LOUISVILLE, Ky., — (NYSE: GE) Spichers Appliance has vowed to responsibly recycle about 10,000 appliances annually through a recycling program championed by GE Appliances. The family-owned, independent retailer based out of Hagerstown, Md., joins the ranks of other large national retailers to support innovative approaches to recycling. Spichers will use the services of ARCA Advanced Processing (AAP), which services GE Appliances in 12 east coast states. Spichers Appliance is the first independent retailer to sign up for comprehensive appliance recycling services in Philadelphia.

“When you step back and look at it from the perspective of the environment and the future, it’s the right thing to do,” says Curt Spicher, owner. “Twenty- and 30-year-old appliances are energy hogs. We need to get these old appliances off the grid.”

What happens when your old refrigerator ends up in a landfill? 55 pounds vs. less than 8 pounds
For those appliances that don’t meet the cosmetic and functioning test for resale, a typical recycler will recover refrigerant and other materials and substances from a used refrigerator and then send it to an industry shredder. Using traditional recycling methods, approximately 55 pounds of a refrigerator ends up in landfills, including the insulating foam and plastics. Using GE Appliances’ Product Recycling Program serviced by AAP, landfill waste is reduced by 85 percent and less than 8 pounds of used appliance material goes into a landfill.
“Where a consumer makes an appliance purchase can now have a powerful environmental impact,” says Brian Conners, president and COO of AAP. “You are making a responsible choice when you purchase from a retailer like Spichers Appliance who is part of a responsible appliance recycling program such as ours.”

According to GE research, three out of four people want all or part of their appliance to be recycled and 82 percent of people are willing to go out of their way and drive additional distances to purchase from a recycling retailer.*
Millions have already been saved from the landfill

Nearly two million appliances have been recycled through GE Appliances’ Product Recycling Program at AAP, diverting approximately 19 million pounds of material from landfills. “We celebrate Spichers Appliance’s decision to collaborate in the recycling initiative,” says Mark Shirkness, general manager, appliances distribution and services. “And invite others to follow their lead in recycling by joining the GE Appliances’ Product Recycling Program.”

In addition to Spichers Appliances’ commitment to the appliance product recycling program, the retailer is also partnered with the Environmental Protection Agency (EPA) on their Responsible Appliance Disposal (RAD) Program. RAD is a voluntary program through the EPA that focuses on innovative and responsible recycling of refrigerant-containing appliances.

GE Appliances
GE Appliances is at the forefront of building innovative, energy-efficient appliances that improve people’s lives. GE Appliances’ products include refrigerators, freezers, cooking products, dishwashers, washers, dryers, air conditioners, water filtration systems and water heaters. General Electric (NYSE: GE) works on things that matter to build a world that works better. For more information on GE Appliances, visit www.ge.com/appliances.

Spichers Appliance
Spichers Appliance is a family-owned discount appliance, electronics, and security systems dealer based in Hagerstown, MD. Since 1955, Spichers Appliance has served customers in Hagerstown, Chambersburg and Winchester markets with low prices on home appliance, electronics, and security systems with top-notch customer service. http://www.spichers.com/
*Based on a 2010 survey conducted by the Stevenson Company on behalf of GE Appliances and Lighting.

At 3M we use science to solve problems. It’s in our DNA. We view global challenges as opportunities to innovate and we are proud to be part of a global solution.

At 3M, we framed our 2025 sustainability goals around shared global challenges. Our ambition, working collaboratively, is to realize a world where every life is improved – where natural resources are reliably available, people everywhere have access to education and opportunity, and communities are safe, healthy, connected and thriving.

17 Sustainable Development Goals
On September 25, 2015, the United Nations released the 2030 Agenda for Sustainable Development, including 17 Sustainable Development Goals designed to build upon the historic work of the Millennium Development Goals and stimulate important action in three dimensions of sustainable development: economic, social, and environmental.

Below are just a few of the ways our goals at 3M are #improvinglives in accordance with, and in support of the 2030 Sustainable Development Goals.
Respect our planet’s resources and reimagine waste as a nutrient to ensure we have abundance for future generations.

Goal: Invest to develop more sustainable materials and products to help our customers reach their environmental goals.
Goal: Reduce manufacturing waste by an additional 10%, indexed to sales.
Goal: Achieve “zero landfill” status at more than 30% of manufacturing sites.
Goal: Drive supply chain Sustainability through targeted raw material traceability and supplier performance assurance.
Promote clean water for everyone, everywhere so that every person, business and community has the water they need to thrive.
Goal: Reduce global water use by an additional 10%, indexed to sales.
Goal: Engage 100% of water-stressed/scarce communities where 3M manufactures on community-wide approaches to water management.
Transform the way the world uses energy because it impacts the climate, and the climate impacts everyone.
Goal: Improve energy efficiency indexed to net sales by 30%.
Goal: Increase renewable energy to 25% of total electricity use.
Goal: Ensure GHG emissions at least 50% below our 2002 baseline, while growing our business.
Goal: Help our customers reduce their GHGs by 250 million tons of CO2 equivalent emissions through use of 3M products.
Improve the health and safety of people worldwide so we can all focus on what matters most to us.
Goal: Provide training to 5 million people globally on worker and patient safety. Proper use of health and safety products is critical to infection prevention, personal safety and overall health. Building on our existing customer education program, we seek to help educate individuals on worker and patient safety in both healthcare and industrial settings.
Support empowerment and enrichment to provide people everywhere the opportunity to live life to its fullest.
Goal: Invest cash and products for education, community and environmental programs.
Goal: 100% participation in employee development programs to advance individual and organizational capabilities.
Goal: Double the pipeline of diverse talent in management to build a diverse workforce.

For more information on sustainability at 3M, please visit 3m.com/sustainability

ST. PAUL, Minn., Aug. 28, 2023 — 3M (NYSE: MMM) today announced the following investor event:

Morgan Stanley 11th Annual Laguna Conference on Wednesday, Sept. 13, 2023. Monish Patolawala, President and Chief Financial Officer, will speak at 10:00 a.m. EDT.
This event will be webcast live and a replay will be available on 3M’s Investor Relations website at http://investors.3M.com.

About 3M
3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what’s possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we’re working to improve lives and make what’s next at 3M.com/news.

Investor Contact:
Bruce Jermeland
(651) 733-1807
or
Diane Farrow
(612) 202-2449
or
Eric Herron
(651) 233-0043

Media Contact:
Tim Post
tpost3@mmm.com

AUSTIN, Texas–Every great innovation starts as an idea. Through a unique culture of collaboration, 3M powers ideas around the world – ideas that make companies smarter, ideas that make homes better, ideas that make life easier. However, no solution would be possible if those ideas did not spark new and dynamic connections among technologies or people. At South by Southwest (SXSW) Interactive, 3M will host the 3M Idea Exchange Lounge to encourage SXSW attendees to connect, collaborate, explore and share ideas forward.

The 3M Idea Exchange will be open March 7-9 from 11am – 6pm at Brush Square Park in Austin, Texas (next to the Austin Convention Center at the intersection of East 4th Street & Trinity). Lounge attendees will have the opportunity to:

Explore some of 3M’s most innovative technologies including:
The newest LED lighting solutions and glass films from 3M’s Architectural Markets business, which mix and manage light to transform spaces.
3M Multi-touch displays powered by innovative applications that allow engaging and collaborative interactive experiences.
3M Quantum Dot Enhancement Film used to make LCD-based smart phones, tablets and televisions more brilliant, with true to life colors and energy efficiency.
3M Novec Fluids – a revolutionary class of environmentally sustainable chemicals that not only provide fire protection and cool data centers, but also clean and coat electronics.
3M adhesives so strong they help hold buildings together.
3M Touch Film that offers new design possibilities for curved and flexible touch screens in devices.
A futuristic outerwear prototype that features various 3M technologies, such as 3M Thinsulate Insulation, 3M Scotchlite Reflective Materials and 3M Scotchgard Protector.
Recharge mobile devices, connect with 3M innovators and other SXSW attendees.
Enjoy free cocktails & cupcakes from 3-6 pm each day.
Receive free samples of Post-it Products and 3M Privacy Screen Protectors, while supplies last.
See a live art demonstration from Amsterdam-based Street Artist, Max Zorn, known for his creative integration of brown Scotch Packaging Tape and light to create portraits.

In the spirit of 3M’s culture of innovation that thrives on the sharing of ideas, 3M will also be rewarding change-makers at SXSW who connect and inspire change for the better in the world, giving away a total of $10,000. Whether it’s an original idea or an idea trending at SXSW, every idea shared via Twitter with #3MIdeaExchange will inflate the 3M Idea Balloon at the lounge space. The SXSW attendees with the ideas that pop the balloon will each win $500. 3M will also be tracking the most popular ideas with an “idea cloud” on display at the 3M Idea Exchange Lounge.
For more information about the 3M Idea Exchange and Official Giveaway Rules, go to 3M.com/sxsw or follow @3MInnovation on Twitter and Vine and @3M on Instagram.

About 3M
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $31 billion in sales, 3M employs about 89,000 people worldwide and has operations in more than 70 countries.

This Press Release is courtesy of www.3m.com

ST. PAUL, Minn., March 25, 2024 — Harnessing the power of best-in-class materials science, 3M is proud to introduce a world’s first innovation to help redefine how the world packs, ships and sells goods across all industries. 3M is launching the first known padded, paper-based curbside recyclable mailer material that businesses can also use to automate their packaging process. This new material called 3M™ Padded Automatable Curbside Recyclable (PACR) Mailer Material is capable of producing packages up to three times faster than manual packing when paired with qualified automated packaging machines.

“3M Science continues to advance and create products that are sustainable and meet stringent performance requirements,” said John Banovetz, 3M’s chief technology officer. “3M is well positioned to tackle some of the world’s biggest challenges, and this includes creating more sustainable and better performing materials to help reduce the impact on our planet.”

This new mailer is made with a single layer of kraft paper that is lightweight, durable and resists moisture penetration. The proprietary padding technology helps to effectively protect against drops, bursts, vibration, and other potential risks incurred during shipping.

It is specially designed to be used with qualified automated packaging machines and is heat sealable with potential dwell times under one second to help facilitate fast and efficient operations. The material is not industry specific and is compatible with a range of printing technologies. It also comes in a wide array of sizes to meet the packaging requirements for all kinds of goods.

For decades, 3M has been an established leader in helping businesses pack and ship reliably. In 2022, the company launched Scotch™ Cushion Lock™ Protective Wrap which is a sustainable alternative to plastic wrap.

About 3M
3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what’s possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we’re working to improve lives and make what’s next at 3M.com/news.

RALEIGH, N.C. & HOFFMAN ESTATES, Ill., – Advance Auto Parts, Inc. (NYSE: AAP) has acquired the DieHard brand from Transform Holdco LLC (“Transformco”), for $200 million utilizing cash on hand.

This asset acquisition will give Advance the right to sell DieHard batteries, the most trusted brand in the automotive battery category, and enables Advance to extend the DieHard brand into other automotive and vehicular categories. In addition, the deal allows Transformco to sell DieHard brand batteries through its existing channels pursuant to a supply agreement with
Advance. Advance is also granting Transformco an exclusive royalty-free, perpetual license to develop, market, and sell DieHard branded products in non-automotive categories.

“We are excited to acquire global ownership of an iconic American brand. DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our Professional customers and Independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category,” said Tom Greco, president and CEO, Advance Auto Parts. “DieHard stands for durability and reliability and we will strengthen and leverage the brand in other battery categories, such as marine and recreational vehicles. We also see opportunities to extend DieHard in other automotive categories. We remain committed to providing our customers with high-quality products and excellent service. The addition of DieHard to our industry leading assortment of national brands, OE parts and owned brands will enable us to differentiate Advance and drive significant long-term shareholder value.”

“DieHard is among the most successful and one of the most widely trusted brands in the auto industry, and we have long believed that the brand has even more potential,” said Peter Boutros, President of Transformco’s Kenmore, Craftsman and DieHard business unit.

“DieHard revolutionized the automotive battery category when it launched in 1967, and has continued to be a leader in the category. Advance Auto Parts’ acquisition of this iconic American brand will complement our plans to introduce new DieHard products in nonautomotive categories such as sporting goods, lawn and garden, authentic work wear and other exciting new categories.”

About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of October 5, 2019, Advance operated
4,891 stores and 152 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,260 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.

About Transformco
Transform Holdco LLC is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve its members – wherever, whenever and however they want to shop. Transformco is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears, Kmart and other retail partners. Transformco operates through its subsidiaries with full-line and specialty retail stores across the United States.

AkzoNobel today announces it has declined a third unsolicited, non-binding and conditional proposal submitted by PPG Industries on April 24, 2017, for all outstanding ordinary shares in the capital of AkzoNobel.

AkzoNobel has concluded its own strategy, presented on April 19, 2017, offers a superior route to growth and long-term value creation and is in the best interests of shareholders and all other stakeholders.

This decision follows considerable in-depth analysis of PPG’s proposal by the Supervisory Board and Management Board of AkzoNobel, working closely with their financial and legal advisors. As part of this process, on May 6, 2017, Ton Büchner, CEO, and Antony Burgmans, Chairman of the Supervisory Board of AkzoNobel, met with Michael McGarry, Chairman and CEO, and Hugh Grant, Lead Independent Director of PPG.

In the execution of their fiduciary duties, the absolute focus of the Boards has been to determine whether the proposal by PPG fits with AkzoNobel’s strategic objectives, is in the best interests of the company and creates long-term value for shareholders and all other stakeholders.

After extensive consideration, the company has concluded that the interests of shareholders and other stakeholders are best-served by its own strategy to accelerate growth and value creation. That strategy set out a clear road map for:

The creation of two focused and high-performing Paints and Coatings and Specialty Chemicals businesses, to enable an acceleration of growth and enhanced profitability
Significantly increased financial guidance for Paints and Coatings and Specialty Chemicals
The clear separation of Specialty Chemicals within 12 months with the vast majority of net proceeds to be returned to shareholders
Increased shareholder returns, including a 50% higher dividend for 2017 and €1 billion special cash dividend payable in November
The creation of significant value for shareholders in the short, medium and long term, whilst also securing the interest of other stakeholders.
The extensive review and the meeting with PPG confirmed to AkzoNobel that its own strategy is better and does not contain the risks and uncertainties inherent in PPG’s proposal. This strategy will build on the existing growth momentum within AkzoNobel and create a step change in value creation for shareholders and all other stakeholders.

PPG’s proposal has been tested on four key areas: value, certainty, timing, and stakeholder considerations.

1. Value

The revised PPG proposal represents a value (cum dividend), as at April 24, 2017, consisting of €61.50 in cash and 0.357 shares of common stock of PPG per outstanding ordinary share of AkzoNobel1.

AkzoNobel’s analysis concludes that PPG’s proposal:

Undervalues AkzoNobel; it fails to provide appropriate value to AkzoNobel shareholders and does not reflect AkzoNobel’s current and future value
Does not include an appropriate change of control premium, which needs to be based on a valuation reflecting AkzoNobel’s strategy, including the recently announced plans to separate Specialty Chemicals and accelerate growth in Paints and Coatings
Implies a value for AkzoNobel’s Paints and Coatings business at a multiple below recent comparable transactions
Contains risks as a result of its stock component
Risks loss of value from regulatory remedies
Risks potential leakage of value through loss of customers, key employees and partners.
2. Timing

AkzoNobel’s strategy contains a clear road map to value creation with a commitment to increase shareholder returns for 2017, create two focused businesses within 12 months and increased financial guidance for 2020.

PPG’s proposal, by contrast, contains no such commitments on timing other than generic statements. Moreover, it contains no explanation of how it would execute the complicated separation of individual businesses within the combined business as likely required by anti-trust authorities and does not address any of the inherent risks and uncertainties.

Recent transactions in the Paints and Coatings, or broader Chemicals sector, suggest the transaction would face complex regulatory hurdles that could take up to of 18 months to complete.

AkzoNobel’s analysis concludes that PPG’s proposal:

Faces complex and lengthy regulatory hurdles which could take up to 18 months to complete
Would require significant time to implement while containing inherent risks of completion
Provides limited visibility in relation to the closing of the transaction and subsequent integration of the two businesses
Would require substantial and complex structural changes and be vulnerable to regulatory-led delays
3. Certainty

PPG has not undertaken an acquisition of this size and is unproven in terms of an integration challenge as complex as the one proposed. This acquisition would be around 8 times the size of any previous acquisition conducted by PPG and more than three times the total value of acquisitions completed by PPG during the past decade.

It has been clear since PPG submitted an initial proposal that anti-trust clearance would play a major part in the deliverability of the proposal, given the significant geographic and segment overlap that exists between the two companies.

PPG provides no clarification on how it would neutralize the anti-trust risks for AkzoNobel stakeholders. The scope and timescale to gain all anti-trust clearances in relation to multiple product segments in multiple markets is not stated by PPG. All of this would expose AkzoNobel to considerable uncertainty over an extended period of time.

Furthermore, the acquisition of AkzoNobel’s Specialty Chemicals business conflicts with PPG’s stated strategy of exiting the Specialty Chemicals market.

AkzoNobel’s analysis concludes that PPG’s proposal:

Requires significant and value-eroding disposals in order to achieve anti-trust approval
Would result in disruption to business momentum and dislocation as a result of forced divestitures of integrated manufacturing facilities and supply chains
Would be subject to significant integration risk.
Conflicts with PPG’s stated strategy of exiting the Specialty Chemicals market
4.Stakeholder considerations

PPG’s statements on the wide range of relevant stakeholder interests do not hold up to scrutiny or adequately address the uncertainties and risks for AkzoNobel stakeholders.

As such, PPG fails to reflect the standards in Dutch public takeovers in relation to securing non-financial covenants, including appropriate representation and veto rights in its Board to safeguard AkzoNobel stakeholder interests.

PPG’s proposals in relation to stakeholder concerns – affecting employees, pensions, location of headquarters, R&D and sustainability – are limited, or describe existing contractual arrangements.

PPG provides no commitments or evidence to support its assertion that employees of AkzoNobel will have any benefit under its ownership, nor does it give any indication how long various existing employee arrangements would remain unaffected and in place. On that point, PPG makes no meaningful commitments at all.

PPG’s failure to provide such guarantees or adjust its projected minimum $750 million synergy target creates widespread anxiety and uncertainty for thousands of jobs across AkzoNobel’s 46,000-strong workforce.

PPG’s statement that it will not relocate any of AkzoNobel’s production facilities from Europe to the US is essentially meaningless given that many AkzoNobel products, by their very nature, are often manufactured and distributed close to the markets they serve. The proposal makes no commitments regarding the potential closure of factories.

In relation to pensions, PPG’s commitment to fulfil AkzoNobel’s current top-up schedule to close the deficit in its UK pension schemes is an offer to respect an existing and ongoing obligation.

Sustainability is at the heart of how AkzoNobel does business. AkzoNobel regards its global leadership in sustainability and commitment to improve the communities in which it operates as an integral part of business success. Customers are increasingly identifying sustainability as a key element of their purchasing decisions. By contrast, PPG lags in the area of sustainability:

AkzoNobel has maintained a top 10 position in the Dow Jones Sustainability Index for the last 11 years
AkzoNobel is ranked considerably higher than PPG in recognized indices including Sustainalytics and Bloomberg ESG
In 2016 alone, AkzoNobel’s Human Cities initiative involved 300 projects impacting over 9 million people. This compares with PPG’s Colorful Communities program which, in the total period since its launch, has impacted 1.8 million people across 60 projects.
AkzoNobel’s analysis concludes that PPG’s proposal:

Creates significant risks and uncertainties for thousands of jobs worldwide
Does not recognize or substantiate any commitments to bridge the significant cultural differences between both companies
Fails to sufficiently address significant stakeholder concerns, uncertainties and risks
Lacks meaningful commitments or solutions customary in major transactions
Conclusion of extensive review

Taking all of the above factors into consideration, including the meeting with PPG, the Boards of AkzoNobel have concluded that PPG’s proposal is not in the best interests of the company, its shareholders and all other stakeholders.

Ton Buchner, AkzoNobel CEO, said:

“As part of our fiduciary duties we conducted an extensive review of the third proposal from PPG. This process included myself and Antony Burgmans meeting with the CEO and lead independent director of PPG to understand their proposal in more detail.

“The PPG proposal undervalues AkzoNobel, contains significant risks and uncertainties, makes no substantive commitments to stakeholders and demonstrates a lack of cultural understanding.

“By contrast, AkzoNobel has outlined a compelling strategy to accelerate growth and value creation which we believe will deliver significant long-term value for our shareholders and all other stakeholders. We will deliver this within a clear timeline, without the substantial level of risks and uncertainties attached to the alternative proposal.

“We have a strong track record of delivering on our commitments and are fully focused on accelerating growth momentum and enhanced profitability with the creation of two focused, high-performing businesses – Paints and Coatings and Specialty Chemicals – which will lead to a step change in growth and long-term value creation for shareholders and all other stakeholders.”

This is a public announcement by AkzoNobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in AkzoNobel N.V.

WASHINGTON, D.C. – The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product.

Name of Product: Sorelle brand “Prescott” fixed-sided cribs

Units: About 130

Retailer/Distributor: Albee Baby, of East Rutherford, N.J.

Manufacturer: Simplicity Inc. (firm is no longer in business)

Hazard: These cribs are re-labeled fixed-sided Simplicity cribs that contain tubular metal mattress-support frames recalled in April 2010. The mattress support frames can bend or detach, causing part of the mattress to drop, creating a space into which an infant or toddler can roll and become wedged, entrapped or fall out of the crib.

Incidents/Injuries: In the April 2010 Simplicity recall, CPSC reported the death of a one-year-old child from Attleboro, Mass. who suffocated when he became entrapped between the crib mattress and the crib frame. In addition, CPSC has received reports of 29 incidents involving the Simplicity cribs where the cribs collapsed due to the metal mattress support frame detaching or bending. These include one child entrapment that did not result in injury and one child who suffered minor cuts when his head struck the broken mattress support bar. CPSC has received one report of a consumer who, in April of 2010, removed the Sorelle Prescott label from the crib and found a Simplicity crib label underneath. (The consumer purchased the crib in July of 2009, prior to the Simplicity mattress support recall.)

Description: These are full-sized fixed-sided cribs sold in an oak finish, as 3-in-1 or 4-in-1 convertible cribs. “Sorelle Furniture” along with the company’s address, the crib’s model number and a manufacturer’s code are printed on a label attached to the headboard or footboard.

Sold at: This recall is limited to Sorelle “Prescott” cribs sold online by AlbeeBaby.com between July 2009 and October 2009 for between $180 and $210.

Manufactured in: China.

Remedy: Consumers should immediately stop using the recalled cribs and contact Albee Baby for a replacement crib, store credit or refund. C&T International/Albee Baby is attempting to directly contact known consumers who purchased the recalled crib online from July 2009 through October 2009. In the meantime, find an alternate, age appropriate, safe sleeping environment for the child, such as a bassinet, play yard or toddler bed.

This Press Release is courtesy of www.cpsc.gov

NEW YORK & HAMPTON, Va.–Leading aerospace manufacturer Alcoa (NYSE: AA) is expanding in Virginia to capture demand for next-generation aircraft engine parts. The Company is investing $25 million at its Alcoa Power and Propulsion facility in Hampton, Virginia to scale-up a breakthrough process technology that cuts the weight of its highest-volume jet engine blades by 20 percent and significantly improves aerodynamic performance.

“We are deploying a state-of-the-art technology that will significantly improve the performance of some of the best-selling jet engines in the world,” said Alcoa Chairman and CEO Klaus Kleinfeld. “This technology and investment further demonstrate how Alcoa is executing on our strategy to aggressively capture demand in the fast-growing aerospace market.”

Alcoa will add equipment for a new production line and modify existing machinery at the Hampton facility to produce the blades. The Company will use the latest in advanced manufacturing technology such as robotics and digital x-ray for enhanced product inspection. The expansion will begin this month and is expected to be complete by the fourth quarter of 2015. The Company expects to add at least 75 new, full-time employees over three years.

Alcoa developed this process technology, called enhanced equiax (EEQ) casting, following five years of research and development at the Alcoa Power and Propulsion Research Center in Whitehall, MI. The Alcoa Technical Center, the world’s largest light metals research and development center based outside of Pittsburgh, PA, also supported this work. Made primarily using nickel-based superalloys, the lighter and more aerodynamically efficient blades can be used to retrofit existing or build next-generation aircraft engines, such as the latest engines for large commercial aircraft, including narrow- and wide-body airplanes. Engines for narrow-body aircraft are among the top selling jet engines in the world.

“Alcoa has been a solid corporate institution in Hampton for 40 years, and this major investment in new technology and the launch of a new product line will ensure the longevity of its operation for decades to come,” said Governor Terry McAuliffe. “Advanced manufacturing is thriving in Virginia, and expansions like this help to diversify our economy and grow jobs of the 21st century. This project is a great testament to Alcoa’s commitment to Virginia, and the advantages of the Commonwealth’s top-rate business environment that helps valued global companies succeed.”

Alcoa will receive approximately $2 million in state and local incentives and an additional $1.3 million exemption on sales and use tax for selecting Hampton, Virginia for this investment.

“Alcoa has been a longtime anchor employer in the City of Hampton. I am extremely pleased that Alcoa chose to expand in Hampton by adding a new advanced manufacturing product line that will generate high-paying jobs,” said Hampton Mayor George Wallace. “Hampton is an excellent city for new and expanding businesses. We are proud of our highly skilled workforce, friendly neighborhoods, excellent schools and quality of life that is incomparable.”

This investment supports Alcoa’s strategy of profitably growing its aerospace business, which had revenues totaling $4 billion in 2013. The Company holds leading market positions in aerospace forgings, extrusions, jet engine airfoils and fastening systems and is a leading supplier of structural castings made of titanium, aluminum and nickel-based superalloys, which are produced by its downstream business, Engineered Products and Solutions (EPS). The Company also holds leading market positions in aerospace sheet and plate produced by its midstream business, Global Rolled Products (GRP). The Company’s value-add businesses, comprising EPS and GRP, accounted for 58 percent of Alcoa’s first quarter 2014 revenues and 76 percent of the Company’s total segment after-tax operating income.

Additional resources: Go to http://www.alcoa.com/hampton for more information, photos and b-roll.

Alcoa in Virginia
Alcoa’s Hampton facility currently employs 650 people who operate two production lines that produce turbine blades for the power generation market and large nickel and titanium structural castings for aerospace engines. In addition, the Alcoa Fastening Systems business has a sales office in Leesburg and Alcoa’s Building and Construction Systems business has a drafting and engineering support office in Harrisonburg.

Reinforcing Alcoa’s commitment to Virginia, and in celebration of the expansion, the Alcoa Foundation has agreed to grant $40,000 to a local nonprofit organization that supports the Alcoa Foundation’s goals of promoting education, including the development of advanced manufacturing skills and environmental sustainability. The Foundation expects to announce the organization that will receive the grant this summer.

About Alcoa
A global leader in lightweight metals engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com,

NEW YORK & BESTWIG, Germany –Lightweight, high-performance metals leader Alcoa (NYSE: AA) today announced that it has completed the acquisition of privately held TITAL. Alcoa closed the transaction, which was announced on December 15, 2014, after receiving all of the required global regulatory approvals.

TITAL is a leading manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. This acquisition strengthens Alcoa’s ability to capture growing demand for advanced aircraft engine components, in particular, those made of titanium. TITAL establishes titanium casting capabilities in Europe for Alcoa, and expands the Company’s aluminum casting capacity. Additionally, TITAL’s strong connections to European engine and aircraft manufacturers such as Airbus, SNECMA, and Rolls-Royce, will enhance Alcoa’s customer relationships in the region and beyond.

“We are combining two leading, innovation-driven businesses to continue increasing Alcoa’s highly differentiated content on the world’s best-selling airplanes and jet engines,” said Olivier Jarrault, Executive Vice President and Alcoa Group President, Engineered Products and Solutions. “This transaction supports our strategy of creating a more profitable future by growing our value-add businesses. Through these efforts, Alcoa will continue delivering greater sustainable value for our customers, employees and shareholders.”

With TITAL, Alcoa is well positioned to capitalize on strong demand growth in the commercial aerospace sector. Alcoa sees a current 8-year production order book at 2014 delivery rates. Almost 70 percent of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. Further, its titanium revenues are expected to increase by 70 percent over the next five years as manufacturers of next-generation jet engines look to titanium solutions for engine structural components. In 2014, TITAL generated revenues of approximately €77 million (approximately US$100 million), more than half of which came from titanium products.

Alcoa is implementing a robust integration plan to support TITAL’s growth and to further improve productivity, primarily driven by procurement, internal metal supply, manufacturing optimization and leveraging Alcoa’s global shared services. TITAL’s business is being integrated into Alcoa’s Engineered Products and Solutions (EPS) segment.

Alcoa Aerospace
Alcoa has been aggressively growing its aerospace business as part of the Company’s broader transformation. In 2014, Alcoa completed the acquisition of global jet engine component leader Firth Rixson. This was the first of two announced acquisitions, including the TITAL transaction. Alcoa also announced investments to expand jet engine parts production in Indiana and Virginia, opened the world’s largest aluminum-lithium facility in Indiana, and in Michigan, plans to expand its coatings capabilities for jet engine components. In addition, the Company announced plans to install advanced aerospace plate manufacturing capabilities in Iowa. It also announced in 2014 supply deals exceeding $2 billion with Boeing and Pratt & Whitney, which included the world’s first forging for an aluminum fan blade for Pratt & Whitney’s PurePower® jet engines. The PurePower engine will be used to power some of the world’s highest volume aircraft, including the next-generation Airbus A320neo.

Alcoa’s aerospace business holds the number one global position in aluminum forgings and extrusions, jet engine airfoils and fastening systems and is a leading supplier of structural castings made of titanium, aluminum and nickel-based superalloys and aluminum sheet and plate. It also holds the number one global position in seamless rolled jet engine rings, engineered from nickel-based superalloys and titanium, and is one of the world’s leading suppliers of vacuum melted superalloys used to make aerospace, industrial gas turbine, oil and gas products and structural components for landing gear applications. It also has entered into a highly specialized segment of jet engine forgings that require isothermal forging technology.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 59,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

NEW YORK & SAO PAULO -Alcoa (NYSE:AA) announced a $40 million investment (100 million BRL) in its Itapissuma, Brazil, rolling mill to increase production of specialty foils for aseptic and flexible packages. Demand for specialty packaging in Brazil is expected to rise seven percent annually over the next three years due to population growth and consumer preference1. The expansion was announced today at the ExpoAlumínio trade show in São Paulo. All additional capacity has been fully committed.

“Alcoa enjoys a leading market position in specialty foil in Latin America where our value-add aluminum is essential for producing highly differentiated packaging,” said Aquilino Paolucci, President of Alcoa Latin American and the Caribbean. “A growing number of consumers prefer this type of packaging because it keeps products fresher, longer and our expansion will enable Alcoa and our customers to capture that rising demand.”

Aseptic and flexible packaging made with specialty foil is the most highly differentiated type of container in packaging. Leading food and beverage companies around the world use aseptic packaging, which allows liquid food products to retain more nutrients and taste, and remain ready for consumption for up to 12 months, even if unrefrigerated. The packages – more than 175 billion of which were delivered globally in 2013 – are typically a mix of materials such as cardboard type paper, plastics and thin aluminum.

The Itapissuma packaging facility is located in the state of Pernambuco, Brazil, which is in the Recife region, and employs approximately 700 people. The expansion is expected to add approximately 50 jobs at the plant following ramp-up of production. Initial work for the expansion is underway and commissioning is expected to begin in 2016.

This investment is part of Alcoa’s ongoing portfolio transformation to build out its value-added mid- and downstream businesses to capture profitable growth. Alcoa’s other value-add businesses in Brazil meet demand for oil and gas products, building and construction systems, fasteners, aluminum truck wheels, and forgings and extrusions.

About Alcoa

A global leader in lightweight metals engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products.

This news is courtesy of www.alcoa.com,

NEW YORK & PITTSBURGH – Lightweight metals leader Alcoa (NYSE:AA) is expanding its R&D center in Pennsylvania to accelerate the development of advanced 3D-printing materials and processes. Alcoa will produce materials designed specifically for a range of additive technologies to meet increasing demand for complex, high-performance 3D-printed parts for aerospace and other high-growth markets such as automotive, medical and building and construction. The $60 million expansion is under construction at the Alcoa Technical Center, the world’s largest light metals research center near Pittsburgh, Pennsylvania.

“Alcoa is investing in the next generation of 3D printing for aerospace and beyond,” said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld. “Combining our expertise in metal alloys, manufacturing, design and product qualification, we will push beyond the limits of today’s additive manufacturing. This investment strengthens our leadership position in meeting fast-growing demand for aerospace components made using additive technologies.”

Demonstrating this integrated strategy, the Company today unveiled its Ampliforge™ process, a technique combining advanced materials, designs and additive and traditional manufacturing processes. Using the Ampliforge™ process, Alcoa designs and 3D-prints a near complete part, then treats it using a traditional manufacturing process, such as forging. The Company has shown that the process can enhance the properties of 3D-printed parts, such as increasing toughness and strength, versus parts made solely by additive manufacturing. Further, the Ampliforge™ process significantly reduces material input and simplifies production relative to traditional forging processes. Alcoa is piloting the technique in Pittsburgh and Cleveland.

The Company’s comprehensive approach to advancing additive manufacturing includes:

Materials Leadership: Alcoa’s material scientists will produce proprietary aluminum, titanium and nickel powders designed specifically for 3D-printing. These powders will be tailored for various additive manufacturing processes to produce higher strength 3D-printed parts, and meet other quality and performance requirements. Alcoa has a long history in metal alloy and powder development, having invented over 90 percent of the aluminum alloys used in aerospace today and with a 100-year history in aluminum metal powder development for rocket fuel, paint and other products.
Combination of Process and Design: Alcoa will further its development of advanced 3D-printing design and manufacturing techniques—such as Alcoa’s Ampliforge™ process—to improve production speeds, reduce costs, and achieve geometries not possible through traditional methods. Direct production of 3D-printed metal parts represents a new way to manufacture aerospace components and requires a new suite of innovative design tools to realize its full potential. By connecting our materials scientists with our manufacturing experts, we enable a rapid development feedback loop to inform new software tools and processes that take full advantage of additive capabilities.
Qualification Expertise: With the industry’s longest-running history of certifying aerospace components and qualifying processes, Alcoa will use its testing and process control expertise to overcome challenges with certifying new 3D-printed parts, starting with aerospace applications.

This expansion of the Alcoa Technical Center builds on Alcoa’s additive manufacturing capabilities in California, Georgia, Michigan, Pennsylvania and Texas. The Company has been creating 3D-printed tools, molds and prototypes for the past 20 years and owns and operates one of the world’s largest HIP (Hot Isostatic Pressing) complexes in aerospace, a technology that strengthens the metallic structures of traditional and additive manufactured parts made of titanium and nickel based super-alloys. Through the recent RTI acquisition, Alcoa gained 3D printing capabilities in titanium, other specialty metals and plastics for the aerospace, oil and gas and medical markets. This expansion positions Alcoa to industrialize its advanced 3D printing capabilities across these and other manufacturing facilities.

Construction of the new facility is expected to be completed in the first quarter of 2016. The project will create more than 100 full-time positions—including materials specialists, design experts, and process and inspection technologists—by 2017 and approximately 45 temporary jobs during construction.

The Pennsylvania Department of Community & Economic Development, Westmoreland County, Upper Burrell Township and Burrell School District have agreed to support the project through a mixture of financial support and tax abatements, resulting in an estimated cost savings of up to $10 million.

About Additive Manufacturing
Additive manufacturing refers to the production of three-dimensional products by depositing one layer of material—such as metals and plastics—on top of another layer, based on a digital model. The process can help increase productivity, help customers bring products to market faster and enable the creation of complex designs not possible using traditional materials and processes.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our more than 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter atwww.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

NEW YORK and COLUMBUS, OH, – Lightweight, high-performance metals leader Alcoa (NYSE:AA) today launched a family of innovative foundry alloys designed to meet the growing need for both part performance and lightweighting in the automotive industry and beyond.

The new alloys – SupraCast™, EZCast™, VersaCast™ and EverCast™ – have undergone extensive trials with major automakers and their suppliers, beating customers’ expectations on strength, thermal performance and corrosion resistance. Compared to incumbent material, they are stronger, lighter weight, and offer at least 20% better fatigue resistance.

“Our expert metallurgists combined with our deep understanding of the automotive industry allow us to anticipate and meet customer needs quickly and effectively,” said Tim Reyes, President of Alcoa Casting. “With this portfolio of patented alloys, we are enabling OEMs and foundries to tailor their parts to meet specific performance objectives—with material that weighs less and performs better than what is currently being used,” he added.

Eck Industries, a premium aluminum castings supplier, is a strong advocate for the new alloys. The company has successfully deployed VersaCast in collaboration with a supplier of cast parts to the motorsports industry and is working with Michigan-based technology development company REL, Inc., for a conformable compressed natural gas (CNG) tank that fits under the vehicle frame, rather than taking up cargo space. The tank was just named “Best in Class” for 2015 by Modern Casting magazine. In addition, Eck Industries has recently completed the casting of engine cylinder heads made from SupraCast, which were successfully tested for force, power and speed, resulting in an order for cast heads using this high performance alloy.

“These foundry alloys from Alcoa open the door to a whole new world of high-performance, lightweight solutions for our customers,” said Andrew Halonen, Sales Engineer of Eck Industries. “The alloys not only perform better than existing materials, they are easy to cast, even for highly complex parts. And that adds value throughout the supply chain,” he added.

Compared to the incumbent material, Alcoa’s new foundry alloys perform exceptionally well across applications currently cast in heavier metals, such as engine components and other critical structural parts. VersaCast, for example, is 40-50% the weight of cast iron, with 50% better resistance to fatigue, making it ideal for the most demanding structural applications. All of the new specialty alloys offer good to excellent castability, weldability and corrosion resistance.

In North America, SupraCast and EZCast have been successfully produced and sold, and both VersaCast and EverCast are currently being qualified by customers. In Europe, EZCast, SupraCast and VersaCast are commercially available.

Announced today at the American Foundry Society’s 119th Metalcasting Congress at the Greater Columbus Convention Center, Alcoa’s four new specialty alloys are each highly customizable with unique benefits:

SupraCast™ – Superior strength at elevated temperatures for high performance power train applications, SupraCast offers thermal conductivity combined with high structural integrity ideal for cylinder heads, connecting rods, turbo chargers, brake calipers, and engine blocks.

EZCast™ – Appreciable yield strength and elongation gains compared to traditional alloys in this space, EZCast is named for the high fluidity, thermal stability and low shrinkage that make it easy to cast and ideal for a variety of different, crash-resistant structural components, including, engine cradles, cross-members, side doors, radiator mounting, engine mounts, sub-frames and shock towers.

VersaCast™ – Outperforming cast iron up to 94% and typical aluminum alloy alternatives by at least 40%, VersaCast is designed to help OEMs achieve optimal performance in the most demanding structural applications while continuing to make vehicles lighter. VersaCast is suitable for automotive, aerospace or military components where high strength is required; its excellent castability allows for complicated shapes.

EverCast™ – A high strength and high fatigue resistant alloy, EverCast is optimized for safety critical components in braking, steering and suspension brackets.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 59,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter atwww.twitter.com/Alcoa and follow us on Facebook atwww.facebook.com/Alcoawww.facebook.com/Alcoa.

NEW YORK– Lightweight metals leader Alcoa (NYSE:AA) today announced it has reached an agreement with the Bonneville Power Administration (BPA) that will help improve the competitiveness of its Intalco smelter. As a result, the smelter will not curtail at the end of the second quarter as previously announced by the Company.

The amendment to the power contract is effective July 1, 2016 through Feb. 14, 2018 and provides for additional access to market power during this period.

This short-term amendment with BPA, combined with the state of Washington’s $3 million budget proviso for workforce training, are key factors in helping Intalco remain competitive. Alcoa thanks Governor Inslee; its federal delegation led by Senators Murray and Cantwell, and Representatives DelBene and Larsen; the state legislative delegation led by Senators Ranker and Ericksen; and BPA for their support.

Intalco Works, located in Washington State, has a capacity of 279,000 metric tons per year.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 58,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

NEW YORK & BESTWIG, Germany—Lightweight, high-performance metals leader Alcoa (NYSE:AA) today announced plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL. The acquisition will strengthen Alcoa’s global position to capture increasing demand for advanced jet engine components made of titanium.

Germany-based TITAL is a leader in titanium and aluminum structural castings for aircraft engines and airframes. Its revenues from titanium are expected to increase by 70 percent over the next five years as manufacturers of next-generation jet engines look to titanium solutions for engine structural components. Titanium can withstand extreme high heat and pressure, and is a lighter weight alternative to steel, providing increased energy efficiency and improved performance. These engines are used on large commercial aircraft, including wide- and narrow-body airplanes. Engines for narrow-body aircraft are among the top selling jet engines in the world.

“This acquisition is the next step in building a powerful aerospace growth engine,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “As a fast-growing innovator, TITAL will increase our share of highly differentiated content on the world’s best-selling jet engines. The company’s talent and customer relationships will boost Alcoa’s expanding global aerospace leadership as we meet the future needs of our customers. We have the highest respect for our future colleagues and look forward to welcoming them wholeheartedly into the global Alcoa family.”

Philipp Schack, CEO of TITAL said, “Alcoa is widely recognized for its innovation and manufacturing expertise, which is fully in line with TITAL’s philosophy. We look forward to joining the Alcoa family, and to combining our world-class technologies and processes. Alcoa was and is our desired partner. We are glad to join this impressive company at an exciting time.”

Transaction benefits

This transaction will further position Alcoa to capitalize on strong growth in the commercial aerospace sector. Alcoa projects a compounded annual commercial jet growth rate of 7 percent through 2019 and sees a current 9-year production order book at 2013 delivery rates. Almost 70 percent of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. In 2013, the company generated revenues of approximately €71 million (US$96 million), more than half of which came from titanium products.

