Cooper Focusing on Continuing to Build its Business
FINDLAY, Ohio - Tuesday, December 31st 2013 [ME NewsWire]
(BUSINESS WIRE) Cooper Tire & Rubber Company (NYSE:CTB) today announced it has terminated the merger agreement with Apollo Tyres (NSE:ApolloTYRE).
“It is time to move our business forward,” said Cooper Chairman, Chief Executive Officer and President Roy Armes. “While the strategic rationale for a business combination with Apollo is compelling, it is clear that the merger agreement both companies signed on June 12 will not be consummated by Apollo and we have been notified that financing for the transaction is no longer available. The right thing for Cooper now is to focus on continuing to build our business.”
“Our business model is strong, and despite the challenges this year, we are coming off record operating profit through the first half of the year and expect to continue to be profitable for the second half, ending the year with a strong balance sheet. We look forward to continuing to execute on our strategy in 2014, and we have a very strong base from which to do this—brands that are respected for quality, a loyal customer base, a flexible global network of manufacturing facilities, a skilled workforce, and top technical capabilities,” Armes said.
“Addressing the situation at Cooper Chengshan Tire (CCT) in Rongcheng, China is our top priority in the near term. The issues at CCT were driven by the merger agreement, and with the agreement now terminated, Cooper is working independently to restore normal operations at CCT, including obtaining the information needed for Cooper to resume regular financial reporting as soon as possible. Once the situation at CCT is resolved and regular financial reporting has resumed, Cooper will be in a position to address additional options for the deployment of capital targeted at returning value for our stockholders,” he added.
“While Cooper believes Apollo has breached the merger agreement, and we will continue to pursue the legal steps necessary to protect the interests of our company and our stockholders, our focus will be squarely on our business and moving it forward,” he concluded.
Cooper Management Webcast for Investors Today at 9 a.m. EST Cooper management will deliver a statement addressing matters in this announcement on a webcast at 9 a.m. EST today, December 30. The webcast may be accessed at http://www.media-server.com/m/p/ddpcvybw or at the company’s investor relations website at http://coopertire.com/investors.aspx. The webcast will be archived for 30 days.
About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company is the parent company of a global family of companies that specialize in the design, manufacture, marketing, and sales of passenger car and light truck tires. Cooper has joint ventures, affiliates and subsidiaries that also specialize in medium truck, motorcycle and racing tires. Cooper's headquarters is in Findlay, Ohio, with manufacturing, sales, distribution, technical and design facilities within its family of companies located in 11 countries around the world. For more information on Cooper Tire, visit www.coopertire.com, www.facebook.com/coopertire or www.twitter.com/coopertire.
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not based on historical facts but instead reflect Cooper’s expectations, estimates or projections concerning future results or events. These statements generally can be identified by the use of forward-looking words or phrases such as “believe,” “expect,” “anticipate,” “project,” “may,” “could,” “intend,” “intent,” “belief,” “estimate,” “plan,” “likely,” “will,” “should” or similar words or phrases. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results, performance or achievements to differ materially from those expressed or indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved.
The forward-looking statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances.
Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: volatility in raw material and energy prices, including those of rubber, steel, petroleum based products and natural gas and the unavailability of such raw materials or energy sources; the failure of Cooper’s suppliers to timely deliver products in accordance with contract specifications; changes in economic and business conditions in the world; failure to implement information technologies or related systems, including failure by Cooper to successfully implement an ERP system; increased competitive activity including actions by larger competitors or lower-cost producers; the failure to achieve expected sales levels; changes in Cooper’s customer relationships, including loss of particular business for competitive or other reasons; litigation brought against Cooper, including products liability claims, which could result in material damages against Cooper; changes to tariffs or the imposition of new tariffs or trade restrictions; changes in pension expense and/or funding resulting from investment performance of Cooper’s pension plan assets and changes in discount rate, salary increase rate, and expected return on plan assets assumptions, or changes to related accounting regulations; government regulatory and legislative initiatives including environmental and healthcare matters; volatility in the capital and financial markets or changes to the credit markets and/or access to those markets; changes in interest or foreign exchange rates; an adverse change in Cooper’s credit ratings, which could increase borrowing costs and/or hamper access to the credit markets; the risks associated with doing business outside of the United States; the failure to develop technologies, processes or products needed to support consumer demand; technology advancements; the inability to recover the costs to develop and test new products or processes; the impact of labor problems, including labor disruptions at Cooper or at one or more of its large customers or suppliers; failure to attract or retain key personnel; consolidation among competitors or customers; inaccurate assumptions used in developing Cooper’s strategic plan or operating plans or the inability or failure to successfully implement such plans; failure to successfully integrate acquisitions into operations or their related financings may impact liquidity and capital resources; the impact of labor disruptions and changes in Cooper’s relationship with joint-venture partners, including with respect to the Cooper Chengshan (Shandong) Tire Company Ltd. joint venture; the inability to obtain and maintain price increases to offset higher production or material costs; inability to adequately protect Cooper’s intellectual property rights; inability to use deferred tax assets; the ultimate outcome of legal actions brought by Cooper against wholly-owned subsidiaries of Apollo Tyres Ltd. related to the proposed acquisition of Cooper by Apollo; and other factors that are set forth in management’s discussion and analysis of Cooper’s most recently filed reports with the SEC. This list of factors is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.
Contacts
Cooper Media:
Anne Roman, +1 419-429-7189
alroman@coopertire.com
Cooper Investors:
+1 419-424-4165
investorrelations@coopertire.com
Permalink: http://www.me-newswire.net/news/9607/en
Tuesday, December 31, 2013
Monday, December 30, 2013
ZTE Deploys 4G LTE Network for Aircel
SHENZHEN, China - Tuesday, December 31st 2013 [ME NewsWire]
(BUSINESS WIRE)-- ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment, network solutions and mobile devices, today announced it has entered into an agreement with Aircel, the leading telecom service provider in India, to deploy its 4G LTE network. The deployment helps Aircel boost its enterprise and retail business.
In the first stage, the LTE deployment will be initiated in Chennai, Rest of Tamil Nadu (RoTN) and few other business critical circles. This announcement comes at a time when ZTE completes the migration of Aircel’s data services to ZTE’s 4G LTE evolved packet core for Chennai and ROTN circles.
“We are happy to partner with Aircel to rollout their 4G LTE network in India. We are fully committed to planning, designing, supplying and deploying state of the art LTE ecosystem which will help Aircel offer unprecedented experience to their customers,” says Mr. Xu Dejun, CEO, ZTE India. “This alliance has allowed ZTE to further cement our position as the partner of choice for telecom operators in the country in developing and maintaining their LTE ecosystem. This partnership also fits into our long term vision of developing sustainable LTE network in India. In the initial phase of our rollout, we aim to offer our customers with the highest data speed of 65 Mbps in the country.”
“As a leading data player in the country, we have always believed in the potential of 4G LTE as a technology. We believe that data is the growth engine of the future and a cutting edge technology such as 4G LTE has the ability to empower consumers like never before. The huge demand for internet enabled devices, such as smartphones and tablets among the largely young population, along with increase in consumption of data on internet and rising demand for content are some of the factors fuelling the exponential growth in data,” says Mr. Anupam Vasudev, CMO, Aircel. “We are happy to partner with ZTE for the deployment of our 4G LTE Networks in India. With this association, we are confident in delivering ‘next-generation’ networks, critical to meet the growing demand of data in the country.”
ZTE has enjoyed a long term relationship with Aircel since 2008 supporting the 2G-3G rollout in three circles of the north zone and played a key role in the launch of the Next Generation Networks (NGN) for Pan India. The EPC deployment in the south zones further strengthens the partnership and enables Aircel to provide high capacity and capability solutions with access agnostic functions for 2G, 3G and 4G LTE services.
ZTE is a leader in developing LTE technologies and has applied for 815 essential patents (EPs) for LTE standards, which account for approximately 13 percent of the total number of EP applications globally. The company offers a full range of LTE base stations, including widely distributed macro stations. It has won 65 contracts for LTE commercial application and has deployed test networks in cooperation with more than 140 operators across the globe.
About ZTE
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals, Enterprise, IT and Cloud Computing and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 160 countries, helping them to meet the changing needs of their customers while growing revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Edelman PR
Mark Lee / Andres Vejarano, +852 2837 4756 / 2837 4735
mark.lee@edelman.com / andres.vejarano@edelman.com
Permalink: http://www.me-newswire.net/news/9609/en
(BUSINESS WIRE)-- ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment, network solutions and mobile devices, today announced it has entered into an agreement with Aircel, the leading telecom service provider in India, to deploy its 4G LTE network. The deployment helps Aircel boost its enterprise and retail business.
In the first stage, the LTE deployment will be initiated in Chennai, Rest of Tamil Nadu (RoTN) and few other business critical circles. This announcement comes at a time when ZTE completes the migration of Aircel’s data services to ZTE’s 4G LTE evolved packet core for Chennai and ROTN circles.
“We are happy to partner with Aircel to rollout their 4G LTE network in India. We are fully committed to planning, designing, supplying and deploying state of the art LTE ecosystem which will help Aircel offer unprecedented experience to their customers,” says Mr. Xu Dejun, CEO, ZTE India. “This alliance has allowed ZTE to further cement our position as the partner of choice for telecom operators in the country in developing and maintaining their LTE ecosystem. This partnership also fits into our long term vision of developing sustainable LTE network in India. In the initial phase of our rollout, we aim to offer our customers with the highest data speed of 65 Mbps in the country.”
“As a leading data player in the country, we have always believed in the potential of 4G LTE as a technology. We believe that data is the growth engine of the future and a cutting edge technology such as 4G LTE has the ability to empower consumers like never before. The huge demand for internet enabled devices, such as smartphones and tablets among the largely young population, along with increase in consumption of data on internet and rising demand for content are some of the factors fuelling the exponential growth in data,” says Mr. Anupam Vasudev, CMO, Aircel. “We are happy to partner with ZTE for the deployment of our 4G LTE Networks in India. With this association, we are confident in delivering ‘next-generation’ networks, critical to meet the growing demand of data in the country.”
ZTE has enjoyed a long term relationship with Aircel since 2008 supporting the 2G-3G rollout in three circles of the north zone and played a key role in the launch of the Next Generation Networks (NGN) for Pan India. The EPC deployment in the south zones further strengthens the partnership and enables Aircel to provide high capacity and capability solutions with access agnostic functions for 2G, 3G and 4G LTE services.
ZTE is a leader in developing LTE technologies and has applied for 815 essential patents (EPs) for LTE standards, which account for approximately 13 percent of the total number of EP applications globally. The company offers a full range of LTE base stations, including widely distributed macro stations. It has won 65 contracts for LTE commercial application and has deployed test networks in cooperation with more than 140 operators across the globe.
About ZTE
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals, Enterprise, IT and Cloud Computing and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 160 countries, helping them to meet the changing needs of their customers while growing revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Edelman PR
Mark Lee / Andres Vejarano, +852 2837 4756 / 2837 4735
mark.lee@edelman.com / andres.vejarano@edelman.com
Permalink: http://www.me-newswire.net/news/9609/en
Saturday, December 28, 2013
Skybox Imaging Captures World’s First High-Resolution, HD Video of Earth from Space
MOUNTAIN VIEW, Calif - Friday, December 27th 2013 [ME NewsWire]
(BUSINESS WIRE) Skybox Imaging (Skybox) announced today the release of the world’s first high-resolution, high-definition video of Earth taken by a commercial remote sensing satellite. These videos were taken by SkySat-1, the first of Skybox’s planned constellation of 24 satellites, and showcase high-resolution views of Tokyo, Bangkok, Baltimore, Las Vegas, and Aleppo, Syria. The video clips have not yet been calibrated or tuned.
SkySat-1 captures up to 90-second video clips at 30 frames per second. The resolution is high enough to view objects like shipping containers that impact the global economy while maintaining a level of clarity that does not determine human activity. To watch the video in 1080p HD resolution, please view on Skybox’s YouTube channel here.
SkySat-1 also captures some of the highest quality color imagery of any commercial satellite and is capable of sub-meter native color and near-infrared imagery.
“The most revolutionary fact is that SkySat-1 was built and launched for more than an order of magnitude less cost than traditional sub-meter imaging satellites,” said Tom Ingersoll, CEO of Skybox. “This extremely high performance satellite is made possible by proprietary technologies developed by Skybox, including the integrated satellite and imaging systems designs, which enable Skybox to launch a constellation of satellites that can provide imagery timeliness, quality and dependability that was never before possible.”
The business applications for satellite imagery and now, dynamic satellite video, are innumerable – ranging from supply chain monitoring to maritime awareness, industrial plant activity monitoring to environmental and humanitarian relief monitoring.
“This is an important inflection point for the remote sensing industry and for businesses of all sizes around the globe,” said Dan Berkenstock, co-founder and chief product officer of Skybox. “This milestone demonstrates that high-quality, high-resolution imagery can now be delivered in a timely, accessible and affordable way. By leveraging Silicon Valley web technologies, we’re pioneering a data platform that is leading a new generation of applications for the global markets of today and for new markets yet to be realized.”
Skybox has raised $91 million from Khosla Ventures, Bessemer Venture Partners, Canaan Partners and Norwest Venture Partners.
SkySat-2, an identical version of SkySat-1, is scheduled to launch in early 2014. More unique capabilities based on Skybox’s proprietary technologies will be announced in the near future.
For the latest news, please visit Skybox’s blog. For a gallery of images and video taken from SkySat-1, please go here.
About Skybox Imaging
Skybox Imaging empowers global businesses to make better decisions with timely, high fidelity imagery and infinite analytics. By combining the power of web technologies and a constellation of high-resolution imaging satellites, Skybox is generating a unique data source describing daily global activity with timely, accessible, sub-meter color imagery and high definition video of the Earth. Founded in 2009, Skybox Imaging is backed by leading venture firms and comprised of Internet and aerospace professionals. For more information, visit www.skybox.com.
Contacts
The OutCast Agency
Sara Blask, +1-415-345-4745
skybox@theoutcastagency.com
(BUSINESS WIRE) Skybox Imaging (Skybox) announced today the release of the world’s first high-resolution, high-definition video of Earth taken by a commercial remote sensing satellite. These videos were taken by SkySat-1, the first of Skybox’s planned constellation of 24 satellites, and showcase high-resolution views of Tokyo, Bangkok, Baltimore, Las Vegas, and Aleppo, Syria. The video clips have not yet been calibrated or tuned.
SkySat-1 captures up to 90-second video clips at 30 frames per second. The resolution is high enough to view objects like shipping containers that impact the global economy while maintaining a level of clarity that does not determine human activity. To watch the video in 1080p HD resolution, please view on Skybox’s YouTube channel here.
SkySat-1 also captures some of the highest quality color imagery of any commercial satellite and is capable of sub-meter native color and near-infrared imagery.
“The most revolutionary fact is that SkySat-1 was built and launched for more than an order of magnitude less cost than traditional sub-meter imaging satellites,” said Tom Ingersoll, CEO of Skybox. “This extremely high performance satellite is made possible by proprietary technologies developed by Skybox, including the integrated satellite and imaging systems designs, which enable Skybox to launch a constellation of satellites that can provide imagery timeliness, quality and dependability that was never before possible.”
The business applications for satellite imagery and now, dynamic satellite video, are innumerable – ranging from supply chain monitoring to maritime awareness, industrial plant activity monitoring to environmental and humanitarian relief monitoring.
“This is an important inflection point for the remote sensing industry and for businesses of all sizes around the globe,” said Dan Berkenstock, co-founder and chief product officer of Skybox. “This milestone demonstrates that high-quality, high-resolution imagery can now be delivered in a timely, accessible and affordable way. By leveraging Silicon Valley web technologies, we’re pioneering a data platform that is leading a new generation of applications for the global markets of today and for new markets yet to be realized.”
Skybox has raised $91 million from Khosla Ventures, Bessemer Venture Partners, Canaan Partners and Norwest Venture Partners.
SkySat-2, an identical version of SkySat-1, is scheduled to launch in early 2014. More unique capabilities based on Skybox’s proprietary technologies will be announced in the near future.
For the latest news, please visit Skybox’s blog. For a gallery of images and video taken from SkySat-1, please go here.
About Skybox Imaging
Skybox Imaging empowers global businesses to make better decisions with timely, high fidelity imagery and infinite analytics. By combining the power of web technologies and a constellation of high-resolution imaging satellites, Skybox is generating a unique data source describing daily global activity with timely, accessible, sub-meter color imagery and high definition video of the Earth. Founded in 2009, Skybox Imaging is backed by leading venture firms and comprised of Internet and aerospace professionals. For more information, visit www.skybox.com.
Contacts
The OutCast Agency
Sara Blask, +1-415-345-4745
skybox@theoutcastagency.com
Thursday, December 26, 2013
Panasonic Has Launched a "Cut Out the Darkness" Project to Deliver Solar Lanterns and Shades to Non-Electrified Regions Based on the Designs Contributed from All over the World
ME NewsWire / Business Wire
OSAKA, Japan - Thursday, December 26th 2013
As well as thrusting the “100 Thousand Solar Lanterns Project” to donate a total of 100 thousand solar lanterns to the regions without electricity by 2018, the company’s centennial, Panasonic Corporation (TOKYO:6752) has launched “Cut Out the Darkness,” a project to deliver solar lanterns and shades based on designs contributed by participants to homes and schools in the non-electrified regions. The company seeks to involve people around the world in the project and to make those participants aware of issues in the regions without electricity.
