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AB Electrolux today announced it has entered into an agreement to acquire the appliances business of General Electric (“GE Appliances”), one of the premier manufacturers of kitchen and laundry products in the United States, for a cash consideration of USD 3.3 billion.
The acquisition enhances Electrolux’s position as a global player in home appliances, offering an unparalleled opportunity to invest in innovation and growth, which will benefit consumers, retailers, employees and shareholders.

Highlights
Attractive strategic fit in North America.
Significant synergies, primarily in sourcing and operations.
Cash consideration of USD 3.3 billion.
Transaction expected to be EPS accretive from year one.

Financing is provided by a committed bridge facility and the transaction is not subject to any financing conditions. A rights issue corresponding to approximately 25% of the consideration is planned following completion of the acquisition.

Completion of the acquisition is mainly subject to regulatory approvals.
“This is an historic moment and important strategic move for the Electrolux Group, which takes our company to a new level in terms of global reach and market coverage. GE’s premium, high-quality appliances complement our own iconic brands and will enhance our presence in North America” said Keith McLoughlin, President and CEO of Electrolux. “The acquisition, which is our largest ever, strengthens our commitment to the appliance business and also provides Electrolux with the scale and opportunity to accelerate our investments in innovation and global growth.”
Jeff Immelt, Chairman and CEO of GE, said, “Electrolux is the right global business for our customers, consumers and employees. GE Appliances’ people, valuable home appliances brand, products, distribution, and service capabilities make it a perfect fit with Electrolux and its goal of accelerating growth in the U.S.”

Description of GE Appliances
GE Appliances is headquartered in Louisville, Kentucky, and generates more than 90% of its revenue in North America. GE Appliances’ product portfolio includes refrigerators, freezers, cooking products, dishwashers, washers, dryers, air conditioners, water filtration systems and water heaters. Its revenue split by major product category is approximately 35% cooking, 25% refrigeration, 20% laundry, 10% dishwashers and 10% home comfort (A/C). The company operates its own distribution and logistics network and has nine well-invested manufacturing facilities with 12,000 employees.

The acquisition includes a 48.4% shareholding in the Mexican appliance company Mabe. For nearly 30 years, GE Appliances has had a joint venture with Mabe in Mexico where Mabe develops and manufactures portions of GE Appliances’ product offering.
In 2013, GE Appliances had sales of USD 5.7 billion (SEK 37 billion) and an EBITDA of USD 390 million (SEK 2.5 billion) including share of income from Mabe.

Transaction rationale and synergies
The acquisition of GE Appliances is an important step for Electrolux towards realizing the Group’s vision: to be the best appliance company in the world as measured by customers, employees and shareholders.

The scale and efficiencies from combining the businesses create a solid financial foundation from which to drive growth in the increasingly global and competitive appliance industry. The Electrolux Group will further strengthen its capacity to invest in innovation and growth.
The fit between Electrolux and GE Appliances creates a strong platform for growth in the North American appliance market and enables the combined business to better serve North American consumers. GE Appliances has a strong offering to consumers complementing Electrolux’s current brands in the United States. Electrolux has secured the right to the GE Appliances brands through a long term license agreement with GE. GE Appliances’ nationwide distribution and logistics network also provides an opportunity to offer an even wider range of products to a broader consumer base.

“GE Appliances is a well-run operation with strong capabilities in key areas such as R&D, engineering, supply chain and customer service, and we look forward to joining forces with their team of talented and competent people,” Keith McLoughlin said.

The transaction is expected to generate annual cost synergies of approximately USD 300 million. One-off implementation costs and capital expenditures are estimated to USD 300 million and USD 50‑70 million respectively. The largest parts of the synergies are expected in sourcing, operations, logistics and brands.

Proforma financials
The proforma combined 2013 sales figure for Electrolux and GE Appliances is USD 22.5 billion (SEK 147 billion) and EBITDA is USD 1.5 billion (SEK 9.7 billion). Electrolux and GE Appliances together have 73,000 employees.

The effect of the transaction on Electrolux’s earnings per share is expected to be accretive from year one. The EBITDA multiple for the full year 2014 is expected to be in the range of 7.0-7.3x.

The transaction is expected to contribute positively to cash flow. The financial position of Electrolux, after completion of the planned rights issue, is expected to be consistent with a financial policy to retain an investment grade credit rating.