The acquisition will establish titanium casting capabilities in Europe for Alcoa, while expanding its aluminum casting capacity. TITAL’s strong connections to European engine and aircraft manufacturers such as Airbus, SNECMA, and Rolls-Royce, will enhance Alcoa’s customer relationships in the region, and beyond.

TITAL’s engineers are known and highly respected experts in manufacturing advanced, single-piece components, often delivered ready for the customer to install, which lower weight and reduce complexity. These products, such as engine gearboxes, nacelles and fan frames, are used on current and next-generation jet engines and airframes. TITAL will add capabilities in casting titanium airframe structures, such as titanium castings for pylons. Pylons mount engines onto airframes and are a highly-engineered part because they must bear the load of the engine and its thrust.

In addition, TITAL is a leader in process technology. It employs advanced techniques needed to manage titanium’s reactive properties, including cold hearth melting and centrifugal and gravity casting. Its teams also use 3D-printed prototypes, enabling customers to test designs and bring a finished product to market faster.

TITAL employs more than 650 people, primarily in Bestwig, Germany.

The transaction, which has been approved by the Boards of Directors of both companies, remains subject to customary closing conditions and receipt of required regulatory approvals. Alcoa expects to obtain all required regulatory clearances and close the transaction in the first quarter of 2015.

Financial details of the transaction were not disclosed.

Alcoa Aerospace
Alcoa has been aggressively growing its aerospace business as part of the Company’s broader transformation. In November, Alcoa completed the acquisition of global jet engine component leader Firth Rixson, announced in June. This was the first of two announced acquisitions in 2014, including the TITAL transaction. Earlier this year, Alcoa announced investments to expand jet engine parts production in Indiana and Virginia, opened the world’s largest aluminum-lithium facility in Indiana, and in Michigan, plans to expand its coatings capabilities for jet engine components. In addition, the Company announced plans to install advanced aerospace plate manufacturing capabilities in Iowa. It also announced more than $2 billion in supply deals with Boeing and Pratt & Whitney, which included the world’s first forging for an aluminum fan blade for Pratt & Whitney’s PurePower® jet engines. The PurePower engine will be used to power some of the world’s highest volume aircraft, including the next-generation Airbus A320neo.

Alcoa’s aerospace business holds the number one global position in aluminum forgings and extrusions, jet engine airfoils and fastening systems and is a leading supplier of structural castings made of titanium, aluminum and nickel-based superalloys and aluminum sheet and plate. It also holds the number one global position in seamless rolled jet engine rings, engineered from nickel-based superalloys and titanium, and is one of the world’s leading suppliers of vacuum melted superalloys used to make aerospace, industrial gas turbine, oil and gas products and structural components for landing gear applications. It also has entered into a highly specialized segment of jet engine forgings that require isothermal forging technology.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 62,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

About TITAL
TITAL supplies industry leading companies around the world primarily in the field of aerospace and defense systems with sophisticated aluminum and titanium investment casting products using the lost wax process. TITAL was founded in 1974 and in 2006 the management took over the company. Today the company employs about 650 people with 2013 revenue of about €71 million or $96 million.

NEW YORK– Lightweight metals leader Alcoa (NYSE:AA) today announced it will delay the curtailment of its Intalco Works smelter in Ferndale, Washington until the end of the second quarter of 2016. The plant was initially scheduled to curtail by the end of the first quarter.

The Company announced a full curtailment of the Intalco smelter (230kmt) on November 2, 2015, with the plant’s casthouse continuing to operate. However, recent changes in energy and raw material costs have made it more cost effective in the near term to keep the smelter operating to provide molten metal to the plant’s casthouse.

Once all announced curtailments and closures are complete, the Company will have removed approximately 25 percent operating smelting capacity and approximately 20 percent of operating refining capacity by mid-2016, and Alcoa globally will have 2.1 million metric tons of operating smelting capacity and 12.3 million metric tons of operating refining capacity remaining.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

NEW YORK- Lightweight metals leader Alcoa (NYSE:AA) is today announcing that its Board of Directors has unanimously approved a plan to separate into two independent, publicly-traded companies, culminating Alcoa’s successful multi-year transformation. The separation will launch two industry-leading, Fortune 500 companies. The globally competitive Upstream Company will comprise five strong business units that today make up Global Primary Products – Bauxite, Alumina, Aluminum, Casting and Energy. The innovation and technology-driven Value-Add Company will include Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The transaction is expected to be completed in the second half of 2016. At that point Alcoa shareholders will own all of the outstanding shares of both the Upstream and Value-Add Companies. The separation is intended to qualify as a tax-free transaction to Alcoa shareholders for U.S. federal income tax purposes.

Both independent companies will attract an investor base best suited to their unique value proposition and operational and financial characteristics. Both entities will be capitalized prudently, with the Value-Add Company targeting an investment grade rating and the Upstream Company a strong non-investment grade rating. After the separation, the Upstream Company, with its strong history in the aluminum and alumina markets, will operate under the Alcoa name. The Value-Add Company will be named prior to closing.

“In the last few years, we have successfully transformed Alcoa to create two strong value engines that are now ready to pursue their own distinctive strategic directions,” said Klaus Kleinfeld, Chairman and Chief Executive Officer. “After steering the Company through the deep downturn of 2008, we immediately went to work reshaping the portfolio. We have repositioned the upstream business; we have an enviable bauxite position and are unrivalled in Alumina, we have optimized Aluminum, flexed our energy assets, and turned our casthouses into a commercial success story. The upstream business is now built to win throughout the cycle. Our multi-material value-add business is a leader in attractive growth markets. We have intensified innovation, made successful acquisitions, shed businesses without product differentiation, invested in smart organic growth, expanded our multi-materials profile and brought key technologies to market; all while significantly increasing profitability.”

Mr. Kleinfeld concluded, “Inventing and reinventing has defined our Company throughout its 126-year history. With the unanimous support of Alcoa’s Board we now take the next step; launching two leading-edge companies, each with distinct and compelling opportunities, and each ready to seize the future.”

Management Structure and Governance
Upon completion of the transaction, Klaus Kleinfeld will lead the Value-Add Company as Chairman and Chief Executive Officer. He will also serve as Chairman of the Upstream Company for the critical initial phase, ensuring a smooth and effective transition. Each company will have its own independent board of directors that will include members of the current Alcoa Board. Full management teams and boards for both companies will be named in the months leading up to the launch of the two companies in the second half of 2016.

The Upstream Company
After the separation, the Upstream Company will be a cost-competitive industry leader in bauxite mining, alumina refining and aluminum production, positioned for success throughout the market cycle. The company’s footprint will include 64 facilities worldwide, and approximately 17,000 employees. Revenues for the 12 months through June 30, 2015 totaled $13.2 billion, with $2.8 billion in EBITDA. It will be committed to disciplined capital allocation and prudent return of capital to shareholders.

Global aluminum demand is expected to grow 6.5 percent in 2015 and double between 2010 and 2020; so far this decade, global demand growth is tracking ahead of this projection. The Upstream Company will be well-positioned to meet this robust demand.

The Upstream Company’s world-class asset base will include the world’s largest bauxite mining portfolio, with 46 million bone dry metric tons of production in 2014. It has a low 19th percentile position on the global bauxite cost curve. With proximity to owned refinery operations, its mining reserves will provide a consistent supply of low-cost bauxite. Alcoa has been building its third-party bauxite business and is well-positioned to meet growing global demand.

The Upstream Company’s alumina refining system will be the world’s largest, with operations well positioned to serve major adjacent growth markets in Asia, the Middle East, and Latin America. It has a 25th percentile, first quartile position on the global alumina cost curve, with a target to reach the 21st percentile by 2016.

The company will be the world’s fourth largest aluminum producer with a highly competitive second quartile cost curve portfolio. It will have an unrivalled value-add casthouse network in close proximity to customers, and a substantial portfolio of energy assets with power production capacity of approximately 1,550 megawatts with operational flexibility to profit from market cyclicality.

Alcoa has aggressively reshaped its Alumina and Primary Metals segments, closing, divesting or curtailing 1.4 million metric tons, or 33 percent, of total smelting operating capacity since 2007. As a result, Alcoa has dropped eight points on the global aluminum cost curve since 2010 to the 43rd percentile, and is targeting the 38th percentile by 2016. Additionally, Alcoa has secured approximately 75 percent of smelter power needs through 2022.

Alcoa has also steadily grown its offering of differentiated, value-add aluminum products that are cast into specific shapes to meet the needs of customers. The Company has grown total value-add product shipments from its smelters from 57 percent in 2010 to 65 percent in 2014, delivering $1.3 billion in total incremental margin. In 2015, value-add products are projected to represent approximately 70 percent of smelter shipments. Alcoa has also invested in the most advanced, low cost integrated aluminum complex in the world in Saudi Arabia, with the refinery and smelter now fully operational. Alcoa reformed pricing in the alumina market in 2010 by introducing the Alumina Price Index (API) to sell smelter-grade alumina based on alumina market fundamentals rather than London Metal Exchange pricing. In 2014, 68 percent of Alcoa’s total third-party smelter-grade alumina shipments were based on API/spot market pricing. That is projected to grow to approximately 75 percent in 2015. Additionally, the Upstream business has achieved productivity gains of approximately $3.9 billion between 2009 and 2014.

The Value-Add Company
After the separation, the Value-Add Company will be a premier provider of high-performance multi-material products and solutions with 157 globally diverse operating locations and approximately 43,000 employees. Pro-forma revenues for the Value-Add Company for the 12 months through June 30, 2015 totaled $14.5 billion, with $2.2 billion in pro-forma EBITDA.

As Alcoa has transformed, EBITDA margins for the value-add portfolio have increased from 8 percent in 2008 to 15 percent in 2015 on a pro-forma basis for the twelve months through June 30, 2015. The overall contribution of the value-add portfolio to Alcoa’s after-tax operating income has more than doubled from 25 percent in 2008 to 51 percent in 2014. EBITDA margins in the combined downstream segments (Engineered Products and Solutions and Transportation and Construction Solutions) have increased from 14.6 percent in 2008 to 20.9 percent in 2014, and in the midstream (Global Rolled Products) from $108 per metric ton in 2008 to $289 per metric ton in 2014.

The Value-Add Company will be positioned for profitable growth by increasing share in fast growing end markets and leveraging significant customer synergies across the midstream and downstream portfolios. The company will be a differentiated supplier to the high-growth aerospace industry with leading positions on every major aircraft and jet engine platform, underpinned by market leadership in jet engine and industrial gas turbine airfoils, and aerospace fasteners. Approximately 40 percent of the company’s pro-forma revenues for the 12 months through June 30, 2015 came from the aerospace market. The company will also be at the forefront of capturing demand for aluminum intensive vehicles through Alcoa’s recent rolling mill capacity expansions and the commercialization of breakthrough technologies such as the Micromill. Automotive revenues are expected to increase 2.4 times from 2014 to $1.8 billion in 2018. Additionally, the Value-Add Company will be an unparalleled leader in aluminum commercial truck wheels and will hold the number one market position in North American architectural systems. Future profitable growth will be supported by a full pipeline of innovative products and solutions, and the pursuit of investment opportunities that provide a return above the cost of capital.

The Value-Add Company and Upstream Company will have distinct value profiles with the ability to effectively allocate resources and deploy capital in-line with individual growth priorities and cash-flow profiles. As independent entities, each company will be positioned to capture opportunities in increasingly competitive and rapidly evolving markets. The separation will enable both the Value-Add Company and Upstream Company to pursue their own independent strategies, pushing the performance envelope within distinct operating environments.

Conditions and Timing to Close
Alcoa is currently targeting to complete the separation in the second half of 2016. The transaction is subject to certain conditions, including, among others, obtaining final approval by Alcoa’s Board of Directors, receipt of a favorable opinion of legal counsel with respect to the tax-free nature of the transaction for U.S. federal income tax purposes, and effectiveness of a Form 10 registration statement to be filed with the U.S. Securities and Exchange Commission. Alcoa may, at any time and for any reason until the proposed transaction is complete, abandon the separation or modify or change its terms.

Alcoa will hold its third quarter conference call as scheduled on October 8, 2015 at 5:00 PM Eastern Daylight Time to present quarterly results.

About Alcoa
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

RICHMOND, Va.- Altria Group, Inc. (Altria) (NYSE:MO) today announces it signed and closed a $12.8 billion investment in JUUL Labs, Inc. (JUUL), the U.S. leader in e-vapor. The service agreements will accelerate JUUL’s mission to switch adult smokers to e-vapor products. Altria’s investment represents a 35% economic interest in JUUL, valuing the company at $38 billion. JUUL will remain fully independent.

“We are taking significant action to prepare for a future where adult smokers overwhelmingly choose non-combustible products over cigarettes by investing $12.8 billion in JUUL, a world leader in switching adult smokers,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “We have long said that providing adult smokers with superior, satisfying products with the potential to reduce harm is the best way to achieve tobacco harm reduction. Through JUUL, we are making the biggest investment in our history toward that goal. We strongly believe that working with JUUL to accelerate its mission will have long-term benefits for adult smokers and our shareholders.”

“Altria’s investment sends a very clear message that JUUL’s technology has given us a truly historic opportunity to improve the lives of the world’s one billion adult cigarette smokers,” said Kevin Burns, Chief Executive Officer of JUUL. “This investment and the service agreements will accelerate our mission to increase the number of adult smokers who switch from combustible cigarettes to JUUL devices.”

JUUL will remain fully independent and will have access to Altria’s best-in-class infrastructure and services. As part of the service agreements:

Altria will provide JUUL access to its premier innovative tobacco products retail shelf space, allowing JUUL’s tobacco and menthol-based products to appear alongside combustible cigarettes. JUUL’s flavored products will continue to only be available on JUUL.com.
Altria will enable JUUL to reach adult smokers with direct communications through cigarette pack inserts and mailings to adult smokers via Altria companies’ databases.
Altria will apply its logistics and distribution experience to help JUUL expand its reach and efficiency and JUUL will have the option to be supported by Altria’s sales organization, which covers approximately 230,000 retail locations.
An Extraordinary E-vapor Company with a Strong Product Pipeline

Fueled by its unique and innovative Silicon Valley approach to product development and founded by former smokers, JUUL has rapidly built an industry-leading position by satisfying adult tobacco consumers with its differentiated e-vapor products.

JUUL has quickly grown both revenue and share, and today represents approximately 30% of the total U.S. e-vapor category.1 JUUL has a deep innovation pipeline and currently operates in eight countries, with rapid international expansion plans.

“This is a unique and compelling opportunity to invest in an extraordinary company, the fastest growing in the U.S. e-vapor category. We are excited to support JUUL’s highly-talented team and offer our best-in- class services to build on their tremendous success,” added Willard.

Advances Altria’s Long-Term Tobacco Harm Reduction Goal

In 2000, Altria became the first and only company in the industry to support FDA regulation of tobacco products, an important step to providing accurate and scientifically-grounded communications about reduced-risk products to smokers.

Today, the FDA has regulatory authority over all tobacco products, and the FDA distinguishes between the harm associated with combustible versus non-combustible products.

Altria will participate in the e-vapor category only through JUUL. The investment complements Altria’s non-combustible offerings in smokeless and heat-not-burn, upon FDA authorization of IQOS.

Commitment to Underage Tobacco Prevention

Altria and JUUL are committed to preventing youth from using any tobacco products. As recent studies have made clear, youth vaping is a serious problem, which both Altria and JUUL are committed to solve. As JUUL previously said, “Our intent was never to have youth use JUUL products. But intent is not enough, the numbers are what matter, and the numbers tell us underage use of e-cigarette products is a problem.”

As a result, JUUL recently began implementing a number of actions to prevent underage vaping, including stopping the sales of flavored products to retail stores, enhancing age-verification for its online sales, eliminating social media accounts and developing further technology solutions.

JUUL believes that it cannot fulfill its mission to provide the world’s one billion adult smokers with a true alternative to combustible cigarettes if youth use continues unabated. Together, JUUL and Altria will work to prevent youth usage through their announced initiatives, further technological developments and increased advocacy for raising the minimum age of purchase for all tobacco products to 21.

Positioning Altria for Long-Term Growth

Building on Altria’s previously announced growth investment in Cronos Group Inc. (Cronos Group), Altria believes its investment in JUUL strengthens its financial profile and enhances future growth prospects.

Altria continues to position its business to return value for shareholders over the long-term through earnings growth and dividends. Altria expects its growth to be driven by maximizing income from its wholly-owned operating companies and increasing contributions from its equity and strategic investments. Altria’s service companies will contribute their strong capabilities to enhance value creation in both its wholly-owned subsidiaries and, when appropriate, its investments.

Strategic Rationale

Provides significant stake in the largest and fastest growing e-vapor company with a highly-talented management team, successful in-market products and strong innovation pipeline.
JUUL will remain independent and retain complete operational autonomy to capitalize on its entrepreneurial success.
Provides exposure to strong revenue and volume growth opportunity with attractive unit economics.
Investment in the leading U.S. e-vapor company complements Altria’s non-combustible product portfolio.
Exposure to significant international growth plans and global e-vapor profit pool.
Better positions Altria with adult smokers interested in alternatives while continuing to compete vigorously in all other tobacco product markets.
Key Transaction Terms

Altria signed and closed an agreement with JUUL, the U.S. leader in e-vapor, to invest $12.8 billion in cash for non-voting convertible common shares of JUUL, representing 35% of JUUL’s outstanding capital stock as of the closing date.
As part of this investment, JUUL signed service agreements with Altria to accelerate its mission to switch adult smokers. Proceeds will be used to return capital to employees and shareholders and create a fortified $1 billion balance sheet to expedite product development and market access.
Upon antitrust clearance, Altria’s 35% non-voting shares will automatically convert to 35% voting shares, and Altria will be able to appoint directors representing one-third of JUUL’s Board of Directors.
Altria receives a broad pre-emptive right to purchase shares to maintain its ownership percentage.
Altria will be subject to a standstill agreement under which it may not acquire additional JUUL shares above its 35% interest. Altria agrees not to sell or transfer any JUUL common shares for six years from closing.
Altria will participate in the e-vapor business only through JUUL as long as Altria is supplying JUUL services, which Altria is committed to doing for at least six years.
A copy of the Purchase Agreement will be filed with the Securities and Exchange Commission (SEC) on Form 8-K.

Financing

Altria financed the JUUL stock purchase through a $14.6 billion term loan facility arranged by JPMorgan Chase Bank, N.A. $1.8 billion of the facility remains undrawn and may be used by Altria to finance its recently announced investment in Cronos Group. Altria may consider seeking permanent financing in the future.

Financial Implications

Accounting Treatment

Altria will initially account for its JUUL investment as an investment in an equity security. Upon antitrust clearance, Altria expects to account for its investment in JUUL under the equity method of accounting.

Cost Reduction Program

Altria also announces today a cost reduction program designed to deliver approximately $500 million to $600 million in annualized cost savings by the end of 2019. This program will include, among other things, reducing third-party spending across the business and workforce reductions. Altria expects this program to offset most of the interest expense associated with the debt incurred to finance the JUUL and Cronos Group investments.

Altria estimates total pre-tax restructuring charges in connection with the cost reduction program to be in a range of approximately $230 million to $280 million, or $0.09 per share to $0.11 per share, the majority of which is expected to be recorded in the fourth quarter of 2018. The estimated charges, substantially all of which will result in cash expenditures, relate primarily to employee separation costs of approximately $190 million to $220 million and other costs of approximately $40 million to $60 million.

The estimated charges do not reflect the non-cash impact that may result from pension settlement and curtailment accounting.

ROSSLYN, VA., A new study released today confirms the growing importance of the domestic aluminum industry to the U.S. economy. Research conducted by economic research firm John Dunham & Associates found that the U.S. aluminum industry directly employs more than 155,000 workers and generates $65 billion in economic output in all 50 states and the District of Columbia.

According to the study, for each aluminum industry job an additional 3.3 jobs are created elsewhere in the economy for a total of 672,000 jobs. When supplier and induced impacts are taken into account, the industry has an economic footprint of more than $152 billion – nearly 1% of Gross Domestic Product.

Other key findings from the report include:

Workers directly employed by U.S. aluminum industry earned more than $12 billion in wages and benefits in 2013.
Indirect employment by the industry creates another $29 billion in wages and benefits.
When all employment supported by the industry is taken into account, these jobs generate nearly $16 billion in federal, state and local taxes.
These workers earn average compensation of more than $60,000, far exceeding the national average of $43,000.
“As an integral part of the U.S. manufacturing base and overall economy, the aluminum industry supports hundreds of thousands of high quality manufacturing jobs in communities of all sizes,” said Layle “Kip” Smith, President and CEO of Noranda and Chairman of the Aluminum Association. “Aluminum is a vital material for the modern era and a bellwether for domestic manufacturing.”

The Aluminum Association last released an economic impact study based on 2009 data that reported 106,000 jobs directly supported by the aluminum industry. The new study uses an improved methodology in order to more fully capture the industry’s footprint. The new methodology is based on company specific microdata rather than aggregate data from the Bureau of the Census. Microdata captures the actual physical locations of all the firms in the different facets of the industry, whereas Census Data only captures the broad-based employment numbers, generally only from the largest firms. The new results show significant job growth in a number of key areas:

4X increase in secondary smelting and alloying jobs (4,500 vs. 16,800)
73% increase in sheet, plate, foil and extruded products jobs (32,500 vs. 56,200)
23% increase in foundries jobs (29,600 vs. 36,400 jobs)
“It’s encouraging to see that, as an industry, we’re growing,” said Heidi Brock, President of the Aluminum Association. “As the country recovers from the recession, we’re seeing demand for our product bouncing back – up 30 percent since 2009. Lightweight, durable and highly recyclable, aluminum is a metal uniquely suited to the 21st century.”

The study was completed by economic research firm John Dunham & Associates and is based on data provided by Dun & Bradstreet, Inc., the federal government and the Aluminum Association. The analysis uses the Minnesota IMPLAN Model to quantify the economic impact of the aluminum industry on the overall U.S. economy.

For the purposes of the report, the aluminum industry is defined to include alumina refining; primary aluminum processing; secondary aluminum smelting and alloying; manufacturing of aluminum sheet, plate, foil, extrusions, forgings, coatings, and powder; aluminum foundries; metals service centers, and wholesalers. The study measures the number of jobs in this industry, the wages paid to employees, total economic output, and federal and state business taxes generated.
Courtesy of The Aluminium Association

Dubai, UAE; GE (NYSE: GE) and Aluminium of Greece (AOG), a Mytilineos Group subsidiary, today signed a 10-year agreement in Dubai, the United Arab Emirates, to implement global first-of-their-kind digital smelter solutions for AOG to enhance its aluminium smelting process and contribute to increased operational efficiency and productivity.

The digital solutions are a significant step in charting the next generation of smelting operations globally. The agreement was signed by Dimitris Stefanidis, CEO of Aluminium of Greece and Joseph Anis, President & CEO of GE’s Power Services business in the Middle East and Africa, in the presence of senior officials of both companies in Dubai.

“As the largest vertically integrated bauxite, alumina and aluminium production and trading unit in the European Union, we are constantly looking at innovative technologies to enhance our performance standards. The application of digital industrial solutions is a remarkable opportunity to achieve process optimization across our operations and to push productivity levels,” said Dimitris Stefanidis. “With GE’s digital smelter solutions, we are setting a global first for the aluminium industry that will contribute to our operational efficiency and set new benchmarks in the sector.”

Underlining GE’s strong global collaboration, digital strength and industrial know-how, the digital solutions for smelting operations are being created by a team of engineers and developers based in San Ramon, USA; GE Power’s Digital Smelter Center of Excellence (COE) in Dubai, UAE; and GE’s Global Research Center in Bangalore, India. The project will be executed by the team based at the COE in Dubai, while the facility that the solutions will be implemented at is located in Agios Nikolaos, Viotia, Greece.

“GE has been at the forefront of digitizing the future of industry globally and in the region, providing digital industrial solutions for power generation and the LNG industry, among others” said Joseph Anis. “By bringing together the strengths of our multi-locational teams and GE Power’s Digital Smelter Center of Excellence in Dubai, we will collaborate with AOG to create a new chapter in the history of smelting operations as well.”

GE has supported AOG’s growth and development over the decades, having supplied it with advanced technologies and signing multi-year agreements to cover the maintenance of gas turbines and associated generators.

The digital solutions will operate in the cloud, powered by Predix*, GE’s operating system for the Industrial Internet. Virtual sensors will facilitate the ongoing evaluation of parameters such as temperature and chemistry that are not ordinarily monitored continuously. This, in turn, will help to anticipate the health and condition of the pot, providing timely monitoring reports on the operations of the plant.

“We will be able to recreate an actual smelter using artificial intelligence and physics-based models,” stated Bhanu Shekhar, Chief Digital Officer for GE Power in the Middle East and Africa. “This is a living digital model that will continuously generate smelter data, and will be a game changer in helping to address the challenges of power usage and the consumption of raw materials in the smelting industry.”

“The application of the digital smelter solutions will contribute to the operational efficiency improvement of the Aluminium of Greece, by lowering raw materials’ consumption, decreasing energy consumption, and reducing pot leakages,” concluded Dimitris Stefanidis.

GE’s digital solutions for aluminium smelting can help unlock a new era of productivity for this critical industry in Europe, the Gulf Cooperation Council (GCC) and beyond. A one percent increase in efficiency of aluminium smelter operations can contribute to an annual global savings of US$970 million across the total cost of production, US$936 million in output increase, and US$464 million in operations and maintenance costs. In the GCC region alone, the same one percent increase translates into US$28 million in savings on operations and maintenance. Today, the region’s aluminium smelting industry accounts for up to ten percent of the world’s total production, and GE has a strong history of leadership in the sector to enhance competitiveness, efficiency and sustainability for customers.

-ends-

About Mytilineos Group:
Mytilineos Group is a leading Greek industry active in Metallurgy & Mines, Energy and EPC Projects. Established in Greece in 1990, the Group’s holding company, MYTILINEOS HOLDINGS S.A., is listed on the Athens Exchange, has a consolidated turnover in excess of €1.3 billion and employs directly or indirectly more than 2,700 people in Greece and abroad. www.mytilineos.gr

About GE:
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Power:
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable. www.gepower.com. Follow us on Twitter @GE_Power.

CINCINNATI — Today, Always® and Walmart® in collaboration with America’s Promise Alliance – the nation’s largest organization dedicated to improving the lives of young people – launched their latest Live #LikeAGirl program to help girls grow in confidence and reach their full potential. A recent Always Confidence & Puberty Survey revealed that nearly 1 in 5 U.S. girls miss school because they do not have access to the period products they need. But it’s not just school they miss, it also means they miss out on activities they love, which can ultimately have a huge impact on their overall confidence. The program will provide girls’ teams across all 50 states with a year’s worth of pads to help them stay in the extracurricular activities that are crucial to their mental and emotional development.

The program was kicked off in Florida, where Always and Walmart recently worked with a local martial arts studio that serves girls in need. See an emotional view of the teams’ experience with Always’ and Walmart’s donation efforts and hear directly from the girls impacted here: https://youtu.be/MZBrna5E0u4

Always understands that puberty can be a difficult and confusing time when girls’ confidence may plummet, with the onset of menstruation marking the lowest moment for many girls. This decrease in confidence is so much worse for girls that lack access to period protection, which is often referred to as “period poverty.” Period poverty can force her to miss out on important confidence-building experiences in the classroom or in after-school activities. These activities should be something to look forward to, and not something a girl loses out on because she doesn’t have access to period products. Missing out on things like this can limit her from reaching her full potential during puberty and beyond.

“We’re so excited to help ensure that fewer girls miss the extracurricular activities they enjoy most due to lack of access to period products,” shared Marty Vanderstelt, North America Always Brand Director. “We know that this is a crucial life stage for young women and, with the support of Walmart, we want to help them have every opportunity to continue to grow and become whoever they want to be.”

The program is a continuation of Always’ #EndPeriodPoverty program that launched nationally in August last year. Now, with the support of Walmart, Always is donating a year’s worth of period products to 50 girls’ teams in need across the 50 states. The #EndPeriodPoverty campaign has also worked in close collaboration with America’s Promise Alliance, which has leveraged its network of non-profit organizations, government organizations, and businesses to help identify and connect the campaign with the 50 teams of participating girls across the country. Leaders from each team will be coached by top medical and confidence experts to help better prepare them to support girls’ needs at this stage in life.

About Always
Always®, the world’s leader in feminine protection, offers a wide range of feminine pads, wipes and liners designed to fit different body types, period flows and preferences. For over 35 years, Always has been empowering millions of girls globally through puberty and confidence education, and the provision of products to girls in need. More recently, the Always #LikeAGirl campaign has furthered these efforts by helping tackle key societal barriers to girls’ confidence. Together, Always believes we can create a world where puberty is a moment that propels girls forward into confident womanhood. Please visit www.always.com for more information.

In 2016, Always was proud to announce that all feminine care owned production sites have achieved zero manufacturing waste to landfill. Please visit https://us.pg.com/environmental-sustainability/ for more information.

About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

About America’s Promise Alliance
America’s Promise Alliance is the nation’s largest network dedicated to improving the lives of children and youth. The Alliance brings together more than 450 national organizations and thousands of community leaders to focus the nation’s attention on young people’s lives and voices, lead bold campaigns to expand opportunity, conduct groundbreaking research on what young people need to thrive, and accelerate the adoption of strategies that help young people succeed. GradNation, a signature campaign, has helped to increase the nation’s high school graduation rate to a record high. In the past 12 years, an additional 2 million young people have graduated from high school. Please visit www.americaspromise.org for more information.

SANTA CLARA, Calif., June 20, 2023 (GLOBE NEWSWIRE) — Applied Materials, Inc. today announced the publication of its latest Sustainability Report, detailing its ESG (environmental, social and governance) initiatives and results over the past year. The report highlights the impact of the company’s ESG efforts within its own organization, with its suppliers and customers and on the global electronics ecosystem.

“Applied Materials is at the forefront of semiconductor technologies that play an ever-increasing role in our lives,” said Gary Dickerson, President and CEO of Applied Materials. “As we bring transformative new innovations to market, we are working closely with our suppliers and customers to minimize our environmental impact by reducing our products’ resource consumption and carbon emissions. We are also continuing our strong commitment to a culture of inclusion at Applied where everyone has an equal opportunity to contribute and grow in their careers.”

Driven by the rise of artificial intelligence (AI) and a sharp increase in the number of smart, connected devices, the market for semiconductors is projected to approximately double and reach $1 trillion over the next decade. It is imperative for the chip manufacturing ecosystem to work collaboratively to decouple this expected growth from the industry’s carbon emissions.

In 2022, Applied continued to make progress in reducing its carbon footprint, achieving 100-percent renewable electricity use in the U.S. and 69 percent globally, resulting in a 3-percent reduction from its 2019 baseline in the company’s Scope 1 and Scope 2 emissions – those produced directly by the company and by the energy it purchases. During the same period, Applied’s energy consumption rose by approximately 13 percent, which demonstrates the company’s progress in decoupling emissions growth from business growth. Recognizing the need to redouble its efforts in the future, Applied submitted science-based reduction targets for its Scope 1, 2 and 3 emissions – those generated across the entire value chain – to the Science Based Targets initiative (SBTi), and the company set a new goal to reduce its Scope 3 – Category 11 (use of sold products) emissions per wafer across new semiconductor products by 55 percent by 2030 (from its 2019 baseline).

To help drive global demand for renewable electricity across the industry and expedite the transition to a low-carbon future, Applied is collaborating with key customers and engaging in industry coalitions. Applied is a founding member and governing council member of the Semiconductor Climate Consortium as well as a member of imec’s Sustainable Semiconductor Technologies and Systems (SSTS) Program, the RE100 and the Clean Energy Buyers Alliance (CEBA).

At the core of Applied’s commitment to build a culture of inclusion is the belief that having a workforce representing different perspectives, backgrounds and experiences is essential to delivering world-class innovations. Over the past year, Applied took steps to instill diversity, equity and inclusion (DEI) best practices across the company, made progress towards its DEI goals, and set new 2030 targets to further increase the representation of women globally and underrepresented minorities (URM) in its U.S. workforce.

Applied Materials has been reporting on social responsibility and environmental matters since 2005. The company’s latest Sustainability Report and Annex reflect activities and results through the end of fiscal year 2022. To access the full reports and learn more about Applied’s environmental actions as well as the company’s efforts to advance its culture of inclusion and human rights initiatives, please visit the Reports and Policies page of our website.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977

Source: Applied Materials, Inc.

SANTA CLARA, Calif — Applied Materials, Inc. today announced a new addition to its highly successful Centris® Sym3® etch product family that now enables chipmakers to precisely pattern and shape ever-smaller features in leading-edge memory and logic chips.

Applied Materials Centris® Sym3® Y Etch System.
The new Centris Sym3® Y is Applied’s most advanced conductor etch system. It uses innovative RF pulsing technology to provide the extremely high materials selectivity, depth control and profile control needed by customers to create densely packed, high-aspect-ratio structures in 3D NAND, DRAM and logic, including FinFETs and emerging gate-all-around architectures.

A unique technical feature of the Sym3 family is a high-conductance chamber architecture that provides exceptional etch profile control by quickly and efficiently exhausting the etch byproducts that can accumulate with each wafer pass. The Sym3 Y system extends the benefits of this successful architecture with a proprietary new coating material that protects critical chamber components, thereby further reducing defects and enhancing yields.

First introduced in 2015, the Sym3 etch system has become Applied’s fastest ramping product in company history, and the company has just shipped the 5,000th chamber.

The Sym3 family is key to Applied’s strategy of giving customers new ways to shape and pattern materials, enabling novel 3D structures and new ways to continue 2D shrinking. Applied is co-optimizing the Sym3 system with unique CVD patterning films, enabling customers to increase the layers in 3D NAND memory devices and reduce the number of steps needed in the quadruple patterning of DRAM layers. These are being deployed along with Applied’s e-beam inspection and review technologies to accelerate R&D and high-volume ramps of the industry’s most advanced nodes, helping customers improve chip power, performance, area-cost and time to market (PPACt).

“Applied took a clean-sheet approach to conductor etch with the Sym3 system launch in 2015 and solved some of the most difficult etch challenges in 3D NAND and DRAM,” said Dr. Mukund Srinivasan, vice president and general manager, Semiconductor Products Group at Applied Materials. “Today, we are seeing strong momentum and growth in critical etch and EUV patterning applications in the most advanced memory and foundry-logic nodes, and we will continue raising the bar and enabling next-generation chip designs.”

Each Sym3 Y system consists of multiple etch and plasma clean wafer processing chambers governed by system intelligence that ensures every process chamber is precisely matched, enabling repeatable results and high productivity. The new system is already being used by multiple leading NAND, DRAM and foundry-logic customers worldwide.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.appliedmaterials.com.

SANTA CLARA, Calif., – At the SPIE* Advanced Lithography conference in San Jose, Calif., Applied Materials, Inc., today announced the industry’s first in-line 3D CD SEM* metrology tool for solving the challenges of measuring the high aspect ratio and complex features of 3D NAND and FinFET devices. The new Applied VeritySEM® 5i system offers state-of-the-art high-resolution imaging and backscattered electron (BSE) technology that enable exceptional CD control in-line. Using the VeritySEM 5i system can speed up chipmakers’ process development and production ramp, and improve device performance and yield in high-volume production.

“Complex 3D structures require new measurement dimensions, increasing the demands placed on metrology technologies,” said Itai Rosenfeld, corporate vice president and general manager of Applied’s Process Diagnostics and Control group. “Continuing to rely on traditional CD SEM techniques to measure 3D devices is virtually impossible. Offering imaging innovations based on Applied’s expertise in advanced e-beam technology and image processing for fast, accurate on-device CD SEM metrology, allows our customers to see, measure and control their 3D device during R&D, ramp and volume production. Multiple customers using the tool are already benefiting from better yields with these new 3D devices. This system should continue to set the benchmark for the industry as chipmakers require new precision materials engineering capabilities to transition to 3D architectures and scale beyond the 10nm node.”

Innovations in metrology precision are needed to improve device performance, reduce variability and boost yields of increasingly intricate high-performance, high-density 3D devices. An advanced high-resolution SEM column, tilted beam and BSE imaging give the VeritySEM 5i system its unique 3D metrology capability to measure and monitor the most vital and challenging FinFET and 3D NAND structures in-line. Specifically, BSE imaging for via-in-trench bottom CD enables chipmakers to ensure connectivity between underlying and overlaying metal layers. For controlling FinFET sidewall, as well as gate and fin height, where the smallest variation impacts device performance and yield, the VeritySEM 5i tool’s tilt-beam provides exact, repeatable in-line measurements. High-resolution BSE imaging enables continued vertical scaling through enhanced sensitivity for measuring the asymmetrical sidewall and bottom CDs of 3D NAND devices with very high aspect ratios reaching up to 60:1 and beyond.

Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in precision materials engineering solutions for the semiconductor, flat panel display and solar photovoltaic industries. Our technologies help make innovations like smartphones, flat screen TVs and solar panels more affordable and accessible to consumers and businesses around the world. Learn more at www.appliedmaterials.com.

ROLLE, Switzerland, – Archer Daniels Midland Company (NYSE: ADM) has signed a Joint Business Development Plan (JBDP) to continue to grow its relationship as an oils and fat supplier for Unilever (NYSE: UN) in Europe, North America and Africa.

The JBDP defines the long-term strategy and goals for the relationship and provides a clear framework for how ADM and Unilever will work together to achieve those objectives. It also sets measurable goals around volume, new product development, growth, innovation and sustainability.

The JDBP will help advance existing cooperation between the two companies, such as the ADM/Unilever Soybean Sustainability Program in the United States, through which ADM sources and processes sustainable soy beans and supplies Unilever with oil for Hellmann’s Mayonnaise; and ADM and Unilever’s partnership with LEAF (Linking Environment and Farming) in Europe, which promotes sustainable agricultural practices at the farm level to produce sustainable rapeseed oil for Unilever’s Flora spreads, as well as for Hellmann’s UK. The JDBP will also strengthen ADM’s existing European sustainability initiatives, particularly in Central and Eastern Europe, enhancing the company’s supply chain to provide Unilever with more sustainably-produced oils and fats products.

“ADM’s end-to-end value chain allows us control of our product flow in ways that few in the industry can offer,” said Matt Jansen, ADM senior vice president and president, Oilseeds. “Strengthening our existing partnership with Unilever will allow us to build upon those capabilities and leverage our unique supply chain to continue to provide high-quality, sustainable ingredients and innovative solutions to Unilever and their customers.”

“Programs like the ADM/Unilever Soybean Sustainability Program and our joint partnership with LEAF are great examples of how we can creatively work together to deliver unique solutions for sustainable sourcing, and the JBDP will help advance that type of innovation between our companies,” said Amit Mohta, VP Procurement Commodities, Unilever. “We look forward to continuing to grow and expand our partnership with ADM.”

About Unilever
Unilever is one of the world’s leading suppliers of Food, Home and Personal Care products with sales in over 190 countries. We work with 174,000 colleagues around the world and generated annual sales of €49.8 billion in 2013. Over half of our company’s footprint is in the faster growing developing and emerging markets (57% in 2013). Working to create a better future every day, we help people feel good, look good and get more out of life. Our portfolio includes some of the world’s best known brands, 14 of which – Knorr, Persil / Omo, Dove, Sunsilk, Hellmann’s, Surf, Lipton, Rexona / Sure, Wall’s ice cream, Lux, Flora / Becel, Rama / Blue Band, Magnum and Axe / Lynx – now generate a turnover of €1 billion or more.

Our ambition is to double the size of our business, whilst reducing our overall environmental footprint (including sourcing, consumer use and disposal) and increasing our positive social impact. We are committed to helping more than a billion people take action to improve their health and well-being, sourcing all our agricultural raw materials sustainably by 2020, and decoupling our growth from our environmental impact. Supporting our three big goals, we have defined nine commitments, underpinned by targets encompassing social, environmental and economic areas. See more on the Unilever Sustainable Living Plan at www.unilever.com/sustainable-living/.

Unilever has been ranked number one in their sector in the 2014 Dow Jones Sustainability Index. included in the FTSE4Good Index Series and attained a top environmental score of 5, leading to inclusion in the FTSE4Good Environmental Leaders Europe 40 Index. Unilever has been named sector leader of the CDP’s Forests programme for three consecutive years, and in 2014 led the list of Global Corporate Sustainability Leaders in the GlobeScan/SustainAbility annual survey – for the fourth year running. In 2014 Unilever was named in LinkedIn’s Top 3 most sought-after employers in all sectors for the second year running, and also LinkedIn’s No. 1 most sought-after FMCG employer worldwide.

About ADM
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 470 crop procurement locations, 285 ingredient manufacturing facilities, 40 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, chemical and energy uses. Learn more at www.adm.com.

To compete in an increasingly global economy, the United States must come up with innovative strategies that will lead to economic growth and job creation around the country. The ‘Investing in Manufacturing Communities Partnership’ (IMCP) seeks to enhance the way we leverage federal economic development funds to encourage American communities to focus not only on attracting individual investments one at a time, but transforming themselves into globally-competitive manufacturing hubs.

An administration-wide initiative led by the White House and the U.S. Department of Commerce, the ‘Investing in Manufacturing Communities Partnership’ will encourage communities to devise comprehensive economic development strategies that strengthen their competitive edge in attracting global manufacturers and their supply chains. IMCP specifically brings together the resources of multiple federal departments and agencies involved in economic development.

In Phase One of the of the ‘Investing in Manufacturing Communities Partnership,’ 44 communities were awarded a total of $7 million to support the creation of economic development strategies that recognize the community’s comparative advantages as a place to do business, invest in public goods, and encourage collaboration between multiple entities to expand the area’s commercial appeal to investors.

