Day: February 6, 2023

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Bombardier CEO Éric Martel Evolves Leadership Team Structure as Part of Forward-Looking Growth Strategy, Building on Company Momentum

  • Jean-Christophe Gallagher appointed Executive Vice President, Aircraft Sales and Bombardier Defense
  • Paul Sislian appointed Executive Vice President of Bombardier Aftermarket Services & Strategy
  • David Murray appointed Executive Vice President, Manufacturing, IT and Bombardier Operational Excellence System
  • Eric Filion joins Bombardier to the newly created role of Executive Vice President, Programs and Supply Chain
  • Michel Ouellette will lead Engineering and Product Development until planned retirement later in 2023, following a 33-year, successful career

MONTREAL, Feb. 06, 2023 (GLOBE NEWSWIRE) — Bombardier today announced a leadership team evolution that will focus on carrying forward the company’s positive momentum toward executing long-term growth and optimization strategies in the key areas of defense, services, continuous product improvement and next-generation manufacturing practices.

“Bombardier has successfully embarked on its journey as a company focused on its world-class business jet portfolio. As we continue to meet or exceed targets, it is the right time to thoughtfully reshape key leadership functions to ensure the solid foundation we have set fully carries our momentum well into the future,” said Éric Martel, President and CEO, Bombardier. “Our leadership team members are talented and have delivered on commitments time and again these past years, and this new alignment will further build upon the foundations they have successfully set for Bombardier.”

As part the leadership structure evolution, the following alignments and appointments will take effect on February 20, and all other existing Bombardier leadership team members will continue in their roles:

Jean-Christophe Gallagher is appointed Executive Vice President, Aircraft Sales & Bombardier Defense. Gallagher will lead all aspects of Bombardier’s growing defense business as its product offering and customer base expand. Gallagher will also oversee the talented Sales team led by Peter Likoray, Senior Vice President, New Aircraft Sales. Under Peter’s leadership, Bombardier has grown its backlog and built local roots across the world. Peter will continue to deepen his and his team’s passion for crafting unique experiences for Bombardier customers as they match their discerning needs to the company’s exceptional portfolio.

Paul Sislian is appointed Executive Vice President, Bombardier Aftermarket Services & Strategy. Having spent 15 years optimizing and leading Bombardier’s business jet manufacturing facilities and processes, Sislian will now carry forward and accelerate the division’s strategic growth journey that saw Bombardier inaugurate four newly built or expanded maintenance facilities around the world in 2022.

All aerostructures, assembly and completions activities will be led by David Murray, who will add these responsibilities to his current mandates and is appointed to the role of Executive Vice President, Manufacturing, IT and Bombardier Operational Excellence System (BOE). The alignment of these three functions will enable a new focus on availing teams of next-generation digital technologies to further enhance Bombardier core processes.

Éric Filion is appointed to the new role of Executive Vice President, Programs and Supply Chain. In this capacity, Filion will oversee all Bombardier supplier relationships and lead continuous, competitive improvement efforts for all in-production Bombardier aircraft. Filion previously held operations and program leadership positions at Bombardier, including oversight of the Challenger aircraft production facility. Most recently he served as Executive Vice President, Chief Operating and Customer Experience Officer for Hydro-Québec. Filion will join Bombardier on February 20, 2023.

Finally, Michel Ouellette will lead Engineering and Product Development as the group’s Executive Vice President. After a 33-year career at Bombardier that culminated in the successful certification of the Global 7500 jet and subsequent launch of the performance-leading Global 8000 flagship aircraft, Ouellette is set to retire at the end of June 2023.

“Michel’s contributions to Bombardier can certainly be enumerated at great length, and their positive and lasting impact on our people, our products and our company is simply immeasurable,” said Martel. “On behalf of everyone at Bombardier whose lives Michel has touched, I want to sincerely thank him for his leadership and passion—and wish him all the best in his next chapter. I also look forward to continuing collaborating in the months ahead, as we press forward with exciting projects.”

About Bombardier
Bombardier (BBD-B.TO) is a global leader in aviation, focused on designing, manufacturing, and servicing the world’s most exceptional business jets. Bombardier’s Challenger and Global aircraft families are renowned for their cutting-edge innovation, cabin design, performance, and reliability. Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments, and private individuals. Bombardier aircraft are also trusted around the world in government and military special-mission roles leveraging Bombardier Defense’s proven expertise.

