MILWAUKEE: Jason Industries Inc. has entered into a restructuring support agreement with certain of its senior secured lenders. The Agreement outlines a comprehensive restructuring plan that will ultimately deleverage the Company’s balance sheet by $250 million and anticipates that the Company’s vendors, suppliers, and customers will remain unaffected by the transaction. Upon implementation of certain…
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Key industrial parks unveiled in Hainan free-trade port
HAIKOU: A batch of key industrial parks were unveiled on June 3 in China’s island province of Hainan, in an effort to promote the construction of the Hainan free-trade port. The 11 key parks around the island cover three major fields, including tourism, modern services and advanced technologies. “The industrial parks are important areas to…
Amazon and Slack join forces to deliver the future of the enterprise workplace
SAN FRANCISCO: Amazon Web Services Inc. (AWS) and Slack Technologies Inc. announced a new multi-year agreement to deliver solutions for enhanced enterprise workforce collaboration. Slack and AWS will strategically partner to help distributed development teams communicate and become more efficient and agile in managing their AWS resources from inside Slack. Slack will migrate its Slack…
JCPenney provides update on store optimization strategy
PLANO, TEXAS: J. C. Penney Company has taken the first step in implementing its store optimization strategy. Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company, JCPenney identified the first phase of 154 store closures. Following entry of an order at the…
Ecolab to separate upstream energy business and merge ChampionX With Apergy
ST. PAUL: Ecolab Inc. announced both the successful completion of its split-off exchange offer for Ecolab common stock in connection with the previously announced separation of its Upstream Energy business (ChampionX Business) and the closing of the merger of ChampionX Holding Inc. with a subsidiary of Apergy Corporation. Pursuant to the exchange offer, Ecolab has…
Limelight Networks appoints Christine Cross lead to global marketing organization
SCOTTSDALE: Limelight Networks Inc., a provider of edge cloud services, announced Christine Cross has been appointed SVP, Chief Marketing Officer and will lead the company’s global marketing organization. In this role, she is responsible for all aspects of Limelight’s marketing strategy and execution including product management, demand generation, branding, strategic events and communications. “As we…
Granite REIT announces C$500 million green bond offering
TORONTO: Granite Real Estate Investment Trust’s wholly owned subsidiary Granite REIT Holdings Limited Partnership (Granite LP) has priced an offering of C$500 million aggregate principal amount of 3.062% Series 4 senior unsecured debentures due June 4, 2027. The Debentures will be guaranteed by Granite and Granite REIT Inc. The Offering of the Debentures is expected…
MeMed receives CE Mark in Europe for use of its pioneering technologies
HAIFA: MeMed Ltd., a leader in host response-based solutions, announced that it has received a CE Mark in Europe for use of its diagnostic test MeMed BVand point-of-need platform MeMed Key. “At its core, MeMed is about decoding the signals of the host-immune response to help physicians make better informed decisions that improve patients’ lives,”…
Laurent C. Therivel appointed President & CEO of U.S. Cellular
CHICAGO: U.S. Cellular announced that Laurent C. Therivel will be appointed President and Chief Executive Officer, effective July 1, 2020. Kenneth R. Meyers will be appointed to “Senior Advisor to the CEO” until his retirement on September 4, 2020. Meyers and Therivel will work closely to ensure a smooth transition period. Therivel will also be…
Hawaii American Water acquires Waimea Wastewater Company
HAWAII: Hawaii American Water acquired the assets and operations of the Waimea Wastewater Company Inc., and is the new wastewater service provider for those customers. Located on the Big Island of Hawaii, Waimea Wastewater Company is a regulated wastewater utility that serves approximately 217 residential and commercial connections, including North Hawaii Community Hospital and the…
Bombardier concludes sale of the CRJ Series Regional Jet Program to Mitsubishi Heavy Industries
MONTREAL: Bombardier confirmed the closing of the previously announced sale of the CRJ Series aircraft program to Mitsubishi Heavy Industries for a cash consideration of approximately $550 million, subject to post-closing adjustments and the assumption of liabilities by MHI related to credit and residual value guarantees and lease subsidies amounting to approximately $200 million. Through…
Yeahka Limited commences trading on the Hong Kong stock exchange
HONG KONG: Yeahka Limited, China’s leading payment and business service technology platform commences trading on the Main Board of Stock Exchange of Hong Kong Limited on June 1st 2020, under the stock code of 9923. CLSA, Nomura and ABCI are the joint sponsors. The total number of offer shares under the global offering amounts to…