Transaction terms and timing
Electrolux will acquire GE Appliances for a cash consideration of USD 3.3 billion. The deal is structured primarily as an asset transaction.
Completion of the transaction is mainly subject to regulatory approvals. The acquisition is expected to close during 2015.
As is customary in the United States in certain types of transactions, Electrolux has agreed to pay a termination fee of USD 175 million in certain circumstances involving the failure to obtain regulatory approvals.

Financing
The acquisition of GE Appliances will be funded by a committed bridge facility arranged by Deutsche Bank AG and Skandinaviska Enskilda Banken AB (publ). The bridge facility is planned to gradually be replaced by capital market and bank financing (approximately 75%) and a rights issue (approximately 25%). The Board of Directors of Electrolux will invite the shareholders to a general meeting and make a proposal on the rights issue. The rights issue is intended to be completed following completion of the transaction.

Advisors
Deutsche Bank and SEB Corporate Finance are acting as financial advisors to Electrolux. Davis Polk & Wardwell is acting as lead legal advisor to Electrolux.

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.

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

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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.

ATLANTA and CORONA, CA., Aug. 14, 2014 – The Coca-Cola Company (NYSE: KO) and Monster Beverage Corporation (NASDAQ: MNST) announced today that they have entered into definitive agreements for a long-term strategic partnership that is expected to accelerate growth for both companies in the fast-growing, global energy drink category. The new, innovative partnership leverages the respective strengths of The Coca-Cola Company and Monster to create compelling value for both companies and their shareowners.

Importantly, the partnership strategically aligns both companies for the long-term by combining the strength of The Coca-Cola Company’s worldwide bottling system with Monster’s dedicated focus and expertise as a leading energy player globally.

Details of the Transactions:
Equity Investment: In an effort to align long-term interests, The Coca-Cola Company will acquire an approximately 16.7% ownership interest in Monster (post issuance) and will have two directors on Monster’s Board of Directors. The Coca-Cola Company expects to account for its investment in Monster under the equity accounting method.

Business Transfers: To optimally align product portfolios and enable those portfolios to benefit from each company’s respective brand marketing, production and distribution strengths and optimize the parties’ capital and resource allocation, The Coca-Cola Company will transfer ownership of its worldwide energy business, including NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentless, to Monster; and Monster will transfer its non-energy business, including Hansen’s Natural Sodas, Peace Tea, Hubert’s Lemonade and Hansen’s Juice Products, to The Coca-Cola Company.

Distribution: The Coca-Cola Company and Monster will amend their current distribution agreement in the U.S. and Canada by expanding into additional territories and entering into long-term agreements. The Coca-Cola Company will become Monster’s preferred distribution partner globally and Monster will become The Coca-Cola Company’s exclusive energy play. These agreements will deliver sustainable value to The Coca-Cola Company’s global system and accelerate Monster’s opportunity to grow internationally.

Pursuant to the terms of the transaction agreements, at the closing, The Coca-Cola Company will make a net cash payment of $2.15 billion and transfer its worldwide energy business to Monster. In exchange, Monster will issue to The Coca-Cola Company the shares of Monster common stock, transfer its non-energy business to The Coca-Cola Company, and enter into expanded distribution arrangements. The transaction, which is expected to close late in 2014 or early in 2015, is subject to customary closing conditions, including receipt of regulatory approvals.

“The Coca-Cola Company continues to identify innovative approaches to partnerships that enable us to stay at the forefront of consumer trends in the beverage industry,” said Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company. “Our equity investment in Monster is a capital efficient way to bolster our participation in the fast-growing and attractive global energy drinks category. This long-term partnership aligns us with a leading energy player globally, brings financial benefit to our Company and our bottling partners, and supports broader commercial strategies with our customers to bring total beverage growth opportunities that will also benefit our core business.”

Kent added, “We are excited to evolve our long-time partnership. Monster has been an important part of our global system since 2008, so we have experienced first-hand Monster’s performance-driven and entrepreneurial culture, proven success in building and extending the Monster brand and their strong product innovation pipeline. We believe this partnership will create compelling and sustainable value for our system and our shareowners.”

“The transaction announced today represents a unique opportunity for Monster and its shareholders,” said Rodney C. Sacks, Chairman and Chief Executive Officer of Monster. “We gain enhanced access to The Coca-Cola Company’s distribution system, the most powerful and extensive system in the world. At the same time, we become The Coca-Cola Company’s exclusive energy play, with a robust portfolio led by our Monster Energy line and The Coca-Cola Company’s energy brands. Our business will be bolstered by The Coca-Cola Company energy brands we will acquire, providing us with complementary energy product offerings in many geographies, as well as access to new channels, including vending and specialty accounts,” Sacks said.