Today, U.S. Secretary of Commerce Penny Pritzker announced that the competition for Phase Two of the ‘Investing in Manufacturing Communities Partnership’ is now open, and the Federal Register Notice will be posted in the coming days. In this phase, communities will have an opportunity to compete for a special designation that will elevate them in consideration for $1.3 billion in federal dollars and assistance from 10 cabinet departments/agencies. These communities could also potentially receive catalytic additional federal investments to further support their economic development strategies. The IMCP is a critical component of the Department of Commerce’s “Open for Business Agenda,” which prioritizes trade and investment.

Phase Two of the Investing in Manufacturing Communities Partnership

In Phase Two of the IMCP, up to 12 communities that come up with winning strategies will receive a designation of “Manufacturing Community” that gives them elevated consideration for $1.3 billion in federal dollars and assistance from 10 cabinet departments/agencies. These communities would also potentially receive additional catalytic federal investments to support their economic development strategies. In order to earn the designation, communities must present strategies that identify technologies or industries in which they would be competitive in the future and would make investments in the following areas:

workforce and training;
advanced research;
infrastructure and site development;
supply chain support;
export promotion;
and capital access
These communities will receive:

Elevated consideration for federal dollars and assistance across 10 cabinet departments/agencies, totaling $1.3 billion;
A dedicated federal liaison at these agencies who can act as their concierge to the specific services they need;
Subject to funding availability, challenge grants may become available to some awardees from the pool of designated manufacturing communities;
Recognition on a government website, accessible to prospective private investors (foreign and domestic alike) looking for information on communities’ competitive attributes

This Press Release is courtesy of www.commerce.gov

BROOMFIELD, Colo., – Ball Corporation (NYSE:BLL) and Rexam PLC (LSE:REX) today announced the terms of a recommended offer by Ball to acquire all of the outstanding shares of Rexam in a cash and stock transaction. Under the terms of the offer, for each Rexam share, Rexam shareholders will receive 407p in cash and 0.04568 new Ball shares. The transaction values Rexam at 610p per share based on Ball’s 90-day volume weighted average price as of Feb. 17, 2015, and an exchange rate of US$1.54: £1 on that date representing an equity value of £4.3 billion ($6.6 billion). This represents a premium of 36 percent over Rexam’s closing price as of Feb. 4, 2015, the last trading day prior to media speculation concerning a potential transaction. Upon completion of the transaction, Rexam shareholders will own approximately 19 percent of Ball’s fully diluted shares outstanding. Both companies’ boards of directors unanimously support the transaction. In addition, Ball will provide a Mix and Match Facility, which will allow Rexam shareholders to elect, subject to offsetting elections, to vary the proportions in which they receive new Ball shares and cash.

The transaction is subject to approvals from each company’s shareholders and regulatory approvals. It is expected that the necessary clearances will be obtained in the first half of 2016. Following closing of the transaction, Ball will remain a New York Stock Exchange listed company domiciled in the U.S.

Ball and Rexam represent two companies with complementary metal beverage packaging product offerings and strong cultural compatibility. The combined company will have pro forma 2014 revenue of approximately $15 billion and approximately 22,500 employees across five continents.

“The combination of Ball and Rexam creates a global metal beverage packaging supplier capable of leveraging its geographic presence, innovative products and talented employees to better serve customers of all sizes across the globe; while at the same time generating significant shareholder value,” said John A. Hayes, chairman, president and chief executive officer.

“Today’s announcement aligns with our Drive for 10 strategic vision of maximizing value in our existing businesses, expanding into new products and capabilities, aligning ourselves with the right customers and markets, broadening our geographic reach and leveraging our know-how and technology. Once successfully closed, we expect the combination will provide $300 million of annual run-rate, value creating synergies in the areas of general and administrative, sourcing, freight and logistics and process and efficiency savings which are additive to our long-standing financial strategy of growing diluted earnings per share 10 to 15 percent over time, generating significant free cash flow and growing EVA dollars,” said Hayes.

Stuart Chambers, chairman, Rexam said, “The Rexam board believes that the proposed combination with Ball is a compelling opportunity for our stakeholders. By combining the two companies, we will create a truly global platform to deliver best-in-class service to customers based on a shared culture of manufacturing excellence and continued innovation. The proposed transaction offers our shareholders an attractive premium and an opportunity to participate in the value creation of the combined group through ownership of Ball shares.”

Scott C. Morrison, senior vice president and chief financial officer, said, “The financing structure for the transaction has been committed by a diverse set of global financial institutions offering competitive pricing and borrowing flexibility.”

“Ball’s existing strong free cash flow coupled with the free cash flow of Rexam will allow us to aggressively pay down debt post-closing as we have done following past highly accretive acquisitions such as Reynolds Metals in 1998, Schmalbach-Lubeca in 2002, U.S. Can in 2006 and the AB InBev plants acquisition in 2009. Given the cash generative capabilities and the $300 million of annual run-rate synergies of today’s proposed transaction, we expect to maintain a solid credit profile after this transaction is complete. Our pro forma leverage will be approximately 4.5 times net debt to EBITDA following this transaction, a level similar to our leverage following the Reynolds Metals transaction, when we were a much smaller company. Once we have reduced the leverage to levels in the range of 3.0 times net debt to EBITDA, the company will re-initiate its share repurchase program, and we are targeting 2018 for that,” said Morrison.

In summary, John A. Hayes, chairman, president and chief executive officer, said, “As our customers’ global reach and product portfolios expand and consumer packaging preferences evolve, the Ball and Rexam combination allows us to remain competitive versus other packaging substrates and responsive to our stakeholders needs for sustainable, innovative and low-cost packaging solutions.”

Representing Ball Corporation as lead financial advisor is Greenhill & Co., with Skadden, Arps, Slate, Meagher & Flom acting as lead legal advisor, and Axinn, Veltrop and Harkrider acting as lead antitrust advisor. Deutsche Bank AG, London Branch and Goldman, Sachs & Co. also represent Ball as financial advisors. In addition to cash on hand, committed debt financing is being provided by Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Goldman Sachs Bank USA, KeyBank National Association, Royal Bank of Scotland PLC and Rabobank.

About Ball Corporation
Ball Corporation supplies innovative, sustainable packaging solutions for beverage, food and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 14,500 people worldwide and reported 2014 sales of $8.6 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.

OMAHA, NE — Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) announced today that it has entered into a definitive agreement with Procter and Gamble (“P&G”) whereby it will acquire the Duracell battery business from Procter & Gamble (“P&G”). Pursuant to the agreement, in exchange
for a recapitalized Duracell Company, which will include approximately $1.7 billion in cash at closing, P&G will receive shares of P&G’s common stock currently held by Berkshire Hathaway having a current value of approximately $4.7 billion. The transaction is expected to close in the
second half of 2015 and is subject to obtaining various regulatory approvals as well as certain other customary closing conditions.

“I have always been impressed by Duracell, as a consumer and as a long-term investor in P&G and Gillette,” commented Warren E. Buffett, Berkshire Hathaway chief executive officer. “Duracell is a leading global brand with top quality products, and it will fit well within Berkshire Hathaway.”

“We thank the Duracell employees for their many contributions to the business. They’ve made Duracell the global market leader in the battery category,” said A.G. Lafley, P&G chief executive officer. “I’m confident this new ownership structure will provide strong support for Duracell’s
future growth plans.”

About Berkshire
Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

NEW YORK & SUMMIT, N.J., – Bristol-Myers Squibb Company (NYSE:BMY) and Celgene Corporation (NASDAQ:CELG) today announced that they have entered into a definitive merger agreement under which Bristol-Myers Squibb will acquire Celgene in a cash and stock transaction with an equity value of approximately $74 billion. Under the terms of the agreement, Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and $50.00 in cash for each share of Celgene. Celgene shareholders will also receive one tradeable Contingent Value Right (CVR) for each share of Celgene, which will entitle the holder to receive a payment for the achievement of future regulatory milestones. The Boards of Directors of both companies have approved the combination.

The transaction will create a leading focused specialty biopharma company well positioned to address the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease through high-value innovative medicines and leading scientific capabilities. With complementary areas of focus, the combined company will operate with global reach and scale, maintaining the speed and agility that is core to each company’s strategic approach.

Based on the closing price of Bristol-Myers Squibb stock of $52.43 on January 2, 2019, the cash and stock consideration to be received by Celgene shareholders at closing is valued at $102.43 per Celgene share and one CVR (as described below). When completed, Bristol-Myers Squibb shareholders are expected to own approximately 69 percent of the company, and Celgene shareholders are expected to own approximately 31 percent.

“Together with Celgene, we are creating an innovative biopharma leader, with leading franchises and a deep and broad pipeline that will drive sustainable growth and deliver new options for patients across a range of serious diseases,” said Giovanni Caforio, M.D., Chairman and Chief Executive Officer of Bristol-Myers Squibb. “As a combined entity, we will enhance our leadership positions across our portfolio, including in cancer and immunology and inflammation. We will also benefit from an expanded early- and late-stage pipeline that includes six expected near-term product launches. Together, our pipeline holds significant promise for patients, allowing us to accelerate new options through a broader range of cutting-edge technologies and discovery platforms.”

Dr. Caforio continued, “We are impressed by what Celgene has accomplished for patients, and we look forward to welcoming Celgene employees to Bristol-Myers Squibb. Our new company will continue the strong patient focus that is core to both companies’ missions, creating a shared organization with a goal of discovering, developing and delivering innovative medicines for patients with serious diseases. We are confident we will drive value for shareholders and create opportunities for employees.”

“For more than 30 years, Celgene’s commitment to leading innovation has allowed us to deliver life-changing treatments to patients in areas of high unmet need. Combining with Bristol-Myers Squibb, we are delivering immediate and substantial value to Celgene shareholders and providing them meaningful participation in the long-term growth opportunities created by the combined company,” said Mark Alles, Chairman and Chief Executive Officer of Celgene. “Our employees should be incredibly proud of what we have accomplished together and excited for the opportunities ahead of us as we join with Bristol-Myers Squibb, where we can further advance our mission for patients. We look forward to working with the Bristol-Myers Squibb team as we bring our two companies together.”

Compelling Strategic Benefits
Leading franchises with complementary product portfolios provide enhanced scale and balance. The combination creates:
Leading oncology franchises in both solid tumors and hematologic malignancies led by Opdivo and Yervoy as well as Revlimid and Pomalyst;
A top five immunology and inflammation franchise led by Orencia and Otezla; and
The #1 cardiovascular franchise led by Eliquis.
The combined company will have nine products with more than $1 billion in annual sales and significant potential for growth in the core disease areas of oncology, immunology and inflammation and cardiovascular disease.

Near-term launch opportunities representing greater than $15 billion in revenue potential. The combined company will have six expected near-term product launches:
Two in immunology and inflammation, TYK2 and ozanimod; and
Four in hematology, luspatercept, liso-cel (JCAR017), bb2121 and fedratinib.
These launches leverage the combined commercial capabilities of the two companies and will broaden and enhance Bristol-Myers Squibb’s market position with innovative and differentiated products. This is in addition to a significant number of lifecycle management registrational readouts expected in Immuno-Oncology (IO).

Early-stage pipeline builds sustainable platform for growth. The combined company will have a deep and diverse early-stage pipeline across solid tumors and hematologic malignancies, immunology and inflammation, cardiovascular disease and fibrotic disease leveraging combined strengths in innovation. The early-stage pipeline includes 50 high potential assets, many with important data readouts in the near-term. With a significantly enhanced early-stage pipeline, Bristol-Myers Squibb will be well positioned for long-term growth and significant value creation.
Powerful combined discovery capabilities with world-class expertise in a broad range of modalities. Together, the Company will have expanded innovation capabilities in small molecule design, biologics/synthetic biologics, protein homeostasis, antibody engineering and cell therapy. Furthermore, strong external partnerships provide access to additional modalities.
Compelling Financial Benefits

Strong returns and significant immediate EPS accretion. The transaction’s internal rate of return is expected to be well in excess of Celgene’s and Bristol-Myers Squibb’s cost of capital. The combination is expected to be more than 40 percent accretive to Bristol-Myers Squibb’s EPS on a standalone basis in the first full year following close of the transaction.
Strong balance sheet and cash flow generation to enable significant investment in innovation. With more than $45 billion of expected free cash flow generation over the first three full years post-closing, the Company is committed to maintaining strong investment grade credit ratings while continuing its dividend policy for the benefit of Bristol-Myers Squibb and Celgene shareholders. Bristol-Myers Squibb will also have significant financial flexibility to realize the full potential of the enhanced late- and early-stage pipeline.
Meaningful cost synergies. Bristol-Myers Squibb expects to realize run-rate cost synergies of approximately $2.5 billion by 2022. Bristol-Myers Squibb is confident it will achieve efficiencies across the organization while maintaining a strong, core commitment to innovation and delivering the value of the portfolio.
Terms and Financing

Based on the closing price of Bristol-Myers Squibb stock on January 2, 2019, the cash and stock consideration to be received by Celgene shareholders is valued at $102.43 per share. The cash and stock consideration represents an approximately 51 percent premium to Celgene shareholders based on the 30-day volume weighted average closing stock price of Celgene prior to signing and an approximately 54 percent premium to Celgene shareholders based on the closing stock price of Celgene on January 2, 2019. Each share also will receive one tradeable CVR, which will entitle its holder to receive a one-time potential payment of $9.00 in cash upon FDA approval of all three of ozanimod (by December 31, 2020), liso-cel (JCAR017) (by December 31, 2020) and bb2121 (by March 31, 2021), in each case for a specified indication.

The transaction is not subject to a financing condition. The cash portion will be funded through a combination of cash on hand and debt financing. Bristol-Myers Squibb has obtained fully committed debt financing from Morgan Stanley Senior Funding, Inc. and MUFG Bank, Ltd. Following the close of the transaction, Bristol-Myers Squibb expects that substantially all of the debt of the combined company will be pari passu.

Accelerated Share Repurchase Program
Bristol-Myers Squibb expects to execute an accelerated share repurchase program of up to approximately $5 billion, subject to the closing of the transaction, market conditions and Board approval.

Corporate Governance
Following the close of the transaction, Dr. Caforio will continue to serve as Chairman of the Board and Chief Executive Officer of the company. Two members from Celgene’s Board will be added to the Board of Directors of Bristol-Myers Squibb. The combined company will continue to have a strong presence throughout New Jersey.

Approvals and Timing to Close
The transaction is subject to approval by Bristol-Myers Squibb and Celgene shareholders and the satisfaction of customary closing conditions and regulatory approvals. Bristol-Myers Squibb and Celgene expect to complete the transaction in the third quarter of 2019.

Advisors
Morgan Stanley & Co. LLC is serving as lead financial advisor to Bristol-Myers Squibb, and Evercore and Dyal Co. LLC are serving as financial advisors to Bristol-Myers Squibb. Kirkland & Ellis LLP is serving as Bristol-Myers Squibb’s legal counsel. J.P. Morgan Securities LLC is serving as lead financial advisor and Citi is acting as financial advisor to Celgene. Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Celgene.

About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol-Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube and Facebook.

About Celgene
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through next-generation solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. For more information, please visit www.celgene.com. Follow Celgene on Social Media: @Celgene, Pinterest, LinkedIn, Facebook and YouTube

PEORIA, Ill. – Caterpillar Inc. (NYSE: CAT) today announced it will begin independently designing and manufacturing its vocational truck product family at its plant in Victoria, Texas. The plant, which opened in 2012, currently produces hydraulic excavators.

“The on-highway vocational truck product family is important to our product line; customers like our trucks and want to include them in their fleets in a variety of heavy duty applications such as dump trucks, mixers, haulers or one of the other configurations we offer,” said Chris Chadwick, Caterpillar’s director of the Global On-Highway Truck Group. “To continue to provide the best solution for our customers, we will bring the design and manufacturing of this product into Caterpillar, and the production specifically to Victoria. Our updated strategy reaffirms our commitment to grow and develop our presence in the vocational truck industry moving forward.”

Caterpillar launched its first vocational truck, the CT660, in the North American market in 2011. Two more models have since been added to the lineup, the CT680 and CT681. To date, Caterpillar has worked with Navistar for the products’ design and build, which are currently manufactured in Escobedo, Mexico.

“We appreciate the collaboration we have had with Navistar,” Chadwick said. “As we look to future launches of new truck models, this updated strategy will better position us to help provide our customers with the best products and services for this market. Caterpillar continues to drive the design phase of all models, both current and planned. Before launching the product, we spent hundreds of hours on the road with customers, asking them to describe the ideal truck. We know what they want and need – from functionality of the truck itself to comfort in the cab. We plan to meet and exceed those expectations as we grow this product offering to fulfill our customers’ needs.”

The transition process will begin immediately, with production expected to begin in the first half of next year. Caterpillar Victoria will continue to produce excavators, and the addition of the vocational truck production is expected to add around 200 new jobs at the facility.

“Caterpillar Victoria is proud to be a part of this opportunity,” commented Ed O’Neil, general manager for operations for the Excavation Division. “The Victoria facility was selected because of our team’s proven record of building high-quality Cat® products, our commitment to safety and our successful implementation of the Caterpillar Production System and Lean manufacturing. In addition, support from the community and its excellent skilled workforce, as well as the proximity to suppliers, also contributed to the sourcing decision.”

Cat dealers will continue to sell and support Cat vocational trucks.

About Caterpillar
For 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2014 sales and revenues of $55.184 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Construction Industries, Resource Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.

Chalfont St Giles, UK and Changxing, Zhejiang, China – 23 January 2018 — Clover Biopharmaceuticals, a biotechnology company focused on developing novel and transformative biologic therapies, has chosen GE Healthcare’s FlexFactory, a biomanufacturing platform based on single-use technologies, for its new facility located in Changxing, Zhejiang in China. The new facility will mainly be used to produce biological fusion protein products, including innovative drugs and biosimilars. This will help Clover Biopharmaceuticals to bring local access to biologic therapies faster, while also opening global markets through the proven track record of FlexFactory in meeting global regulatory requirements and quality standards. The biomanufacturing facility includes two 2,000 liter bioreactors from GE, and it will be operational in the latter half of 2018.

Clover Biopharmaceuticals’ new production facility will be located in one of the national economic development zones in China, Changxing Economic and Technological Development Zone, where a new biopharmaceutical industrial cluster is being developed. China has a broader strategy on biotechnological innovation per the government’s 13th Five-Year Plan, and there are plans to build up to twenty science parks for biomedicine by 2020 to accelerate local research and development activities. In 2015, the Chinese biopharmaceutical market was valued approximately at USD 13 billion, and the estimated annual growth rate (CAGR) is around 13 percent for the next few years(1).

“Adopting high-quality technologies and driving innovation in our manufacturing operations is important for Clover Biopharmaceuticals. GE’s FlexFactory represents the latest in biomanufacturing technologies, and it will help us establish flexible production capacity quickly, while fulfilling good manufacturing practices (GMP) requirements,” said Dr. Peng Liang, Co-founder, Chairman and President of Clover Biopharmaceuticals.

“The first therapeutic product produced using this biomanufacturing platform is SCB-808, a prefilled syringe formulation Enbrel® (etanercept) biosimilar candidate for the treatment of rheumatoid arthritis. We believe that SCB-808 addresses a major unmet need for patients in China and hope that we can provide patients with safer, more efficacious and convenient modern biologic therapies.”

“China has one of the fastest growing biopharmaceutical industries in the world, and it is important when new production facilities are being built that the chosen biomanufacturing technologies support this positive development, bringing high-quality biologics fast to market. We are excited to collaborate with Clover Biopharmaceuticals and to contribute to their promising and ambitious product pipeline by delivering a flexible, start-to-finish biomanufacturing platform based on single-use technologies,” said Sven Henrichwark, General Manager, Global Commercial BioProcess, GE Healthcare Life Sciences.

(1) Source: IMS data, CMH data, internal modeling and analysis

About FlexFactory
GE Healthcare’s FlexFactory is a centrally automated, flexible biomanufacturing platform for the production of biopharmaceuticals, such as monoclonal antibodies and vaccines. It allows manufacturers to quickly and easily establish biopharmaceutical manufacturing capacity within an existing building or as part of a new facility. Designed to help manufacturers such as Clover Biopharmaceuticals to rapidly respond to local healthcare needs and to support global customers in bringing lifesaving treatments to market more quickly, FlexFactory is comprised of single-use technologies and associated process hardware as well as all necessary automation and control components for start-to-finish manufacturing of biopharmaceuticals.

About Clover Biopharmaceuticals
Clover Biopharmaceuticals is a global, clinical-stage, research-based biotechnology company focused on discovering, developing and commercializing transformative biologic therapies, with a focus on oncology and autoimmune diseases. Clover is utilizing its proprietary Trimer-Tag© technology platform to develop novel biologics targeting trimerization-dependent pathways. Additionally, Clover is leveraging its in-house cGMP biomanufacturing capabilities to develop select biosimilars. For more information, please visit Clover’s website: www.cloverbiopharma.com.

About GE Healthcare
Harnessing data and analytics across hardware, software and biotech, GE Healthcare is the $18 billion healthcare business of GE (NYSE: GE). As a leading provider of medical imaging equipment, with a track record of more than 100 years in the industry and more than 50,000 employees across 100 countries, we transform healthcare by delivering better outcomes for providers and patients. Follow us on Facebook, LinkedIn, and Twitter or The Pulse for latest news.

Philadelphia, PA — CROWN Embalagens Metálicas da Amazônia S.A. (CROWN Brazil), a joint venture of Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) and Évora S.A. of Porto Alegre, Brazil, has partnered with Coca-Cola to introduce a 220ml sleek style beverage can to local consumers. Produced at Crown’s plant in Cabreuva, the sleek style format addresses consumer demand for smaller portion sizes and greater product variety.

The functional and sophisticated format will be used for Coca-Cola lines: Coke Zero, Coke Life, Coca-Cola, Fanta, Grape Fanta, Sprite and Guaraná Kuat. It joins Coca-Cola’s line of standard 355ml and 250ml size beverage cans for soft drinks.

“Helping consumers experience our products in new ways remains a primary goal at Coca-Cola,” stated Mario Sergio Gomes, Global Procurement Director for Latin America. “Crown’s innovative 220ml beverage can format satisfies the preferences of modern Brazilian consumers while also adding noteworthy progression and variety to our product line.”

Like all aluminum cans, the 220ml can is infinitely recyclable, provides an effective barrier against light and oxygen, and has significant shelf life properties. The can size also meets consumer preferences in terms of it being lighter, easier to hold, transportable and faster to chill than larger sizes.

“Partnering with Coca-Cola to create a beverage package that not only gives consumers more options, but creates visual impact on the shelf and aligns with consumer demands was a win-win,” said Wilmar Arinelli, President, CROWN Embalagens Metálicas da Amazônia S.A. “We look forward to continued collaboration with Coca-Cola and other regional brands to meet the evolving needs of Brazilian consumers.”

The 220 ml sleek style beverage can brings CROWN Brazil’s portfolio to ten different sizes – the largest portfolio in the country. Other sizes available on the market are the 250ml slim style, 269ml, 310ml, 355ml and 425ml sleek style cans and 250ml, 355ml, 473ml and 550ml standard cans.

About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, PA. For more information, visit www.crowncork.com.

– See more at: http://www.crowncork.com/news/press-room/coca-cola-delivers-greater-variety-brazilian-consumers-slimmer-format-beverage#sthash.pDGmSteh.dpuf

WASHINGTON, – The Coca-Cola Company and its African bottling partners today announced a new investment of US$5 billion during the U.S.-Africa Leaders Summit here. The investment, to be made over the next six years, increases its total announced investment in Africa to $17 billion from 2010 to 2020. The Company and its bottling partners anticipate that this investment will fund new manufacturing lines, cooling and distribution equipment and production; create additional jobs and opportunities across Coca-Cola’s African supply chain; and support key sustainability initiatives and programs focused on safe water access, sustainable sourcing, women’s economic empowerment, community well-being and operational efficiency improvements.

“As an organization that has been part of the economic and social fabric of Africa since 1928, we and our local bottling partners have seen, firsthand, the great promise and potential of this dynamic, growing and vibrant continent,” said Muhtar Kent, Chairman and CEO of The Coca-Cola Company. “Even as we see tremendous growth potential in Africa, we know that the strength and sustainability of our business are tied directly to the strength and sustainability of the African communities we proudly serve.”

The Company has also signed a Letter of Intent to launch Source Africa, an initiative to secure more consistent and sustainable local ingredient sourcing for its products in partnership with the New Alliance for Food Security and Nutrition and Grow Africa. The initiative will initially focus on sustainable mango and tea production in Kenya; citrus, mango and pineapple production in Nigeria; and mango in Malawi. Longer-term, the program could expand to focus on sustainable ingredient production in Ethiopia, Senegal, Tanzania and Mozambique. Source Africa builds on the experience of Coca-Cola’s work in sustainable agriculture, including Project Nurture, an $11.5 million partnership supporting 50,000 small-scale fruit farmers in East Africa to sustainably grow their crops and income.

Kent added, “As a business, we’re committed to creating public value and helping our communities overcome development challenges. In Africa, we believe we can do more to source agricultural ingredients locally, with significant supply potential that’s underdeveloped and underutilised. Tapping this potential could accelerate the growth of our business and Africa’s emerging economies, making our supply chains more cost effective and enabling sub-Saharan Africa to supply more ingredients to growing markets in Africa and beyond.”

At the Summit, Kent also announced that The Coca-Cola Africa Foundation (TCCAF) will expand its Replenish Africa Initiative (RAIN) through 2020 to support Pan-African safe water access and sanitation programs for an additional 4 million African people. This new expansion adds to TCCAF’s original RAIN commitment to bring safe water access to 2 million people across the continent by 2015.

Through the RAIN program expansion, TCCAF and its public and private partners will work to improve sustainable safe water access for 6 million Africans; economically empower up to 250,000 women and youth; promote health and hygiene in thousands of communities, schools, and health centers; and return up to 18.5 billion liters of water to nature and communities.

To date, TCCAF has made investments and collaborated with more than 140 partners to reach 2 million people with sustainable, safe water access across at least 37 of Africa’s 55 countries by the end of 2015.

The Company and its Foundations also remain committed to other programs focused on improving community well-being and women’s economic empowerment in Africa, including:

Project Last Mile: In June 2014, Coca-Cola, its Foundations, and public and private partners announced a $21 million expansion of the medical supply delivery program to an additional eight African countries over the next five years.
5by20: To date, Coca-Cola has reached more than 370,000 women entrepreneurs in 18 African countries through its 5by20 economic empowerment initiative. Since 5by20 launched in 2010, more than 550,000 women entrepreneurs in the global Coca-Cola value chain have been economically empowered on the initiative’s journey to reach 5 million by 2020.
EKOCENTER: In 2014, Coca-Cola is piloting its public-private partnership to bring sustainable community markets operated by women entrepreneurs in six countries in Africa, Asia and North America.

About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, our Company’s portfolio features 17 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.9 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world’s top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.

Underscoring President Obama’s Climate Action Plan to cut harmful emissions and double energy efficiency, the Energy Department is taking action to develop the next generation of combined heat and power (CHP) technology and help local communities and businesses make cost-effective investments that save money and energy. As part of this effort, the Department launched today seven new regional Combined Heat and Power Technical Assistance Partnerships across the country to help strengthen U.S. manufacturing competitiveness, lower energy consumption and reduce harmful emissions.

Last year, President Obama established a new national goal of 40 gigawatts of new CHP capacity by 2020 – a 50 percent increase from today. Meeting this goal would help American manufacturers and companies save as much as $100 billion in energy costs over the next decade and reduce emissions equivalent to taking 25 million cars off the road. View an Energy Department infographic on how CHP technology works and its environmental and economic benefits.

Launching Seven New CHP Technical Assistance Partnerships

Since 2003, the Energy Department has supported a set of regional centers to help organizations understand how CHP can improve their bottom lines and lower energy bills.

Today, the Department is launching seven regional CHP Technical Assistance Partnerships – the next generation of these centers – to help further grow America’s CHP market for commercial, institutional and industrial businesses, state agencies, utilities and trade associations. Located in California, Colorado, Illinois, New York, North Carolina, Pennsylvania and Washington state, these organizations will offer best practices for CHP project financing, management and state policies, market analysis tools and resources, and technical site evaluations.

Find more information on how the CHP Technical Assistance Partnerships are helping U.S. businesses and communities get the information they need to make smart, cost-effective investment decisions.

Strengthening Infrastructure Reliability and Resilience

Combined heat and power technologies can also help make our nation’s infrastructure smarter, stronger and better equipped to maintain power against increasingly severe weather events. During and after Hurricane Sandy, CHP helped hospitals, fire stations and multifamily housing in New York and New Jersey continue their operations when the electric grid went down.

The Energy Department, the Department of Housing and Urban Development and the Environmental Protection Agency recently issued a guide to help state and local officials determine if CHP is a good option for Sandy rebuilding efforts. The guide includes practical information on financial, site and technical decision-making as well as how to operate and maintain these systems.

The Energy Department is also helping critical facilities across the country invest in CHP – providing affordable, reliable power and heat and ensuring that life-saving operations keep running. For example, in 2010, Thermal Energy Corporation installed a new high-efficiency 48 megawatt CHP system to power and heat the University of Texas MD Anderson Cancer Center, Texas Children’s Hospital and 16 other institutions at the Texas Medical Center. The Energy Department invested about $10 million in this project, matched by $62 million in private funding. Last year, the Midwest Clean Energy Application Center helped Gundersen Health system complete installation of a CHP system at its medical campus in Onalaska, Wisconsin – completely offsetting its electricity and steam needs and saving about $100,000 each year.

Developing Innovation CHP Technologies

In addition to technical assistance efforts, the Energy Department is supporting research, development and demonstration projects to help grow the CHP market, including finding CHP solutions that fit small- and medium-sized facilities and accelerating new product commercialization.

Industries with high and continuous demand for both electrical and thermal energy – such as food processing, paper manufacturing and metals production – are well suited for CHP installations but often face market and technical barriers to deployment. With that in mind, the Department is supporting demonstration projects to test how these systems impact plants’ operations and energy use and help identify financing and maintenance best practices. For instance, the Department partnered with Frito-Lay to install and test a CHP system at its Killingly, Conn.-based food processing facility. In addition to providing reliable, efficient power, the gas-fired system reuses excess heat to warm Frito-Lay’s chip fryer oil – cutting costs and reduce harmful air pollution.

The Department is also supporting new CHP technologies that are cleaner, more efficient and can use a variety of fuel sources. The Gas Technology Institute is developing a new CHP burner technology that cuts greenhouse gas emissions while improving overall system efficiency. Capstone Turbine Corporation is designing a combined 65 kilowatt CHP system and biomass gasifier that can use stalks, grass and other material to generate gas and power a turbine. Capstone is also developing a 370 kilowatt CHP system that can save about 44 percent more energy over a traditional system while reducing carbon dioxide emissions by 60 percent and nitrogen oxide emissions by 95 percent.
Courtesy Department of Energy

WASHINGTON, D.C. – The U.S. Consumer Product Safety Commission (CPSC) has approved a new federal standard intended to improve the safety of children’s folding chairs and stools.

The new federal safety standard incorporates the most recent voluntary standard developed by ASTM International (ASTM F2613-17a, Standard Consumer Safety Specification for Children’s Chairs and Stools), but limits the scope of the CPSC standard to children’s folding chairs and stools. The mandatory standard contains several requirements for children’s folding chairs and stools, including:

latching and locking mechanism or adequate hinge-line clearance requirements,
rearwards and sideways stability testing, and
warning labels.
Between January 2003 and August 2017, CPSC received a total of 153 reports of incidents, including 105 injuries, related to children’s folding chairs and stools.

The most frequent injuries associated with children’s folding chairs and stools include pinching, finger injuries and tip-overs due to instability.

The effective date for the new mandatory children’s folding chairs and stools standard is six months after the final rule is published in the Federal Register.

The Commission is required by the Danny Keysar Child Product Safety Notification Act, Section 104(b) of the Consumer Product Safety Improvement Act of 2008 (CPSIA), to issue consumer product safety standards for durable infant or toddler products. In the past 7 years, the Commission has approved new federal safety standards for durable infant or toddler products, including full-size cribs, non-full-size cribs, play yards, baby walkers, baby bath seats, children’s portable bed rails, strollers, toddler beds, infant swings, handheld infant carriers, soft infant carriers, framed infant carriers, bassinets, cradles, portable hook-on chairs and infant sling carriers.

The Commission voted unanimously (4-0) to approve the standard on December 8, 2017.

The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of injury or death associated with the use of thousands of types of consumer products under the agency’s jurisdiction. Deaths, injuries, and property damage from consumer product incidents cost the nation more than $1 trillion annually. CPSC is committed to protecting consumers and families from products that pose a fire, electrical, chemical or mechanical hazard. CPSC’s work to help ensure the safety of consumer products – such as toys, cribs, power tools, cigarette lighters and household chemicals -– contributed to a decline in the rate of deaths and injuries associated with consumer products over the past 40 years.

WASHINGTON, D.C. – To help keep infants and babies safe, the U.S. Consumer Product Safety Commission (CPSC) has approved a new federal mandatory standard intended to improve the safety of infant sling carriers and prevent deaths and injuries to young children.

Infant sling carriers are worn by the parent or caregiver and are designed to carry an infant/toddler in an upright or reclined position. Slings generally are intended for infants and toddlers between 8 and 35 pounds. Designs typically range from unstructured hammock-shaped products that suspend from the caregiver’s body, to long lengths of material or fabric that wrap around the caregiver’s body.

The new federal safety standard incorporates the most recent voluntary standard developed by ASTM International (ASTM F2907-15), Standard Consumer Safety Specification for Sling Carriers, with one modification regarding label attachments. CPSC’s rule modifies the ASTM standard to make warning labels more permanent by preventing the labels from being attached to the sling carrier along only one side of the label.

The mandatory standard contains several requirements for sling carriers including:

loading to ensure that the sling can carry up to three times the manufacturer’s maximum recommended weight,
structural integrity to ensure that after all testing, there are no seam separations, fabric tears, breakage, etc., and
occupant retention to prevent the child being carried from falling out of the sling during normal use.
In addition, the standard requires sling carriers to come with warning labels and instructional literature. These requirements include:

pictures to show the proper position of a child in the sling,
a warning statement about the suffocation hazard posed by slings and prevention measures,
warning statements about children falling out of slings, and
a reminder for caregivers to check the buckles, snaps, rings and other hardware to make sure no parts are broken.
Between January 2003 and September 2016, 159 incidents were reported to CPSC involving sling carriers; 17 were fatal and 142 were nonfatal. Of the 142 nonfatal incidents, 67 reports involved an injury to the infant during use of the product. Among the 67 reported nonfatal injuries, 10 involved hospitalizations.

The effective date for the new mandatory infant sling carrier standard is one year after the final rule is published in the Federal Register.

CPSC advises parents and caregivers to be cautious when using infant slings for babies younger than four months of age. Slings can pose two different types of suffocation hazards to babies.

In the first few months of life, babies cannot control their heads because of still developing neck muscles. The sling’s fabric can hold the baby in a position that blocks the baby’s breathing and rapidly suffocates a baby within a minute or two.
Additionally, where a sling keeps the infant in a curled position bending the chin toward the chest, the airways can be restricted, limiting the oxygen supply. The baby will not be able to cry for help and can slowly suffocate.
CPSC recommends the following tips to parents and caregivers when using infant sling carriers.

Make sure the infant’s face is not covered and is visible at all times to the sling’s wearer.
If nursing the baby in a sling, change the baby’s position after feeding so the baby’s head is facing up and is clear of the sling and the mother’s body.
Be vigilant about frequently checking their baby in a sling, always making sure nothing is blocking baby’s nose and mouth and baby’s chin is away from her chest.
The Commission is required by The Danny Keysar Child Product Safety Notification Act, Section 104(b) of the Consumer Product Safety Improvement Act of 2008 (CPSIA), to issue consumer product safety standards for durable infant or toddler products. In the past seven years, the Commission has approved new federal safety standards for durable infant or toddler products, including full-size cribs, non-full-size cribs, play yards, baby walkers, baby bath seats, children’s portable bed rails, strollers, toddler beds, infant swings, handheld infant carriers, soft infant carriers, framed infant carriers, bassinets, cradles and portable hook-on chairs.

The Commission voted 3-2 in favor of the standard on January 11, 2017.

WASHINGTON, D.C. – The U.S. Consumer Product Safety Commission (CPSC) is warning consumers to immediately stop using “Baby Loungers” because they violate the federal safety regulation for infant sleep products, posing a risk of suffocation and a fall hazard to infants. Specifically, the loungers fail to meet the safety requirements of CPSC’s Infant Sleep Products regulation because they do not have a stand, which creates an unsafe sleeping environment for infants. In addition, the loungers fail to meet the regulation’s marking, labeling, and instructional literature requirements. The lounger and its packaging also lack a tracking label containing product information such as the date of manufacture, which is required for children’s products including durable infant or toddler products.

CPSC issued a Notice of Violation to the seller, Poetint002 of China, but the firm has not agreed to recall these loungers or offer a remedy to consumers. Consumers who purchased the product will receive this notice directly.

The baby loungers were sold online on Amazon.com and other e-commerce sites. CPSC evaluated the loungers in the Grey Animal printed fabric. The white sticker label on the packaging identifies the products as “Baby Loungers.” There is a red tag on the products with three rectangular symbols. The lounger is oval in shape and was sold in the color style “gray animal.” It is gray on the outside and white on the inside with animals such as lions, moose, and giraffes printed on the inside of the lounger. It comes with a small pillow with similar animal imagery on it.

Although the ISP regulation applies to products manufactured on or after June 23, 2022, the CPSC urges consumers to stop using all loungers sold by Poetint002 regardless of their date of manufacture. Further, CPSC continues to advise firms to stop sale of non-compliant infant sleep products regardless of the date of manufacture.

CPSC urges consumers to stop using the loungers immediately, unzip and disassemble the products, cut-up the lounger cover, sleeping pad, and side bumpers and dispose of the pieces in the trash or textile recycling, in accordance with local garbage collection policies.

Parents and caregivers are reminded:

The best place for an infant to sleep is on a firm, flat surface in a crib, bassinet or play yard.
Use a fitted sheet only and never add blankets, pillows, padded crib bumpers, or other items to an infant’s sleeping environment.
Infants should always be placed to sleep on their back. Infants who fall asleep in an inclined or upright position should be moved to a safe sleep environment with a firm, flat surface such as a crib, bassinet or play yard.
Report any incidents involving injury or product defect to CPSC at www.SaferProducts.gov.

Individual Commissioners may have statements related to this topic. Please visit www.cpsc.gov/commissioners to search for statements related to this or other topics.

Release Number
24-063
About the U.S. CPSC
The U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury or death associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. CPSC’s work to ensure the safety of consumer products has contributed to a decline in the rate of injuries associated with consumer products over the past 50 years.

Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.

For lifesaving information:

Visit CPSC.gov.
Sign up to receive our e-mail alerts.
Follow us on Facebook, Instagram @USCPSC and Twitter @USCPSC.
Report a dangerous product or a product-related injury on www.SaferProducts.gov.
Call CPSC’s Hotline at 800-638-2772 (TTY 301-595-7054).
Contact a media specialist.

Philadelphia, PA – Larger beverage containers have always been popular among consumers in Brazil, where there is a social culture of pouring drinks from shared containers rather than each individual having their own single serving. In recent years, brands have seen the use of multi-serve containers expanding to other occasions, including sporting events and music festivals. To meet the needs of this growing trend in consumption, CROWN Embalagens Metálicas da Amazônia S.A. (Crown Brazil), a joint venture of Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) and Évora S.A. of Porto Alegre, Brazil, is now offering a 550ml beverage can that drink brands can use to leverage this culture of sharing and engage new consumers.

The new beverage can is already proving very popular. For consumers, the larger volume format allows them to more easily share their favorite beverage with friends and family; while for those who prefer to consume the drink on their own, the container is still easy to hold as it retains the same diameter as a traditional 350ml beverage can. The diameter of the can also benefits brands as well – the standard size enables it to be paired with Crown’s full range of beverage ends and allows drink manufacturers to serve the needs of a broader consumer base without requiring any investment in new filling and seaming equipment.

“Crown is a leader in the market when it comes to anticipating new trends and meeting changing consumer preferences for new beverage can formats,” states Djalma Novaes, President of CROWN Embalagens Metálicas da Amazônia S.A. “The 550ml can size is a perfect example of how we were able to partner with brands to bring innovative new options to the Brazilian market.”

Since standard ends are compatible with the 550ml can, brands can choose to use regular ends or employ more innovative solutions, such as Crown’s SuperEnd® beverage end, which reduces metal use by 10%, or the company’s groundbreaking 360 End™, which allows the entire lid of the can to be removed, turning it into a drinking cup. Additional decoration, such as coloring or laser etching, can also be applied to the can tabs themselves, offering unique design options for brands seeking to engage consumers with special promotions or targeted messaging.

With the recent opening of a third beverage can line in Cabreúva, Crown Brazil now produces the 550ml format in three of its four can production plants across the country. In addition to the new size, Crown Brazil also manufactures 269ml, 310ml, 355ml and 425ml sleek style cans as well as standard 350ml and 473ml cans, offering a total of seven different sizes to beverage brands in Brazil.

About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, PA. For more information, visit www.crowncork.com.

For more information, contact:

In South America: Djalma Novaes, President, CROWN Embalagens Metálicas da Amazônia S.A.; Tel: 55 11 4529 1006; Email: djalma.novaes@crowncork.com.br

In the United States: Ron Skotleski, Director of Marketing; Tel: 1 (215) 718-1303 Email: ron.skotleski@crowncork.com

In Europe: Caroline Archer, Marketing & Key Account Director; Tel: 33 1 49 18 40 43; Email: caroline.archer@eur.crowncork.com

In Asia: Janet Swee, CROWN Asia Pacific Holdings Ltd; Tel: 65 6229-4829; Email: Janet.SWEE@crowncork.com.sg

Philadelphia, PA – Crown Holdings, Inc. (NYSE: CCK), a global leader in consumer packaging, today announced that it has entered into a definitive agreement to acquire EMPAQUE, a leading Mexican manufacturer of aluminum cans and ends, bottle caps and glass bottles for the beverage industry, from Heineken N.V., in a cash transaction valued at $1.225 billion, subject to adjustment. The acquisition is subject to customary closing conditions, including competition authority approval, and is expected to close by year end 2014 and contribute between $0.15 and $0.20 per share to Crown’s 2015 earnings before synergies, but including estimated amortization and depreciation for purchase accounting adjustments. Information regarding the expected amount and timing of synergies will be provided in due course.