Headquartered in Greater Montréal, Québec, Bombardier operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. The company’s robust customer support network services the Learjet, Challenger and Global families of aircraft, and includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, the UAE, Singapore, China and Australia.

For corporate news and information, including Bombardier’s Environmental, Social and Governance report, as well as the company’s plans to cover all its flight operations with Sustainable Aviation Fuel (SAF) utilizing the Book and Claim system visit bombardier.com. Learn more about Bombardier’s industry-leading products and customer service network at businessaircraft.bombardier.com. Follow us on Twitter @Bombardier.

Bombardier, Global, Global 7500, Global 8000 and Challenger are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

For Information
Mark Masluch
Bombardier
+1-514-855-7167

GlobeNewswire Distribution ID 8743397

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Nikkiso Clean Energy & Industrial Gases Group Completes the Acquisition of Cryotec Anlagenbau GmbH, Wurzen, Germany

Cryotec Anlagenbau GmbH Wurzen Germany

Cryotec Anlagenbau GmbH Wurzen Germany

TEMECULA, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) — Nikkiso Clean Energy and Industrial Gases Group (“Group”), a part of Nikkiso Co., Ltd (Japan), and operating under Cryogenic Industries, Inc. (USA), completed the acquisition of Cryotec Anlagenbau GmbH (Cryotec), located in Wurzen, Saxony, Germany for an undisclosed amount.

A global plant engineering and construction company, Cryotec provides planning, project management, manufacturing, and engineering services of skid-mounted/containerized air separation and liquefaction plants, and CO2 technologies offering tailored solutions to their customers.

Cryotec will operate as part of the Group’s GmbH facility, based in Neuenburg am Rhine, Germany.

The Group consists of six functional business units: Cryogenic Pumps, Heat Exchanger Systems, Process Systems, Fueling & Solutions, Energy Infrastructure & Strategic Projects, and Service. Cryotec will be acting as the Nikkiso Clean Energy and Industrial Gases Group competence and production center in Europe.

“Nikkiso will promote and sell globally the intelligent packaged solutions from Cryotec that reduce and recover carbon dioxide emissions, and further support the sustainability goals of the Group. Cryotec will have full access to the innovative technologies developed in California and elsewhere in the Nikkiso Group and offer localized packages, solutions, and stations for LH2 (Liquid Hydrogen) LNG (Liquefied Natural Gas), ammonia, and cryogenic energy storage applications within Germany and Europe. We will support the growth of Cryotec, by adding resources and increasing our manufacturing and assembly activities in Saxony and supplying Cryotec solutions to Germany and the global market”, according to Peter Wagner, CEO of Cryogenic Industries and President of the Group.

Prime Minister of Saxony, Michael Kretschmer stated: “The acquisition of Cryotec Anlagenbau by Nikkiso strengthens the internationalization of a traditional Saxon company from Wurzen. Nikkiso has global experience in renewable energy, hydrogen, and energy storage. Renewable energies and green hydrogen play a key role in achieving the energy and climate targets in Saxony. The Free State of Saxony is already an important location for the research and application of hydrogen technologies. I am delighted that Nikkiso will contribute its expertise to Saxony in the future.”

“Nikkiso will be able to assist with this project realization as well as the supply and servicing of liquid hydrogen and LNG filling stations in the European Market”, according to Ole Jensen, Vice President, Europe. “This acquisition represents our commitment to and support the European Union targets to be climate-neutral by 2050.”

The purchase was effective February 3, 2023.

ABOUT Nikkiso Clean Energy & Industrial Gases Group
Nikkiso Clean Energy & Industrial Gases Group is part of the Industrial Division of Nikkiso co. Lt. Japan. The Group operates in the US, under Cryogenic Industries, Inc. (a member of Nikkiso Co., Ltd.). The Group member companies manufacture, and service engineered cryogenic gas processing equipment (pumps, turboexpanders, heat exchangers, etc.), and process plants for Industrial Gases, Natural Gas Liquefaction (LNG), Hydrogen Liquefaction (LH2) and Organic Rankine Cycle for Waste Heat Recovery. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne and Cryoquip and a commonly controlled group of approximately 20 operating entities.

For more information, please visit www.NikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:
Anna Quigley
+1.951.383.3314
aquigley@cryoind.com

Cryotec_Totale_119192_RGB - cropped - resized (1)

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5818ee3c-2c93-4ad0-b03b-a87bda21cfce

GlobeNewswire Distribution ID 8743139

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Transmission of Quarterly Report for the Period Ended December 31, 2022 of Unicap Modaraba

Karachi, Unicap Modaraba informed Pakistan Stock Exchange that Quarterly Report of the Company for the period ended December 31, 2022 have been transmitted through PUCARS and is also available on Company’s website.

