Tuesday, 30 January 2018
PAYVISION SECURES STRATEGIC INVESTMENT FROM ING GROUP
Speeding up further innovation in the payments space and business growth
AMSTERDAM, the Netherlands, Jan 29 (Bernama-GLOBE NEWSWIRE) -- Payvision, a global merchant acquirer and omnichannel payment provider, announced today a strategic partnership with ING, one of the largest European banks, with a strong international network. Payvision has agreed to sell a majority stake of 75%, creating a new synergy that will accelerate its ambitious growth plans within the dynamic payments market, extend its global network and broaden its payment product portfolio. Payvision is valued at €360 million.
Founded in 2002, in Amsterdam, Payvision is at the forefront of the payments industry and it has been growing at a very fast pace, registering a robust 66% volume growth in 2017. With the launch of Acapture, a new, scalable, data-driven payment service provider, in 2015, Payvision aims to bolster group’s position as a global merchant acquirer and omnichannel payment provider. The partnership with ING builds on Payvision’s strong foundation in the acquiring space and will support company’s goal to create innovative, tailor-made payments products designed for the fast-paced international retail environment.
According to the deal, Payvision’s founding management team will hold a 25% minority stake and will continue to lead the company, backed-up by ING’s global presence and retail market share, its vast experience in financial services and its ability to streamline payment products.
Rudolf Booker, founder and CEO of Payvision, said: “It’s with great excitement that we’re announcing the partnership with ING today. Within 15 years of the company’s inception, we feel it’s the right time to make such a strategic step to strengthen the company’s foothold in the payments industry.” “This investment in the payments market, made by one of the world’s most innovative financial and banking services brands, acknowledges our vision to deliver leading payments capabilities to support customers to maximize their revenues,” continued Booker.
http://mrem.bernama.com/viewsm.php?idm=31051
AMSTERDAM, the Netherlands, Jan 29 (Bernama-GLOBE NEWSWIRE) -- Payvision, a global merchant acquirer and omnichannel payment provider, announced today a strategic partnership with ING, one of the largest European banks, with a strong international network. Payvision has agreed to sell a majority stake of 75%, creating a new synergy that will accelerate its ambitious growth plans within the dynamic payments market, extend its global network and broaden its payment product portfolio. Payvision is valued at €360 million.
Founded in 2002, in Amsterdam, Payvision is at the forefront of the payments industry and it has been growing at a very fast pace, registering a robust 66% volume growth in 2017. With the launch of Acapture, a new, scalable, data-driven payment service provider, in 2015, Payvision aims to bolster group’s position as a global merchant acquirer and omnichannel payment provider. The partnership with ING builds on Payvision’s strong foundation in the acquiring space and will support company’s goal to create innovative, tailor-made payments products designed for the fast-paced international retail environment.
According to the deal, Payvision’s founding management team will hold a 25% minority stake and will continue to lead the company, backed-up by ING’s global presence and retail market share, its vast experience in financial services and its ability to streamline payment products.
Rudolf Booker, founder and CEO of Payvision, said: “It’s with great excitement that we’re announcing the partnership with ING today. Within 15 years of the company’s inception, we feel it’s the right time to make such a strategic step to strengthen the company’s foothold in the payments industry.” “This investment in the payments market, made by one of the world’s most innovative financial and banking services brands, acknowledges our vision to deliver leading payments capabilities to support customers to maximize their revenues,” continued Booker.
http://mrem.bernama.com/viewsm.php?idm=31051
METRON WINS AIR TRAFFIC FLOW MANAGEMENT CONTRACT FROM CIVIL AVIATION AUTHORITY OF SINGAPORE
DULLES, Va., Jan 30 (Bernama-GLOBE NEWSWIRE) -- The Civil Aviation Authority of Singapore (CAAS) has awarded Metron Aviation, a subsidiary of Airbus, an Air Traffic Flow Management (ATFM) system contract. This system will be located at the Singapore Air Traffic Control Centre (SATCC).
Metron will be responsible for the design, supply, delivery, installation, integration, testing and commissioning of the ATFM system over a 23-month period and a 10-year after sales support service beginning after initial system acceptance.
Metron will supply Harmony, its flagship ATFM automation product for air navigation service providers. Harmony provides advanced features to monitor air traffic demand in airspace areas and at airports in the strategic, pre-tactical, and tactical timeframes. Harmony also provides advanced decision support tools to facilitate the modeling of Traffic Management Initiatives (TMI) and the implementation of these initiatives in situations of demand and capacity imbalance.
Harmony also provides complete functionality for aircraft operator’s collaborative decision making in the ATFM process to ensure that ATFM actions reflect a plan optimized across all aviation system participants.
“We are proud to have been selected for this contract by CAAS, a premier provider of air navigation services,” said John Kefaliotis, President, Metron Aviation. “CAAS has a leadership role in the development of a regional ATFM concept for the Asia-Pacific region that will become a model for regional ATFM cooperation around the world.”
“The CAAS selection of the Harmony platform to support this concept testifies to the advanced capabilities of the product, which are highly supportive of regional ATFM concepts,” said Kefaliotis.
The contract duration is approximately 11 years, with the following major milestones:
Metron will be responsible for the design, supply, delivery, installation, integration, testing and commissioning of the ATFM system over a 23-month period and a 10-year after sales support service beginning after initial system acceptance.
Metron will supply Harmony, its flagship ATFM automation product for air navigation service providers. Harmony provides advanced features to monitor air traffic demand in airspace areas and at airports in the strategic, pre-tactical, and tactical timeframes. Harmony also provides advanced decision support tools to facilitate the modeling of Traffic Management Initiatives (TMI) and the implementation of these initiatives in situations of demand and capacity imbalance.
Harmony also provides complete functionality for aircraft operator’s collaborative decision making in the ATFM process to ensure that ATFM actions reflect a plan optimized across all aviation system participants.
