AAR wins Parts Supply contract with Mitsubishi Heavy Industries Aero Engines (MHIAEL), largest commercial deal in Japan to date

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AAR (NYSE: AIR), a leading provider of aviation services to airlines and governments worldwide, signed its largest commercial deal in Japan to date, a multimillion dollar Parts Supply agreement with Mitsubishi Heavy Industries Aero Engines, Ltd. (MHIAEL). AAR will begin work immediately as the parts supplier for MHIAEL’s PW4000 engine maintenance with international commercial airlines.

“MHIAEL is a key player in the Japanese and global aviation market, and this agreement is AAR’s first Parts Supply deal with an engine MRO company in the region — and our largest contract in Japan,” said Sal Marino, AAR SVP of Parts Supply. “AAR is certified compliant with Japanese regulations, and we have the global capabilities and facilities to serve Japan-based customers wherever they do business. We’re very excited for what’s to come with this partnership and our plans in the Japanese market.”

AAR will supply parts for MHIAEL’s demand of PW4000 94-inch fan engines used in thousands of commercial aircraft and will also have the capability to provide solutions from original equipment manufacturers (OEMs), including Unison and Eaton, for engine technological platforms.

Out of a strong field of vendors competing for the service contract, AAR was chosen by MHIAEL as their preferred parts supplier in this large-scale partnership to serve their international customers.

This announcement follows AAR’s recent completion of its certification from the Japanese Civil Aviation Bureau (JCAB) allowing the company to also serve Japan-based airlines.

ABB partners with Huawei for industrial cloud in China

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ABB will be offering ABB Ability™ digital solutions to its Chinese customers via the Huawei Cloud infrastructure. This was announced at Huawei Connect 2019 in Shanghai, China, the annual flagship event of Huawei for the information and communications technology (ICT) industry, where ABB also showcased several ABB Ability™ solutions based on the Huawei Cloud.

For Chinese customers, ABB combines its leading industrial solutions and domain know-how with Huawei’s strong capability in cloud infrastructure and platform services. The two companies will collaborate and co-innovate, leveraging technologies of cloud, artificial intelligence, internet of things and industrial expertise to unlock the potential of the digital transformation of industries and ultimately benefit Chinese customers.

After a thorough analysis of different options in China, ABB chose Huawei Cloud due to its technology expertise, strong enterprise customer base within the public sector and its high compliance and cybersecurity standards. Huawei Cloud provides our customers in China with additional deployment options for particular ABB Ability™ solutions.

Apart from the cloud, ABB is also collaborating with Huawei on artificial intelligence (AI). During the customer event, an ABB manufactured robot using vision and AI deep learning (based on a Huawei AI Accelerator Module) demonstrated waste separation.

“This collaboration enables us to further grow ABB’s industrial digital solutions in the Chinese market, which represents our second largest customer base”, said Guido Jouret, Chief Digital Officer of ABB. “ABB is addressing the demand for digital transformation happening in all our customers’ segments, and increasing convenience for its customers in China.”

In November 2018, ABB opened a major innovation and manufacturing hub in Xiamen, China, representing a US$300 million investment. In October 2018, the company announced a US$150 million investment in a new robotics “factory of the future” in Shanghai and in May 2018, it inaugurated a new Robotics Application Center in Chongqing, the company’s fourth such site in China. ABB has invested more than US$2.4 billion in China since 1992.

Aerojet Rocketdyne selected for Northrop Grumman’s nationwide GBSD team

Aerojet Rocketdyne has been selected by Northrop Grumman to be an integral part of its nationwide Ground Based Strategic Deterrent (GBSD) team. Northrop Grumman is competing for the Engineering, Manufacturing and Development (EMD) phase of the GBSD program.

“Aerojet Rocketdyne is proud to be part of Northrop Grumman’s nationwide GBSD team and excited for the opportunity to provide a large solid rocket motor system and a post-boost propulsion system for this vital defense program,” said Aerojet Rocketdyne CEO and President Eileen Drake.

Aerojet Rocketdyne propulsion has powered every U.S. Intercontinental Ballistic Missile (ICBM) ever flown or fielded. Aerojet Rocketdyne has invested to provide advanced and affordable propulsion solutions for GBSD and other future national security requirements.