Unicap Modaraba is a multipurpose, perpetual Modaraba floated in Pakistan in the year 1991. Al-Zamin Modaraba Management (Private) Limited transferred the management of Modaraba to Map Out Modaraba Company (Private) Limited.

The total number of share are 23,640,000. The Earnings per share is (0.14) in 2020 which was (0.01) in 2019. The Company had a loss of Rs. 3,271,000 in 2020 which was 305,000 in 2019.

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Transmission of Quarterly Report for the Period Ended December 31, 2022 of Dewan Sugar Mills Limited

Karachi, Dewan Sugar Mills Limited informed Pakistan Stock Exchange that Quarterly Report of the Company for the period ended December 31, 2022 have been transmitted through PUCARS and is also available on Company’s website.

Dewan Sugar Mills Limited (the Company) was incorporated in Pakistan, as a public Limited company on June 27, 1982. The Principal activity of the Company is production and sale of white crystalline refined sugar, processing and trading of by-products, and other related activities and allied products. The Company also have the delivery and Packaging options that are Bulk Vessel, ISO Tank and FCLs. The production of the company is recorded as 125,000 litres per day and 33,000 metric ton annually.

The total number of shares of the company are 91,511,992. The Company’s Earnings per shares is (9.69) in 2020 which was (5.98) in 2019. The Company had a loss of 886,326,000 in 2020 which was 546,914,000 in 2019.

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Material Information of S.G. Power Limited

Karachi, S.G. Power Limited informed Pakistan Stock Exchange that a new website for the company is being launched i.e https://sgabl.com.pk/.

SG Power Limited has been an electricity generating unit to supply the electricity to its associated company SG Fibre Limited.

The symbol “SGPL” is being used by the stock exchange for the shares of SG Power Limited.

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Material Information of SG Allied Businesses Limited

Karachi, SG Allied Businesses Limited informed Pakistan Stock Exchange that a new website for the company is being launched i.e https://sgabl.com.pk/.

SG Allied Businesses Limited (Formerly S.G. Fibre Ltd) emerged as a Private Limited Company on December 11, 1968, with the name of SG Rayon Mills that later converted into a Public Limited Company on March 16, 1994 and renamed as SG Fibre Limited on November 3, 1994.

SG Allied Businesses Limited (Formerly S.G. Fibre Ltd) was listed on the Karachi Stock Exchange on March 28, 1996 and just after a year of its enlistment the Company’s share became highest among the category of Filament Yarn Manufacturers on the Exchange.

SG Allied Businesses Limited (Formerly S.G. Fibre Ltd) has been one of the most modern and technologically advance Polyester Filament Yarn Manufacturer in Pakistan. Our Mill was equipped with the World’s Leading Machineries which is coupled with the highest competence of Technological Support and that is what used in the Production of our Specialty Yarn.

The Quality of our products remained widely recognized among the work of other Filament Yarn Manufacturers and it catered a sphere of Clients around the world.

We were the first company to start High Quality Polyester Fabric Jet Dyeing in Pakistan in 1977-1978 and it was the sole business of the company up to the year 1982. In the same year Our Polyester Yarn Manufacturing Unit started the Production of Pre-Oriented Yarn (POY) for the First time in Pakistan.

Lately, due to adverse economic conditions the Filament Yarn industry faced difficulties so as to remain a viable venture. Recently, the Company has diversified its business activities towards more lucrative options such as agriculture based products and cold storage; aligning to this diversification, the Company has been restyled as “SG Allied Businesses Limited”.

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Transaction of 84,472 shares of Interloop Limited

Karachi, Interloop Limited informed Pakistan Stock Exchange about transaction of shares of the company. 2,783 shares @ Rs. 52.30 per share were sold in the market on February 02, 2023 and 81,689 shares @ Rs. 52.00 per share were sold in the market on February 03, 2023 through CDC.

Interloop Limited was incorporated in Pakistan on 25th April, 1992 as a private limited company. On 18th July 2008, the Company was converted into public limited company and subsequently, on 5th April 2019, it was publicly listed on Pakistan Stock Exchange. The Company is engaged in the business of manufacturing and sale of socks, leggie, denim and yarn, and generating electricity for its own use.

The total numbers of shares 872,197,450. The Earnings per share is 2.06 in 2020 which was 6.67 in 2019. The Profit after Taxation is 1,796,403,000 in 2020 which was 5,194,767,000 in 2019.