“We are proud to have been selected for this contract by CAAS, a premier provider of air navigation services,” said John Kefaliotis, President, Metron Aviation. “CAAS has a leadership role in the development of a regional ATFM concept for the Asia-Pacific region that will become a model for regional ATFM cooperation around the world.”
“The CAAS selection of the Harmony platform to support this concept testifies to the advanced capabilities of the product, which are highly supportive of regional ATFM concepts,” said Kefaliotis.
The contract duration is approximately 11 years, with the following major milestones:
- Phase 1: Commissioning of the operational ATFM system, to occur 10 months after award;
- Phase 2: Commissioning of the ATFM system’s enhanced services, scheduled for 20 months after award;
- Completion of the system, which will occur three months after commissioning of Phase 2; and
- Ten annual options for support services for both hardware and software.
Metron will be responsible for the overall system implementation and maintenance over the duration of the contract. Metron Aviation is teamed with Singapore Technologies Electronic Limited, which will provide in-country services to include acquisition, storage, installation and maintenance of the primary equipment, as well as spare parts, for the duration of the contract.
About Metron Aviation
Founded in 1995, Metron Aviation is a trusted and proven innovator in the air traffic management (ATM) industry. A subsidiary of Airbus Americas, Metron Aviation has an honored past, developing ATM and air traffic flow management solutions for the global aviation industry, including the Federal Aviation Administration. By working with all stakeholders in the ATM ecosystem — air navigation service providers, airlines, airports, civil aviation authorities and other influencers — through its Collaborative Decision Making (CDM) process, Metron Aviation understands ATM’s greatest issues. It fuses advanced science and mathematics with unparalleled subject-matter expertise to turn groundbreaking ATM research concepts into next-generation operational capabilities. For more information, please visit www.metronaviation.com.
Contact:
Quentin Hunstad
Quentin.hunstad@airbus.com
571.306.7243
SOURCE: Airbus Americas, Inc.
--BERNAMA
Monday, 29 January 2018
TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION RELEASES SMALL DUAL MOSFET FOR RELAY DRIVERS
TOKYO, Jan 29 (Bernama-BUSINESS WIRE) -- Toshiba Electronic Devices & Storage Corporation today announced the launch of “SSM6N357R,” a new MOSFET with a built-in diode between the drain and gate terminals. The device is suited to driving inductive loads, such as mechanical relays. Volume shipments start today.
SSM6N357R integrates a pull-down resistor, a series resistor and a Zener diode, which reduces the parts count and save on board space. Furthermore, since it is a dual-type package product (2 in 1), it has an approximately 42% smaller mounting area than the alternative of using two SSM3K357R (2.4 x 2.9 x 0.8 mm) single-type package products.
An industry-standard TSOP6F-class package, a low operating voltage of 3.0V and AEC-Q101 qualification make the SSM6N357R suitable for automotive and many other applications.
http://mrem.bernama.com/viewsm.php?idm=31050
SSM6N357R integrates a pull-down resistor, a series resistor and a Zener diode, which reduces the parts count and save on board space. Furthermore, since it is a dual-type package product (2 in 1), it has an approximately 42% smaller mounting area than the alternative of using two SSM3K357R (2.4 x 2.9 x 0.8 mm) single-type package products.
An industry-standard TSOP6F-class package, a low operating voltage of 3.0V and AEC-Q101 qualification make the SSM6N357R suitable for automotive and many other applications.
http://mrem.bernama.com/viewsm.php?idm=31050
FEDEX COMMITTING MORE THAN $3.2 BILLION IN WAGE INCREASES, BONUSES, PENSION FUNDING AND EXPANDED U.S. CAPITAL INVESTMENT FOLLOWING THE PASSAGE OF THE TAX CUTS AND JOBS ACT
MEMPHIS, Tenn., Jan 29 (Bernama-BUSINESS WIRE) -- FedEx Corporation is announcing three major programs today following the recently enacted U.S. Tax Cuts and Jobs Act:
1) Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance-based incentive plans for salaried personnel.
2) A voluntary contribution of $1.5 billion to the FedEx pension plan to ensure it remains one of the best funded retirement programs in the country.
3) Investing $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.
FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States.
The company has made no change to its fiscal 2018 earnings or capital expenditure guidance as issued on December 19, 2017, as a result of these actions.
Corporate Overview
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $62 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 400,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.
Forward-Looking Statements
The additional pension contribution is expected to be funded in the third quarter of fiscal 2018 through available debt financing sources.
Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, a significant data breach or other disruption to our technology infrastructure, the ongoing impact of the June 27 cyberattack affecting TNT Express, our ability to successfully integrate the businesses and operations of FedEx Express and TNT Express in the expected time frame or at the expected cost, changes in fuel prices or currency exchange rates, our ability to match capacity to shifting volume levels, new U.S. domestic or international government regulation, our ability to effectively operate, integrate and leverage acquired businesses, our ability to achieve our FedEx Express segment profit improvement goal, legal challenges or changes related to owner-operators engaged by FedEx Ground and the drivers providing services on their behalf, disruptions or modifications in service by, or changes in the business or financial soundness of, the U.S. Postal Service, the availability of financing on terms acceptable to us, the impact from any terrorist activities or international conflicts, and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contacts
FedEx Corp.
Patrick Fitzgerald, 901-818-7300
Source: FedEx Corporation
View this news release online at:
http://www.businesswire.com/news/home/20180126005307/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=31040
1) Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance-based incentive plans for salaried personnel.
2) A voluntary contribution of $1.5 billion to the FedEx pension plan to ensure it remains one of the best funded retirement programs in the country.
3) Investing $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.
FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States.
The company has made no change to its fiscal 2018 earnings or capital expenditure guidance as issued on December 19, 2017, as a result of these actions.
Corporate Overview
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $62 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 400,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.