According to Crown Chairman and Chief Executive Officer John W. Conway, the acquisition of EMPAQUE will significantly enhance Crown’s strategic position in beverage cans, both regionally and globally. In North America, Crown will become the second largest beverage can producer, supplying over 24 billion units annually to a balanced portfolio of beer and soft drink customers. On a worldwide basis, after closing Crown will supply over 62 billion units annually, representing 20% of all beverage cans globally. Crown will also bolster its already industry-leading geographic footprint, as over 50% of beverage can revenue will be attributable to the faster growing developing regions. Long-term supply agreements with Heineken affiliates will also provide a stable cash-flow base for the EMPAQUE business in Mexico.

With projected 2014 sales of approximately $700 million and EBITDA of approximately $150 million, EMPAQUE, headquartered in Monterrey, Mexico, currently operates two beverage can plants, a plant that manufacturers beverage can ends, aluminum closures and bottle caps, a glass bottle plant and a glass service facility in Mexico, with a total of approximately 1,500 employees.

Commenting on the transaction, Conway said, “We are excited to acquire EMPAQUE and its excellent, well-managed facilities. This transaction will allow us to expand our presence in the growing Mexican market, significantly strengthen our global beverage packaging business and deliver compelling benefits to shareholders.”

Citigroup Global Markets Inc. acted as financial advisor to Crown and provided committed financing for the transaction.

About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania. For more information, visit www.crowncork.com.

TAMPA, Fla., July 6, 2023 — Brazilian beverage producer Socorro Bebidas (Socorro) has expanded its partnership with Crown Embalagens Metálicas da Amazônia S.A., a subsidiary of Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), to launch Acquíssima Sabor flavored mineral water in 350ml (12oz) CrownSleek cans. The premium zero-calorie drink features natural aromas, offering a health-conscious alternative for consumers to stay hydrated and incorporate key nutrients into their daily diets. The line made its debut with two flavors, Lychee and Green Apple, and is currently available in Acquíssima stores, restaurants and supermarkets in Brazil. Socorro also previously utilized CrownSleek cans to package its Acquíssima mineral water brand, its first entry into the water market.

Total canned water volume in Brazil has increased by nearly 7x between 2021 and 2022, demonstrating a growing trend in the region for water packaged in aluminum and a continued shift away from tap and bulk water. When considering the package format for the brand, Socorro knew it needed to help convey the refreshing and health-conscious nature of the beverage, while also delivering on sustainability. The inherent properties of metal packaging, including providing a powerful barrier against light and oxygen, helps maintain the product’s freshness. Aluminum beverage cans are also infinitely recyclable and are the most recycled beverage package in the world. These characteristics resonate with Brazilian consumers, who have recently helped drive the country’s recycling rate for aluminum beverage cans to an astounding 100%.

“We are proud to continue our work with Crown as we launch the newest addition to the Acquíssima portfolio,” said Maurício Cruz, Commercial Director of Socorro. “We created the Acquíssima Sabor line to give Brazilian consumers a healthy, delicious beverage alternative. It demanded packaging that would help convey the uniqueness of the brand, its refreshing appeal and our commitment to sustainability. Ultimately, the beverage can was the perfect choice.”

“Crown is thrilled to support Socorro’s rapidly expanding portfolio of products in beverage cans,” said Altair Frulane, Commercial Director of Crown. “Beverage cans meet consumer needs in ways that no other packaging format can. For example, metal packaging is lightweight and convenient to carry, serve from and enjoy. It is durable, protecting the product within and maintaining its freshness. In addition, and critical to modern consumers, is the fact that cans are extremely sustainable and represent packaging they can feel good about.”

Learn more about Crown’s beverage can offerings and capabilities, as well as the Company’s sustainability efforts at crowncork.com.

About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Tampa, Florida. For more information, visit www.crowncork.com.

SOURCE Crown Holdings, Inc.

Danone and Nestlé Waters, the world’s two largest bottled water companies, have joined forces with Origin Materials, a startup based in Sacramento, California, to form the NaturALL Bottle Alliance. Together, the three partners aim to develop and launch at commercial scale a PET plastic bottle made from bio-based material, i.e. 100% sustainable and renewable resources. The project uses biomass feedstocks, such as previously used cardboard and sawdust, so it does not divert resources or land from food production for human or animal consumption. The technology represents a scientific breakthrough for the sector, and the Alliance aims to make it available to the entire food and beverage industry.

Teaming up to accelerate development of 100% bio-based bottles
For decades, both Nestlé Waters and Danone have been committed to sustainable business practices, notably by continuously improving their environmental performances and promoting the development of a circular economy. A large part of these efforts has focused on developing innovative packaging solutions that are recyclable and made with renewable resources, as well as the promotion of recycling. After identifying the unique approach of Origin Materials separately, the two companies decided to team up to accelerate development of this promising technology.

“Our goal is to establish a circular economy for packaging by sourcing sustainable materials and creating a second life for all plastics,” declared Frederic Jouin, head of R&D for plastic materials at Danone. “We believe it’s possible to replace traditional fossil materials with bio-based packaging materials. By teaming up and bringing together our complementary expertise and resources, the Alliance can move faster in developing 100% renewable and recyclable PET plastic at commercial scale.”

Danone and Nestlé Waters are providing expertise and teams, as well as financial support, to help Origin Materials make this technology available to the entire food and beverage industry in record time.

This next-generation PET will be as light in weight, transparent, recyclable and protective of the product as today’s PET, while being better for the planet. The exclusive use of renewable feedstocks which do not divert resources or land from food production is the Alliance’s main focus area. The R&D will focus initially on cardboard, sawdust and wood chips but other biomass materials, such as rice hulls, straw and agricultural residue could be explored.

“Current technology on the market makes it possible to have 30% bio-PET,” noted John Bissell, Chief Executive Officer of Origin Materials. “Our breakthrough technology aims to reach 100% bio-based bottles at commercial scale. With the help of our Alliance partners, Origin Materials will be able to scale up a technology which has already been proven at the pilot level.”

A packaging revolution for all
The NaturALL Bottle Alliance partners consider that everyone should benefit from this new material, so the technology will be accessible for the entire beverage industry. This unique approach demonstrates the allies’ commitment to open innovation and sustainable business.
“It’s incredible to think that, in the near future, the industry will be able to use a renewably sourced packaging material, which does not compete with food production and contributes to a better planet,” commented Klaus Hartwig, Head of R&D for Nestlé Waters. “It therefore made perfect sense for us to join forces through this Alliance to develop this innovative technology in a large scale and in the shortest time period possible. This is an exciting journey and we are proud to be part of it.”

A packaging revolution in record time
Origin Materials has already produced samples of 80% bio-based PET in its pilot plant in Sacramento. Construction of a “pioneer plant” will begin in 2017, with production of the first samples of 60+% bio-based PET to start in 2018. The initial volume goal for this first step is to bring 5,000 metric tons of bio-based PET to the market. Thanks to their complementary skills and shared vision, the NaturALL Bottle Alliance aims to develop the process for producing at least 75% bio-based PET plastic bottles at commercial scale as early as in 2020, scaling up to 95% in 2022. The partners will continue to conduct research to increase the level of bio-based content, with the objective of reaching 100%

About Danone – www.danone.com
Dedicated to bringing health through food to as many people as possible, Danone is a leading global food company built on four business lines: Fresh Dairy Products, Early Life Nutrition, Waters and Medical Nutrition. Through its mission and dual commitment to business success and social progress, the company aims to build a healthier future, thanks to better health, better lives and a better world, for all its stakeholders—its 100,000 employees, consumers, customers, suppliers, shareholders and all the communities with which it engages.
Present in over 130 markets, Danone generated sales of €21.9 billion in 2016. Danone’s brand portfolio includes both international brands (Activia, Actimel, Danette, Danonino, Danio, evian, Volvic, Nutrilon/Aptamil, Nutricia) and local brands (Oikos, Prostokvashino, Aqua, Bonafont, Mizone, Blédina, Cow & Gate).
Listed on Euronext Paris and on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes, Vigeo, the Ethibel Sustainability Index, MSCI Global Sustainability, MSCI Global SRI Indexes and the FTSE4Good Index.

About Nestlé Waters
Founded in 1992, Nestlé Waters is the water division of the Nestlé Group and the No. 1 bottled water company worldwide (sales of CHF 7.9 billion in 2016).
Nestlé Waters employs more than 31 000 people worldwide. With over 93 production facilities situated in 33 countries around the world, Nestlé Waters has a unique portfolio of more than 50 brands including Nestlé Pure Life, Perrier, S. Pellegrino, Poland Spring, Vittel, Buxton, Erikli …
For more information www.nestle-waters.com

About Origin Materials
Origin Materials is a company based in Sacramento, California. Origin tackles hard problems in materials in service of the world’s great companies. Origin’s technology produces bio-based intermediates from lignocellulosic (second generation) raw materials. Origin’s intermediates can be used to make new polymers, surfactants, and carbon blacks, each with differentiated performance.
More information about Origin can be found at www.originmaterials.com or info@originmaterials.com

U.S. Secretary of Commerce Penny Pritzker today announced the first 12 communities that will be designated Manufacturing Communities as part of the Investing in Manufacturing Communities Partnership (IMCP) initiative. The U.S. Commerce Department-led program is designed to accelerate the resurgence of manufacturing in communities nationwide by supporting the development of long-term economic development strategies that help communities attract and expand private investment in the manufacturing sector and increase international trade and exports.

“The 12 Manufacturing Communities announced today represent a diverse group of communities with the most comprehensive economic development plans to attract business investment that will increase their competitiveness,” said U.S. Secretary of Commerce Penny Pritzker. “IMCP is a critical part of our ‘Open for Business Agenda’ to strengthen the American manufacturing sector and attract more investment to the United States. Innovative programs like IMCP encourage American communities to work together to craft strong, clear, strategic plans to attract manufacturing investment and jobs to transform themselves into globally competitive commercial hubs.”

“IMCP is one of the main programs at the center of the Administration’s efforts to support job creation and accelerate manufacturing growth to make our communities more globally competitive,” said U.S. Assistant Secretary of Commerce for Economic Development Jay Williams. “These 12 Manufacturing Communities are diverse, public-private consortiums that have put in place best practice economic development strategies that can be replicated by other American communities – including all those who applied for the IMCP designation.”

From the 70 communities that applied, these 12 were selected by an interagency panel, based on the strength of their economic development plans, the potential for impact in their communities, and the depths of their partnerships across the public and private sector to carry out their plans.

The first 12 Manufacturing Communities include:
• Southwest Alabama [8], led by the University of South Alabama
• Southern California [9], led by the University of Southern California Center for Economic Development
• Northwest Georgia [10], led by the Northwest Georgia Regional Commission
• The Chicago metro region [11], led by the Cook County Bureau of Economic Development
• South Kansas [12], led by Wichita State University
• Greater Portland region in Maine [13], led by the Great Portland Council of Governments
• Southeastern Michigan [14], led by the Wayne County Economic Development Growth Engine
• The New York Finger Lakes region [15], led by the City of Rochester
• Southwestern Ohio Aerospace Region [16], led by the City of Cincinnati
• The Tennessee Valley [17], led by the University of Tennessee
• The Washington Puget Sound region [18], led by the Puget Sound Regional Council
• The Milwaukee 7 region [19], led by the Redevelopment Authority of the City of Milwaukee

The 12 designated Manufacturing Communities will receive coordinated support for their strategies from the following eleven federal agencies with $1.3 billion available in federal economic development assistance:
• Appalachian Regional Commission
• Delta Regional Authority
• Environmental Protection Agency
• National Science Foundation
• Small Business Administration
• U.S. Department of Agriculture
• U.S. Department of Commerce
• U.S. Department of Defense
• U.S. Department of Housing and Urban Development
• U.S. Department of Labor
• U.S. Department of Transportation

These communities will also receive a dedicated federal liaison at each of these agencies that will help them navigate available federal resources. They will also be recognized on a government website, accessible to prospective private foreign and domestic investors, looking for information on communities’ competitive attributes.

In order to earn the designation, communities had to demonstrate the significance of manufacturing already present in their region and develop strategies to make investments in six areas: 1) workforce and training, 2) advanced research, 3) infrastructure and site development, 4) supply chain support, 5) trade and international investment, 6) operational improvement and capital access.

In September 2013, the U.S. Commerce Department’s Economic Development Administration and other agencies awarded $7 million in IMCP grants [20] to 44 communities to support the development of long-term economic development strategies to help them attract and expand private investment in the manufacturing sector and increase international trade and exports. The Obama Administration officially launched [21] the national IMCP competition in December 2013. Later this year, the Administration plans to launch a second IMCP competition to designate additional communities, as well as convene the 70 communities that applied for designation to share best practices in economic development planning.

For more information on IMCP, please visit: http://www.eda.gov/challenges/imcp/index.htm [22]

WASHINGTON – To kick off national Engineers Week, The Dow Chemical Company (NYSE:DOW) and Project Lead The Way (PLTW) announced a significant partnership to increase K-12 students’ access to high-quality science, technology, engineering, and math (STEM) education programs. Through a $400,000 commitment, Dow will fund PLTW programs in 17 schools in Indiana, Louisiana, Michigan, and Pennsylvania. These 17 schools enroll more than 14,000 students, and about half of these students are minority students.

Dow’s support of PLTW furthers the Company’s commitment to building the workforce of tomorrow in the communities where its employees live and work. Through PLTW’s hands-on, activity-based K-12 programs, students become engaged in STEM fields while developing critical thinking, problem solving, and collaboration skills – skills identified as crucial by today’s employers.

“STEM-based careers fuel innovation at Dow. We are proud to partner with Project Lead The Way to bring curriculum into our communities’ classrooms that will support teachers by giving them the tools they need to teach STEM subjects, and get students excited about pursuing STEM careers,” said Rob Vallentine, director of Corporate Citizenship at Dow. “The students of today represent the future of this country’s economic prosperity, and Dow is committed to supporting the STEM workforce of tomorrow in our communities.”

The U.S. Department of Commerce estimates 1.2 million unfilled STEM jobs by 2018 as a result of a lack of qualified, trained workers. Coincidentally, STEM jobs are expected to grow by 17 percent, nearly double the rate of jobs in other sectors. Expanding access to STEM education for underrepresented minority students is also of great interest as only 10 percent of U.S. scientists and engineers come from underrepresented minority groups.

“The United States is facing a significant skills gap, and Dow is taking action to fill that gap. They are leading by example,” said PLTW President and CEO Dr. Vince Bertram. “Not only are they creating skilled jobs in our economy, but they are helping to develop the workforce to fill those jobs. We are grateful for Dow’s support of Project Lead The Way, which is giving students across the country access to high-quality educational opportunities.”

Through its STEMtheGAP™ initiatives, Dow’s STEM mission is to build the workforce of tomorrow by supporting teachers, motivating student achievement, developing careers, and collaborating with communities to transform STEM education into a driver for innovation, manufacturing, and economic prosperity. In support of this mission, the Dow partnership is supporting three elementary schools, six middle schools, and eight high schools to bring PLTW programs to their students.

In addition to funding PLTW programs, Dow employees will also engage with teachers and students in PLTW classrooms through the Company’s STEM Ambassadors program. These trained STEM Ambassadors aim to support teachers and inspire students by providing real life examples to make challenging concepts easier to understand, while incorporating a strong focus on sharing exciting opportunities available through pursuing STEM careers.

Dow is funding PLTW programs at the following schools in four key Dow communities:

Guion Creek Middle School – Indianapolis, Indiana
Lincoln Middle School – Indianapolis, Indiana
New Augusta Academy North – Indianapolis, Indiana
Bay City Central High School – Bay City, Michigan
Handy Middle School – Bay City, Michigan
Freeland Middle School – Freeland, Michigan
Freeland High School – Freeland, Michigan
Bullock Creek High School – Midland, Michigan
Bullock Creek Middle School – Midland, Michigan
Emerson site (Ralph Waldo Emerson, Clara Barton and Abraham Lincoln Elementary Schools) – Levittown, Pennsylvania
Buchanan site (James Buchanan, George Washington and John Fitch Elementary Schools) – Levittown, Pennsylvania
Devine site (Mary W. Devine, Lafayette, and Maple Shade Elementary Schools) – Levittown, Pennsylvania
Plaquemine High School – Plaquemine, Louisiana
East St. John High School – Reserve, Louisiana
East St. John Elementary – Laplace, Louisiana
Port Allen High School – Port Allen, Louisiana
Brusly High School – Brusly, Louisiana
These 17 schools join more than 6,500 schools in the 50 states and the District of Columbia currently offering PLTW programs in engineering, biomedical science, and computer science. In addition to STEM curricula, PLTW also provides professional development to each teacher who instructs a PLTW course. Since 1997, PLTW has trained more than 19,000 teachers in its hands-on, project-based approach.

About Dow

Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world’s most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow’s integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2014, Dow had annual sales of more than $58 billion and employed approximately 53,000 people worldwide. The Company’s more than 6,000 products are manufactured at 201 sites in 35 countries across the globe. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

More information about Dow’s commitment to promoting STEM education can be found at www.dow.com/company/citizenship/stem.htm.

About PLTW
Project Lead The Way (PLTW) is a 501(c)(3) nonprofit organization and the nation’s leading provider of K-12 STEM programs. PLTW’s world-class, activity-, project-, and problem-based curriculum and high-quality teacher professional development model, combined with an engaged network of educators and corporate partners, help students develop the skills needed to succeed in our global economy. More than 6,500 elementary, middle, and high schools in all 50 states and the District of Columbia are currently offering PLTW courses to their students. For more information, visit www.pltw.org.

GUANGZHOU, CHINA – The Dow Chemical Company (NYSE: DOW) is participating at Chinaplas 2015, located at Hall 10.2, Booth G-41 at the China Import & Export Fair Complex in Pazhou, Guangzhou. Dow’s Packaging and Specialty Plastics business will showcase its leading innovation and collaboration on packaging technologies and solutions that address China’s packaging needs at all points of the farm-to-table value chain.

Market trends like population growth, rising middle class incomes, and on-the-go lifestyles in China continue to drive demand for high performance plastic packaging that extends food freshness, improves product safety, is both lighter and brighter, and provides user-friendly functionality.

Dow’s product portfolio of resins and adhesives is the broadest in the industry and can deliver a “total package” that is more sustainable, safe, cost efficient, and meets consumer preferences across China.

“By taking a holistic approach across agriculture, harvesting, manufacturing and packaging, Dow is creating solutions for the entire value chain,” said Mark Saurin, Asia Pacific Commercial Vice President, Dow Packaging and Specialty Plastics. “Dow is working at the intersections of the sciences to create innovations that will support the growth in food production and conservation needed to feed China’s population.”

Keeping Food Safe, Secure and Sustainable
Dow’s comprehensive packaging solutions meet high food safety standards and U.S. FDA requirements, offering converters, brand owners and end-users the peace of mind in ensuring convenience and functionality, especially when it comes to keeping food items safe, secure and sustainable. These solutions also meet the demand for reduced weight, increased strength, faster processing and improved downgauging.

Keeping food safe starts at the origin of the food supply chain in farms. Dow’s innovations increase yields and solutions such as greenhouse films protect crops against adverse weather conditions and support better crop growth. Bale silage and silo bag films can prevent the contamination of silage from mould, leading to better productivity from land and animals.

As food gets transported from farms to packaging locations and retailers, secondary and tertiary packaging solutions from Dow ensure consumer packaged goods are well-protected without leakage due to good puncture resistance and toughness against wear-and-tear.

For consumer packaged goods, Dow offers innovations for flexible and sustainable packaging applications such as liquid food, snack food, and meat and cheese to keep food fresh longer and reduce food waste. Food spoilage is a major contributor to the food waste problem in China. The WorldWatch Institute found that in China, US$32 billion worth of food is thrown away every year, with food scraps comprising 70 percent of all waste nationwide.1 Keeping packaged food fresh and secure from outside invaders by delaying spoilage is one of the obvious consumer benefits of Dow’s packaging solutions for the food supply chain.

Food security is further enhanced through Dow’s water-based and solventless laminating adhesives with full regulatory compliance with U.S. FDA, and no solvent residues, meeting continued local requirements for environmental controls.

Dow continues to bring awareness to the reality of the global food crisis and remains committed to developing solutions that reduce packaging leakage in order to reduce food wastage. Dow’s concept of value chain collaboration ensures sustainability and innovation along the entire food supply chain and involves all key players along the entire value chain to tackle the challenge of food waste.

The use of flexible packaging over rigid containers can reduce the carbon footprint of packaging, with significant reduction in packaging material, transportation and overall cost. One of Dow’s solutions which supports this direction is PacXpert™ Packaging Technology. The technologically advanced packaging solution, introduces a new dimension to storage with its distinctive flexibility and extensive functionality. The packaging material technology facilitates the conversion of large plastics containers into portable packages, improving packing density for shipping, logistics, and warehouse efficiency. This enables producers to create food packaging products that allow for easier handling, greater productivity, superior sanitation and processing energy savings.

1 http://www.worldwatch.org/food-waste-and-recycling-china-growing-trend-1

About Dow Packaging and Specialty Plastics
Dow Packaging and Specialty Plastics, a business unit of The Dow Chemical Company (NYSE: DOW), is a $13 billion business that combines core strengths of R&D, worldwide geographic reach, broad product lines and industry expertise to deliver sustainable solutions, products and applications for multiple plastics and adhesives markets. Dow Packaging and Specialty Plastics focuses on high growth market segments in flexible and rigid food packaging, secondary and tertiary packaging, personal hygiene and medical products, and adhesive applications. With 3900 employees, 48 plants and 28 sites spread across 16 countries, Dow Packaging and Specialty Plastics is the largest polyethylene producer in the world, and is a leading innovator and collaborator across the value chain on solutions for better packaging. Visit http://www.dow.com/performanceplastics/ for more information. Follow Dow Packaging and Specialty Plastics on Facebook, Twitter, and LinkedIn.

About Dow
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world’s most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow’s integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2014, Dow had annual sales of more than $58 billion and employed approximately 53,000 people worldwide. The Company’s more than 6,000 product families are manufactured at 201 sites in 35 countries across the globe. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com

WILMINGTON, Del., – Today, DuPont announced it has agreed to acquire Taxon Biosciences, Inc., a leading microbiome discovery company. This acquisition will build on DuPont’s in-house capabilities and unparalleled market access in both seed and crop protection to discover and commercialize biological solutions for agriculture customers globally.

“In 2014, the businesses in DuPont’s Agriculture, Nutrition & Health and Industrial Biosciences segments sold more than $1 billion in biological solutions across four market sectors. Our in-house, cross-business venture, DuPont Biologicals, draws on our world-class science and deep understanding of food and production agriculture markets to deliver value-added crop biological solutions,” said Executive Vice President James C. (Jim) Borel. “Taxon has built a leading technology platform for the discovery of microbial based products that will further strengthen our capabilities in biologicals.”

Based in Tiburon, Calif., Taxon was founded in 2000, by leading microbial geneticists Matt Ashby and Jasper Rine, with the objective of developing a transformational microbial genomics platform to solve critical challenges in agriculture, energy and health sciences. The company holds a broad intellectual property estate in the field of microbial consortia and microbial genomics products which will contribute to the development of new DuPont seed treatment, foliar and soil application products for important row crops, fruits and vegetables.

“The acquisition of Taxon will complement and enhance our in-house microbial discovery programs,” said Frank DeGennaro, director of DuPont Biologicals. “With this added capability, we expect to accelerate our time from discovery to market and we are field testing biological discovery leads identified by Taxon this year.”

“DuPont has a legacy of innovation, and we are excited to join the company in transforming the future of global agriculture through crop biologicals,” said Glenn Nedwin, chief executive officer and president, Taxon Biosciences, Inc. “Our unique technology platform coupled with DuPont’s robust research capabilities and positioning across several markets makes the integration of Taxon into DuPont a natural fit and will support DuPont’s ability to bring new products to the market, faster.”

Crop biologicals include microbes, plant extracts, and other natural substances used to control pests and improve plant health, quality and yield. As part of an integrated management approach to control pests, biologicals can provide more choice and flexibility for growers, and complement leading-edge solutions for growers available from DuPont Crop Protection and DuPont Pioneer.

DuPont Crop Protection recently launched DuPont™ Acapela® Soft Control™ in France that combines an effective biological treatment with new-generation DuPont chemistry for foliar disease control in oilseed rape resulting in added value for our customers. Several DuPont seed products in North America today are treated with biological seed treatment products for properties such as improved stand, vigor and yield.

The financial terms of the agreement were not disclosed. Closing of the acquisition is expected in the second quarter.

Taxon Biosciences, Inc. is a first mover in the industrial microbiome field, utilizes proprietary advancements in genomics, bioinformatics and microbiology to identify, resolve, validate and commercialize microbiome-based products from agricultural or environmental settings. For more information, visit Taxon’s website at www.taxon.com.

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.

NEW YORK, March 5, 2015 – DuPont (NYSE: DD) announced that at the J.P. Morgan Aviation, Transportation and Industrials Conference held today in New York, DuPont Executive Vice President Matthew L. Trerotola discussed strategy, progress and plans to accelerate growth in the three Advanced Materials segments for DuPont. Strengthening and growing the company’s leading position in high-value advanced materials is one of the three areas of strategic priority for DuPont.

Discussing the company’s Advanced Materials segments, Trerotola said, “We’ve made excellent progress in Performance Materials, Safety & Protection and Electronics & Communications. Our bottom line earnings and operating margins have increased, and we are committed to further improvements. Moving forward, we are driving to accelerate growth while expanding margins in support of the DuPont strategy to build a higher growth, higher value company.”

Mr. Trerotola highlighted the strong progress DuPont made across the company in 2014, including: further refining its portfolio with 10 strategic portfolio actions and the advancement of the anticipated mid-year spin-off of Chemours; increasing the company’s cost reduction targets for its operational redesign to at least $1.3 billion by 2017 on an annual run-rate basis; and continuing the company’s commitment to return significant capital to shareholders with $3.7 billion returned to shareholders through share repurchases and dividends in 2014 alone.

Mr. Trerotola also noted several factors the company and Advanced Materials segments are confronting that will have an impact on the first quarter, but expressed confidence in long-term performance: “As we noted before, 2015 will be a challenging economic environment as we face certain headwinds related to the strengthening of the U.S. dollar and the continued volatility in energy markets which impacts our Performance Materials segment. In addition, the unplanned outage at our Chambers Works facility will challenge productivity and earnings in our Safety & Protection segment in the first quarter. We are committed and confident in our ability to execute on our plans while remaining poised to capitalize on changing market conditions and growth opportunities.”

In addition, Mr. Trerotola outlined how DuPont is strengthening and growing its leading positions in Advanced Materials: “Today, DuPont is focused on a $50 billion portion of a $500 billion potential market. We believe we can accelerate our growth in the market space we are currently targeting while tapping into new market opportunities as our businesses execute against their strategies. These strategies include: step-changing applications development; collaborating for maximum success in key markets and applications, and driving an advanced materials pipeline of major innovations that includes both traditional and bio-based materials. While we have made strong bottom line progress in our Advanced Materials segments, we believe these initiatives will help us drive faster top line growth while retaining strong operating leverage.”

“Our market relevance and integrated science are true competitive advantages for DuPont. We use market-facing units, networks and strategic account management to maximize our relevance at key customers. Our business draws on leading science and engineering to bring integrated science solutions to the world. Going forward, we see very exciting opportunities to bring renewables and bio-engineered materials into new and existing applications in our markets,” concluded Trerotola.

DuPont Executive Vice President James C. Borel discussed growth priorities driven by key research advancements and product launches across the Agriculture and Nutrition & Health segments at today’s Bank of America Merrill Lynch 2015 Global Agriculture Conference.

“While farmers worldwide met the challenge of building grain supplies the last two years, long-term demand for agricultural production is expected to continue at the pace of the last decade, when demand for corn and soybeans increased 40 percent,” said Borel. “To meet this demand for more and better food, DuPont is delivering innovative solutions across the food value chain fueled by a robust research pipeline, which leverages our leading positions in seed, crop protection, ag services, biologicals, nutrition science and food formulation.”

Extending DuPont leadership in Agriculture and Nutrition is one of the company’s three strategic priorities to build a higher value, higher growth company. Following the separation of Performance Chemicals, the Agriculture and Nutrition & Health segments are expected to represent about half of total company sales.

Advancing Innovation in Agriculture Research Pipeline

Borel presented an update of the agriculture research pipeline for DuPont, noting six key program advancements and the addition of four research programs which have moved forward out of the discovery phase.

“Focused investments in research and development are yielding exciting innovation in our seed and crop protection pipelines and will position DuPont to better serve our customers and deliver value to our shareholders,” said Borel. “Our global pipeline reinforces our leadership in germplasm and breeding, crop protection, and our growing strength in proprietary biotechnology trait development.”

In addition, Borel highlighted near-term launches in corn by DuPont Pioneer, the advanced seed and genetics business of DuPont. DuPont Pioneer launched Pioneer® brand Optimum® Leptra® corn hybrids in the southern United States in 2014 under a stewarded program. With the recent Chinese import approval of the Agrisure Viptera® trait, DuPont Pioneer will expand its U.S. lineup of Optimum® Leptra® corn hybrids in 2015 and expects also to launch in Brazil for the 2015/2016 Safrinha season, pending completion of field testing and applicable regulatory reviews. DuPont Pioneer anticipates that the approaching launch of DP 4114 will help enable it to develop higher yielding corn hybrids and expand its triple-stack offerings to about half of its North American corn volume mix in the years following introduction. DP 4114 received cultivation approval in the United States and Canada in 2013 and will be tested in Pioneer’s IMPACT™ trial system in 2015. It is anticipated to launch in a stack configuration early in the second half of this decade, pending completion of field testing and applicable regulatory reviews.

In soybeans, DuPont Pioneer is making solid progress transitioning its North America soybean lineup to its newest Pioneer® brand T series soybean varieties, which will account for about two-thirds of volume in 2015. This year Pioneer® brand soybean varieties with the Roundup Ready 2 Xtend™ trait will be tested in IMPACT™ trials with first commercial sales anticipated as early as 2016, pending completion of field testing and applicable regulatory reviews.

While presenting the DuPont Crop Protection pipeline, Borel highlighted our new proprietary seed treatment solutions, including Dermacor® for soybeans which we successfully launched on over 3 million acres in Brazil last summer. The DuPont Crop Protection pipeline was recently named “Best R&D Pipeline” by Agrow for the second consecutive year and third-time overall, building upon the success of innovative insect control products like Rynaxypyr® and Cyazypyr®. Borel noted that over the life of these products, peak annual sales for Rynaxypyr® are expected to approach $1.5 billion and for Cyazypyr® are expected to exceed $500 million.

Borel also spoke about DuPont™ Zorvec™ disease control, a new low-rate mode of action fungicide for fruits and vegetables by DuPont Crop Protection. The first global launches are expected in 2015, pending regulatory approvals. DuPont believes Zorvec™ will provide growers with unmatched consistency and disease control to realize better crops for better business.

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.

WILMINGTON, Del., – Today, DuPont Performance Polymers and DENKA (Denki Kagaku Kogyo K.K. TSE:4061) announced they have signed a definitive agreement to sell DuPont™ Neoprene polychloroprene to Denka Performance Elastomer LLC, a new joint venture company owned 70 percent by DENKA and 30 percent by Mitsui (Mitsui & Co., Ltd. TSE:8031). The sale is expected to close in the first half of 2015 pending receipt of customary regulatory approvals. Financial terms of the deal are not being disclosed.

Neoprene, invented by DuPont in 1931, is a synthetic rubber used for many chemical and weather-resistant products such as wet suits and orthopedic braces. It also is used as a base resin in adhesives, electrical insulation and coatings. DuPont is a leading producer of Neoprene polychloroprene in North America through manufacturing operations at its Pontchartrain Works site in La Place, La. Approximately 235 employees in the United States will be included in the transaction.

“Neoprene has been an important product line within DuPont Performance Polymers and we believe it will truly thrive as part of the Denka Performance Elastomer portfolio,” said Patrick E. Lindner, president of DuPont Performance Polymers. “This agreement further enables the DuPont Performance Polymers business to focus on innovative new offerings that drive profitable growth both today and over the long term.”

“We are excited to welcome Neoprene and the employees who manage this product,” said Shinsuke Yoshitaka, DENKA president & CEO. “Chloroprene rubber is our core business and the acquisition from DuPont will largely contribute to our further sustainable growth. Also, DENKA can establish a flexible supply structure with high-quality products. Furthermore, we expect to enjoy synergies with our Research & Development and technical services, which are our strengths. I believe that these positive effects will enable us to serve the market and the customers much better.”

DENKA was founded in 1915 and is headquartered in Tokyo, Japan. DENKA manufactures and distributes a wide range of chemical products, encompassing organic and inorganic materials, polymer processing, electronic materials and pharmaceuticals. Since 1962, DENKA has been manufacturing polychloroprene in its plant in Omi, Japan, using the acetylene method of polychloroprene production.

DuPont has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.

The start of 2015 saw a modest growth acceleration in the eurozone manufacturing sector. The final seasonally adjusted Eurozone Manufacturing PMI® posted in line with the earlier flash estimate of 51.0 and slightly above December’s print of 50.6.

Improvements in business conditions were seen in Germany, Spain, the Netherlands and Ireland during January, with solid growth again signalled for the latter three. Moreover, growth strengthened in Spain and the Netherlands. The manufacturing downturns in France, Italy, Austria and Greece continued at the start of the year. The rates of contraction in France and Italy eased to near-stabilisation, but Austria and Greece registered steepening downturns.

Manufacturing production rose at the fastest pace for six months in January, underpinned by a mild increase in new order volumes and work on existing contracts. Concurrent growth of production and new business was registered in Germany, Spain, the Netherlands and Ireland.

Italy saw a slight gain in output for the first time since September 2014, and the rate of decline in France eased to the weakest in the current eight-month sequence of contraction. However, the continuing slump in new orders to both nations may act as an ongoing headwind in coming months. Output and new orders also declined in both Austria and Greece. Eurozone manufacturers are facing a duel constraint of weak domestic demand and subdued export performance. The final quarter of last year and the start of 2015 have seen some of the weakest gains in new export business* since the recovery in foreign order inflows began in July 2013. Germany, France, Austria and Greece all reported declines in January, almost offsetting the solid gains seen elsewhere.

Eurozone manufacturing employment rose for the fifth successive month in January. The rate of jobs growth was in line with December’s eight-month high, but remained tepid nonetheless. Workforce numbers rose solidly in Spain and Ireland, while
modest gains were signalled in Italy and the Netherlands. Jobs growth eased to near-stagnation in Germany and Greece, while further losses were highlighted in France and Austria.

The recent sharp declines in international oil prices drove average input costs down at the fastest pace for five-and-a-half years. The steepest reductions in purchase prices were signalled in the Netherlands (fastest since May 2009) Germany (fastest since July 2009), Austria and France (steepest in 30 months in both cases).

The trends in average purchase prices in Italy, Spain, Ireland and Greece also moved back into deflationary territory in January, following increases in December. Lower cost pressures were partly reflected in average selling prices, as output charges fell for the fifth month running and to the greatest extent in over one-and-a-half years. However, the rate of decline in selling prices was substantially less marked than that signalled for input costs. None of the nations covered
by the survey reported an increase in selling prices.

Comment:
Chris Williamson, Chief Economist at Markit said: “Eurozone manufacturing showed signs of pulling out of the doldrums at the start of the year, but the rate of expansion remained disappointingly meagre, vindicating the ECB’s decision to take drastic action to revive the economy.

“The ECB’s ‘bazooka’ of full-scale quantitative easing should boost the euro area economy via improved business and consumer confidence and the weakening of the euro. The currency’s fall should benefit exporting manufacture costs also freeing up more consumer income to spend on goods.

“The survey also brought encouraging news that there are pockets of robust growth in Ireland, Spain and the Netherlands.
“However, Germany, France and Italy are more or less stagnating, and the economic situation in Greece has deteriorated, with its manufacturing sector contracting at the fastest rate for over a year as both exports and home demand fell during
January.

“There is also a real possibility that the impact of the ECB stimulus could be compromised by uncertainty and instability arising from the unfolding political situation in Greece, which remains a major risk to the economic outlook for the region.
“Deflationary pressures also intensified, with average prices charged by manufacturers dropping at the fastest rate since mid-2013, falling in all countries, albeit linked mainly to producers often passing on lower oil prices.”

About Markit
Markit is a leading global diversified provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 3,000 people in 10 countries. Markit shares are listed on NASDAQ under the symbol “MRKT”. For more information, please see www.markit.com.

About PMI
Purchasing Managers’ Index® (PMI®) surveys are now available for 32 countries and also for key regions including the Eurozone. They are the most closely-watched business surveys in the world, favoured by central banks, financial markets and business decision makers for their ability to provide up-to-date, accurate and often unique monthly indicators of economic trends. To learn more go to www.markit.com/economics.

Growth of eurozone manufacturing production accelerated to a ten-month high in March, underpinned by the fastest expansion of incoming new business since April of last year. With the performance of the sector strengthening further, companies raised employment at the quickest pace
for over three-and-a-half years.

At 52.2 in March, up from 51.0 in February, the final seasonally adjusted Eurozone Manufacturing PMI® was above its earlier flash estimate of 51.9. The PMI currently stands at its highest level for ten months and has remained in expansion territory since July 2013.

The stand-out performers in March were Ireland and Spain, who stayed in first and second places respectively in the PMI league rankings. Improved growth was meanwhile seen in Germany, Italy and the Netherlands. Rates of increase in German production and new orders both surged to 11-month records, supported by the steepest gain in new export business since July 2014. Italy also registered solid and accelerated expansions of new work and output. For the Netherlands, however, growth of both variables was slightly slower than in February.

The other nations covered by the survey – France, Greece and Austria – all saw their PMI readings remain below the neutral 50.0 mark. On a mildly positive note, France and Greece at least saw their respective rates of contraction ease over the month. Austria, in contrast, sank back to the bottom of the PMI league table.

March saw the sharpest increase in new export orders* since April 2014, with growth registered in Germany, Italy, Spain, the Netherlands and Ireland. Companies reported that the weaker euro was the main factor driving new export orders higher. Manufacturing employment rose for the seventh successive month in March. The rate of job creation accelerated to a 43-month record. Workforce numbers were increased in Germany, Italy, Spain, the Netherlands, Ireland and Greece, but lowered in France and Austria.

The increase in staffing levels mainly reflected the ongoing improvement in the manufacturing sector, which also led to some reports that growth of new business was testing capacity at a number of firms. This led to a moderate accumulation of outstanding work for the first time in 11 months.

Cost pressures at eurozone manufacturers picked up in March, with input prices posting a modest gain following declines in the prior six months. Although the increase in average purchase prices was only mild, it nonetheless reflected a sharp movement in the trend compared to the prior month. This was reflected in a six-point gain in the Input Prices Index, one of the largest upward shifts in its level in the series history. Some companies linked the increase in input costs to higher import prices due to a weaker euro. Meanwhile, charges fell at the slowest rate in
the current seven-month sequence of reductions.

Chris Williamson, Chief Economist at Markit said:
“The final PMI reading signalled slightly stronger growth of the manufacturing economy than the preliminary reading, adding further to signs that the eurozone economy is reviving after last year’s slowdown. “Producers are benefitting from the weaker euro, which has had the dual effect of boosting competitiveness in export markets as well as making competing imports more expensive in the home markets.

“New orders are consequently showing the best growth for nearly a year, and the fact that manufacturers are boosting their payroll numbers at
the fastest rate for three-and-a half years indicates optimism that the upturn will be sustained in coming months.

“Rising demand is also helping firms and their suppliers to re-establish some pricing power. Factory input prices rose for the first time in seven months and selling prices were broadly stable, providing encouraging news that deflationary forces are easing.

“This is still a fledgling recovery, however, and the overall rate of expansion remains only modest. Importantly, manufacturing is still in decline in France, Greece and Austria, acting as drags on the region’s revival.”

HOUSTON– Exxon Mobil Corporation (NYSE:XOM) is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period to take advantage of the American energy revolution, Darren Woods, chairman and chief executive officer, said Monday.

The projects, at 11 proposed and existing sites, are expected to generate thousands of new high-paying jobs and $20 billion in increased economic activity in Texas and Louisiana, Woods said, highlighting the company’s Growing the Gulf initiative in a keynote speech today at the CERAWeek 2017 conference.

“The United States is a leading producer of oil and natural gas, which is incentivizing U.S. manufacturing to invest and grow,” said Woods. “We are using new, abundant domestic energy supplies to provide products to the world at a competitive advantage resulting from lower costs and abundant raw materials. In this way, an upstream technology breakthrough has led to a downstream manufacturing renaissance.”

ExxonMobil is strategically investing in new refining and chemical-manufacturing projects in the U.S. Gulf Coast region to expand its manufacturing and export capacity. The company’s Growing the Gulf expansion program, consists of 11 major chemical, refining, lubricant and liquefied natural gas projects at proposed new and existing facilities along the Texas and Louisiana coasts. Investments began in 2013 and are expected to continue through at least 2022.

Woods said that ExxonMobil’s Gulf expansion projects are expected to provide long-term economic benefits to the region, noting the creation of direct employment opportunities and the multiplier effects of the company’s investments.

“Importantly, Growing the Gulf also creates jobs and lasting economic benefits for the communities where they’re located,” Woods said. “All told, we expect these 11 projects to create over 45,000 jobs. Many of these are high-skilled, high-paying jobs averaging about $100,000 a year. And these jobs will have a multiplier effect, creating many more jobs in the communities that service these new investments.”