Currently, about 1.32 billion people are without access to electricity worldwide, and many homes in the regions use kerosene lamps for lighting, but the fire and smoke from these lamps pose serious fire and health risks. Unable to get sufficient light, there are also significant restrictions as to what people can do at night. The lack of electric lighting in the regions means significant challenges in the areas of health, education, and the economy. However, solar lanterns enable users to charge electricity during the daytime, save it in the secondary battery, and use the electricity for lighting at night, thus helping to solve social issues in non-electrified regions by curbing fire and health risks, and emission of CO2 by kerosene lamps.
The “Cut Out the Darkness” project website offers its own unique application that enables users to design a cutout and see a virtual shade image on-screen while working on the design. When finishing the design, the design can be submitted online, and displayed in the “Design Archives.” Based on a popularity poll by site visitors, the best 100 shade designs are chosen and fabricated by laser cutter into lantern shades true to the original cutout designs. Moreover, original designs contributed by eleven globally acclaimed paper-cut artists, who are supporting the project, are also showcased on the site and made into lantern shades. Solar lanterns and shades, including those made from selected designs by a popularity poll and from designs contributed by paper-cut artists, are delivered to homes and schools in non-electrified regions.
The “Cut Out the Darkness” project allows people around the world to participate easily, because the entire process from design to submission is completed online. We cordially hope people around the world recognize the challenges in non-electrified regions, and show favor and support to Panasonic’s “100 Thousand Solar Lantern Project” by participating in the “Cut Out the Darkness” project.
The progress of the project will be reported and updated regularly on the project website, and the “100 Thousand Solar Lanterns Project” Facebook page.
Related Websites “Cut Out the Darkness” project website Introduction Video 100 Thousand Solar Lanterns Project Facebook page Panasonic’s Sustainability
Project Details [Schedule](Provisional) *Time/dates in JST December 20, 2013 to the end of March, 2014
[Timeline of Events] 1. December 20, 2013 The project website launched and the promotional introduction movie released.
2. December 20, 2013, to late January, 2014 (provisional) The project website will start to accept shade design contributions and a popularity poll. *In some circumstances the duration of the popularity poll may be extended.
3. From the middle to the end of February, 2014 The best 100 designs will be selected based upon the popularity poll and fabricated as shades for solar lanterns.
4. From the end of February to the middle of March, 2014 A total of 100 fabricated shades and solar lanterns will be transported from Japan and donated to people at locations in non-electrified regions. (Donation recipients are being selected and will be announced on the project website and the “100 Thousand Solar Lanterns Project” Facebook page as soon as they are determined.)
5. From the middle to the end of March, 2014 A promotional documentary movie, summarizing the process and progress of the project, will be released after donation of the shades and lanterns. *The progress of the project will be reported on the “100 Thousand Solar Lanterns Project” Facebook page.
Contacts
COTD Project Office (Ozma PR Kasai Branch):
phone: +81-6-6205-9800 (Japanese only)
e-mail: cotd_press@ozma.co.jp (Japanese and English only)
Open: December 20, 2013 to January 31, 2014 on weekdays from 10 am to 18 pm (Not available on Saturdays and holidays including the period from December 28, 2013 to January 5, 2014)
Permalink: http://www.me-newswire.net/news/9578/en
OSAKA, Japan - Thursday, December 26th 2013
As well as thrusting the “100 Thousand Solar Lanterns Project” to donate a total of 100 thousand solar lanterns to the regions without electricity by 2018, the company’s centennial, Panasonic Corporation (TOKYO:6752) has launched “Cut Out the Darkness,” a project to deliver solar lanterns and shades based on designs contributed by participants to homes and schools in the non-electrified regions. The company seeks to involve people around the world in the project and to make those participants aware of issues in the regions without electricity.
Currently, about 1.32 billion people are without access to electricity worldwide, and many homes in the regions use kerosene lamps for lighting, but the fire and smoke from these lamps pose serious fire and health risks. Unable to get sufficient light, there are also significant restrictions as to what people can do at night. The lack of electric lighting in the regions means significant challenges in the areas of health, education, and the economy. However, solar lanterns enable users to charge electricity during the daytime, save it in the secondary battery, and use the electricity for lighting at night, thus helping to solve social issues in non-electrified regions by curbing fire and health risks, and emission of CO2 by kerosene lamps.
The “Cut Out the Darkness” project website offers its own unique application that enables users to design a cutout and see a virtual shade image on-screen while working on the design. When finishing the design, the design can be submitted online, and displayed in the “Design Archives.” Based on a popularity poll by site visitors, the best 100 shade designs are chosen and fabricated by laser cutter into lantern shades true to the original cutout designs. Moreover, original designs contributed by eleven globally acclaimed paper-cut artists, who are supporting the project, are also showcased on the site and made into lantern shades. Solar lanterns and shades, including those made from selected designs by a popularity poll and from designs contributed by paper-cut artists, are delivered to homes and schools in non-electrified regions.
The “Cut Out the Darkness” project allows people around the world to participate easily, because the entire process from design to submission is completed online. We cordially hope people around the world recognize the challenges in non-electrified regions, and show favor and support to Panasonic’s “100 Thousand Solar Lantern Project” by participating in the “Cut Out the Darkness” project.
The progress of the project will be reported and updated regularly on the project website, and the “100 Thousand Solar Lanterns Project” Facebook page.
Related Websites “Cut Out the Darkness” project website Introduction Video 100 Thousand Solar Lanterns Project Facebook page Panasonic’s Sustainability
Project Details [Schedule](Provisional) *Time/dates in JST December 20, 2013 to the end of March, 2014
[Timeline of Events] 1. December 20, 2013 The project website launched and the promotional introduction movie released.
2. December 20, 2013, to late January, 2014 (provisional) The project website will start to accept shade design contributions and a popularity poll. *In some circumstances the duration of the popularity poll may be extended.
3. From the middle to the end of February, 2014 The best 100 designs will be selected based upon the popularity poll and fabricated as shades for solar lanterns.
4. From the end of February to the middle of March, 2014 A total of 100 fabricated shades and solar lanterns will be transported from Japan and donated to people at locations in non-electrified regions. (Donation recipients are being selected and will be announced on the project website and the “100 Thousand Solar Lanterns Project” Facebook page as soon as they are determined.)
5. From the middle to the end of March, 2014 A promotional documentary movie, summarizing the process and progress of the project, will be released after donation of the shades and lanterns. *The progress of the project will be reported on the “100 Thousand Solar Lanterns Project” Facebook page.
Contacts
COTD Project Office (Ozma PR Kasai Branch):
phone: +81-6-6205-9800 (Japanese only)
e-mail: cotd_press@ozma.co.jp (Japanese and English only)
Open: December 20, 2013 to January 31, 2014 on weekdays from 10 am to 18 pm (Not available on Saturdays and holidays including the period from December 28, 2013 to January 5, 2014)
Permalink: http://www.me-newswire.net/news/9578/en
Wednesday, December 25, 2013
IUSA Mexico and EnVerv Announce Their Collaboration on a Range of Smart Meters & Related Products
Multiple Solutions, Powered by EnVerv’s Modem SoC
TOLUCA, Mexico & SAN JOSE, Calif. - Tuesday, December 24th 2013 [ME NewsWire]
(BUSINESS WIRE)-- IUSA and EnVerv announced today their collaboration on a number projects for Advanced Metering Infrastructure (AMI), revenue protection, prepaid metering and solar applications in which EnVerv’s EV8000 Power-Line Communications (PLC) modem System on Chip (SoC) constitutes the communication engine of these applications.
“We have chosen EnVerv’s technology due to its superior performance under difficult network conditions and the fact that all necessary modem components including line driver, physical layer (PHY), media access control (MAC) layer and 6LoWPAN network layer are all integrated in the EV8000 single-chip SoC,” said Eduardo Neri, Director of Engineering at IUSA. “Combined, these two distinguishing factors, in turn, allow us to offer superior products to our customers.”
“We are very excited to have IUSA as our partner,” said Reza Mirkhani, Chief Marketing Officer at EnVerv. “IUSA is the largest meter manufacturer in Mexico and offers one of the most advanced Smart Meter and Prepaid Metering solutions in the world. We believe this announcement heralds an even deeper relationship in the years to come.”
The EV8000 is a fully integrated single-chip PLC SoC and includes full modem features from line drivers all the way to the network layer and covers CENELEC-A, FCC and ARIB frequency bands without any changes to the chip or module hardware. Furthermore, the EV8000 soft-modem can be programmed to operate in ITU-T G.9903 G3-PLC or ITU-T G.9904 PRIME modes simply by downloading their respective firmware code to the chip.
About EnVerv Inc.
EnVerv is a fabless semiconductor company in the United States with headquarters in San Jose, California and offices in San Diego, Shenzhen, China and Taipei, Taiwan. EnVerv’s PLC SoC solutions enable high performance communications via Low-Voltage (LV) and Medium-Voltage (MV) power lines with the goal of providing efficient and effective communications means for Advanced Metering Infrastructure (AMI) as well as other power line-based smart control and monitoring applications. For more information please visitwww.enverv.com.
About IUSA
Established in 1939, IUSA Group is a private conglomerate of leading companies in the sectors where it participates, being one of the most important Groups in Latin America. Its tireless work contributed, to Mexico’s electrification.
It has one of the most complete business portfolios of the international market for the construction sector, including materials for the conduction, control and metering of gas, water and energy. The quality of its products has been internationally certified.
IUSA has manufactured electric meters for the national and international markets for over 40 years. Among its most recent breakthroughs is the creation of the Smart Self–Managed Metering System, that uses a smart card to measure electrical power, water and gas usage.
The system was developed to reduce and optimize financial and operating costs of utility companies and to enable improved usage control for consumers, also allowing for more flexible payment options.
IUSA’s Smart Self –managed Metering System has been internationally patented and operates basically by way of a multifunction electronic meter, and a contactless bidirectional smart card. The system allows for either pre-payment or post-payment modes. IUSA’s system is enabled to download credit or units in either a pre-payment mode or by keeping a due date when in post-payment mode. In short terms, the system can self-operate absent of external commands.
Contacts
EnVerv
Afshin Shaybani, +1-858-224-0006
afshin.shaybani@enverv.com
Permalink: http://me-newswire.net/news/9569/en
TOLUCA, Mexico & SAN JOSE, Calif. - Tuesday, December 24th 2013 [ME NewsWire]
(BUSINESS WIRE)-- IUSA and EnVerv announced today their collaboration on a number projects for Advanced Metering Infrastructure (AMI), revenue protection, prepaid metering and solar applications in which EnVerv’s EV8000 Power-Line Communications (PLC) modem System on Chip (SoC) constitutes the communication engine of these applications.
“We have chosen EnVerv’s technology due to its superior performance under difficult network conditions and the fact that all necessary modem components including line driver, physical layer (PHY), media access control (MAC) layer and 6LoWPAN network layer are all integrated in the EV8000 single-chip SoC,” said Eduardo Neri, Director of Engineering at IUSA. “Combined, these two distinguishing factors, in turn, allow us to offer superior products to our customers.”
“We are very excited to have IUSA as our partner,” said Reza Mirkhani, Chief Marketing Officer at EnVerv. “IUSA is the largest meter manufacturer in Mexico and offers one of the most advanced Smart Meter and Prepaid Metering solutions in the world. We believe this announcement heralds an even deeper relationship in the years to come.”
The EV8000 is a fully integrated single-chip PLC SoC and includes full modem features from line drivers all the way to the network layer and covers CENELEC-A, FCC and ARIB frequency bands without any changes to the chip or module hardware. Furthermore, the EV8000 soft-modem can be programmed to operate in ITU-T G.9903 G3-PLC or ITU-T G.9904 PRIME modes simply by downloading their respective firmware code to the chip.
About EnVerv Inc.
EnVerv is a fabless semiconductor company in the United States with headquarters in San Jose, California and offices in San Diego, Shenzhen, China and Taipei, Taiwan. EnVerv’s PLC SoC solutions enable high performance communications via Low-Voltage (LV) and Medium-Voltage (MV) power lines with the goal of providing efficient and effective communications means for Advanced Metering Infrastructure (AMI) as well as other power line-based smart control and monitoring applications. For more information please visitwww.enverv.com.
About IUSA
Established in 1939, IUSA Group is a private conglomerate of leading companies in the sectors where it participates, being one of the most important Groups in Latin America. Its tireless work contributed, to Mexico’s electrification.
It has one of the most complete business portfolios of the international market for the construction sector, including materials for the conduction, control and metering of gas, water and energy. The quality of its products has been internationally certified.
IUSA has manufactured electric meters for the national and international markets for over 40 years. Among its most recent breakthroughs is the creation of the Smart Self–Managed Metering System, that uses a smart card to measure electrical power, water and gas usage.
The system was developed to reduce and optimize financial and operating costs of utility companies and to enable improved usage control for consumers, also allowing for more flexible payment options.
IUSA’s Smart Self –managed Metering System has been internationally patented and operates basically by way of a multifunction electronic meter, and a contactless bidirectional smart card. The system allows for either pre-payment or post-payment modes. IUSA’s system is enabled to download credit or units in either a pre-payment mode or by keeping a due date when in post-payment mode. In short terms, the system can self-operate absent of external commands.
Contacts
EnVerv
Afshin Shaybani, +1-858-224-0006
afshin.shaybani@enverv.com
Permalink: http://me-newswire.net/news/9569/en
Menicon, Azabu University, and Yokohama City University Identify the Glaucoma Susceptibility Gene SRBD1 in Dogs
Dogs and humans share the same susceptibility gene for glaucoma
NAGOYA, Japan - Tuesday, December 24th 2013 [ME NewsWire]
(BUSINESS WIRE)-- Menicon announces that an article entitled, “Dogs and humans share a common susceptibility gene SRBD1 for glaucoma risk”, which presents the results of a study conducted by Menicon, Azabu University, and Yokohama City University (hereinafter designated as “this study”), was published in the scientific journal PLoS ONE.
Menicon conducted a joint study with Azabu University and Yokohama City University and found that Shiba Inu dogs and humans share a susceptibility gene for glaucoma. To date, several reports on normal tension glaucoma have been published, thus prompting Menicon to conduct a joint study with Yokohama City University. Menicon paid attention to the fact that the incidence of glaucoma in Shiba Inu dogs was high. Through the cooperation of Azabu University, which stores blood samples of dogs with various diseases, susceptibility genes for glaucoma of dogs were investigated. The results of the study showed that SRBD1, which was also identified in humans, was strongly associated with glaucoma.
This study revealed that the risk of glaucoma was three-fold higher in Shiba Inu dogs and five-fold higher in Shih Tzu dogs with a mutated SRBD1 gene than in Shiba Inu and Shih Tzu dogs with the normal, unmutated gene.
It is significantly rare for humans and dogs to share a susceptibility gene for a disease. The findings of this study thus provide a method for predicting the risk for developing glaucoma. Meni-One Co., Ltd., a subsidiary company of Menicon, engaged in animal ophthalmology medical care, will strive to disseminate the major findings of this study to reduce the risk of glaucoma in future generations of Shiba Inu dogs. As the Shiba Inu is a globally recognized Japanese domestic breed, the company is highly dedicated to the promotion of healthy Shiba Inu dogs worldwide through genetic testing.
Lastly, further studies involving dogs may prove useful in the research of glaucoma in humans. Menicon is hopeful that this research will generate significant contributions to society.
PLOS ONE: http://dx.plos.org/10.1371/journal.pone.0074372
Meni-One: http://meni-one.com/en
Azabu University: http://www.azabu-u.ac.jp/
Yokohama City University: http://www.yokohama-cu.ac.jp/
About Menicon
Headquartered in Nagoya, Japan, and represented in over 80 countries, Menicon Co., Ltd. is the only contact lens company in the world dedicated to every aspect of the field from material development and lens design to manufacturing of lenses and lens care solutions. Menicon offers an expanding portfolio of innovative lenses, packaging and related products that maximize user comfort and convenience. The company is also the world's largest producer of gas-permeable contact lenses.
For more information, contact Yoko Kido (presscontact@menicon-net.co.jp) and visit menicon.com
Contacts
Menicon Co., Ltd.
Yoko Kido, +81-52-935-1187
General Manager
Mecenat / PR & Secretary Dept.
Liaison & Public Relations Division
presscontact@menicon-net.co.jp
NAGOYA, Japan - Tuesday, December 24th 2013 [ME NewsWire]
(BUSINESS WIRE)-- Menicon announces that an article entitled, “Dogs and humans share a common susceptibility gene SRBD1 for glaucoma risk”, which presents the results of a study conducted by Menicon, Azabu University, and Yokohama City University (hereinafter designated as “this study”), was published in the scientific journal PLoS ONE.
Menicon conducted a joint study with Azabu University and Yokohama City University and found that Shiba Inu dogs and humans share a susceptibility gene for glaucoma. To date, several reports on normal tension glaucoma have been published, thus prompting Menicon to conduct a joint study with Yokohama City University. Menicon paid attention to the fact that the incidence of glaucoma in Shiba Inu dogs was high. Through the cooperation of Azabu University, which stores blood samples of dogs with various diseases, susceptibility genes for glaucoma of dogs were investigated. The results of the study showed that SRBD1, which was also identified in humans, was strongly associated with glaucoma.
