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Galata Chemicals to produce Tin Stabilizers and Intermediates at Dahej, India

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Galata Chemicals to produce Tin Stabilizers and Intermediates at Dahej, India

Galata Chemicals to produce Tin Stabilizers and Intermediates at Dahej, India

(PRESS RELEASE) LAMPERTHEIM, Germany, 3-Sep-2020 — /EuropaWire/ — Galata Chemicals, a leading global producer of plastic additives, announced the commissioning of its newest Tin Stabilizer production facility in Dahej, India. This facility will produce Methyl, Butyl, and Octyl Tin Stabilizers, further expanding the global reach of its Mark® Tin Stabilizer portfolio. With products already commercially approved by several leading PVC and CPVC processors, this new facility is well positioned to serve both the domestic Indian market as well as international sectors.

“The product validation by our customers was a crucial step in making the decision to forge ahead with capital investment despite challenging market conditions driven by the COVID-19 pandemic. This expansion demonstrates Galata’s commitment to the Indian and global vinyl markets,” said Drew Clock– Executive Vice President, Galata Chemicals Global Group. This will be Galata’s fourth Tin Stabilizer facility after Taft (Louisiana, USA), Bradford (Ontario, Canada), and Lampertheim, (Germany).

Additionally, the site will begin production of Tin Intermediates including Tetrabutyltin (TBT), a precursor to Butyl Tin Stabilizers. “Producing the final product is only one part of the story. Backward integration is the keystone to long term manufacturing and commercial success. This is the next stage of Galata’s evolution and will not be the last.” said Drew Clock.

Used in a wide range of applications including PVC Pipes and fittings, sheet extrusion, and injection molding, Mark® Tin Stabilizers have led the industry in quality, value, and performance for decades. The newest investments in India will serve the existing Tin Stabilizer Vinyl markets as well as focus on providing lead-free solutions in order to meet stricter regulatory requirements.

Media contacts:

James Dong
Galata Chemicals
464 Heritage Road
Southbury, CT 06488
james.dong@galatachemicals.com
https://www.galatachemicals.com

Photos:

Galata Chemicals, a leading global producer of #plastic #additives, announced the commissioning of its newest Tin Stabilizer production facility in #Dahej, India

Galata Chemicals, a leading global producer of plastic additives, announced the commissioning of its newest Tin Stabilizer production facility in Dahej, India

Galata Chemicals' new facility in #Dahej, India will produce #Methyl, #Butyl, and #Octyl Tin Stabilizers, further expanding the global reach of its Mark® Tin Stabilizer portfolio

Galata Chemicals’ new facility in Dahej, India will produce Methyl, Butyl, and Octyl Tin Stabilizers, further expanding the global reach of its Mark® Tin Stabilizer portfolio

With products already commercially approved by several leading #PVC and #CPVC processors, Galata Chemicals' new facility in #Dahej, India is well positioned to serve both the domestic Indian market as well as international sectors

With products already commercially approved by several leading PVC and CPVC processors, Galata Chemicals’ new facility in Dahej, India is well positioned to serve both the domestic Indian market as well as international sectors

Drew Clock, Executive VP, Galata Chemicals: This expansion demonstrates Galata’s commitment to the Indian and global #vinyl markets

Drew Clock, Executive VP, Galata Chemicals: This expansion demonstrates Galata’s commitment to the Indian and global vinyl markets

Galata Chemicals' new facility in #Dahej, India will be the company's fourth Tin Stabilizer facility after #Taft (Louisiana, USA), #Bradford (Ontario, Canada), and #Lampertheim, (Germany)

Galata Chemicals’ new facility in Dahej, India will be the company’s fourth Tin Stabilizer facility after Taft (Louisiana, USA), Bradford (Ontario, Canada), and Lampertheim, (Germany)

SOURCE: Galata Chemicals

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LafargeHolcim invests more than 90M EUR in waste heat recovery systems in India

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LafargeHolcim invests more than 90M EUR on waste heat recovery systems in India

  • Thermal heat electricity part of reducing energy-related emissions by 65% by 2030
  • Builds on company’s partnerships with power producers worldwide to accelerate use of renewable energy

(PRESS RELEASE) ZUG, 3-Dec-2020 — /EuropaWire/ — Global leader in building materials and solutions LafargeHolcim announces an investment of more than 90M EUR (CHF 100M) in waste heat recovery across six sites in India. This investment will reduce 0.5 million tons of CO2 emissions per year thus accelerating its net zero journey. The project will be completed in the next two years, doubling LafargeHolcim’s waste heat recovery systems, which use thermal heat to produce decarbonized electricity.

As part of its net zero roadmap, LafargeHolcim aims to reduce its scope 2 emissions by 65% by 2030 compared to its 2018 baseline. This objective will be delivered through a number of measures, from waste heat recovery to investing in renewable energy. Scope 2 includes indirect emissions from the generation of purchased electricity consumed in the company’s owned or controlled equipment.

The company is also actively partnering with power producers worldwide to install renewable energy facilities across its sites and increase its share of renewable energy from the grid. For example, LafargeHolcim has installed wind turbines at its Paulding plant in the United States that eliminate at least 9,000 tons of CO2 annually. In Argentina, over 30% of electricity comes from renewable sources. Most recently in Leffe, Belgium, the company is setting up a wind power plant that will supply more than 75% of its quarry’s electricity.

Magali Anderson, Chief Sustainability Officer, says: “On our net zero journey, we set ourselves an ambitious scope 2 target. I am very excited to see India leading the way by investing CHF 100m in waste heat recovery. This major step forward builds on our procurement teams’ work in renewable energy.”

“Procurement plays a key role in LafargeHolcim’s climate action. That’s why we are engaging in a number of renewable energy partnerships around the world to install wind turbines and solar panel farms to power our sites. In addition, we are purchasing energy from renewable sources wherever it is feasible,” adds Mario Gross, Chief Procurement Officer.

About LafargeHolcim
As the world’s global leader in building solutions, LafargeHolcim is reinventing how the world builds to make it greener and smarter for all. On its way to becoming a net zero company, LafargeHolcim offers global solutions such as ECOPact, enabling carbon-neutral construction. With its circular business model, the company is a global leader in recycling waste as a source of energy and raw materials through products like Susteno, its leading circular cement. Innovation and digitalization are at the core of the company’s strategy, with more than half of its R&D projects dedicated to greener solutions. LafargeHolcim’s 70,000 employees are committed to improving quality of life across more than 70 markets through its four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.
 

Media contacts
media@lafargeholcim.com
Zug: ​+41 (0) 58 858 87 10

Investor relations contacts
investor.relations@lafargeholcim.com
Zug: +41 (0) 58 858 87 87

SOURCE: LafargeHolcim

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Bengaluru Metro to automate new rail line with Siemens Mobility communications-based train control (CBTC) system at GoA 4

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Bengaluru Metro to automate new rail line with Siemens Mobility communications-based train control (CBTC) system

(PRESS RELEASE)MUNICH, 10-Dec-2020 — /EuropaWire/ — Siemens Mobility and Siemens Limited India to implement a comprehensive set of automated train solutions for phase 2 of the Bengaluru metro expansion project. This partnership with Bengaluru Metro Rail Corporation Limited (BMRCL) is the first CBTC project in India with GoA 4, the highest grade of automation that allows for trains to be automatically controlled and operated. Siemens Mobility’s communications-based train control (CBTC) system which will feature electronic interlockings, an automatic train protection and supervision system, as well as a telecommunication system, will be installed across 18.8 km of the Yellow Line. BMRCL will be able to run trains 90 seconds apart with the automated signaling and train operations, providing greater availability and an enhanced passenger experience.

“Siemens Mobility is excited to partner with Bengaluru Metro Rail on this groundbreaking project that will provide this new rail line with the highest grade of signaling technology and automation services, said Michael Peter, CEO of Siemens Mobility. “Our state of the art CBTC signaling at GoA 4 will allow trains to operate driverless, as they will be automatically controlled and supervised without any onboard intervention. This will deliver a truly modern system featuring superior availability, reliability and passenger experience.”

Bengaluru is the capital of the Indian state of Karnataka and its urban area population is estimated at more than 12 million. Bengaluru is widely regarded as the “Silicon Valley” or IT capital of India because of its role as the nation’s leading IT exporter.

The Bengaluru metro system, commonly called the Namma Metro, is being built in stages. Phase 1 was made operational in June 2017 and has a daily ridership of 450,000. The system covers 42.3 km and serves 40 stations, with lines running north/south and east/west. The currently under construction Phase 2, plans to cover 72.1 km and add two new lines that will further extend the system on its existing grid. The 18.8 km on the Yellow Line that will be equipped with Siemens Mobility CBTC technology will have 16 elevated stations.

The Siemens Mobility high-performance CBTC system lets operators maximize their network capacity and throughput. The radio-based technology provides real-time data on vehicle position and speed conditions, allowing system operators to safely increase the number of vehicles on a rail line. Additionally, the technology precisely locates each train on the tracks and controls speed, improving safety for riders and employees, while also providing the ability for continuous updates on system status that results in fewer delays and up-to-date travel information.

The Siemens Mobility CBTC solution is the most extensively deployed automatic train control system and is used by operators around the world, like Sao Paulo, Paris, Beijing, Singapore, and New York.

