LONDON: AVEVA Group plc announced a fully committed and underwritten rights issue to raise gross proceeds of approximately £2.835 billion to partly fund the acquisition of OSIsoft, LLC, a global leader in real-time industrial data software and services. The Rights Issue will result in the issue of 125.739 million new ordinary shares of the Company….
Outlooks for Singapore Reinsurance Corporation revised to negative
OLDWICK: Global rating agency, AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Singapore Reinsurance Corporation Limited. The ratings reflect Singapore Re’s balance sheet strength, which AM Best categorises as strong, as well as…
Hexagon Purus to supply storage system for the first hydrogen commuter train in the U.S.
OSLO: Hexagon Purus has signed a contract with Stadler Rail to develop cylinder storage system for the first hydrogen commuter train in the U.S., a news release said. Hexagon Purus’ storage system is due to be delivered in the fourth quarter of 2021. The contract includes the development and homologation of a new cylinder and…
Cloudberry enters into partnership for sale of offshore wind development project in Sweden
OSLO: Cloudberry Clean Energy AS and Downing LLP have entered into an exclusivity agreement for the construction and ownership of a 100 MW nearshore, shallow water wind farm in Lake Vänern in southern Sweden. Since the end of June, Cloudberry has doubled its project backlog to above 1.6 terrawatt hours per year. After confirming a…
Schneider honored with 2020 SmartWay Excellence Award within trucking industry
GREEN BAY: Schneider has been honored again for its continuous achievements and commitment towards environmental leadership within the trucking industry. This year’s win marks the 11th time that Schneider has been recognized by the United States Environmental Protection Agency (EPA) with the SmartWay Excellence Award. Schneider has been an award recipient each year the EPA…
Seabury TFX rolls out all-new finance program, TrakFin
HONG KONG: Seabury TFX, a company of Seabury Capital Group LLC, rolled out an all-new finance program, TrakFin (www.trakfin.com) on the sidelines of the 2020 Hong Kong Fintech Week. The finance program is targeted to enable companies in the app store and advertising community to gain faster access to their earnings and deploy their resources…
Americold Realty Trust announces acquisition, expansion totaling $575 million
ATLANTA: Americold Realty Trust has acquired South Plainfield, New Jersey-based Hall’s Warehouse Corporation for $480 million, a news release said. Americold also announced two expansion projects, including a build-to-suit expansion in Arkansas for a top tier customer and an expansion of the Company’s existing Calgary facility, which was acquired earlier in the year with the…
Farfetch, Alibaba and Richemont form partnership to accelerate digitization of luxury industry
LONDON: Farfetch, Alibaba Group and Richemont announced a global strategic partnership to provide luxury brands with enhanced access to the China market as well as accelerate the digitization of the global luxury industry. Leveraging each company’s respective expertise and extensive reach, the partnership will bring luxury retail to the next generation by seamlessly integrating the…
Pure Extracts Technologies commences trading on the Canadian Securities Exchange
VANCOUVER: Pure Extracts Technologies Corp. announced that the company’s stock commenced trading on the Canadian Securities Exchange (CSE) under the symbol “PULL” on November 5, 2020. “There currently is a tremendous consumer demand for natural health products with the ability to immediately enhance our quality of life. With Health Canada officially granting Pure Extracts a…
Karolis Ceizaris appointed as CEO of Franmax
LONDON: As of 6 November, Karolis Ceizaris becomes the CEO of Franmax, a subsidiary of Maxima Grupė, which provides IT development, support and maintenance services to the group’s companies. He is replacing Mantas Kuncaitis who has been running Franmax. M. Kuncaitis will continue to serve as Maxima Grupė‘s CEO and Chairman of the Board. “With…
Cadeler intends $100 million IPO on the Oslo Stock Exchange
COPENHAGEN: Cadeler A/S has announced its intention to apply for a listing on the Oslo Stock Exchange through an initial public offering (IPO). The IPO is expected to comprise a primary offering of new ordinary shares in the Company raising gross proceeds of approximately USD 100 million. As part of the IPO, it is also…
Aramex’s revenue increased 19% to AED 1.5 billion in Q3 2020
DUBAI: Aramex, a leading global provider of comprehensive logistics and transportation solutions, announced third quarter (Q3) ended 30 September 2020 revenue increased by 19% to AED 1.507 billion, compared to AED 1.27 billion in Q3 2019. Top line rose across most of the Company’s business lines, with International Expressre bounding from the previous quarter as…