LONDON, UK: BHP, the world’s largest mining company, has announced a US$4.9 billion investment to expand its Jansen potash project in Saskatchewan, Canada. The stage two investment will double the production capacity of the project to 8.5 million tonnes per annum, making it one of the world’s largest potash mines. The investment follows BHP’s approval…
Windstream names Paul Sunu as new CEO, Tony Thomas steps down
Windstream Holdings, a privately held communications and software company, has appointed Paul Sunu as its new President and CEO, effective immediately. He replaces Tony Thomas, who has left the Company and the Board after 17 years. Sunu has been the Chairman of the Board since 2020 and will keep his position. He has 27 years…
Cloyes Gear & Products acquires Rotomaster, expands its automotive aftermarket portfolio
Cloyes Gear & Products, Inc. (Cloyes), the global leader in timing drive systems and components for the automotive aftermarket, has acquired Rotomaster, a leading turbocharger and component specialist. The deal, whose terms were not disclosed, will enhance Cloyes’ product offerings and customer base. Rotomaster, founded in 1978, provides complete assemblies, individual components and service kits…
Atari to acquire Digital Eclipse Entertainment Partners Co for an initial $6.5 million
PARIS, FRANCE: Atari, one of the world’s most iconic consumer brands and interactive entertainment producers, has entered into an agreement to acquire Digital Eclipse Entertainment Partners Co (Digital Eclipse), a game development studio originally founded in 1992 focused on the digital restoration of classic video games, based in Emeryville, California. The acquisition of Digital Eclipse…
Samsung Electronics announces KRW 53.7 trillion capital expenditure plan
SEOUL, SOUTH KOREA: Samsung Electronics Co., Ltd. today announced its capital expenditure plan of approximately KRW 53.7 trillion for the period from January 1, 2023 to December 31, 2023, a document suggests. The company plans to invest in its key businesses, including memory, foundry, and display, to increase competitiveness and address future demand. The investment…
SITE Centers to spin off its Convenience assets into new REIT
SITE Centers Corp., a company that owns open-air shopping centers in affluent suburbs, plans to spin off its Convenience assets into a new public REIT called Curbline Properties Corp. Convenience assets are rows of shops that are located on the curbline of busy streets. The company says that this sector has low costs and high…
Safer and faster gold analysis goes global with MSALABS, Barrick and Chrysos partnership
A new partnership between MSALABS, Barrick Gold and Chrysos Corporation will bring PhotonAssay™ technology, a safer and faster way of analysing gold samples, to Barrick’s mines around the world. The three companies have already been working together successfully in Africa, where PhotonAssay™ has replaced the old and dangerous fire assay method. Now, they will expand…
ORR approves £43.1bn to deliver a safe and customer focused railway
LONDON, UK: The Office of Rail and Road (ORR) has today set out its Final Determination of Network Rail’s five-year, £43.1bn (£38.5bn in England and Wales, £4.6bn in Scotland) plans to deliver a safe and customer-focussed railway. The plans cover the five years from 1 April 2024, known as Control Period 7 (CP7). Since the…
IG Group slashes 10% of staff and £50m of costs to boost growth
LONDON, UK: IG Group, a London-based financial services company, is taking steps to make its business more efficient and profitable. The company plans to cut about 300 jobs, or 10% of its staff, by the end of FY23. It also aims to save £50 million a year by using its global hubs more effectively and…
Zegona Communications to acquire Vodafone Spain for €5.0 billion
LONDON, UK: Vodafone Group Plc has entered into binding agreements with Zegona Communications plc in relation to the sale of 100% of Vodafone Holdings Europe, S.L.U. (Vodafone Spain). On completion, Vodafone’s consideration will comprise at least €4.1 billion in cash and up to €0.9 billion in the form of Redeemable Preference Shares (RPS) which redeem,…
IDEX Corporation to buy STC Material Solutions for $206 million
IDEX Corporation, a global leader in fluidics and metering technologies, has agreed to acquire STC Material Solutions, a maker of technical ceramics and hermetic sealing products, from Artemis for $206m. The deal will enhance IDEX’s material science capabilities and create synergies with its other critical components businesses. It will also support IDEX’s growth strategy of…
Treasury Wine Estates buys DAOU Vineyards for upto US$1.0 billion
SYDNEY, AUSTRALIA: Treasury Wine Estates Ltd (TWE), the Australian wine company behind brands such as Penfolds and Beringer, has announced a major deal to acquire DAOU Vineyards, a leading luxury wine producer in California, for US$900 million. The deal also includes an additional payment of up to US$100m if DAOU meets certain sales growth targets…