“Our agreement enables us to focus on our core energy business, while leveraging the strength of The Coca-Cola Company’s powerful distribution and bottling system on a worldwide scale,” said Hilton H. Schlosberg, Monster’s Vice Chairman and President. “The goals of both companies’ management teams are further aligned, with a great enhancement to Monster’s position as one of the world’s leading energy beverage companies. We expect the transaction to significantly accelerate our growth and results of operations internationally, and we plan to review all options available to return a substantial amount of cash to our shareholders,” Schlosberg added.

Advisors
Barclays served as financial advisor and Jones Day served as legal advisor to Monster. Skadden, Arps, Slate, Meagher & Flom LLP advised The Coca-Cola Company.

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.

About Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries market and distribute energy drinks and alternative beverages including Monster Energy® brand energy drinks, Monster Energy Extra Strength Nitrous Technology® brand energy drinks, Java Monster® brand non-carbonated coffee + energy drinks, X-Presso Monster® brand non-carbonated espresso energy drinks, M3® Monster Energy® Super Concentrate energy drinks, Monster Rehab® non-carbonated energy drinks with electrolytes, Muscle Monster® Energy Shakes, Übermonster® energy drinks, and Peace Tea® iced teas, as well as Hansen’s® natural sodas, apple juice and juice blends, multi-vitamin juices, Junior Juice® beverages, Blue Sky® beverages, Hubert’s® Lemonades and PRE® Probiotic drinks. For more information, visit www.monsterbevcorp.com.

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.

CINCINNATI –Separating sustainable sources from non-sustainable sources in the production of palm oil and palm kernel oil is highly complicated, but Procter & Gamble (NYSE:PG) is stepping up to address the problem. The Company is conducting an in-field study to understand the practices of small farmers – and how those practices can be improved to protect local forests. P&G is partnering with the Malaysia Institute for Supply Chain Innovation (MISI) to field the study, fulfilling a commitment it made earlier this year as part of new goals to achieve zero deforestation in the palm oil supply chain.

“We want to make the sourcing of palm oil and palm kernel oil sustainable from start to finish — and still economically viable for local farmers who depend on the crop to support their families,” said Len Sauers, Vice President of P&G Sustainability. “We already work with larger suppliers to trace the origin of our supply chain, but small farmers – in places like Malaysia and Indonesia – account for 35-45% of palm oil production. We need to understand their needs and practices so we can create innovative solutions to the problem, just like we understand the day-to-day lives of consumers to meet their needs with innovative products.”

“This is a complex supply chain involving thousands of small farmers who interact with others, so the product changes hands many times between the growers, traders, millers, buyers, and ultimately the purchasing company. As a result, separating sustainable sources from non-sustainable sources is almost impossible. We are targeting zero deforestation by fostering an inclusive ecosystem that supports small farmers’ challenges,” said Mahender Singh of MISI, a global leader in supply chain management and logistics.

In April, P&G announced new goals to help ensure zero deforestation in its palm oil supply chain. The goals call for traceability of palm oil and palm kernel oil to supplier mills by December 31, 2015, and to plantations by 2020. The six-month study announced today supports these goals and will enable P&G to understand the small-farmer supply chain and how best to help local growers. The Company will report the findings and develop an action plan to address them by the end of September 2014. MISI is helping to facilitate this research and will work with P&G to develop the action plans.

The goals also call for P&G to extend work with suppliers, industry peers, NGOs, academic experts and other stakeholders to promote industry-aligned standards and practices for sustainable palm oil sourcing.

“We are working in partnership with industry experts, large suppliers and small farmers to make a significant and lasting impact. In support of this commitment, we will develop tools and best practices that we can share with other companies facing the same opportunities we’re facing in establishing traceability from farm to purchase,” said Dr. Sauers.

About MISI
Located in Shah Alam, Malaysia, MISI is the fourth center in the MIT Global SCALE (Supply Chain and Logistics Excellence) Network. It is a joint initiative between the Massachusetts Institute of Technology (MIT) and the government of Malaysia and is an international alliance of leading-edge research and educational organizations, dedicated to the development and dissemination of global innovation in supply chain and logistics.

