SYDNEY, AUSTRALIA: Vimy Resources Limited announced the appointment of Dr Tony Chamberlain to the position of Chief Operating Officer (COO). Dr Tony Chamberlain first joined Vimy as an executive in 2014, where he successfully took the Mulga Rock Project (MRP) from concept to a Definitive Feasibility Study (DFS) in under 4 years. During this time,…
Ras Al Khaimah Cement buys IHC’s Apex Holding for AED3.05bn
ABU DHABI, UAE: Ras Al Khaimah Cement Investment (RAKCIC) has agreed to buy entire shares of International Holding Company (IHC) and Chimera Investments in APEX Holding in a AED 3.05 billion deal. Apex Holding is subsidiary of International Holding Company based in the United Arab Emirates. The company has diversified operating business model with investment…
6 Things Your Business Needs To Grow Faster
Every seasoned business owner will tell you that this whole journey is far from simple, especially in the beginning. There are so many things that you have to take into consideration before you proceed which oftentimes can be overwhelming. This is an uncharted territory that has to be thoroughly examined in order to avoid potential…
Magnit delivers 105,000 online orders in one day
KRASNODAR, RUSSIA: Magnit one of Russia’s leading retailers, delivered 105 thousand online orders to its customers in one day in the lead-up to the New Year. The record-high number of online orders for the company’s own delivery and partner services was set on December 30, 2021. The average “pre-New Year” ticket (December 17 to 31,…
NOVATEK and Fortum agree on renewable power supply
MOSCOW: NOVATEK’s joint venture Cryogas-Vysotsk signed a power purchase agreement for renewable electricity produced by the European energy company Fortum in Russia. The Agreement builds on the cooperation of NOVATEK and Fortum under the Memorandum of Understanding that the Parties signed at the Saint-Petersburg International Economic Forum in June 2021. According to the Agreement, the…
Ultra and Mahindra win £60 million contract with Indian Navy
LONDON, UK: Ultra Electronics in partnership with Mahindra Defence Systems Limited, won the Integrated Anti-Submarine Warfare Defence Suite (IADS) programme for selected frontline warships of the Indian Navy. The contract is worth approximately £60 million to Ultra. Deliveries are due to commence in 2024 and to be completed by 2030. IADS provides a powerful multi-sensor…
Haydale gets SMARTCymru grant to develop anti-counterfeiting technology
LONDON, UK: Haydale Graphene Industries has been awarded a SMARTCymru grant from The Welsh Government that will enable the Ammanford-based company to progress with the development of its anti-counterfeiting ink technology, PATit. The has a total cost of £169,000 and is expected to take six months to complete. The SMARTCymru grant, which is part-funded by…
Kinovo sells construction division, DCB for £5.0 million
LONDON, UK: Kinovo Plc has entered into an agreement to sell the company’s non-core construction division, DCB (Kent) Limited, for a total deferred consideration of up to £5.0 million. The construction division has been acquired by MCG Global Limited on the following terms, consisting of four constituent elements: · Firstly, up to £1.9 million will…
Schroder invests in renewed electronics marketplace, Back Market
LONDON, UK: Schroder UK Public Private Trust has made a €12.0 million investment in leading renewed electronics marketplace, Back Market (incorporated as Jung S.A.S.), as part of its $510 million Series E funding round. The round was led by Sprints Capital, together with Eurazeo Growth, Aglaé Ventures, General Atlantic, and Generation Investment Management. The Company…
Eidesvik Neptun signs deal for sale of the CSV Viking Neptun
BØMLO, NORWAY: Eidesvik Neptun AS, a subsidiary of Eidesvik Offshore ASA has entered into a Memorandum of Agreement (MoA) with Dredging, Environmental and Marine Engineering NV (DEME) for the sale of the CSV Viking Neptun. The MoA is expected to complete in the 4th Quarter of 2022, post completion of the ongoing contract with Havfram….
Helical Plc announces intention to convert to a REIT
LONDON, UK: Helical plc, a UK real estate investment company, announced its intention to convert to a REIT with effect from 1 April 2022. As part of this process, Helical will notify Her Majesty’s Revenue & Customs of the Company’s intention to convert into a REIT and will seek Helical shareholder approval to replace its…
Bunzl Plc acquires Tingley Rubber Corporation
LONDON, UK: Bunzl plc, the specialist international distribution and services group, has acquired Tingley Rubber Corporation, a distributor of own brand PPE based in New Jersey, US. The business is focused on protective footwear and apparel and has a strong product portfolio. Tingley generated revenue in 2021 of $68 million (c. £49 million). Commenting on…