This study revealed that the risk of glaucoma was three-fold higher in Shiba Inu dogs and five-fold higher in Shih Tzu dogs with a mutated SRBD1 gene than in Shiba Inu and Shih Tzu dogs with the normal, unmutated gene.
It is significantly rare for humans and dogs to share a susceptibility gene for a disease. The findings of this study thus provide a method for predicting the risk for developing glaucoma. Meni-One Co., Ltd., a subsidiary company of Menicon, engaged in animal ophthalmology medical care, will strive to disseminate the major findings of this study to reduce the risk of glaucoma in future generations of Shiba Inu dogs. As the Shiba Inu is a globally recognized Japanese domestic breed, the company is highly dedicated to the promotion of healthy Shiba Inu dogs worldwide through genetic testing.
Lastly, further studies involving dogs may prove useful in the research of glaucoma in humans. Menicon is hopeful that this research will generate significant contributions to society.
PLOS ONE: http://dx.plos.org/10.1371/journal.pone.0074372
Meni-One: http://meni-one.com/en
Azabu University: http://www.azabu-u.ac.jp/
Yokohama City University: http://www.yokohama-cu.ac.jp/
About Menicon
Headquartered in Nagoya, Japan, and represented in over 80 countries, Menicon Co., Ltd. is the only contact lens company in the world dedicated to every aspect of the field from material development and lens design to manufacturing of lenses and lens care solutions. Menicon offers an expanding portfolio of innovative lenses, packaging and related products that maximize user comfort and convenience. The company is also the world's largest producer of gas-permeable contact lenses.
For more information, contact Yoko Kido (presscontact@menicon-net.co.jp) and visit menicon.com
Contacts
Menicon Co., Ltd.
Yoko Kido, +81-52-935-1187
General Manager
Mecenat / PR & Secretary Dept.
Liaison & Public Relations Division
presscontact@menicon-net.co.jp
Monday, December 23, 2013
Revolution Capital Group Acquires Tvilum from Masco
LOS ANGELES - Sunday, December 22nd 2013 [ME NewsWire]
(BUSINESS WIRE)-- Revolution Capital Group announced today that it has completed an acquisition of Tvilum ApS, a subsidiary of Masco Corporation (NYSE: MAS). Masco is one of the world's leading manufacturers of home improvement and building products, with an annual revenue exceeding $7 billion in 2012. Tvilum is one of the world’s largest manufacturers of ready to assemble (RTA) products. This acquisition marks Revolution’s third acquisition of the year, and the firm’s seventh since inception.
“This is a truly global business that fits well with Revolution’s strategy to expand our portfolio into Europe. It affirms our commitment to acquire outstanding businesses and drive growth in international markets,” said Robert Loring, Founder and Managing Partner of Revolution Capital Group.
Tvilum has four state-of-the-art factories which produce 8 million items of furniture annually. Tvilum’s products are manufactured in Denmark and sold to retailers around the world. The company employs approximately 1,000 people, and was founded in 1965. The company sells its products through dealers, including large chains, independent stores, and online businesses in Africa and the Middle East, America, Asia and Oceania, and Europe.
“Tvilum is an exciting opportunity for Revolution Capital Group, and this acquisition caps off an excellent year for our firm. Heading into the new year, we look forward to helping existing management execute a growth strategy that creates long term value,” said Cyrus Nikou, Founding Partner of Revolution Capital Group.
In February, Masco Corporation announced its intent to sell Tvilum following a periodic review of its business portfolio, which determined that this business was not core to its long-term growth strategy.
About Revolution Capital Group
Revolution Capital Group was formed by a group of private equity, M&A and operational executives. The partners have worked on over $15 billion in transactions with corporations such as AT&T, BASF, Bayer, General Electric, Hays PLC, IBM, Lucent, Media General, Motorola, Universal Group and Williams Communications. Additional information is available on the company’s website www.revolutionpe.com.
About Masco Corporation
Headquartered in Taylor, Michigan, Masco Corporation is one of the world's leading manufacturers of home improvement and buildings products. Masco’s brands include Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; KraftMaid® and Merillat® cabinets; and Milgard® windows and doors, among others. Masco is also a leading provider of services that include the installation of insulation and other building products through Masco Contractor Services’ group of companies. Visit www.masco.com for more information on the Masco family of brands and its Foundation.
About Tvilum
Tvilum designs, develops, manufactures, and supplies ready to assemble furniture. The company offers furniture in the categories of living, working, sleeping, kids/teens, and kitchen/bath. It provides bookcases, beds, chairs, chests, china cabinets, desks, dining tables, nightstands, shoe cabinets, bathroom and kitchen cabinets, sideboards, small tables, wall systems, and wardrobes; and combination, lighting, media, and storage products. More detail is available at www.tvilum.com.
Contacts
Revolution Capital Group
Gary Alcock
Managing Director
310.229.0806
galcock@revolutionpe.com
Permalink: http://www.me-newswire.net/news/9559/en
(BUSINESS WIRE)-- Revolution Capital Group announced today that it has completed an acquisition of Tvilum ApS, a subsidiary of Masco Corporation (NYSE: MAS). Masco is one of the world's leading manufacturers of home improvement and building products, with an annual revenue exceeding $7 billion in 2012. Tvilum is one of the world’s largest manufacturers of ready to assemble (RTA) products. This acquisition marks Revolution’s third acquisition of the year, and the firm’s seventh since inception.
“This is a truly global business that fits well with Revolution’s strategy to expand our portfolio into Europe. It affirms our commitment to acquire outstanding businesses and drive growth in international markets,” said Robert Loring, Founder and Managing Partner of Revolution Capital Group.
Tvilum has four state-of-the-art factories which produce 8 million items of furniture annually. Tvilum’s products are manufactured in Denmark and sold to retailers around the world. The company employs approximately 1,000 people, and was founded in 1965. The company sells its products through dealers, including large chains, independent stores, and online businesses in Africa and the Middle East, America, Asia and Oceania, and Europe.
“Tvilum is an exciting opportunity for Revolution Capital Group, and this acquisition caps off an excellent year for our firm. Heading into the new year, we look forward to helping existing management execute a growth strategy that creates long term value,” said Cyrus Nikou, Founding Partner of Revolution Capital Group.
In February, Masco Corporation announced its intent to sell Tvilum following a periodic review of its business portfolio, which determined that this business was not core to its long-term growth strategy.
About Revolution Capital Group
Revolution Capital Group was formed by a group of private equity, M&A and operational executives. The partners have worked on over $15 billion in transactions with corporations such as AT&T, BASF, Bayer, General Electric, Hays PLC, IBM, Lucent, Media General, Motorola, Universal Group and Williams Communications. Additional information is available on the company’s website www.revolutionpe.com.
About Masco Corporation
Headquartered in Taylor, Michigan, Masco Corporation is one of the world's leading manufacturers of home improvement and buildings products. Masco’s brands include Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; KraftMaid® and Merillat® cabinets; and Milgard® windows and doors, among others. Masco is also a leading provider of services that include the installation of insulation and other building products through Masco Contractor Services’ group of companies. Visit www.masco.com for more information on the Masco family of brands and its Foundation.
About Tvilum
Tvilum designs, develops, manufactures, and supplies ready to assemble furniture. The company offers furniture in the categories of living, working, sleeping, kids/teens, and kitchen/bath. It provides bookcases, beds, chairs, chests, china cabinets, desks, dining tables, nightstands, shoe cabinets, bathroom and kitchen cabinets, sideboards, small tables, wall systems, and wardrobes; and combination, lighting, media, and storage products. More detail is available at www.tvilum.com.
Contacts
Revolution Capital Group
Gary Alcock
Managing Director
310.229.0806
galcock@revolutionpe.com
Permalink: http://www.me-newswire.net/news/9559/en
Sunday, December 22, 2013
Panda Power Funds Finances Second Pennsylvania Power Project
ME Newswire / Business Wire
DALLAS - Sunday, December 22nd 2013
Plant expected to make a significant contribution to area economy; create 500 jobs
Second new plant located on the Marcellus Shale gas formation
Goldman Sachs, Credit Suisse, Ares Capital, Union Bank and Investec arranged debt financing
Natural gas-fueled generating station will power up to 1 million homes
Gemma-Lane Patriot Partners to build plant with Siemens Energy technology
Panda Power Funds today announced that it has completed the acquisition and successful financing of Moxie Energy’s planned 829-MW natural gas-fueled, combined-cycle “Patriot” generating station, located in Lycoming County, Pennsylvania. When completed, the Patriot project will be the second new power plant in the Keystone State — after Panda’s “Liberty” power plant — specifically developed to take advantage of its proximity to the Marcellus Shale. Panda will immediately start construction on the 85-acre site and expects commercial operations to begin by the middle of 2016.
Goldman Sachs, Credit Suisse, Ares Capital, Union Bank and Investec acted as joint lead arrangers for the senior debt financing of the plant. Panda Patriot raised debt capital totaling $651.5 million. Panda Liberty, financed in August of this year, raised debt capital totaling $627 million. The Patriot transaction marks the fifth financing of a large-scale power facility by Panda Power Funds in 17 months. The fund is supplying equity for the Patriot project along with a large institutional co-investor.
The Patriot project is Panda Power Fund’s second development acquisition from Moxie Energy in the PJM Interconnection.
“There’s no grass growing under our feet. I’m extremely proud of a Panda team that has closed five deals of this size in 17 months,” said Todd W. Carter, president and senior partner of Panda Power Funds. “I am also pleased to add another Pennsylvania project to our portfolio. Using natural gas from the Marcellus Shale, the Panda Patriot generating station will provide clean, low-cost power to Pennsylvanians for generations to come.
“Moxie Energy is to be commended for developing the right power generation projects in precisely the right place, at the right time.”
“Panda performs exhaustive due diligence, and when it’s time to act, they move quickly,” said Aaron Samson, chief executive officer of Moxie Energy. “We’ve enjoyed working with them through both acquisitions.”
The Panda Patriot project has been strategically sited on the Marcellus Shale, estimated to be the second largest natural gas field in the world. The Marcellus contains up to a projected 330 trillion cubic feet of recoverable natural gas, or the equivalent of 115 years of production at current levels. The Patriot project’s proximity to such a large supply of natural gas is expected to provide a significant operating cost advantage for the power plant.
The Patriot plant will utilize Siemens H-class gas turbines — the world’s first generation technology to achieve combined-cycle net operating efficiencies of greater than 60 percent. The two single shaft power trains will make the Patriot plant one of the cleanest, most efficient natural gas-fueled power plants in the United States. In addition, unlike approximately 95 percent of the nation’s generating facilities, the plant will be cooled with air rather than water. As a result, the Patriot plant will not draw water from, or discharge water into, the Western Branch of the Susquehanna River — eliminating potential impacts to species in the Susquehanna watershed.
The Patriot plant will make a significant economic contribution to the area during construction and the facility’s first 10 years of operation. Approximately 500 jobs will be created to construct the Patriot power plant at peak construction. During operations, the generating station will create an estimated 27 skilled jobs to operate the facility and 45 indirect jobs within the community to support the plant.
Gemma-Lane will serve as the project EPC Contractor and Siemens Energy Inc. will provide the power island package, including the gas turbines, steam turbines and heat recovery steam generators. Gemma-Lane will be responsible for installing the power island equipment and for the engineering, procurement and installation of the balance of the plant, and the commissioning of the facility. Construction will take approximately 30 months.
South Jersey Resources Group, a subsidiary of South Jersey Industries, Inc., is the contracted gas supplier for the plant.
The generating station will be located in Clinton Township in Lycoming County, approximately 125 miles northwest of Philadelphia, Pennsylvania. When completed, the generating station will be able to supply the power needs of up to 1 million homes in Pennsylvania.
About Panda Power Funds
Founded in 2010, Panda Power Funds is a private equity firm headquartered in Dallas, Texas, which has the ability to develop, acquire, construct, finance and operate large-scale, natural gas-fueled power generation facilities. Panda has five combined-cycle power plants currently under construction in Texas and Pennsylvania with a total capacity of nearly 4,000 megawatts and has announced a 750-MW combined-cycle power plant in Northern Virginia and an 859-MW power facility in Southern Maryland. The fund built a 20-megawatt solar farm in Southwest New Jersey that is one of the largest solar facilities in the Northeast United States. Additional information on Panda Power Funds can be found at www.pandafunds.com.
About The Siemens Energy Sector
The Siemens Energy Sector is the world's leading supplier of a broad spectrum of products, services and solutions for power generation in thermal power plants and using renewables, power transmission in grids and for the extraction, processing and transport of oil and gas. In fiscal 2013 (ended September 30), the Energy Sector had revenues of EUR26.6 billion and received new orders totaling approximately EUR28.8 billion and posted a profit of approximately EUR2 billion. On September 30, 2013, the Energy Sector had a work force of approximately 83,500. Further information is available at: www.siemens.com/energy.
About Moxie Energy
Moxie Energy, LLC is a private development firm formed in 2009, which has a demonstrated capability to develop large complex power generation projects. Additional information on Moxie Energy can be found at www.moxieenergy.com.
About Gemma-Lane:
Gemma-Lane brings together the strengths of two highly experienced construction organizations. Gemma Power Systems is a full service EPC contractor with the proven ability of designing, building and commissioning over 10,000 MW of large-scale clean gas-fired and renewable energy projects. Gemma Power Systems, LLC is a wholly owned subsidiary of Argan Inc. (NYSE: AGX) and is one of the largest power contractors in the Northeastern US. Currently ranked as 43rd on Engineering News-Record’s (ENR) ‘Top 400 Contractors’ list, The Lane Construction Corporation is one of America’s premier heavy civil contractors. With experience in the shale gas industry, Lane is committed to providing a responsible and comprehensive approach to develop America’s domestic energy resources. Additional information about Gemma-Lane Patriot Partners and its parent companies can be found at www.Gemma-Lane.com.
About South Jersey Resources Group
South Jersey Resources Group, a subsidiary of South Jersey Industries’ non-regulated businesses, markets natural gas storage, commodity and transportation assets on a wholesale basis in the mid-Atlantic, Appalachian and southern states.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50772893&lang=en
Contacts
Panda Power Funds
Bill Pentak, 972-361-2000
breakingnews@pandafunds.com
Siemens AG
Christian S. Wilson, 49 9131 18-4974
christian_stuart.wilson@siemens.com
Claire Hassett, 202-730-1012
claire.hassett@siemens.com
Moxie Energy
Kent Morton, 855-446-6943
kmorton@moxieenergy.com
Gemma-Lane
Bill Carter, 860-659-0509
WCarter@gemmapower.com
South Jersey Resources Group
Joanne Brigandi, 609-561-9000 x4240
JBRIGANDI@sjindustries.com
Permalink: http://me-newswire.net/news/9552/en
DALLAS - Sunday, December 22nd 2013
Plant expected to make a significant contribution to area economy; create 500 jobs
Second new plant located on the Marcellus Shale gas formation
Goldman Sachs, Credit Suisse, Ares Capital, Union Bank and Investec arranged debt financing
Natural gas-fueled generating station will power up to 1 million homes
Gemma-Lane Patriot Partners to build plant with Siemens Energy technology
Panda Power Funds today announced that it has completed the acquisition and successful financing of Moxie Energy’s planned 829-MW natural gas-fueled, combined-cycle “Patriot” generating station, located in Lycoming County, Pennsylvania. When completed, the Patriot project will be the second new power plant in the Keystone State — after Panda’s “Liberty” power plant — specifically developed to take advantage of its proximity to the Marcellus Shale. Panda will immediately start construction on the 85-acre site and expects commercial operations to begin by the middle of 2016.
Goldman Sachs, Credit Suisse, Ares Capital, Union Bank and Investec acted as joint lead arrangers for the senior debt financing of the plant. Panda Patriot raised debt capital totaling $651.5 million. Panda Liberty, financed in August of this year, raised debt capital totaling $627 million. The Patriot transaction marks the fifth financing of a large-scale power facility by Panda Power Funds in 17 months. The fund is supplying equity for the Patriot project along with a large institutional co-investor.
The Patriot project is Panda Power Fund’s second development acquisition from Moxie Energy in the PJM Interconnection.
“There’s no grass growing under our feet. I’m extremely proud of a Panda team that has closed five deals of this size in 17 months,” said Todd W. Carter, president and senior partner of Panda Power Funds. “I am also pleased to add another Pennsylvania project to our portfolio. Using natural gas from the Marcellus Shale, the Panda Patriot generating station will provide clean, low-cost power to Pennsylvanians for generations to come.
“Moxie Energy is to be commended for developing the right power generation projects in precisely the right place, at the right time.”
“Panda performs exhaustive due diligence, and when it’s time to act, they move quickly,” said Aaron Samson, chief executive officer of Moxie Energy. “We’ve enjoyed working with them through both acquisitions.”
The Panda Patriot project has been strategically sited on the Marcellus Shale, estimated to be the second largest natural gas field in the world. The Marcellus contains up to a projected 330 trillion cubic feet of recoverable natural gas, or the equivalent of 115 years of production at current levels. The Patriot project’s proximity to such a large supply of natural gas is expected to provide a significant operating cost advantage for the power plant.
The Patriot plant will utilize Siemens H-class gas turbines — the world’s first generation technology to achieve combined-cycle net operating efficiencies of greater than 60 percent. The two single shaft power trains will make the Patriot plant one of the cleanest, most efficient natural gas-fueled power plants in the United States. In addition, unlike approximately 95 percent of the nation’s generating facilities, the plant will be cooled with air rather than water. As a result, the Patriot plant will not draw water from, or discharge water into, the Western Branch of the Susquehanna River — eliminating potential impacts to species in the Susquehanna watershed.
