In a significant shake-up at Tesla Inc., senior executives Drew Baglino and Rohan Patel have announced their departure from the leading electric vehicle and clean energy firm. The announcement was made public on Monday, with CEO Elon Musk expressing his gratitude towards the two departing executives on X, the social network platform he owns. The…
JF Petroleum Group has acquired GE Goodson Service Company
The JF Petroleum Group (JF) has acquired GE Goodson Service Company. Goodson is an established general contractor serving the petroleum equipment industry, headquartered in Midland, Texas, that also provides maintenance & repair and compliance testing services. Terms of the transaction were not disclosed. The GE Goodson Company has a long-standing history of providing exceptionally high-quality…
Red Dot Corporation appoints John Beering as new CEO
Red Dot Corporation, a global leader in mobile HVAC systems, has announced John Beering as its new Chief Executive Officer. With over three decades of diverse industry experience, Beering is set to replace John Kaestle, who successfully navigated the company through the COVID-19 crisis and expanded its manufacturing base. Kaestle will maintain his influence within…
Global Economic Shifts: Recession, Restructuring, and Rising Corporate Takeovers
The first quarter of 2024 has been marked by significant developments in the global economic landscape, influenced by financial restructuring, challenges stemming from a looming recession, geopolitical circumstances, and a notable increase in bankruptcy filings and corporate takeovers, particularly in the UK, USA, and Australia. Financial Restructuring and Bankruptcy Trends: The year began under the…
Vietnam’s FPT sets global tech agenda with ambitious 2024-2026 vision
FPT Corporation (FPT) has boldly outlined its strategic vision for the 2024-2026 period, setting a course that will not only shape its future but also potentially redefine global tech agenda. At the heart of this ambitious roadmap, unveiled at the 2024 Annual General Meeting, are five pivotal areas: Artificial Intelligence (AI), Automotive, Semiconductor, Digital Transformation,…
Prysmian Group to acquire Encore Wire in a €3.9 billion deal
Prysmian Group (BIT: PRY) has announced a definitive agreement to acquire Encore Wire Corporation (NASDAQ: WIRE), a leading North American manufacturer of electrical wire and cable, for $290.00 per share in cash. This transaction marks a strategic expansion for Prysmian Group, with the purchase price representing a 20% premium over the 30-day volume-weighted average share…
Berkshire Hathaway Specialty Insurance appoints Louis du Ché as country manager France
PARIS: Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Louis du Ché as the new Country Manager for France. Du Ché, who has been serving as the Country Manager for Belgium, will now extend his leadership to include France, a key market for BHSI’s continued growth. Alessandro Cerase, Head of Europe at BHSI,…
Claranova appoints Eric Gareau as Chief Executive Officer
PARIS: Claranova (Paris:CLA), a leading global technology company, announced the appointment of Eric Gareau as Chief Executive Officer, effective immediately. Mr Gareau succeeds Pierre Cesarini, who is leaving the company. Mr. Gareau has been the CEO of Avanquest, Claranova’s software publishing and distribution division, since 2021. He successfully led Avanquest’s transition to a subscription-based sales…
VINCI invests €50 million in renewable powerhouse NatPower SA
PARIS: Global infrastructure titan VINCI has sealed a deal to invest approximately €50 million into NatPower SA, the dynamic renewable energy platform known for its vigorous activity in Italy, Great Britain, and the United States since its inception in 2019. The investment package includes the purchase of a 10% equity share from NatPower’s founding visionary,…
Taranis invests in chemical plastics recycling company, Pryme N.V.
OSLO, NORWAY: Taranis Investment Limited, through its Taranis Carbon Ventures fund, made an investment of EUR 10 million into Pryme, an innovative cleantech company focused on converting plastic waste into valuable products through a fully electrical pyrolysis technology on an industrial scale. Pryme has developed a new cost-effective approach to pyrolysis that allows used plastic…
Ceres Power Holdings reports robust financial growth
HORSHAM, UK: Ceres Power Holdings plc (CWR.L), a global leader in the development of clean energy technologies, has proudly announced its financial results for the fiscal year ending December 31, 2023. The company has reported a significant increase in revenue, gross profit, and investment in research and development, highlighting its commitment to innovation and the…
Synthomer plc sells its latex compounding business to Matco NV for €27.5 million
LONDON, UK: Synthomer plc announced an agreement to divest its latex compounding business to Belgian company Matco NV, a leader in compounds, water-based adhesives, and solutions for various industrial applications, for consideration of c.€27.5 million. The latex compounds business, which is part of Synthomer’s Health & Protection and Performance Materials division, was designated as non-core…