According to the American Chemistry Council, chemical manufacturing is one of America’s top exporting industries, accounting for 14 percent of overall U.S. exports in 2015, and exports of specific chemicals linked to shale gas are projected to reach $123 billion by 2030. Most of ExxonMobil’s planned new chemical capacity investment in the Gulf region is targeted toward export markets in Asia and elsewhere.

“These projects are export machines, generating products that high-growth nations need to support larger populations with higher standards of living,” Woods said. “Those overseas markets are the motivation behind our investments. The supply is here; the demand is there. We want to keep connecting those dots.”

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.

DES PLAINES, Ill., — UOP LLC, a Honeywell (NYSE: HON) company, announced today that UOP C3 Oleflex™ process technology started up and has been successfully operating in Russia, producing high-quality propylene to help meet the global supply shortage of the valuable plastics building block.

Russia’s OOO Tobolsk-Polymer facility, which became the largest Oleflex production unit in the world, is meeting design capacity of 510,000 metric tons annually (MTA) of propylene at its facility in Western Siberia.

“Petrochemical makers are installing additional propylene capacity to meet growing demand and to make up for the shortage of propylene production from traditional refining and petrochemical sources,” said Pete Piotrowski, senior vice president and general manager of UOP’s Process Technology and Equipment business unit. “Oleflex has been a leading technology for converting propane to propylene for more than 20 years, and the start-up of the first Oleflex unit in Russia demonstrates both the need for more propylene capacity in the country, as well as the value of the technology.”

Global propylene demand is growing at about 4 to 5 percent per year. Russia is expected to be a large contributor to propylene production due to the country’s diversification into the petrochemicals sector, which has seen substantial investment in the polyethylene and polypropylene industries, according to GlobalData.

“We licensed UOP Oleflex technology because it perfectly fits our feedstock profile, it is in line with our strategic goals to invest in propylene derivatives, particularly in polypropylene, and because Oleflex is more competitive than most other technologies available on the market,” said Sergey Komyshan, SIBUR’s Managing Director – Head of Basic Polymers Division. “We are one of the region’s largest polypropylene producers, and are in the top quartile of the most efficient polypropylene production facilities globally in terms of cash costs. UOP Oleflex technology is well-aligned with our goals to sustain continued growth and market success.”

The C3 Oleflex process uses catalytic dehydrogenation to convert propane to propylene. Compared with competing processes, UOP’s C3 Oleflex technology provides the lowest cash cost of production, the highest return on investment and the smallest environmental footprint. This superior performance is characterized by low capital cost, high propylene yields, low energy and water consumption, and use of a fully recyclable platinum alumina-based catalyst system. In addition to the C3 Oleflex process, UOP also licenses its C4 Oleflex technology, a butane dehydrogenation process to convert isobutane to isobutylene.

OOO Tobolsk-Polymer, a subsidiary of SIBUR Holding JSC, produces a wide range of high-quality polypropylene used to manufacture goods in Russia and abroad. The facility is located in Tobolsk in the Tymen region of Russia.

UOP LLC (www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary of Honeywell International, Inc. and is part of Honeywell’s Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions, a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.

Philadelphia, PA – Customers of French Market Coffee have always associated the brand with its signature red coffee can, which harkens back to the company’s original Coffee and Chicory label introduced in the late nineteenth century. CROWN Food Packaging North America, a division of Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), recently partnered with the brand, which has been expanding its business nationally, to refresh its packaging, bringing new life to the classic can design.

Founded in New Orleans in 1890, French Market Coffee takes its name from the iconic city landmark. Now a part of Reily Foods, which manufactures and markets a range of private label and specialty brands, French Market prides itself on creating the ‘quintessential New Orleans coffee.’ Famous for servicing the city’s oldest and finest restaurants, the brand offers six different coffee varietals, with both its Dark Roast and Dark Roast with Chicory blends offered in French Market’s ‘signature’ can.

Reily Foods chose Crown to help develop new cans for both varietals. After Reily worked with their creative agency to come up with a concept and a new design for the can branding, Crown’s expertise and support was integral in making the vision a reality. This included scaling and balancing elements like a reflective gold crown and a subtle fencing background for the rounded surface of a metal container. The new 12 oz. coffee cans, which feature an easy-open end and a plastic overcap, retain the look and feel of French Market Coffee’s original red tins but with an enhanced design that keeps them in alignment with the brand’s current image.

“Given the complex nature of the new design, we felt it was essential to work with an experienced partner that could help us achieve the best results on metal packaging. Working with Crown on this project has been the right choice for us, thanks to the strength of its service and the quality of the final packaging that we receive,” said Meynard Pacris, Operations Business Manager for Coffee, Mayo and Sauces at Reily Foods. “Our customers have responded very positively to the new packaging – they really feel that it drives home the connection to New Orleans!”

Reily Food’s relationship with Crown dates back over fifteen years. The two companies have partnered on a number of metal packaging ventures, including new lithographic designs for Reily Food’s private label customers. When the company consolidating its coffee operations, it selected Crown as the exclusive supplier for all of its coffee cans, including for the French Market brand. Crown also supports the company by providing mechanical seaming services.

In Crown’s experience, cans have long proven the ideal format to engage coffee consumers. The company works with coffee brands around the world, including the British icon Fortnum & Mason, who recently launched two elegant new tin designs that included aluminum peelable ends to help preserve the aroma of the coffee. “Metal packaging is very effective platform to help a brand convey a high-quality look and feel,” explained Hella Gourven, Marketing Manager, CROWN Food Packaging North America. “With coffee being an extremely mature market, brands are turning to back to the traditional metal can to present a premium image for their high-end and specialty blends, which are growing in popularity among quality-conscious consumers.”

Cans are also ideal for meeting demand from brand owners for packaging solutions that are both cost-effective and environmentally responsible. One hundred percent recyclable, steel can be reused repeatedly without loss in performance or quality. In the U.S. in 2012, more than 1.3 million tons of tinplate steel were recycled – the equivalent to 21 billion steel cans. A package made of recycled steel reduces greenhouse gas emissions by 75% over a package made with new steel, with each ton of recycled steel saving 2,500 pounds of iron ore, 1,400 pounds of coal and 120 pounds of limestone.

About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, PA. For more information, visit www.crowncork.com.

Fuller’s announces that it has entered into an agreement for the sale of its entire beer business to Asahi Europe Ltd (“AEL”), a wholly owned subsidiary of Asahi Group Holdings, Ltd (“Asahi”), for an enterprise value of £250 million on a debt free, cash free basis (the “Proposed Disposal”).

The business being sold comprises the entirety of Fuller’s beer, cider and soft drinks brewing and production, wine wholesaling, as well as the distribution thereof, and also includes the Griffin Brewery, Cornish Orchards, Dark Star Brewing and Nectar Imports (the “Fuller’s Beer Business” or the “Beer Business”).

Under the terms of the Proposed Disposal, AEL will acquire the brands of the Beer Business (including “London Pride”) and will receive the benefit of a licence, on a perpetual, global, exclusive and royalty-free basis, to use certain trade marks (including the “Fuller’s” name, logo and cartouche) for the provision of beverages. Ownership of the licensed trade marks will be retained by Fuller’s.

Having carefully considered its options for the Beer Business and Fuller’s existing relationship with Asahi, the Board believes that Asahi is the ideal owner of the Beer Business and will create the right environment for the Beer Business to flourish in the future and protect the Fuller’s brewing heritage. The Board welcomes the fact that Asahi also upholds Fuller’s key values of a genuine commitment to brewing excellence and has a proven track record as a long-term steward of iconic brands making them an ideal strategic partner to the Fuller’s pubs and hotels business in the future.

Following Completion of the Proposed Disposal, Fuller’s will be a focused, premium pub and hotel operator pursuing its previously stated strategy of running a stylish, high quality estate, with well-located, well-invested, predominantly freehold sites that are maintained to the high standards that customers have come to expect. Fuller’s will form a strategic alliance with Asahi that will ensure continued access to the high quality premium beer brands Fuller’s has always brewed.

TRANSACTION HIGHLIGHTS

Sale of the Fuller’s Beer Business for an enterprise value of £250 million, representing a multiple of 23.6x EBITDA (of £10.6 million for the 52 weeks ending 31 March 2018);
The price reflects the strategic value of the brands of the Beer Business being acquired, the long-term growth potential of the Beer Business under AEL’s ownership, the value of the Griffin Brewery as well as the expertise and respected industry knowledge of the people employed within the Beer Business;

Substantial premium to the value attributable to the Company’s Shareholders if the Beer Business had remained under Fuller’s ownership;

A strategic alliance between Fuller’s and Asahi, supported by a Long-Term Supply Agreement, will allow Fuller’s to continue providing a high quality beer and cider offering to its customers;

Net cash proceeds of the Proposed Disposal are expected to be approximately £205 million at Completion, taking into account adjustments and after estimated transaction, Reorganisation and separation costs (the “Net Cash Proceeds”);

A return of proceeds between £55 million to £69 million of the Net Cash Proceeds is expected to be distributed to Ordinary Shareholders, representing £1.00 to £1.25 per A and C Ordinary Share and £0.10 to £0.125 per B Ordinary Share;

The Proposed Disposal is not anticipated to impact the level of dividend payments made by the Company as the Board is intending to declare a final dividend for each class of Ordinary Shares for the financial year ending 31 March 2019 of an amount at least equal to the final dividend from the prior financial year and the Board is expecting to maintain a progressive dividend policy going forward;
(1)
The Proposed Disposal is conditional upon the passing of two inter-conditional ordinary resolutions approving the Proposed Disposal, completion of the Reorganisation and obtaining a relevant confirmation from the UK Competition and Markets Authority;
The Proposed Disposal is expected to complete in the first half of 2019.

(1) This statement does not constitute a profit forecast or estimate and should not be interpreted to mean that future earnings per share, profits, margins, and/or cash flow will support such a policy.

The Proposed Disposal will enable Fuller’s management to focus on its pubs and hotels, which is the core of the business and where today 87 per cent of the Fuller’s operating profits are generated (excluding unallocated costs). It will also provide significant capital to accelerate investment in the premium pubs and hotels business both organically and through future acquisitions. The focus of management will remain unchanged, to be a leading operator of stylish pubs and hotels, while driving organic growth through improved marketing and digital communications to grow sales and ensure relevance to today’s consumer, and through developing the people within the business.

As a result of the Proposed Disposal, a strategic alliance will be formed to further strengthen the existing relationship between Fuller’s and Asahi, where AEL acts as a key supplier to Fuller’s pubs and hotels business. A Long-Term Supply Agreement with AEL will ensure Fuller’s will continue to provide the comprehensive high quality beer and cider offering its customers have come to expect. The Board welcomes this strategic alliance with Asahi, a leading global brewer, and envisage that the Proposed Disposal will enhance the ability of management to successfully grow the Fuller’s pubs and hotels business going forward.

In addition to the expected return of proceeds to Ordinary Shareholders, the Board also intends to use some of the Net Cash Proceeds to make a contribution to the Pension Scheme. The remaining funds will be used to grow and further develop Fuller’s pubs and hotels business.

Under the terms of the Proposed Disposal, all responsibilities relating to the Pension Scheme would be retained by Fuller’s.

The Proposed Disposal constitutes a Class 1 transaction under the Listing Rules. Completion is conditional upon, amongst other things, the passing of two inter-conditional ordinary resolutions approving the Proposed Disposal by (i) the A, B and C Ordinary Shareholders (the “Ordinary Shareholder Resolution”) and (ii) the A Ordinary Shareholders (the “A Ordinary Shareholder Resolution”) (together, the “Resolutions”). Accordingly, a circular containing full details of the Proposed Disposal, the Resolutions and eligibility to vote on the Resolutions, the Board’s recommendation and irrevocable undertakings to vote in favour of the Resolutions, and the notice convening an Extraordinary General Meeting at which such approval for the Resolutions will be sought, will be published in due course.

The Company has received irrevocable undertakings from the Directors and certain other Ordinary Shareholders to vote at the Extraordinary General Meeting in favour of the Resolutions in amounts representing (in aggregate): (i) in respect of the A, B and C Ordinary Shareholder Resolution, approximately 28.19 per cent. of the total issued Ordinary Shares of Fuller’s as at 24 January 2019 (being the latest practicable date prior to publication of this announcement); and (ii) in respect of the A Ordinary Shareholder Resolution, approximately 5.62 per cent. of the total issued A Ordinary Shares of Fuller’s as at 24 January 2019 (being the latest practicable date prior to the publication of this announcement).

Simon Emeny, Chief Executive of Fuller’s, commented:

“This deal secures the future of both parts of our business including protecting the heritage of the Griffin Brewery in Chiswick, which was particularly important to the Fuller’s Board. We remain incredibly proud of the Fuller’s Beer Business, its history and the high quality premium beer and cider portfolio that we have developed. Brewing has formed an integral part of our history and brand identity, however the core of Fuller’s and the driver of our future growth is now our premium pubs and hotels business.”

“I am delighted that this transaction maintains Fuller’s long association with the Beer Business and that we will continue to enjoy a strong relationship with Asahi as a key supplier. We look forward to continuing our alliance and developing a mutually beneficial partnership that will see both businesses flourish in the future. Asahi, as a company recognised for brewing excellence, is an appropriate custodian of our rich brewing history and the Griffin Brewery, and will ensure the Fuller’s Beer Business brands will reach an even wider global audience.”

Akiyoshi Koji, CEO of Asahi Group Holdings, Ltd, commented:

“We have long admired the brewing business and exceptional beer brands that Fuller’s has built over the years and the high degree of respect it commands throughout the global beer industry. Fuller’s is one of the few brewers that show the same genuine commitment to brewing excellence and quality that we do. We strongly believe that the brands of the Beer Business, including London Pride, Frontier and Cornish Orchards among others, complement our premium portfolio in the UK market. In particular, London Pride is a fantastic brand with an illustrious heritage dating back to the 1950s and we are excited about its untapped international potential which Asahi has the scale and global network to unlock.”

Rothschild & Co is acting as sponsor and sole financial advisor to Fuller’s on the Proposed Disposal.

There will be a conference call for sellside analysts and investors at 0800 hours (GMT) today. Please contact Tom Berger at Instinctif Partners on 020 7457 2834 or tom.berger@instinctif.com for dial-in details.

An accompanying slide presentation to the conference call will be available from 0750hours (GMT) at:

www.fullers.co.uk/corporate/investors/financial-reports

TRADING UPDATE

The Company also announces today its trading update for the 42 weeks to 19 January 2019.

The Company has delivered a very strong performance since it last reported, especially in its Managed Pubs and Hotels where like for like sales have risen 5.6 per cent in the last 10 weeks. For the 42 week period, like for like sales in Managed Pubs and Hotels have risen 4.7 per cent, like for like profits in Tenanted Inns have risen 2 per cent and total beer and cider volumes in The Fuller’s Beer Company have remained level.

Simon Emeny, Chief Executive, said: “This is a very good set of figures and I’m particularly pleased with the way our Managed Pubs and Hotels performed over the important five week Christmas and New Year trading period. Like for like sales for December rose 8.7 per cent and our pre-booked covers rose by 16 per cent.

“Since we last reported, we have opened our latest transport hub site, The Signal Box at Euston, which is proving very popular and have refurbished The Blackbird at Earl’s Court, including developing nine new boutique bedrooms. We are on site at The Hercules in Lambeth, which will open before the year end, and in the next few weeks we will open 15 stylish new bedrooms at The Counting House in Cornhill, a large freehold site in the heart of the City of London. We have also transferred another six tenancies to our turnover agreement.

“As has been widely commented, we are in an uncertain and challenging consumer environment. However, Fuller’s has well-invested premium pubs and an excellent team of people, underpinned by a long-term vision and a clear, well-executed strategy that is proven to grow sales, attract new customers and deliver returns for our Shareholders.

“We will next update the market on 7 June 2019, when we announce the Company’s full year results for the 52 weeks to 30 March 2019.”

HIGH POINT, N.C. – U.S. Consumer Product Safety Commission Chairman Inez Tenenbaum told furniture manufacturers this week to “aim for the highest level of safety” in their designs to minimize health and safety risks to consumers.

Tenenbaum addressed members of the American Home Furnishings Alliance Board of Directors during the group’s May meeting in Arlington, Va. The annual event includes visits with key legislators on Capitol Hill.

Tenenbaum recalled visiting several furniture factories and showrooms at AHFA’s invitation in 2011. “To see the manufacturing process from start to finish provided me with valuable insights,” she remarked.

Those insights are helping to inform the CPSC’s work toward a mandatory flammability standard for upholstered furniture. “Throughout my tenure as chairman, I have made it clear that we are committed to developing an upholstered furniture standard that does not require the use of harmful chemicals,” she said.

“I want to see progress on this rule this year and want all stakeholders, including all of you, to stay engaged with CPSC as we move forward,” she told the AHFA directors.

Tenenbaum thanked AHFA’s Vice President Bill Perdue for his leadership of the ASTM subcommittee on furniture safety and commended the committee for its work on updating the furniture tip-over standard.

“I hope that each of you – whether you make adult furniture, children’s furniture, or both – will use all of the communication tools at your disposal to encourage your customers to anchor their furniture and televisions,” she added.

Tenenbaum concluded her remarks by explaining the CPSC’s concept of “safety by design.”

“As I have travelled around the United States and the world, I have shared with companies that it is vital to design out potential health and safety risks in each and every model – before manufacturing and assembly even starts,” she said. In the residential furniture industry, that means ensuring that products are made without lead, cadmium, antimony, chromium and other toxic metals.

“I believe that safety by design – which includes meeting current standards and anticipating and preventing new hazards – can be a winning approach for all industries to incorporate.”

In addition to the CPSC Chairman, the AHFA Board was addressed by Senators Ron Johnson (R-WI), Mark Warner (D-VA), Richard Burr (R-NC) and Kay Hagan (D-NC), as well as Representatives Lee Terry (R-NE) and Alan Nunnelee (R-MS).
Courtesy of American Home Furnishings Alliance

BOSTON, Mass. 2020—GE (NYSE:GE) announced that, together with Danaher Corporation (NYSE:DHR) (“Danaher”), it has entered into a consent decree agreement with the U.S. Federal Trade Commission (the “FTC”) in connection with GE’s definitive agreement to sell its BioPharma business to Danaher for approximately $20 billion of net proceeds. GE currently expects to close the transaction on March 31, 2020.

GE Chairman and CEO H. Lawrence Culp, Jr., said, “Today’s update represents a critical milestone on our journey to transform GE. The value from this transaction will fortify our considerable sources to de-risk our balance sheet and continue to solidify our financial position. As we navigate this challenging external environment, we are focused on protecting the safety of our people, serving our customers in this critical time of need, and continuing to strengthen our businesses.”

The acceptance by the FTC satisfies all required antitrust clearances needed to be obtained for the transaction. In addition to the FTC, the transaction has also been cleared by the European Commission and the Brazilian, Chinese, Israeli, Japanese, Korean, and Russian antitrust authorities. The closing of the acquisition remains subject to other customary closing conditions set forth in the purchase agreement. The transaction is not subject to a financing condition or a shareholder vote.

Caution Concerning Forward-Looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information, as well as our annual report on Form 10-K. We do not undertake to update our forward-looking statements.

About GE
GE (NYSE:GE) rises to the challenge of building a world that works. For more than 125 years, GE has invented the future of industry, and today the company’s dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. GE’s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE’s mission and deliver for its customers. www.ge.com

GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.ge.com/reports and @GE_Reports on Twitter, as well as GE’s Facebook page and Twitter accounts, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.

CHICAGO — GE Capital, Rail Services announced today it is delivering 875 tank cars that meet the 2015 Safety Appliance Standard to customers. GE Capital is one of the first lessors to offer tank cars that comply with the Association of American Railroads (AAR) Safety Appliance Standard S-2044 that was adopted by the Federal Railroad Administration (FRA) in February. All railcars manufactured after January 2015 will be required to meet this new standard.

The new Safety Appliance Standard, which includes improvements to handholds, ladder treads, sill steps and running boards, is used by railroad personnel and shippers during operations and varies by car type. The new standard is intended to make railroad procedures such as operating hand brakes and switching operations safer for employees performing these functions.

“The changes in the safety appliance standards will positively impact the industry overall,” said Joe Lattanzio, president and CEO of GE Capital, Rail Services. “Worker safety is always a top priority for all of us in the rail industry. We knew our customers would want cars with the new safety appliance standards as soon as possible.”

Gerald Chalko, senior engineer for GE Capital, Rail Services, was part of the task force that the AAR and the FRA formed to establish the new Safety Appliance Standard. ”These new standards have improved ergonomics that help to address worker safety concerns by providing more natural and stable positions for personnel,” said Chalko.

About GE Capital, Rail Services
GE Capital, Rail Services provides specialty financing with deep rail industry experience and a highly diversified equipment portfolio. A leader in the industry with over 100 years of experience, Rail Services offers a variety of railcars as well as repair and maintenance services throughout North America. For more information, visit www.gecapitalrail.com or follow us on Twitter@Rail_GECapital.

SAN RAMON, Calif. – GE Digital today unveiled a new version of its DER Orchestration software to enable electric utilities to manage and orchestrate Distributed Energy Resources (DERs) in an end-to-end manner via flexible deployment options ranging from Edge to Cloud. DERs are either electric energy producing or storing resources or controllable loads that are connected to an electric distribution system. As part of GE Digital’s Grid software portfolio, DER Orchestration 2.0 provides operators with the requisite tools and situational intelligence to recognize developing situations and act quickly and decisively, orchestrating flexibility across the grid for both utility and non-utility DERs, while unlocking new revenue streams.

Customers such as PPL Electric Utilities in the United States are using our DER Orchestration solutions, and EDP Distribuição is testing it in a real demo in Portugal under the ‘InteGrid’ European Commission funded project.

DERs can include solar panels, wind turbines, combined heat and power plants, electricity energy storage, small natural gas-fueled generators, electric vehicles and any type of controllable loads, such as HVAC systems and electric water heaters. Increasing levels of DERs are impacting electric utilities’ safe and efficient delivery of electricity. Operations are challenged to effectively utilize both utility-owned and third-party owned DERs due to limited visibility. Effective management of DERs requires modeling and awareness of physical and contractual characteristics, and locations throughout a broad range of applications, spanning planning and operational domains.

DER Orchestration 2.0 helps electrical grid operators address two key challenges: intermittency and dispersion. Intermittency presents a problem for utilities as the energy injected or withdrawn by DERs is intermittent, with flow tied to how the wind blows and the sun shines, as well as how prosumers want to consume/generate/store energy for their DER-related housing, transportation or energy efficiency services. The fact that DERs are geographically dispersed across the Distribution grid further complicates matters. GE Digital’s solution enables operators to anticipate potential violations DERs could cause by processing historical data and explanatory variables to generate forecasts of load and intermittent generation from DERs, as well as identify location, severity and timing of potential reliability issues.

“Now more than ever, software is mission critical,” said Jim Walsh, GE Digital General Manager, Grid Software. “In today’s fast-changing and uncertain environment, our customers are on the front line of the world’s toughest industrial challenges and DERS may well prove to be the most disruptive influence in the history of the electric grid. Our DER Orchestration solutions can significantly increase the volume of renewable imports onto the electric grid, effectively manage DERs as non-wire alternatives to costly grid and generation upgrades and orchestrate DERs from planning through to control.”

The DER Orchestration Forecasting module provides additional algorithms to further expand a utility’s ability to anticipate potential grid violations despite the intermittency of renewables and DERs. New algorithms for the forecasting of wind turbine generation sites mix the best of physical forecasting and machine learning. Machine learning enables utilities to factor in any real-life bias that may exist between wind and weather patterns and a wind generator’s actual generation output, while physical forecasting enables utilities to represent wind turbines’ rare limit “behaviors,” such as high wind cut-offs.

In addition, the Forecast Adaptation functionality enables users to tune the forecasts (load, photovoltaics or wind) to real-time measurements in case a systematic bias is detected during the latest minutes of operation. Finally, an enhanced modeling capability enables utilities to address more use cases of Forecasting across Transmission and Distribution (T&D) which is essential to address the coordination required for DERs.

DER Orchestration 2.0 also provides a gateway enabling the ADMS to communicate with DERs via the most comprehensive industry open standard for DER communications: the IEEE 2030.5 protocol.

This protocol allows utilities to monitor, control, and send schedules over a wide range of media, including the Internet, to single or grouped DERs, or directly to DER aggregators.
IEEE 2030.5 allows utilities to communicate with numerous large and small, utility and non-utility, DERs to monitor and fully unlock their real power, reactive power and autonomous control potentials.
An enhanced user interface (UI) for the ADMS user provides a system drill-down view of DERs based on their as-operated grid connections. The user can view DERs at any selected grid hierarchy level, along with their status, dynamic capabilities, and availability for grid services. The availability for grid services is the result of both the technical abilities of the DER, as well as potential limitation of the interconnection or aggregation contracts. The ADMS operator can dispatch individual or groups of DERs in various control modes, while being aware of the dispatch’s real-time grid impact.
DER Orchestration 2.0, part of GE Digital’s ADMS solution, is now generally available. To learn more, please go to “Orchestrating DERs at Scale Across the Electric Grid and Its Prosumers.” Webinars on End-to-End DER Orchestration Visibility and the IEEE 2030.5 Gateway are also available for viewing.

Drives continuous improvement with operations optimization, visibility, and closed-loop analytics to rapidly identify problems, discover root causes, predict future performance
Proficy CSense unique in the market with 5-in-1 analytics capabilities: Analysis, Monitoring, Prediction, Simulation, Optimization
Proficy Sensor Health ensures clean sensor data to reduce risk and support digital transformation

SAN RAMON, Calif. – GE Digital today announced the release of two new Proficy Analytics solutions, Proficy CSense 8.0 and Proficy Sensor Health. These unique software applications offer industrial companies a path to drive efficient operations, increase product quality, minimize downtime, and reduce risk related to compliance and safety.

Proficy CSense is proven industrial analytics software that improves asset and process performance with a Process Digital Twin that helps industrial organizations meet the challenges of fast-changing demand, regulatory requirements and operator reaction times. Process Digital Twins create models of ‘the best way’ to run a process in a given environment. By identifying the most optimal process, plant operators can ensure they are consistently delivering against quality, cost and volume objectives.

In many plants, engineers would need several analytics software packages or a team of data scientists to help them take their domain expertise and do analysis of the data, simulate the data to create certain situations, set up monitoring routines, and then be able to build predictive analytics on that data. They can then take the results of those analytics and feed them back into the control process in order to create that continuous loop of optimization.

A unique product, Proficy CSense allows these critical users to do all of that with one easy-to-use, graphical tool with a powerful analytics engine. It allows engineers to easily analyze, monitor, predict, simulate, and optimize – with process changes driven automatically to an organization’s automation systems. The new Version 8.0 makes it even easier to install, analyze data, develop analytics, and visualize results. Benefits of Proficy CSense include:

Reduce process variability — Combine data and use analytics and machine learning to improve process variability.
Speed troubleshooting – Use data to troubleshoot causes of asset and process performance issues rapidly.
Increase engineering productivity – Proficy CSense’ visual analytics accelerate problem detection and improve efficiency.
Decrease downtime – Monitor and ensure health and performance of base-layer PID control loops.
Optimize with a Process Digital Twin – Mine new insight from industrial data to maximize return on assets.
Improve data integrity – Validate and clean raw sensor data at the source to ensure integrity of downstream systems
Used around the world, Proficy CSense is proven in diverse industries including Food & Beverage, Mining, Automotive, Metals, Water/Wastewater, Chemicals, and more. As examples, Proficy CSense and its Process Digital Twin technology have helped a water utility predict pump failure up to 16 days in advance, reduced process variation by 40% at a base metals refinery, and decreased customer complaints 33% at a major food manufacturer.

New Sensor Health App

“We have worked closely with many customers to create specific solutions to meet their analytics needs and drive digital transformation,” said Richard Kenedi, General Manager, Manufacturing and Digital Plant, GE Digital. “One of the things that we learned was that a lot of customers have challenges with sensors. Sensors can be the weakest link in the data chain. A bad sensor means bad data, and bad data results, no alarm, and possibly a bad decision or missing a critical deviation.”

GE Digital turned this voice of customer information into a new smart app called Proficy Sensor Health which monitors and detects sensor data abnormalities with AI/ML. Proficy Sensor Health continually monitors and analyzes sensor data, learning patterns, applying intelligence, and automatically generating alerts to speed response. Users can also target anomalies and quickly minimize their potential impact and ensure clean sensor data for downstream analytics and optimization.

Proficy Sensor Health is an easy-to-use app that does not require programming, IT, or data scientists. It embeds with GE Digital’s Proficy Operations Hub, allowing mapping to model elements representing historical data tags for sensors. With information and alerts at a glance, users can respond faster to faulty sensors and deliver on outcomes like increased product quality, minimized downtime, reduce compliance and safety risks, reduced scrap, recalls, and costs, and ultimately speed time-to-value.

“Digital transformation is a mandatory journey for manufacturers and processors to optimize operations and efficiency, improve quality, reduce unscheduled downtime, and fulfil safety and compliance requirements,” according to Craig Resnick, Vice President at ARC Advisory Group. “Solutions such as Proficy CSense, with its Digital Twin capabilities, help industrial companies to better monitor, analyze, simulate, predict, and optimize processes. When combined with Proficy Sensor Health to protect the integrity of the sensor data, this solution will help to ensure continuous improvement based on fact-based intelligence and bring operational resilience.”

Dammam, Saudi Arabia; GE (NYSE: GE) announced US$100 million in new programs that will further the company’s localization efforts, build innovation capacity, and create jobs in advanced manufacturing and software analytics.

This new investment adds to GE’s US$1 billion commitment over the past three years in the Kingdom, and aligns the company with the country’s Vision 2024 and Ninth Development Plan to diversify the economy, drive industrialization and manufacturing, and build the next-generation of human capital skill-sets in materials and data science.

The research and manufacturing programs will aim at enhancing the energy efficiency and sustainability priorities of the country. In manufacturing, GE will expand its facilities in Saudi for the region with the production of GE’s HA gas turbines – the world’s largest and most efficient gas turbine – at GE Manufacturing Technology Center in Dammam.

The Oil & Gas facility in Dammam will include the manufacturing of wellheads, ‘Christmas Trees’ and other Pressure Control technologies as well as well performance services repair capability for submersible pumps. GE is also planning a first of its kind regional LED manufacturing facility.

In R&D, today’s announcement places the Saudi GE Innovation Center in Dhahran Techno Valley at the heart of the company’s technology innovation ecosystem in the Kingdom. The programs include a ‘Hot & Harsh’ Global Research & Development Program, a Software & Analytics ‘Industrial Internet’ Lab, a GE ‘in Saudi for region’ hub for Energy Efficiency technology development as well as a Monitoring & Diagnostics Center at GE Manufacturing Technology Center.

Jeffrey Immelt, GE Chairman & CEO said: “We are proud to work with our partners to co-create solutions that will find application both in Saudi Arabia and globally. We believe that future skill-sets demand strong capability in both software and hardware; and we are committed to delivering that to our Saudi workforce and our ecosystem of partners, such as Saudi Aramco and Saudi Electricity Company, as well as SMEs.”

The Hot & Harsh Global Research Program will study the effect of high temperature, dust, corrosion, erosion, duty cycle, and fuel harshness which have a critical impact on the reliability and efficiency of power plants. This research & development program will design and prototype gas turbine and auxiliaries components for testing at a simulated ‘hot and harsh’ environment at GE Manufacturing Technology Center.

In addition, GE will collaborate with King Abdullah University of Science and Technology (KAUST) on material testing and combustion research. The outcomes will support the development of GE’s HA gas turbines, which will be manufactured at GE Manufacturing Technology Center in late 2016. GE’s HA gas turbines provide the world’s highest combined-cycle efficiency, power plant availability and unprecedented operational flexibility.

GE and King Fahd University of Petroleum & Minerals (KFUPM) will collaborate on advanced prototyping and additive manufacturing working with the planned state-of-the-art Technology Advanced Prototyping Center (TAPC). The program addresses the need to develop capabilities and skill-sets in material sciences, applied development and advanced prototyping. The partnership will also provide training, consultation, educational, supply chain and engagement support to TAPC and its staff at GE’s global advanced manufacturing & micro factory facilities. Also, GE is working with KAUST to advance fuel flexibility of gas turbines, which in turn can positively impact power plant availability, enabling power producers to meet the growing demand for electricity in the Kingdom.

The focus of GE Oil & Gas engineering research will be on developing new and enhanced technologies in the upstream and downstream sectors with the goal of increasing efficiency and production. This will include new software solutions as well as the next-generation of down-hole technology and Electric Submersible Pump (ESP), which has the potential to be a game-changer for the industry both in Saudi Arabia and across the world. In addition, the research will aim to advance corrosion monitoring and resistance technologies to better withstand high sour-gas environments prevalent in Saudi Arabian oil and gas fields.

Establishing an Energy Efficiency technology development hub will bring together GE’s capability across the energy value chain – from supply to demand – to address the country’s energy challenges through innovative solutions in fuel consumption, emissions and real-time data. This will be developed at the Saudi GE Innovation Center for Saudi Arabia and the region.

GE is focused on bringing its technological leadership in advanced materials science, predictive analytics as well as developing the most efficient and cost-effective energy systems. This will enable customers to optimize asset performance and operations for increased production and higher efficiencies.

Developed as part of GE’s 2012 US$ 1 billion investment, the Saudi GE Innovation Center has recorded its first technology patent, delivered training to over 600 professionals on energy efficiency technologies, hosted numerous thought leadership forums, and welcomed over 1,000 high-profile industry visitors.

Also part of the investment, GE Manufacturing Technology Center is today a Center of Excellence that has serviced over 550 gas turbines, supports 70 customers in 30 countries exporting 80 percent of its parts. The facility employs over 700 skilled workers, 75 percent of them Saudi professionals.

Another important milestone was the ground-breaking for the expansion of the GE Oil & Gas Manufacturing Facility, located in Dammam 2nd Industrial City, which covers an area of approximately 40,000 square meters. It builds on today’s Pressure Control equipment manufacturing capabilities, with plans to package and assemble equipment for GE Oil & Gas businesses including expanding Pressure Control, Measurement & Control, Subsea Systems and artificial lift.

With a presence of over 80 years, three offices and seven facilities, Saudi Arabia accounts for the largest GE workforce in the Middle East with over 1,600 employees driving the healthcare, transportation, power, oil & gas, water and aviation businesses. GE is focused on taking its work into the next industrial era with technological solutions that create economic and social value to the country and its people.
Join the conversation at our GE Hewar blog: http://middleeast.geblogs.com/

About GE:
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

LUFKIN, TEXAS, — Seeking to improve and sustain its manufacturing capabilities to meet the growing demand for oil and gas production and power transmission equipment, GE Oil & Gas (NYSE: GE) today announced it plans to invest $60 million in expanding and modernizing its foundry operations in Lufkin, Texas. The Lufkin foundry produces industry-leading iron castings used to make renowned Lufkin beam pumping units and Lufkin power transmission equipment.

GE plans to demolish 30,000 square feet of its existing 515,000-square-foot facility and construct 72,000 square feet of new buildings. The company also plans to refurbish the remaining facilities at the site in Angelina County.

The facility upgrades will create a simplified production process flow, improve employee working conditions and provide GE’s customers with improved quality and delivery schedules.

The Lufkin foundry originally began operating in 1902. While there have been various upgrades to the foundry throughout its history, this proposed investment would infuse the site with modern technology and practices to reduce emissions and boost production efficiency in an increasingly competitive global marketplace.

“We chose to invest in modernizing and improving our existing foundry because of the rich history and dedicated, skilled workforce associated with the Lufkin operation here in Texas,” said Jerome Luciat-Labry, president of Well Performance Services for GE Oil & Gas. “The goal is to make the facility as efficient as possible and help strengthen the competitive position of our business around the world. We are excited about continuing to support manufacturing jobs in the United States and especially here in Angelina County where Lufkin Industries began.”

“By having its own foundry, GE Oil & Gas has a strategically integrated supply chain that allows the company to more rapidly meet the needs of its customers, particularly in the fast-growing unconventional oil and gas sector,” said Luciat-Labry.

Design work for the project is expected to begin in 2014. As currently proposed and pending government approvals and permits, construction would be carried out in four phases commencing in 2016. Under that schedule, construction is expected to be complete in about three years.

The foundry manufactures gray and ductile iron castings, producing an estimated 72,000 tons of products each year. About 87 percent of the foundry’s products are used to supply GE’s own Lufkin factories while the remainder is sold externally to other customers.

The modernization of the Lufkin facility is expected to keep the foundry operating for generations to come and continue to provide jobs in the local economy.

GE’s planned $60 million investment reflects the company’s continued commitment to the Lufkin business and community. These renovations will not only improve safety and efficiency, but also will allow the foundry to continue operating for the foreseeable future.

In 2013, GE announced it completed its acquisition of Lufkin Industries for approximately $3.3 billion. The move broadened GE Oil & Gas’ artificial lift capabilities with solutions for a wider variety of well types and technology for production automation and optimization in the drilling industry. GE has invested more than $85 million in the Lufkin business globally since the acquisition.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

About GE Oil & Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today’s toughest challenges in order to fuel the future. Follow GE Oil & Gas on Twitter @GE_OilandGas.

BOSTON, MA (USA) – September 6, 2016 – GE (NYSE: GE), the world’s leading digital industrial company, today announced plans to acquire two suppliers of additive manufacturing equipment, Arcam AB and SLM Solutions Group AG for $1.4 billion. Both companies will report into David Joyce, President & CEO of GE Aviation. Joyce will lead the growth of these businesses in the additive manufacturing equipment and services industry. In addition, he will lead the integration effort and the GE Store initiative to drive additive manufacturing applications across GE.

“Additive manufacturing is a key part of GE’s evolution into a digital industrial company. We are creating a more productive world with our innovative world-class machines, materials and software. We are poised to not only benefit from this movement as a customer, but spearhead it as a leading supplier,” said Jeff Immelt, Chairman and CEO of GE. “Additive manufacturing will drive new levels of productivity for GE, our customers, including a wide array of additive manufacturing customers, and for the industrial world.”

GE expects to grow the new additive business to $1 billion by 2020 at attractive returns and also expects $3-5 billion of product cost-out across the company over the next ten years.

Arcam AB, based in Mölndal, Sweden, invented the electron beam melting machine for metal-based additive manufacturing, and also produces advanced metal powders. Its customers are in the aerospace and healthcare industries. Arcam generated $68 million in revenues in 2015 with approximately 285 employees. In addition to its Sweden site, Arcam operates AP&C, a metal powders operation in Canada, and DiSanto Technology, a medical additive manufacturing firm in Connecticut, as well as sales and application sites worldwide.

SLM Solutions Group, based in Lübeck, Germany, produces laser machines for metal-based additive manufacturing with customers in the aerospace, energy, healthcare, and automotive industries. SLM generated $74 million in revenues in 2015 with 260 employees. In addition to its operations in Germany, SLM has sales and application sites worldwide.

“Additive manufacturing fits GE’s business model to lead in technologies that leverage systems integration, material science, services and digital productivity,” said Joyce. “It will benefit from the GE Store and our core engineering capability.”

Arcam and SLM will bolster GE’s existing material science and additive manufacturing capabilities. GE has invested approximately $1.5 billion in manufacturing and additive technologies since 2010. The investment has enabled the company to develop additive applications across six GE businesses, create new services applications across the company, and earn 346 patents in powder metals alone. In addition, the additive manufacturing equipment will leverage Predix and be a part of our Brilliant Factory initiative.

“We chose these two companies for a reason,” said Joyce. “We love the technologies and leadership of Arcam AB and SLM Solutions. They each bring two different, complementary additive technology modalities as individual anchors for a new GE additive equipment business to be plugged into GE’s resources and experience as leading practitioners of additive manufacturing. Over time, we plan to extend the line of additive manufacturing equipment and products.”

The additive effort will utilize GE’s global ecosystem, but be centered in Europe. GE will maintain the headquarters locations and key operating locations of Arcam and SLM, as well as retain their management teams and employees. These locations will collaborate with the broader GE additive ecosystem including the manufacturing and materials research center in Niskayuna, New York, and the additive design and production lab in Pittsburgh, Pennsylvania. They will also complement the technologies brought on by other key acquisitions such as Morris Technologies and Rapid Quality Manufacturing.

Each acquisition is structured as a public tender offer for all of the outstanding shares of stock of each company. The closing of each public tender offer is subject to various conditions, including minimum acceptance thresholds and regulatory approvals. GE is in the process of making the necessary filings with authorities with respect to such tender offers, and, upon approval, the documents will be made publicly available.

Additive manufacturing (also called 3D printing) involves taking digital designs from computer aided design (CAD) software, and laying horizontal cross-sections to manufacture the part. Additive components are typically lighter and more durable than traditionally-manufactured parts because they require less welding and machining. Because additive parts are essentially “grown” from the ground up, they generate far less scrap material. Freed of traditional manufacturing restrictions, additive manufacturing dramatically expands the design possibilities for engineers. “Additive provides a new palette for engineers to create. Parts are also being designed in GE Power, Oil & Gas, Healthcare and across GE’s services businesses,” said Joyce. “We see value potential to reduce product cost and improve NPI spend. Ultimately, as we develop more productive machines, we can build additive manufacturing ‘as a service’ for our customers.”

In July, GE Aviation introduced into airline service its first additive jet engine component – complex fuel nozzle interiors – with the LEAP jet engine. The LEAP engine is the new, best-selling engine from CFM International, a 50/50 joint company of GE and Safran Aircraft Engines of France. More than 11,000 LEAP engines are on order with up to 20 fuel nozzles in every engine, thus setting the stage for sustainably high and long-term additive production at GE Aviation’s Auburn, Alabama, manufacturing plant. Production will ramp up to more than 40,000 fuel nozzles using additive by 2020. GE Aviation is also using additive manufacturing to produce components in its most advanced military engines. In the general aviation world, GE is developing the Advanced Turboprop Engine (ATP) for a new Cessna aircraft with a significant portion of the entire engine produced using additive manufacturing.