Media contact:

Chris Mckniff
Siemens Mobility GmbH
+1 646-715-6423
chris.mckniff@siemens.com

SOURCE: Siemens

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Enel X announces partnership with Sterling and Wilson to accelerate deployment of EV charging infrastructure in India

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Enel X announces partnership with Sterling and Wilson to accelerate deployment of EV charging infrastructure in India

  • The purpose of the JV is to market and distribute products for electric vehicle private and public charging businesses across India

(PRESS RELEASE) ROME, Italy/ MUMBAI, India, 26-Feb-2021 — /EuropaWire/ — Enel X announces that it has entered into a 50-50 joint venture (JV) with Sterling and Wilson Pvt Ltd (SWPL) aimed at accelerating the electric vehicle (EV) uptake in the Indian subcontinent. From April 2021, the JV will leverage Enel X’s technological know-how and e-Mobility experience as well as the engineering, operations and deployment expertise of SWPL to promote the adoption of EV charging infrastructure in the Indian subcontinent. Enel X is Enel Group’s advanced energy solutions business line and Sterling and Wilson Pvt Ltd (SWPL) is a Shapoorji Pallonji group company and India’s leading engineering, procurement and construction (EPC) company.

Francesco Venturini, Enel X CEO, said: “This partnership represents an important step forward in our energy transition strategy. We are leading the spread of electric mobility in several global markets, including Europe and North America and we are thrilled to work with Sterling and Wilson, marking our entry into the Indian market. Joining forces allows our teams to leverage our extensive market knowledge and technical experience, helping to deliver effective results, as well as making important steps towards a clean and sustainable future. We will support the JV by bringing electric mobility solutions to market that are fit for local needs, accessible, and convenient for all drivers, significantly contributing to the decarbonization of the transport sector across India and subsequently South East Asia.”

Sanjay Jadhav, Sterling Generators Pvt Ltd CEO said: “As part of our commitment to sustainability, we are happy to announce our entry into the electric mobility segment through a joint venture with Enel X, providing end-to-end services for electric vehicle charging stations across India. The quick electric charger will be a game-changer for the EV sector in the country and is in line with the national vision to combat fossil fuel pollution and associated climate change through accelerated electrification of private and public transportation as a prime lever. The JV will help create direct and indirect employment through local manufacturing and operations & maintenance services of the charging infrastructure.”

The JV will target private and public EV charging infrastructure and will benefit from the support of its shareholders. The new business will market and distribute solutions that already have worldwide recognition, including JuiceBox and JuicePump, which have been licensed by Enel X, adjusted to the needs of India. In addition, the JV will contribute to the spread of reliable and connected charging infrastructures and technology, with Enel X’s charging infrastructures’ back-end platform, tapping into the growth potential of the Indian market, as well as the software as a service (SaaS) business model.

The partnership is in line with the Enel Group’s commitment to boosting the development of electric mobility, which is a key element in the energy transition of smart cities. Enel X is driving the creation of public and private charging infrastructure and innovative services, to overcome usage barriers and to create new economic, social, and environmental value for all: shareholders, consumers, businesses, and public administrations.

India has joined the global electrification trend and, based on the 2020 BNEF forecast, is expected to go electric for 33% of its internal four wheels vehicles market by 2040. To meet this challenging goal, the Indian Government, since 2019, has been designing supporting policies like the “Faster Adoption and Manufacturing of Electric Vehicles” (FAME II phase) scheme and recently updating the Charging Infrastructure for EV Guidelines.

The joint venture between Enel X and Sterling and Wilson is expected to be incorporated on April 1st, 2021, and will start operating from the second quarter of 2021.

Enel X is Enel’s global business line dedicated to the development of innovative products and digital solutions in sectors where energy is showing the greatest potential for transformation: cities, homes, industries and electric mobility. The company is a global leader in the advanced energy solution sector, managing services such as demand response for around 6 GW of total capacity at global level and 116 MW of storage capacity installed worldwide, as well as a leading player in the electric mobility sector, with around 175,000 public and private EV charging points made available around the globe. Enel X designs and develops solutions focusing on sustainability and circular economy principles in order to provide people, communities, institutions and companies with an alternative model that respects the environment and integrates technological innovation into daily life.

Discover more on www.enelx.com/en and follow Enel X on social media channels:

LinkedIn: @EnelX

Twitter: @EnelXGlobal

Facebook: @EnelXGlobal

Instagram: @EnelXGlobal

Sterling and Wilson Group (S&W Group) is one of India’s leading engineering, procurement and construction (EPC) companies. The Group operates across the globe in more than 30 countries with a strong presence in regions such as the Middle East, Africa, Europe, the Americas and Australia. S&W Group has grown from a turnover of USD 402 million* in FY2012 to USD 1.4 billion** in FY2020. From being mainly focused on doing MEP projects in India, the Group over the past 10 years has set up global operations in MEP, Diesel Generator sets, Gas-based Power Plants, Turnkey Data Centers, Transmission & Distribution, and Solar EPC. With its recent foray into Energy Storage, Sterling and Wilson is perfectly poised to play a pivotal role in the global trend of moving away from thermal plants to a future of renewable energy with storage.  As a responsible corporate entity, Sterling and Wilson has been actively contributing to socio-economic development of the communities in which it operates, through various CSR activities.

https://sterlingandwilson.com/

*Currency conversion rate: 1 USD = Rs. 55.81 as on 12th June 2012
** Currency conversion rate: 1 USD = Rs. 73.45 as on 17th December 2020

Enel X Media Contact:
Media Relations
T +39 06 8305 5699
ufficiostampa@enel.com

Sterling and Wilson Media Contact:
Rahul Rao
Corporate Communications
Email – rahul.rao@sterlingwilson.com

SOURCE: Enel X S.r.l.

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Barry Callebaut inaugurates third chocolate factory in India

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Ribbon cutting ceremony at opening on March 10, 2021
(From left to right) Amol Nayak, Plant Manager for Barry Callebaut India, and Dhruva Jyoti Sanyal, Managing Director for Barry Callebaut India, officiating the chocolate factory’s opening, which marks an important step forward in advancing its business across more regions of India.

  • Barry Callebaut further strengthens its presence in the world’s second most populous country
  • Increased production of finest “Make in India” chocolates¹

(PRESS RELEASE) ZÜRICH, 11-Mar-2021 — /EuropaWire/ — The Barry Callebaut Group, the world’s leading manufacturer of high-quality chocolate and cocoa products, announces the inauguration of its new chocolate and compound manufacturing facility, located in Baramati, India. The ribbon cutting ceremony held on March 10, 2021 was officiated by Amol Nayak, Plant Manager and Dhruva Jyoti Sanyal, Managing Director of Barry Callebaut India. The chocolate factory’s opening, which marks an important step forward in advancing its business across more regions of India.

Barry Callebaut’s new factory is located about 250 km south-east of Mumbai and represents its biggest investment in India to date. The new chocolate factory and warehouse include an R&D lab and assembly lines capable of manufacturing chocolate and compound in different delivery formats, catering to the various needs of its customers – international food manufacturers, local confectioneries and semi-industrial bakers and patisseries.

“The new factory in Baramati celebrates India’s rich chocolate heritage and marks a new milestone in Barry Callebaut’s history of direct investment in India. It underlines our commitment to the world’s second most populous country, a confectionery market with great potential. In line with our ‘smart growth’ strategy, the new factory expands our local production footprint in the region”, commented Antoine de Saint-Affrique, CEO of the Barry Callebaut Group.

Once fully operational, the 20,000 square meter facility will employ between 100 to 120 people, thus creating new skilled jobs, mainly in engineering and production. The new plant also features a variety of energy and water-saving solutions in the areas of infrastructure, production equipment and the overall facility energy control system.

Finest “Make in India” chocolates¹

In addition to the new chocolate factory in Baramati, Barry Callebaut’s production network in India includes another chocolate factory in Pune (Maharashtra) and a specialties and decorations factory, also located in Baramati. Together with its existing CHOCOLATE ACADEMY™ Center and sales office in Mumbai, the company is well positioned to expand its work with customers to co-create innovative chocolate for local consumers.

Over the last four years, Barry Callebaut has seen double-digit growth in India, along with an enthusiastic consumer response towards innovative chocolate such as Ruby chocolate. Demand for high-quality chocolate has been rising, which has prompted a concurrent increase in domestic chocolate production.

Dhruva Jyoti Sanyal, Managing Director for Barry Callebaut India, said: “The opening of our new flagship chocolate factory marks an important step forward in advancing our business across more regions of India. This new facility underpins our ability to deliver a broad portfolio of locally produced chocolate products that meet the increasingly diversified needs of consumers in India’s fast-growing chocolate and cocoa market².”

The new factory in Baramati provides proximity to local customers. In addition to supplying industrial chocolate to food manufacturers and confectioneries, the factory in Baramati will also produce sustainable chocolate and compound products under the Van Houten Professional brand in the country. Barry Callebaut now offers a wide range of chocolate products in India. This includes specialties and decorations chocolates, which are also produced in Barry Callebaut’s existing factory in Baramati. These steps will help Barry Callebaut to achieve its ambition of manufacturing the finest “Make in India” chocolate.

¹“Make in India” is a major national programme initiated by the Government of India to encourage companies to manufacture in India.

²India is one of the fastest growing markets for the chocolate confectionery industry. The sales volume of chocolate confectionery in India grew +15% in 2019 and at a CAGR of +9% between 2014-2019, according to Nielsen.

Barry Callebaut Group Contacts

Nor Badron
Corporate Communications Director, Asia Pacific
+65 6486 7200

Frank Keidel
Head of Media Relations
+41 76 399 69 06​

Claudia Pedretti
Head of Investor Relations
+41 43 204 04 23

SOURCE: Barry Callebaut AG

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ŠKODA AUTO supports the fight against COVID-19 pandemic in India with one million euro worth donation

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ŠKODA AUTO supports the fight against COVID-19 pandemic in India with one million euro worth donation

  • As the Volkswagen Group brand responsible for the region, ŠKODA AUTO donates one million euros to help fight the COVID-19 pandemic in India
  • First part of in-kind and monetary donations is already on their way to the destination
  • Czech car manufacturer operates two production facilities in the Maharashtra region

(PRESS RELEASE) MLADÁ BOLESLAV, 31-May-2021 — /EuropaWire/ — Czech car manufacturer ŠKODA AUTO is sending financial resources and relief supplies worth a total of one million euros to India to support the local fight against the COVID-19 pandemic. The donation has been organised in partnership with the Volkswagen Group. ŠKODA AUTO is taking responsibility as an employer in the region to support the country in response to the serious humanitarian situation. The company is cooperating intensively with the KOVO trade union in this context.