“Over the past three years Aerojet Rocketdyne has refined processes and built state-of-the-art facilities to mature our technology and increase affordability for the propulsion systems we will provide for the GBSD program,” said Drake.

Aerojet Rocketdyne’s new Advanced Manufacturing Facility in Huntsville, Alabama, and its nearly completed Engineering, Manufacturing & Development Facility in Camden, Arkansas, are designed to provide large solid rocket motors for GBSD and other programs more quickly and at less cost. The company has also invested in precision post-boost propulsion technology at its Canoga Park, California, facility.

Aerojet Rocketdyne’s role on Northrop Grumman’s nationwide GBSD team builds on prior work supporting Northrop Grumman on strategic systems. Aerojet Rocketdyne has supported Northrop Grumman as the prime contractor responsible for sustaining Minuteman III. As the Original Equipment Manufacturer for the post-boost propulsion system, Aerojet Rocketdyne completed a service life extension under Northrop Grumman in 2014 and continues to provide engineering support for that system to the U.S. Air Force today.

AMG reaches agreement to sell equity interests in BlueMountain

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Affiliated Managers Group, Inc. (NYSE: AMG) announced that it has entered into an agreement with a subsidiary of Assured Guaranty Ltd. (NYSE: AGO) and BlueMountain Capital Management, LLC, under which AGO will purchase 100% of the outstanding equity interests in BlueMountain and its associated entities. AMG will receive $91 million in cash at closing, subject to certain limited adjustments. As part of the transaction, AGO will contribute cash to BlueMountain to fund its working capital needs and the repositioning of the firm. The transaction is expected to close by year-end 2019, subject to the satisfaction of customary closing conditions, and will be immediately accretive to AMG’s earnings.

Jay C. Horgen, President and Chief Executive Officer of AMG, said:

“We are pleased to have had a good partnership with BlueMountain over many years, and also that we worked closely with our long-term partners at BlueMountain to achieve an outcome that is in the best interests of BlueMountain’s clients and employees and AMG’s shareholders. AMG’s strategy remains consistent: to generate long-term value by investing in leading independent active investment managers, through a proven partnership approach, and allocating resources across AMG’s unique opportunity set to the areas of highest growth and return. We offer unique access to boutique investment capabilities at scale, while preserving and enhancing the elements critical to individual Affiliate success – including alignment of interests, investment independence, and operational autonomy. As BlueMountain becomes part of a larger consolidated organization, we wish Andrew Feldstein and his management partners the best going forward.”

ASE Technology Holding named 2019 industry leader in the Dow Jones Sustainability Indices

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ASE Technology Holding Co., Ltd. (TAIEX: 3711, NYSE: ASX), the leading provider of semiconductor packaging, test and system assembly services, announced that it has been included in the 2019 Dow Jones Sustainability Indices (DJSI) World and Emerging Market segments. This will also be the fourth year in a row that the company has been selected as the Industry leader in the Semiconductors and Semiconductor Equipment Industry Group and also listed as a member of the DJSI World and DJSI Emerging Markets. The consecutive years of DJSI achievement, as well as international recognition on the FTSE4Good Emerging Index and Thomson Reuters Tech100 leader board, have once again demonstrated the company’s resounding commitment and dedication to corporate sustainability.

In this year’s DJSI list, there were 47 companies assessed in the Semiconductors and Semiconductor Equipment Industry Group, and 6 of the companies including ASE made the cut on the 2019 DJSI World list. ASE was not only ranked the leader within this group, but also received outstanding scores in 21 assessment categories including the highest scores in customer relationship management, supply chain management, environmental reporting, product stewardship and 9 other categories.

“As the global leader in semiconductor assembly, testing and systems integration, ASE understands the expectations from our stakeholders to conduct our business in a sustainable manner. An important step that we have taken recently is to align our long term sustainability plans in full support of the United Nations Sustainable Development Goals (UN SDGs). It is very encouraging to see that our performance has enabled us to gain recognition on the DJSI annual list, the gold standard of sustainability rankings, for the fourth year running,” said Jason Chang, Chairman, ASE Technology Holding. “We remain committed to transforming our business into a sustainable enterprise that will drive industry innovation and benefit society, the economy and the environment.”