About Procter & Gamble
P&G serves approximately 4.8 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®, Duracell®, 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.

– See more at: http://news.pg.com/press-release/pg-corporate-announcements/pg-launches-work-small-farmers-ensure-no-deforestation-its-#sthash.1ytB2FMP.dpuf

OSAKA, Japan / PALO ALTO, USA, – Panasonic Corporation and Tesla Motors, Inc. have signed an agreement that lays out their cooperation on the construction of a large-scale battery manufacturing plant in the United States, known as the Gigafactory.

According to the agreement, Tesla will prepare, provide and manage the land, buildings and utilities. Panasonic will manufacture and supply cylindrical lithium-ion cells and invest in the associated equipment, machinery, and other manufacturing tools based on their mutual approval. A network of supplier partners is planned to produce the required precursor materials. Tesla will take the cells and other components to assemble battery modules and packs. To meet the projected demand for cells, Tesla will continue to purchase battery cells produced in Panasonic’s factories in Japan. Tesla and Panasonic will continue to discuss the details of implementation including sales, operations and investment.

The Gigafactory is being created to enable a continuous reduction in the cost of long range battery packs in parallel with manufacturing at the volumes required to enable Tesla to meet its goal of advancing mass market electric vehicles. The Gigafactory will be managed by Tesla with Panasonic joining as the principal partner responsible for lithium-ion battery cells and occupying approximately half of the planned manufacturing space; key suppliers combined with Tesla’s module and pack assembly will comprise the other half of this fully integrated industrial complex.

JB Straubel, Chief Technical Officer and Co-founder of Tesla Motors said: “the Gigafactory represents a fundamental change in the way large scale battery production can be realized. Not only does the Gigafactory enable capacity needed for the Model 3 but it sets the path for a dramatic reduction in the cost of energy storage across a broad range of applications.”

Yoshihiko Yamada, Executive Vice President of Panasonic, added, “We have already engaged in various collaborative projects with Tesla toward the popularization of electric vehicles. Panasonic’s lithium-ion battery cells combine the required features for electric vehicles such as high capacity, durability and cost performance. And I believe that once we are able to manufacture lithium-ion battery cells at the Gigafactory, we will be able to accelerate the expansion of the electric vehicle market.”

Cost reductions will be achieved through optimized manufacturing processes driven by economies of scale previously unobtainable in battery cell and pack production. Further price reductions are achieved by manufacturing cells that have been optimized for electric vehicle design, both in size and function, by co-locating suppliers on-site to eliminate packaging, transportation & duty costs and inventory carrying costs, and by manufacturing at a location with lower utility and operating expenses.

The Gigafactory will produce cells, modules and packs for Tesla’s electric vehicles and for the stationary storage market. The Gigafactory is planned to produce 35GWh of cells and 50GWh of packs per year by 2020. Tesla projects that the Gigafactory will employ about 6,500 people by 2020.

Panasonic
http://panasonic.net/

Tesla Motors
http://www.teslamotors.com/blog-and-press-releases

PITTSBURGH, – PPG Industries (NYSE:PPG) today announced that it has reached a definitive agreement to sell substantially all the assets of its Mt. Zion, Illinois, glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. The sale is expected to close in the third quarter 2014, subject to customary closing conditions. Financial terms were not disclosed.

The Mt. Zion facility currently manufactures glass for use in residential and commercial construction markets. Fuyao plans to rebuild and retrofit the facility’s two production lines to manufacture automotive glass. PPG will continue to operate the plant for up to one year, producing SUNGATE® coated glass and clear glass. The production for these products will eventually be shifted to PPG’s other North American float glass manufacturing sites.

The sale of the Mt. Zion facility is consistent with the strategic initiative by PPG’s flat glass business to focus on its higher-technology, coated glass capabilities for residential and commercial construction application.

“Glass coatings technology remains the engine of our growth and we plan to make incremental technology investments in our facilities to improve our current capacity for better-performing, low-e glass and to expand our overall technical capabilities for newer, more advanced products,” said Richard Beuke, PPG vice president of flat glass.

In regard to the Mt. Zion facility, Beuke added, “Fuyao has been PPG’s business partner for 13 years and is a well-respected glass manufacturer and fabricator. We look forward to an ongoing collaborative relationship with Fuyao in North America as a PPG technology licensee. The Mt. Zion facility is ideally suited for their automotive glass mission, given its geographic proximity to major automotive manufacturers and history in automotive glass production.”