Thomas Schäfer, ŠKODA AUTO CEO says: “Our donation is now on its way to India. I would like to thank all those involved who have actively helped with the planning, organisation and implementation of this initiative. We are delivering medical equipment, liquid oxygen tanks and an oxygen generator to help effectively the people in need. We remain concerned about the humanitarian situation in India. Every day we exchange information with our Indian friends there and hope that the circumstances will improve soon.”

The first part of the donations in-kind have already been shipped and are on their way to their destination, where the Indian Red Cross will distribute them quickly to clinics and aid organisations. The carmaker is in total sending items including medical equipment, an oxygen generator and liquid oxygen tanks. ŠKODA AUTO’s purchasing and logistics departments worked under high pressure to procure the relief supplies and send them to the crisis region as quickly as possible, despite the difficult conditions caused by the pandemic.

Gurpratap Boparai, Managing Director of ŠKODA AUTO Volkswagen India Private Limited (ŠAVWIPL) emphasises: “The current development of the coronavirus pandemic poses immense challenges for the people in our country. The situation in the medical facilities, in particular, is critical and they need all the help available. The generous in-kind and cash donations from our friends at ŠKODA AUTO will bring relief to the sick and relief workers.”

The rapid increase in the number of infections has led to a shortage in the availability of hospital beds, medical oxygen as well as medicines and has pushed the healthcare system to its limits. As a local employer in the region, ŠKODA AUTO bears a social responsibility in India. In cooperation with the Volkswagen Group, the Czech car manufacturer has therefore made around one million euros available to improve medical care in the region affected by the pandemic in the form of relief supplies and a cash donation to the German Red Cross.

ŠKODA AUTO is responsible for the Volkswagen Group’s activities on the Indian market and has a long-standing relationship of trust with local partners.

Media contact:

Jens Katemann
Head of Communications
e: jens.katemann@skoda-auto.cz
t: +420 326 811 778

SOURCE: ŠKODA AUTO a.s.

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Airbus further contributes to India COVID-19 relief efforts with 36 tonnes of additional medical equipment

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Airbus delivered a consignment of 250 oxygen concentrators and 30 ventilators as part of a 36-tonne Covid-19 solidarity mission to India on Wednesday, June 2, 2021.

An A350 test flight ferried the cargo from Toulouse, the headquarters of Airbus, to New Delhi

(PRESS RELEASE) NEW DELHI, India/ TOULOUSE, France, 2-Jun-2021 — /EuropaWire/ — World’s largest airliner manufacturer Airbus has delivered more than 36 tonnes of additional medical equipment to the Indian Red Cross Society (IRCS), doubling down on its response to the COVID-19 crisis in India. The company has also deployed humanitarian flights to move supplies from abroad as well as within the country.

Airbus is delivering oxygen plants, ventilators, oxygen concentrators, BPAP breathing machines and mobile intensive care units (ICUs), further boosting its individual contribution to the global humanitarian effort to tackle the second wave of COVID-19 infection in India. An A350 test aircraft delivered a part of the consignment comprising oxygen con centrators and ventilators from Airbus’ headquarters in Toulouse, France, on Wednesday. The remaining materials are sourced from India.

The latest mission is Airbus’ second tranche of support to the country. The Company has already contributed with funds to a consolidated response coordinated by the French embassy in India, which included the delivery of eight large oxygen generators, ventilators, electric syringe pumps, anti-bacterial filters and patient circuits as part of a 28-tonne consignment. Much of the equipment has been deployed, and it is helping save hundreds of lives across India.

“Airbus stands behind India in solidarity and service. Our focus is to support not only our employees, customers, and partners but also as many people of India as we can,” said Rémi Maillard, President and MD of Airbus India & South Asia. “This is our common fight against the virus and we at Airbus are committed to doing our best to help in these challenging times for India and the world.”

The latest contribution from Airbus comprises two oxygen generator plants, 250 oxygen concentrators, 30 ventilators, 100 BPAP breathing machines and four ICUs-on-wheels. Airbus is working with the Indian government and the IRCS, the nodal agency for handling of international aid, to ensure the smooth deployment of the materials.

Additionally, the Airbus Foundation is in touch with international and Indian NGO partners to support any need for transportation of relief materials from Europe. Airbus Foundation has also secured helicopter flight hours to move aid within India.

“The crisis is still unfolding. Its fallout will have to be managed over the coming many months,” Maillard said.

“Our Indian NGO partners are already evaluating the knock-on impact of the crisis on livelihoods and children’s education. Airbus will expand support to them to meet the additional challenges.”

For further information about Airbus Foundation, please click here

Media contacts:

Krittivas Mukherjee
Head of Communications – Airbus India & South Asia
+91 999 988 0819

Neha Vij
Communications – Airbus India
+91 981 040 8014

SOURCE: Airbus S.A.S.

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The 200 MW Kopili hydropower plant in India will get rehabilitated by the international technology Group ANDRITZ

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Hydropower plant Kopili, India © NEEPCO

The project is expected to be finished until third quarter 2023.

(PRESS RELEASE) GRAZ, 4-Aug-2021 — /EuropaWire/ — ANDRITZ GROUP, Austria-based international technology group active in the supplies of plants, equipment, systems and services across multiple industries, has announced it will be rehabilitating the electro-mechanical equipment of the 200 MW Kopili hydropower plant located on the Kopili River in Dima Hasao district of Assam, India as part of an order received from the Central Government owned utility, North Eastern Electric Power Corporation Ltd. (NEEPCO Ltd.).

ANDRITZ’s scope of supply includes detailed design and engineering, manufacture, transportation to the project site, supervision of the assembly, erection, testing as well as commissioning of the entire electro-mechanical equipment to be installed in the powerhouse of Kopili hydroelectric plant. Also included is the training of NEEPCO’s personnel in design, engineering, operation, and maintenance of the plant.

The rehabilitation works will be executed by the India hydro subsidiary of ANDRITZ with its state-of-the-art manufacturing facilities in Mandideep (near Bhopal) and Prithla (near Faridabad). This contract will be the second contract from NEEPCO to ANDRITZ, the first being the supply of the complete electro-mechanical equipment for the greenfield hydropower project Pare HEP (110 MW), which was awarded in 2011.

The award of this contract further strengthens ANDRITZ’s leading position on the Indian hydropower market.

– End –

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems and services for the pulp and paper industry, the hydropower sector, the metals processing and forming industry, pumps, solid/liquid separation in the municipal and industrial sectors, as well as animal feed and biomass pelleting. The global product and service portfolio is rounded off with plants for power generation, recycling, the production of nonwovens and panelboard, as well as automation and digital solutions offered under the brand name of Metris. The publicly listed group today has around 26,700 employees and more than 280 locations in over 40 countries.

ANDRITZ HYDRO
ANDRITZ Hydro is one of the globally leading suppliers of electromechanical equipment and services for hydropower plants. With over 180 years of experience and an installed fleet of more than 470 GW output, the business area provides complete solutions for hydropower plants of all sizes as well as services for plant diagnosis, refurbishment, modernization and upgrade of existing hydropower assets. Pumps for irrigation, water supply and flood control are also part of this business area’s portfolio.

Media contacts:

ANDRITZ GROUP
MICHAEL BUCHBAUER
michael.buchbauer@andritz.com

ANDRITZ HYDRO
ALEXANDER SCHWAB
alexander.schwab@andritz.com

SOURCE: ANDRITZ GROUP

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ANDRITZ Refining System Powers Greenply’s Inaugural Fiber Production Success

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From left to right: Christian Rosypal, Sales Engineer, ANDRITZ; Sanidhya Mittal, Joint Managing Director, Greenply; Michael Rupp, Vice President Panelboard Systems, ANDRITZ; Raman Poddar, Executive Vice President and Head of Manufacturing, Greenply © ANDRITZ

(IN BRIEF) Greenply Industries Limited has achieved a significant milestone by successfully producing its first batch of fibers using a state-of-the-art high-performance pressurized refining system from ANDRITZ. This accomplishment took place at their MDF production facility in Vadodara, Gujarat, India. The new refining system, with a capacity of 35 bdmt/h, processes wood chips to create various MDF products. It features an efficient S 1056M single disc refiner for pre-steaming, low energy consumption, and excellent dewatering. Greenply Industries Limited, a major player in India’s high-quality interiors manufacturing, offers a range of MDF products and holds FSC® certification for responsible forest management.

(PRESS RELEASE) GRAZ, 23-Aug-2023 — /EuropaWire/ — ANDRITZ, an international technology group, announces a remarkable achievement in the world of fiber production through its collaboration with Greenply Industries Limited. Greenply has achieved the successful production of its inaugural batch of fibers using our cutting-edge high-performance pressurized refining system at its esteemed MDF (medium-density fiberboard) production facility situated in Vadodara, Gujarat, India.

Sanidhya Mittal, Joint Managing Director, Greenply Industries Limited, says: The pressurized refining system from ANDRITZ is highly efficient and energy saving, which is in line with our environmentally friendly production process. We would like to thank ANDRITZ and its team for their assistance during the installation and the high level of professionalism throughout the whole project.”