“GE’s aspirations in additive fits our long-term business model. We have world-class industrial businesses that leverage systems integration, material sciences, services and Predix,” said Immelt. “We want all of our businesses to leverage the GE Store, promote digital differentiation, and drive productivity for GE and our customers. We are excited about the opportunity.”
GE will host an investor call at 8:30AM ET to discuss these transactions. To tune in and access additional documents visit www.ge.com/investor.

About GE
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
GE Aviation, an operating unit of GE, is a world-leading provider of jet engines, components and integrated systems for commercial and military aircraft. GE Aviation has a global service network to support these offerings. For more information, visit us at www.geaviation.com.

Paris – GE Renewable Energy announced today that it has been selected by OX2 as the supplier for the 132 MW Metsälamminkangas wind farm, in Finland. The project, which will use 24 of GE’s Cypress onshore wind platform, represents GE’s first Cypress-equipped wind farm in Finland. OX2 will operate the Cypress turbines at 5.5 MW, with a rotor diameter of 158m. The end-user and owner of the wind farm will be Lundin Petroleum.
The deal, which includes a multi-year service contract, takes full advantage of the Cypress Platform’s two-piece blade design provided by LM Wind Power, a GE Renewable Energy business. The turbines will be equipped with GE’s Ice Mitigation System in order to endure icing conditions for substantial parts of the year. The installation of the wind turbines at the project site will commence in Q2 2021 and the turbines will be fully commissioned and operational by the end of 2021.
The wind farm nominal capacity is 132 MW, which will generate 400 GWh of electricity per year – equivalent to the electricity consumption of more than 80,000 households (5,000 kWh per household).
Peter Wells, GE’s CEO of Onshore Wind in Europe, commented: “OX2 is one of the biggest developers of wind farms in the Nordic region, and we are thrilled they’ve selected our brand-new Cypress platform. Our goal is to help our customers drive energy costs down every day, and Cypress is ideally suited to make the best use of the country’s wind speed and landscape.”
The Cypress onshore wind platform enables significant Annual Energy Production (AEP) improvements, increased efficiency in service ability, improved logistics and siting potential, and ultimately more value for customers. The two-piece blade design enables blades to be manufactured at even longer lengths, improving logistics to drive costs down and offer more siting options, in locations that were previously inaccessible.
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About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With more than 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy, or on www.twitter.com/GErenewables
About OX2
OX2 develops, builds and manages renewable power generation. OX2 has taken a leading position in large-scale onshore wind power over the past 15 years, having generated more than 2 GW of wind power in the Nordic region. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is located in Stockholm, Sweden. OX2 has sales revenues of approx. EUR 470 million. For more information, please visit: www.ox2.com

Paris, FRANCE  — GE Renewable Energy’s Grid Solutions business (NYSE:GE) has secured its first “Green Gas for Grid” – or “g³” (pronounced “g-cubed”) – industrial orders. Together, German’s specialty chemicals leader Evonik and UK’s Omexom, an Engineering Procurement and Construction (EPC) company, recently ordered a total of 18 g³ gas-insulated switchgear (GIS) bays.

g³ is GE’s game-changing alternative to sulphur hexafluoride (SF₆), the world’s most potent greenhouse gas widely used in high-voltage equipment, including switchgear bays. Switchgear bays are found at substations and help dispatch or cut electrical power in case of a problem on the grid.

g³ products feature the same high performance and reliability as SF₆ equipment but have a gas mass with more than a 99% reduced CO₂ equivalent value. More importantly, life-cycle assessments (LCAs) have shown that g³ products have a greatly reduced CO₂ impact on the environment compared with SF₆ products. Additionally, g³ products do not cause pollution transfers to other environmental indicators because they have the same compact dimensions as traditional SF₆ products.

Evonik signed a contract for 10 F35-145kV g³ GIS bays for its Marl Chemical Park in western Germany. Commissioning is estimated for June 2021. Omexom selected GE as its 132 kV GIS supplier for an industrial customer’s waste plant in the UK. The contract for eight 145 kV GIS bays using g³ was signed in March, with commissioning estimated for September 2021.

Commenting on its g³ order, Jürgen Bücker, Head of Regulation Management Energy Networks at Evonik said: “g³ was a natural choice for Evonik. Not only do the g³ products offer us the same reliability and ease of handling as our previous SF₆ equipment, they will go a long way in helping us reach our goal of halving our absolute Scope 1 and Scope 2 greenhouse gas emissions by 2025.”

“Our industrial customer chose g³ due to its drastically reduced impact on the environment,” said Christopher Niven, Operations Manager at Omexom. “Our customer was particularly impressed by the fact that g³ offers the best overall environmental life-cycle assessment of SF₆-free gas-insulated switchgear equipment,” he added.

“We are delighted to have received our first industrial orders for our g³ high-voltage equipment. This demonstrates customers’ confidence in g³ products as a game-changing alternative to SF₆ products beyond the transmission and distribution industry,” said Emanuel Bertolini, Chief Commercial Officer at GE’s Grid Solutions.

With these two industrial orders, GE has now sold more than 100 g³ GIS bays since launching g³ on the market in 2016. Eighteen transmission and distribution utilities have installed g³ equipment at a total of 26 sites across Europe. Together, these utilities have avoided the use of more than 565,000, tons of CO₂ equivalent on the grid, With the largest 145 kV GIS SF₆-free installed base, g³ is the leading SF₆-free solution for high-voltage equipment.

SF₆ is estimated to contribute 23,500 times more emissions than CO₂, if leaked, and can remain in the atmosphere for up to 3,200 years.

The development of g³ has taken more than ten years of dedicated work by GE’s research and development teams in France and Switzerland in collaboration with 3M.

For more information on GE’s high-voltage g³ substation equipment and roadmap to 2025, visit our website.

Click here for GE’s g³ interactive application.

About GE Renewable Energy
GE Renewable Energy is a $15 billion business that combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400 gigawatts of clean renewable energy and equipped more than 90% of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons. Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy, or on www.twitter.com/GErenewables

About GE’s Grid Solutions
Grid Solutions, a GE Renewable Energy business, serves customers globally with more than 15,000 employees in approximately 80 countries. Grid Solutions helps enable utilities and industry to effectively manage electricity from the point of generation to the point of consumption, helping to maximize the reliability, efficiency and resilience of the grid. For more about GE Renewable Energy’s Grid Solutions business, visit https://www.gegridsolutions.com

BOSTON, Mass. —GE (NYSE:GE) announced today it has signed a definitive agreement to sell its Lighting business to Savant Systems, Inc., an industry leader in the professional smart home space. Financial details of the transaction were not disclosed.

GE Chairman and CEO H. Lawrence Culp, Jr., said, “Today’s transaction is another important step in the transformation of GE into a more focused industrial company. Our GE Lighting colleagues will join a fast-growing leader in home automation that shares their passion for bringing the future to light. Together with Savant, GE Lighting will continue its legacy of innovation, while we at GE will continue to advance the infrastructure technologies that are core to our company and draw on the roots of our founder, Thomas Edison.”

Savant Founder and CEO Robert Madonna said, “Savant’s mission from the start has been to create the number one smart home brand in the world, and I am confident that the acquisition of GE Lighting has moved us significantly toward that ultimate goal. We are committed to ensuring that GE Lighting’s long history of industry leadership continues, while bringing exceptional value and reliability to retail partners and consumers as the number one intelligent lighting company worldwide. Never before has connectivity, security, intelligent lighting and entertainment, all enjoyed within the comforts of home, been more top of mind with consumers.”

For nearly 130 years, GE Lighting has been at the forefront of every major lighting innovation, from the dawn of incandescent bulbs to industry-first LED and smart solutions along with the world’s first voice-embedded lighting product. Today, GE Lighting’s portfolio includes leading home lighting and innovative smart home solutions. GE Lighting will remain headquartered in Cleveland, Ohio, and its more than 700 employees will transfer to Savant upon completion of the transaction.

The proposed transaction will bring together this legacy and expertise with Savant’s best-in-class smart home solutions and renowned culture of innovation, creating a union of trusted and recognizable premium brands in the lighting and connected home technology markets.

Savant, with award-winning products and solutions that span lighting, security, climate, whole-house entertainment including smart speakers, energy management and beyond, is one of the fastest-growing smart home companies and is committed to supporting innovation in the lamp space, helping retailers grow point of sale year over year. While the acquisition of GE Lighting will broaden the market reach of both companies, the Savant brand remains steadfastly committed to the professional installation channel for the home, and it will continue to invest heavily in the development of the most advanced products, solutions and services for this market.

The proposed transaction includes a long-term licensing agreement for use of the GE brand. The transaction is subject to customary closing conditions and is expected to close in mid-2020. UBS Investment Bank acted as lead financial advisor to GE.

Caution Concerning Forward-Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information, as well as our annual report on Form 10-K. We do not undertake to update our forward-looking statements.

About GE

GE (NYSE:GE) rises to the challenge of building a world that works. For more than 125 years, GE has invented the future of industry, and today the company’s dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely.  GE’s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE’s mission and deliver for its customers. www.ge.com.

GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.ge.com/reports and @GE_Reports on Twitter, as well as GE’s Facebook page and Twitter accounts, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.

About Savant 

Savant Systems, Inc., a Massachusetts-based company, is a recognized leader in home control and automation, and one of the fastest-growing smart home companies in the luxury and mid-markets. Savant’s powerful Pro technology brings together all of the vital pillars of the connected home – climate, lighting, entertainment, security and energy – together in a single application interface for the homeowner. This comprehensive whole-home control system, available through iOS and Android, delivers the premiere experience in all of home automation and is available through Magnolia Design Centers and Savant’s global network of Authorized Integrators. Learn more at www.savant.com.

Cambridge, Massachusetts: February 21, 2024 – Today, GE Vernova launched GridOS® Data Fabric, the first data fabric designed for grid orchestration, to help utilities operate a grid that is both smarter, as renewable energy scales, and more resilient, as extreme weather events increase.

The grid today is more complex than ever before, and energy data is a contributor to this complexity, as this data is dispersed across the energy network, multiplying exponentially and creating data challenges for electric utilities to manage. GridOS® Data Fabric uses federation to access decentralized data from multiple sources and virtualization to create a centralized view across the grid ecosystem, from transmission, distribution and the edge, and information technology (IT) and operational technology (OT) applications. This unified data view helps grid operators discover, govern, and utilize large volumes of highly distributed data to make better decisions faster while orchestrating the grid in real-time.

“We are working to address complications arising from big energy data,” said Sanjay Banga, President, Transmission and Distribution Vertical at Tata Power. “Unlocking energy data across the grid will help us address variable renewable power, grid disruption, and the induction of millions of EVs, solar panels, solar pumps, and IoT edge devices. Scalable solutions that make data management easier for utilities will help us better forecast generation and load for grid balancing and optimize capex for optimal data analytics. This supports our drive toward 24/7 availability of reliable, sustainable power for end users,” added Banga.

Energy data provides opportunities for electric utilities
As utilities modernize the grid by installing line sensors and smart meters, they are able to gather large amounts of data to enhance grid intelligence. They also need to process an increasing number of external data sources, such as weather, wildfire, traffic, and emergency services information. GridOS® Data Fabric is designed to integrate energy data from across OT and IT, as well as these external data sources to facilitate coordinated decision-making.

“Energy data plays a key role in delivering a more efficient grid. Utilities will need to connect energy data from across the grid ecosystem to effectively automate grid operations, orchestrating more intelligent, secure, and resilient grid that is ready and built for future electrification needs. By leveraging energy data, AI and machine learning (ML) powered technologies, utilities can move at speed to meet demand while addressing renewables management and electrification challenges,” said Mahesh Sudhakaran, General Manager at GE Vernova’s Grid Software business.

Collaborations to scale up grid modernization
Collaborations are key to accelerating grid orchestration and scaling breakthrough technologies that rely on energy data. Itron, an American energy, water, smart city, Industrial Internet of Things, and intelligent infrastructure services company, will leverage GE Vernova’s GridOS® Data Fabric to connect grid operations and grid edge data, from sources such as residential solar, electric vehicles, and more. “A key component of the GridOS® Data Fabric software is its ability to connect and integrate data to make more accurate real-time decisions that enable a reliable and resilient grid. The data to be exchanged with Itron’s Grid Edge Intelligence solutions can provide new insights to promote grid stability and to train and power AI and ML applications that help automate key aspects of the grid operation,” said Don Reeves, Senior Vice President, Outcomes at Itron.

GE Vernova’s GridOS® strategy is centered around a modular, composable, data-driven software portfolio designed to orchestrate a more sustainable energy grid and help utilities keep pace with the energy transition. This announcement builds on GE Vernova’s acquisition of Greenbird Integration Technology AS and the launch of GridOS® in 2023. “This launch includes GridOS® Connect, our energy data integration engine, a key component for the federated grid data fabric that feeds continuously updated data sets into the system. This is information that has been difficult for utilities to compile and analyze holistically in the past,” said Thorsten Heller, Chief Innovation Officer at GE Vernova’s Grid Software business. “With GE Vernova’s acquisition of Greenbird Integration Technology AS last year, we are ready to help utilities unlock data for a smarter, resilient grid that is fit for future generations.”

The announcement comes ahead of DISTRIBUTECH International, an annual transmission and distribution event, where GE Vernova will be showcasing its electrification grid hardware and software solutions that are designed to help utility customers address the challenge of big data, climate change, and energy security to accelerate the energy transition and orchestrate a more sustainable energy grid.

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Notes to Editors:

GE Vernova’s GridOS® Data Fabric website
GE Vernova’s GridOS® Data Fabric whitepaper
DISTRIBUTECH

GE Vernova will be attending DISTRIBUTECH International from 26-29 February 2024.
Executives will be available for briefings and interviews with attendees and the media at the GE Vernova booth #2127.
Please contact Arti Mohan or Becky Norton for media availabilities at DISTRIBUTECH International.
About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova’s Electrification Software business is focused on providing a suite of software products and services to customers aiming to accelerate a new era of energy by electrifying and decarbonizing the energy ecosystem through intelligent and efficient data analytics, monitoring, and management.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

About Itron
Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com.

Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

WILMINGTON, North Carolina: February 14, 2024 — GE Vernova’s Nuclear Fuel business, Global Nuclear Fuel (GNF), today announced that it has received approval from the U.S. Nuclear Regulatory Commission (NRC) to manufacture, ship and analyze the performance of nuclear fuel with Uranium-235 enrichments of up to 8 weight percent.

“These regulatory milestones build on our long history of designing and fabricating fuel for the nuclear industry,” said Mike Chilton, Executive Vice President, GNF. “We will continue to innovate to help our customers run their plants even more efficiently and be ready to support the next generation of reactor technology with reliable, flexible fuel products as the industry progresses to the use of higher enrichments.”

With the latest NRC approval of GNF’s fuel fabrication license amendment, the company’s manufacturing facility in Wilmington, NC is the first commercial facility in the U.S. to hold a license to fabricate fuel enrichments up to 8 weight percent. The NRC has issued a Certificate of Compliance allowing GNF to ship nuclear fuel bundles up to 8 weight percent utilizing the company’s RAJ-II shipping container. The NRC has also approved licensing topical reports for advanced nuclear methods that enable GNF to analyze fuel with enrichments greater than 5 weight percent.

These approvals were made possible in part by work GNF and GE Vernova’s Advanced Research business have conducted for the U.S. Department of Energy’s Accident Tolerant Fuel (ATF) Program. GNF is developing and deploying fuel technologies with enhanced accident tolerance and operational flexibility while enabling sustained economic performance by improving bundle efficiency.

Higher enrichment fuels are anticipated to improve nuclear fuel cycle economics including through power uprates for existing boiling water reactors and also for the next generation of reactor technology including advanced and small modular reactors.

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About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 employees across 100+ countries around the world. GE Vernova’s Nuclear Power business, through its global alliance with Hitachi, is a world-leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, which is one of the simplest, yet most innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world-leading supplier of boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd. and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

CHARLOTTESVILLE, VA —GE Intelligent Platforms (NYSE: GE) today announced the company’s QuickPanel+™ operator interface (OI) for the Industrial Internet now features multi-touch technology, providing the same pinch-to-zoom functionality as today’s popular consumer touchscreen devices.

Multi-touch and swipe viewing are a worldwide standard in consumer digital interfaces, so viewing system-wide details even on a 7″ display is simple with the new QuickPanel+ multi-touch functionality. Double-tapping or pinching enables the interface to be enlarged to up to 400% of its original size. Navigation between interactive schematics can be achieved by simply swiping the screen. Multi-touch and swipe also allows developers to build more intuitive HMIs by eliminating the need for a formal menu system.

QuickPanel+ integrates process control, view and an option to run an embedded data historian in a single device with the latest touchscreen technology to provide the high performance, connectivity and user experience expected in today’s increasingly connected manufacturing environments. A general purpose operator interface capable of connecting to a variety of industrial PLCs and PACs, the QuickPanel+ is designed specifically to take advantage of the Industrial Internet. The latest in touchscreen technology makes it as responsive as a tablet or smartphone, yet robust enough to withstand industrial environments and applications, even if the user is wearing gloves.

“QuickPanel+ is the first operator interface that is truly intuitive, empowering businesses to be more efficient and effective on the floor and in the field,” said Tom Craven, Product Manager for Operator Interface Solutions for GE Intelligent Platforms. “Today’s engineers and operators expect today’s technology to be available to them everywhere. QuickPanel+ was designed with the user in mind, to be crystal clear, fast, and highly responsive.”

A plug-and-play operator interface, QuickPanel+ is not only compatible with GE systems but can also be integrated with a broad range of third-party controllers and I/O to meet customer and application needs. It is available in 7″, 10″, 12″ or 15″ screen sizes, and with faster processing speeds and more memory, QuickPanel+ delivers lower total cost of ownership, speeds implementation time and time to market, and makes integration easy.

QuickPanel+ also offers a fully-functional browser and multimedia support with the Windows EC7 operating system. This functionality enhances customization of the OI to user or customer needs: Users can pull up training videos, compile reports or access other necessary information like parts inventory to work efficiently.

“With 50 billion machines connecting to the Internet in the next five years, the need for control system components that enhance performance without increasing complexity are critical,” said Craven. “Incorporating the latest in touch-screen technology for the ease of use and instant information expected in the smartphone era makes automation work better and add more value to the business.”

BADEN, SWITZERLAND—November 21, 2017—Aligning with India’s goal to improve the efficiency and reduce emissions of the country’s installed fleet of coal-fired power plants, GE’s Power Services business (NYSE: GE), in consortium with NGSL (50:50 joint venture of NTPC and GE) and Gujarat State Electricity Corporation Limited (GSECL), today announced the milestone results of a steam turbine modernization project at the Ukai power station in the state of Gujarat. The project was completed on May 24, 2017, by utilizing GE’s latest modernization solutions, including its Advanced Steam Path (ASP) technology—part of the company’s Fleet360* portfolio

“Power generation efficiency and emissions are widely discussed topics around the world and will play a critical role, especially in existing coal fleets, in how we work to meet future energy demands and challenges on a global scale,” said Mr. Pradip Dahake, managing director, GSECL. “India is no exception. When it came time for us to modernize some of our generation equipment, it was GE’s cross-fleet service capabilities that gave us the efficiency and emissions improvements we were looking for. GE’s solutions enabled us to better position our operations to meet not only expected increases in demand, but also future, potential, emissions requirements.”

At Ukai, GE modernized the 200-megawatt (MW) Bharat Heavy Electricals Limited (BHEL)-supplied, LMZ steam turbine (unit 4) at the 1,350-MW Ukai power station with its ASP technology. The ASP modernization features high-pressure and intermediate-pressure full module upgrades and a low-pressure inner block upgrade.

The retrofit will extend the unit’s life by 25 years, and it restored its output back to its original capacity of 200 MW. Final tests at Ukai’s plant displayed more efficient operations that will help the plant reduce its coal consumption by more than 140,000 tons per year and reduce carbon dioxide emissions by 180,000 tons per year. The emissions reduction will provide environmental benefits equal to the amount of carbon dioxide (CO2) absorbed by approximately 732 square kilometers of forest per year (an area 35 percent bigger than the Corbett National Park) or equivalent to 162,000 Indian cars being taken off the road. In addition, reducing coal consumption will result in approximately US$7 million savings for the utility every year.

Upgrading Ukai is a milestone project for GE’s Powering Efficiency Center of Excellence (COE), which aims to slash global CO2 emissions from the world’s fleet of existing coal plants through a total plant hardware and software solution approach.

“By combining our cross-fleet capabilities with our Powering Efficiency COE’s commitment to boost efficiency and reduce emissions of coal-fired power plants, we provide our customers with the tools they need to modernize the world’s installed steam turbine fleet to meet future energy challenges,” said Ashok Ganesan, senior executive in charge of steam plant solutions for GE’s Power Services business and the global COE leader.

“With GE’s acquisition of Alstom’s power business back in 2015, we added significant technologies and capabilities to help modernize coal-fired power plants,” Ganesan continued. “We offer power producers added value with our Fleet360 portfolio, and we have comprehensive capabilities to service and upgrade not only our own equipment, but also that of more than 90 other original equipment manufacturers.”

This project is a first-of-its-kind shaftline retrofit for BHEL 200-MW class units in India and is aimed at increasing power, efficiency and reliability while also reducing emissions. Earlier this year, GE announced it would help NTPC Limited, India’s largest utility, to modernize three 200-MW Ansaldo steam turbines with ASP technology at the Ramagundam station. The upgrades will increase turbine output and improve efficiency and flexibility. Upgrade projects like these will better position the country to meet future energy demands and challenges including backing up renewables—in the New Policies Scenario, electricity demand will more than triple in the next two decades, rising by 4.9 percent per year on average from 900 terawatt-hours (TWh) in 2013 to almost 3,300 TWh by the end of 2040.

About GE
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Power
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable. For more information, visit the company’s website at www.gepower.com.

About GE’s Power Services
GE’s Power Services, headquartered in Baden, Switzerland, delivers world-class service solutions for our customers across total plant assets and their operational lifetimes. This organization supports 2,800+ customers worldwide with an installed base of 28,000+ power generation assets across 90+ brands of power generation equipment and taps into the Industrial Internet to improve the performance of our solutions over the entire life cycle through the power of software and big data analytics.

About NGSL
NTPC GE Power Services Pvt. Ltd. (formerly NTPC ALSTOM Power Services Pvt. Ltd) an ISO 9001:2008 compliant organization, formed in September 1999, is a 50: 50 Joint Venture Company of NTPC Limited, India and GE Power Systems GmbH, Germany (A GE group Company committed to provide energy efficient retrofit solutions for coal based thermal power stations in India. It provides cost effective, technologically advanced and environmental friendly engineering solutions along with world class erection services to its customers enabling them to generate clean and efficient power.

New York, N.Y. — GE today announced a partnership with Local Motors, the open-source hardware innovator, to launch a new model for the manufacturing industry. The partnership will pair co-creation and micromanufacturing to build and commercialize the next evolution of various GE products. Focused on speeding the time from mind to market, the partnership will leverage advanced manufacturing processes and an open innovation approach to engineering—delivering benefits for consumers and enterprise alike.

The partnership will source collaborative ideas online from a community of engineers, scientists, fabricators, designers and enthusiasts who will focus on identifying market needs and solving deep engineering challenges to unlock breakthrough product innovations. As part of the partnership, a new microfactory — a specialized facility focused on prototyping and producing a small batch of products at a rapid pace — will be established where community ideas will be built, tested and sold.

GE Executive Director of Global Innovation Steve Liguori said, “At GE over the past years, we’ve redefined our approach to innovation, focusing on R&D as well as co-creation, open collaboration and partnership, which has allowed us to engage new audiences and develop a following across various industry sectors. Today, a new era of manufacturing is dawning—and with Local Motors, we are pioneering the future of work, fast tracking a new model for the manufacturing industry, and improving and expanding GE’s product offering to better meet future customer needs.”
The open platform, FirstBuild, will officially launch in the summer of 2014 and will be the home for a global community of innovators to prototype, iterate and refine existing GE products, as well as surface new designs. The most popular innovations may then be selected for testing, rapid prototyping and small volume production at the microfactory, which will be open to the public.

Local Motors CEO Jay Rogers said, “GE has demonstrated impressive leadership in its commitment to advanced manufacturing, lean business principles and the power of the crowd. These three ingredients are critical for building on a rich tradition of innovation. Together, Local Motors and GE will provide a powerful platform to discover innovators and, in turn, make revolutionary new products available to consumers. Rapid iteration, rapid development and rapid manufacturing will make an enduring impression on the world’s manufacturing history.”

The first set of projects will focus on GE Appliances and the future of cooking, inviting community members to submit and discuss ideas to improve the performance of select major kitchen appliances. The first product is expected to be available to U.S. consumers by late 2014. Looking to the future, GE will evaluate applications of this business model across the company’s other business units. For more information, please visit www.firstbuild.com.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.
About GE Appliances
GE Appliances is at the forefront of building innovative, energy-efficient appliances that improve people’s lives. GE Appliances’ products include refrigerators, freezers, cooking products, dishwashers, washers, dryers, air conditioners, water filtration systems and water heaters. General Electric works on things that matter to build a world that works better. For more information on GE Appliances, visit www.ge.com/appliances.

About Local Motors
Local Motors has pioneered the online design and hardware co-creation market by making available low-cost professional tools, efficient small-scale manufacturing capabilities and go-to-market strategies that empower hobbyist innovators and Original Equipment Manufacturers (OEMs) alike.

This news is courtesy of www.ge.com

BOSTON– In what may be the most perfect union of superpowers, Gillette and Stark Industries have joined together with one goal in mind: create one of the best razors in the world. In fact, Gillette has allowed Stark Industries to take over its R&D department at World Shaving Headquarters to deliver an epic shave using Avengers-inspired technology.

Of course, Stark Industries is no stranger to the toughest technological challenges, having conquered robotics, aeronautics, fringe science, and weaponry. Yet, the task at hand is a tough one: setting out to build a razor that rivals Gillette’s best razor to date, the Fusion ProGlide with FlexBall Technology. But Stark Industries is up for the challenge.

“Gillette has developed one of the best shaving technologies around, but we wanted to see how Avengers-inspired technology would work in a razor,” said Abe Zimmer of Stark Industries.

The Gillette/Stark Industries collaboration has already taken the city of Boston by storm, as a joint Gillette/Stark Industries sign now adorns the top of Gillette’s global headquarters. And Stark Industries is taking this mission very seriously. Its R&D team has spent the last week using its own famous technology to build four prototypes of razors that promise to set a new standard for all razors going forward.

The prototypes have been modeled after members of the Avengers: Iron Man, The Hulk, Captain America, and Thor.

The Repulsor1 with Exoblade has an Arc Reactor Technology that generates a perpetual energy supply to obliterate face hairs with Uni-beam pulse bolts. The Gillette XL Gamma with stress-triggered sensors and an unstable molecular structure can increase up to 700% in razor mass and brute shaving force. The Gillette Ultra Strike is rebuilt with Super Soldier Technology and has a rare Vibranium-coated Shield Cartridge that shoots out from the handle to cut targeted hairs. And finally, the Gillette Thunder scorches hairs to the follicle with micro-lightning and an honor based gyro-gravity field to make it borrow-proof.

“Certainly, Stark Industries has access to technology much different than Gillette has developed over our 110 years in the grooming business,” said Stew Taub, Director of Shave Care R&D at Gillette. “We are excited to see what happens in testing as the Avengers-inspired technology is incorporated into the razors.”

Guys can learn more about these razors by checking out the video on YouTube or by visiting Gillette.com.

About Gillette
For over 110 years, Gillette has delivered precision technology and unrivaled product performance – improving the lives of over 800 million men around the world. From shaving and body grooming, to skin care and sweat protection, Gillette offers a wide variety of products including razors, shave prep (gels, foams and creams), skin care, after shaves, antiperspirants, deodorants and body wash. For more information and the latest news on Gillette, visit http://www.gillette.com/. To see our full selection of products, visit http://www.gillette.com/en/us/shop-now.aspx.

About Procter & Gamble
P&G serves nearly five billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, Wella® and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.

About Marvel’s Avengers: Age of Ultron
Marvel Studios presents Avengers: Age of Ultron, the epic follow-up to the biggest Super Hero movie of all time. When Tony Stark tries to jumpstart a dormant peacekeeping program, things go awry and Earth’s Mightiest Heroes, including Iron Man, Captain America, Thor, The Incredible Hulk, Black Widow and Hawkeye, are put to the ultimate test as the fate of the planet hangs in the balance. As the villainous Ultron emerges, it is up to The Avengers to stop him from enacting his terrible plans, and soon uneasy alliances and unexpected action pave the way for an epic and unique global adventure.

Marvel’s “Avengers: Age of Ultron” stars Robert Downey Jr., who returns as Iron Man, along with Chris Hemsworth as Thor, Mark Ruffalo as Hulk and Chris Evans as Captain America. Together with Scarlett Johansson as Black Widow and Jeremy Renner as Hawkeye, and with the additional support of Don Cheadle as James Rhodes/War Machine, Cobie Smulders as Agent Maria Hill, Stellan Skarsgård as Erik Selvig and Samuel L. Jackson as Nick Fury, the team must reassemble to defeat James Spader as Ultron, a terrifying technological villain hell-bent on human extinction. Along the way, they confront two mysterious and powerful newcomers, Pietro Maximoff, played by Aaron Taylor-Johnson, and Wanda Maximoff, played by Elizabeth Olsen and meet an old friend in a new form when Paul Bettany becomes Vision.

Written and directed by Joss Whedon and produced by Kevin Feige, p.g.a., Marvel’s Avengers: Age of Ultron is based on the ever-popular Marvel comic book series “The Avengers,” first published in 1963. Louis D’Esposito, Alan Fine, Victoria Alonso, Jeremy Latcham, Patricia Whitcher, Stan Lee and Jon Favreau serve as executive producers. Get set for an action-packed thrill ride when The Avengers return in Marvel’s Avengers: Age of Ultron on May 1, 2015.

About Marvel Entertainment
Marvel Entertainment, LLC, a wholly-owned subsidiary of The Walt Disney Company, is one of the world’s most prominent character-based entertainment companies, built on a proven library of more than 8,000 characters featured in a variety of media over seventy years. Marvel utilizes its character franchises in entertainment, licensing and publishing. For more information visit marvel.com. © 2015 MARVEL

BOSTON–In the world of marketing, less than seven percent of directors are women.* Gillette Venus wants to help close that gap with the launch of the Her Shot campaign, a social experiment in storytelling and celebration of all the ways a female perspective can disrupt and improve the world.

Gillette Venus is partnering with 10 up-and-coming female directors to create video content spotlighting the importance of a woman’s point of view and sharing unique perspectives on the positive impact this can have on the world. The brand is also partnering with actress/director Regina King to serve as a voice of inspiration to the directors, providing tips and advice on success so they can elevate their voices in the industry.

Although shaving has been an important step in many women’s everyday routines for decades, shaving products weren’t truly designed for women until 2001 when Gillette Venus launched the first razor made specifically for a woman. Razors created to fit a woman’s shaving needs are just one expression of what designing for a woman really means, and Gillette Venus wants to explore all the ways that the designed-for-her difference can come to life with this campaign.

“Whether it’s stronger female characters or a more realistic portrayal of the female experience, there’s so much potential for women to shape the world with the stories they tell. I’m looking forward to seeing the unique perspectives from these 10 women,” says Regina King. “Right now with the majority of content coming from male directors, we’re too often seeing the world through a male lens. I’m excited to partner with Gillette Venus on this campaign because giving women more of these content creation opportunities is a step in the right direction.”

Gillette Venus is inspired by women from all walks of life, and the brand knows that every woman has a unique perspective and story that is waiting to be told. That’s why the brand tapped into Fiverr, the world’s largest marketplace of creative and digital services, to select 10 female directors to be the driving forces behind these stories.

“Gillette Venus has always designed products based on listening to women and what they want. With this campaign, we’re continuing to promote female perspective and design, but through a lens,” says Hillary Mone, North America Gillette Venus Brand Manager.

Earlier this year, the Procter & Gamble Company announced its commitment to gender equality through a series of new actions, commitments and partnerships to achieve 100% accurate and positive portrayals of women in advertising and media. In that spirit, the Her Shot campaign is all about supporting female creativity and committing to bringing more of it to the forefront.

You can learn more about the campaign and view all the content from these directors by visiting the brand’s Instagram TV hub at Instagram.com/GilletteVenus and follow along with the conversation using #HerShotxVenus.

*Source: https://www.freethebid.com/how-to/

About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

Goodyear is collaborating with the Department of Defense, the Air Force Research Lab, BioMADE and Farmed Materials to accelerate commercialization of natural rubber from dandelions

AKRON, Ohio, — The Goodyear Tire & Rubber Company today announced a multi-year, multi-million-dollar program supported by the U.S. Department of Defense (DoD), the Air Force Research Lab (AFRL) and BioMADE to work with Ohio-based Farmed Materials to develop a domestic source of natural rubber from a specific species of dandelion.

Natural rubber has been classified as a strategic raw material that serves as a critical ingredient in military, aircraft and truck tires. Today, more than 90 percent of the world’s natural rubber is made from latex derived from rubber trees and is primarily sourced from tropical locations outside of the U.S.

The program will build on research that analyzed more than 2,500 species of plants but found only a few with properties suitable for use in tires. Taraxacum kok-saghyz, a species of dandelion known as TK, has proven to be a valuable alternative to natural rubber trees.

Farmed Materials has shown initial positive results in pilot programs for TK, yielding strong harvests that necessitate the need for additional planting and funding.

“Global demand for natural rubber continues to grow, and it remains a key raw material for the tire industry,” said Chris Helsel, senior vice president Global Operations and Chief Technology Officer for Goodyear. “This is a critical time to develop a domestic source of natural rubber, which may help mitigate future supply chain challenges.”

“This partnership highlights how BioMADE brings together companies of different sizes to solve critical problems,” said Melanie Tomczak, Chief Technology Officer at BioMADE. “We’re excited about this project, which holds a lot of promise for domestic rubber production and shows how bioindustrial manufacturing can help secure the domestic supply chain.”

While rubber trees typically take seven years to produce the latex needed for rubber production, dandelions can be harvested every six months. TK dandelions are also resilient and can grow in more temperate climates, such as Ohio.

Backed by the DoD, the collaboration of Goodyear, BioMADE and Farmed Materials will accelerate commercialization of TK, beginning in the spring of 2022 with the planting and harvesting of TK seeds in Ohio. The natural rubber produced will be used in the production of military aircraft tires that will be built and tested under rigorous applications by Goodyear in cooperation with the AFRL at Wright-Patterson Air Force Base in Dayton, Ohio.

If additional testing provides promising results, Goodyear sees potential for the application of TK rubber to be used in all tire applications.

About The Goodyear Tire & Rubber Company
Goodyear is one of the world’s largest tire companies. It employs about 72,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

About BioMADE
BioMADE is one of nine Department of Defense-sponsored Manufacturing Innovation Institutes, which anticipate and close gaps in manufacturing capabilities to realize affordable, timely and low-risk defense systems. Through funding, action, and engagement, BioMADE supports the development of biomanufacturing technologies to strengthen American competitiveness; create a more robust, resilient, and bio-based supply chain; and help the U.S. become more self-sufficient. BioMADE is also building a diverse and globally competitive STEM workforce by partnering with K-12 schools, community colleges, universities, and professional development organizations to ensure the workforce is prepared and ready to fill new jobs. To learn more, visit www.biomade.org.

About Farmed Materials
Farmed Materials develops and commercializes agriculturally derived, sustainable, high-performance polymers. Founded in Cincinnati, Ohio in 2016, Farmed Materials brings together proven leadership in agriculture, polymer science, and research. It supports formation, commercialization, growth, and scaling of award-winning advanced materials companies. Our team has successfully completed all phases of agriculture, seed production, rubber extraction and testing from the largest TK acreage cultivated since WWII. Contact Farmed Materials at: info@farmedmaterials.com.

SOURCE The Goodyear Tire & Rubber Company

CONTACT: CONNIE DEIBEL, 330.796.9241, CONNIE_DEIBEL@GOODYEAR.COM

Rockford, IL— Greenlee® / A Textron Company (NYSE: TXT) announced the acquisition from its joint venture partners of the remaining interest in Endura-Greenlee Tools (Shanghai) Co., Ltd., a professional hand tools manufacturer for residential, construction, industrial, and automotive channels.

Greenlee established the Endura-Greenlee Tools joint venture in 2010 to expand Greenlee’s presence in China through application of innovative technologies and leveraging the distribution network. Endura-Greenlee Tools has a strong international sales network and advanced expertise in the Chinese markets. Endura specializes in designing, manufacturing, and marketing high-quality hand tools for global professional trades and industrial and construction markets. Since its inception in 1998, Endura has been considered one of the top professional tool brands in China, with over 3,000 products in more than 30 different categories. Endura also has over 1,000 resellers in China, and exports to ten countries.

Integration of the Chinese operations of Textron’s Klauke tool business and Endura-Greenlee Tools into a single team allows for application of collective resources to broaden customer support and accelerate product engineering. According to Scott Hall, President of Textron’s Industrial Segment, “This strategic acquisition is a unique opportunity to provide greater value to our customers in the Chinese markets with Textron’s extended resources. We are confident that the Endura brand will deliver a more comprehensive solution to our international customers and optimize our growth in an evolving competitive market.” Endura’s diverse product line along with their experienced leadership in the Chinese markets will cohesively work with Textron’s operational expertise to drive future growth and expansion.

Greenlee Textron Inc.
Greenlee Textron Inc. is known as a global leader in the professional tool category. The Rockford, Illinois- based company develops high quality innovative products distinguished by customer-driven design and differentiated by supply chain excellence. It also leverages its powerful brands such as Greenlee Communications and Greenlee Utility in the electrical, construction and maintenance markets worldwide. More information is available at www.greenlee.com.

Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense industry, and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more information visit: www.textron.com.

Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.

CLEVELAND, Aug. 30, 2021 /PRNewswire/ — US sales of industrial supplies at the wholesale level are forecast to rise 3.9% yearly in nominal terms through 2025, according to Industrial Supplies Wholesale: United States, a report recently released by Freedonia Focus Reports. The largest driver of growth will be 3.8% annual gains in manufacturing shipments. This growth, originating in multiple categories of durable and nondurable goods, will support demand for a wide variety of industrial supplies. To a lesser extent, upticks in construction and retail spending will encourage sales of products such as pipe, fasteners, and hardware to construction firms, and packaging to manufacturers, other wholesalers, and retailers. As more manufacturers adopt automation and connected (i.e., Internet-of-Things enabled) machinery, industrial supply wholesalers will sell higher value robotics and automation tools, as well as benefit from manufacturing process automation services. Mature markets for these products, in addition to strong competition from factory direct sales and Amazon’s Amazon Business unit, will restrain faster gains.

Sales of industrial containers and supplies are anticipated to remain the largest segment. Increases in manufacturing output will boost demand for chemicals and other goods that use rigid bulk packaging such as pails, drums, and bulk boxes. Sales of abrasives are expected to be the fastest growing segment, expanding 5.4% per annum to 2025. Rising shipments of transport equipment, machinery, and metal products will propel growth. Value gains will be supported by growing use of superabrasives (such as diamond and cubic boron nitride grinding wheels), driven by rising specialization and increasingly demanding performance requirements in manufacturing applications.

These and other key insights are featured in Industrial Supplies Wholesale: United States. This report forecasts to 2021 and 2025 US sales of industrial supplies in nominal US dollars at the wholesale level. Total sales are segmented by product in terms of:

industrial containers
industrial valves and fittings
mechanical power transmission
strapping and tape
welding supplies
abrasives
mechanical rubber goods
ink and printing
hardware
other supplies such as automotive parts, pipes and tubing, and pumps and compressors
To illustrate historical trends, total sales are provided in annual series from 2010 to 2020.

This report presents total sales of industrial supply wholesalers, including those of products that are not strictly considered industrial supplies. For example, sales of food items and laboratory equipment are considered in-scope, if sold by an industrial supply wholesaler. Conversely, sales of industrial supplies from manufacturers, retailers, or other wholesalers not classified as industrial supply wholesalers are excluded from the scope of this report.

More information about the report is available at:
https://www.freedoniafocusreports.com/Industrial-Supplies-Wholesale-United-States-FF95084/?progid=91541

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:

total historical market size and industry output
segmentation by products and markets
identification of market drivers, constraints, and key indicators
segment-by-segment outlook in five-year forecasts
a survey of the supply base
suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com

SOURCE The Freedonia Group

SHANGHAI, March 30, 2021 /CNW/ — AWE2021 was held in Shanghai from March 23 to 25, 2021. With the pandemic still gripping a good part of the planet, CES in the U.S. and IFA in Germany, two of the world’s three most important annual exhibitions for houseware and electronics, were held online this year. AWE2021 was the only one to be held offline, serving as this year’s key event where home appliance makers and technology leaders showcased their latest technologies, products and brands.

World-leading brands exhibited their latest product lineups and solutions, running the gamut from home appliances, advanced home appliance technologies and a brand-new category referred to simply as “home”.

Haier Smart Home highlights its differentiation with other makers by contrasting scenario-based displays and exhibits of single appliances

On one side of the long aisle where the home appliance makers had set up their booths, century-old household brand names maintained their legacy with exhibits of top-of-the-line refrigerators, washing machines, air conditioners and dishwashers.

Facing them on the other side of same aisle, Haier Smart Home (“Haier”, Shanghai: 600690), on the heels of its transformation into a scenario- and ecology-based brand, took the lead in being the sole maker to answer the call for solutions that fit the new “home” category. Haier showcased smart solutions for the whole home, encompassing not only the living room, bedroom, kitchen and bathroom but also extending out to include the porch and balcony. By combining resources, the solutions cover all manner of in-home experiences: the food, clothing, housing and entertainment scenarios, providing a “new living” experience to home dwellers in line with their expectations.