PPG’s flat glass business unit manufactures high-performing coated glass, tinted and clear float glass primarily for the residential and commercial segments of the construction industry, as well as other specialty glass markets. The Mt. Zion facility was built in 1959 and converted for float glass production in 1978.

About Fuyao Glass America Inc.
Fuyao Glass Industry Group Co. Ltd. (FYG) is a leading international manufacturer of automotive and industrial glass located in the People’s Republic of China. The company has been listed on the Shanghai Stock Exchange since 1993. It employs more than 19,000 people in China, Hong Kong, America, Europe, Australia and Russia. Being the largest automotive glass supplier in China, FYG controls over 60 percent share of Chinese OEM market and over 30 percent share of Chinese replacement market. FYG’s main customers are GM, Ford, Honda, Isuzu, Toyota, Mazda, Audi, Volkswagen, Citroen, and Mercedes, to name a few.

PPG: BRINGING INNOVATION TO THE SURFACE.™
PPG Industries’ vision is to continue to be the world’s leading coatings and specialty materials company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2013 were $15.1 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com

– See more at: http://corporate.ppg.com/Media/Newsroom/2014/PPG-reaches-agreement-to-sell-Mt-Zion-float-glass#sthash.QW9vPwb9.dpuf

U.S. Secretary of Commerce Penny Pritzker today urged U.S. businesses to evaluate the benefits of reshoring their operations back to the United States during remarks at the “Reinvesting in America, Creating Jobs at Home” forum on Capitol Hill. Pritzker joined U.S. Representative Frank Wolf (R-Va.) in hosting the forum which focused on raising awareness of reshoring trends, highlighting best practices for companies considering reshoring, and introducing services offered by the Department of Commerce to potential investors. Attendees discussed how bringing operations back to the U.S. creates well-paying jobs and helps national and local economies grow and thrive.

“A growing number of global companies are realizing there has never been a better time to invest in America. Many of them are finding that the total cost of production and other expenses related to manufacturing abroad can carry costs and risks that outweigh the benefits and are considering domestic operations, ”said Penny Pritzker, U.S. Secretary of Commerce. “Businesses across the globe are looking to invest in U.S. manufacturing and services, and through SelectUSA, the Commerce Department is continuing its work to support and educate companies interested in reshoring.”

“This is not a Democrat issue or a Republican issue; it’s an American issue,” said Rep. Frank Wolf, chairman of the House Appropriations subcommittee that funds the Commerce Department and was the driving force behind today’s conference. “We have an opening now to accelerate the process of bringing these jobs back home. Many companies that have offshored are unhappy with the quality of goods produced overseas. Labor costs are rising rapid. Shipping costs are rising rapidly. The cost due to the theft of intellectual property by the Chinese government is almost incalculable. That’s why there has been so much more interest in reshoring manufacturing over the last several years. I believe this trend will continue to accelerate, especially with encouragement from the government and business community. A great nation cannot survive by exporting ideas and innovations alone. It needs to also produce these items as well. Our future depends on it.”

The Forum—organized by SelectUSA, a program housed within the Department of Commerce—brought together more than 200 members of the business community, representatives of state and local governments, national associations, and congressional staff, to hear directly from American business leaders and companies that are reshoring, and learn more about the latest trends and available resources to help businesses move their operations back to the United States.

Whirlpool Corporation Chief Executive Officer Jeff Fettig delivered keynote remarks and described how his company’s decision to move production of a line of front-load commercial washers from abroad to Clyde, Ohio, is creating new jobs and positively impacting the local economy.

Participants learned more about Walmart’s commitment to buy an additional $250 billion in U.S. products over the course of 10 years, and heard from companies successful in reshoring: K’NEX Brands, a toy manufacturer; Mantra Services, an IT services provider; and the Richelieu Legwear, makers of Peds brand socks and other legwear. Yesterday, Richelieu Legwear International, Inc., a SelectUSA client, announced its investment in a new, state-of-the-art facility that will reshore production from overseas and ultimately create more than 200 jobs here in the U.S.

To help U.S. manufacturers gauge factors that may influence their total cost of doing business and more clearly understand the advantages of the U.S. market, the Economic and Statistics Administration launched an updated Assess Costs Everywhere (ACE) tool during the forum. ACE, which links to public and private resources, as well as case studies, will be used across the Department of Commerce as officials work one-on-one with businesses and local governments across the country.