Forward-Looking Statements
The additional pension contribution is expected to be funded in the third quarter of fiscal 2018 through available debt financing sources.
Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, a significant data breach or other disruption to our technology infrastructure, the ongoing impact of the June 27 cyberattack affecting TNT Express, our ability to successfully integrate the businesses and operations of FedEx Express and TNT Express in the expected time frame or at the expected cost, changes in fuel prices or currency exchange rates, our ability to match capacity to shifting volume levels, new U.S. domestic or international government regulation, our ability to effectively operate, integrate and leverage acquired businesses, our ability to achieve our FedEx Express segment profit improvement goal, legal challenges or changes related to owner-operators engaged by FedEx Ground and the drivers providing services on their behalf, disruptions or modifications in service by, or changes in the business or financial soundness of, the U.S. Postal Service, the availability of financing on terms acceptable to us, the impact from any terrorist activities or international conflicts, and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contacts
FedEx Corp.
Patrick Fitzgerald, 901-818-7300
Source: FedEx Corporation
View this news release online at:
http://www.businesswire.com/news/home/20180126005307/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=31040
DAVID BINKS, FEDEX EXPRESS EUROPE PRESIDENT AND CEO OF TNT, TO RETIRE
Bert Nappier to Succeed Binks June 1, 2018
MEMPHIS, Tenn., Jan 26 (Bernama-BUSINESS WIRE) -- FedEx Corporation (NYSE: FDX) today announced that David Binks, FedEx Express Europe president and CEO of TNT, will retire in June.
Bert Nappier, currently FedEx Express senior vice president of finance - international, will succeed Binks in the role effective June 1, 2018.
MEMPHIS, Tenn., Jan 26 (Bernama-BUSINESS WIRE) -- FedEx Corporation (NYSE: FDX) today announced that David Binks, FedEx Express Europe president and CEO of TNT, will retire in June.
Bert Nappier, currently FedEx Express senior vice president of finance - international, will succeed Binks in the role effective June 1, 2018.
TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION INTRODUCES SOI PROCESS WITH LOW NOISE FIGURE FOR LOW-NOISE RF AMPLIFIERS FOR SMARTPHONES
TOKYO, Jan 26 (Bernama-BUSINESS WIRE) -- Toshiba Electronic Devices & Storage Corporation today announced the development of "TaRF10," a next generation TarfSOI™ (Toshiba advanced RF SOI[1]) process optimized for low-noise amplifiers (LNAs) in smartphone applications.
In recent years, the increasing speed of mobile data communication has expanded use of RF switches and filters in the analog front end of mobile devices. The resulting increase in signal loss between antenna and receiver circuit has degraded receiver sensitivity, and focused attention on LNAs with a low noise figure[2] (NF) as a means to compensate for signal loss and improve the integrity of the received signal.
In recent years, the increasing speed of mobile data communication has expanded use of RF switches and filters in the analog front end of mobile devices. The resulting increase in signal loss between antenna and receiver circuit has degraded receiver sensitivity, and focused attention on LNAs with a low noise figure[2] (NF) as a means to compensate for signal loss and improve the integrity of the received signal.
ALGECO SCOTSMAN ANNOUNCES AVAILABILITY OF CERTAIN INFORMATION
BALTIMORE, Jan 26 (Bernama-GLOBE NEWSWIRE) -- Algeco/Scotsman Holding S.Ã r.l. (together with its subsidiaries, "Algeco Scotsman") today announced that it has made available certain information relating to Algeco Scotsman on its website, which contains an update on the financial performance of the Group and certain other information and can be accessed at http://www.algecoscotsman.com/pdf/Algeco-Information-Release_Jan_25_2018.pdf
LIGHTBRIDGE AND FRAMATOME LAUNCH ENFISSION TO COMMERCIALIZE INNOVATIVE NUCLEAR FUEL
RESTON, Va., Jan 26 (Bernama-GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR) (the "Company"), a nuclear fuel technology company, and Framatome, a leader in nuclear fuel, components and reactor services, finalized and launched Enfission, a 50-50 joint venture company to develop, license and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Lightbridge is a U.S. nuclear fuel development company and Framatome is a leader in designing, building, servicing, and fueling today's reactor fleet and advancing nuclear energy.
The two companies already began joint fuel development and regulatory licensing work under previously signed agreements initiated in March 2016. The joint venture is a Delaware-based limited liability company.
The two companies already began joint fuel development and regulatory licensing work under previously signed agreements initiated in March 2016. The joint venture is a Delaware-based limited liability company.
Friday, 26 January 2018
A.M. BEST AFFIRMS CREDIT RATINGS OF THE DAI-ICHI LIFE INSURANCE COMPANY, LIMITED
HONG KONG, Jan 26 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” of The Dai-ichi Life Insurance Company, Limited (DL) (Japan), a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect DL’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
DL’s very strong balance sheet is underpinned by risk-adjusted capitalization that A.M. Best considers to be at the strongest level and by a positive impact from the holding company, which is offset partially by DL’s moderate asset/liability duration gap. The company’s capital requirements, as measured by Best’s Capital Adequacy Ratio (BCAR), continue to be driven by asset risk due to its sizeable investment assets relative to its shareholder funds. DL’s financial leverage remains adequate for the current ratings.
DL’s profitability remains strong, demonstrated by a relatively high level of operating return on equity. However, the company has reported a modest level of volatility in its operating results, which are susceptible to financial market conditions.
DL has a well-diversified portfolio in terms of business lines and geography. The company carries a moderate level of product risk due to having some concentration of long-duration policies in its domestic life insurance businesses.