The Patriot plant will make a significant economic contribution to the area during construction and the facility’s first 10 years of operation. Approximately 500 jobs will be created to construct the Patriot power plant at peak construction. During operations, the generating station will create an estimated 27 skilled jobs to operate the facility and 45 indirect jobs within the community to support the plant.
Gemma-Lane will serve as the project EPC Contractor and Siemens Energy Inc. will provide the power island package, including the gas turbines, steam turbines and heat recovery steam generators. Gemma-Lane will be responsible for installing the power island equipment and for the engineering, procurement and installation of the balance of the plant, and the commissioning of the facility. Construction will take approximately 30 months.
South Jersey Resources Group, a subsidiary of South Jersey Industries, Inc., is the contracted gas supplier for the plant.
The generating station will be located in Clinton Township in Lycoming County, approximately 125 miles northwest of Philadelphia, Pennsylvania. When completed, the generating station will be able to supply the power needs of up to 1 million homes in Pennsylvania.
About Panda Power Funds
Founded in 2010, Panda Power Funds is a private equity firm headquartered in Dallas, Texas, which has the ability to develop, acquire, construct, finance and operate large-scale, natural gas-fueled power generation facilities. Panda has five combined-cycle power plants currently under construction in Texas and Pennsylvania with a total capacity of nearly 4,000 megawatts and has announced a 750-MW combined-cycle power plant in Northern Virginia and an 859-MW power facility in Southern Maryland. The fund built a 20-megawatt solar farm in Southwest New Jersey that is one of the largest solar facilities in the Northeast United States. Additional information on Panda Power Funds can be found at www.pandafunds.com.
About The Siemens Energy Sector
The Siemens Energy Sector is the world's leading supplier of a broad spectrum of products, services and solutions for power generation in thermal power plants and using renewables, power transmission in grids and for the extraction, processing and transport of oil and gas. In fiscal 2013 (ended September 30), the Energy Sector had revenues of EUR26.6 billion and received new orders totaling approximately EUR28.8 billion and posted a profit of approximately EUR2 billion. On September 30, 2013, the Energy Sector had a work force of approximately 83,500. Further information is available at: www.siemens.com/energy.
About Moxie Energy
Moxie Energy, LLC is a private development firm formed in 2009, which has a demonstrated capability to develop large complex power generation projects. Additional information on Moxie Energy can be found at www.moxieenergy.com.
About Gemma-Lane:
Gemma-Lane brings together the strengths of two highly experienced construction organizations. Gemma Power Systems is a full service EPC contractor with the proven ability of designing, building and commissioning over 10,000 MW of large-scale clean gas-fired and renewable energy projects. Gemma Power Systems, LLC is a wholly owned subsidiary of Argan Inc. (NYSE: AGX) and is one of the largest power contractors in the Northeastern US. Currently ranked as 43rd on Engineering News-Record’s (ENR) ‘Top 400 Contractors’ list, The Lane Construction Corporation is one of America’s premier heavy civil contractors. With experience in the shale gas industry, Lane is committed to providing a responsible and comprehensive approach to develop America’s domestic energy resources. Additional information about Gemma-Lane Patriot Partners and its parent companies can be found at www.Gemma-Lane.com.
About South Jersey Resources Group
South Jersey Resources Group, a subsidiary of South Jersey Industries’ non-regulated businesses, markets natural gas storage, commodity and transportation assets on a wholesale basis in the mid-Atlantic, Appalachian and southern states.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50772893&lang=en
Contacts
Panda Power Funds
Bill Pentak, 972-361-2000
breakingnews@pandafunds.com
Siemens AG
Christian S. Wilson, 49 9131 18-4974
christian_stuart.wilson@siemens.com
Claire Hassett, 202-730-1012
claire.hassett@siemens.com
Moxie Energy
Kent Morton, 855-446-6943
kmorton@moxieenergy.com
Gemma-Lane
Bill Carter, 860-659-0509
WCarter@gemmapower.com
South Jersey Resources Group
Joanne Brigandi, 609-561-9000 x4240
JBRIGANDI@sjindustries.com
Permalink: http://me-newswire.net/news/9552/en
First-in-Man Implantation of CARMAT’s Bioprosthetic Artificial Heart
PARIS. - Saturday, December 21st 2013 [ME NewsWire]
(BUSINESS WIRE) CARMAT (Paris:ALCAR) (FR0010907956, ALCAR), the designer and developer of the world’s most advanced total artificial heart project, providing an alternative for people suffering from end-stage heart failure, announces the first implantation of its artificial heart, as part of its feasibility study and in accordance with the approvals granted by the ANSM (Agence nationale de sécurité du médicament et des produits de santé, the French health authority) and the Comité de Protection des Personnes (ethics committee).
The procedure was performed on December 18, 2013 by the Georges Pompidou European Hospital team in Paris (France) - a world first.
This first implant went smoothly, with the prosthesis automatically providing normal blood flow at a physiological rate. The patient is currently being monitored in intensive care. He is awake and able to talk to his family.
“We are delighted with this first implant, although it is obviously far too early to draw conclusions given that this is the first such implant and surgery has only just been performed”, says Marcello Conviti, Chief Executive Officer of CARMAT.
About CARMAT: the world’s most advanced total artificial heart project.
The only credible response for all cases of end-stage heart failure, which is a real public health issue: CARMAT’s aim is to be able to provide a response to a major public health issue associated with heart disease, the world’s leading cause of death: chronic and acute heart failure. Indeed, this disease currently affects over 100 million patients in developed countries. By pursuing the development of its total artificial heart, CARMAT intends to overcome the well-known shortfall in heart transplants for the tens of thousands of people suffering from heart failure.
For more information: www.carmatsa.com
Contacts
CARMAT
Marcello Conviti - CEO
Patrick Coulombier - COO
Valerie Leroy - Director of Marketing & Investor Relations
Tel. : +33 139 456450
contact@carmatsas.com
Alize RP
Press relations
Caroline Carmagnol
Christian Berg
+33 170 225386
caroline@alizerp.com
christian@alizerp.com
NewCap
Financial communication and investor relations
Dušan Orešanský / Emmanuel Huynh
Tel.: +33 144 719494
carmat@newcap.fr
(BUSINESS WIRE) CARMAT (Paris:ALCAR) (FR0010907956, ALCAR), the designer and developer of the world’s most advanced total artificial heart project, providing an alternative for people suffering from end-stage heart failure, announces the first implantation of its artificial heart, as part of its feasibility study and in accordance with the approvals granted by the ANSM (Agence nationale de sécurité du médicament et des produits de santé, the French health authority) and the Comité de Protection des Personnes (ethics committee).
The procedure was performed on December 18, 2013 by the Georges Pompidou European Hospital team in Paris (France) - a world first.
This first implant went smoothly, with the prosthesis automatically providing normal blood flow at a physiological rate. The patient is currently being monitored in intensive care. He is awake and able to talk to his family.
“We are delighted with this first implant, although it is obviously far too early to draw conclusions given that this is the first such implant and surgery has only just been performed”, says Marcello Conviti, Chief Executive Officer of CARMAT.
About CARMAT: the world’s most advanced total artificial heart project.
The only credible response for all cases of end-stage heart failure, which is a real public health issue: CARMAT’s aim is to be able to provide a response to a major public health issue associated with heart disease, the world’s leading cause of death: chronic and acute heart failure. Indeed, this disease currently affects over 100 million patients in developed countries. By pursuing the development of its total artificial heart, CARMAT intends to overcome the well-known shortfall in heart transplants for the tens of thousands of people suffering from heart failure.
For more information: www.carmatsa.com
Contacts
CARMAT
Marcello Conviti - CEO
Patrick Coulombier - COO
Valerie Leroy - Director of Marketing & Investor Relations
Tel. : +33 139 456450
contact@carmatsas.com
Alize RP
Press relations
Caroline Carmagnol
Christian Berg
+33 170 225386
caroline@alizerp.com
christian@alizerp.com
NewCap
Financial communication and investor relations
Dušan Orešanský / Emmanuel Huynh
Tel.: +33 144 719494
carmat@newcap.fr
Avnet and SanDisk Partner to Deliver Innovative Commercial Flash Storage Solutions Worldwide
SanDisk Signs Global Distribution Agreement with Avnet to Broaden Availability of Flash Storage for Use in the Enterprise and Industrial Markets
MILPITAS, Calif. & TEMPE, Ariz - Thursday, December 19th 2013 [ME NewsWire]
(BUSINESS WIRE)-- SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, and Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that Avnet will offer a wide portfolio of flash-based hardware and software solutions from SanDisk to its customers throughout North America, Europe, the Middle East and Africa (EMEA), Asia Pacific and Latin America through its Avnet Electronics Marketing and Avnet Technology Solutions operating groups. This worldwide distribution agreement enables SanDisk to leverage Avnet’s global scale, scope and unique solutions distribution model, making it even easier for CIOs, IT leaders and manufacturing decision-makers from around the world to purchase and implement SanDisk’s cutting-edge solid-state storage and embedded flash memory solutions.
With this agreement, Avnet becomes one of the first global distributors for the rapidly growing SanDisk Commercial Business Channel, which offers client and enterprise-grade solid state drives (SSDs) and embedded flash computing products through channel partners. This enables Avnet to make available a variety of business and commercial solutions to its partners, including value-added resellers (VARs), embedded original equipment manufacturer (OEM) developers, system integrators (SIs), system builders (SBs) and direct market resellers (DMRs).
“Just as flash storage transformed the consumer electronics market, it is now delivering significant performance and cost-savings to businesses, including transforming both data center and client computing economics. Flash storage is also bringing unprecedented functionality to many industrial sector applications, such as manufacturing equipment, medical instrumentation and automotive infotainment,” said Henri Richard, senior vice president, Worldwide Commercial Sales and Support, SanDisk. “Avnet’s deep understanding of storage and customer-centric approach makes them a logical distribution partner for SanDisk’s flash-based commercial products and enables us to further expand our leadership in this growing market.”
Starting today, products available through Avnet will include:
Solid-state solutions to enhance data center performance (includes: Lightning® and Optimus® SAS Enterprise SSDs, CloudSpeed SATA Enterprise SSDs, Lightning® PCIe Enterprise Solid State Accelerators, and FlashSoft® server acceleration software from SanDisk);
Client SSDs to boost PC and notebook speed, responsiveness and boot-up times (includes SanDisk® X210 SSD and the SanDisk® X110 SSD in a variety of form factors); and
SanDisk embedded flash storage solutions for commercial use in technology products from a wide range of industries, from automotive to manufacturing to communications.
SanDisk products purchased through Avnet can be combined with complementary products offered by Avnet to create complete business and commercial solutions for end customers. Avnet will also provide its partners with a wide range of education, resources, services and tools designed to help accelerate the profitable growth of their storage businesses. This includes:
Targeted customer marketing to help identify sales opportunities.
The creation of design kits and participation in evaluation programs to help customers develop solutions using SanDisk technology.
“The addition of SanDisk further enhances our global technology portfolio with products from one of the most recognized and trusted brands in flash storage,” said Phil Gallagher, global president, Avnet Technology Solutions. “The combination of Avnet’s technical expertise and sophisticated integration capabilities, with SanDisk’s proven flash products, enables our channel partners to not only address the growing demand for flash-based storage solutions in the commercial market, but also create complete solutions that provide a competitive edge in the markets they serve around the globe.”
“Our customers are looking to increase the performance and efficiency of their data centers while managing costs,” said Mike Thompson, president and chief operating officer, Groupware Technology. “Avnet’s new global relationship with SanDisk opens the door to new opportunities and helps us create exceptional solutions that meet our customers’ needs.”
About SanDisk
SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 25 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smart phones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.
About Avnet
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 29, 2013, Avnet generated revenue of $25.5 billion. For more information, visit www.avnet.com.
About Avnet Technology Solutions
As a global IT solutions distributor, Avnet Technology Solutions collaborates with its customers and suppliers to create and deliver services, software and hardware solutions that address the business needs of their end-user customers locally and around the world. The group serves customers and suppliers in North America, Latin America and Caribbean, Asia Pacific, and Europe, Middle East and Africa. It generated US $10.36 billion in annual revenue for fiscal year 2013. Avnet Technology Solutions is an operating group of Avnet, Inc. For more information, visit http://www.ats.avnet.com.
About Avnet Electronics Marketing
Avnet Electronics Marketing is an operating group of Phoenix-based Avnet, Inc. that serves electronic original equipment manufacturers (EOEMs) and electronic manufacturing services (EMS) providers in more than 80 countries, distributing electronic components and embedded systems from leading manufacturers and providing associated design-chain, supply-chain and value-added integration services. The group's website is located at www.em.avnet.com.
Avnet Social Media
Follow Avnet Technology Solutions on Twitter: @AvnetTSGlobal.
Regional content for North America can be found on Twitter @AvnetAdvantage and @AvnetTSChannels and for EMEA @Avnet_TS_EMEA.
Check out Avnet’s blogs at http://blogging.avnet.com/
Connect with Avnet on Facebook at www.facebook.com/AvnetAdvantage
Join Avnet’s LinkedIn community at www.linkedin.com/company/2571
All brands and trade names are trademarks or registered trademarks, and are the properties of their respective owners. Avnet disclaims any proprietary interest in marks other than its own.
© 2013 SanDisk Corporation. All rights reserved. SanDisk is a trademark of SanDisk Corporation, registered in the United States and other countries. Lightning, Optimus and FlashSoft are U.S. registered trademarks of SanDisk Enterprise IP LLC. Cloudspeed is a trademark of SanDisk Enterprise IP LLC.
This news release contains certain forward-looking statements, including expectations for markets and customers that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: the market demand for our products may grow more slowly than our expectations or our products may not be available in the capacities that we expect or perform as expected, or the other risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent quarterly report on Form 10-Q and our annual report on Form 10-K. We do not intend to update the information contained in this news release.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50772027&lang=en
Contacts
Brodeur Partners, for Avnet Technology Solutions
Marcia Chapman, +1 480-308-0284
mchapman@brodeur.com
SanDisk Corporation
Laura Bakken, +1 408-801-7653
laura.bakken@sandisk.com
Permalink: http://www.me-newswire.net/news/9544/en
MILPITAS, Calif. & TEMPE, Ariz - Thursday, December 19th 2013 [ME NewsWire]
(BUSINESS WIRE)-- SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, and Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that Avnet will offer a wide portfolio of flash-based hardware and software solutions from SanDisk to its customers throughout North America, Europe, the Middle East and Africa (EMEA), Asia Pacific and Latin America through its Avnet Electronics Marketing and Avnet Technology Solutions operating groups. This worldwide distribution agreement enables SanDisk to leverage Avnet’s global scale, scope and unique solutions distribution model, making it even easier for CIOs, IT leaders and manufacturing decision-makers from around the world to purchase and implement SanDisk’s cutting-edge solid-state storage and embedded flash memory solutions.
With this agreement, Avnet becomes one of the first global distributors for the rapidly growing SanDisk Commercial Business Channel, which offers client and enterprise-grade solid state drives (SSDs) and embedded flash computing products through channel partners. This enables Avnet to make available a variety of business and commercial solutions to its partners, including value-added resellers (VARs), embedded original equipment manufacturer (OEM) developers, system integrators (SIs), system builders (SBs) and direct market resellers (DMRs).
“Just as flash storage transformed the consumer electronics market, it is now delivering significant performance and cost-savings to businesses, including transforming both data center and client computing economics. Flash storage is also bringing unprecedented functionality to many industrial sector applications, such as manufacturing equipment, medical instrumentation and automotive infotainment,” said Henri Richard, senior vice president, Worldwide Commercial Sales and Support, SanDisk. “Avnet’s deep understanding of storage and customer-centric approach makes them a logical distribution partner for SanDisk’s flash-based commercial products and enables us to further expand our leadership in this growing market.”
Starting today, products available through Avnet will include:
Solid-state solutions to enhance data center performance (includes: Lightning® and Optimus® SAS Enterprise SSDs, CloudSpeed SATA Enterprise SSDs, Lightning® PCIe Enterprise Solid State Accelerators, and FlashSoft® server acceleration software from SanDisk);
Client SSDs to boost PC and notebook speed, responsiveness and boot-up times (includes SanDisk® X210 SSD and the SanDisk® X110 SSD in a variety of form factors); and
SanDisk embedded flash storage solutions for commercial use in technology products from a wide range of industries, from automotive to manufacturing to communications.
SanDisk products purchased through Avnet can be combined with complementary products offered by Avnet to create complete business and commercial solutions for end customers. Avnet will also provide its partners with a wide range of education, resources, services and tools designed to help accelerate the profitable growth of their storage businesses. This includes:
Targeted customer marketing to help identify sales opportunities.
The creation of design kits and participation in evaluation programs to help customers develop solutions using SanDisk technology.
“The addition of SanDisk further enhances our global technology portfolio with products from one of the most recognized and trusted brands in flash storage,” said Phil Gallagher, global president, Avnet Technology Solutions. “The combination of Avnet’s technical expertise and sophisticated integration capabilities, with SanDisk’s proven flash products, enables our channel partners to not only address the growing demand for flash-based storage solutions in the commercial market, but also create complete solutions that provide a competitive edge in the markets they serve around the globe.”
