility over the coming years.
Prologis, Inc., the global leader in logistics real estate, and global real estate investor Ivanhoé Cambridge announced the close of their agreement to form an approximately $880 million, 20/80 joint venture in Brazil. Prologis Brazil Logistics Venture will develop and operate logistics real estate in Brazil, specifically in São Paulo and Rio de Janeiro. At closing, the venture acquired an initial portfolio of assets of approximately 6.9 million square feet of operating properties and 371 acres of land from Prologis with a commitment to build out the existing land bank.
Ivanhoé Cambridge and Prologis announces $880 Mn Joint Venture in Brazil
DHL Express will make its largest ever investment in Denmark and the Nordic countries with a new hub at Copenhagen Airport. The hub will significantly improve the speed and quality of DHL Express' activities in the region. With new state-of-the-art automated systems, DHL will be able to handle nearly 37,000 packages per hour, 24 hours a day, in the 26,172 m2 building, which also includes offices. The company, which was voted Denmark's best workplace in November 2018, therefore expects to add 100 new jobs. "We want to grow through quality. Therefore, we are investing significantly into the expansion of our infrastructure to increase efficiencies and to improve delivery capabilities. Our international hubs are the backbone of our global network which connects businesses from all industries and private customers alike, and enables them to benefit from the ongoing e-commerce growth." says John Pearson, Global CEO of DHL Express. Packages to and from Denmark usually travel via the DHL hubs in Leipzig, Germany, or East Midlands, UK. However, once the new hub at Copenhagen Airport is built, planes will reach their destinations more directly and without additional stops along the way. Fewer stops mean faster delivery, which is critical for many companies' business and vital for consumers today. "We are experiencing enormous growth in our cross-border online trade," states Atli Einarsson, Managing Director of DHL Express in Denmark. "We are also preparing for our customers' growth, including manufacturing companies within the pharmaceutical and fashion industries. This massive upgrade of our facility will turn it into one of the most modern of our 19 regional hubs worldwide. This demonstrates the importance of our country's future role in the network. The new regional hub will benefit businesses and consumers in Denmark and throughout the Nordic region." Future-proofing capacity DHL Express is in the midst of further strengthening and future-proofing its business. In 2018, the logistics giant announced to purchase 14 new Boeing 777 air freighters and five Airbus A330s, expanding the fleet to over 260 planes. In Denmark, the company also broke ground on a new terminal in the central city of Fredericia at a price tag of more than DKK 100 million (approximately EUR 13.4 million). It is slated to open in early 2020. "The new investments here in Denmark and at other locations in our network are part of our global plan to promote our future growth, efficiency improvements in day-to-day operations, and the quality for which our customers choose us," says Einarsson.
Redwood Logistics acquires Atlanta-Based LTX Solutions
Redwood Logistics, a strategically-integrated North American logistics company, announced that it acquired LTX Solutions a provider of less than truckload ("LTL") freight management and transportation supply chain solutions based in Atlanta, Georgia. Redwood is owned by company management and CI Capital Partners. Terms of the transaction were not disclosed. The transaction provides Redwood with an attractive opportunity for growth in the Southeastern U.S. market, and Redwood plans to continue to invest in LTX's current management team to increase its presence in the region. LTX's innovative LTL freight management services and custom IT solutions complement Redwood's existing LTL managed service offering. Additionally, LTX stakeholders will benefit from Redwood's broader suite of services, including multimodal brokerage, complete management transportation capabilities, and cutting-edge technology integration and implementation services. Adam McDaniel, LTX's founder and current CEO, will remain with the combined organization in a senior leadership role. "Redwood's core competencies have set the benchmark for integrated third-party logistics providers, and the addition of LTX expands and amplifies what makes Redwood special," Redwood CEO Mark Yeager said. "What drew us to LTX was not only its market expertise and past success, but its people. LTX's passion for its customers, entrepreneurial spirit, deep interest in personal and professional growth, and desire to cultivate an uplifting and energetic environment aligns seamlessly with Redwood's core values."