Negative rating actions could occur if there is material deterioration in the company’s risk-adjusted capitalization or sustained deterioration in its operating performance.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
A.M. Best
Seewon Oh, +852 2827 3404
Associate Director, Analytics
seewon.oh@ambest.com
or
Christie Lee, +852 2827 3413
Director, Analytics
christie.lee@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Source: A.M. Best
View this news release online at:
http://www.businesswire.com/news/home/20180125006021/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=31025
The ratings reflect DL’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
DL’s very strong balance sheet is underpinned by risk-adjusted capitalization that A.M. Best considers to be at the strongest level and by a positive impact from the holding company, which is offset partially by DL’s moderate asset/liability duration gap. The company’s capital requirements, as measured by Best’s Capital Adequacy Ratio (BCAR), continue to be driven by asset risk due to its sizeable investment assets relative to its shareholder funds. DL’s financial leverage remains adequate for the current ratings.
DL’s profitability remains strong, demonstrated by a relatively high level of operating return on equity. However, the company has reported a modest level of volatility in its operating results, which are susceptible to financial market conditions.
DL has a well-diversified portfolio in terms of business lines and geography. The company carries a moderate level of product risk due to having some concentration of long-duration policies in its domestic life insurance businesses.
Negative rating actions could occur if there is material deterioration in the company’s risk-adjusted capitalization or sustained deterioration in its operating performance.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
A.M. Best
Seewon Oh, +852 2827 3404
Associate Director, Analytics
seewon.oh@ambest.com
or
Christie Lee, +852 2827 3413
Director, Analytics
christie.lee@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Source: A.M. Best
View this news release online at:
http://www.businesswire.com/news/home/20180125006021/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=31025
BEST'S BRIEFING: TYPHOON HATO SHOWS MACAU'S INSURANCE AND REINSURANCE MODELS TO BE ROBUST
HONG KONG, Jan 26 (Bernama-BUSINESS WIRE) -- The Macau non-life insurance industry ability to withstand 2017’s Typhoon Hato (Hato) shows that despite the market’s small size, it remains a healthy one, with well-capitalized companies that have strong earning capabilities to help withstand losses, according to a new A.M. Best briefing.
The new Best’s Briefing, titled “Typhoon Hato Shows Macau’s (Re)insurance Models to be Robust,” states that Macau’s insurance regulator takes a conservative approach by requiring a minimum solvency margin for non-life business based on gross premiums written. Under these high capital requirements, local insurance companies tend to focus on the bottom line in order to deliver their shareholders an expected return-on-equity (ROE). As a result, the earning capabilities of the top three non-life insurers in Macau, which represent 70% of the market share, are considered strong, with five-year ROEs ranging from 9% to 24%.
The vast majority of insured losses associated with Hato were ceded to the international reinsurance market, with only a very small portion retained in the local market. As a result, the net retained losses from Hato, which made landfall in August 2007 as the strongest typhoon to hit Macau in more than half a century, are manageable for local insurers. Although Macau is an affluent city, risk awareness is relatively low. Because of this, personal lines penetration is low, with fairly simple product offerings that meet only basic needs.
Overall, A.M. Best believes the net retained typhoon loss is an earnings event rather than a capital event, as the market is well-capitalized and well-protected by reinsurance. Non-life insurers have experienced stable and profitable performance in the past, and A.M. Best expects these companies will recover their losses from Hato in a couple of years.
For the full copy of this briefing, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=269978.
A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
A.M. Best
Christie Lee, +852-2827-3413
Director, Analytics
christie.lee@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Source: A.M. Best
View this news release online at:
http://www.businesswire.com/news/home/20180125005822/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=31021
The new Best’s Briefing, titled “Typhoon Hato Shows Macau’s (Re)insurance Models to be Robust,” states that Macau’s insurance regulator takes a conservative approach by requiring a minimum solvency margin for non-life business based on gross premiums written. Under these high capital requirements, local insurance companies tend to focus on the bottom line in order to deliver their shareholders an expected return-on-equity (ROE). As a result, the earning capabilities of the top three non-life insurers in Macau, which represent 70% of the market share, are considered strong, with five-year ROEs ranging from 9% to 24%.
The vast majority of insured losses associated with Hato were ceded to the international reinsurance market, with only a very small portion retained in the local market. As a result, the net retained losses from Hato, which made landfall in August 2007 as the strongest typhoon to hit Macau in more than half a century, are manageable for local insurers. Although Macau is an affluent city, risk awareness is relatively low. Because of this, personal lines penetration is low, with fairly simple product offerings that meet only basic needs.
Overall, A.M. Best believes the net retained typhoon loss is an earnings event rather than a capital event, as the market is well-capitalized and well-protected by reinsurance. Non-life insurers have experienced stable and profitable performance in the past, and A.M. Best expects these companies will recover their losses from Hato in a couple of years.
For the full copy of this briefing, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=269978.
A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts
A.M. Best
Christie Lee, +852-2827-3413
Director, Analytics
christie.lee@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
Source: A.M. Best
View this news release online at:
http://www.businesswire.com/news/home/20180125005822/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=31021
BUDDHIST LEADER IKEDA URGES HUMAN RIGHTS FOCUS AS KEY TO RESOLUTION OF GLOBAL ISSUES AND NUCLEAR WEAPONS ABOLITION
TOKYO, Jan 26 (Bernama-AsiaNet) -- On January 26, 2018, Buddhist philosopher Daisaku Ikeda, President of the Soka Gakkai International (SGI), issued his annual peace proposal, titled "Toward an Era of Human Rights: Building a People's Movement."
Ikeda welcomes the July 2017 adoption of the Treaty on the Prohibition of Nuclear Weapons (TPNW) as a turning point in the global history of efforts to achieve peace and disarmament, emphatic that while nuclear weapons exist, a world of peace and human rights will remain elusive. He outlines strategies for gaining support for the Treaty from the nuclear-weapon states and nuclear-dependent states.