“Our customers are looking to increase the performance and efficiency of their data centers while managing costs,” said Mike Thompson, president and chief operating officer, Groupware Technology. “Avnet’s new global relationship with SanDisk opens the door to new opportunities and helps us create exceptional solutions that meet our customers’ needs.”
About SanDisk
SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 25 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smart phones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.
About Avnet
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 29, 2013, Avnet generated revenue of $25.5 billion. For more information, visit www.avnet.com.
About Avnet Technology Solutions
As a global IT solutions distributor, Avnet Technology Solutions collaborates with its customers and suppliers to create and deliver services, software and hardware solutions that address the business needs of their end-user customers locally and around the world. The group serves customers and suppliers in North America, Latin America and Caribbean, Asia Pacific, and Europe, Middle East and Africa. It generated US $10.36 billion in annual revenue for fiscal year 2013. Avnet Technology Solutions is an operating group of Avnet, Inc. For more information, visit http://www.ats.avnet.com.
About Avnet Electronics Marketing
Avnet Electronics Marketing is an operating group of Phoenix-based Avnet, Inc. that serves electronic original equipment manufacturers (EOEMs) and electronic manufacturing services (EMS) providers in more than 80 countries, distributing electronic components and embedded systems from leading manufacturers and providing associated design-chain, supply-chain and value-added integration services. The group's website is located at www.em.avnet.com.
Avnet Social Media
Follow Avnet Technology Solutions on Twitter: @AvnetTSGlobal.
Regional content for North America can be found on Twitter @AvnetAdvantage and @AvnetTSChannels and for EMEA @Avnet_TS_EMEA.
Check out Avnet’s blogs at http://blogging.avnet.com/
Connect with Avnet on Facebook at www.facebook.com/AvnetAdvantage
Join Avnet’s LinkedIn community at www.linkedin.com/company/2571
All brands and trade names are trademarks or registered trademarks, and are the properties of their respective owners. Avnet disclaims any proprietary interest in marks other than its own.
© 2013 SanDisk Corporation. All rights reserved. SanDisk is a trademark of SanDisk Corporation, registered in the United States and other countries. Lightning, Optimus and FlashSoft are U.S. registered trademarks of SanDisk Enterprise IP LLC. Cloudspeed is a trademark of SanDisk Enterprise IP LLC.
This news release contains certain forward-looking statements, including expectations for markets and customers that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: the market demand for our products may grow more slowly than our expectations or our products may not be available in the capacities that we expect or perform as expected, or the other risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent quarterly report on Form 10-Q and our annual report on Form 10-K. We do not intend to update the information contained in this news release.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50772027&lang=en
Contacts
Brodeur Partners, for Avnet Technology Solutions
Marcia Chapman, +1 480-308-0284
mchapman@brodeur.com
SanDisk Corporation
Laura Bakken, +1 408-801-7653
laura.bakken@sandisk.com
Permalink: http://www.me-newswire.net/news/9544/en
Investors Trust Donates PHP 450,000 to World Vision’s Emergency Relief Efforts in the Philippines
GRAND CAYMAN, Cayman Islands. - Thursday, December 19th 2013 [ME NewsWire]
(BUSINESS WIRE) During this time of year, full of gift-giving and celebrating with loved ones, we must remember those affected by the horrible disaster in the Philippines. As a strong nation constantly impaired by natural disasters, the destruction of Typhoon Haiyan seems to be measured as the worst. Comprehending the impact a simple gift can have on those who have lost so much, Investors Trust Assurance SPC (“ITA”) is donating PHP 450,000 to the aid organization, World Vision, to provide emergency relief supplies to the people suffering in the Philippines.
“Especially during this time of year, it is unmeasurable to understand the devastation many people have faced and continue to face on the other side of the world,” said Managing Director, William Zelaya.
While relief efforts have been underway since the storm hit on November 8th, long-term aid is imperative to rebuild the destruction of Haiyan. The typhoon damaged millions of dollars’ worth of crops and infrastructure. It has destroyed half-a-million homes and displaced thousands of locals. As progress continues and rescue efforts are reaching the survivors, the catastrophic damage to crops and infrastructure will need on-going support and funding for economic relief.
We have chosen to partner, once again, with World Vision in their support efforts in the Philippines. Previous partnerships with World Vision have proven to be successful, thus impacting our confidence in the collaborated mission to bring hope to those in affected areas.
"They share ITA’s ideology that survivors need immediate basic supplies as well as long-term support,” Zelaya explained. “Together we can bring hope to these families and they will be able to rebuild both their lives and their spirits.”
About ITA
Investors Trust Assurance SPC is an A.M. Best "B++" rated leader in the offshore insurance business offering comprehensive unit-linked insurance plans to investors around the world. ITA is a registered insurance company holding a Class B Insurer License from the Cayman Islands Monetary Authority. ITA seeks to provide opportunities to policyholders through access to the global financial markets. Visit www.investors-trust.com for more information.
About World Vision
World Vision is a Christian relief, development, and advocacy organization dedicated to working with children, families, and their communities worldwide to reach their full potential by tackling the causes of poverty and injustice. For more information on their efforts, visit WorldVision.org/press or follow them on Twitter at @WorldVisionNews.
Contacts
Investors Trust Assurance SPC
Allison Clark, 345-749-3340
Permalink: http://me-newswire.net/news/9538/en
(BUSINESS WIRE) During this time of year, full of gift-giving and celebrating with loved ones, we must remember those affected by the horrible disaster in the Philippines. As a strong nation constantly impaired by natural disasters, the destruction of Typhoon Haiyan seems to be measured as the worst. Comprehending the impact a simple gift can have on those who have lost so much, Investors Trust Assurance SPC (“ITA”) is donating PHP 450,000 to the aid organization, World Vision, to provide emergency relief supplies to the people suffering in the Philippines.
“Especially during this time of year, it is unmeasurable to understand the devastation many people have faced and continue to face on the other side of the world,” said Managing Director, William Zelaya.
While relief efforts have been underway since the storm hit on November 8th, long-term aid is imperative to rebuild the destruction of Haiyan. The typhoon damaged millions of dollars’ worth of crops and infrastructure. It has destroyed half-a-million homes and displaced thousands of locals. As progress continues and rescue efforts are reaching the survivors, the catastrophic damage to crops and infrastructure will need on-going support and funding for economic relief.
We have chosen to partner, once again, with World Vision in their support efforts in the Philippines. Previous partnerships with World Vision have proven to be successful, thus impacting our confidence in the collaborated mission to bring hope to those in affected areas.
"They share ITA’s ideology that survivors need immediate basic supplies as well as long-term support,” Zelaya explained. “Together we can bring hope to these families and they will be able to rebuild both their lives and their spirits.”
About ITA
Investors Trust Assurance SPC is an A.M. Best "B++" rated leader in the offshore insurance business offering comprehensive unit-linked insurance plans to investors around the world. ITA is a registered insurance company holding a Class B Insurer License from the Cayman Islands Monetary Authority. ITA seeks to provide opportunities to policyholders through access to the global financial markets. Visit www.investors-trust.com for more information.
About World Vision
World Vision is a Christian relief, development, and advocacy organization dedicated to working with children, families, and their communities worldwide to reach their full potential by tackling the causes of poverty and injustice. For more information on their efforts, visit WorldVision.org/press or follow them on Twitter at @WorldVisionNews.
Contacts
Investors Trust Assurance SPC
Allison Clark, 345-749-3340
Permalink: http://me-newswire.net/news/9538/en
Toshiba Expands Package Line-up of High Current Stepping Motor Driver ICs
TOKYO - Thursday, December 19th 2013 [ME NewsWire]
(BUSINESS WIRE)-- Toshiba Corporation (TOKYO:6502) today announced an expansion of the package line-up of “TB67S10xA” and “TB6600” series of high current stepping motor driver ICs with 50V absolute maximum ratings. Sample shipments start today.
The “HZIP25” package, which realizes high power dissipation, and the “HSOP28” package, which allows customers to apply low-cost solder flow assembly, have been added to the “TB67S10xA” series. The high heat dissipating “HQFP64” package has been added to the “TB6600” series.
The expansion of the package line-up extends the customers’ ability to select high voltage, high current motor driver ICs that closely meet system requirements, including assembly method, contributing to equipment downsizing and cost reduction.
Key Features of New Package Line-up
HZIP25 packages (part numbers: TB67S101AHG, TB67S102AHG and TB67S109AHG) The HZIP25 package realizes high power dissipation of 5W (single use) and 25W (mounting on infinite heat sink plate), allowing use in applications that require large heat radiation. Applications include factory automation systems that need to mount high current driver ICs into high density PCBs.
HSOP28 packages (part numbers: TB67S101AFG and TB67S102AFG) The HSOP28 package allows low-cost solder flow assembly. It contributes to system cost reduction by allowing use of single-layer PCBs instead of high cost double-layer boards.
HQFP64 packages (part number: TB6600FG) The HQFP64 package incorporates heat sink plates on the base, allowing surface mounting while preventing overheating. The package is designed for use in applications, where the height of the mounted components is limited.
Applications
Printers, office automation equipment, banking terminals (ATM), bank note identification machines, amusement equipment, factory automation systems (industrial sewing machines, looms, and so on), and home appliances
To view the main specifications kindly click here
Information in this document, including product prices and specifications, content of services and contact information, is current on the date of the announcement but is subject to change without prior notice.
About Toshiba
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.
Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50771087&lang=en
To view the full release including the table, please click here
Contacts
Media Inquiries:
Toshiba Corporation
Semiconductor & Storage Products Company
Takashi Mochizuki, +81-3-3457-4963
e-mail: semicon-NR-mailbox@ml.toshiba.co.jp
(BUSINESS WIRE)-- Toshiba Corporation (TOKYO:6502) today announced an expansion of the package line-up of “TB67S10xA” and “TB6600” series of high current stepping motor driver ICs with 50V absolute maximum ratings. Sample shipments start today.
The “HZIP25” package, which realizes high power dissipation, and the “HSOP28” package, which allows customers to apply low-cost solder flow assembly, have been added to the “TB67S10xA” series. The high heat dissipating “HQFP64” package has been added to the “TB6600” series.
The expansion of the package line-up extends the customers’ ability to select high voltage, high current motor driver ICs that closely meet system requirements, including assembly method, contributing to equipment downsizing and cost reduction.
Key Features of New Package Line-up
HZIP25 packages (part numbers: TB67S101AHG, TB67S102AHG and TB67S109AHG) The HZIP25 package realizes high power dissipation of 5W (single use) and 25W (mounting on infinite heat sink plate), allowing use in applications that require large heat radiation. Applications include factory automation systems that need to mount high current driver ICs into high density PCBs.
HSOP28 packages (part numbers: TB67S101AFG and TB67S102AFG) The HSOP28 package allows low-cost solder flow assembly. It contributes to system cost reduction by allowing use of single-layer PCBs instead of high cost double-layer boards.
HQFP64 packages (part number: TB6600FG) The HQFP64 package incorporates heat sink plates on the base, allowing surface mounting while preventing overheating. The package is designed for use in applications, where the height of the mounted components is limited.
Applications
Printers, office automation equipment, banking terminals (ATM), bank note identification machines, amusement equipment, factory automation systems (industrial sewing machines, looms, and so on), and home appliances
To view the main specifications kindly click here
Information in this document, including product prices and specifications, content of services and contact information, is current on the date of the announcement but is subject to change without prior notice.
About Toshiba
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.
Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50771087&lang=en
To view the full release including the table, please click here
Contacts
Media Inquiries:
Toshiba Corporation
Semiconductor & Storage Products Company
Takashi Mochizuki, +81-3-3457-4963
e-mail: semicon-NR-mailbox@ml.toshiba.co.jp
Employment Trend: Project Management Remains Strong Career Option
ME NewsWire / Business Wire
NEWTOWN SQUARE, Pa. - Friday, December 20th 2013
In alignment with signs of improvement from various global economies, the project management profession is experiencing continued growth and high median salaries, according to the recently released 2013 Project Management Salary Survey from Project Management Institute (PMI). This latest research from the world’s leading professional membership organization for project managers is available to PMI members here.
The PMI Project Management Salary Survey Eighth Edition is based on self-reported salary information from more than 36,000 project management practitioners. The report provides a comprehensive look at compensation in the global project management field, measuring salaries across eight major position description levels in 33 countries. Countries reporting the highest median project management salaries are Australia, Switzerland, the United States, the Netherlands, Germany, Canada, New Zealand, Belgium, Sweden and the United Kingdom. See a full explanation of salaries in these regions.
The 2013 Salary Survey corroborates the findings of PMI’s 2013 Project Management Talent Gap Report, which indicates a significant upward trend in compensation for project professionals, fueled by projected growth of US$6.61 trillion within the project management profession and the creation of 15.7 million new project management roles worldwide between 2010 and 2020. Most survey participants (71 percent) report that their total compensation (including salary, bonus and other forms of compensation) increased over the 12 months prior to completing the salary survey, with over one fourth (28 percent) of respondents reporting increases of at least 5 percent over that time period. Specific findings of the 2013 Salary Survey include:
The median annualized salary recorded in the survey, across all countries, roles and experience levels is US$88,399.
Approximately 75 percent of respondents earned at least US$58,249, and the upper 25 percent earned at least US$116,183 (USD).
Project Management Professional (PMP®) credential holders can earn upward of US$15,000 more in certain countries than non-credential holders, with median salaries in the United States, Switzerland, Australia, Germany and the Netherlands exceeding US$100,000.
The median salary varied greatly depending on a number of key demographic factors, including: country of employment, position/role, average size of projects managed (including average project budget and average project team size), and number of years’ experience in project management.
The full report of the salary survey features:
The responses of more than 36,000 practitioners in 33 countries
Cross-tabulations of salary data by 8 positions and 15 demographic variables
Countries with reported salary increases over the past year
Countries with expected salary increases for the next year
Information on benefit packages, work environments and available global project management career paths
“These numbers are great news for project managers who are looking to expand their careers with new skills, individuals who may be interested in a career change and those who are coming out of school or military service and considering what job would best suit their future goals,” said Mark A. Langley, President and CEO of Project Management Institute. “There is a very real benefit for those who have experience and training to pursue certification. Organizations are willing to pay for top project management talent as they recognize the competitive advantages delivered by project management.”
About Project Management Institute (PMI)
PMI is the world’s largest not-for-profit membership association for the project management profession. Our professional resources and research empower more than 700,000 members, certification and credential holders and volunteers in nearly every country in the world to enhance their careers, improve their organizations’ success and further mature the profession.
PMI’s worldwide advocacy for project management is reinforced by our globally recognized standards and certification program, extensive academic and market research programs, chapters and communities of practice, and professional development opportunities. Visit us at www.PMI.org, www.facebook.com/PMInstitute and on Twitter @PMInstitute.
Contacts
Media:
PMI
Megan Maguire Kelly, +1 610-356-4600 x7030
Megan.Kelly@pmi.org
Permalink: http://www.me-newswire.net/news/9550/en
NEWTOWN SQUARE, Pa. - Friday, December 20th 2013
In alignment with signs of improvement from various global economies, the project management profession is experiencing continued growth and high median salaries, according to the recently released 2013 Project Management Salary Survey from Project Management Institute (PMI). This latest research from the world’s leading professional membership organization for project managers is available to PMI members here.
The PMI Project Management Salary Survey Eighth Edition is based on self-reported salary information from more than 36,000 project management practitioners. The report provides a comprehensive look at compensation in the global project management field, measuring salaries across eight major position description levels in 33 countries. Countries reporting the highest median project management salaries are Australia, Switzerland, the United States, the Netherlands, Germany, Canada, New Zealand, Belgium, Sweden and the United Kingdom. See a full explanation of salaries in these regions.
The 2013 Salary Survey corroborates the findings of PMI’s 2013 Project Management Talent Gap Report, which indicates a significant upward trend in compensation for project professionals, fueled by projected growth of US$6.61 trillion within the project management profession and the creation of 15.7 million new project management roles worldwide between 2010 and 2020. Most survey participants (71 percent) report that their total compensation (including salary, bonus and other forms of compensation) increased over the 12 months prior to completing the salary survey, with over one fourth (28 percent) of respondents reporting increases of at least 5 percent over that time period. Specific findings of the 2013 Salary Survey include:
The median annualized salary recorded in the survey, across all countries, roles and experience levels is US$88,399.
Approximately 75 percent of respondents earned at least US$58,249, and the upper 25 percent earned at least US$116,183 (USD).
Project Management Professional (PMP®) credential holders can earn upward of US$15,000 more in certain countries than non-credential holders, with median salaries in the United States, Switzerland, Australia, Germany and the Netherlands exceeding US$100,000.
The median salary varied greatly depending on a number of key demographic factors, including: country of employment, position/role, average size of projects managed (including average project budget and average project team size), and number of years’ experience in project management.
The full report of the salary survey features:
The responses of more than 36,000 practitioners in 33 countries
Cross-tabulations of salary data by 8 positions and 15 demographic variables
Countries with reported salary increases over the past year
Countries with expected salary increases for the next year
Information on benefit packages, work environments and available global project management career paths
“These numbers are great news for project managers who are looking to expand their careers with new skills, individuals who may be interested in a career change and those who are coming out of school or military service and considering what job would best suit their future goals,” said Mark A. Langley, President and CEO of Project Management Institute. “There is a very real benefit for those who have experience and training to pursue certification. Organizations are willing to pay for top project management talent as they recognize the competitive advantages delivered by project management.”