Zoomlion Heavy Industry Science & Technology Co., Ltd., China's top construction machinery manufacturer, has opened the world's largest intelligent factory for tower cranes (the "Factory") in Changde, China, marking a new milestone for Zoomlion in the realm of intelliget manufacturing. Taking three years to construct and representing 780 million yuan (US$115.4 million) of investment, the Factory is the central feature of Zoomlion's goal to meet Germany's Industry 4.0 standards. Boasting 12 automatic production lines, over 10,000 sensors, 100 industrial robots, 35 unmanned RGV and AVGs as well as 16 sets of CNC machining centers, it is the most advanced, efficient and environmentally-friendly intelligent tower crane factory in the world and features integrated IM control, IM production line, intelligent logistics and intelligent sensors. The new Factory will allow Zoomlion to reach a new stage in the tower crane industry by integrating talent, capital, technology and information from both upstream and downstream along the industry chain. Zoomlion is the No.1 tower crane brand in China, owning the largest share of the tower crane market worldwide. Zoomlion's tower crane business achieved US$739.7 million total output in 2018 and the Factory will enable Zoomlion to reach its goal of US$1.48 billion in 2019.
The African Development Bank (AfDB) has signed financing agreements worth €115 million with the Government of Rwanda to support the Rwanda Sustainable Water Supply and Sanitation Programme as additional financing. The funding, which comprises €114.27 million from the AfDB window and €0.8 million from the Rural Water Supply and Sanitation Initiative Trust Fund, augments the original financing of €104 million AfDB loan and €43 million Africa Growing Together Fund loan approved by the Bank’s Board in 2017. The additional financing will mainly support water supply infrastructure, and provide 1.5 million more people with access to reliable and sustainable water supply services. Of these beneficiaries, 700,000 live in peri-urban/ rural areas. The funding will cover strategic cities and address water challenges in areas with low access rate of 45% − a figure that is well below the national average of 85%. The objective is to support Rwanda to achieve universal access to reliable water and sanitation services, by 2024 in line with the objectives of the National Strategy for Transformation. The scaled up resources bring the number of beneficiaries of improved water services to 2.6 million and of improved sanitation to 475,000 over the programme’s duration. “The Bank’s support for this programme deepens and consolidates the impact of its investments in enhancing resilience to climate change and inclusive growth,” said Wambui Gichuri, the Bank’s Director for Water Development and Sanitation.
Viacom Inc. announced that it has entered into a definitive agreement to acquire Pluto TV, the leading free streaming television service in U.S., for $340 million in cash. Founded in 2013, Pluto TV streams more than 100 channels and thousands of hours of on-demand content spanning television and movies, sports, news, lifestyle, comedy, cartoons, gaming and trending digital series. The ad-supported, internet-based TV service features world-class programming sourced from over 130 partnerships with media networks, major film and television studios and a wide range of digital content producers. Today, Pluto TV has more than 12 million monthly active users, 7.5 million of which are on connected TVs. Its audience streams billions of minutes of content each month across devices such as Roku, Amazon Fire TV, Android TV, Apple TV, Chromecast, and Sony PlayStation consoles, as well as built-in integrations on smart TVs from Samsung and Vizio, and mobile apps on Android and iOS. Pluto TV has also secured new distribution deals that will make the service available on tens of millions of additional devices in the coming months. Strategic Highlights The acquisition of Pluto TV will advance Viacom’s key strategic priorities, including expanding its presence across next-generation distribution platforms and growing its advanced advertising business. Additionally, access to Viacom’s global reach, leading brands and vast, unencumbered library will help solidify Pluto TV as the leader in the free streaming video market in the U.S., and accelerate Pluto TV’s global growth.
Panduit Corp., a global leader of innovative electrical and network infrastructure solutions, announced it has acquired global AV manufacturer Atlona. Atlona designs and develops innovative, award-winning products for a diverse range of commercial and residential AV and IT markets worldwide, including education, business, government, entertainment, and healthcare. Atlona's product categories include networked AV, signal distribution, wireless collaboration, and AV system automation. These solutions enable system designers, integrators, consultants, and installers to simplify installation, minimize maintenance, and maximize the versatility of premier automated control solutions. "Atlona has been at the forefront in developing cutting-edge AV technology that embraces the full potential of the convergence of AV and network infrastructure," explains Dennis Renaud, president and CEO of Panduit. "Their industry-leading solutions complement Panduit's extensive physical infrastructure portfolio, which will allow us to offer customers a quality end-to-end solution as they move to increasingly complex network infrastructure systems." These innovative AV solutions are backed by an Atlona 10-year award-winning warranty. Ilya Khayn, Atlona CEO adds, "There are strong synergies between our companies including a culture of providing innovative, high-quality, customer-driven products, along with outstanding customer support capabilities. This partnership will ultimately provide our market channels with a single-source solution and expand our footprint globally." As part of the acquisition, the Atlona team will join Panduit's Enterprise business group. Atlona will continue to serve its customers from its global headquarters in San Jose, Calif. for all sales, customer support, and training related inquiries.