Eneco and ArcelorMittal unveil Belgium’s largest solar roof

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The installation of more than 27,000 solar panels on the roof of ArcelorMittal in Ghent has been completed, resulting in the largest solar roof in Belgium. Installed by Eneco, this is their largest project to date. The project will help ArcelorMittal Belgium in becoming more sustainable as the power generated will be used internally by ArcelorMittal in Ghent. More than 5,000 employees are also given the opportunity to co-invest in the solar panels and benefit from the revenues.

Eneco -the largest solar energy producer in Belgium- has installed a 7.5 million euros solar roof at ArcelorMittal in Ghent. The park consists of 27,104 solar panels for which 157.2 tons of steel was used. The total weight of the installation amounts to 1.5 million kilos. This means that ArcelorMittal now owns the fourth largest solar park in Belgium and the largest solar roof in Belgium.

Rohde & Schwarz and MESIT jointly invest in secure communications solutions and form DICOM

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Rohde & Schwarz and MESIT have established a new joint venture (JV) with MESIT as the majority shareholder. The strategic purpose is to further enhance the trusted, interoperable SOVERON communications system. SOVERON stands for fully integrated, high-performance and scalable trusted communications solutions for all branches of the armed forces. SOVERON strengthens customers digital sovereignty and gives them the greatest possible independence from manufacturers.

 

The JV is named DICOM, s.r.o. and has commercial operations in Uherské Hradiště in the Czech Republic. DICOM will perform advanced research and development (R&D). It will initially focus on the new SOVERON lightweight handheld software defined radio (SDR) with networking and multiband capability in the UHF/VHF frequency range.

 

“We are delighted with this joint investment. The creation of DICOM allows both partner companies to accelerate the development and production of the SOVERON product portfolio. With this JV, the Czech Republic becomes the fourth country in which Rohde & Schwarz is represented in sales, service (Prague), manufacturing (Vimperk) and R&D (Uherské Hradiště),” explains Pavel Šalanda, Managing Director at DICOM.

 

“MESIT and Rohde & Schwarz have already successfully co-operated in the past. Now we are taking the next logical step by joining forces in R&D to take full advantage of our joint capacities. Together we will be able to successfully address new markets,” adds Igor Gerek, Managing Director at DICOM and Deputy Charmain of the Board at MESIT.

 

“Many defense forces around the world use cutting-edge solutions from Rohde & Schwarz. We are looking forward to expanding our presence in the Czech Republic. This new JV will create new technological advances, allowing us to provide digital sovereignty to our customers,” concludes Bosco Novak, Executive Vice President Secure Communications Division at Rohde & Schwarz.

Kohl’s announces Paul Gaffney as Senior Executive Vice President, Chief Technology Officer

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Kohl’s (NYSE: KSS) has announced Paul Gaffney as Senior Executive Vice President, Chief Technology Officer, reporting directly to Kohl’s CEO Michelle Gass. Gaffney assumes his new position in mid-September.

“I’m excited to welcome Paul Gaffney to the Kohl’s team. His extensive experience leading transformational technology teams and impressive track record of results will be a tremendous asset to Kohl’s,” said Gass. “He joins our strong technology team, ready to continue our path forward in driving innovation and change across all aspects of our business. Paul is an excellent addition to our senior leadership team.”

“Kohl’s is doing incredible things as an omnichannel retailer during a very exciting time for the company,” said Paul Gaffney. “Retail is a very dynamic industry and, through several new innovations and smart investments back into the business, Kohl’s has established itself as one to watch. I look forward to the opportunity to help contribute to their ongoing success.”

In the chief technology officer role, Gaffney will be responsible for all technology, information and digital platforms supporting Kohl’s omnichannel business. He most recently served as chief technology officer of Dick’s Sporting Goods. Prior to that, Gaffney was senior vice president of information technology at The Home Depot, responsible for the organization’s software engineering, user-centered design and applications. He has served in a variety of other senior leadership roles throughout his career. He holds a bachelor’s degree in Computer Science from Harvard and is a Henry Crown Fellow at the Aspen Institute.