About Project Management Institute (PMI)
PMI is the world’s largest not-for-profit membership association for the project management profession. Our professional resources and research empower more than 700,000 members, certification and credential holders and volunteers in nearly every country in the world to enhance their careers, improve their organizations’ success and further mature the profession.
PMI’s worldwide advocacy for project management is reinforced by our globally recognized standards and certification program, extensive academic and market research programs, chapters and communities of practice, and professional development opportunities. Visit us at www.PMI.org, www.facebook.com/PMInstitute and on Twitter @PMInstitute.
Contacts
Media:
PMI
Megan Maguire Kelly, +1 610-356-4600 x7030
Megan.Kelly@pmi.org
Permalink: http://www.me-newswire.net/news/9550/en
Saturday, December 21, 2013
eBay Inc. Completes Acquisition of Global Payments Innovator Braintree
ME Newswire / Businesswire
SAN JOSE, Calif. - Saturday, December 21st 2013
eBay Inc. (NASDAQ: EBAY) today announced it completed its previously announced acquisition of Braintree, the innovative global payment platform powering the next generation of leading online and mobile-first startups. In accordance with the terms of the acquisition agreement announced September 26, 2013, eBay acquired Braintree for total consideration of approximately $800 million in cash.
Braintree will now operate as a separate service within PayPal under the leadership of Braintree CEO Bill Ready, who will report to PayPal President David Marcus and has joined PayPal’s executive staff.
Braintree has become the payment platform of choice for next-generation innovators like Airbnb, OpenTable, HotelTonight and Uber, transforming consumer experiences through mobile devices. PayPal plans to integrate with Braintree only in ways that will benefit customers and support Braintree’s growth.
Venmo, Braintree’s mobile application that gives people an easy way to pay each other using their mobile devices and leveraging social networks, is part of the acquisition and will remain a separate app.
PayPal and Braintree are now focused on transforming the mobile payments space together. By combining efforts, we believe Braintree will accelerate PayPal’s strong presence in mobile payments, while PayPal will propel Braintree forward at a faster pace with its resources and global scale.
eBay anticipates the acquisition will have an immaterial impact to PayPal’s 2013 net total payment volume. eBay expects that definitional differences between PayPal’s net total payment volume and Braintree’s projected $12 billion payment volume for 2013, approximately one-third of which is expected to be driven by mobile payments, will lead to a significant portion of Braintree’s payment volume not being additive to PayPal’s net total payment volume and treated instead like PayPal’s payment gateway business, with only the revenue being recorded. The take rate associated with Braintree's payment volume varies significantly based on business mix. eBay expects the acquisition to be immaterial to its 2013 revenue guidance which it announced October 16, 2013, and due to timing to have an immaterial impact to its 2013 non-GAAP EPS guidance and a negative impact of $0.01 - $0.03 to its 2013 GAAP EPS guidance.
About eBay Inc. eBay Inc. (NASDAQ: EBAY) is a global commerce and payments leader, providing a robust platform where merchants of all sizes can compete and win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of buyers and sellers and enabled $175 billion of commerce volume in 2012. We do so through eBay, the world's largest online marketplace, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive digital payments; and through eBay Enterprise, which enables omnichannel commerce, multichannel retailing and digital marketing for global enterprises in the U.S. and internationally. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
About PayPal PayPal is the faster, safer way to pay and get paid online, via a mobile device and in store. The service gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With 137 million active accounts in 193 markets and 26 currencies around the world, PayPal enables global commerce, processing almost 8 million payments every day. Because PayPal helps people transact anytime, anywhere and in any way, the company is a driving force behind the growth of mobile commerce and expects to process $20 billion in mobile payments in 2013. PayPal is an eBay (Nasdaq: EBAY) company and contributed 40 percent of eBay Inc.'s revenues in 2012. PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore. More information about the company can be found at www.paypal-media.com.
About Braintree A catalyst for the next generation of commerce, Braintree’s global payment platform expects to process approximately $12 billion in payment volume in 2013 for thousands of online and mobile commerce innovators including Airbnb, Fab, LivingSocial, OpenTable and Uber. Merchants in more than 40 countries across North America, Europe and Australia can accept payments in more than 130 currencies using Braintree. Today, Braintree powers single-click purchasing for more than 40 million consumers and its mobile app, Venmo, gives people an easy way to pay using their mobile devices. To learn more, visit Braintree at www.braintreepayments.com and on Twitter @braintree.
Forward-Looking Statements This announcement contains forward-looking statements, including statements about the expected impact of the Braintree acquisition on PayPal’s and eBay’s financial and operating results and business, the operation, management and integration of Braintree after acquisition, PayPal’s projected mobile payments volume, and Braintree’s projected payments volume and mobile payments volume. These forward-looking statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the reaction of Braintree’s customers and merchant and gateway partners to the transaction, PayPal’s plans for Braintree, the future growth of Braintree’s and PayPal’s businesses, the reaction of competitors to the transaction and the possibility that integration following the transaction may be more difficult than expected. More information about potential factors which could affect our business and results is included in eBay's Annual Report on Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K, and other periodic filings. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements.
Contacts
eBay Inc.
Investor Relations Contact:
Tracey Ford
tford@ebay.com
Media Relations Contact:
Jennifer Hakes, 408-967-4309
jehakes@paypal.com
Media Relations Contact:
Brian Sinderson, 415-602-9975
brian.sinderson@mslgroup.com
Investor Information Request:
408-376-7493
Company News:
http://www.ebayinc.com/news
Investor Relations website:
http://investor.ebayinc.com
Permalink: http://me-newswire.net/news/9556/en
SAN JOSE, Calif. - Saturday, December 21st 2013
eBay Inc. (NASDAQ: EBAY) today announced it completed its previously announced acquisition of Braintree, the innovative global payment platform powering the next generation of leading online and mobile-first startups. In accordance with the terms of the acquisition agreement announced September 26, 2013, eBay acquired Braintree for total consideration of approximately $800 million in cash.
Braintree will now operate as a separate service within PayPal under the leadership of Braintree CEO Bill Ready, who will report to PayPal President David Marcus and has joined PayPal’s executive staff.
Braintree has become the payment platform of choice for next-generation innovators like Airbnb, OpenTable, HotelTonight and Uber, transforming consumer experiences through mobile devices. PayPal plans to integrate with Braintree only in ways that will benefit customers and support Braintree’s growth.
Venmo, Braintree’s mobile application that gives people an easy way to pay each other using their mobile devices and leveraging social networks, is part of the acquisition and will remain a separate app.
PayPal and Braintree are now focused on transforming the mobile payments space together. By combining efforts, we believe Braintree will accelerate PayPal’s strong presence in mobile payments, while PayPal will propel Braintree forward at a faster pace with its resources and global scale.
eBay anticipates the acquisition will have an immaterial impact to PayPal’s 2013 net total payment volume. eBay expects that definitional differences between PayPal’s net total payment volume and Braintree’s projected $12 billion payment volume for 2013, approximately one-third of which is expected to be driven by mobile payments, will lead to a significant portion of Braintree’s payment volume not being additive to PayPal’s net total payment volume and treated instead like PayPal’s payment gateway business, with only the revenue being recorded. The take rate associated with Braintree's payment volume varies significantly based on business mix. eBay expects the acquisition to be immaterial to its 2013 revenue guidance which it announced October 16, 2013, and due to timing to have an immaterial impact to its 2013 non-GAAP EPS guidance and a negative impact of $0.01 - $0.03 to its 2013 GAAP EPS guidance.
About eBay Inc. eBay Inc. (NASDAQ: EBAY) is a global commerce and payments leader, providing a robust platform where merchants of all sizes can compete and win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of buyers and sellers and enabled $175 billion of commerce volume in 2012. We do so through eBay, the world's largest online marketplace, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive digital payments; and through eBay Enterprise, which enables omnichannel commerce, multichannel retailing and digital marketing for global enterprises in the U.S. and internationally. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
About PayPal PayPal is the faster, safer way to pay and get paid online, via a mobile device and in store. The service gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With 137 million active accounts in 193 markets and 26 currencies around the world, PayPal enables global commerce, processing almost 8 million payments every day. Because PayPal helps people transact anytime, anywhere and in any way, the company is a driving force behind the growth of mobile commerce and expects to process $20 billion in mobile payments in 2013. PayPal is an eBay (Nasdaq: EBAY) company and contributed 40 percent of eBay Inc.'s revenues in 2012. PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore. More information about the company can be found at www.paypal-media.com.
About Braintree A catalyst for the next generation of commerce, Braintree’s global payment platform expects to process approximately $12 billion in payment volume in 2013 for thousands of online and mobile commerce innovators including Airbnb, Fab, LivingSocial, OpenTable and Uber. Merchants in more than 40 countries across North America, Europe and Australia can accept payments in more than 130 currencies using Braintree. Today, Braintree powers single-click purchasing for more than 40 million consumers and its mobile app, Venmo, gives people an easy way to pay using their mobile devices. To learn more, visit Braintree at www.braintreepayments.com and on Twitter @braintree.
Forward-Looking Statements This announcement contains forward-looking statements, including statements about the expected impact of the Braintree acquisition on PayPal’s and eBay’s financial and operating results and business, the operation, management and integration of Braintree after acquisition, PayPal’s projected mobile payments volume, and Braintree’s projected payments volume and mobile payments volume. These forward-looking statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the reaction of Braintree’s customers and merchant and gateway partners to the transaction, PayPal’s plans for Braintree, the future growth of Braintree’s and PayPal’s businesses, the reaction of competitors to the transaction and the possibility that integration following the transaction may be more difficult than expected. More information about potential factors which could affect our business and results is included in eBay's Annual Report on Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K, and other periodic filings. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements.
Contacts
eBay Inc.
Investor Relations Contact:
Tracey Ford
tford@ebay.com
Media Relations Contact:
Jennifer Hakes, 408-967-4309
jehakes@paypal.com
Media Relations Contact:
Brian Sinderson, 415-602-9975
brian.sinderson@mslgroup.com
Investor Information Request:
408-376-7493
Company News:
http://www.ebayinc.com/news
Investor Relations website:
http://investor.ebayinc.com
Permalink: http://me-newswire.net/news/9556/en
ZTE Welcomes Final Determination of U.S. ITC in InterDigital Case
ME Newswire / Business Wire
SHENZHEN, China - Friday, December 20th 2013
ZTE Corporation welcomes the final determination of the United States International Trade Commission ("ITC") rejecting the patent claims made by InterDigital Inc.
The ITC cleared ZTE of the infringement complaints by InterDigital on six patents, and ruled that another patent claimed by InterDigital was invalid. The final determination in the 337-TA-800 case upheld the ITC’s preliminary determination made on 28 June, 2013, and removes the basis for possible exclusion orders and cease and desist orders against ZTE products by the ITC.
“We are delighted about the ITC’s adjudication, as we are committed to offering high-quality products and services for our customers in the United States,” said Mr. Guo Xiaoming, Vice President and Chief Legal Officer of ZTE. “This decision is an important victory in ZTE’s efforts to combat patent mis-use by some protagonists for anti-competitive purposes.”
ZTE’s industry-leading pool of intellectual property assets, a product of vast investments in technology innovation, is a strong safeguard to help ZTE prevail in patent litigations internationally. ZTE ranked No. 1 globally in international patent applications in 2011 and 2012, according to the World Intellectual Property Organization. In 2013, U.S. courts have ruled in ZTE’s favor in patent litigations with InterDigital, TPL and Flashpoint.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Permalink: http://www.me-newswire.net/news/9551/en
SHENZHEN, China - Friday, December 20th 2013
ZTE Corporation welcomes the final determination of the United States International Trade Commission ("ITC") rejecting the patent claims made by InterDigital Inc.
The ITC cleared ZTE of the infringement complaints by InterDigital on six patents, and ruled that another patent claimed by InterDigital was invalid. The final determination in the 337-TA-800 case upheld the ITC’s preliminary determination made on 28 June, 2013, and removes the basis for possible exclusion orders and cease and desist orders against ZTE products by the ITC.
“We are delighted about the ITC’s adjudication, as we are committed to offering high-quality products and services for our customers in the United States,” said Mr. Guo Xiaoming, Vice President and Chief Legal Officer of ZTE. “This decision is an important victory in ZTE’s efforts to combat patent mis-use by some protagonists for anti-competitive purposes.”
ZTE’s industry-leading pool of intellectual property assets, a product of vast investments in technology innovation, is a strong safeguard to help ZTE prevail in patent litigations internationally. ZTE ranked No. 1 globally in international patent applications in 2011 and 2012, according to the World Intellectual Property Organization. In 2013, U.S. courts have ruled in ZTE’s favor in patent litigations with InterDigital, TPL and Flashpoint.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Permalink: http://www.me-newswire.net/news/9551/en
Thursday, December 19, 2013
A Delightful Gift for All Golf Lovers from Turkish Airlines
Turkish Airlines Open App is Now Available on Mobile Platforms
NEW YORK - Thursday, December 19th 2013 [ME NewsWire]
(BUSINESS WIRE) The Turkish Airlines Open 2013, the European Tour’s new U.S. $7 million event was full of exciting moments. Held in Antalya between 7-10 November, the tournament included the participation of Tiger Woods and ended with the championship of French golfer, Victor Dubuisson.
A Turkish Airlines Open Mobile Golf App was introduced for golf lovers at the start of the event, and is now available free of charge at the Apple App Store; it is compatible with iPhone 3, 4 and 5 as well as iPad2 and its subsequent upgrades. An Android-based release will be available soon.
The Turkish Airlines Open mobile golf application allows players to compete with rivals on links that are identical to the Maxx Royal course where the event was played. The App includes real course simulations and stunning visuals that will make it a favorite of golfers worldwide.
The Turkish Airlines Open App is available using this link: https://itunes.apple.com/us/app/turkish-airlines-open/id739101836?mt=8
About Turkish Airlines:
Founded in 1933 with a fleet of 5 planes, Turkish Airlines is a member of Star Alliance and today it has a fleet of 233 planes (both passenger and cargo) and operates scheduled flights to a total of 243 destinations - 201 international and 42 domestic. Skytrax named Turkish Airlines, a 4-star airline company, as the “Best Airline in Europe” in 2013 for the 3rd year running, and the “Best Airline in Southern Europe” for the 5th year running. Turkish Airlines, which received the title “Best Food in Economy Class” award on a global scale in 2010, also earned Skytrax’ “Best Food in Business Class” award this year. For more information about Turkish Airlines, please visit www.turkishairlines.com.
Contacts
for Turkish Airlines
Michelle Mekky, 312-245-9805 ext. 112
michellemekky@alpaytac.com
Permalink: http://www.me-newswire.net/news/9537/en
NEW YORK - Thursday, December 19th 2013 [ME NewsWire]
(BUSINESS WIRE) The Turkish Airlines Open 2013, the European Tour’s new U.S. $7 million event was full of exciting moments. Held in Antalya between 7-10 November, the tournament included the participation of Tiger Woods and ended with the championship of French golfer, Victor Dubuisson.
A Turkish Airlines Open Mobile Golf App was introduced for golf lovers at the start of the event, and is now available free of charge at the Apple App Store; it is compatible with iPhone 3, 4 and 5 as well as iPad2 and its subsequent upgrades. An Android-based release will be available soon.
The Turkish Airlines Open mobile golf application allows players to compete with rivals on links that are identical to the Maxx Royal course where the event was played. The App includes real course simulations and stunning visuals that will make it a favorite of golfers worldwide.
The Turkish Airlines Open App is available using this link: https://itunes.apple.com/us/app/turkish-airlines-open/id739101836?mt=8
About Turkish Airlines:
Founded in 1933 with a fleet of 5 planes, Turkish Airlines is a member of Star Alliance and today it has a fleet of 233 planes (both passenger and cargo) and operates scheduled flights to a total of 243 destinations - 201 international and 42 domestic. Skytrax named Turkish Airlines, a 4-star airline company, as the “Best Airline in Europe” in 2013 for the 3rd year running, and the “Best Airline in Southern Europe” for the 5th year running. Turkish Airlines, which received the title “Best Food in Economy Class” award on a global scale in 2010, also earned Skytrax’ “Best Food in Business Class” award this year. For more information about Turkish Airlines, please visit www.turkishairlines.com.
Contacts
for Turkish Airlines
Michelle Mekky, 312-245-9805 ext. 112
michellemekky@alpaytac.com
Permalink: http://www.me-newswire.net/news/9537/en
Wednesday, December 18, 2013
MobileMedia Ideas, BlackBerry Enter Into License and Settlement Agreement
ME NewsWire / Business Wire
CHEVY CHASE, Md - Wednesday, December 18th 2013
MobileMedia Ideas LLC (“MMI”) announced today that MMI has entered into a license and settlement agreement with BlackBerry Limited and BlackBerry Corporation (collectively “Blackberry”), under which MMI’s patent enforcement action against Blackberry in the U.S. District Court for the Northern District of Texas has been settled and dismissed.
MobileMedia Ideas LLC
MobileMedia Ideas offers convenient access on reasonable terms to a portfolio of inventions covering important features widely used in smart phones, mobile phones and other portable devices including personal computers, laptops, netbooks, personal media players, e-book readers, cameras and hand-held game consoles. For further information, please refer to www.mobilemediaideas.com.