IBM and Vodafone Business announced that they are creating a new venture designed to help companies across Europe and beyond deliver innovation faster and succeed in a digital world. Building on more than two decades of collaboration between the two companies, IBM and Vodafone have entered into a new strategic commercial agreement. It will provide clients with the open, flexible technologies they need to integrate multiple clouds and prepare for the next wave of digital transformation enabled by AI, 5G, edge and Software Defined Networking (SDN). With more than 70 percent of organisations today using up to 15 cloud environments as they strive to access powerful new digital solutions and services*, the interconnectivity of clouds and the vulnerability of data have become global issues. Together, IBM and Vodafone Business will help companies remove the complexity and barriers from their technology choices and ensure that data and applications flow freely and securely across their organizations. Under the new venture, Vodafone Business customers will immediately have access to the full portfolio of IBM's cloud offerings, underpinned by IBM's deep industry expertise and open technologies. As part of the agreement, IBM will provide managed services to Vodafone Business' cloud and hosting unit, in an eight-year engagement valued at approximately $550 million (€480 million). Customers will benefit from IBM's optimisation, automation and cognitive capabilities which help them to run their business effectively in a cloud environment. "Vodafone has successfully established its cloud business to help our customers succeed in a digital world," said Vodafone CEO Nick Read. "This strategic venture with IBM allows us to focus on our strengths in fixed and mobile technologies, whilst leveraging IBM's expertise in multicloud, AI and services. Through this new venture we'll accelerate our growth and deepen engagement with our customers while driving radical simplification and efficiency in our business."
Salesforce commits to adding 1,500 new jobs in Ireland
Salesforce the global leader in CRM, announced Salesforce Tower Dublin, significantly expanding the company's regional headquarters in Ireland. As part of the expansion, Salesforce plans to add 1,500 new local jobs over the next five years. Salesforce.org, the philanthropic arm of Salesforce, also announced a $1 million grant to Educate Together, supporting the opening and running of schools in Ireland. The announcements were made with the Irish Prime Minister, An Taoiseach Leo Varadkar TD at an event in the Convention Centre Dublin where nearly 1,000 Salesforce employees were present to hear details of the new plans. Salesforce Tower Dublin will be an urban campus of four interconnected buildings located on North Wall Quay within Dublin's vibrant Silicon Docks, overlooking the River Liffey. Salesforce employees are due to start moving into the 430,000 Sq ft campus in mid-2021. Salesforce Tower Dublin is being developed by Ronan Group Real Estate and Colony Capital. Plans for Salesforce Tower Dublin will include an immersive video lobby experience; riverside paths connecting the campus to the cultural city hub; and an "Ohana Floor", an open hospitality space for Salesforce employees, customers and partners, which will also be available for not-for-profit organisations and local community groups to use on weeknights and weekends at no cost. New Campus Supports Salesforce's Continued Growth in Ireland Salesforce has been named one of Ireland's Best Places to Work for three years and the Best Workplace in Europe in 2018. Salesforce Tower Dublin will be a regional hub for employees across sales, customer service, technical and business operations delivering new innovations to its more than 150,000 customers around the world. Salesforce has over 1,400 employees in Dublin and more than 34,000 employees worldwide. With plans to add 1,500 new jobs over the next five years, the company is actively recruiting for roles across all functions including engineering, customer support, sales and business services. Ireland is home to many Salesforce customers including Brown Thomas Arnotts, Icon PLC, Property Button and Ulster Bank.