The ANDRITZ refining system, boasting a robust design capacity of 35 bdmt/h, has played a pivotal role in transforming wood chips into an array of MDF products. Key to its operational excellence is the incorporation of the time-proven S 1056M single disc refiner, an innovation that enables unparalleled pre-steaming efficiency, remarkably low consumption of both electrical and thermal energy, and superior dewatering capabilities facilitated by the 20” plug screw feeder.

In line with our commitment to engineering excellence, the success achieved by Greenply Industries Limited in this significant milestone is a testament to the seamless integration of ANDRITZ’s innovative technologies within their production processes. This triumph exemplifies the limitless possibilities that emerge when industry leaders join forces to advance manufacturing capabilities.

Established in 1984, Greenply Industries Limited has consistently stood as a trailblazer in the field of high-quality interiors. Renowned for their diverse product portfolio encompassing plywood, decorative veneers, doors, and related items, Greenply holds the prestigious FSC® certification, underscoring their dedication to sustainable forest management practices.

The collaboration between ANDRITZ and Greenply Industries Limited marks a significant advancement in the MDF manufacturing landscape, setting new benchmarks for operational excellence and technological innovation. As a global leader in engineered solutions, ANDRITZ remains committed to empowering our partners with transformative technologies that drive progress across industries.

– End –

ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. Sustainability is an integral part of the company’s business strategy and corporate culture. With its extensive portfolio of sustainable products and solutions, ANDRITZ aims to make the greatest possible contribution to a sustainable future and help its customers achieve their sustainability goals. ANDRITZ is a global market leader in all four of its business areas – Pulp & Paper, Metals, Hydro and Separation. Technological leadership and global presence are cornerstones of the group’s strategy, which is focused on long-term profitable growth. The publicly listed group has around 29,900 employees and over 280 locations in more than 40 countries.

ANDRITZ PULP & PAPER
ANDRITZ Pulp & Paper provides sustainable technology, automation, and service solutions for the production of all types of pulp, paper, board and tissue. The technologies and services focus on increased production efficiency, lower overall operating costs as well as innovative decarbonization strategies and autonomous plant operation.

The product portfolio also includes boilers for power generation, flue gas cleaning systems, various nonwoven technologies, and panelboard (MDF) production systems. With waste-to-value recycling, shredding and energy solutions, waste and by-product streams from production are converted into valuable secondary raw materials as well as into sustainable resources for energy generation. State-of-the-art IIoT technologies as part of Metris digitalization solutions complete the comprehensive product offering.

Media contacts:

Susan Trast
HEAD OF GROUP COMMUNICATIONS & MARKETING
susan.trast@andritz.com

SOURCE: ANDRITZ

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EQT Announces Successful Completion of USD 924 Million Block Trade for Coforge

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EQT Announces Successful Completion of USD 924 Million Block Trade for Coforge

(IN BRIEF) BPEA Private Equity Fund VII (“BPEA EQT”) has successfully sold its remaining 26.6 percent stake in Coforge, an Indian technology services provider listed on the National Stock Exchange. The USD 924 million block trade marked the conclusion of BPEA EQT’s investment in the company, during which it initially acquired a 70.1 percent stake in May 2019. Under BPEA EQT’s ownership, Coforge achieved significant growth, doubling its revenue and EBITDA and crossing the milestone of USD 1 billion in revenue by April 2023. The company’s expansion was driven by strategic initiatives such as strengthening its sales organization, focusing on core verticals, enhancing digital and AI capabilities, and executing successful M&A activities. Coforge’s commitment to sustainability and its position as a key player in the tech services sector have contributed to its success.

(PRESS RELEASE) STOCKHOLM, 25-Aug-2023 — /EuropaWire/ — EQT AB, a purpose-driven global investment organization focused on active ownership strategies, is thrilled to share the successful conclusion of a significant financial transaction involving BPEA Private Equity Fund VII (“BPEA EQT”) and Coforge. BPEA EQT has successfully divested its remaining 26.6 percent stake in Coforge, a prominent player listed on the Indian National Stock Exchange. This milestone was achieved through a strategic USD 924 million block trade, further marking an important step in the dynamic trajectory of both entities.

Coforge, headquartered in Noida, India, has solidified its position as a distinguished technology services provider. The company specializes in offering a comprehensive range of services, including application development and maintenance, infrastructure management, and business process outsourcing. With a keen focus on sectors like financial services, insurance, and travel, Coforge has established itself as a trusted partner for clients seeking innovative solutions.

Central to Coforge’s success are its proprietary platforms, which underpin vital business operations across its core verticals. The company has extended its influence across the global stage, with a presence in 21 countries. Impressively, Coforge operates 26 delivery centers spanning nine different countries, a testament to its commitment to providing exceptional services worldwide.

BPEA EQT, along with co-investors, initially acquired a substantial 70.1 percent stake in Coforge back in May 2019. During its tenure, BPEA EQT has been instrumental in guiding Coforge’s remarkable growth journey. The company has achieved the remarkable feat of doubling its revenue and EBITDA, surpassing the remarkable milestone of USD 1 billion in revenue by April 2023.

This impressive growth can be attributed to a strategic blend of organic endeavors. Coforge has diligently strengthened its sales organization, realigned its strategic focus on the three core verticals, bolstered its digital and AI capabilities, and executed a series of successful mergers and acquisitions. Notably, the acquisition of SLK Global stands out as a prime example of this successful M&A strategy.

As a responsible corporate entity, Coforge takes sustainability to heart. The company has made a resolute pledge to achieve Carbon Neutrality, Water Positivity, and Zero Waste by 2030, a testament to its commitment to the environment and society at large.

The successful divestment by BPEA EQT marks a significant juncture for both organizations. EQT remains committed to fostering growth, innovation, and value creation within its portfolio companies, and this transaction serves as a prime illustration of that commitment. Coforge, with its forward-looking strategies and resilient business model, is poised to continue its upward trajectory in the technology services landscape.

Hari Gopalakrishnan, Partner and Co-Head of BPEA EQT’s Investment Advisory Team in India, commented, “Tech Services is a high conviction thematic for BPEA EQT and Coforge is benefitting from multiple sector tailwinds, such as AI enabling the existing apps estate, replacement of legacy systems and a continuing talent shift to Asia where countries like India have a deep STEM talent pool. The Company’s long and sticky client relationships and deep technical expertise make it integral to the performance of multiple global market leaders in the banking, insurance and travel sectors. We are proud to have supported Coforge and its mission over the past four years. It has been a pleasure partnering with CEO Sudhir Singh and his entire team and we look forward to following the next phase of Coforge’s growth.”

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About BPEA EQT
BPEA EQT is part of EQT, a purpose-driven global investment organization in active ownership strategies. BPEA EQT combines the private equity teams from Baring Private Equity Asia (BPEA) and EQT Asia, creating a comprehensive Asian private equity presence with local teams in eight cities across the region, a 25-year heritage, and more than USD 25 billion of capital deployed since inception. In addition to BPEA EQT, EQT’s strategies in the region include EQT Infrastructure and the real estate division EQT Exeter.

More info: www.eqtgroup.com
Follow EQT on LinkedInTwitterYouTube and Instagram

About Coforge
Coforge is a global digital services and solutions provider that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides us a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises. Coforge’s proprietary platforms power critical business processes across its core verticals. The firm has a presence in 21 countries with 26 delivery centers across nine countries.

More info: www.coforge.com

SOURCE: EQT AB

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Alstom Delivers First Trainset Ahead of Schedule for Bhopal–Indore Metro Project, Strengthening India’s Sustainable Mobility

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Alstom Delivers First Trainset Ahead of Schedule for Bhopal–Indore Metro Project, Strengthening India’s Sustainable Mobility

(IN BRIEF) Alstom has delivered the first trainset for the Bhopal–Indore metro project to Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) in record time, just fourteen and a half months after receiving the Notice To Proceed. The trainset will be deployed in Indore and is set to become operational in April 2024. A second trainset is expected to be delivered by September 20, 2023, for Bhopal. The ultramodern, lightweight trains will operate at speeds of up to 80 km/h across the metro lines in both cities. The trains are being manufactured indigenously under the ‘Make in India’ campaign and are designed to provide safe, efficient, and affordable mass transport, contributing to the modernization of the smart cities of Bhopal and Indore.

(PRESS RELEASE) SAINT-OUEN-SUR-SEINE, 1-Sep-2023 — /EuropaWire/ — Alstom has successfully delivered the first trainset for the Bhopal–Indore metro project to Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) today. Built in record time of fourteen and a half months from its Notice To Proceed (NTP), this trainset will be deployed to Indore, which is set to be operational from April 2024. The mock-up car was unveiled at Smart City Park, Bhopal on 26 August 2023, by Hon’ble Chief Minister of Madhya Pradesh in the presence of MPMRCL, the General Consultant and Alstom.

The second trainset expected to be delivered by 20th September 2023, will be deployed to Bhopal. These ultramodern, light-weight trains will operate at a top speed of 80 km/h, across the 31 km line in Bhopal with 30 stations and the 31.5 km line in Indore with 29 stations. 27 of the 3 car configuration trainsets, will be for Bhopal while 25 trainsets will be for Indore. The trains have a 50-passenger seating & 300 standing capacity.

“Bhopal and Indore has been recognised as a smart city in India, and the addition of metro will modernise the city infrastructure notably. These trains will ensure safe, reliable, efficient, and affordable mass transport system, while also promoting economic activity.” Oliver Loison, Managing Director, Alstom India

Commenting on the delivery update, Oliver Loison, Managing Director, Alstom India said, “It is a proud moment for us to deliver the first trainset for the Bhopal-Indore metro project in advance. Bhopal and Indore has been recognised as a smart city in India, and the addition of metro will modernise the city infrastructure notably. These trains will ensure safe, reliable, efficient, and affordable mass transport system, while also promoting economic activity. Alstom is India’s long-standing partner in the journey towards sustainable mobility and we are looking forward to further strengthen this partnership by redefining the mass transportation needs of Madhya Pradesh.”