Contacts
MobileMedia Ideas LLC
Tom O’Reilly
Tel: 303-200-1710
toreilly@mobilemediaideas.com
Permalink: http://www.me-newswire.net/news/9528/en
CHEVY CHASE, Md - Wednesday, December 18th 2013
MobileMedia Ideas LLC (“MMI”) announced today that MMI has entered into a license and settlement agreement with BlackBerry Limited and BlackBerry Corporation (collectively “Blackberry”), under which MMI’s patent enforcement action against Blackberry in the U.S. District Court for the Northern District of Texas has been settled and dismissed.
MobileMedia Ideas LLC
MobileMedia Ideas offers convenient access on reasonable terms to a portfolio of inventions covering important features widely used in smart phones, mobile phones and other portable devices including personal computers, laptops, netbooks, personal media players, e-book readers, cameras and hand-held game consoles. For further information, please refer to www.mobilemediaideas.com.
Contacts
MobileMedia Ideas LLC
Tom O’Reilly
Tel: 303-200-1710
toreilly@mobilemediaideas.com
Permalink: http://www.me-newswire.net/news/9528/en
ZTE to Appeal Mannheim District Court Decision in Patent Litigation with Vringo
SHENZHEN, China - Wednesday, December 18th 2013 [ME NewsWire]
(BUSINESS WIRE) ZTE Corporation and its subsidiary in Germany will appeal a decision by the District Court of Mannheim, Germany this week as the Group continues to defend a patent-related action initiated by Vringo Germany GmbH.
The ruling by Mannheim district court concerned the German part of the European Patent EP 1 186 119, owned by Vringo Infrastructure Inc., and a minor and optional function included in certain ZTE products. This week’s decision does not affect ZTE’s ability to offer products without the optional function. As the optional function is not in use in Germany, ZTE customers and consumers will not be affected by the ruling.
ZTE will appeal the Mannheim district court ruling in a higher court in Germany, and is optimistic of an outcome in favor of the Group.
In parallel, ZTE Deutschland GmbH previously filed a nullity action on the German part of EP 1 186 119 which is still pending at the German Federal Patent Court in Munich.
As a global provider of telecommunications equipment, ZTE owns more than 50,000 patents as the Group is committed to offering the highest-quality products and services to customers round the world. ZTE fully respects the intellectual property of other companies, and is committed to completing licensing agreements with patent holders on the FRAND (fair, reasonable and non-discriminatory) principle. ZTE steadfastly opposes the anti-competitive use of patents by holders as a tactic for unreasonable demands.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Permalink: http://www.me-newswire.net/news/9533/en
(BUSINESS WIRE) ZTE Corporation and its subsidiary in Germany will appeal a decision by the District Court of Mannheim, Germany this week as the Group continues to defend a patent-related action initiated by Vringo Germany GmbH.
The ruling by Mannheim district court concerned the German part of the European Patent EP 1 186 119, owned by Vringo Infrastructure Inc., and a minor and optional function included in certain ZTE products. This week’s decision does not affect ZTE’s ability to offer products without the optional function. As the optional function is not in use in Germany, ZTE customers and consumers will not be affected by the ruling.
ZTE will appeal the Mannheim district court ruling in a higher court in Germany, and is optimistic of an outcome in favor of the Group.
In parallel, ZTE Deutschland GmbH previously filed a nullity action on the German part of EP 1 186 119 which is still pending at the German Federal Patent Court in Munich.
As a global provider of telecommunications equipment, ZTE owns more than 50,000 patents as the Group is committed to offering the highest-quality products and services to customers round the world. ZTE fully respects the intellectual property of other companies, and is committed to completing licensing agreements with patent holders on the FRAND (fair, reasonable and non-discriminatory) principle. ZTE steadfastly opposes the anti-competitive use of patents by holders as a tactic for unreasonable demands.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Permalink: http://www.me-newswire.net/news/9533/en
20th Anniversary Celebrations Marking the Establishment of the Emirates Center for Strategic Studies and Research (ECSSR) Kick off
ABU DHABI, United Arab Emirates - Wednesday, December 18th 2013 [ME NewsWire]
To mark the 20th anniversary of its establishment, the Emirates Center for Strategic Studies and Research (ECSSR) held a press conference on Wednesday, under the auspices of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and President of the ECSSR. A big crowd of journalists, reporters and specialists in intellect, culture and scientific research attended the conference, which featured a documentary on the center and its achievements over the past 20 years.
In his opening speech, ECSSR Director General, H.E. Dr. Jamal Sanad Al-Suwaidi, said: “Our sustained pursuit of excellence is the fruit of exerted efforts and dedication over 20 years spent overcoming challenges to achieve our goals, in light of the ECSSR’s ambition and determination to confirm its prestigious status, not only locally and regionally, but also internationally, and to serve the community in the UAE, GCC, the Arab region and around the world.” He commended the role of the media to cover the activities of the Center as an influential source in forming public opinion, to highlight the prestigious status achieved by the UAE; under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE (may God bless him).”
Dr. Al-Suwaidi extended his sincere thanks to His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE (may God bless him) for his continued support of the ECSSR. He also praised the efforts of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and President of the ECSSR, who had the most significant influence on the ECSSR’s excellence since its inception 20 years ago.
Al Suwaidi added: “Since its establishment, the ECSSR has carried out its mission to support national decision-making and serve both the UAE and GCC societies in a manner that is mindful of tradition, yet embraces modernity. It has enriched the catalogue of Gulf, Arab and international research by exploring a broad range of topics and themes addressing local, regional, and international issues through around 1,000 publications and 800 events. By fostering and applying the principles of excellence in the field of strategic research, it has secured itself notable status as a think tank, locally, regionally and internationally, whilst also fulfilling its mission to invest in the UAE’s human resources.”
Al Suwaidi noted that the Center has always been committed to implementing the vision of H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and President of ECSSR, on the need to apply a clear strategy and approach, maintaining the capacity to assume responsibility and make decisions.
The Emirates Center for Strategic Studies and Research was established on March 14, 1994, following the instructions of H.H. Sheikh Khalifa bin Zayed Al Nahyan, the UAE President (may God bless him) – then the Crown Prince of Abu Dhabi– and became an academic institution of excellence and a think tank with great potential with the guidance and kind patronage of H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and President of ECSSR.
View the official and complete release in English by following this link: http://goo.gl/pNFp8M
Contacts
ECSSR
Media Department, +971-2-404-4433
media@ecssr.ae
To mark the 20th anniversary of its establishment, the Emirates Center for Strategic Studies and Research (ECSSR) held a press conference on Wednesday, under the auspices of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and President of the ECSSR. A big crowd of journalists, reporters and specialists in intellect, culture and scientific research attended the conference, which featured a documentary on the center and its achievements over the past 20 years.
In his opening speech, ECSSR Director General, H.E. Dr. Jamal Sanad Al-Suwaidi, said: “Our sustained pursuit of excellence is the fruit of exerted efforts and dedication over 20 years spent overcoming challenges to achieve our goals, in light of the ECSSR’s ambition and determination to confirm its prestigious status, not only locally and regionally, but also internationally, and to serve the community in the UAE, GCC, the Arab region and around the world.” He commended the role of the media to cover the activities of the Center as an influential source in forming public opinion, to highlight the prestigious status achieved by the UAE; under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE (may God bless him).”
Dr. Al-Suwaidi extended his sincere thanks to His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE (may God bless him) for his continued support of the ECSSR. He also praised the efforts of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and President of the ECSSR, who had the most significant influence on the ECSSR’s excellence since its inception 20 years ago.
Al Suwaidi added: “Since its establishment, the ECSSR has carried out its mission to support national decision-making and serve both the UAE and GCC societies in a manner that is mindful of tradition, yet embraces modernity. It has enriched the catalogue of Gulf, Arab and international research by exploring a broad range of topics and themes addressing local, regional, and international issues through around 1,000 publications and 800 events. By fostering and applying the principles of excellence in the field of strategic research, it has secured itself notable status as a think tank, locally, regionally and internationally, whilst also fulfilling its mission to invest in the UAE’s human resources.”
Al Suwaidi noted that the Center has always been committed to implementing the vision of H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and President of ECSSR, on the need to apply a clear strategy and approach, maintaining the capacity to assume responsibility and make decisions.
The Emirates Center for Strategic Studies and Research was established on March 14, 1994, following the instructions of H.H. Sheikh Khalifa bin Zayed Al Nahyan, the UAE President (may God bless him) – then the Crown Prince of Abu Dhabi– and became an academic institution of excellence and a think tank with great potential with the guidance and kind patronage of H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and President of ECSSR.
View the official and complete release in English by following this link: http://goo.gl/pNFp8M
Contacts
ECSSR
Media Department, +971-2-404-4433
media@ecssr.ae
TransRe Receives Authorization/Group Rating For UK Subsidiary
ME Newswire / Businesswire
NEW YORK - Wednesday, December 18th 2013
TransRe today announced that the UK’s Prudential Regulation Authority and Financial Conduct Authority have authorized TransRe London Limited to commence writing general reinsurance business with immediate effect.
TransRe London Limited has received the financial strength rating of A+ and the counterparty credit rating of A+ from Standard & Poor’s. The outlook assigned to both ratings is stable.
TransRe London Limited has received the financial strength rating of A (Excellent) and the issuer credit rating of a+ from A.M. Best. The outlook assigned to both ratings is stable.
These ratings are the same as those assigned to Transatlantic Reinsurance Company, the parent company of TransRe London Limited.
For all business enquiries, contact:
Paul Bonny, Chief Executive Officer
TransRe London Limited
T +44 (0)207 204 8602
Corn Exchange, 55 Mark Lane
pbonny@transre.com
London EC3R 7NE
About TransRe
TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic Reinsurance Company). TransRe, wholly owned by Alleghany Corporation (NYSE-Y), is a reinsurance organization headquartered in New York with operations worldwide. Since 1978, TransRe has been offering its clients the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks. Visit www.transre.com for additional information.
Contacts
TransRe
Thomas V. Cholnoky, 212-365-2292
Permalink: http://me-newswire.net/news/9527/en
NEW YORK - Wednesday, December 18th 2013
TransRe today announced that the UK’s Prudential Regulation Authority and Financial Conduct Authority have authorized TransRe London Limited to commence writing general reinsurance business with immediate effect.
TransRe London Limited has received the financial strength rating of A+ and the counterparty credit rating of A+ from Standard & Poor’s. The outlook assigned to both ratings is stable.
TransRe London Limited has received the financial strength rating of A (Excellent) and the issuer credit rating of a+ from A.M. Best. The outlook assigned to both ratings is stable.
These ratings are the same as those assigned to Transatlantic Reinsurance Company, the parent company of TransRe London Limited.
For all business enquiries, contact:
Paul Bonny, Chief Executive Officer
TransRe London Limited
T +44 (0)207 204 8602
Corn Exchange, 55 Mark Lane
pbonny@transre.com
London EC3R 7NE
About TransRe
TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic Reinsurance Company). TransRe, wholly owned by Alleghany Corporation (NYSE-Y), is a reinsurance organization headquartered in New York with operations worldwide. Since 1978, TransRe has been offering its clients the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks. Visit www.transre.com for additional information.
Contacts
TransRe
Thomas V. Cholnoky, 212-365-2292
Permalink: http://me-newswire.net/news/9527/en
Katalyst Expands Service Offering to the UK and Europe
HOUSTON - Wednesday, December 18th 2013 [ME NewsWire]
(BUSINESS WIRE)-- Katalyst, the industry’s leading E&P subsurface data management firm, announced today that it had acquired the UK tape transcription business from storage and information management company Iron Mountain. This acquisition, effective November 30th, brings Katalyst’s enhanced end-to-end services to oil and gas customers in the UK and Europe. Iron Mountain will retain all of their core services, including their highly secure storage and tape management services.
Customers will now benefit from leading technology solutions for subsurface data management, including Katalyst’s iGlass and SeismicZone solutions. Under the agreement, Iron Mountain will retain 25 percent ownership in Katalyst Data Management.
Perfect timing for end-to-end data management
“We’re incredibly pleased and excited about this partnership,” said Katalyst President Steve Darnell. “We have made a substantial commitment to growing our service offering through ongoing R&D. Now, we’re expanding geographically as well, reinforcing our leadership position in subsurface data management. We will be making significant investments over the next several months to bring additional services and technologies to the UK and Europe marketplace.”
Katalyst’s acquisition comes closely on the heels of another successful initiative. SeismicZone, launched this past August, is the industry’s first e-commerce site for securely viewing and licensing seismic data from multiple sources, dramatically expediting this time-consuming process. For more information, visitwww.seismiczone.com.
About Katalyst
Katalyst provides a complete end-to-end solution for E&P data assets through specialized services and technology, including the web-based iGlass solution for management and access of client’s geophysical assets. The specialized services include data capture (tape re-mastering and scanning), navigation loading, metadata capture, quality control, database hosting, digital storage, order fulfillment, and disaster recovery of geophysical assets. To learn more about Katalyst, visit www.katalystdm.com.
Contacts
Katalyst
Steve Darnell, +1 281.529.3202
President
Steve.Darnell@katalystdm.com
Alan Clarke, +44 (0)1795 592375
UK Operations Manager
Alan.Clarke@katalystdm.com
Patrick Peck, +1 281.529.3215
Vice President, Sales & Marketing
Pat.Peck@katalystdm.com
Permalink: http://www.me-newswire.net/news/9525/en
(BUSINESS WIRE)-- Katalyst, the industry’s leading E&P subsurface data management firm, announced today that it had acquired the UK tape transcription business from storage and information management company Iron Mountain. This acquisition, effective November 30th, brings Katalyst’s enhanced end-to-end services to oil and gas customers in the UK and Europe. Iron Mountain will retain all of their core services, including their highly secure storage and tape management services.
Customers will now benefit from leading technology solutions for subsurface data management, including Katalyst’s iGlass and SeismicZone solutions. Under the agreement, Iron Mountain will retain 25 percent ownership in Katalyst Data Management.
Perfect timing for end-to-end data management
“We’re incredibly pleased and excited about this partnership,” said Katalyst President Steve Darnell. “We have made a substantial commitment to growing our service offering through ongoing R&D. Now, we’re expanding geographically as well, reinforcing our leadership position in subsurface data management. We will be making significant investments over the next several months to bring additional services and technologies to the UK and Europe marketplace.”
Katalyst’s acquisition comes closely on the heels of another successful initiative. SeismicZone, launched this past August, is the industry’s first e-commerce site for securely viewing and licensing seismic data from multiple sources, dramatically expediting this time-consuming process. For more information, visitwww.seismiczone.com.
About Katalyst
Katalyst provides a complete end-to-end solution for E&P data assets through specialized services and technology, including the web-based iGlass solution for management and access of client’s geophysical assets. The specialized services include data capture (tape re-mastering and scanning), navigation loading, metadata capture, quality control, database hosting, digital storage, order fulfillment, and disaster recovery of geophysical assets. To learn more about Katalyst, visit www.katalystdm.com.
Contacts
Katalyst
Steve Darnell, +1 281.529.3202
President
Steve.Darnell@katalystdm.com
Alan Clarke, +44 (0)1795 592375
UK Operations Manager
Alan.Clarke@katalystdm.com
Patrick Peck, +1 281.529.3215
Vice President, Sales & Marketing
Pat.Peck@katalystdm.com
Permalink: http://www.me-newswire.net/news/9525/en
Richard Relyea Elected to the Quintiles Transnational Holdings Inc. Board of Directors
RESEARCH TRIANGLE PARK, N.C. - Wednesday, December 18th 2013 [ME NewsWire]
(BUSINESS WIRE)-- Quintiles announced today that Mr. Richard Relyea has been elected to its board of directors. Mr. Relyea was designated by equity investor 3i to fill a vacancy on the Quintiles Transnational Holdings Inc. board of directors. This comes as the result of Mr. Denis Ribon’s pending departure from 3i and resulting resignation from the Quintiles board.
Pursuant to the Quintiles Transnational Holdings Inc. shareholders agreement, 3i retains the right to designate a replacement to the board. Prior to the Quintiles IPO, Mr. Relyea served as 3i’s observer to the Quintiles board.
Mr. Relyea joined 3i in 2007 as a member of the North American Private Equity team. He has been involved in 3i’s investments in Mold Masters (Canada), Quintiles (US) and Hilite (Germany).
Prior to joining 3i, Relyea was a principal at Halyard Capital where he invested in companies in the media, business services and communications sectors. He also served as an associate at Entrade, where he invested in technology and internet infrastructure businesses. Relyea began his career at Security Capital's Preferred Growth Private Equity fund, investing in real estate operating companies and investment trusts. He is actively involved in several non-profit organizations and is president of the New York Private Equity Network. Mr. Relyea received a B.A. in economics from Williams College.
About Quintiles
Quintiles (NYSE: Q) is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 28,000 employees conducting business in approximately 100 countries. We have helped develop or commercialize all of the top-50 best-selling drugs on the market. Quintiles applies the breadth and depth of our service offerings along with extensive therapeutic, scientific and analytics expertise to help our customers navigate an increasingly complex healthcare environment as they seek to improve efficiency and effectiveness in the delivery of better healthcare outcomes. To learn more about Quintiles, please visit www.quintiles.com.
Click here to subscribe to Mobile Alerts for Quintiles.