Ikeda welcomes the July 2017 adoption of the Treaty on the Prohibition of Nuclear Weapons (TPNW) as a turning point in the global history of efforts to achieve peace and disarmament, emphatic that while nuclear weapons exist, a world of peace and human rights will remain elusive. He outlines strategies for gaining support for the Treaty from the nuclear-weapon states and nuclear-dependent states.
Thursday, 25 January 2018
AMERITAS INCREASES BUSINESS AGILITY AND IT SECURITY WITH CISCO APPLICATION CENTRIC INFRASTRUCTURE
Single-pane-of-glass management makes network operations easier and more scalable
SAN JOSE, Calif., Jan 25 (Bernama-GLOBE NEWSWIRE) -- Ameritas, a large insurance company headquartered in Lincoln, Nebraska, has selected Cisco® computing, networking and security technology as the foundation for upgrading its data centers. The goal of the infrastructure upgrade was to improve agility and operational efficiency while increasing IT security.
Supporting close to 1000 applications, the new technology infrastructure has reduced capex by 30 to 40 percent in switching devices alone and freed up 25 to 30 percent of the network operations team's time, allowing them to focus on more strategic initiatives.
SAN JOSE, Calif., Jan 25 (Bernama-GLOBE NEWSWIRE) -- Ameritas, a large insurance company headquartered in Lincoln, Nebraska, has selected Cisco® computing, networking and security technology as the foundation for upgrading its data centers. The goal of the infrastructure upgrade was to improve agility and operational efficiency while increasing IT security.
Supporting close to 1000 applications, the new technology infrastructure has reduced capex by 30 to 40 percent in switching devices alone and freed up 25 to 30 percent of the network operations team's time, allowing them to focus on more strategic initiatives.
RADWARE EXPANDS CLOUD SECURITY AND GLOBAL FOOTPRINT
MAHWAH, N.J., Jan 24 (Bernama-GLOBE NEWSWIRE) -- Radware® (NASDAQ:RDWR), a leading provider of cyber security and application delivery solutions, is rapidly expanding the capacity of all its scrubbing centers, which increases the global mitigation capacity of Radware cloud security network to more than 3.5Tbps of traffic and over 6 Billion packets per second (PPS). All of Radware’s scrubbing centers leverage the company’s award-winning DefensePro® DDoS mitigation appliances. As part of the capacity growth, Radware is opening more Data Centers globally supporting localization of security services, GDPR requirements and in-country cloud security.
“By enhancing our global scrubbing capabilities, we are able to provide more comprehensive support to our customers, both globally and regionally,” said Haim Zelikovsky, Vice President of Cloud Business at Radware. “We are able to handle the most pernicious attacks from their region of origin and keep legitimate traffic within its destination region, which goes a long way toward reducing latency and keeping our clients up and running.”
“By enhancing our global scrubbing capabilities, we are able to provide more comprehensive support to our customers, both globally and regionally,” said Haim Zelikovsky, Vice President of Cloud Business at Radware. “We are able to handle the most pernicious attacks from their region of origin and keep legitimate traffic within its destination region, which goes a long way toward reducing latency and keeping our clients up and running.”
CYBERINC PARTNERS WITH ECS TO DRIVE RAPID GROWTH OF ISLA ACROSS APAC
ECS Computers to distribute Isla Malware Isolation Platform across small, medium and enterprise segments
SINGAPORE, Jan 24 (Bernama-GLOBE NEWSWIRE) -- Cyberinc today announced that it has added ECS Computers Asia Pte. Ltd. - one of the largest providers of ICT products and services in APAC- as an Authorized Distributor for Isla Malware Isolation platform. The partnership will streamline ECS's access to Isla Malware Isolation system and help cater to Endpoint Security needs of the local IT businesses in the region.
ECS is recognized as a leading distribution partner of several leading product vendors in Singapore. As an authorized distributor, ECS will expand its portfolio of security solutions to include Cyberinc's Isla Malware Isolation Platform that helps customers isolate and thus, prevent all web-borne malware attacking their enterprise from entering the network.
SINGAPORE, Jan 24 (Bernama-GLOBE NEWSWIRE) -- Cyberinc today announced that it has added ECS Computers Asia Pte. Ltd. - one of the largest providers of ICT products and services in APAC- as an Authorized Distributor for Isla Malware Isolation platform. The partnership will streamline ECS's access to Isla Malware Isolation system and help cater to Endpoint Security needs of the local IT businesses in the region.
ECS is recognized as a leading distribution partner of several leading product vendors in Singapore. As an authorized distributor, ECS will expand its portfolio of security solutions to include Cyberinc's Isla Malware Isolation Platform that helps customers isolate and thus, prevent all web-borne malware attacking their enterprise from entering the network.
Wednesday, 24 January 2018
Tuesday, 23 January 2018
CALVIN KLEIN, INC. ANNOUNCES THE SPRING/SUMMER 2018 CALVIN KLEIN UNDERWEAR AND CALVIN KLEIN JEANS GLOBAL ADVERTISING CAMPAIGN
Campaign Led by Kim Kardashian West, Khloé Kardashian, Kourtney Kardashian, Kendall Jenner and Kylie Jenner
NEW YORK, Jan 23 (Bernama-BUSINESS WIRE) -- Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. [NYSE:PVH], today announced its new CALVIN KLEIN UNDERWEAR and CALVIN KLEIN JEANS global multi-media advertising campaign. The campaign represents the latest iteration of the evolution in the CALVIN KLEIN brand’s globally recognized #MYCALVINS call to action: Our Family. #MYCALVINS.
Shot by photographer Willy Vanderperre, the latest chapter of this new campaign features sisters Kim Kardashian West, Khloé Kardashian, Kourtney Kardashian, Kendall Jenner and Kylie Jenner. The siblings are featured wearing styles of CALVIN KLEIN UNDERWEAR that are available in stores and online now, including CALVIN KLEIN Modern Cotton and the new CALVIN KLEIN Body range. In addition, certain members of the family are featured in core styles of CALVIN KLEIN JEANS as well as looks from the Spring 2018 CALVIN KLEIN JEANS collection.