Under the ‘Make in India’ campaign, the Bhopal-Indore Metro trainsets are being manufactured 100% indigenously at Alstom’s state-of-the-art rolling stock manufacturing facility at Savli, Gujarat. As a part of the contract awarded in July 2022,

  • Alstom is responsible for the design, manufacturing, supply, installation, test, and commissioning of 52 standard gauge Movia metro passenger trainsets of 3-car configuration each, with 15 years of comprehensive maintenance.
  • Valued at €387 million (over INR 3200 crores), this order includes installation of latest generation of Communications Based Train Control (CBTC) signalling system as well as train control and telecommunication systems; each with seven years of comprehensive maintenance.
  • This is the second such combined order in India for Alstom, after the Agra-Kanpur metro projects.

The Movia metro family offers the latest technology combined with proven and reliable components, and have been operational in numerous global cities, including London, Delhi, Stockholm, and Singapore. These air-conditioned cars are developed with a strong emphasis on eco-friendly design to eliminate hazardous substances providing a safer environment for passengers. The trains are powered with modern energy efficient propulsion systems with regenerative braking, making them a sustainable alternative to other modes of transport, thus reducing energy consumption. Features such as ambient lighting and smart light solutions further help in energy saving. Train Control and Management System (TCMS) has been adopted with an automatic track inspection system embedded to ensure error free and highspeed data transmission. Highest standards of safety and security have been ensured with continuous CCTV surveillance and a direct communication channel with the train operator and the control centre, in case of distress. The intelligent CCTV features also include unattended object identification and empty train detection (passenger counting in Emergency evacuation).  The trains also have dedicated wheelchair space for specially abled persons.

Alstom India has a rich legacy of successfully delivering world-class metro trains for major cities, including Delhi, Chennai, Mumbai, Lucknow, Kochi in India, as well Sydney, Queensland, and Montreal. The company is currently manufacturing metro trains for Agra-Kanpur, and Mumbai Metro Line 3, and modern trainsets for India’s first semi high-speed Delhi-Meerut RRTS project.

Alstom and Movia™ are protected trademarks of the Alstom Group.

Media Contact:

Ankita Upadhyay
mailto:ankita.upadhyay@alstomgroup.com

SOURCE: Alstom

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Airbus Delivers Inaugural ‘Make in India’ C295 Aircraft to Indian Air Force

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Airbus Delivers Inaugural ‘Make in India’ C295 Aircraft to Indian Air Force

(IN BRIEF) Airbus Defence and Space has officially delivered the first of 56 C295 aircraft to the Indian Air Force (IAF), signaling the start of a process to replace the IAF’s aging Avros-748 fleet. The C295, configured for transport and equipped with indigenous electronic warfare capabilities, will soon depart Spain for India. The initial 16 aircraft will be assembled in Spain, with the remaining 40 to be produced and assembled in India as part of the “Make in India” initiative, in partnership with Tata Advanced Systems Limited (TASL). The first Indian-made C295 is expected in September 2026, with the final delivery to the IAF scheduled for August 2031. The C295 is known for its versatility and is used for troop transport, paratrooper drops, cargo airdrops, medical evacuation, and can operate on short and unpaved runways.

(PRESS RELEASE) SEVILLE, 13-Sep-2023 — /EuropaWire/ — Airbus (EPA: AIR), a European multinational aerospace corporation, announces that Airbus Defence and Space proudly announces the formal handover of the first C295 aircraft to the Indian Air Force (IAF), marking a significant milestone in the replacement of the IAF’s aging Avros-748 fleet. This delivery, made in fly-away condition, signifies the beginning of a comprehensive fleet transformation.

The C295, configured for transport missions and equipped with an indigenous electronic warfare suite, is set to depart from Airbus’ production site in Seville, Spain, bound for Delhi, India, in the coming days. The journey will be piloted by a collaborative IAF-Airbus crew.

“It was only two years ago that we signed this contract with India, the largest order in the history of the C295,” said Jean-Brice Dumont, Airbus’ Head of Military Air Systems, in a delivery ceremony held in Seville in the presence of IAF Air Chief Marshal Vivek Ram Chaudhari.

“Today, we are enhancing the capabilities of the Indian Air Force and modernising its transport fleet by delivering the first aircraft on schedule. This is the beginning of an exciting and long-term journey with the Indian Air Force.”

Out of the total order of 56 C295 aircraft, the first 16 will be assembled at the San Pablo Sur site in Seville, Spain. The second aircraft delivery is scheduled for May 2024, followed by a steady rollout of one aircraft per month until August 2025.

The remaining 40 C295 aircraft from the IAF order will embrace the “Make in India” initiative and be manufactured and assembled in collaboration with Tata Advanced Systems Limited (TASL). This partnership will establish a Final Assembly Line (FAL) located in Vadodara, in western India. Component production has already commenced at the Main Constituent Assembly (MCA) facility in Hyderabad, southern India. These components will be transported to the Vadodara FAL, with its expected operational readiness by November 2024.

The inaugural ‘Make in India’ C295 aircraft is anticipated to roll off the Vadodara FAL assembly line in September 2026, marking a significant achievement for the Indian aerospace industry. The final C295 aircraft in this order is scheduled for delivery to the IAF by August 2031.

With an impressive track record of 283 orders from 41 operators worldwide, the C295 is a standout leader in its segment, known for its exceptional versatility. It can accommodate up to 71 troops or 50 paratroopers, perform cargo airdrops, support medical evacuation missions, and operate on short and unpaved runways.

To download photo and video material, please click here.

Media contacts:

Borja Garcia De Sola
External Communications – Airbus Defence
Phone: +34 677 92 62 42
borja.garciadesola@airbus.com

Krittivas Mukherjee
Head of Communications – Airbus India & South Asia
krittivas.mukherjee@airbus.com

SOURCE: AIRBUS

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Natixis CIB Appoints Abbas Rangwala as Head of M&A for Southeast Asia & India

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Natixis CIB Appoints Abbas Rangwala as Head of M&A for Southeast Asia & India

(IN BRIEF) Natixis Corporate & Investment Banking (Natixis CIB) has appointed Abbas Rangwala as the Head of M&A for Southeast Asia & India, a newly created role based in Singapore. With over 20 years of experience in corporate finance, strategy, and investment banking, Abbas will lead and expand Natixis CIB’s M&A franchise in the Southeast Asia and India regions. His extensive expertise and deep knowledge of the business landscape in these areas are expected to contribute to the bank’s growth and development of its M&A business. This appointment aligns with Natixis CIB’s strategy to strengthen its presence and expertise in Asia Pacific.

(PRESS RELEASE) PARIS, 26-Sep-2023 — /EuropaWire/ — Based in Singapore, Abbas reports to Miranda Zhao, Head of M&A, Asia Pacific, and Bertrand Guiot, Head of Real Assets & Investment Banking, SEA and Head of Infrastructure Fund Coverage, Asia Pacific. In this newly created role, Abbas will be responsible for leading and growing our M&A franchise in Southeast Asia and India.

Abbas brings more than 20 years of experience in corporate finance, strategy, business development and organizational change management. Prior to his appointment, Abbas was the Group Head of Mergers, Acquisitions and Business Development at Bharti Enterprises, one of India’s largest corporate groups, and before that, the Head of M&A at InterGlobe Enterprises. Previously, Abbas held senior investment banking roles at Citigroup and Deutsche Bank across Singapore, Hong Kong and Mumbai.

Commenting on the appointment, Miranda Zhao said: “We are delighted to welcome Abbas on board. His significant investment banking expertise and strong client relationships, combined with a deep understanding of the Southeast Asia and India business landscape, position him well to support the growth and further development of our M&A franchise.”

Bertrand Guiot added: “Our Southeast Asia franchise has grown from strength to strength in recent years and is a critical part of our broader Asia Pacific investment banking strategy. I am confident that Abbas’ execution capabilities, knowledge, and leadership experience, will support us in taking our business to the next level.”

The appointment underscores Natixis CIB’s ambition to grow its Asia Pacific business through select activities, while diversifying its expertise and geographical presence to the benefit of its clients. Earlier this year, the bank appointed Amit Tanna as Head of Coverage, India, to further strengthen its strategic and transactional dialogue with corporate and financial sponsor clients in the country.

Natixis CIB has a strong international M&A network, encompassing seven specialized M&A boutiques worldwide. In Asia Pacific this includes Vermilion Partners, a specialist in cross-border transactions in China, in which Natixis CIB made a majority investment in March 2018, and Azure Capital, a leading Australian corporate advisory firm, of which Natixis CIB invested in a majority stake in May 2019.

About Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.

Our teams of experts in around 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor’s: A, Moody’s: A1, Fitch Ratings: AA-, R&I: A+).

Media Contact:

Audrey Kabilova
COMMUNICATIONS, ASIA PACIFIC
+852 3900 8701
audrey.kabilova@natixis.com

SOURCE: GROUPE BPCE

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Škoda Auto Expands Production and Export Capabilities with New Parts Expedition Centre in India

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Škoda Auto Expands Production and Export Capabilities with New Parts Expedition Centre in India

(IN BRIEF) Škoda Auto has inaugurated a new Parts Expedition Centre in Pune, India, with a 16,000-square-meter facility dedicated to packaging completely-knocked-down (CKD) kits of the Kushaq and Slavia models produced in India. These kits will be exported to Vietnam for assembly, welding, and painting. The Vietnamese partner, the TC Group, will oversee the production line in Quãng Ninh province. This move allows Škoda Auto to leverage synergies between key markets and export products to emerging markets, including the ASEAN region.

