Pacific Special Acquisition Corp.’s Merger Partner, Borqs International Holding Corp, Announces Strategic Investment from Qualcomm Ventures

NEW YORK and SHANGHAI, March 13, 2017 /PRNewswire/ — Borqs International Holding Corp („Borqs”), which on December 27, 2016 entered into a definitive merger agreement with Pacific Special Acquisition Corp. („Pacific”, NASDAQ: PAACU, PAAC, PAACR and PAACW), today announced that, as part of a preferred stock financing, it has closed an investment in Borqs led by Qualcomm Ventures, the investment arm of Qualcomm Incorporated. Borqs is a leading global provider of smart connected devices and cloud service solutions for the Internet of Things („IoT”) industry.

Borqs is a leading IoT products and solutions provider, with major R&D centers in Bangalore and Beijing. Borqs was founded in 2007 by veterans in the communication technologies industry from Canada, China, India and the United States. Borqs’ investors include Intel Capital, Norwest Venture Partners, SK Telecom China Fund, Keytone Ventures and GSR Ventures. After the Qualcomm Ventures investment, Borqs has a shareholder base that includes two of the largest chip manufacturers in the world.

„Qualcomm Ventures is already an active investor in several Indian startups. Our investments in India help fuel innovation and foster promising startups, such as Borqs, that are contributing to the mobile and Internet of Things ecosystem. This investment will fund additional engineering capabilities to invigorate advances in the development of autonomous products and a connected society. Qualcomm hopes to find future opportunities to work with Borqs to share leading-edge and innovative 4G phone design expertise with Indian and global OEMs in support of Prime Minister Narendra Modi’s vision of Design in India,” said Karthee Madasamy, Vice President and Managing Director, Qualcomm Ventures India.

Pat Chan, founder, Chairman and CEO of Borqs, said: „We are honored to have a strategic investment from Qualcomm Ventures. The India market is growing rapidly and represents a sizable revenue opportunity for Borqs’ business. We are committed to working on developing new technologies for the global market.” Hareesh Ramanna, General Manager of Connected Solutions and Managing Director of Borqs India, further commented: „Borqs has a strong R&D team in India and we have been working closely with Qualcomm in the past several years to develop products being used worldwide. Given our focus on innovation, Borqs is committed to supporting the Indian Government’s Made-In-India initiative and Qualcomm’s Designed-In-India initiative.”

Yaqi Feng, Chief Operating Officer of Pacific, remarked, „We are excited by this development at Borqs, and we expect that, as a leading IoT products and solutions provider, Borqs’ business will grow quickly in India and China, as well as in the U.S. markets. With investors such as Qualcomm Ventures and Intel Capital, we believe Borqs is well-positioned to achieve rapid growth and provide its investors with strong returns.”

Upon the closing under the merger agreement, Borqs will become the operating entity of the combined Pacific-Borqs company. It is anticipated that the shareholders of Borqs will collectively own approximately 78% of the combined company’s outstanding ordinary shares, and Pacific’s existing shareholders will retain an ownership interest of approximately 22%. It is expected that after the closing, the combined company will change its name to „Borqs Technologies, Inc.”

About Pacific

Pacific is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities. Pacific’s efforts to identify a target business have not been limited to a particular industry or geographic region, although it intends to focus efforts on seeking a business combination with a company or companies that have their primary operations located in Asia, with an emphasis on China. Pacific is sponsored by Zhengqi International Holding Limited, a subsidiary of Pacific Securities Co. Ltd., a publicly traded company in China (Ticker 601099.SS). LH Group Holdings Inc., the largest shareholder of Pacific Securities Co. Ltd., invests in financial services, clean energy as well as golf course and resort businesses globally and currently has billions of U.S. dollars in assets.

About Borqs

Borqs is recognized as a global leader in smart connected devices and IoT solutions. Deloitte named Borqs as one of the fastest growing technology companies in China & Asia Pacific in 2011, 2012 and 2013. In 2013, 2014 and 2015, Borqs was named Company of the Year for Innovation & Leadership in Mobile Technology for Asia Pacific from the International Alternative Investment Review. Recently Borqs received the „50 Most Promising IoT Solution Providers 2016” recognition from CIO Review magazine.

Borqs has a proven track record in design, development and commercial shipments of various Android devices and is a Google GMS licensed partner. Qualcomm Technologies, Inc. has chosen to work with Borqs for its Android based platforms. Borqs is one of the companies that Qualcomm Technologies is working with in the wearables segment and is pursuing multiple smartwatches and connected kid watches based on Qualcomm® Snapdragon™ Wear*. Additionally, Borqs launched the FDD/TDD combined carrier aggregation high speed 4G Android phone for Reliance Jio in India.