The evolved #MYCALVINS concept has family at its center, a display of unity between strong individuals, further emphasized by the symbolism of the traditional American quilt. This campaign captures these bonds and brings to life different ways we can inspire families - both born and made - to connect with one another, and celebrate the things that unite us.
This launch marks the latest moment of the new Our Family. #MYCALVINS campaign rollout, with a series of campaign launches that kicked off in November 2017 with Solange, Kelela, Dev Hynes, Caroline Polachek and Adam Bainbridge of Kindness, as well as A$AP Rocky, A$AP Ferg, A$AP Nast, A$AP Twelvyy, A$AP Ant, A$AP Lou, and A$AP J. Scott of A$AP Mob, and most recently with Kaia and Presley Gerber. The campaign will run through the Spring 2018 season, and the talent featured will represent the bridging of several generations stylistically, musically and culturally. They will bring their stories to life as “Our Family” with family and community at the epicenter of the conversation.
CALVIN KLEIN continues to embrace a digital first, socially powered mindset in communicating the Our Family. #MYCALVINS narrative across all consumer-centric channels. With over 100 million impressions in the digital and social space, across 12 countries globally, with key high impact outdoor in several key markets, the #MYCALVINS campaign is designed to create magnetic consumer engagement across the spectrum of the CALVIN KLEIN brand’s followers.
CALVIN KLEIN is a global lifestyle brand that exemplifies bold, progressive ideals and a seductive aesthetic. We seek to thrill and inspire our audience while using provocative imagery and striking designs to ignite the senses.
Founded in 1968 by Calvin Klein and his business partner Barry Schwartz, we have built our reputation as a leader in American fashion through our clean aesthetic and innovative designs. Global retail sales of CALVIN KLEIN brand products exceeded $8 billion in 2016 and were distributed in over 110 countries. CALVIN KLEIN employs over 10,000 associates globally. We were acquired by PVH Corp. in 2003.
With a history going back over 135 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 35,000 associates operating in over 40 countries and over $8 billion in annual revenues. We own the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s and Olga brands, as well as the digital-centric True & Co. intimates brand, and market a variety of goods under these and other nationally and internationally known owned and licensed brands.
http://mrem.bernama.com/viewsm.php?idm=30997
NEW YORK, Jan 23 (Bernama-BUSINESS WIRE) -- Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. [NYSE:PVH], today announced its new CALVIN KLEIN UNDERWEAR and CALVIN KLEIN JEANS global multi-media advertising campaign. The campaign represents the latest iteration of the evolution in the CALVIN KLEIN brand’s globally recognized #MYCALVINS call to action: Our Family. #MYCALVINS.
Shot by photographer Willy Vanderperre, the latest chapter of this new campaign features sisters Kim Kardashian West, Khloé Kardashian, Kourtney Kardashian, Kendall Jenner and Kylie Jenner. The siblings are featured wearing styles of CALVIN KLEIN UNDERWEAR that are available in stores and online now, including CALVIN KLEIN Modern Cotton and the new CALVIN KLEIN Body range. In addition, certain members of the family are featured in core styles of CALVIN KLEIN JEANS as well as looks from the Spring 2018 CALVIN KLEIN JEANS collection.
The evolved #MYCALVINS concept has family at its center, a display of unity between strong individuals, further emphasized by the symbolism of the traditional American quilt. This campaign captures these bonds and brings to life different ways we can inspire families - both born and made - to connect with one another, and celebrate the things that unite us.
This launch marks the latest moment of the new Our Family. #MYCALVINS campaign rollout, with a series of campaign launches that kicked off in November 2017 with Solange, Kelela, Dev Hynes, Caroline Polachek and Adam Bainbridge of Kindness, as well as A$AP Rocky, A$AP Ferg, A$AP Nast, A$AP Twelvyy, A$AP Ant, A$AP Lou, and A$AP J. Scott of A$AP Mob, and most recently with Kaia and Presley Gerber. The campaign will run through the Spring 2018 season, and the talent featured will represent the bridging of several generations stylistically, musically and culturally. They will bring their stories to life as “Our Family” with family and community at the epicenter of the conversation.
CALVIN KLEIN continues to embrace a digital first, socially powered mindset in communicating the Our Family. #MYCALVINS narrative across all consumer-centric channels. With over 100 million impressions in the digital and social space, across 12 countries globally, with key high impact outdoor in several key markets, the #MYCALVINS campaign is designed to create magnetic consumer engagement across the spectrum of the CALVIN KLEIN brand’s followers.
CALVIN KLEIN is a global lifestyle brand that exemplifies bold, progressive ideals and a seductive aesthetic. We seek to thrill and inspire our audience while using provocative imagery and striking designs to ignite the senses.
Founded in 1968 by Calvin Klein and his business partner Barry Schwartz, we have built our reputation as a leader in American fashion through our clean aesthetic and innovative designs. Global retail sales of CALVIN KLEIN brand products exceeded $8 billion in 2016 and were distributed in over 110 countries. CALVIN KLEIN employs over 10,000 associates globally. We were acquired by PVH Corp. in 2003.
With a history going back over 135 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 35,000 associates operating in over 40 countries and over $8 billion in annual revenues. We own the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s and Olga brands, as well as the digital-centric True & Co. intimates brand, and market a variety of goods under these and other nationally and internationally known owned and licensed brands.
http://mrem.bernama.com/viewsm.php?idm=30997
REVEAL GROUP TEAMS UP WITH ABBYY TO ENHANCE INTELLIGENT AUTOMATION WITH ADVANCED OCR AND INTELLIGENT CAPTURE TECHNOLOGIES
Global RPA experts, Reveal Group, have partnered with ABBYY, a leading provider of intelligent capture solutions, to augment traditional RPA solutions.