(PRESS RELEASE) MLADÁ BOLESLAV, 19-Oct-2023 — /EuropaWire/ — Škoda Auto has inaugurated its new Parts Expedition Centre in Pune, India. The approximately 16,000-square-metre facility will serve as a packaging area for completely-knocked-down (CKD) kits of the Kushaq and Slavia models produced in India. From there, the kits will be exported in containers to Vietnam for welding, painting and assembly. Construction of the production line in Quãng Ninh province in Vietnam is underway.

“With the opening of the new Parts Expedition Centre, we are paving the way for exporting CKD units from India to Vietnam. This represents a crucial step in effectively leveraging the synergies between these strategically important markets. As we gear up to export our products to additional emerging markets, the Parts Expedition Centre may also serve as a logistics hub for the ASEAN region.” Andreas Dick, Škoda Auto Board Member for Production and Logistics

“This year marked the 600,000th car export for Škoda Auto Volkswagen India Private Limited from India. We have been serving key international markets from India, which is a testament of the engineering capabilities that exists here. The establishment of the Parts Expedition Centre represents a strategic advancement in our export capabilities. This facility combines modern infrastructure and sustainability, allowing us to cater more effectively to emerging markets. At the same time, we will keep underscoring our vision of making sustainable, quality mobility accessible worldwide.” Piyush Arora, Managing Director & CEO of Škoda Auto Volkswagen India Private Limited

Synergies through geographical proximity: exporting India-produced CKD kits to Vietnam
In 2021, Škoda Auto unveiled the Kushaq for the Indian automotive market, with production located in Pune. The mid-size SUV, which is based on the MQB-A0-IN version of the modular transverse matrix, was developed in India. This was also the case for the Škoda Slavia saloon, launched a year later. Both models will be exported to Vietnam as CKD kits in the near future.

Parts will be shipped from the new logistics hub to Vietnam via the port of Mumbai. The vehicles will be assembled and prepared for delivery to customers at the plant owned by the TC Group, Škoda Auto’s Vietnamese partner, in Quãng Ninh province. The dedicated production line in Vietnam is under construction and due to open in the first half of 2024.

Škoda Auto expands into Vietnam
On 23 September, Škoda Auto officially entered the Vietnamese market, marking an important step in its internationalisation strategy. Customers can now purchase Karoq and Kodiaq models imported from Europe. The assembly of vehicles from CKD kits imported from India will begin in 2024, firstly with the Kushaq and shortly after, the Slavia. Škoda Auto is also exploring the prospect of introducing the Superb and Octavia models to the Vietnamese market in the near future. Looking ahead, the Czech carmaker plans to expand its line-up to include the Enyaq series in response to Vietnamese customers’ growing demand for e-vehicles.

Media Contact:

Thomas Drechsler
Head of Communications
e: thomas.drechsler@skoda-auto.cz

SOURCE: Škoda Auto a.s

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Zurich Insurance Forms Strategic Alliance with Kotak Mahindra Bank in Indian Insurance Market

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Zurich Insurance Forms Strategic Alliance with Kotak Mahindra Bank in Indian Insurance Market

(IN BRIEF) Zurich Insurance Group has announced a significant strategic alliance with Kotak Mahindra Bank in India, with plans to acquire a 51% stake in Kotak Mahindra General Insurance Company for $488 million. This investment marks one of the largest by a foreign insurer in the Indian insurance sector since regulatory changes allowing majority foreign ownership in 2021. The partnership aims to leverage Kotak Mahindra’s strong financial services presence and Zurich’s distribution expertise to innovate and expand in the Indian general insurance market, capitalizing on India’s rapid economic growth and increasing insurance awareness.

(PRESS RELEASE) ZURICH, 3-Nov-2023 — /EuropaWire/ — Zurich Insurance Group (“Zurich”) announced a strategic alliance with Kotak Mahindra Bank Limited (“Kotak Mahindra Bank”), India’s third largest private sector bank by market capitalization, through the proposed acquisition of a 51% stake in Kotak Mahindra General Insurance Company Limited (“Kotak General Insurance”) for USD 488 million, through a combination of fresh growth capital and share purchase (subject to regulatory approvals and customary closing adjustments). Further, Zurich will acquire an additional stake of up to 19% over time. It is anticipated that this transaction will represent the largest foreign insurer investment in the Indian insurance sector since the regulatory changes allowing majority foreign ownership came into effect in 2021.

“India is one of the world’s most important markets with immense potential and we are pleased to be making a significant commitment with an excellent partner,” said Tulsi Naidu, Zurich’s Chief Executive Officer of Asia Pacific. “With Kotak Mahindra Group’s high-quality franchise and expertise in Indian financial services, and Zurich’s deep distribution experience and class-leading capabilities in retail and commercial insurance, we are confident this partnership can bring strong innovation, know-how, and excellent customer experiences to the Indian general insurance market.”

India is expected to become the third largest global economy by 2030 and presents significant untapped potential for the development of insurance solutions. The country’s rapid economic growth, coupled with low levels of insurance penetration, increasing awareness, strong digital infrastructure and expanded foreign ownership rules make it one of the most attractive and fastest growing insurance markets globally.

Dipak Gupta, MD & CEO, Kotak Mahindra Bank Limited said, “The alliance brings together two trusted and respected brands. The combined expertise and resources of respective firms will enable us to provide innovative solutions to meet the evolving needs of our customers. Kotak Mahindra Group’s pan India distribution presence and Zurich’s distinct global capabilities in digital assets, B2B and B2C formats has potential to create a transformational impact for the Kotak General Insurance franchise delivering innovation efficiently and rapidly in the Indian General Insurance space.”

Established in 2015 as a fully owned subsidiary of Kotak Mahindra Bank Limited, Kotak General Insurance is one of India’s youngest and fastest growing general insurance franchises. Reaching a broad spectrum of customer segments and geographies, Kotak General Insurance’s pan-India platform encompasses direct-to-customer digital channels, key financial institution partnerships, multiline agencies, and access to Kotak Mahindra Group’s customers. Strongly aligned with Zurich’s strategy, Kotak General Insurance is focused on building a differentiated value proposition to customers by delivering innovative products and best-in-class experiences through a digitally enabled journey.

Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.

Reflecting its purpose to ‘create a brighter future together,’ Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.

The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.

Disclaimer and cautionary statement
Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives of Zurich Insurance Group Ltd or the Zurich Insurance Group (the Group). Forward-looking statements include statements regarding the Group’s targeted profit, return on equity targets, expenses, pricing conditions, dividend policy and underwriting and claims results, as well as statements regarding the Group’s understanding of general economic, financial and insurance market conditions and expected developments. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and plans and objectives of Zurich Insurance Group Ltd or the Group to differ materially from those expressed or implied in the forward-looking statements (or from past results). Factors such as (i) general economic conditions and competitive factors, particularly in key markets; (ii) the risk of a global economic downturn, in the financial services industries in particular; (iii) performance of financial markets; (iv) levels of interest rates and currency exchange rates; (v) frequency, severity and development of insured claims events; (vi) mortality and morbidity experience; (vii) policy renewal and lapse rates; (viii) increased litigation activity and regulatory actions; and (ix) changes in laws and regulations and in the policies of regulators may have a direct bearing on the results of operations of Zurich Insurance Group Ltd and its Group and on whether the targets will be achieved. Specifically in relation with the COVID-19 related statements, such statements were made on the basis of circumstances prevailing at a certain time and on the basis of specific terms and conditions (in particular applicable exclusions) of insurance policies as written and interpreted by the Group and may be subject to regulatory, legislative, governmental and litigation-related developments affecting the extent of potential losses covered by a member of the Group or potentially exposing the Group to additional losses if terms or conditions are retroactively amended by way of legislative or regulatory action. Zurich Insurance Group Ltd undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.

Persons requiring advice should consult an independent adviser.

This communication does not constitute an offer or an invitation for the sale or purchase of securities in any jurisdiction.

THIS COMMUNICATION DOES NOT CONTAIN AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES; SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR EXEMPTION FROM REGISTRATION, AND ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE ISSUER AND THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS.

Media Contacts:

Media Relations:
Zurich Insurance Group
Mythenquai 2
8002 Zurich
Switzerland
+41 44 625 21 00
media@zurich.com

Investor Relations:
Zurich Insurance Group
Mythenquai 2
8002 Zurich
Switzerland
+41 44 625 22 99
investor.relations@zurich.com

SOURCE: Zurich Insurance Group

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EY Report Calls for Urgent Digital Overhaul in Universities to Enhance Student Experience

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EY Report Calls for Urgent Digital Overhaul in Universities to Enhance Student Experience

(IN BRIEF) A new report by EY highlights the pressing need for universities to revamp their digital education practices and improve the overall student experience. The report, based on data from over 3,000 undergraduate and postgraduate students across eleven countries and including input from staff focus groups and university leaders, emphasizes that high-quality teaching is a top priority for students. While in-person versus online learning delivery ranked lower in importance, the quality of online learning received the lowest satisfaction ratings. Students expressed the desire for investments in training teachers for effective online teaching, the development of better online learning materials, and increased support for digital learning. The report also underscores the importance of designing digital systems with students and faculty in mind and providing comprehensive training to make the transition to digital education more seamless. It highlights the potential for technology to streamline administrative tasks and improve teaching but cautions against poorly implemented digital systems that can add to workloads rather than enhance productivity. With one-third of students expressing dissatisfaction or neutrality about their university experience, the report calls for prioritizing improvements in digital education to meet student expectations effectively.