The United States is consistently ranked among the top destinations for investment. Earlier this month, A.T. Kearney’s annual Foreign Direct Investment Confidence Index ranked the United States as the top investment destination for the second year in a row, with the highest net positive position in the 16-year history of the index. In addition, the Boston Consulting Group found that the share of U.S. executives actively considering relocating manufacturing from China back to the United States rose to 54 percent in 2013, compared with 37 percent only 18 months earlier.

In addition to managing costs, successful manufacturing depends on the right competitive advantages, which America provides. The U.S. has one of the most skilled and productive workforces, and is making it a priority to build the skills that are in high demand. The nation also remains the most innovative place in the world, home to more than a third of total global R&D investment, as well as 15 of the top 25 leading research universities. Advanced technology, including robotics and 3-D printing, are enabling U.S. manufacturers to drastically cut time to market and make better – and more customized – products.

For more information on the benefits of investing in the U.S., visit www.selectusa.gov. To learn about advantages of manufacturing or sourcing in the United States, explore the ACE tool at http://acetool.commerce.gov/.

About SelectUSA
Housed within the U.S. Department of Commerce, SelectUSAis the U.S. government-wide program to facilitate business investment into the United States. SelectUSA assists U.S. states, counties and cities to compete for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSAalso helps investors find the information they need; connect to the right people at the local level; navigate the federal regulatory system and resolve federal issues.

About the Economics and Statistics Administration
The Economics and Statistics Administration (ESA) plays three key roles within the Department of Commerce (DOC). ESA provides timely economic analysis, disseminates national economic indicators, and oversees the U.S. Census Bureau (Census) and the Bureau of Economic Analysis (BEA). ESA’s expert economists and analysts produce in-depth reports, fact sheets, and briefings on policy issues and current economic events. DOC and White House policymakers rely on these tools, as do American businesses, state and local governments, and news organizations around the world.

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,

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]

Repsol has presented new Sustainability Plans for its Cartagena, Puertollano, Tarragona and La Coruña industrial complexes, which add to those already in place in Spain and Portugal, Bolivia, Ecuador, the USA, Peru, Venezuela, Brazil and Colombia. With the innovative approach of these plans, the company aims to maximise its contribution to sustainable development.

Repsol’s Sustainability Plans aim to identify and provide formal and systematic responses to the company’s stakeholders, in this case, in the vicinity of the company’s industrial complexes. They involve a change of concept and a major innovation in terms of corporate responsibility, on account of the methodology used to develop them.

Like those already existing, the plans that have been developed for the industrial complexes respond to the expectations and concerns of the communities and surrounding areas, and have been drawn up using a series of surveys to identify expectations, which include more than 100 interviews with representatives of stakeholders interested in the company’s activities, such as customers, suppliers, NGOs, universities, regulators, neighbourhood associations and partners, as well as perception surveys which are conducted periodically in the areas surrounding the complexes.

After identifying the expectations of these stakeholders, an analysis was carried out by the Complex management committee, based on which each centre adopted a number of specific, short-term actions, grouped into different programmes linked to fundamental corporate responsibility issues related to the company’s activity in each industrial complex. Overall, some 150 specific, short-term actions have been established that are related to various aspects of sustainable development, such as human rights, governance, environment, community development, etc.

The company also involves its workers in its commitment to corporate responsibility, on average; more than 90% of the actions included in these plans are linked to the company’s variable remuneration system.

Just as it does with all of its Sustainability Plans, Repsol will update these plans every year with new actions, after once again comparing the concerns and expectations of its stakeholders with the company’s performance. It will also publicise its degree of compliance with the actions established for each complex.

With this new approach, Repsol is reinforcing its vision of corporate responsibility, which it is voluntarily implementing, beyond existing legal requirements. Key to developing the Sustainability Plans has been the involvement of the company’s senior executives, who have formally and systematically incorporated the expectations of Repsol’s stakeholders into their decision-making processes.

The work being carried out by Repsol in relation to sustainability has been recognised on numerous occasions. The company appears in the most highly-regarded international corporate responsibility rankings, such as the Dow Jones Sustainability Index, in which the company has been sector leader for two consecutive years.

This news is courtesy of www.repsol.com

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

London/Rotterdam. Unilever announced today that all its factories across Europe have joined those in North America in achieving zero non-hazardous waste to landfill. With similar achievements in countries from Argentina to Indonesia, it means more than three-quarters of the company’s global factory network no longer sends such waste to landfill, up from 20% just three years ago.