Contacts
Quintiles
Phil Bridges, Media Relations
+ 1.919.998.1653 (office) +1.919.457.6347 (mobile)
(phil.bridges@quintiles.com)
Karl Deonanan, Investor Relations
+1.919.998.2789, (InvestorRelations@quintiles.com)
Permalink: http://me-newswire.net/news/9526/en
(BUSINESS WIRE)-- Quintiles announced today that Mr. Richard Relyea has been elected to its board of directors. Mr. Relyea was designated by equity investor 3i to fill a vacancy on the Quintiles Transnational Holdings Inc. board of directors. This comes as the result of Mr. Denis Ribon’s pending departure from 3i and resulting resignation from the Quintiles board.
Pursuant to the Quintiles Transnational Holdings Inc. shareholders agreement, 3i retains the right to designate a replacement to the board. Prior to the Quintiles IPO, Mr. Relyea served as 3i’s observer to the Quintiles board.
Mr. Relyea joined 3i in 2007 as a member of the North American Private Equity team. He has been involved in 3i’s investments in Mold Masters (Canada), Quintiles (US) and Hilite (Germany).
Prior to joining 3i, Relyea was a principal at Halyard Capital where he invested in companies in the media, business services and communications sectors. He also served as an associate at Entrade, where he invested in technology and internet infrastructure businesses. Relyea began his career at Security Capital's Preferred Growth Private Equity fund, investing in real estate operating companies and investment trusts. He is actively involved in several non-profit organizations and is president of the New York Private Equity Network. Mr. Relyea received a B.A. in economics from Williams College.
About Quintiles
Quintiles (NYSE: Q) is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 28,000 employees conducting business in approximately 100 countries. We have helped develop or commercialize all of the top-50 best-selling drugs on the market. Quintiles applies the breadth and depth of our service offerings along with extensive therapeutic, scientific and analytics expertise to help our customers navigate an increasingly complex healthcare environment as they seek to improve efficiency and effectiveness in the delivery of better healthcare outcomes. To learn more about Quintiles, please visit www.quintiles.com.
Click here to subscribe to Mobile Alerts for Quintiles.
Contacts
Quintiles
Phil Bridges, Media Relations
+ 1.919.998.1653 (office) +1.919.457.6347 (mobile)
(phil.bridges@quintiles.com)
Karl Deonanan, Investor Relations
+1.919.998.2789, (InvestorRelations@quintiles.com)
Permalink: http://me-newswire.net/news/9526/en
61% of Life Sciences Execs Identify “Changing Commercial Business Model” as Major Pain Point in Survey by Cegedim Relationship Management
Global Thought Leadership Survey Report Uncovers New Trends in Multichannel Strategy, Innovation, Social Media, and Technology & Process Changes
PARIS - Wednesday, December 18th 2013 [ME NewsWire]
(BUSINESS WIRE) Cegedim Relationship Management today announced the release of their latest thought leadership report, 2013 Global Life Sciences Insights, which offers an analysis of the results of a global survey of Life Sciences decision makers on industry-wide pain points, innovation as a path to growth, and solution strategies.
The Shape of Change: Industry Challenges, Changes to the Business Model and Innovation Trends When asked to rank “the issues that keep you up at night,” 61% of respondents indicated the changing commercial business model; followed closely by regulatory reform (57%). In terms of current operational changes, participants resoundingly identified an increased focus on market access strategies (54%) and primary sales force realignment (46%) as top priorities. Further, 34% report that their companies have a head of innovation and dedicated innovation budgets, positioning themselves for sustained growth.
Multichannel Engagement and Expansion of Social Media Judging from survey responses, companies understand the value and potential of employing a multichannel engagement strategy to effectively connect with today’s brand of customers and stakeholders, with 27% reporting to be in the implementation phase, 25% in the development process, and 8% having fully deployed a multichannel strategy at their respective companies. In terms of social tools, LinkedIn has the deepest penetration with 60% reporting that they use this platform for professional purposes at least once a week; and 43% doing the same with Google+. Social media is most commonly used as a tool for marketing (57%) and public relations (48%).
“Having evolved through many changes over the past several years, Life Sciences companies are now functioning within a new reality, and are leveraging technology to reach their multi-stakeholders via multichannel,” said Laurent Labrune, Chief Executive Officer of Cegedim Relationship Management. “Innovation in all of its forms is the key to success in today’s market. Whether it’s embracing a multichannel engagement strategy, implementing new business processes, or enabling changes to the commercial business model – companies must employ the latest technology solutions available to them – the technology solutions that will help them stay ahead of the competition.”
Please click here to access the full survey report, 2013 Global Life Sciences Insights
About Cegedim Relationship Management:
Cegedim Relationship Management is the Life Sciences industry’s leading provider of Customer Relationship Management (CRM) solutions. Designed specifically for Life Sciences, the company’s innovative business solutions incorporate a thorough understanding of local, regional and worldwide trends. Cegedim Relationship Management enables more than 200,000 users in many of the world’s most innovative companies to stay ahead of market challenges. In addition to CRM, Cegedim Relationship Management also provides marketing, data optimization and regulatory compliance solutions in more than 80 countries. Cegedim Relationship Management is part of the France-based Cegedim S.A. Group. To learn more, please visit: www.CegedimRM.com. Follow Cegedim Relationship Management on LinkedIn and Twitter.
About Cegedim:
Founded in 1969, Cegedim is a global technology and services company specializing in the healthcare field. Cegedim supplies services, technological tools, specialized software, data flow management services and databases. Its offerings are targeted notably at healthcare industries, life sciences companies, healthcare professionals and insurance companies. The world leader in life sciences CRM, Cegedim is also one of the leading suppliers of strategic healthcare industry data. Cegedim employs 8,100 people in more than 80 countries and generated revenue of €922 million in 2012. Cegedim SA is listed in Paris (EURONEXT: CGM). To learn more, please visit: www.cegedim.com. And follow Cegedim on Twitter: @CegedimGroup.
Contacts
Drew BUSTOS, Tel.: +1 (908) 443.2451
Cegedim Relationship Management
Global Communications
drew.bustos@cegedim.com
Aude BALLEYDIER, Tel.: +33 (0)1 49 09 68 81
Cegedim
Media Relations
aude.balleydier@cegedim.fr
Permalink: http://me-newswire.net/news/9516/en
PARIS - Wednesday, December 18th 2013 [ME NewsWire]
(BUSINESS WIRE) Cegedim Relationship Management today announced the release of their latest thought leadership report, 2013 Global Life Sciences Insights, which offers an analysis of the results of a global survey of Life Sciences decision makers on industry-wide pain points, innovation as a path to growth, and solution strategies.
The Shape of Change: Industry Challenges, Changes to the Business Model and Innovation Trends When asked to rank “the issues that keep you up at night,” 61% of respondents indicated the changing commercial business model; followed closely by regulatory reform (57%). In terms of current operational changes, participants resoundingly identified an increased focus on market access strategies (54%) and primary sales force realignment (46%) as top priorities. Further, 34% report that their companies have a head of innovation and dedicated innovation budgets, positioning themselves for sustained growth.
Multichannel Engagement and Expansion of Social Media Judging from survey responses, companies understand the value and potential of employing a multichannel engagement strategy to effectively connect with today’s brand of customers and stakeholders, with 27% reporting to be in the implementation phase, 25% in the development process, and 8% having fully deployed a multichannel strategy at their respective companies. In terms of social tools, LinkedIn has the deepest penetration with 60% reporting that they use this platform for professional purposes at least once a week; and 43% doing the same with Google+. Social media is most commonly used as a tool for marketing (57%) and public relations (48%).
“Having evolved through many changes over the past several years, Life Sciences companies are now functioning within a new reality, and are leveraging technology to reach their multi-stakeholders via multichannel,” said Laurent Labrune, Chief Executive Officer of Cegedim Relationship Management. “Innovation in all of its forms is the key to success in today’s market. Whether it’s embracing a multichannel engagement strategy, implementing new business processes, or enabling changes to the commercial business model – companies must employ the latest technology solutions available to them – the technology solutions that will help them stay ahead of the competition.”
Please click here to access the full survey report, 2013 Global Life Sciences Insights
About Cegedim Relationship Management:
Cegedim Relationship Management is the Life Sciences industry’s leading provider of Customer Relationship Management (CRM) solutions. Designed specifically for Life Sciences, the company’s innovative business solutions incorporate a thorough understanding of local, regional and worldwide trends. Cegedim Relationship Management enables more than 200,000 users in many of the world’s most innovative companies to stay ahead of market challenges. In addition to CRM, Cegedim Relationship Management also provides marketing, data optimization and regulatory compliance solutions in more than 80 countries. Cegedim Relationship Management is part of the France-based Cegedim S.A. Group. To learn more, please visit: www.CegedimRM.com. Follow Cegedim Relationship Management on LinkedIn and Twitter.
About Cegedim:
Founded in 1969, Cegedim is a global technology and services company specializing in the healthcare field. Cegedim supplies services, technological tools, specialized software, data flow management services and databases. Its offerings are targeted notably at healthcare industries, life sciences companies, healthcare professionals and insurance companies. The world leader in life sciences CRM, Cegedim is also one of the leading suppliers of strategic healthcare industry data. Cegedim employs 8,100 people in more than 80 countries and generated revenue of €922 million in 2012. Cegedim SA is listed in Paris (EURONEXT: CGM). To learn more, please visit: www.cegedim.com. And follow Cegedim on Twitter: @CegedimGroup.
Contacts
Drew BUSTOS, Tel.: +1 (908) 443.2451
Cegedim Relationship Management
Global Communications
drew.bustos@cegedim.com
Aude BALLEYDIER, Tel.: +33 (0)1 49 09 68 81
Cegedim
Media Relations
aude.balleydier@cegedim.fr
Permalink: http://me-newswire.net/news/9516/en
Tuesday, December 17, 2013
ZTE Statement on Setting Aside of Court Injunction in Litigation with Vringo in India
ME Newswire / Business Wire
SHENZHEN, China - Wednesday, December 18th 2013
ZTE Corporation is pleased that the Delhi High Court set aside the injunction sought against the company’s products by Vringo Inc. ZTE’s business operations in India are unaffected by the litigation.
ZTE is confident of a positive outcome in the litigation in India as the company continues to defend Vringo’s complaints vigorously. ZTE reserves the right to pursue legal action against Vringo in different jurisdictions to minimize disruptions to our business and our customers.
“ZTE fully respects the intellectual property of other companies, and is committed to completing licensing agreements with patent holders on the FRAND (fair, reasonable and non-discriminatory) principle,” said Mr. Shen Jianfeng, Chief Intellectual Property Officer at ZTE. “We steadfastly oppose the anti-competitive use of patents by holders as a tactic for unreasonable demands.”
About ZTE
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 160 countries, helping them to meet the changing needs of their customers while growing revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Edelman PR
Mark Lee, +852 2837 4756
mark.lee@edelman.com
Andres Vejarano, +852 2837 4735
andres.vejarano@edelman.com
Permalink: http://www.me-newswire.net/news/9524/en
SHENZHEN, China - Wednesday, December 18th 2013
ZTE Corporation is pleased that the Delhi High Court set aside the injunction sought against the company’s products by Vringo Inc. ZTE’s business operations in India are unaffected by the litigation.
ZTE is confident of a positive outcome in the litigation in India as the company continues to defend Vringo’s complaints vigorously. ZTE reserves the right to pursue legal action against Vringo in different jurisdictions to minimize disruptions to our business and our customers.
“ZTE fully respects the intellectual property of other companies, and is committed to completing licensing agreements with patent holders on the FRAND (fair, reasonable and non-discriminatory) principle,” said Mr. Shen Jianfeng, Chief Intellectual Property Officer at ZTE. “We steadfastly oppose the anti-competitive use of patents by holders as a tactic for unreasonable demands.”
About ZTE
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 160 countries, helping them to meet the changing needs of their customers while growing revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Edelman PR
Mark Lee, +852 2837 4756
mark.lee@edelman.com
Andres Vejarano, +852 2837 4735
andres.vejarano@edelman.com
Permalink: http://www.me-newswire.net/news/9524/en
Future of Urban Mobility Ranking Shows Most Cities are Still Badly Equipped for Tomorrow's Mobility Challenges and Identifies Strategic Recommendations
ME Newswire / Businesswire
BRUSSELS - Tuesday, December 17th 2013
The new version of the ‘Future of Urban Mobility’ study includes an update of Arthur D. Little’s Urban Mobility Index, assessing the world’s cities in terms of mobility maturity and performance and together with the International Association of Public Transport (UITP) identifies strategic directions and recommendations for cities to better shape their future.
The study includes an updated version of the Arthur D. Little Urban Mobility Index, with an extended scope of 84 cities worldwide. The index reveals that most cities are still badly equipped to cope with the mobility challenges ahead indicating there is still significant potential for improvement. Hong Kong topped this year’s ranking, followed closely by Stockholm and Amsterdam. Copenhagen and Vienna rounded out the top five.
Together with UITP, the study identifies three strategic directions for cities as well as 25 imperatives to consider by cities to shape their future. By 2050, 60% of the world’s population will be living in urban areas, meaning greater innovation will be needed in the future to address the increasing demand for urban journeys, requiring a system-level approach.
“The development of urban mobility systems that are able to respond to this enormous increase in demand - as well as changing mobility needs - is one of the greatest challenges facing cities today,” noted UITP Secretary General, Alain Flausch “This study highlights that whilst there are great efforts being made to boost the attractiveness, capacity and efficiency of urban mobility systems, we need more system-level innovation.”
“Urban mobility is one of the toughest challenges facing mobility eco-system actors,” said François-Joseph Van Audenhove, Partner at Arthur D. Little. “There are plenty of solutions and business models available, but very few have yet managed to smartly integrate them to unleash their full business potential.”
Note to Editors
The International Association of Public Transport (UITP) is the international network for public transport authorities and operators, policy decision-makers, scientific institutes and the public transport supply and service industry. It is a platform for worldwide cooperation, business development and the sharing of know-how between its 3,400 members from 92 countries. UITP is the global advocate of public transport and sustainable mobility, and the promoter of innovations in the sector. www.uitp.org
Founded in 1886, Arthur D. Little is the world’s first management consulting firm, linking strategy, technology and innovation to offer its clients sustainable solutions to their most complex business problems. Arthur D. Little has a collaborative client engagement style, exceptional people and a firm-wide commitment to quality and integrity. Arthur D. Little has 26 offices worldwide and serves many of the Fortune 100 companies globally, in addition to many other leading firms and public sector organizations. www.adl.com
Contacts
Arthur D. Little
Say Communication
Sue Glanville / Cate Bonthuys
+44 (0)20 8971 6400
arthurdlittle@saycomms.co.uk
UITP
Andrew Canning, +32 2 663 66 39
Press & Media Manager
andrew.canning@uitp.org
Twitter: @UITPpressoffice
Sylvie Cappaert-Blondelle, +32 2 661 31 91
Director Communications & Publications
sylvie.cappaert@uitp.org
Permalink: http://me-newswire.net/news/9522/en
BRUSSELS - Tuesday, December 17th 2013
The new version of the ‘Future of Urban Mobility’ study includes an update of Arthur D. Little’s Urban Mobility Index, assessing the world’s cities in terms of mobility maturity and performance and together with the International Association of Public Transport (UITP) identifies strategic directions and recommendations for cities to better shape their future.
The study includes an updated version of the Arthur D. Little Urban Mobility Index, with an extended scope of 84 cities worldwide. The index reveals that most cities are still badly equipped to cope with the mobility challenges ahead indicating there is still significant potential for improvement. Hong Kong topped this year’s ranking, followed closely by Stockholm and Amsterdam. Copenhagen and Vienna rounded out the top five.
Together with UITP, the study identifies three strategic directions for cities as well as 25 imperatives to consider by cities to shape their future. By 2050, 60% of the world’s population will be living in urban areas, meaning greater innovation will be needed in the future to address the increasing demand for urban journeys, requiring a system-level approach.
“The development of urban mobility systems that are able to respond to this enormous increase in demand - as well as changing mobility needs - is one of the greatest challenges facing cities today,” noted UITP Secretary General, Alain Flausch “This study highlights that whilst there are great efforts being made to boost the attractiveness, capacity and efficiency of urban mobility systems, we need more system-level innovation.”
“Urban mobility is one of the toughest challenges facing mobility eco-system actors,” said François-Joseph Van Audenhove, Partner at Arthur D. Little. “There are plenty of solutions and business models available, but very few have yet managed to smartly integrate them to unleash their full business potential.”
Note to Editors
The International Association of Public Transport (UITP) is the international network for public transport authorities and operators, policy decision-makers, scientific institutes and the public transport supply and service industry. It is a platform for worldwide cooperation, business development and the sharing of know-how between its 3,400 members from 92 countries. UITP is the global advocate of public transport and sustainable mobility, and the promoter of innovations in the sector. www.uitp.org
Founded in 1886, Arthur D. Little is the world’s first management consulting firm, linking strategy, technology and innovation to offer its clients sustainable solutions to their most complex business problems. Arthur D. Little has a collaborative client engagement style, exceptional people and a firm-wide commitment to quality and integrity. Arthur D. Little has 26 offices worldwide and serves many of the Fortune 100 companies globally, in addition to many other leading firms and public sector organizations. www.adl.com
Contacts
Arthur D. Little
Say Communication
Sue Glanville / Cate Bonthuys
+44 (0)20 8971 6400
arthurdlittle@saycomms.co.uk
UITP
Andrew Canning, +32 2 663 66 39
Press & Media Manager
andrew.canning@uitp.org
Twitter: @UITPpressoffice
Sylvie Cappaert-Blondelle, +32 2 661 31 91
Director Communications & Publications
sylvie.cappaert@uitp.org
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