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Appointment of Chairman and Chief Executive Officer of Kohat Textile Mills Limited

Karachi, Kohat Textile Mills Limited informed Pakistan Stock Exchange that Mr. Osman Saifullah Khan has re-appointed as Chairman of the Board and Mr. Assad Saifullah Khan as Chief Executive Officer of the company for a term of three years commencing February 04, 2023.

Kohat Textile Mills Limited is a public limited Company incorporated in Pakistan during the year 1967. The Company is principally engaged in manufacture and sale of yarn. With an installed capacity of 35,280 spindles, KTM manufactures and markets cotton yarn, combed cotton, carded cotton and synthetic yarn.

The total number of shares are 20,800,000. The Earnings per share is (3.14) in 2020 which was 3.22 in 2019. The Profit After Taxation in 2020 is (65,228,000) which was 66,965,000 in 2019.

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Transaction of 2,053,200 shares of National Foods Limited

Karachi, National Foods Limited informed Pakistan Stock Exchange about transaction of shares of the company. 2,053,200 shares @ Rs. 100.01 per share were sold in the market on January 31, 2023 through CDC.

National Foods Limited was incorporated in Pakistan on 19 February 1970 as a private limited company and subsequently converted into a public limited company. The parent entity of the Company is Associated Textile Consultants (Private) Limited. The Company is principally engaged in the manufacture and sale of convenience based food products.

The total number of shares are 186,492,343. The Earnings per shares of the Company is 7.40 in 2020 which was 7.31 in 2019. The Profit after Taxation is 1,104,502,000 in 2020 which was 1,090,862,000 in 2019.

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Resignation of Director of JS Global Capital Limited

Karachi, JS Global Capital Limited informed Pakistan Stock Exchange that Ms. Zubina Asad Sadick has resigned from the Board of Directors of the company with effect from February 03, 2023.

The Company was incorporated as a private limited company. However, the Company commenced its operations in May 2003 and name of the Company was changed from JSCL Direct (Private) Limited to Jahangir Siddiqui Capital Markets Private Limited. Subsequently, the Company was converted into a public unquoted company and the holding company Jahangir Siddiqui and Company Limited (JSCL) offered its 25% shareholding to the general public for subscription in December 2004.

The Company operates through eight branches: Two in Karachi, while one each in Lahore, Islamabad, Hyderabad, Rawalpindi, Multan, Peshawar and Faisalabad besides head (registered) office based in Karachi. The registered office of the Company is situated at The Center, 17th & 18th Floor, Plot No. 28, S.B.5, Abdullah Haroon Road, Karachi.

The total number of shares are 27,477,297. The Earnings per share is 6.77 in 2020 which was 1.31 in 2019. The Profit after Taxation of the Company is 206,954,000 in 2020 which was 47,248,000 in 2019.

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Material Information of Oilboy Energy Limited

Karachi, Oilboy Energy Limited informed Pakistan Stock Exchange that the Company has obtained a Petrol Pump on lease situated at Lahore Sheikhupura Road for a period of Fifteen Years in line with the Memorandum of Association of the Company.

Drekkar Kingsway Limited was registered on June 28, 1993 as Private Limited Company and was subsequently converted into Public Limited Company as on June 29, 1994. The principal activity of the company was manufacturing of all type of electrical appliances, cosmetics, toiletries, leather goods, machinery, components and parts.

In 1996, the company sold its plant and machinery. The company is currently engaged in making equity investments in undervalued profitable situations.

The total numbers of shares are 10,000,000. The (0.68) in 2020 which was (0.07) in 2019. The Company had a loss of Rs. 6,809,000 in 2020 which was 716,000 in 2019.

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Appointment of Chairman of Service Industries Textiles Limited

Karachi, Service Industries Textiles Limited informed Pakistan Stock Exchange that MR. Aamer Hameed has been appointed as Chairman of the company with effect from February 01, 2023 in place of Mr. Ijaz Hameed.

Service Industries Textiles Limited was incorporated in Pakistan in 1962 as a Private Limited Company and was subsequently converted into a Public Limited Company in 1970. The principal activity of the Company is manufacturing and sale of yarn made from raw cotton and synthetic fiber.

The total numbers of shares are 13,787,567. The Earnings per share is (5.63) in 2020 which was 8.34 in 2019. The Profit after Taxation is (25,042,000) in 2020 which was 37,114,000 in 2019.