(PRESS RELEASE) LONDON, 8-Nov-2023 — /EuropaWire/ — Universities need an urgent overhaul of their digital education practices and student experience to help their teaching staff better meet student expectations, according to a new EY report. The report took data from more than 3,000 undergraduate and post-graduate students across eleven countries (Australia, Canada, India, Ireland, Japan, New Zealand, Saudi Arabia, Singapore, United Arab Emirates, United Kingdom, and the US) as well as staff focus groups and interviews with university leaders.

High-quality teaching was ranked as the top priority for students surveyed (83% selected it as a priority) and while the amount of in-person teaching versus online learning rated low on importance, the quality of online learning ranked lowest on student satisfaction.

Students said they’d like to see investment in training teachers to deliver online learning more effectively (45%), developing better online learning materials (41%) and providing students more support with effective digital learning (40%).

Catherine Friday, EY Global Education Leader, says:

“Investment in digital teaching technology has been on the to-do list of university leaders for years and the COVID-19 pandemic accelerated that need dramatically; implementation timelines had to shrink from years to weeks. No one expects us to go back to the way things were before, but our report shows that much more investment and training is needed in order to provide students and teachers with the tools they need to operate effectively in this new world. These systems and practices need to be designed with the people they’ll serve in mind, rather than fitting in around existing structures. It must focus on students first and foremost, but to be successful they also need to work for faculty, researchers, administrative and support staff. In some cases this might be a big change, but with one-third of students saying they feel negative or neutral about their experience of university and quality of teaching being the top student priority, it is clear that this needs prioritizing. As universities around the world are also facing financial challenges, losing students because of something that universities can readily address simply doesn’t make sense.”

New systems can help staff, but training and time required

The report shows that more needs to be done to help teaching staff focus more on their core mission of teaching, supporting students or leading research. Focus group participants want further training in blended (online and in-person) teaching best practices in terms of both developing curricula and content for effective digital or blended learning as well as delivering teaching and learning support.

Teaching faculty and support staff need more time to embed new tools and ways of working, saying that they are spending too much time currently dealing with myriad new systems and tools, which were unintuitive, difficult to use or duplicative.

Friday says: “Technology has the potential to make the jobs of teaching faculty, researchers and administrators much easier. Replacing mass in-person lectures with high-quality self-access learning content can free up faculty to focus more on smaller in-person teaching groups or applying analytics to find and help students that are struggling and design personal intervention plans. Greater automation of routine tasks – such as processing student applications, grading assessments or submitting research grant applications – could also free up time across the whole university workforce. However, it is vital that any new systems are designed with their users in mind and that comprehensive training is provided. Our research showed that some staff feel that poorly implemented digital systems can feel like an addition to workloads, rather than helping staff fulfill their most important goal: delivering for students and society.”

The research report can be found here.

Notes to editors

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About EY Government & Infrastructure

Around the world, governments and not-for-profit organizations are continually seeking innovative answers to complex challenges. They are striving to provide better services at lower costs and to create sustainable economic development, a safe environment, more transparency and increased accountability. EY combines private sector leading practices with an understanding of the public sector’s diverse needs, focusing on building organizations’ capabilities to deliver improved public services. Drawing on many years of experience, we can work with you to help strengthen your organization and achieve lasting improvements. Our Global Government & Infrastructure brings together teams of highly skilled professionals from our assurance, consulting, strategy, tax and transaction services. We are inspired by a deep commitment to help you meet your goals and enhance public value, for today and tomorrow.

Media Contact:

Michael Curtis
EY Global Industry Markets Media Relations & Social Media Leader

SOURCE: Ernst & Young Global Limited

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£1.5 Million Pledge Boosts Research Collaboration Between University of Liverpool and NIMHANS in India

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£1.5 Million Pledge Boosts Research Collaboration Between University of Liverpool and NIMHANS in India

(IN BRIEF) In a significant development, the University of Liverpool and the National Institute of Mental Health and Neurosciences (NIMHANS) in Bengaluru, India, have solidified their extensive research partnership with the help of a generous £1.5 million pledge from the Pratiksha Trust. This funding injection will enhance their ongoing collaboration, which spans over two decades, in addressing critical healthcare challenges. The partnership has already made remarkable contributions to fields such as brain infections, child and maternal mental health, and neuro-imaging and epilepsy research, saving numerous lives and attracting substantial external funding. The expanded collaboration will focus on areas such as a dual PhD program, researcher exchange initiatives, and annual symposia, reinforcing their commitment to advancing healthcare research on a global scale.

(PRESS RELEASE) LIVERPOOL, 9-Nov-2023— /EuropaWire/ — This week (7 November 2023) the University of Liverpool and the National Institute of Mental Health and Neurosciences (NIMHANS) in Bengaluru, India signed a new memorandum of understanding (MoU) to reaffirm and expand their long-standing research partnership.

To further bolster this initiative, the two institutions gratefully accepted a pledge of £1.5million from the Pratiksha Trust, on behalf of its founder, Mr Kris Gopalakrishnan.

The collaborative partnership between NIMHANS and the University of Liverpool, established in 2002, has had a profound impact on global healthcare – saving more than 200,000 lives. The collaboration has also attracted substantial external funding, totalling £10 million, from various prominent organisations like the Wellcome Trust, the UK Medical Research Council, the Indian Council for Medical Research, and the Gates Foundation.

The partnership has three core research strands – Brain infections spearheaded by Professor Tom Solomon and now led by Dr Lance Turtle and Dr Netravathi, NIMHANS; Child and Maternal mental health, featuring collaborative longitudinal studies such as the Bangalore Child Health and Development Study, led by Professor Helen Sharp and Professor Prabha Chandra, NIMHANS; Neuro-imaging and epilepsy research, led by Professor Simon Keller and Dr Sanjib Sinha and Dr Jitender Saini, NIMHANS.

The partnership also includes a dual PhD programme, and joint workshops held annually to set research priorities and explore new avenues of research.

With the support of Mr Gopalakrishnan, the partnership will expand across four key components – a Dual PhD programme, an Early Career Researcher Exchange programme, a Senior Researcher Exchange programme, and joint Annual Symposia.

Professor Tim Jones, Vice-Chancellor, University of Liverpool, said: “We are delighted to have signed this MoU with NIHMANS, with whom we already have a longstanding relationship that has real world impact. Signing the MoU, and the generous donation from Kris Gopalakrishnan, allows us to further our work researching brain infections, mental health, neuro-imaging and epilepsy as well as the dual PhD programme.

“We are incredibly proud to be a civic university with a global reputation and it’s an honour to visit Bengaluru. Here we have met people and organisations with a shared aspiration for positive worldwide impact through outstanding research and collaboration.”

Professor Pratima Murthy, Director of NIMHANS, said: “We are excited to continue our valuable collaboration with the University of Liverpool. Together, we have achieved remarkable progress in the fields of maternal and child mental health, epilepsy, and brain infections. It has been an extraordinary journey, uniting the brightest minds to unravel the mysteries of the human brain. We stand poised to uncover even more, to change lives, and to make a significant impact on the world’s healthcare landscape with the generous funding by the Pratiksha Trust.”

Mr Kris Gopalakrishnan, founder of Pratiksha Trust, and Chairman of Axilor Ventures and Co-founder of Infosys said: “Pratiksha Trust is glad to contribute to the joint efforts of NIMHANS and University of Liverpool to tackle complex health challenges. With our contribution, we aim to further strengthen the critical research endeavours initiated by these two leading institutions in the realm of healthcare. We believe that this collaboration will have far-reaching positive consequences for the well-being of individuals worldwide.”

Media Contacts:

Joanne Carr
Deputy Director of Communications and Public Affairs
T: +44 (0)7825 434900
E: jocarr@liverpool.ac.uk

Catrin Owen
Media Relations Manager – Humanities and Social Sciences
T: +44 (0)7721 834238
E: catrin.owen@liverpool.ac.uk

Sarah Stamper
Media Relations Manager – Science and Engineering
T: +44 (0)7970 247396
E: sarah.stamper@liverpool.ac.uk

Jennifer Morgan
Media Relations Manager – Health and Life Sciences
T: +44 (0)7775 547589
E: J.L.Morgan@liverpool.ac.uk

Alison Cornmell
Media Relations Manager – Health and Life Sciences
T: +44 (0) 7771 700680
E: Alison.Cornmell@liverpool.ac.uk

SOURCE: University of Liverpool

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Indian Aerospace Advances: PTC Industries Joins Forces with Safran Aircraft Engines

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Indian Aerospace Advances: PTC Industries Joins Forces with Safran Aircraft Engines

(IN BRIEF) Indian company PTC Industries has partnered with French aerospace giant Safran Aircraft Engines to produce titanium casting parts for the LEAP engines, underpinning India’s “Make in India” initiative. PTC Industries will leverage its expertise in advanced casting processes to contribute to Safran Aircraft Engines’ global supply chain. The collaboration aims to deliver the first titanium casting parts for the LEAP engines by early 2024. India is the world’s third-largest operator of LEAP engines, with over 2,200 units ordered by Indian airlines. The partnership strengthens India’s aerospace manufacturing capabilities and supports Safran’s LEAP engine production ramp-up.

(PRESS RELEASE) LUCKNOW, India, 13-Nov-2023 — /EuropaWire/ — Safran (EPA: SAF), a French multinational aircraft engine, rocket engine, aerospace-component and defense company, announces that PTC Industries, an India-based leader in advanced casting processes and precision machining, has entered into a multi-year collaboration with Safran Aircraft Engines, a global powerhouse in aero engine design and manufacturing, to jointly develop casting parts for the LEAP engines.

This partnership, in alignment with the Indian Government’s “Make in India” initiative, signifies a significant step towards strengthening the aerospace ecosystem in India. PTC Industries, headquartered in Lucknow, Uttar Pradesh, brings a wealth of experience in advanced casting processes, making them a valuable contributor to Safran Aircraft Engines’ global supply chain aimed at supporting the LEAP engine production ramp-up.