EdgeConneX, pioneers in edge data center development, announces that it has acquired strategic data center assets at Landsberger Strasse 155, Central Munich, Germany. Necessitated by increasing customer demand and lack of well-connected data center space in the region, EdgeConneX’s Munich edge data center will offer a carrier-neutral facility for cloud, content, network and IT providers to deploy their infrastructure in close proximity to their customers in the region, ensuring optimal performance, security, availability and economics for their services. As part of the deal, existing network service providers and customers will continue to operate critical network and peering infrastructure at the data center. “Munich has been an historically important market for network and content peering and is now seeing substantial growth as a cloud epicenter as well,” comments Dick Theunissen, Managing Director EMEA at EdgeConneX. “This, coupled with demand from customers, primarily to serve the region and create an alternative to Frankfurt, has driven our entry into Munich.” With over 20 prominent networks and cloud on ramps serving as existing strategic anchors, EdgeConneX is making a significant investment to enhance the infrastructure, operations and security of the Munich facility. Upon completion, the Munich data center will have additional capacity and power to support customer growth and expansion. The facility will be ready for new customer deployments starting in Q2 2019. “EdgeConneX brings the edge to its customers – we go where they need to be,” continues Theunissen. “Simply put, our European expansion is about bringing cost-effective and modern data center facilities and services to the markets that need it most. We’re looking forward to making more announcements throughout the year.”
Nestlé has opened a research and development center for maternal and infant nutrition in Limerick, Ireland. The opening marks the completion of a three three-year construction program with an investment of EUR 27 million (CHF 30 million). The new R&D center will focus on scientific research to support innovation in milk-based maternal and infant nutrition products for the global market. This will help provide nutritional solutions for the crucial first 1,000 days of life. More than 40 research staff work at the center, which is located together with Nestlé’s Wyeth Nutrition manufacturing plant. Wyeth Nutrition Ireland produces a range of premium milk powder products for infants, young children and mothers, for export to world markets. The center incorporates state-of-the-art laboratory facilities as well as a full pilot-scale manufacturing line to facilitate the development and testing of new products from initial concept through to product deployment. This will help increase the pace of innovation in the category, which is one of Nestlé’s most important growth drivers.
Lactalis announces the acquisition of Prabhat company in India. This operation will be effective in the beginning of the second quarter of 2019, and is submitted to the authorization of the competition authorities. Prabhat is an Indian dairy products company, established in 1998 in Shrirampur (State of Mahārāshtra) and is specialized in the production of packaged milk in plastic bags /pouches and ghee. Prabbat is also a leading supplier of dairy ingredients. The company owned two factories, including one of the largest sweetened condensed milk plants in India, and employs 1,239 people. It realizes 200 million euro sales in 2018 Prabhat collects annually 450 million liters of milk from 100,000 farmers.
American Pasteurization Company (APC), a national leader in High Pressure Processing (HPP), has acquired FreshCo Foods, a Milwaukee-based, end-to-end co-manufacturer of premium and specialty food products. As part of the acquisition, FreshCo has been renamed APC Manufacturing. APC Manufacturing was founded in 2017 and has been adding capabilities and expanding its portfolio of business for the past year. The company has three CIA-trained chefs who work with clients on all aspects of product development – from concept creation and testing to packaging development and production. APC Manufacturing's packaging capabilities currently include bag, squeeze pouch and container filling of almost any shape or size and induction seal application. "APC Manufacturing was originally established as a stand-alone company to provide co-packing services to clients of APC. Its rapid growth has required an infusion of capital that's best delivered by APC," says Justin Segel, co-founder and CEO of American Pasteurization Company. "APC Manufacturing operates in the same building as APC, so it's been an easy ownership transition." APC Manufacturing currently produces a variety of products, including: hummus; fresh salsa and pico de gallo; salad dressing; baby food; macaroni & cheese; soups and stews; mashed potatoes and potato sides; stuffing; pasta salads; fresh salads such as tuna and chicken; sauces and marinades; and pesto and marinara. APC Manufacturing is also capable of co-packing guacamole and avocado-based products, fresh pasta and cooked pasta dishes, legume and bean dishes, grain and rice dishes, coleslaw and a variety of fresh dips.