Under the Unilever Sustainable Living Plan, by 2020 total waste sent for disposal will be below 2008 levels, despite growing the business significantly. Achieving zero non-hazardous waste from factories is a key element of this target. The achievement to date has been made possible with minimal need for capital expenditure and has avoided cumulative disposal costs of more than €17 million. On 28 April this year, the Unilever Sustainable Living Report 2013 will be published, and it will confirm that Unilever has reduced total waste sent for disposal by 66% per tonne of production since 2008.

Pier Luigi Sigismondi, Unilever Chief Supply Chain Officer, said: “We have seen a rapid acceleration in converting the network to zero waste. In 2010, 52 sites were there. We have now reached 200 sites. We are on track to hit our revised target of 100% of sites by 2015, five years ahead of the original 2020 target. I am proud of the team effort which has got us to this milestone.”
Sigismondi added that a focus on eliminating waste from manufacturing processes in North America, Europe, the majority of Latin America and a number of other countries has brought the final goal firmly in sight, adding that two key factors could be identified for this success:
1. Reducing waste at source was identified early on as a game changer when the campaign began in 2010.
100% Zero Non-Hazardous Waste to Landfill has been achieved at all European sites through the application of the “three Rs” principle: reduce, reuse and recycle. Where solid waste cannot be eliminated, reused or recycled, it is sent for energy recovery instead of to a landfill. Some examples include:
St Dizier, France – ice cream waste separated from packaging via a screw compressor, and passed on to create biogas. This resulted in a saving of €50, 000 per annum.
Leeds, UK – upgraded the Effluent Treatment Plant so that they could send over 1,000 tonnes of effluent to be used as a fertiliser for professional football pitch turf, saving over £35, 000 per annum.

2. Creating a mindset for change across the entire network.
Unilever’s Tortuguitas site in Argentina was the second largest waste generating site in the company, yet the factory leadership team remained convinced they could achieve their target of sending zero non-hazardous waste to landfill in 2013.
Working with managers across the site, the Factory Director helped create a zero mindset which spread across the entire factory encouraging them to reach their goal. They formed “Green Teams” – groups of employees given specific responsibility for generating eco-efficiency ideas and creating projects to eliminate and reduce waste generation.

The zero mindset rapidly spread across Tortuguitas to encompass the way the site works with local suppliers. Supported by the unique Global CapEx fund “Small Action Big Difference” for sustainability projects, the Argentinean team developed product recovery equipment on their production lines This project alone has resulted in 88 tonnes per year of recovered product and €35,000 costs avoided, all within a one year payback period.
The intention now is to spread this knowledge across the remaining factories. The Environmental Coordinator from the Africa cluster has recently visited Tortuguitas to learn about the best practices. This knowledge will then be used to help make the necessary changes in helping all African factories achieve zero non-hazardous waste to landfill.

This news is courtesy of www.unilever.com

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, 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

Orlando, Fla. – Walmart, the Walmart Foundation and the United States Conference of Mayors (USCM) today launched the Walmart U.S. Manufacturing Innovation Fund. Eligible non-profit organizations can apply for grants of $100,000 or more, funded by the Walmart Foundation, to help create solutions to challenges many companies face with on-shoring and growing U.S. manufacturing.

The first year of the initiative will focus on innovation in textiles manufacturing and common manufacturing processes that apply to a broad range of consumer goods, including small motor manufacturing and tooling for injection molding. Anticipated participating organizations include research and academic institutions, think tanks and other non-profit entities focused on innovations in manufacturing.

“Through the Walmart U.S. Manufacturing Innovation Fund, we hope to help remove the barriers to revitalizing and growing U.S. manufacturing, creating jobs and building a stronger American economy,” said Cindi Marsiglio, vice president of U.S. sourcing and domestic manufacturing for Walmart. “This is part of Walmart and the Walmart Foundation’s broader commitment to foster new ideas and jobs to promote strong communities and grow America’s manufacturing footprint.”

Today’s announcement is part of Walmart’s commitment to buy an additional $250 billion in products that support American manufacturing. It represents a significant investment to accelerate U.S. manufacturing and create American jobs. The Boston Consulting Group estimates the initiative will add 1 million jobs in the United States.

“The U.S. Conference of Mayors is committed to helping bring manufacturing jobs back to America’s cities, and our partnership with Walmart and the Walmart Foundation will strengthen our metro economies that drive the national economy,” said Tom Cochran, USCM CEO and executive director.