The collaboration aims to produce titanium-casting parts essential for the LEAP engines, with the first deliveries slated for early 2024. These components are integral to the LEAP engine’s performance, especially in single-aisle jet applications.

M. Sachin Agarwal, Chairman & Managing Director of PTC Industries, expressed enthusiasm for the partnership, stating, “We are delighted to develop a new cooperation with one of the world-leading aircraft engine manufacturer. Through this partnership, we are looking forward to leveraging our expertise in casting process to support the ambitious production challenges of the LEAP program.”

Dominique Dupuy, Vice President of Purchasing at Safran Aircraft Engines, echoed the sentiment, saying, “Having PTC industries expanding our global supply chain is a major step forward for our company. PTC, with its  investment in its new facilities in Lucknow, pave the way to a successful cooperation over the coming years.”

Safran Aircraft Engines, along with other Safran entities, has established a robust presence in India, with five production facilities spread across Hyderabad, Bangalore, and Goa. Additionally, a sixth site dedicated to LEAP engine MRO activities is set to be completed in Hyderabad by 2025. India ranks as the third-largest operator of LEAP engines globally, with 75% of Indian commercial aircraft equipped with CFM’s advanced turbofan technology. The demand for LEAP engines in India continues to soar, with more than 2,200 units ordered by Indian airlines to date.

This partnership between PTC Industries and Safran Aircraft Engines underscores the commitment to local manufacturing and global excellence, further solidifying India’s position in the aerospace industry.

Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 83 000 employees and sales of 19.0 billion euros in 2022, and holds, alone or in partnership, world or regional leadership positions in its core markets.

Safran Aircraft Engines designs, produces, sells, alone or in partnership, commercial and military aircraft engines offering world-class performance, reliability and environmental-friendliness. Through CFM International, Safran Aircraft Engines is the world’s leading supplier of engines for short and medium-haul commercial jets.

PTC Industries Limited is a leading Indian manufacturer of precision metal components for critical applications for over 60 years. Through its wholly owned subsidiary Aerolloy Technologies Limited, the company is manufacturing and supplying Titanium and Superalloy castings for Aerospace and Defence applications within India as well as for exports. The company is substantially expanding its Aerospace castings capability by making a multi-million-dollar investment in a new state-of-the-art manufacturing facility at the newly acquired 50 acres land in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor.  This facility will be a fully vertically integrated with a Titanium and Superalloy Mill, producing aerospace grade ingots, billets, bars, plates and sheets in these critical and strategic materials.

For more information: www.safran-group.com and  www.safran-aircraft-engines.com  / Follow @Safran and @SafranEngines on X

Media contact:

Charles Soret
Safran Aircraft Engines
+33 6 31 60 96 79
charles.soret@safrangroup.com

SOURCE: Safran

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Saint-Gobain Strengthens Construction Chemicals Portfolio with Acquisition of Menkol Industries in India

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Saint-Gobain Strengthens Construction Chemicals Portfolio with Acquisition of Menkol Industries in India

(IN BRIEF) Saint-Gobain has announced its acquisition of Menkol Industries Private Limited, a prominent Indian manufacturer specializing in high-value waterproofing systems. This strategic move enhances Saint-Gobain’s position in the Construction Chemicals sector, focusing on specialty building materials within the dynamic Indian market. Menkol Industries specializes in high-performance waterproofing systems for building foundations, complementing Saint-Gobain’s existing Preprufe® patented waterproofing membranes obtained through its recent GCP acquisition. The acquisition aligns with Saint-Gobain’s strategic plan, “Grow & Impact,” which aims to reinforce the company’s leadership and drive growth by expanding its range of solutions for sustainable and lightweight construction. This acquisition marks a significant step toward building a leading technical waterproofing platform in India.

(PRESS RELEASE) COURBEVOIE, 8-Dec-2023 — /EuropaWire/ — Saint-Gobain announces that it has acquired Menkol Industries Private Limited, a leading Indian manufacturer in high-added value waterproofing systems.

This acquisition strengthens Saint-Gobain’s Construction Chemicals position in added-value specialty building materials in the very dynamic Indian market. Menkol Industries is specialized in high-performance waterproofing systems for building foundations that perfectly complement the existing Preprufe® patented waterproofing membranes from Saint-Gobain’s recent GCP acquisition. This acquisition is a decisive step in Saint-Gobain’s aim to build a leading technical waterproofing platform in India.

This acquisition is in line with Saint-Gobain’s strategic plan, “Grow & Impact” which aims to both strengthen the Group’s leadership and accelerate its growth by enriching its range of solutions for light and sustainable construction.

About Saint-Gobain
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.

€51.2 billion in sales in 2022
168,000 employees, locations in 75 countries
Committed to achieving Carbon Neutrality by 2050

For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on X @saintgobain

Media Contacts:

Investor Relation:
Vivien Dardel
(+33) 1 88 54 29 77

Floriana Michalowska
(+33) 1 88 54 19 09

Alix Sicaud
(+33) 1 88 54 38 70

James Weston
(+33) 1 88 54 01 24

Media Relation:
Patricia Marie
(+33) 1 88 54 26 83

Laure Bencheikh
(+33) 1 88 54 26 38

Flavio Bornancin Tomasella
(+33) 1 88 54 27 96

SOURCE: Saint-Gobain

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Maersk Partners with Tamil Nadu Government to Boost Trade and Logistics Infrastructure

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Maersk Partners with Tamil Nadu Government to Boost Trade and Logistics Infrastructure

(IN BRIEF) A.P. Moller – Maersk (Maersk) has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu during the Tamil Nadu Global Investors Meet 2024 to explore strategic investment opportunities in land development for logistics hubs, warehousing facilities, and the deployment of electric trucks for distribution networks. With Tamil Nadu’s ambitious goals to become the second-largest contributor to India’s GDP and a 1 trillion USD economy by 2030, Maersk aims to leverage the state’s conducive business ecosystem and infrastructure to strengthen its integrated logistics solutions and support trade growth. The partnership will focus on sectors such as Renewables, Automotive, Electronics, and more, with an emphasis on sustainability and decarbonization.

(PRESS RELEASE) COPENHAGEN, 8-Jan-2024 — /EuropaWire/ — A.P. Moller – Maersk (Maersk) and the Government of Tamil Nadu signed a Memorandum of Understanding (MoU) during the Tamil Nadu Global Investors Meet 2024. As per this MoU, Maersk and the Government of Tamil Nadu entered a partnership that allows both to explore strategic opportunities together and enable the state’s growing trade.

“We have a long-standing 25-year relationship with the state of Tamil Nadu. The state’s conducive business ecosystem, robust infrastructure and a future-proof talent pool make it an attractive destination to invest in. We offer robust integrated logistics solutions in Tamil Nadu to various global and local customers across sectors such as Renewables, Automotive, Electronics, etc. Looking at the potential for growth in trade out of the state, we are now ready to explore opportunities that will allow us to develop land for integrated logistics hubs, build warehousing infrastructure and a sustainable distribution network to strengthen our integrated logistics solutions”., Vikash Agarwal, Managing Director, Maersk South Asia

Tamil Nadu is currently the third-largest contributor to India’s GDP, with the potential to become the second-largest next year. It is also the third-largest exporter from India, with an ambition to become a 1 trillion USD economy by 2030. In a state with such ambitions and a clear roadmap aided by a conducive business ecosystem, the right policy framework, a competitive environment and a large pool of young and future-proof talent, it is a win-win for Maersk and the state to partner and explore all potential opportunities for enabling trade.

Integrated Logistics in Action

The state of Tamil Nadu is currently connected to the global ocean network through Maersk’s two major service calls. Further, Maersk has a robust distribution network that connects the ocean ports to the hinterland, where many of the manufacturers and consumers are located. Maersk also has a cold storage facility in Chennai, which caters to its customers’ frozen and chilled cargo.

In addition to these, Maersk will now explore opportunities to invest in land development to create logistics hubs. These logistics hubs will implement the best practices from global examples to drive maximum efficiency while delivering resilience to customers’ supply chains. Maersk will also study the customer needs for storage facilities and build modern, state-of-the-art warehousing facilities that would incorporate the latest Warehouse Management Systems for the most efficient inventory management and focus on waste reduction. Finally, Maersk will also invest in building a fleet of electric trucks that will ensure sustainable and environment-friendly distribution. This is an imperative for some of the top customers of Maersk who have set for themselves stringent NetZero targets and who reply on logistics partners who can deliver decarbonised solutions.

“We are happy to collaborate with Maersk as a strategic logistics partner. To attract global investments into the state, the availability of effective logistics and supply chain solutions is key. We believe this collaboration would bring the right global expertise, network, and ambition to enable the growth of trade in the state. Guidance, Tamil Nadu shall facilitate necessary support and bolster existing conducive environment to implement best global practices for proposed investments., V. Vishnu IAS, Managing Director and CEO, Guidance, Tamil Nadu

The Government of Tamil Nadu will provide Maersk with the right access to information, enable faster decision-making and provide a conducive environment to implement the latest in technology and best global practices.

Sectors in focus

While Maersk will continue serving the focus sectors of Renewables, Automotive, Electronics, Textiles & Apparel, and Chemicals, it will also explore potential opportunities in serving the sunrise sectors of pharma, footwear and finished leather goods and technical textiles. Maersk will further work towards creating integrated logistics solutions with a special emphasis on these sectors to enable them to achieve scale and global competitiveness.

About Maersk

A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs over 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.

Media Contact:

Adhish Alawani
Media Relations Manager
mailto:adhish.alawani@maersk.com

SOURCE: A.P. Moller – Maersk

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