JBT Corporation announced it has signed an agreement to acquire LEKTRO, Inc., a privately-held manufacturer of electric aviation ground support equipment based in Warrenton, Oregon, with the transaction expected to close during the first quarter of 2019. “LEKTRO provides AeroTech with a more comprehensive and compelling offering of commercial aviation ground support equipment by expanding its range of products into electric towbarless aircraft pushback tractors for narrow body and smaller aircraft. As airlines, ground handlers and airport operators increasingly focus on their environmental footprint and productivity, AeroTech is now well positioned to lead in the market supporting the growing demand for emissions-free ground support equipment,” said Tom Giacomini, JBT’s Chairman, President and Chief Executive Officer. The purchase price will be $48 million before customary post-closing adjustments. LEKTRO is expected to add annual revenue of approximately $35 million. JBT anticipates earnings to be slightly dilutive in 2019 and accretive by $0.03 to $0.05 per share in 2020. JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 5,800 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries.
Rafael Holdings, Inc. announced that it has purchased a majority stake in Rafael Pharmaceuticals, Inc., (Rafael Pharma). Rafael Pharma is a clinical stage, metabolic oncology-therapeutics company developing innovative, highly selective and well tolerated anti-cancer agents. Building on its prior investments, Rafael Holdings further exercised its warrant and converted other interests. The total investment to date from Rafael Holdings in Rafael Pharma securities, inclusive of cash, debt instruments, conversion of notes and contributions from minority beneficial holders, has increased to $66.7 million. The Company and its subsidiaries now hold 51.0% of the outstanding stock of Rafael Pharma. (Exclusive of minority beneficial holders' interests, Rafael Holdings now holds 38.7% of the outstanding equity in Rafael Pharma). Howard Jonas, Chairman and CEO of Rafael Holdings, said, "We continue to invest in Rafael Pharma to support the promising clinical development of its lead drug, devimistat (CPI-613®), as well as other Rafael Pharma agents now in pre-clinical development that have been discovered from its Altered Metabolism Directed platform. As the two companies further align, we strengthen our capacity to leverage their complementary attributes for mutual benefit." Rafael Pharma's first-in-class clinical lead compound, devimistat, is being evaluated in multiple Phase I, I/II, and III clinical studies. Devimistat has been granted orphan drug designation for the treatment of patients with pancreatic cancer, acute myeloid leukemia (AML), peripheral T-cell lymphoma (PTCL), Burkitt lymphoma and myelodysplastic syndromes (MDS) by the US Food and Drug Administration, and for patients with pancreatic cancer and AML by the European Medicines Agency (EMA).
Henry Schein, Inc., the world's largest provider of health care products and services to office-based dental, animal health, and medical practitioners, announced the signing of a definitive agreement to acquire approximately 93 percent of North American Rescue (NAR), the leading provider of survivability and casualty-care medical products to the defense and public-safety markets. Founded in 1996 by CEO Bob Castellani, NAR is headquartered in Greer, South Carolina, and has 105 full-time team members. With nearly 60% of its sales to the U.S. government, NAR generated record sales for the 12 months ended October 31, 2018, of approximately $184 million, reflecting a diversified portfolio of proprietary medical products. This transaction is expected to close in the first quarter of 2019, at which time Mr. Castellani will continue in his role as CEO. NAR will be integrated with Henry Schein Medical, the U.S. medical business of Henry Schein, Inc. Henry Schein expects NAR will be neutral to the Company's 2019 earnings per share and accretive thereafter. Financial terms were not disclosed. "NAR is a successful, growing company with an exceptional team that has created the recognized leader in the markets the company serves," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "We are delighted to welcome Bob Castellani and NAR to Team Schein, and we look forward to expanding our Medical group's geographic footprint, customer base, and product offering both in the U.S. and overseas. Furthermore, through this transaction, Henry Schein Medical will be well-positioned to benefit from a business with solid growth and attractive profit margins."
