NOVI: Lineage Logistics LLC, the world’s largest and most innovative provider of temperature-controlled logistics solutions, announced it has signed a definitive agreement to acquire Ontario Refrigerated Services Inc. (ORS), a leading family-operated cold storage company offering temperature-controlled space in the Greater Toronto market, marking Lineage’s entrance into the Canadian market. Established in 2003 by Founder…
Sierra Wireless to sell its China based product line for US$165 million
VANCOUVER: Sierra Wireless, the leading IoT solutions provider, announced a definitive agreement to divest its Shenzhen, China-based automotive embedded module product line for US$165 million in cash. The purchaser, Rolling Wireless (H.K.) Limited, is a consortium led by Fibocom Wireless Inc. of Shenzhen (Shenzhen Stock Exchange Code 300638). “This divestiture enables Sierra Wireless to strengthen…
IAG and American Express extend global partnership
LONDON: International Airlines Group (IAG) announces that it has signed a multi-year renewal extending its worldwide commercial partnership with American Express. Under the agreements American Express will make a payment to IAG Loyalty of approximately £750 million, a significant part of which is a pre-purchase of Avios points that American Express will utilise in the…
Provident Financial appoints David Shrimpton as MD of car finance division, Moneybarn
LONDON: Provident Financial plc announced the appointment of David Shrimpton as Managing Director of Moneybarn, its car finance division, subject to regulatory approval. He has been acting Managing Director of Moneybarn since March 2020, following Shamus Hodgson’s departure. David Shrimpton has excellent banking and consumer finance experience, in both customer service and operational roles. He…
Creo Medical Group acquires Albyn Medical for any equity value of €24.8 million
LONDON: Creo Medical Group plc, the medical device company focused on the emerging field of surgical endoscopy, announced the acquisition of Albyn Medical S.L., a European specialist in the supply and manufacture of Gastroenterology, Urology and Endoscopy products to healthcare providers, for an equity value of €24.8 million plus up to €2.7m of performance related…
NOVATEK shipped first LNG cargo to Japan via northern sea route
MOSCOW: PAO NOVATEK announced today that NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary, shipped the first cargo of liquefied natural gas (LNG) from the Yamal LNG project to Japan transported eastbound via the Northern Sea Route. The LNG cargo was delivered by the LNG tanker “Vladimir Rusanov” under a spot contract…
Most expensive schools criticised for turning a blind eye to bullying
GENEVA: Dr Eric Debarbieux, Professor Emeritus University of Paris-Est and a member of the International Observatory of Violence in Schools, has warned that some private schools are failing to protect their students from bullying and uphold values of tolerance and respect. Dr Eric Debarbieux has discussed how some schools are failing to adequately train their…
IHIG Pakistan expands its portfolio to build shopping malls
KARACHI: International Hospitality Investment Group (IHIG) Pakistan, a subsidiary of IHIG UK, announced expansion of its portfolio to build shopping malls, with the fractional ownership system. The first project under its real estate division is launched in the heart of Karachi as a part of IHIG’s investment expansion plans in Pakistan. Explaining the concept, Mr….
USDOT unveils guidance document for regulation of hyperloop in the United States
WASHINGTON: Today, US Department of Transportation (USDOT) Secretary Elaine Chao and the Non-Traditional and Emerging Transportation Technology (NETT) Council unveiled the guidance document on a clear regulatory framework for hyperloop in the United States. “This guidance bridges the gap between innovator and regulator, prioritizes safety during development without hampering innovation, and promotes mutual awareness between…
Silver Lake enters into exclusive negotiations to acquire Groupe Meilleurtaux
PARIS: Groupe Meilleurtaux, Silver Lake and West Street Capital Partners have entered into exclusive negotiations under which Silver Lake would acquire a majority stake in Groupe Meilleurtaux from West Street Capital Partners VII. Management would re-invest in Meilleurtaux alongside Silver Lake, a news release said. Hervé Hatt and Guillaume Autier, Chairman and CEO of Groupe…
Governments must step in now to stop the erosion of women’s economic security
TORONTO: Mounting evidence of the challenges facing women in Canada’s economic recovery demand immediate action, says United Steelworkers (USW) National Director Ken Neumann. “The gender gap existed before the pandemic. In the crisis, women lost more jobs than men, and those jobs are slower to return. Federal and provincial governments must step in now to…
BJ’s Wholesale Club announces plans to open two new clubs in New York
WESTBOROUGH: BJ’s Wholesale Club, a leading warehouse club operator in the Eastern United States, announced that the company is opening two new club locations in New York in early 2021. Located in Long Island City and Newburgh, the two clubs will bring local families 25% savings compared to grocery store prices and mark the 220th…