To take an example, in the smart kitchen scenario, the refrigerator is no longer just a refrigerator, but rather an ecological gourmet Internet of Things (IoT) platform, which connecting oven to prepare Peking Roasted Duck, and automatically replenish supplies when low.

Previously, this group of exhibitors had been collectively referred to as ‘home appliance companies’, but now the classification is no longer so apt.

Haier Smart Home has evolved from a home appliance maker to a provider of scenario solutions and life services.

In the Haier-equipped smart home, high-tech home appliances still exist, yet they have been seamlessly incorporated into the various home scenarios to become an integral part of the home.

The air conditioner is no longer just a device for adjusting the temperature, but rather a refined mechanism that works in tandem with a series of hardware and software components to deliver air solutions. Traditional home appliances cannot fulfill the expectations of today’s home dwellers – only scenario solutions can answer the challenge.

Haier Smart Home has been transformed into a scenario- and ecology-based brand.

Haier Smart Home has brought together and empowered tens of thousands of partners across a wide range of industries spanning houseware and home furnishings, building and construction materials, real estate, food and IoT by providing software, technologies and services, to establish a complete smart home scenario ecology.

Through ecological empowerment, Haier Smart Home provides the occupants of a home with the opportunity to enter the ‘new living’ era. The company offers solutions covering all needs in various living scenarios, whether the shopper is looking to simply spiff up a kitchen, bedroom and bathroom or for a complete renovation.

AWE2021 is not only the first major exhibition since the beginning of the year, but also a watershed event heralding the next stage of growth for the industry, as reflected by the contrasting exhibits on both sides of the aisle. Traditional home appliance companies on one side are presenting new home appliances, while on the other side has reimagined solutions for smart home scenarios based on those home appliances. Haier Smart Home is at the vanguard of a revolution in the concept of what it means to furnish and maintain a home.

March 2017 HARIBO of America Inc. is pleased to announce that the HARIBO Group’s management and supervisory board have taken the decision to acquire a property in Kenosha County, South East of Wisconsin (USA). The world market leader in the fruit gum and liquorice segment is planning to set up its first production site in the USA.

“The decision to build a production site in Wisconsin is of great importance to the HARIBO Group,” said Hans Guido Riegel, Managing Director of the HARIBO Group.

“HARIBO of America is the fastest growing confectionery company in the US – so the step is to start with our own production from 2020 onwards.”

“HARIBO has been looking for the location for the first production facility in the USA for several years. In an elaborate process, we have examined many sites. Today, we are pleased to announce this important decision, “said Rick LaBerge, Executive Vice President and COO of HARIBO of America Inc.

“We are planning to build one of the largest sites in the confectionery industry,” said Wes Saber, Executive Vice President and CFO of HARIBO of America Inc. “The new location provides ideal conditions to expand and expand the successful HARIBO activities in the US To grow. ”

Sven Jacobsen Press Contact HARIBO Corporate Group E-Mail: moc.obirah@nesbocaj.nevs Phone: +49 (0) 228/537 – 606

HARIBO is a family company, now run by the third generation. The founder Hans Riegel had HARIBO GmbH & Co. KG registered on the 13th of December 1920 in the commercial register in Bonn. HARIBO is an acronym for HAns RIegel BOnn. The product “Tanzbär”, created by founder Hans Riegel, is today the cult figure of HARIBO and a world famous gold bear! Today, HARIBO is the world market leader in the fruit gum and liquorice segment. Alone 100 million GOLDBAREN are produced every day worldwide. The continuous brand management with the highest quality control as well as the trust of the consumers make up a large part of the success story at 16 production locations in ten countries. Almost 7,000 employees are now employed worldwide.

SHANGHAI— —By 2025 China’s gas market will be 2.5 times bigger than it is today. When GE (NYSE: GE) was chosen to deliver technology to support this growth, it was made clear only exceptional products would suffice.

GE’s Power Conversion business was selected by China Machinery International Engineering Design & Research Institute (CMIE) to provide the 50 MVA VFD systems for a high power motor test bench for various types of motors in the range of 3-40 MW with highly sophisticated testing configurations and features. The motor test bench has been successfully applied to test 18-megawatt (MW) motors supplied by Shanghai Electric Machinery Co., Ltd (SEMC) for the West-East Gas Pipeline (WEPP) project, one of the largest infrastructure projects in China transporting natural gas fuel from Xinjiang to the Yangtze River Delta.

The motor test bench can be viewed as a “universal” test bench due to the wide power range (3-40 MW) of motors it can test for various types and a diverse range of configurations and operation modes.

“Seeing GE’s test bench demo which is in line with our requirements successfully and smoothly running in operation has given us enormous confidence in GE and confirmed that it can provide a quality solution that is customized, efficient and reliable in the face of tough demands. Indeed, GE’s MV7tst IGCT drive system has demonstrated superb robustness and control functionality to fulfill our most demanding requirements.” said Mr. Yuan Kainan, the project leader from CMIE. “With such nationwide implications riding on the success of this project, we’ve found a partner in GE that has the capabilities to support mission-critical projects.”

The test bench delivered by GE is packed full of technology innovations. Five patents related to the drive system have been filed. The MV7tst IGCT VFD system delivered for the motor test bench contains two high-density 27-MVA VFD line-ups. Each VFD line-up provides 9-level (line-to-line) high power quality output with GE patented modulation and control strategy that takes full advantage of power processing capability of power semiconductors in all operating conditions. The two VFD line-ups can be used for dual machine pump-back test configuration, or can be paralleled to test single high power motor load.

By offering a solution that answers all of CMIE’s strict requirements, GE has helped to test its motors in a more efficient and cost-effective way. The comprehensive report after the test has been completed also helps optimize future motor commissioning and system integration, saving further operational costs.

“We’re pleased that we have been able to demonstrate to the CMIE that we can solve the highest technical challenge in the field and provide world-class system engineering capability with strong system project execution capability.” said Richard Zhang, Global Technology Leader, GE Power Conversion. “By successfully providing one of the world’s most sophisticated motor test benches, which encompasses all the necessary testing scenarios, GE’s Power Conversion business is playing a vital role in enabling the swift and efficient development of the latest phase of the West-East Gas Pipeline project.”

“We are pleased that GE’s Power Conversion business delivered within 10 months. The ultra-quick delivery time for such a sophisticated test bench is a strong testimony of GE’s ability to deliver system solutions and our execution capability.” added by Mr. Yuan from CMIE.

About GE Power Conversion
GE’s Power Conversion business applies the science and systems of power conversion to help drive the electrification of the world’s energy infrastructure by designing and delivering advanced motor, drive and control technologies that evolve today’s industrial processes for a cleaner, more productive future. Serving specialized sectors such as energy, marine, oil and gas, renewables and industry, through customized solutions and advanced technologies, GE Power Conversion partners with customers to maximize efficiency. To learn more, please visit: www.gepowerconversion.com.
Follow GE’s Power Conversion business on Twitter @GE_PowerConvers and on LinkedIn.

About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com.

CINCINNATI–P&G-owned hair care brand Herbal Essences is producing the first-ever mass hair care bottle design in North America that will make it easier for vision impaired consumers to distinguish its shampoo and conditioner products through the sense of touch. The newly enhanced package features tactile indentations that will help differentiate the brand’s shampoos from its conditioners in-shower given they share the same bottle shape, alleviating in-shower confusion and helping consumers confidently perform daily tasks.

Behind the initiative is creator Sumaira “Sam” Latif, P&G’s Special Consultant for Inclusive Design, who has been with the Company for over 18 years and is herself blind. Latif’s unique perspective lit the spark for the idea, which was refined by working with other individuals who are vision impaired. In fact, they represent some of the 253 million people worldwide or 23 million people in the US today who face the challenges associated with vision impairment every day.

“Imagine the daily challenges, like choosing matching clothes in the morning or simply taking a shower after a long day. As a blind person, you must do these things using touch rather than sight. You don’t really know which bottle the shampoo, conditioner, or soap is…you have to get creative. I used to put an elastic band around shampoo or sellotape on conditioner to remind me,” says Latif speaking from personal experience. And as it relates to the bottle design, she says the intention was clear: “It was important that we invent a feature, universally recognizable tactile feature, which would work for people who haven’t had the opportunity to learn braille.”

The production to create the new bottle feature was not a seamless one, according to Latif. “While the solution might sound relatively simple, we process hundreds of bottles a minute, so changing a manufacturing process is complicated when you’re dealing with those kinds of quantities.”

Shane Mays, Herbal Essences Packaging Engineer, and Latif became instant friends working on this project together. “In my 15 years working at P&G, I have never worked on a project with as much personal passion as this one. I am so incredibly proud of what we are doing and the impact we will have. This pride and passion was contagious across the entire manufacturing team who worked together to make this possible on the fast manufacturing lines,” expresses Mays.

Despite the technical solves needed, the Company’s collective passion for the initiative is what pushed it through. Herbal Essences North America Brand Manager, Lynn Hicks, states that not only did she feel it was “the right thing to do,” but explains that there was a solid business case behind this decision. “Making our products more accessible can improve the experience for everyone. We want to be sure everyone can experience the positive power of nature through Herbal Essences every day. While we designed this tactile feature specifically for the visually impaired, others, like seniors or kids, will also benefit from this feature.”

Latif is excited to see how consumers respond saying, “Every time I pick up this new bottle in the shower I smile. Knowing for the first time in my life I can be so sure that its shampoo, that feels great, and I hope others experience this same feeling.”

The shampoo bottles have four tactile vertical lines on the bottom of the back label and the conditioner has two rows of dots on the bottom of the back label. The features were purposely kept very simple and easy to differentiate by touch. The brand hopes that once people learn about the new tactile features, they will easily be able to tell their shampoo and conditioner apart by touch.

Mark Riccobono, President of the National Federation of the Blind, shares, “We are pleased to see an industry leader like P&G and its Herbal Essences brand incorporate accessibility into the design of packaging. This new tactile feature enhances our independence and shows that the brand wants to truly serve all consumers. We hope other manufacturers will take note of this effort and work with blind people to find solutions that allow us to identify their products quickly and independently.”

The new Herbal Essences packaging will be available on Herbal Essences bio:renew shampoo and conditioner bottles beginning January 2019 everywhere that the brand’s hair care products are currently sold.

To learn more about this initiative, please visit HerbalEssences.com or watch our visually descriptive video (link below) and share the news on social media using #HerbalEssences and #WorldSightDay.

About Herbal Essences
Herbal Essences was born into nature with a free spirit and a joyful heart. Our bohemian roots still have the power to inspire young women today with products that merge the best of nature with science. Because there will always be women who aspire to a unique and authentic beauty that can only come from a closeness to nature and a true sense of self. Herbal is not about problems, but the freedom to immerse yourself in the positive power of nature every day. Herbal believes in ingredients with intent, packaging as items of beauty for her & the earth, colors found in nature, irresistibly delicious fragrances, & formulas that are as clean as possible without compromising the results women crave. And Herbal hair? Herbal hair is hair that is healthy, undone, natural looking and free – just like the women who choose it. Simply put, Herbal Essences does beautiful things for your hair & your head. To learn more about Herbal Essences visit www.herbalessences.com, or follow us on Facebook: facebook.com/HerbalEssences, Twitter: twitter.com/HerbalEssences and Instagram: @herbalessences.

About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

TOKYO, March 31, 2021 /PRNewswire/ — Hitachi, Ltd. (TSE: 6501, “Hitachi”) today announced that it will acquire GlobalLogic Inc. (President and CEO: Shashank Samant, “GlobalLogic”), a leading U.S.-headquartered digital engineering services company. The acquisition is based on the definitive agreement among Hitachi Global Digital Holdings Corporation (“HGDH”), a U.S. subsidiary, an SPC established by HGDH for the acquisition and GlobalLogic Worldwide Holdings, Inc., the parent company of GlobalLogic. The transaction is subject to customary conditions and regulatory approvals and expected to be completed by the end of July 2021.

Through the acquisition, Hitachi expects the addition of GlobalLogic’s advanced digital engineering capabilities, and its solid client base including major technology companies, to strengthen the digital portfolio of “Lumada.”*1 Hitachi Vantara LLC, a U.S.-based subsidiary of Hitachi and its digital infrastructure, data management, and digital solutions business, plays a key role in driving Lumada business growth in the global market.

The acquisition will create synergies across Hitachi’s five sectors – IT, Energy, Industry, Mobility and Smart Life – and automotive systems business (Hitachi Astemo) by accelerating the advanced digital transformation of social infrastructure such as rail, energy, and healthcare at a global scale. Through its Social Innovation Business delivered by collaborative creation with customers, Hitachi aims to increase social, environmental, and economic value for its customers and realize a sustainable society.

*1

Lumada is the name of Hitachi’s advanced digital solutions and services for turning data into insights that drive digital transformation of social infrastructure.

Headquartered in Silicon Valley, GlobalLogic is a leading company in the fast-growing digital engineering services market. With over 20,000 professionals in 14 countries, GlobalLogic operates design studios and software product engineering centers around the world.

GlobalLogic has deep “chip-to-cloud” advanced software product engineering technology as well as experience design skills and vertical industry expertise. By combining these capabilities, GlobalLogic helps clients drive new revenue streams and incremental value for their customers by designing and developing innovative software that powers products, platforms, and digital experiences. The company has a solid client base with over 400 clients comprised of market leaders and marquee brands spanning key industries such as communications, financial services, automotive, healthcare & life sciences, technology, media and entertainment, and manufacturing.

Digital transformation (DX) investment is growing at an accelerated pace globally. IDC predicts that 65% of global GDP will be digitalized by 2022 driven by products and services from digitally transformed enterprises. *2

In addition, according to Zinnov (a research & advisory company specializing in Product Engineering and Digital Transformation) the total addressable market for digital engineering will grow to 1.1 trillion U.S. dollars by 2025, growing at a compound annual growth rate (CAGR) of 19%.*3

*2

Source: IDC Press Release, October 29, 2020: IDC Reveals 2021 Worldwide Digital Transformation Predictions; 65% of Global GDP Digitalized by 2022, Driving Over $6.8 Trillion of Direct DX Investments from 2020 to 2023

https://www.idc.com/getdoc.jsp?containerId=prUS46967420

*3

Source: Zinnov Zones for Engineering & R&D Services Research (slide 3)https://zinnov.com/zinnov-zones-engineering-rd-services-2019/

These figures do not include the COVID-19 effect.

Digital transformation continues to be a priority for organizations everywhere, and the COVID-19 pandemic has only expanded demand for new data-driven business models, customer experiences, and connected ecosystems. However, many organizations lack the knowledge and experience to design and deploy new digital platforms. They are also challenged by the shortage of the skills required to build digital-native products, and to design new interaction models and digital experiences, such as new digital ways of shopping or new models for delivering and receiving healthcare. Against this backdrop, the demand for GlobalLogic’s services is growing rapidly, and the combined company has greater access to this massive market opportunity.

Hitachi has been promoting initiatives to transform and provide more advanced and intelligent social infrastructure, such as rail and energy, using its digital technology, in order to achieve a transformation into a global leader in the Social Innovation Business. As part of its 2021 Mid-term Management Plan, Hitachi previously committed to the strategy to make growth investments of 1 trillion yen in the IT sector*4, primarily through Hitachi Vantara, to strengthen digital capabilities including digital products, solutions, partnerships, front and delivery capabilities. GlobalLogic will be an integral part and a growth engine of Hitachi’s portfolio of Lumada digital solutions and services.

*4

Hitachi, Ltd., IT Sector’s presentation material at Hitachi IR Day 2019.

https://www.hitachi.com/New/cnews/month/2019/06/190604/20190604_01_it_presentation_en.pdf

Toshiaki Higashihara, President & CEO of Hitachi, said “The acquisition of GlobalLogic creates an exciting new opportunity for Hitachi to expand our offerings of Lumada solutions and services, provide value to customers in their digital transformation journey, and grow our Lumada business globally. The synergy of GlobalLogic’s leading experience design and innovation with Hitachi’s expertise in IT, operational technology, and products, will help us realize our goal to be the leading digital transformation innovator in social infrastructure worldwide. Together, we will create new social, environmental and economic value for our globally expanding client companies and elevate QoL (quality of life) for people through contributions to realize sustainable society.”

“Companies in every industry are transforming with digital technology – to better engage customers, create new revenue streams and drive a higher quality of life.” said Shashank Samant, President and CEO, GlobalLogic. “We have a tremendous opportunity ahead and we are excited to embark on this journey with Hitachi, combining our collective skills, technologies, and market presence to deliver greater value to our clients as they transform their businesses.”

GlobalLogic’s revenues are expected to reach approx. 1.2 billion U.S. dollars (approx. 129.6 billion yen*5) with adjusted EBITDA*6 margins to be over 20% in fiscal 2021. With a high profitability profile and strong revenue CAGR, GlobalLogic will aim to achieve adjusted EBITDA of over 1 billion U.S. dollars (approx. 108.0 billion yen) by fiscal 2028.

HGDH and GlobalLogic Worldwide Holdings have agreed on an equity value of 8.5 billion U.S. dollars (approx. 918.0 billion yen) with an enterprise value of 9.5 billion U.S. dollars (approx. 1,026.0 billion yen). This represents about 37.4x in CY2021 and 29.4x in CY2022 of expected adjusted EBITDA respectively and are within the calculation range of Hitachi’s comparable company analysis and the discounted cash flow method. The total acquisition cost, including repayment of GlobalLogic’s interest-bearing debt, is expected to be 9.6 billion U.S. dollars (approx. 1,036.8 billion yen).

*5

Converted at the rate of 108 yen to the U.S. dollar.

*6

EBITDA on a standalone basis, adjusted for stock-based compensation and non-recurring one-time costs.

Hitachi will acquire GlobalLogic Worldwide Holdings through a merger involving MergeCo H Global Inc. (“SPC”), a subsidiary established by HGDH for the purpose of the transaction. In this acquisition, the “reverse triangular merger method” will be adopted. Specifically, SPC will be merged with and into GlobalLogic Worldwide Holdings, which will be the surviving company. When the companies are merged, HGDH or SPC will provide cash to the shareholders of GlobalLogic Worldwide Holdings after which all the outstanding shares of GlobalLogic Worldwide Holdings will be cancelled. All the shares of SPC held by HGDH will be converted to common shares of GlobalLogic Worldwide Holdings, the surviving company. In this way, HGDH will acquire 100% of the outstanding shares of GlobalLogic Worldwide Holdings, the surviving company, and GlobalLogic Worldwide Holdings and GlobalLogic will become wholly owned subsidiaries of HGDH.

About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company’s consolidated revenues for fiscal year 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and it employed approximately 301,000 people worldwide. Hitachi drives digital innovation across five sectors – Mobility, Smart Life, Industry, Energy and IT – through Lumada, Hitachi’s advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. Its purpose is to deliver solutions that increase social, environmental and economic value for its customers. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

MEMPHIS, Tenn. , – International Paper (NYSE: IP) today announced plans to invest $135 million to expand fluff pulp production at its Riegelwood N.C. Mill. The investment will convert the mill to 100 percent fluff and softwood pulp production, adding an incremental 400,000 tons of capacity, with ongoing flexibility to shift between the two products. When the conversion is complete, the company will have the capability to produce up to 1.4 million tons annually of high-quality fluff. The new fluff pulp capacity is expected to ramp up mid-year 2016.

“The investment at Riegelwood proactively repositions assets to serve our customers in the growing global fluff pulp market and best positions International Paper to increase shareholder value,” said Mark Sutton, chairman and CEO, International Paper.

Fluff pulp, which is projected to grow globally at an annual rate of 3 to 4 percent, is used in a variety of applications including baby diapers, feminine hygiene and adult incontinence products. “This new capacity will support the growth of IP customers across the globe,” said Mike Amick, senior vice president, North American Papers & Pulp and Consumer Packaging. “Riegelwood is ideally located with access to fiber and proximity to shipping ports critical for supplying a global customer base.” With the current expertise at Riegelwood, combined with world-class pulp operations in Franklin, Va., Georgetown, S.C. and Pensacola, Fl., International Paper is set to build on its proven track record of success in the fluff pulp market.

As a result of the Riegelwood Mill conversion to 100 percent fluff and softwood pulp, the company will reduce its coated paperboard capacity by 350,000 tons, sell the Carolina® brand to MeadWestvaco (MWV), and focus the business on supplying customer demand in the food service and packaging markets. The sale of the Carolina business, which represents the majority of the coated paperboard volume reduction, is expected to close April 30, 2015. Terms of the sale were not disclosed. Carolina is a premier coated bristols brand used in a variety of applications including greeting cards, book covers and marketing collateral. The sale captures the brand’s value, supports International Paper’s plans to expand fluff pulp production at Riegelwood and streamlines and strengthens its coated paperboard business.

“International Paper’s printing papers and coated paperboard businesses remain strategic to the company and these moves capture value while allowing for strategic repositioning and growth,” Amick said. International Paper is well positioned to support current and future coated paperboard customer demand from its two world-class mills in Texarkana, Texas, and Augusta, Ga.

About International Paper
International Paper (NYSE: IP) is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging along with uncoated papers and pulp. Headquartered in Memphis, Tenn., the company employs approximately 58,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2014 were $24 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.

SHANGHAI, Johnson Controls is expanding its manufacturing operations in China by beginning production of advanced lead-acid batteries for Start-Stop vehicles to help automakers meet increasingly strict fuel economy and emission regulations.

“We’re excited to announce the delivery of our first batch of locally-manufactured batteries to power Start-Stop vehicles for local and global automakers in China,” said Kenneth Yeng, vice president and general manager, Johnson Controls Power Solutions China.

The global Start-Stop market for new vehicles could reach 49 million annually by 2020. In China, the company predicts 40 percent of all new vehicles will be Start-Stop in this time frame.

“Start-Stop is the best technology to help automakers meet increasingly strict environmental regulations while saving consumers money, as it requires minimal changes to the vehicle and costs significantly less than hybrid or electric vehicles,” said Lisa Bahash, group vice president and general manager Original Equipment, Johnson Controls Power Solutions.

Regulators in China, Europe, Japan and the United States are putting aggressive fuel economy and carbon emission reduction targets in place for the 2015-2021 time period. Start-Stop has emerged as one of the preferred technologies for meeting these targets by enabling 5 percent fuel economy savings over a conventional vehicle. The technology automatically shuts off the engine when the car is idle and restarts it when the driver’s foot leaves the brake pedal. During this time, the vehicle’s electrical systems – from entertainment to lights – use energy from an advanced lead-acid battery rather than the gas-powered engine, thus saving fuel.

“Johnson Controls is the world’s leading provider of batteries for Start-Stop vehicles and we plan to continue to invest in bringing advanced technologies, technical capabilities and capacity to the country in collaboration with our customers,” added Yeng.

The company recently began making Enhanced Flooded Batteries (EFB) at its facility in Changxing, China for use in Start-Stop vehicles. Johnson Controls also has plans to localize production of Absorbent Glass Mat (AGM) batteries to support demand for fuel-efficient Start-Stop technology as part of the company’s complete portfolio of energy storage products. In addition, the company debuted its 12V Lithium-ion battery for Advanced Start-Stop vehicles at the 16th Shanghai International Automobile Industry Exhibition going on this week. The 12V Lithium-ion battery can increase fuel economy efficiency by up to 8 percent.

China represents the major growth market for Johnson Controls. The company’s commitment to growing its business in China is evidenced by its building of a second global headquarters in Shanghai, which will open in 2017.

For more information, please visit our website. Images are available in our online media center.

About Johnson Controls

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. The company’s 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Johnson Controls’ commitment to sustainability dates back to its roots in 1885, with the invention of the first electric room thermostat. Through its growth strategies and by increasing market share, Johnson Controls is committed to delivering value to shareholders and making its customers successful. In 2014, Corporate Responsibility Magazine recognized Johnson Controls as the #12 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com or follow @johnsoncontrols on Twitter.

About Power Solutions

Johnson Controls Power Solutions is the world’s largest manufacturer of automotive batteries, supplying approximately 140 million every year to automakers and aftermarket retailers. The company’s full range of lead acid and Lithium-ion battery technology powers nearly every type of vehicle for our customers- including conventional, Start-Stop, Advanced Start-Stop, Micro Hybrid, hybrid and electric. Johnson Controls’ recycling system has helped make automotive batteries the most recycled consumer product in the world. Globally, 15,000 employees develop, manufacture, distribute and recycle batteries at more than 50 locations. For more information, please visit http://www.JohnsonControls.com/PowerSolutions or follow @JCI_BatteryBeat on Twitter.

FRANKFURT, Germany, – By 2020, it will be difficult to buy a new vehicle that runs while idling. Start-Stop technology continues to gain in popularity as tightening government fuel economy and carbon emission reduction targets put additional challenges on car makers from around the world. In anticipation of increasing demand, Johnson Controls, the world’s largest automotive battery manufacturer, is adding Absorbent Glass Mat (AGM) battery production capacity. AGM is the technology at the heart of a Start-Stop system, which delivers consumers 5 percent fuel savings every time they fill up their gas tank.

With $555 million in investments between 2011 and 2020, the company is implementing plans to expand AGM production capacity in Germany, the United States and China. “Johnson Controls is currently the world’s leading provider of batteries for Start-Stop vehicles and we plan to stay that way,” says Lisa Bahash, group vice president and general manager Original Equipment, Johnson Controls Power Solutions. “To ensure we will continue to meet rising demand of car manufacturers and aftermarket retailers for this technology, we consider it a business priority to invest in increasing our production worldwide.”

The market for new vehicle and aftermarket Start-Stop batteries could rise to 56 million worldwide by 2020, compared to 22 million today. In this time frame, 85 percent of all new vehicles in Europe and 40 percent in the U.S. and China are expected to be powered with Start-Stop batteries. “We are expecting strong growth for Start-Stop technology, and with good reason. It requires minimal changes to the vehicle and costs significantly less than battery systems in hybrid or electric vehicles,” says Bahash. “Start-Stop is the best solution to help automakers meet upcoming environmental regulations.”

In Europe, Johnson Controls has invested more than $112 million in its facility in Hannover, Germany to increase production of fuel-efficient AGM batteries by 65 percent since 2011. Two years ago, the company also expanded its Zwickau plant with an investment of more than $112 million, making it the world’s largest production site for AGM batteries. In August, Johnson Controls announced additional capacity at its U.S. plant in Toledo, Ohio, bringing the overall investment to $130 million since the start of AGM production at this site in 2012. Johnson Controls is also planning to build a new automotive battery manufacturing facility in Shenyang, China. The $200 million state-of-the-art plant will have the capacity to produce 6 million automotive batteries a year, including both SLI and AGM. “Not only will we be making more Start-Stop batteries, this is also a signal to our customers that wherever they are in the world, they can expect the same high-quality, high-performing Johnson Controls products,” says Bahash.

Start-Stop technology automatically shuts off the engine when the car is idle and restarts it when the driver’s foot leaves the brake pedal. During this time, the vehicle’s electrical systems – from entertainment to lights – use energy from an advanced lead-acid battery (AGM) rather than the gas-powered engine, thus saving fuel.

The company will showcase its AGM batteries, along with its latest technological advancement, a 12V Lithium-ion battery for Advanced Start-Stop vehicles, at the International Motor Show (IAA) in Frankfurt, Germany. The show runs from September 17 to 27. With the addition of a 12V Lithium-ion battery, automakers can increase fuel economy efficiency by up to 8 percent.

About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and seating components and systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2015, Corporate Responsibility Magazine recognized Johnson Controls as the #14 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter.

About Johnson Controls Power Solutions
Johnson Controls Power Solutions is the world’s largest manufacturer of automotive batteries, supplying approximately 140 million every year to automakers and aftermarket retailers. The company’s full range of lead acid and Lithium-ion battery technology powers nearly every type of vehicle for our customers- including conventional, Start-Stop, Micro Hybrid, hybrid and electric. Johnson Controls’ recycling system has helped make automotive batteries the most recycled consumer product in the world. Globally, 15,000 employees develop, manufacture, distribute and recycle batteries at more than 50 locations. For more information, please visit http://www.JohnsonControls.com/PowerSolutions or follow @JCI_BatteryBeat on Twitter.

SHANGHAI — Johnson Controls, the global leader in automotive battery manufacturer, is expanding its production capacity of Absorbent Glass Mat (AGM) batteries for start-stop vehicles in China to support the rising market demand.

Johnson Controls recently launched new production lines for AGM batteries in its Changxing Plant, Zhejiang province facility. The plant’s current AGM battery capacity has been increased to over 3 million units a year, more than double the prior year capacity. The total annual capacity of the plant now reaches approximately 10 million batteries, making it Johnson Controls’ largest battery manufacturing facility in China. The AGM capacity expansion project is ongoing and expected to be completed in 2017. Over the next five years, Johnson Controls is investing $780 million to grow global production capacity for start-stop vehicle batteries.

“We see growing market demand for AGM batteries, as start-stop vehicles are getting more and more popular in China and around the world.” said Kenneth Yeng, vice president and general manager, Johnson Controls Power Solutions China. “By 2020, around 50 percent, or 15 million new vehicles annually will be equipped with start-stop functionality. We are adding the capacity to meet the market momentum while following our global manufacturing standards to ensure outstanding performance and quality.”

The company predicts that between 2016 and 2020, the global market will surge from 25 million to 65 million vehicles in North America, Europe and China. In China alone, start-stop penetration for new vehicle production is expected to be around 50 percent, driven by increasing fuel economy and greenhouse gas emission targets set by the government. Start-stop technology provides up to 5 percent fuel savings every time drivers fill up their gas tank. It is easy for automakers to apply to traditional internal combustion engines, and easy to use — no change in driving habits required. As the ideal energy storage solution for start-stop systems, Johnson Controls AGM batteries are engineered for superior starting power and improved performance, to achieve the fuel economy benefits, support more complicated power needs as well as to ensure a smooth driving experience of start-stop vehicles.

About Johnson Controls
Johnson Controls is a global diversified technology and multi industrial leader serving a wide range of customers in more than 150 countries. Our 117,000 employees create intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. We are committed to helping our customers win and creating greater value for all of our stakeholders through strategic focus on our buildings and energy growth platforms. For additional information, please visit http://www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter.

About Johnson Controls Power Solutions
Johnson Controls Power Solutions is the world’s largest manufacturer of automotive batteries, supplying approximately 146 million every year to automakers and aftermarket retailers. Our full range of lead-acid and lithium-ion battery technology powers nearly every type of vehicle for our customers- including traditional, start-stop, micro-hybrid, hybrid and electric. Johnson Controls’ recycling system has helped make automotive batteries the most recycled consumer product in the world. Globally, 15,000 employees develop, manufacture, distribute and recycle batteries at more than 50 locations. For more information, please visit http://www.JohnsonControls.com/PowerSolutions or follow @JCI_BatteryBeat on Twitter.

SHANGHAI, – Johnson Controls plans to build a new automotive battery manufacturing facility in the city of Shenyang in northeastern China as it continues to invest in the world’s largest new vehicle market.

Johnson Controls has signed an investment agreement for a $200 million state-of-the-art plant that is located in the Tiexi District of Shenyang, the capital city of Liaoning Province. It will have capacity to produce 6 million automotive batteries a year with the industry’s leading sustainability and environmental standards.

“We have a long-term commitment to China, and the new plant will play a strategic role in our plans to meet the increasing expectations of quality products and services from customers and consumers in the country, which is one of our most important markets in the world,” said Joe Walicki, president of Johnson Controls Power Solutions.

Johnson Controls and leaders from the local Shenyang government came together to sign the agreement.

“We welcome the decision of Johnson Controls to establish its new plant in Shenyang, and we believe the company can bring its world-class manufacturing and sustainability experiences and its advanced technologies to the city for local economic development,” said Pan Liguo, mayor of Shenyang City.

Construction of the new plant is expected to begin early next year with production starting in 2018. Batteries for Start-Stop vehicles, which can help automakers meet increasingly strict fuel economy and emission regulations, will be a primary focus of the new facility.

“We want to thank the local government for its support, and will work closely with our external stakeholders including local customers, consumers and communities to build a sustainable business,” said Kenneth Yeng, vice president and general manager, Johnson Controls Power Solutions China.

Located in the core area of the Circum-Bohai-Sea Region, Shenyang has been an important industrial base for China since the 1930s. It has developed a solid and diversified industrial foundation with a convenient transportation network and a trained workforce.

Johnson Controls entered the Chinese automotive battery supply market in 2005 and has set up two battery manufacturing plants in Chongqing in western China and in Zhejiang Province in eastern China. It also has a research and development center for automotive batteries in Shanghai.

About Johnson Controls:
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and seating components and systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2015, Corporate Responsibility Magazine recognized Johnson Controls as the #14 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter.

About Power Solutions:
Johnson Controls Power Solutions is the world’s largest manufacturer of automotive batteries, supplying approximately 140 million every year to automakers and aftermarket retailers. The company’s full range of lead-acid and Lithium-ion battery technology powers nearly every type of vehicle for our customers- including conventional, Start-Stop, Advanced Start-Stop, Micro Hybrid, hybrid and electric. Johnson Controls’ recycling system has helped make automotive batteries the most recycled consumer product in the world. Globally, 15,000 employees develop, manufacture, distribute and recycle batteries at more than 50 locations. For more information, please visit http://www.JohnsonControls.com/PowerSolutions or follow @JCI_BatteryBeat on Twitter.

WASHINGTON, D.C. – U.S. Consumer Product Safety Commission (CPSC) Acting Chairman Ann Marie Buerkle announced that Joseph J. Martyak has returned to CPSC to serve as Director of the Office of Communications. He reports directly to CPSC’s Acting Chairman.

Mr. Martyak has extensive communications experience in several government, private sector, and non-profit positions, including: Vice President of Communications for the Hawaii Community Foundation; Chief of Staff for former CPSC Commissioner Nancy Nord and Chief Counsel for Commissioner Ann Marie Buerkle at CPSC; Associate Administrator for Public Affairs at the U.S. Environmental Protection Agency; Deputy Undersecretary at the U.S. Department of the Interior; General Manager, Golin Harris International (Washington); Executive Vice president for Marketing, Communications and Public Policy for the American Legacy Foundation; and Vice-President for Corporate Affairs for two global corporations.
The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of injury or death associated with the use of thousands of types of consumer products under the agency’s jurisdiction. Deaths, injuries, and property damage from consumer product incidents cost the nation more than $1 trillion annually. CPSC is committed to protecting consumers and families from products that pose a fire, electrical, chemical or mechanical hazard. CPSC’s work to help ensure the safety of consumer products – such as toys, cribs, power tools, cigarette lighters and household chemicals -– contributed to a decline in the rate of deaths and injuries associated with consumer products over the past 40 years.

Washington, D.C.– Today, Walmart U.S. President and CEO Bill Simon joined 280 of the nation’s mayors in Washington, D.C., at the U.S. Conference of Mayors Meeting to announce a new fund for innovation in American manufacturing and a new supplier commitment to bring production of bikes and jobs to South Carolina.

The $10 million fund for innovation:
Walmart and the Walmart Foundation will fund the five-year program and work in collaboration with the U.S. Conference of Mayors to launch it in March. The fund will provide grants to innovators in the manufacturing sector and seeks to create new processes, ideas, and jobs that support America’s growing manufacturing footprint.

“If we want to grow manufacturing and help rebuild America’s middle class, we need the brightest minds in our universities, in our think tanks, and in our towns to tackle obstacles to U.S. manufacturing,” said Simon. “The $10 million fund will identify and award leaders in manufacturing innovation and help us all work together to create opportunity.”

Last year Walmart announced that it will buy an additional $50 billion in American products. That’s $50 billion more than it does today 10 years from now. Walmart estimates that its $50 billion pledge, in the 10th year, will result in Walmart buying an additional $250 billion cumulatively over the next 10 years. This pledge is in an effort to grow U.S. manufacturing and encourage the creation of U.S. jobs.

The Boston Consulting Group predicts that this $250 billion investment will create one million jobs, when you include the jobs in manufacturing and related services.

Kent Bicycles:
Kent Bicycles announced it is moving production from overseas to Clarendon, S.C. According to Kent, when at full capacity in 2016, they will have added at least 175 jobs and will be assembling 500,000 bikes annually. The company, based in Parsippany, N.J., expects to start production in the fall of 2014.

“We look forward to bringing production to South Carolina,” said Arnold Kamler, owner of Kent Bicycles. “Our company moved all manufacturing overseas in 1990 because it was so much more cost effective. When Walmart made its commitment to U.S. manufacturing last year, it opened our eyes to restarting some manufacturing here. We attended Walmart’s August manufacturing summit and were able to focus our efforts quickly and make things happen with South Carolina.”

“Those that have already taken the risk to move or expand manufacturing in the U.S. tell us they are experiencing a first-mover advantage—a significant leg-up in terms of market-share and momentum,” added Simon. “Kent Bicycles is taking the opportunity to become one of those first-movers with its facility in South Carolina.”

“It’s exciting to see a leading manufacturer, like Kent Bicycles, choose South Carolina to manufacture bicycles, a mainstay of an American childhood. We celebrate the company’s decision to create at least 175 new jobs and produce a half a million bicycles annually in Clarendon County, and we are pleased that Walmart’s commitment to domestic manufacturing is accelerating real progress on the issue,” said South Carolina Gov. Nikki Haley.

Walmart also announced that it will host its second U.S. manufacturing summit in Denver, Colo., in August 2014. One focus of this year’s summit will be connecting manufacturers in need of component parts to factories with excess capacity.

“Many factories aren’t operating at full capacity. By working together, we have an opportunity to repurpose or help add production to some of these communities,” said Simon. “This will help rebuild the American supply chain to support U.S. manufacturing and create more jobs.”

Walmart’s first summit in August 2013 brought together more than 1,500 attendees, including 500 suppliers, 34 states and government officials to discuss opportunities to create jobs, restore communities and drive economic growth.

This Press Release is courtesy www.walmart.com

BRISTOL, UK, – DuPont Microcircuit Materials (DuPont) will present initial research findings about new screen printable nano-silver conductor ink developments for grids and bus lines in Organic Light Emitting Diode (OLED) lighting and other printed electronics applications at the ID Tech-Ex Printed Electronics Europe Conference in Berlin, Germany, from April 1-2. DuPont anticipates that, once commercialized, the new conductor materials will help enable a simpler OLED manufacturing process and provide less expensive alternatives to materials currently used, consistent with the business’ aim to expand its suite of advanced materials for printed electronics.

“We believe that advanced technology like our promising new nano-silver conductor ink developments will help enable progress in high value, rapidly growing technologies like OLED lighting,” said Kerry Adams, European marketing manager, DuPont Microcircuit Materials. “We are very excited to share our research findings and gather important feedback from industry leaders as we continue our development efforts toward commercial products.”

DuPont anticipates that new nano-silver conductor ink materials, will be commercially available next year and that these materials will be able to provide a combination of extremely high conductivity and excellent adhesion even after substrate cleaning steps. In addition it is expected that these new inks would help enable the combination of low print thickness and smooth sintered surface necessary for OLED and optoelectronic applications where deposition of subsequent layers is required. The anticipated products are currently intended for use on glass and higher performance flexible polymer substrates such as DuPont™ Kapton® polyimide films and polyethylene naphthalate (PEN). However, it is expected that second generation versions in development would be suitable for flexible OLED lighting panels constructed on lower cost substrates such as polyethylene terephthalate (PET).

Research findings will be presented by Dave Hui, product development scientist, DuPont Microcircuit Materials, on April 2 as part of the conference session titled, “Nano-Ag Conductors for OLEDs and other Printed Electronics Applications.”

DuPont also will exhibit at stand C02 its broad and growing array of materials for printed electronics applications including its recently expanded suite of low silver, conductive inks specifically tailored for membrane touch switch (MTS), radio-frequency identification (RFID), and wearable electronic applications. Designed to balance conductivity needs with cost concerns, the DuPont PE8XX materials leverage proprietary DuPont technology in order to deliver higher conductivity from precious metals.

DuPont Microcircuit Materials (MCM) has over 40 years of experience in the development, manufacture, sale and support of specialized thick film compositions for a variety of electronic applications in the automotive, display, photovoltaic, biomedical, industrial, military and telecommunications markets. For more information on DuPont Microcircuit Materials, visit http://mcm.dupont.com.

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.

ATLANTA – The Coca-Cola Company today announced that it has signed letters of intent to refranchise bottling operations that serve a large area of the United States.

The transactions include territories in Texas and parts of Oklahoma, New Mexico and Arkansas, which is an area currently known as the Southwest operating unit of Coca-Cola Refreshments (CCR).

Under letters of intent announced today, The Coca-Cola Company will contribute the Southwest operating unit, including distribution and production operations, in exchange for a 20% equity stake in a new, privately held entity. This entity, AC Beverages, will also include all of Arca Continental’s existing beverage businesses in Latin America. Arca Continental, which is based in Monterrey, Mexico, will continue to be publicly traded on the Mexican Stock Exchange.

Coca-Cola Bottling Company UNITED, based in Birmingham, Ala., will become a joint-venture partner in the U.S. operations of AC Beverages. Arca Continental will have the majority stake in this U.S. joint venture, where both companies will work hand-in-hand with local teams in a solid partnership to benefit the important markets in which they participate.

UNITED will acquire from The Coca-Cola Company the majority of its remaining territory in Oklahoma. UNITED will contribute that territory, along with cash, to its U.S. joint venture with AC Beverages. UNITED will continue to independently operate all of its other territories, which are outside of its joint venture with AC Beverages.

Separately, Ozarks Coca-Cola Bottling Company of Springfield, Mo., has signed a letter of intent to acquire territories owned by The Coca-Cola Company in northwest Arkansas and small areas in Kansas and Oklahoma.

The letters of intent announced today mark another key milestone as The Coca-Cola Company continues to refranchise Company-owned North American bottling territories. This work is expected to be completed by the end of 2017.