Rigel Pharmaceuticals, Inc. announced that it has entered into an exclusive license and supply agreement with Spain-based Grifols, S.A to commercialize fostamatinib disodium hexahydrate in all potential indications in Europe and Turkey. Grifols is a global healthcare company and a leading producer of plasma-derived medicines for the treatment of rare and chronic diseases, including intravenous immunoglobulin (IVIG) which is used in the treatment of ITP and AIHA. Fostamatinib is commercially available in the U.S. under the brand name TAVALISSE® (fostamatinib disodium hexahydrate) and is the first and only SYK inhibitor indicated for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. "Grifols has a broad presence in Europe and an established position in the hematology commercial landscape, which supports our goal of bringing fostamatinib to patients in these countries," said Raul Rodriguez, President and CEO of Rigel. "Our marketing authorization application for fostamatinib in chronic ITP is currently under review by the European Medicines Agency, and we anticipate a decision by the end of 2019. This provides a potential opportunity for fostamatinib to begin generating revenue in the European market in 2020." Under terms of the agreement, Rigel will receive a $30 million upfront cash payment, with the potential for $297.5 million in payments related to regulatory and commercial milestones, which includes a $20 million payment for EMA approval of fostamatinib for the treatment of chronic ITP. Rigel will receive significant stepped double-digit royalty payments based on tiered net sales which may reach 30% of net sales. In return, Grifols receives exclusive rights to fostamatinib in human diseases, including chronic ITP, autoimmune hemolytic anemia (AIHA), and IgA nephropathy (IgAN), in Europe and Turkey. In the event that, in 2021, after the second anniversary of the agreement, fostamatinib has not been approved by the EMA for the treatment of ITP in Europe, Grifols will have the option during a six-month time-frame to terminate the entire agreement which would terminate all their rights to ITP, AIHA, and all other indications. In this limited circumstance, Rigel will pay Grifols $25 million and regain all rights to fostamatinib in Europe and other territories. Rigel retains the remaining global rights to fostamatinib outside the Grifols territories and those rights previously granted to Kissei Pharmaceuticals (in Japan, China, Taiwan and the Republic of Korea).
Grifols announces collaboration and license agreement with Rigel Pharmaceuticals
Less than a year since the brand launch, IHG (InterContinental Hotels Group) has signed a management agreement with B&G Estate Co., Ltd. for a new-build voco in Bangkok, Thailand — the first to be announced in South East Asia. When it opens in 2021 voco Bangkok Sukhumvit 11 will offer 300 guest rooms in the heart of Bangkok’s lively Sukhumvit area. Guests will be able to choose from a rich array of food and entertainment options at their doorstep, while enjoying easy access to the city’s other offerings via the Nana BTS station conveniently located nearby. Unveiled last June, voco — inspired by the meaning ‘to invite’ or to ‘come together’ in Latin — combines the informality and charm of an individual hotel with the quality and reassurance of a global and respected brand. The signing of voco Bangkok follows the recent opening of the first voco in the world — voco Gold Coast in Australia, which opened its doors last November. Clarence Tan, Managing Director, South East Asia & Korea, IHG commented: “As the world’s most visited destination, Bangkok represents an excellent launch market for one of the newest additions to our brand portfolio. This signing continues the accelerated growth of the voco brand since we launched it last June. We are excited to expand the presence of this compelling brand across the region, bringing its upscale offerings to more travellers who seek a reliably different guest experience, brought to life through a bold, distinctive identity, informal service style and thoughtful touches along the guest journey.” In addition to dining at the hotel’s all-day dining establishment or soaking up the views at its rooftop restaurant and bar, guests will be able to enjoy the hotel’s other facilities including a swimming pool and pool bar, as well as a fitness centre. The hotel will also be equipped with meeting facilities able to accommodate up to 400 guests, with the largest meeting room capacity of 200 guests. The owner, B&G Estate Co., Ltd., is a Bangkok-based company that owns and operates a retail and corporate property, Interchange 21, and has plans to grow its hospitality portfolio.
The Indian Hotels Company (IHCL), South Asia’s largest and most iconic hospitality company, is introducing the Vivanta brand in the Himalayan Kingdom of Nepal with the opening of Vivanta Kathmandu. This will be the company’s second hotel in the region after Meghauli Serai, A Taj Safaris Lodge in Chitwan National Park. Located in the UNESCO World Heritage Site Patan Darbar Square, the hotel is a perfect gateway to explore the land of yaks and yetis, snow peaks and ancient temples. “We are thrilled to embark on this exciting new venture in Kathmandu which will complete the tourist circuit by providing a stopover to UNESCO listed Chitwan National Park. Nepal offers medieval cities and sacred sites to Himalayan peaks and wildlife safaris, catering to a multitude of experiences. We look forward to working with our partner CG Group on this project, reiterating our commitment to the region,” said Rohit Khosla, executive vice president, operations, north and west India, IHCL. Vivanta Kathmandu houses 110 rooms and is located in the charming Jhamsikhel district. With its enviable setting, urbane rooms and avant-garde restaurants, the hotel is a perfect option for short and long stays. Guests have a choice of distinctive culinary options from Akari, serving pan-Asian cuisine; a rooftop bar Koko, serving bistro-style food; to the whiff of local Newari dishes at Mynt — the all-day diner.