SYDNEY, Jan 23 (Bernama-BUSINESS WIRE) -- In a collaboration set to enhance and push the possibilities of Robotic Process Automation (RPA), Reveal Group, the global leader in operational transformation, today announced its strategic partnership with software vendor, ABBYY. Partnership with the most advanced and comprehensive Optical Character Recognition (OCR) and Intelligent Capture solutions provider in the market will extend Reveal Group’s cognitive capabilities in RPA for new and existing clients.
Pushing the boundaries of traditional RPA capabilities, Reveal Group’s move to integrate ABBYY’s advanced intelligent capture OCR software into their automations will eliminate one of the most challenging, expensive and time-consuming operational scenarios: manual processing of scanned documents. ABBYY’s best-in-breed intelligent capture software enables sophisticated, automated data extraction that results in faster, higher quality textual output and more robust automations.
“Reveal Group are leveraging ABBYY to enable our clients to stay ahead of the curve with advanced RPA, integrating the latest cognitive technologies for a more intelligent robotic workforce,” said Reveal Group CEO, Ian Crouch. “ABBYY’s unparalleled intelligent capture and OCR capabilities, combined with Reveal Group’s market-leading expertise in delivering RPA and Workforce Management solutions will make a formidable partnership and set a new standard for automating business processes.”
"We are really excited about this partnership, which will leverage ABBYY's best-in-breed Intelligent Capture and heritage in linguistics and machine learning to enhance Reveal Group's Robotic Process Automation (RPA) offerings," ABBYY’s Henry Patishman said. "As adoption of AI gathers pace, it is essential for businesses to drive digital innovation with RPA solutions that boost their capabilities and save money and time."
About Reveal Group
Reveal Group specialises in helping clients to quickly and cost effectively transform their business performance. Since 2005 Reveal Group have been at the forefront of applying technology to transform processing, guaranteeing rapid and sustainable results. Across all service industries, Reveal Group’s tools are helping teams worldwide to maximise productivity and optimise workforces. www.revealgroup.com
About ABBYY
ABBYY is a global leader in intelligent capture driving innovation in the areas of meaningful insights, data, and relationships to improve business outcomes. ABBYY offers a complete range of AI-based technologies that are used and licensed by some of the largest international enterprises: www.abbyy.com/company
Contacts
Reveal Group
Charley McGlinchey
info@revealgroup.com
Source: Reveal Group
View this news release online at:
http://www.businesswire.com/news/home/20180122005711/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=30989
SYDNEY, Jan 23 (Bernama-BUSINESS WIRE) -- In a collaboration set to enhance and push the possibilities of Robotic Process Automation (RPA), Reveal Group, the global leader in operational transformation, today announced its strategic partnership with software vendor, ABBYY. Partnership with the most advanced and comprehensive Optical Character Recognition (OCR) and Intelligent Capture solutions provider in the market will extend Reveal Group’s cognitive capabilities in RPA for new and existing clients.
Pushing the boundaries of traditional RPA capabilities, Reveal Group’s move to integrate ABBYY’s advanced intelligent capture OCR software into their automations will eliminate one of the most challenging, expensive and time-consuming operational scenarios: manual processing of scanned documents. ABBYY’s best-in-breed intelligent capture software enables sophisticated, automated data extraction that results in faster, higher quality textual output and more robust automations.
“Reveal Group are leveraging ABBYY to enable our clients to stay ahead of the curve with advanced RPA, integrating the latest cognitive technologies for a more intelligent robotic workforce,” said Reveal Group CEO, Ian Crouch. “ABBYY’s unparalleled intelligent capture and OCR capabilities, combined with Reveal Group’s market-leading expertise in delivering RPA and Workforce Management solutions will make a formidable partnership and set a new standard for automating business processes.”
"We are really excited about this partnership, which will leverage ABBYY's best-in-breed Intelligent Capture and heritage in linguistics and machine learning to enhance Reveal Group's Robotic Process Automation (RPA) offerings," ABBYY’s Henry Patishman said. "As adoption of AI gathers pace, it is essential for businesses to drive digital innovation with RPA solutions that boost their capabilities and save money and time."
About Reveal Group
Reveal Group specialises in helping clients to quickly and cost effectively transform their business performance. Since 2005 Reveal Group have been at the forefront of applying technology to transform processing, guaranteeing rapid and sustainable results. Across all service industries, Reveal Group’s tools are helping teams worldwide to maximise productivity and optimise workforces. www.revealgroup.com
About ABBYY
ABBYY is a global leader in intelligent capture driving innovation in the areas of meaningful insights, data, and relationships to improve business outcomes. ABBYY offers a complete range of AI-based technologies that are used and licensed by some of the largest international enterprises: www.abbyy.com/company
Contacts
Reveal Group
Charley McGlinchey
info@revealgroup.com
Source: Reveal Group
View this news release online at:
http://www.businesswire.com/news/home/20180122005711/en
--BERNAMA
http://mrem.bernama.com/viewsm.php?idm=30989
NEW US PATENT FOR SOLIDIA TECHNOLOGIES' CO2-CURED CONCRETE ADVANCES PERFORMANCE AND SUSTAINABILITY OF BUILDING MATERIALS
PISCATAWAY, N.J., Jan 22 (Bernama-BUSINESS WIRE) -- The U.S. Patent and Trademark Office issued a patent for the structure of CO2-cured Solidia Concrete™, advancing the performance and sustainability of materials available to the global construction and materials industries. Solidia Technologies® holds the exclusive licensing rights to the patent, which is held by Rutgers University, where the original generation of the material was invented.
U.S. Patent No. 9,868,667, "Bonding Element, Bonding Matrix and Composite Material Having the Bonding Element and Method of Manufacturing Thereof," covers the composition of matter of the non-hydraulic concrete.