“These are important agreements that will bring a valued, new partner into the U.S. Coca-Cola system,” said J. Alexander “Sandy” Douglas Jr., President, Coca-Cola North America. “Arca Continental is a strong Coca-Cola bottler that has done a great job developing and sharing best practices in its long-standing history. Arca Continental will be a tremendous partner with UNITED in serving a major region of the United States, and the companies will benefit from having contiguous borders for their territories. The Coca-Cola Company is also pleased to gain an additional equity stake in an international bottler that is vital to our long-term success.”

Currently, Arca Continental is the second-largest Coca-Cola bottler in Latin America and the third-largest independent bottler in the world in terms of unit case volume.

“These initial agreements with The Coca-Cola Company and Coca-Cola Bottling Company UNITED, recognized by its outstanding performance in the U.S. market, strengthen Arca Continental’s commitment to create value in the sustainable and profitable way that has distinguished us throughout our history,” said Manuel L. Barragan Morales, Chairman of the Board of Arca Continental. “Led by proven leadership from across our organizations, together we will be well-positioned to further enhance service to the customers and consumers in a region of great importance for the Coca-Cola system, while driving profitable growth in multiple beverage categories.”

“UNITED is very excited to join with Arca Continental – a partner for whom we have great respect – in this new joint venture that combines our experience, global best practices and locally-focused operating strategy with CCR’s very capable and committed local operating teams,” said Claude Nielsen, Chairman of Coca-Cola Bottling Company UNITED. “These franchises in Texas, Oklahoma, New Mexico and Arkansas bring very dynamic markets with strong potential for growth.”

The AC Beverages/UNITED joint venture will be based in the United States. It will become a member of the National Product Supply Group (NPSG). The NPSG, as previously announced, will administer key activities for member bottlers, including production of cold-fill beverages. The NPSG is governed by a board comprised of representatives from its current members, which are Coca-Cola North America,

Coca-Cola Refreshments, Coca-Cola Bottling Co. Consolidated, Coca-Cola Bottling Company UNITED and Swire Coca-Cola, USA.

The AC Beverages/UNITED joint venture will own 11 cold-fill production facilities. Nine are in Texas. Those facilities are located in El Paso, Dallas, Fort Worth, San Antonio, McAllen, Abilene and Nacogdoches, plus two in Houston. The other two facilities are in Oklahoma City and Okmulgee, Okla.

21st Century Beverage Partnership Model History

In North America, The Coca-Cola Company began working with its bottling partners a decade ago on plans to develop a model that evolves the system to serve the changing customer and consumer landscape, with a focus on creating stronger system alignment. A critical step was the Company’s acquisition of the North American territories of Coca-Cola Enterprises in 2010.

Since that deal closed, The Coca-Cola Company has accelerated the implementation of the new model by strategically addressing the bottling system, customer service, product supply and a common information technology platform.

Ultimately, the Coca-Cola system in North America will be comprised of economically aligned bottling partners that have the capability to serve major customers, coupled with the ability to maintain strong, local ties across diverse markets in the United States and Canada.

So far, the Company has reached definitive agreements or signed letters of intent to refranchise territories that account for approximately 60% of bottler-delivered distribution volume and 41 of the 51 cold-fill production facilities in the United States. The Company expects to complete its North American refranchising initiative by the end of 2017.

The new transactions announced today are subject to The Coca-Cola Company and the companies involved reaching definitive agreements. The proposed transactions between The Coca-Cola Company and Arca Continental, as well as the joint venture between Arca Continental and Coca-Cola Bottling Company UNITED, are subject to approval of AC’s shareholders, the obtaining of regulatory approvals and other customary conditions. The parties are committed to working together to implement a smooth transition with minimal disruption for customers, consumers and system associates. Financial terms are not being disclosed. The transactions are expected to close in the first half of 2017.

About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands and more than 3,800 beverage choices. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, our company’s portfolio features 20 billion-dollar brands, 18 of which are available in reduced-, low- or no-calorie options. Our billion-dollar brands include Diet Coke, Coca-Cola Zero, Fanta, Sprite, Dasani, vitaminwater, Powerade, Minute Maid, Simply, Del Valle, Georgia and Gold Peak. Through the world’s largest beverage distribution system, we are the No. 1 provider of both sparkling and still beverages. More than 1.9 billion servings of our beverages are enjoyed by consumers in more than 200 countries each day. With an enduring commitment to building sustainable communities, our company is focused on initiatives that reduce our environmental footprint, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world’s top 10 private employers with more than 700,000 system associates. For more information, visit

Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.

Washington, D.C. – Following the Securities and Exchange Commission’s decision to finalize its costly and unnecessary stock buybacks rule, National Association of Manufacturers Managing Vice President of Tax and Domestic Economic Policy Chris Netram released the following statement:

“The NAM is disappointed that the SEC has chosen to unjustifiably punish manufacturers for returning capital to their shareholders. Manufacturers, investors, retirement plans and the entire economy benefit when companies can efficiently allocate capital via share repurchases. The NAM was successful in convincing the SEC to abandon the most damaging aspect of its initial proposal, but the commission’s attempt to discourage these commonplace, commonsense transactions via an overly complicated, expensive and unworkable disclosure mandate is nevertheless a departure from its mission to enhance capital formation and protect investors.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.81 trillion to the U.S. economy annually and accounts for 55% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

The recent drive to improve conditions for the export of US manufactured products is having a significant impact on the level of US exports. Statistics from the the US Department of Customs has indicated that in the last year alone, exports have jumped to over 250 percent in volume.

As someone who works to support manufacturing in the United States, I’m constantly amazed by the remarkable number of opportunities manufacturing offers to job-seekers, communities and the nation. I also find it remarkable how manufacturing seems to be such a well-kept secret; the general public has some pretty big misconceptions about what it means to work in manufacturing.

This is where Manufacturing Day (MFG Day) comes in. For the past four years, a community of advocates including manufacturing executives, front-line workers, federal and state supporters and countless others, has been coordinating and promoting public events focused on manufacturing. Their goal: to make sure the secret gets out—that manufacturing offers many rewarding, middle class jobs in a diverse array of specialties.

Manufacturing jobs include research and development, engineering, management, front line production and more. These jobs are secure and pay higher than average salaries. And yet, many manufacturers are facing a shortage of employees to take over as older workers retire. What that means, according to a study by Deloitte and the Manufacturing Institute, is that by 2025 there will be 2 million unfilled jobs in the U.S.

If you’re a student, parent, educator or job-seeker, a MFG Day event can show you the many opportunities these openings represent.

Participate
Last year, MFG Day included more than 1,600 open houses, tours and other events in every state in the union. And we’re on track to surpass 2,000 this year.

As a parent, I often look for ways to spark interest in my children, inspire their future, and point them on a solid path for success. I’m looking forward to taking them to Camden Yards on MFG Day-eve to not only enjoy their favorite pastime (baseball), but also to see firsthand what gets made in their home state at a Made in Maryland expo during a Major League Baseball game.

The Maryland MEP center teamed with RMI (Regional Manufacturing Institute of Maryland) to host the event, which will include a pre-party for participating manufacturers, their employees and families. The national anthem will even be performed by a musician playing a Maryland-made guitar. And if you watch the game, you’ll see about 1,000 people seated in the Maryland Manufacturing Day section wearing MFG Day t-shirts.

Also in Baltimore, the Northrop Grumman Corporation will host an event that lets kids help kids, and get a chance to learn about advanced manufacturing. Students will assemble 3D-printed hands (created by the company’s engineers) that will be distributed to children who need them. This awesome activity is also occurring in Northrop’s Charlottesville, Va., location as a result of its partnership with Enabling the Future.

Across the country, events like this aim to help people understand modern manufacturing. Metropolitan Detroit will be the site of one of the largest celebrations. With the assistance of the Michigan Economic Development Corporation, more than 2,500 high school students will get a chance to see manufacturing in action and meet people who make things on October 2. Students will also learn more about the variety of educational pathways that lead to rewarding careers in the industry.

In one Michigan county alone, nearly 60 manufacturers of all sizes and representing many industry sectors will offer tours. To make the most of the events, earlier in the year manufacturers hosted high school principals to educate them on employment opportunities and the types of skills they’re looking for in the workforce. The county will offer a follow-up “Careers in MFG Expo” in December in collaboration with Macomb Community College. One of the companies involved decided to also form an academy to inspire students to consider careers in the industry.

MFG Day All Month Long

Like a few other states around the country, the manufacturing sector is celebrated with a full month of events and programs in Connecticut (as part of the state’s Connecticut. Dream It. Do It. program).

This is an exciting time for Connecticut, which just became one of only two dozen regions designated by the U.S. Department of Commerce as members of the Investing in Manufacturing Community Partnership (IMCP) initiative. The program will leverage economic development funding for workforce, supply chain and innovation, and will give Connecticut aerospace and shipbuilding companies a competitive advantage for federal funding.

Among the CONNSTEP (the MEP center in Connecticut) clients and manufacturing partners holding open house events on MFG Day are Associated Spring – Barnes Group, Bauer, Dymotek (at its Ellington location), Marion Manufacturing, Pegasus, Sikorsky and Birken. The month-long observation will also feature an array of events and discussions, including:
•Manufacturing Mania! for 200 middle school students in Bristol
•Making it Real: Girls & Manufacturing Summit in Groton, where female manufacturing leaders will hold roundtable sessions with more than 150 middle school and high school girls from Connecticut and Rhode Island
•Student Day at Pratt & Whitney in East Hartford, a division of United Technologies Corporation

Economic Benefits
With all of the benefits a career in manufacturing offers individuals, it’s not surprising that manufacturing also benefits our nation. For every $1 in goods produced, the manufacturing industry returns $1.37 to the economy. That adds up to $2.09 trillion dollars, which is large enough for U.S. manufacturing to be the 8th largest economy in the world! And behind all of this incredible output and production are 12 million American men and women who make the things that enable our everyday lives.

You can find an event near you on our MFG Day events page or follow #MFGDay15 on Twitter to see what’s happening in your area. Don’t miss this opportunity to learn about the exciting careers manufacturing has to offer.

Department of Commerce Blog Post by Zara Brunner, National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership

MILWAUKEE, – UI LABS and ManpowerGroup (NYSE: MAN) today released a groundbreaking workforce analysis that identifies 165 data-centric jobs that will define the future of manufacturing in the United States.

Descriptions for jobs such as collaborative robotics specialist, manufacturing cybersecurity strategist and enterprise digital ethicist give a window into the advanced skills and knowledge needed to put new technology into practice and remain globally competitive.

The Digital Workforce Succession in Manufacturing report is the first to offer such a comprehensive workforce playbook to help companies develop a talent pipeline for existing and future factories. The research includes in-depth profiles for 20 roles that span a range of “digital” technologies and business practices, such as virtual reality/augmented reality systems specialist.

The report also describes the type and level of educational degree associated with each position, ranging from an AAS in Robotics Technology to a Ph.D. in Mathematics or Engineering.

“The new roles we have identified will help prepare American workers for the technological shift that is underway, providing attractive, well-paying jobs for the next generation of manufacturers,” said Caralynn Nowinski Collens, CEO of UI LABS. “A smart factory is going to be very dependent on this new workforce.”

“Digitization is transforming the job market, creating a need for people with more advanced skills in manufacturing, and our work with UI LABS is evidence of this,” said Jonas Prising, Chairman and CEO of ManpowerGroup. “By mapping the digital roles and skills of the future, our research will help companies and schools upskill today’s manufacturing workforce for the connected, smart machine and augmented-technology jobs of an increasingly digital enterprise. This will help bridge the skills gap and highlights the advanced and attractive jobs emerging on the forefront of the manufacturing sector.”

UI LABS’ Digital Manufacturing and Design Innovation Institute and ManpowerGroup’s Right Management and Experis brands conducted the research, which was supported by more than 30 industry, academic and government partners. DMDII financed the research using funds from the U.S. Department of Defense, with ManpowerGroup’s experts leading the detailed skills analysis.

The project is part of DMDII’s mission to promote the adoption of new technology across U.S. manufacturing. It also aligns with ManpowerGroup’s broader MyPath™ strategy aimed at closing the skills gap by identifying the roles of the future, building the talent and skills that clients need, and providing people with the guidance and access to jobs that enhance their employability for the long-term.

“The workforce analysis conducted by DMDII and ManpowerGroup offers insight into exciting new roles and skills needed to advance American manufacturing,” said Gail Norris, Director of Customer Technical Learning Services at Siemens. “The report envisions a future in which digital technologies like artificial intelligence and augmented reality are commonplace in factories across the United States.”

Read the full report, The Digital Workforce Succession in Manufacturing, and view the 20 detailed profiles of advanced digital manufacturing roles at www.uilabs.org/taxonomy.

About UI LABS and DMDIIUI LABS is an innovation accelerator that leverages its network of hundreds of partners from universities + industry to address problems too big for any one organization to solve. Our mission is to transform industries, starting with manufacturing and infrastructure, using digital technology. We drive value for our partners and help make the U.S. economy and workforce the most productive in the world.

In February 2014, UI LABS announced the formation of its first innovation platform, the Digital Manufacturing and Design Innovation Institute (DMDII), in partnership with the U.S. Department of Defense, to transform American manufacturing through the digitization of the supply chain. DMDII’s goal is to provide U.S. factories with the tools, software and expertise they need to build things more efficiently, less expensively, and more quickly, so they can win more business and bring jobs back to the United States. Learn more at uilabs.org.

About ManpowerGroup ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for over 400,000 clients and connect 3+ million people to meaningful, sustainable work across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for nearly 70 years. In 2017, ManpowerGroup was named one of the World’s Most Ethical Companies for the seventh consecutive year and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com.

CINCINNATI–Whether you are moving into a new home, adopting your first pet or figuring out how to create a monthly budget, adulthood is full of milestones big and small. A huge part of becoming an adult is learning how to clean up after yourself – and others – and maybe realizing you actually get excited about having a clean home! To show how nothing cleans a busy – and messy – life like Swiffer, the brand today released two new comedic videos showcasing how to master the Art of Adulting starring actress and comedian Abby Elliott.

“Adulting can be hard! Between my busy filming schedule and taking care of my fur child George, I don’t have much time for cleaning,” said Abby Elliott. “Swiffer is my go-to tool that lets me quickly clean my home and have a great time doing it!”

The new videos showcase common adulting moments most people go through in their own lives – like learning how to upgrade dinner from cold pizza to a meal-planned homemade casserole – while accepting that adulting takes baby steps – or, adult steps – to figure out. Adulting is hard, but Swiffer makes it easy, even if all the time you have is the few minutes you need to let that casserole cool down!

“Since Swiffer debuted 18 years ago, our products have been helping time-crunched families get their homes clean in the time that they have – even if it’s just a few spare minutes,” said Kevin Wenzel, Associate Brand Director, NA Surface Care. “As the original cleaning hack, Swiffer is the fast and easy way to tackle your to-do list and nail the Art of Adulting!”

To celebrate the new videos, Swiffer is also releasing additional digital content including brand new adulting gifs (giphy.com/swifferofficial) and custom iMessage stickers available for free for Apple and Android users. Apple users can download the iMessage stickers via the iTunes Store or emojiTap. Android users can download the Android stickers on emojiTap via the Google Store.

Check out Swiffer’s new videos on their YouTube page at https://youtu.be/GTQ1R2TuS2Y and https://youtu.be/8uGNakIHn1o, and comment with your own adulting moments with the hashtag #AdultingWithSwiffer.

For more information on the Swiffer family of products, please visit swiffer.com, facebook.com/swiffer or youtube.com/swifferusa.

About Swiffer®
In 1999, Swiffer made its debut and soon established itself as both a pioneer in the cleaning systems category and a pop culture icon. Swiffer products have starred on “Saturday Night Live,” have been featured in Hollywood blockbusters and have graced the cover of Rolling Stone. With the support of Swiffer fans around the world, Swiffer has built a family of distinctive products built smarter than traditional cleaning tools. Today, Swiffer® Sweeper, Swiffer® Sweeper Heavy Duty, Swiffer® SweeperVac®, Swiffer® WetJet®, Swiffer® Dusters®, Swiffer® 360° Dusters, Swiffer®Dusters Extender, Swiffer® Dust and Shine and Swiffer® Steamboost® are used in more than 50 million households worldwide and continue to revolutionize the way people clean.

About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

The European Commission has approved under the EU Merger Regulation the proposed acquisition of rotating equipment manufacturer Dresser-Rand of the US by Siemens of Germany. Both companies supply turbo compressors as well as the engines which drive these compressors (“drivers”). There are different kinds of drivers including aero-derivative gas turbines (“ADGT”), industrial gas turbines (“IGT”), steam turbines and electric motors.

The combination of a turbo compressor with a driver is called a turbo compressor train. Turbo compressor trains are widely used for various applications in the oil and gas industry, i.e. exploration and production of oil and gas, their transport and storage, as well as for the refining and production of various oil and gas products.
The Commission had concerns that regarding ADGT drivers, turbo compressors and turbo compressor trains driven by ADGTs the transaction would reduce the number of significant suppliers from 3 to 2. The initial investigation also indicated that the parties’ competitors for the supply of small steam turbines of less than 5 MW have a limited presence and do not pose a significant competitive constraint on the parties. These two concerns could lead to less product variety and ultimately higher prices.

After an in-depth investigation launched in February 2015, the Commission has concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Commissioner Margrethe Vestager, in charge of competition policy, commented: “After a detailed assessment of the markets involved, the Commission is satisfied that European consumers will not be negatively affected by the merger.Today’s decision proves that even after an in-depth analysis, the Commission can unconditionally approve a merger if it does not have a negative effect on competition.”

Turbo compressor trains’ drivers
Gas turbines are internal combustion engines that use air as their working fluid. They are used for transport applications, power generation or to drive a mechanical device such as a compressor. There are two broad categories of gas turbines:
ADGTs are gas turbines that have been derived from aero engines designed to propel aircrafts. The aero engine is adapted so that it can be used for power generation or driving mechanical devices such as compressors.
IGTs have been designed specifically for industrial purposes.
Steam turbines are used as drivers for mechanical equipment, such compressors or pumps, or to drive generators where fuels are available to be burned in a boiler to produce steam.
Electric motors transform electric energy into mechanical energy to power machinery, such as compressors.

The Commission’s investigation
The Commission’s initial investigation indicated that:
Regarding ADGT driven turbo compressor trains, the transaction would reduce the number of competitors from three main suppliers– Siemens/Rolls-Royce, Dresser-Rand and General Electric – to two main suppliers.
Regarding small steam turbines below 5 megawatts (MW), Siemens and Dresser-Rand would only face competition from few suppliers.
The Commission therefore focused its in-depth investigation on these two market segments.

The ADGT driven turbo compressor trains
With regard to ADGT driven compressor trains ,the Commission’s investigation showed that the activities of Dresser-Rand and Siemens are largely complementary, as:
they are, to a large extent, focusing on different oil and gas applications; and
they are only rarely bidding against each other in tender procedures
In addition to this, the in-depth investigation showed that ADGT driven compressor trains are largely substitutable with light IGT driven compressor trains. For turbo compressor trains with a power requirement below 23 MW, Solar is currently the market leader ahead of respectively GE and Dresser-Rand. Siemens has only a limited offering of IGTs. As a result, for trains requiring a power output below 23 MW, the Commission found that the two companies not only face competition from GE but also from Solar. Solar does not manufacture light IGTs with a power output above 23 MW..
The Commission therefore concluded that the proposed concentration would not raise competition concerns with respect to ADGT and light IGT driven compressor trains.

The steam turbines below 5 MW
With regard to small steam turbines below 5 MW, the in-depth investigation showed that the two companies are not close competitors, as their activities are largely complementary. Instead, they both face strong competition from other major suppliers on their respective market segment. Moreover, the investigation showed that a number of smaller competitors are, and will remain, active in small steam turbines below 5 MW.
Based on its investigation, the Commission found that these smaller suppliers could expand their production and that additional producers could enter the market. As a result, the Commission concluded that the proposed concentration would not raise competition concerns with respect to small steam turbines below 5 MW.

Companies and products
Siemens is a German public listed company headquartered in Munich. Siemens offers a wide range of products and services through a number of business divisions.
Siemens’ product portfolio includes gas turbines, steam turbines, generators and compressors. Siemens also produces electric motors.
Dresser-Rand is a US public company headquartered in Houston, Texas. Dresser-Rand focuses on supplying customers in the oil and gassector and in particular for upstream exploration and production, midstream transportation, LNG and gas storage applications and downstream refinery processes, as well as distribution of oil and gas related by-products.
Dresser-Rand’s product portfolio includes centrifugal and reciprocating gas compressors, small gas and steam turbines, gas expanders, gas and diesel engines and associated control panels.

Merger control rules and procedures
The Commission has the duty to assess mergers and acquisitions involving companies with a turnover above certain thresholds (see Article 1 of the Merger Regulation) and to prevent concentrations that would significantly impede effective competition in the EEA or any substantial part of it.
The vast majority of notified mergers do not pose competition problems and are cleared after a routine review. From the moment a transaction is notified, the Commission generally has a total of 25 working days to decide whether to grant approval (Phase I) or to start an in-depth investigation (Phase II).
There are currently four other on-going phase II merger investigations.
– the proposed acquisition of the industrial chocolate business of Archer Daniels Midland (“ADM”) by Cargill, with a decision deadline of 6 August 2015;
– General Electric’s proposed acquisition of Alstom’s energy business, with a decision deadline of 21 August 2015;
– the proposed joint venture between the Danish operations of TeliaSonera AB and Telenor ASA with a decision deadline of 2 September 2015 and;
– the proposed acquisition of the Greek gas transmission system operator DESFA by the State Oil Company of Azerbaijan Republic (SOCAR).

Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President & CEO: Masami Iijima) entered with Yanmar Co., Ltd. (“Yanmar”, Head Office: Kita-ku, Osaka, President: Takehito Yamaoka) and Coromandel International Limited (“CIL”), which is a member of the Murugappa Group, a mid-tier conglomerate in India, into joint venture agreement on April 25, 2014 to establish Yanmar Coromandel Agrisolutions Pvt. Ltd. (“YCA”, provisional name) to manufacture, distribute and provide aftersales service of rice farming machinery in India. Mitsui will acquire a 20% shareholding in YCA through Mitsui & Co. (Asia Pacific) Pte. Ltd.

With around 60% of its total population employed in agriculture, India is a major farming nation and is ranked largest in the world in terms of the area used for paddy cultivation. However, the trend toward urbanization is causing a gradual decline in the agricultural population as more and more small farmers leave the land. At the same time, the expansion of food production has become an increasingly urgent priority as India’s population grows. Rice cultivation is a labor-intensive activity, and it will be necessary to achieve sustained production growth by using machinery to offset labor shortages.

The Murugappa Group is a mid-tier conglomerate involved in such areas as fertilizers, agricultural chemicals and sugar production. CIL is the Group’s flagship company and accounts for approximately 38% of its sales. Its business activities focus mainly on agricultural regions in Southern India. Yanmar’s Indian subsidiary is involved mainly in the importation and distribution of farm machinery manufactured in Japan and China.

Mitsui has strengthened its relationship with the Murugappa Group and CIL through transactions in fertilizers and agricultural chemicals. This relationship has now resulted in the establishment of YCA in partnership with Yanmar to manufacture, distribute and provide aftersales service of rice production machinery. Mitsui aims to strengthen the three-company partnership through this business, by working to expand sales of rice transplanters and combined harvesters manufactured by Yanmar and YCA, while also contributing to the mechanization of agriculture in India.

This news is courtesy of www.mitsui.com

CEDAR KNOLLS, N.J., — Veterans and their families in New Jersey will now have access to new career training and career placement opportunities thanks to the New Jersey Manufacturing Extension Program, Inc. (NJMEP) -led New Jersey Defense Manufacturing Community Consortium (NJDMCC). Thanks to funds awarded by the Department of Defense – Office of Local Defense Community Cooperation, NJMEP and partners from around the state will be able to train veterans and their families to support their transition from military service into the civilian workforce. NJMEP will work to support Picatinny Arsenal’s Joint Center for Excellence for Guns and Ammunition in training and placing veterans and their families in the advanced manufacturing industry which directly contributes to national security and the success of the Defense Industrial Base Sector.

“Advanced manufacturing provides incredible, sustainable career opportunities for our nation’s veterans and their family members. Often, these individuals are a perfect match to support the Department of Defense and its supply chain because of the training and experience they received while enlisted,” Torsten Schimanski, Sr. Director of Workforce Development & Strategic Growth, NJMEP explained. He continues, “This investment into this underserved community will go so far in helping veterans gain the industry-relevant knowledge they will need to make a smooth transition into advanced manufacturing.”

The training opportunities offered by NJMEP and County College of Morris focus on foundational manufacturing skills such as CNC, welding, as well as certifications in safety and production processes. The program is available for 5 years and offers 1,200 participants.

NJMEP is inviting manufacturers and suppliers in the Department of Defense (DoD) supply chain to join the newly formed consortium. Below is an example of just some of the partners currently involved:

New Jersey Council of County Colleges (NJCCC)
The African American Chamber of Commerce of NJ
The National Armaments Consortium (NAC)
The Statewide Hispanic Chamber of Commerce of NJ
US Manufacturing Institutes
o American Lightweight Materials (ALMMI)
o Advanced Robotics (ARM)
o National Center of Defense Manufacturing (NJDMM)
John W. Kennedy, Ph.D, CEO, NJMEP added, “Not only is the training a key aspect of this exciting initiative, but we will also be working together with industry and community partners to place these newly trained, highly reliable individuals at manufacturing organizations all around the state. It closes the loop, so this amazing population isn’t left to transition back into the civilian world without the support they deserve.”

“I am thrilled to see this grant funding coming to New Jersey that will create job training positions for over 600 veterans and family members over the next five years. Thank you to NJMEP and the many organizations involved, including NJ Pathways, the NJ Veterans Chamber of Commerce, and the County College of Morris, for your ongoing partnership in advocating for the manufacturing sector here in the Garden State. I am proud to have championed this grant program through my work on the House Armed Services Committee, and even prouder to have supported NJMEP in their efforts to secure this federal funding for New Jersey – one of only 6 grant awards across the country for this program,” said Rep. Sherrill.

Under section 846 of the Fiscal Year 2019 National Defense Authorization Act, the Secretary of Defense can establish programs such as The Defense Manufacturing Community Support Program to designate and support consortiums in defense manufacturing communities to strengthen the national security industrial base. This project led by NJMEP is a critical component in strengthening the domestic DoD advanced manufacturing supply chain, ensuring a local highly trained workforce pool exists, and at the same time supporting transitioning military families by offering training, and job placement at careers that have an average annual compensation of over $97,000 per year.

About NJMEP: NJMEP is a private, not-for-profit organization that improves the profitability and competitiveness of New Jersey’s manufacturers. Backed by the National Institute of Standards and Technology (NIST), NJMEP enables organizations to enhance their productivity and efficiencies, reduce costs, and improve employee performance. For more than 20 years, NJMEP has used its extensive network of connections and proven track record of success to help manufacturers adapt to the latest innovative technologies and best practices to realize more than $6.03 billion in value. Our services are categorized into the following three areas: Operational Excellence, Innovation and Growth and Workforce Development.

SOURCE New Jersey Manufacturing Extension Program

CONTACT: Mike Womack, Phone: 973-998-9801 x220, Email: mwomack@njmep.org

One in every ten cigarettes consumed in the European Union in 2013 were illicit, 33% of which were “illicit whites”, an emerging type of illegal, branded cigarettes manufactured for the sole purpose of being smuggled, according to a KPMG study published today. At these levels, EU governments lost approximately
€10.9 billion to the illegal market.

KPMG found that while the number of “illicit whites” consumed increased by 15% compared to 2012, overall, the illegal trade of cigarettes in the EU stabilized, declining slightly from a record high of 11.1% in 2012 to 10.5% in 2013. This stabilization was due to a significant decrease in contraband cigarettes, legal cigarettes typically smuggled from low tax countries to high tax countries, as industry, governments and law enforcement increased efforts to curtail this illegal activity.

“Our latest research on the illegal tobacco market found that while there was positive news on the decreased trade in contraband tobacco products overall across the EU, there are other trends that are cause for concern, including the continued increase in the number of ‘illicit whites’ being consumed. Our report also carries a warning to some countries where large volumes of illegal tobacco are being smoked,” comments Robin Cartwright, Partner KPMG.

KPMG found the highest illegal trade incidence levels for 2013 in Latvia (28.8%), Lithuania (27.1%), Ireland (21.1%), Estonia (18.6%) and Bulgaria (18.2%).

The highest volumes of illegal cigarettes were consumed in Germany and France with 11.3 billion and 9.6 billion illegal cigarettes, respectively, and Poland and Greece where “illicit whites” accounted for 9.1% and 12.2% of consumption respectively.

Other key findings include:
Overall, 58.6 billion illegal cigarettes were consumed in the EU; this is equivalent to the total legal cigarette markets of Spain and Portugal combined and represents a total tax revenue loss of €10.9 billion;
In 2013, 10.5% of all cigarettes consumed in the EU were illegal, compared to 11.1% in 2012 and 10.4% in 2011;
The prevalence of contraband – which excludes “illicit whites” and counterfeit – dropped significantly by 26.7% to 35.6 billion cigarettes;
“Illicit whites” reached a record high of 19.6 billion cigarettes, from virtually zero in 2006; and
The highest “illicit white” volumes for 2013 were measured in Poland (4.0 billion), Greece (2.8 billion), Spain (2.5 billion), Bulgaria (1.6 billion) and Germany (1.4 billion).

Despite the overall decline in the illegal market in 2013, the EU’s black market for tobacco remains a significant source of revenue loss for governments and a resilient competitor to the legitimate manufacturers and trade. This illegal activity not only comes at a financial cost, but it fosters criminality in local communities. British American Tobacco plc (BAT), Imperial Tobacco Group plc (Imperial), Japan Tobacco International (JTI) and Philip Morris International Inc. (PMI) continue to devote significant resources to combat this problem – above the requirements set out in their Cooperation Agreements with the European Commission – underpinned by the conviction that effective solutions require solid cooperation between governments, law enforcement agencies, manufacturers and retailers.

For the first time since its inception in 2006, KPMG’s study was commissioned by all four major tobacco manufacturers operating in the EU – BAT, Imperial, JTI and PMI. This allowed KPMG access to a wider set of data sources, which further refined and improved the completeness of the analysis. Prior to 2013, the study was commissioned by PMI as part of the company’s commitments under its Cooperation Agreement with the European Commission.

The 2013 KPMG study on the illegal cigarette consumption in the EU is available on KPMG’s website: http://www.kpmg.com/uk/projectsun2014

###

Notes to editors

KPMG SUN 2013 defines “illicit whites” as cigarettes that are usually produced legally in one country/market, primarily for smuggling. While they may also be exported legally from some countries, they are smuggled across borders during their transit to their final destination market where they have limited or no legal distribution and are sold without payment of tax.

KPMG Study on the illicit cigarette consumption in the EU:
KPMG has conducted this study every year since 2006, as part of the Cooperation Agreement between Philip Morris International, the European Commission and the EU Member States. For the first time in 2013, the study was commissioned by all four major tobacco manufacturers – British American Tobacco plc (BAT), Imperial Tobacco plc (Imperial), Japan Tobacco International (JTI) and Philip Morris International Inc. (PMI).

About British American Tobacco plc:
British American Tobacco is a global tobacco Group with brands sold in more than 200 markets.
It employs more than 57,000 people worldwide and has over 200 brands in its portfolio, with its cigarettes chosen by one in eight of the world’s one billion smokers. Alongside offering tobacco products, British American Tobacco is committed to offering safer nicotine alternatives to adult smokers. As such, it was the first tobacco company to launch an e-cigarette in the UK. www.bat.com

About Imperial Tobacco Group plc:
Imperial Tobacco is an international fast moving consumer goods company with a long track record of creating value for our shareholders. Our diverse market footprint spans more than
160 countries worldwide and we’re proud to have developed a comprehensive global portfolio of brands with strong positions in all the main tobacco categories.

Our cigarette brands are among the most popular in the world and we have established ourselves as the global leader in fine cut tobacco and papers. We also have exclusive rights to sell all luxury Cuban cigars and have a dynamic range of smokeless tobacco brands. For more information please visit: www.imperial-tobacco.com

About JTI:
JTI, a member of the Japan Tobacco Group of Companies, is a leading international tobacco manufacturer. It markets world-renowned brands such as Camel, Winston and Mevius (Mild Seven). Other global brands include Benson & Hedges, Silk Cut, Sobranie, Glamour and LD. With headquarters in Geneva, Switzerland, and about 27,000 employees worldwide, JTI has operations in more than 120 countries. Its core revenue in the fiscal year ended December 31, 2013, was USD 12.3 billion. For more information, visit www.jti.com.

About Philip Morris International Inc.:
Philip Morris International Inc. is the leading international tobacco company, with seven of the world’s top 15 international brands, including Marlboro, the number one cigarette brand worldwide. PMI’s products are sold in more than 180 markets. In 2013, the company held an estimated 15.7% share of the total international cigarette market outside of the U.S., or
28.2% excluding the People’s Republic of China and the U.S. For more information, see www.pmi.com.

PMI Press Office contact details: E: media@pmi.com T: +41 58 242 4500

About KPMG:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

WASHINGTON, D.C. – To prevent deaths and injuries to children, the U.S. Consumer Product Safety Commission (CPSC) has approved a new federal mandatory standard to improve the safety of bassinets and cradles. The vote was 4 to 1.

The new federal standard incorporates provisions in the voluntary standard (ASTM F2194-13), Standard Consumer Safety Specification for Bassinets and Cradles. CPSC staff recommended five modifications to F2194-13 standard. These modifications address risks not adequately covered by the voluntary standard. The modifications include:

A clarification of the scope of the bassinet/cradle standard;

A change to the pass/fail criterion for the mattress flatness test;

An exemption from the mattress flatness requirement for bassinets that are less than 15 inches across;

The addition of a removable bassinet bed stability requirement; and

A change to the stability test procedure, requiring the use of a newborn CAMI dummy rather than an infant CAMI dummy.

CPSC received notice of 426 incidents involving bassinet/cradles, including 132 fatalities from November 2007 through March 2013. The new standard defines “bassinet/cradle” as a small bed designed primarily to provide sleeping accommodations for infants, supported by free standing legs, a stationary frame or stand, a wheeled base, a rocking base, or swing relative to a stationary base. In a stationary (non-rocking or swinging) position, a bassinet/cradle is intended to have a sleep surface less than or equal to 10 degrees from horizontal.

A bassinet/cradle is not intended to be used beyond the age of about 5 months or when a child is able to push up on his hands and knees. Bassinet and cradle attachments for non-full-size cribs or play yards are considered to be part of the bassinet/cradle category, as are bedside sleepers that can be converted to four-sided bassinets not attached to a bed.
Courtesy of U.S. Consumer Product Safety Commission

LAUSANNE, Switzerland — Philip Morris International Inc. (PMI) (NYSE: PM) today warns about increasing rates of illicit cigarette consumption in the European Union (EU), which are depriving governments of billions in tax revenues and eroding tobacco control policies. PMI calls for a reassessment of policy choices that may be contributing to the year-over-year growth of the illicit market in the region and for innovative approaches that can help drive millions away from continued smoking to be considered.

The 2022 KPMG annual study on illicit cigarette consumption in the EU, U.K., Norway, Switzerland, Moldova and Ukraine, commissioned by Philip Morris Products SA, reveals that 35.8 billion illicit cigarettes were consumed across the EU alone, causing governments the loss of an estimated €11.3 billion in tax revenue—8.5% more than in 2021. The growth of the illicit market in the EU was partly driven by the continued rise of counterfeit consumption, which reached its highest level ever recorded. Notably, the vast majority of counterfeits (61.5%) were consumed in France.

“Some countries unwilling to embrace innovation and make better alternatives to cigarettes available to adult smokers who would otherwise continue smoking continue to rely on policies that have contributed to the current state of illicit trade. The cost of ignoring the negative impact of illicit cigarettes on adult smokers, and on public health, is too high to turn a blind eye to,” stated Gregoire Verdeaux, senior vice president of External Affairs, PMI. “It has truly become a ‘made in the EU’ problem, as fake cigarettes are being manufactured, distributed, sold, and consumed in countries within the EU, undermining efforts to reduce and eliminate cigarette smoking—and public health goals altogether.”

According to interviews with law enforcement agencies included in the KPMG report, the production and distribution of counterfeit cigarettes within EU borders is increasing, with criminal organizations centering their activities toward higher-taxed and higher-priced EU member states and gaining larger profits. Countries such as Belgium, Denmark, France, and Germany are witnessing a growth in cigarette seizures and raids on clandestine manufacturing operations.

“The KPMG report clearly shows how the growth of the illicit cigarette market poses an existential threat to the industry’s sustainability and transformation in Europe. We can observe how the illicit cigarette problem in the EU has become highly concentrated in a handful of countries, where governments have not embraced innovative approaches to effectively deter millions from continued smoking,” added Verdeaux. “Traditional tobacco control policies are simply not enough. Aggressive fiscal policies, prohibitionist approaches, and lack of deterrence in countries like France and Belgium are only benefitting criminals and pushing adult smokers toward the black market.”

Despite the overall illicit consumption increase, the KPMG study notes that the majority of EU members— 21 out of 27 countries—experienced a stable or declining share of illicit cigarette consumption in 2022. Excluding France, overall illicit consumption in the remaining markets in the study declined by 7.5%, largely due to decreases in Greece, the Netherlands, Portugal, and Romania. Particularly, in countries like Poland and Romania, illicit consumption reached the lowest-ever incidence since KPMG began publishing its annual studies.

“Effective policymaking, fiscal calendars, deterrent penalties, and impactful enforcement are enabling several EU member states to experience a decline in the consumption of illicit cigarettes,” said Massimo Andolina, president Europe region at PMI. “In other countries, it is unfortunate to witness the legal market shifting toward one that is run by criminal networks, which attest to the failure of disproportionate tax increases, and regulatory frameworks that do not contemplate the principle of risk differentiation. The KPMG report should serve as a wake-up call for regulators and policymakers in the EU to consider that millions of consumers are relying on the black market to continue smoking.”

Moldova and Ukraine were included in the KPMG report for the first time. The 2022 findings placed Ukraine as the second-largest market in Europe for illicit cigarette consumption, with 7.4 billion cigarettes, behind France’s 16.9 billion. The share of illicit cigarettes in Ukraine has followed an increasing trend since 2018—in 2022, one out of five cigarettes consumed stemmed from the illicit market. The third-largest illicit market in Europe is the U.K., with 5.9 billion illicit cigarettes, on the rise since 2020.

“In these times of economic hardship, with inflation putting extra pressure on consumer purchasing power, we need robust law enforcement, comprehensive regulatory approaches and forward-thinking policies that can help improve the lives of millions of adults who continue to smoke,” noted Verdeaux. “This includes the adoption of differentiated policies on alternatives to cigarettes, including access to information about better alternatives, and smoke-free products that are available and affordable for all. No one should be left behind.”

A detailed overview of the results and methodology of the KPMG report is available here.

For more information about PMI’s illicit trade prevention efforts, visit PMI.com.

Note to editors
For PMI, eliminating the illicit tobacco trade has been a long-standing priority. We rely on the latest technology to secure our supply chain and protect our products, while implementing preventive and protective measures to fight illicit trade and working with public and private sectors to advance efforts against this global issue. PMI continues to support relevant regulations like the FCTC Protocol to Eliminate Illicit Trade in Tobacco Products and the EU Tobacco Products Directives’ tracking-and-tracing provisions.

The KPMG report estimates the size and scale of illicit cigarette consumption, known as counterfeit & contraband (C&C), which includes illicit whites. The annual study defines these in its glossary as follows:

– Contraband: “Genuine products that have been either bought in a lower-tax country and exceed legal border limits or acquired without taxes for export purposes to be illegally re-sold (for financial profit) in a higher priced market.”

– Counterfeit: “Cigarettes that are illegally manufactured and sold by a party other than the original trademark owner.”

– Illicit whites: “Cigarettes that are usually manufactured legally in one country/market, but that evidence suggests have been smuggled across borders during their transit to the destination market under review where they have limited or no legal distribution and are sold without payment of tax.”

More information about the share incidence of each illicit category is available on page 12 of the KPMG report.

London/Rotterdam – Unilever today announced a new supplier policy as part of the action to halt deforestation. As a result, more of Unilever packaging – including wooden ice cream sticks – will be sourced sustainably by the end of the year.

Sustainable from labels to lolly sticks
Unilever’s target is to ensure that all materials used that contain fibre obtained from wood are traceable from certified and known sources by 2020. In 2014, the volume of sustainably sourced paper and board used increased to 87%, up significantly from 62% the previous year. Unilever is therefore now bringing forward its commitment to source all paper and board packaging sustainably by the end of 2015.

The new Wood Fibre Sourcing Policy will contribute to Unilever’s work to eliminate deforestation from supply chains. It will also help to embed the Unilever Responsible Sourcing Policy, which supports Unilever’s commitment to increase its positive social impact throughout the entire supply chain by improving the lives of workers and their communities.

The move is expected to resonate with consumers. Unilever research across 11 countries has found that three quarters of consumers would be more likely to purchase a product if they knew it was made from sustainably sourced ingredients, and according to Nielsen, millennials are four times as responsive to sustainability credentials as the over 50s. Globally, consumer spending on responsible consumption products is $400bn.

Pier Luigi Sigismondi, Chief Supply Chain Officer said:
“To meet our ambitious zero deforestation policies and support the move to prosperous and sustainable land use in developing countries, we need to work with all organisations in the value chain, such as our suppliers, NGO’s, and governments.

“The business case for doing this is clear. It helps us secure a sustainable supply of commodities into the future, and it is good news for forests and the people that live and depend on them. Action on forests can tackle emissions – at least 4.5 billion tonnes of CO2 a year – while at the same time increasing food production sustainably and improving livelihoods.”