The Indian Hotels Company announces its second hotel in Nepal
Hyatt Hotels Corporation announced the entry of the Hyatt House brand into the Middle Eastern market with the opening of Hyatt House Jeddah Sari Street in the Kingdom of Saudi Arabia. The opening of the Hyatt House hotel is a significant step towards increasing Hyatt’s brand footprint in the extended stay segment and growing Hyatt’s brand presence in the Middle East with innovative hospitality offerings in key locations and gateway cities. The Hyatt House brand is rooted in extensive customer insights which indicate that guests seek casual and authentic hospitality, with purposeful service and seamless experiences that accommodate their lifestyles and familiar routines. This, coupled with a smartly designed, tech-forward and contemporary environment, allows guests to feel at home at Hyatt House properties, whether they are staying for a night or for an extended stay. Hyatt House Jeddah Sari Street is conveniently located in the Al Salamah District, in close proximity to Madinah and Thaliaya Streets, which connects to the Corniche, Jeddah’s coastal resort area. The 102-residentially inspired upscale guestrooms, studio and one-bedroom kitchen suites, along with restaurant, fitness center and prayer rooms, provide the ideal home-away-from-home setting.
InterContinental Hotels Group, one of the world’s leading hotel companies, has opened its 100th Hotel Indigo property globally, Hotel Indigo Berlin East Side Gallery. The brand is set to double its portfolio over the next three to five years and continue its strong growth as one of the largest boutique brands in this fast-growing segment. Established in 2004, Hotel Indigo now has a presence in more than 15 countries with nearly 100 hotels in the pipeline. Currently, the brand has its largest number of hotels in the US, where there are more than 50 hotels, and Europe, where there are almost 30, from Spain to Russia. Together with IHG’s luxury boutique brand, Kimpton® Hotels & Restaurants, IHG’s boutique portfolio makes up almost 170 hotels globally. The boutique hotel sector is the second fastest growing in the industry – only behind the extended stay sector – and is expected to continue to grow at an unprecedented pace. In the coming years, Hotel Indigo is set to debut in more than 10 new countries, including the UAE, Peru, Australia, New Zealand, India, South Korea, Japan and Vietnam, as well as expanding in markets where Hotel Indigo has a significant foothold already, including the US and UK. Just as no two neighbourhoods are alike, no two Hotel Indigo properties are the same, taking inspiration from the area around each hotel to inform all aspects of the guest experience, from the boutique design to locally-inspired restaurants and bars. Some of the Hotel Indigo openings in 2018 included: Hotel Indigo® Berlin – East Side Gallery, Germany: The 118-room hotel takes its design cues from the creative energy of the East Side neighbourhood, marrying raw industrial architecture with retro elements such as graffiti blocks and a bright colour scheme, inspired by the famous Trabi car.
Hotel Indigo celebrates opening in 100 vibrant neighbourhoods around the world
Radisson, one of the best-recognized hotel brands, announced the opening of the newly built Radisson Hotel Oklahoma City Airport located at 4716 West I-40 Service Road. The hotel is only four miles north of Will Rogers World Airport on Interstate 40, with the added convenience of a complimentary airport shuttle running on 30-minute intervals every day. Whether exploring the National Cowboy & Western Heritage Museum, touring the campus of Oklahoma City University, or visiting the Oklahoma City Zoo, guests traveling to the area will find comfort at this new hotel. “The opening of this beautiful hotel demonstrates our five-year strategic plan moving forward, as we continue opening newly constructed, top-notch properties in great locations,” said Aly El-Bassuni, senior vice president, Franchise Operations, Americas, Radisson Hotel Group. “We are proud to welcome this hotel into our growing Radisson portfolio featuring modern designs, great amenities and a caring staff that embraces the brand’s Yes I Can!SM service philosophy.” The hotel offers 101 guest rooms and suites. Guests have access to an onsite fitness center, business center, free Wi-Fi, an outdoor pool and complimentary parking. Small gatherings or business meetings can take place at the hotel’s boardroom-style meeting space, equipped to hold a maximum of 12 guests. The meeting room features free high-speed internet and projector screens, as well as access to onsite catering and an event coordinator.