U.S. Patent No. 9,868,667, "Bonding Element, Bonding Matrix and Composite Material Having the Bonding Element and Method of Manufacturing Thereof," covers the composition of matter of the non-hydraulic concrete.
Saturday, 20 January 2018
Friday, 19 January 2018
FORWARD INDUSTRIES ACQUIRES INTELLIGENT PRODUCT SOLUTIONS
WEST PALM BEACH, Fla. and HAUPPAUGE, N.Y., Jan 19 (Bernama-GLOBE NEWSWIRE) -- Forward Industries (NASDAQ:FORD) today announced the acquisition of Intelligent Product Solutions (IPS), an industry leading product design and development company based in Long Island, New York for a material consideration comprising of cash, equity, and contingent earn outs.
IPS clients include leading brands in consumer electronics, medical devices, enterprise and security solution providers and Internet of Things connected solutions, including Google, Physio Control, PepsiCo, Motorola, ABInBev, Zebra and Charity Water.
Commenting on the transaction, Terry Wise, CEO of Forward Industries remarked, “I am delighted and excited with the acquisition of IPS. The company is an excellent strategic fit for Forward Industries. Its expertise and strong track record in designing connected/IOT products and developing products such as the AdhereTech 'smart' pill bottle will significantly strengthen and contribute to Forward Industries. As a Group, we are now able to offer a complete design, development, manufacturing and distribution service. We face exciting times ahead.”
According to Mitch Maiman, CEO of IPS, “Forward Industries is an ideal partner for IPS because of its strength in medical products and we will continue delivering exceptional product design and development services. And, IPS will remain committed to our team and to maintaining our offices on Long Island and in Minneapolis.”
For more information on the terms of the transaction, please see the Form 8-K filed with the Securities and Exchange Commission on January 18, 2018.
About Forward Industries
Incorporated in 1962, and headquartered in West Palm Beach, Florida, Forward Industries is a global designer and distributor of custom carry and protective solutions. The company has over a 30 year plus track record of Far Eastern sourcing capability. Forward has subsidiaries in Switzerland and the UK. Forward’s products can be viewed online at www.forwardindustries.com
About IPS
IPS, founded in 2008, is a leading product design and development company that is headquartered in New York, with an office in Minneapolis. IPS offers expert product design and engineering services, including Internet of Things and wearable technology solutions. IPS' fully-integrated capabilities include industrial design, electrical, mechanical and systems engineering, optical engineering, application level software and low-level firmware engineering, user experience/interface design (UX/UI), program management and marketing. Its clients are among the leading brands in consumer electronics, medical devices, enterprise and security solution providers and Internet of Things connected solutions, including Google, Physio Control, Motorola and Charity Water. To learn more about IPS, visit www.intelligentproduct.solutions or contact info@ips-yes.com or @IPSdesigners.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements including statements regarding synergies and opportunities from the acquisition. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to successfully integrate IPS into Forward, changes affecting the business in which IPS operates, and competition from third parties. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
Contact:
Mike Matte on behalf of Terry Wise for Forward Industries Enquiries
(561) 465-0031
mmatte@forwardindustries.com
Lisa Hendrickson/LCH Communications for IPS Enquiries
(516) 767-8390
lisa@lchcommunications.com
Source : Forward Industries, Inc.
--BERNAMA
IPS clients include leading brands in consumer electronics, medical devices, enterprise and security solution providers and Internet of Things connected solutions, including Google, Physio Control, PepsiCo, Motorola, ABInBev, Zebra and Charity Water.
Commenting on the transaction, Terry Wise, CEO of Forward Industries remarked, “I am delighted and excited with the acquisition of IPS. The company is an excellent strategic fit for Forward Industries. Its expertise and strong track record in designing connected/IOT products and developing products such as the AdhereTech 'smart' pill bottle will significantly strengthen and contribute to Forward Industries. As a Group, we are now able to offer a complete design, development, manufacturing and distribution service. We face exciting times ahead.”
According to Mitch Maiman, CEO of IPS, “Forward Industries is an ideal partner for IPS because of its strength in medical products and we will continue delivering exceptional product design and development services. And, IPS will remain committed to our team and to maintaining our offices on Long Island and in Minneapolis.”
For more information on the terms of the transaction, please see the Form 8-K filed with the Securities and Exchange Commission on January 18, 2018.
About Forward Industries
Incorporated in 1962, and headquartered in West Palm Beach, Florida, Forward Industries is a global designer and distributor of custom carry and protective solutions. The company has over a 30 year plus track record of Far Eastern sourcing capability. Forward has subsidiaries in Switzerland and the UK. Forward’s products can be viewed online at www.forwardindustries.com
About IPS
IPS, founded in 2008, is a leading product design and development company that is headquartered in New York, with an office in Minneapolis. IPS offers expert product design and engineering services, including Internet of Things and wearable technology solutions. IPS' fully-integrated capabilities include industrial design, electrical, mechanical and systems engineering, optical engineering, application level software and low-level firmware engineering, user experience/interface design (UX/UI), program management and marketing. Its clients are among the leading brands in consumer electronics, medical devices, enterprise and security solution providers and Internet of Things connected solutions, including Google, Physio Control, Motorola and Charity Water. To learn more about IPS, visit www.intelligentproduct.solutions or contact info@ips-yes.com or @IPSdesigners.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements including statements regarding synergies and opportunities from the acquisition. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to successfully integrate IPS into Forward, changes affecting the business in which IPS operates, and competition from third parties. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
Contact:
Mike Matte on behalf of Terry Wise for Forward Industries Enquiries
(561) 465-0031
mmatte@forwardindustries.com
Lisa Hendrickson/LCH Communications for IPS Enquiries
(516) 767-8390
lisa@lchcommunications.com
Source : Forward Industries, Inc.
--BERNAMA
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