Applications are due April 22, 2014. Selected proposals will receive grants ranging from $100,000 and above for award periods of at least one year, with the option of reapplying for continued funding. Each applicant will need sponsorship from the mayor of a USCM member city.

For more information and to apply for a grant please visit www.usmanufacturingfund.com. Learn more from Cindi Marsiglio. And join the conversation @WalmartNewsroom.

About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere — in retail stores, online, and through their mobile devices. Each week, more than 245 million customers and members visit our 10,942 stores under 71 banners in 27 countries and ecommerce websites in 10 countries. With fiscal year 2014 sales of over $473 billion, Walmart employs more than 2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com

About Philanthropy at Walmart
Walmart and the Walmart Foundation are committed to helping people live better through philanthropic efforts. By operating globally and giving back locally, Walmart is uniquely positioned to address the needs of the communities it serves and make a significant social impact within its core areas of giving: Hunger Relief & Healthy Eating, Sustainability, Career Opportunity and Women’s Economic Empowerment. Walmart and the Walmart Foundation are leading the fight against hunger in the United States with a $2 billion commitment through 2015. Walmart has donated more than 1 billion meals to those in need across the country. To learn more about Walmart’s giving, visit foundation.walmart.com.

About The U.S. Conference of Mayors
The United States Conference of Mayors is the official non-partisan organization of cities with populations of 30,000 or more. There are nearly 1,400 such cities in the country today. Each city is represented in the Conference by its chief elected official, the mayor. The primary roles of the Conference are to promote the development of effective national urban/suburban policy; strengthen federal-city relationships; ensure that federal policy meets urban needs; provide mayors with leadership and management tools; and create a forum in which mayors can share ideas and information. www.usmayors.org

This news is courtesy of www.walmart.com

NORCROSS, Ga., March 3, 2014 (GLOBE NEWSWIRE) — RockTenn and Simpson Lumber Company LLC announced today an agreement whereby RockTenn will acquire the Simpson Tacoma Kraft Paper Mill located in Tacoma, Wash., for approximately $343 million. The purchase price reflects an EBITDA multiple of less than six times based on the mill’s financial results for the 12 months ending December 2013 and the expected operating efficiencies, primarily due to the location of the mill on the West Coast. The transaction is structured as an asset purchase.

In 2013, the mill produced 465,000 tons on two paper machines and two pulp dryers that made various paper grades including containerboard, specialty kraft paper and pulp. The Tacoma Kraft Mill operates a 55-megawatt green biomass fuel cogeneration facility that was completed in 2009 and sells electricity under a long-term contract.

RockTenn has committed to invest $60 million in the mill during the next three years and has also entered into a 7-year wood chip supply contract with Simpson Lumber Company.

“The Tacoma Kraft Mill is a great strategic fit for RockTenn,” said Steve Voorhees, RockTenn’s Chief Executive Officer. “Adding a West Coast mill will improve our ability to satisfy West Coast customers and generate significant operating efficiencies across our system.”

“We look forward to working with the entire Simpson team to build on the fine relationships they have developed over the years with the Tacoma Kraft Mill’s customers, as well as enhancing the satisfaction of RockTenn’s customers in the western United States,” said Jim Porter, President of RockTenn’s Corrugated Packaging segment.

“This is exciting news for Tacoma Kraft employees and the community. The Tacoma Kraft Mill will be better positioned as part of RockTenn – a successful fiber-based company that is committed to the long-term success of the mill,” said Allan Trinkwald, President, Simpson Lumber Company LLC.

The transaction is subject to customary closing conditions and regulatory approvals.

About RockTenn

RockTenn (NYSE:RKT) is one of North America’s leading integrated manufacturers of corrugated and consumer packaging. RockTenn’s 26,000 employees are committed to exceeding their customers’ expectations – every time. The company operates locations in the United States, Canada, Mexico, Chile and Argentina. For more information, visit www.rocktenn.com.

About Simpson Lumber Company

Simpson Lumber Company’s roots in the forest products business began in 1890. Simpson Lumber converts logs into lumber at production facilities in Tacoma, Shelton and Longview, Wash.; Meldrim, Ga.; and Georgetown, S.C. The company also has a subsidiary: Simpson Door Company in McCleary, Wash.

This Press Release is courtesy of www.rocktenn.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

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