Alsco is pleased to announce the grand opening of its new Kyle, Texas, mixed laundry plant on Jan. 23, 2019, at 449 Vista Ridge Drive, Kyle, Texas 78640. City Mayor Travis Mitchell, City Manager Scott Sellers, and Alsco leaders will be speaking at the ribbon-cutting event. The Kyle plant will serve the greater Austin, Texas, area. The new facility, which contains 96,000 square feet and sits on approximately 9 acres, will be able to process up to 100,000 pounds per day of linens and uniforms with 100 percent accuracy. Although Alsco has served the greater Austin area for over 25 years, the new facility will allow Alsco to continue to grow its services in the area. It will also bring a positive impact to the City of Kyle, where Alsco will employ 160 full‐time employees to support its operations. The facility also employs cutting‐edge technology to reduce Alsco's impact on the environment. This includes water and energy saving technologies such as the Norchem water filtration system, which will allow the plant to reuse approximately 70 percent of its water and meet the City of Kyle's wastewater standards. After Alsco had chosen the site for its new plant in Kyle, TX, the City of Kyle asked Alsco to participate in the Texas Capital Fund. This fund created an additional opportunity for the city to receive grant money if Alsco met certain requirements. These requirements included spending a certain amount of money on capital improvements and hiring a specific number of full‐time employees. Because Alsco met these requirements, the city received nearly $1 million in grant funds.
As part of its growth, retention and recruitment strategy, sports company PUMA North America, Inc. announced plans to establish a new North American headquarters in Somerville, Mass. in 2021. The new headquarters will bring together two PUMA offices, currently based in Boston and Westford. "We're excited to bring together our talented North American employees in Somerville, a diverse, vibrant city that reflects our values and culture, and will allow us to retain and recruit the best talent across our front and back-end operations," said Bob Philion, President and CEO of PUMA North America. "This new headquarters will allow us to better collaborate, foster diversity of thought, creativity and innovation, and have fun while doing it." The new headquarters, located at 455 Grand Union Blvd., in Somerville, provides the company with five floors of office space totaling 150,000 square feet. PUMA intends to have approximately 550 positions at the location once the move is complete, representing a more than 20 percent growth of its workforce. There will also be a 19,000-square-foot roof deck, complete with a recreational area and basketball court. The facility provides employees access to a state-of-the-art fitness center, an on-location kids room, ample bike storage and a 2,300-square-foot balcony. The new space is steps away from the MBTA Orange Line Assembly Square stop and provides employees easy access to Assembly Row's abundant dining, shopping and health and wellness benefits. PUMA has operated a retail location at Assembly Row since 2014. A long-term lease for the space—a soon-to-be-built 300,000-square-foot building—has been negotiated with developer and landlord Federal Realty Investment Trust. PUMA North America was represented by Michael Joyce at Cushman & Wakefield. Federal Realty was represented by Joe Flaherty at JLL. Assembly Row is easily accessible via Interstate 93 and the MBTA, providing ease of access for the company's urban and suburban employees.
Printful has outgrown its current fulfillment center in Riga and is moving to a new, state-of-the-art facility by May 2019. The new site is under construction at a modern complex close to Printful's logistics partners and the Riga International Airport. At just over 46,000 sq. ft., it's twice as big as their current Rigafacility. Printful's growth in Europe confirms ecommerce predictions for this market. The total revenue forecast for ecommerce in Europe is expected to reach $483.8 billion by 2023, an increase of 40% from 2018. With its investment in a bigger facility, Printful signals its commitment to continue developing this growing market. "Printful is committed to maintain and grow our presence in Europe. We need a bigger facility to help us achieve our goals for the market and cater to customer demand," says Davis Siksnans, Printful CEO. Along with their physical location, the company is also working to enable multiple languages and currencies on their website, and focusing their efforts on building their presence in local markets.
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