Borqs’ broad customer base and target markets include OEMs such as Vizio and Fossil, operators like AT&T and Sprint in the U.S. and Reliance Jio in India, and IoT solution providers to restaurants and the utility, public safety and hospitality categories.

Borqs believes that its modular platform architecture and its ability to tailor Android for various vertical applications and form factors, together with its flexible BorqsWare platform, are keys to its success. Borqs has a pipeline of products ranging from tablets, phones, smartwatches, smart appliances, POS terminals and digital signage to in-vehicle infotainment (IVI), for various well known international brands.

Additional Information

The proposed merger between Borqs and Pacific will be submitted to the shareholders of Pacific for their approval. In connection with that approval, Pacific filed with the Securities and Exchange Commission (the „SEC”) a preliminary proxy statement on February 13, 2017 containing information about the proposed merger and the respective businesses of Borqs and Pacific. After the SEC completes its review of the preliminary proxy statement, Pacific intends to file with the SEC a definitive proxy statement in connection with the proposed merger and other matters and will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date to be established for voting on the proposed merger.

Shareholders of Pacific and other interested persons are advised to read the preliminary proxy statement filed with the SEC and, once available, any amendments thereto and the definitive proxy statement, in connection with Pacific’s solicitation of proxies, because these documents will contain important information. Such persons can also read Pacific’s annual report on Form 10-K for the fiscal year ended June 30, 2016 for a description of the security holdings of Pacific’s officers and directors and their respective interests as security holders in the successful consummation of the proposed merger, and other information. Pacific’s definitive proxy statement will be delivered to shareholders of Pacific as of a record date to be established for voting on the proposed merger and other matters as set forth in the definitive proxy statement. Shareholders will also be able to obtain a free copy of the proxy statement, as well as other filings containing information about Pacific, without charge, at the SEC’s website (www.sec.gov) or by calling 1-800-SEC-0330. Copies of the proxy statement and other filings with the SEC can also be obtained, without charge, by directing a request to Pacific at 855 Pudong South Road, the World Plaza, 27th Floor, Pudong, Shanghai, China, 200120.

Participants in the Solicitation

Pacific and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from Pacific’s shareholders in respect of the proposed merger. Information regarding Pacific’s directors and executive officers is available in its annual report on Form 10-K for the fiscal year ended June 30, 2016 and in Pacific’s preliminary proxy statement filed with the SEC on February 13, 2017. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be contained in the definitive proxy statement relating to the transaction with Borqs when it becomes available and which can be obtained free of charge from the sources indicated above.

Disclaimer

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Pacific or Borqs, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Forward-Looking Statements

This press release includes „forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as „expects”, „believes”, „anticipates”, „intends”, „estimates”, „seeks”, „may”, „might”, „plan”, „possible”, „should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect both Borqs’ and Pacific’s managements’ current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Such factors include, among other things: the possibility that the merger will not close or that the closing may be delayed because conditions to the closing may not be satisfied, including shareholder and other approvals; the performances of Pacific and Borqs; the ability of the combined company to meet the NASDAQ Capital Market’s listing standards; the reaction of Borqs customers to the merger; unexpected costs, liabilities or delays in the transaction; the outcome of any legal proceedings related to the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; and general economic conditions. In addition, please refer to the Risk Factors section of Pacific’s Proxy Statement and its Forms 10-K and 10-Q for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, Pacific disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

* Qualcomm and Snapdragon are trademarks of Qualcomm Incorporated, registered in the United States and other countries. Snapdragon Wear is a trademark of Qualcomm Incorporated.

SOURCE Pacific Special Acquisition Corp.

Vivint Solar Extends Aggregation Credit Facility

LEHI, Utah, March 13, 2017 /PRNewswire/ — Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, today announced that it has extended the term of the availability period for borrowing under its aggregation credit facility by an additional three years to March 2020 and the final maturity of the facility to September 2020. Originally entered into in September 2014, this revolving credit facility has provided debt capital to Vivint Solar for new residential solar customers and projects until the company has aggregated the contractual cash flows from those systems into pools that support long term debt facilities, such as the $313 million syndicated bank term loan facility announced in August 2016 and the $203 million institutional term loan facility announced in January 2017.

The aggregation facility includes the ability to hedge interest rate risk as the company borrows against new solar systems and borrow up to an aggregate of $375 million on a revolving basis. Bank of America Merrill Lynch serves as structuring and administrative agent, ING as documentation agent and Deutsche Bank as swap coordinator under the credit facility. 

„We are pleased to be able to extend this critical borrowing facility that enhances our capital availability and security with the support of Bank of America Merrill Lynch and the rest of the lender group,” said Thomas Plagemann, chief commercial officer and head of capital markets at Vivint Solar. „Our strengthened financial position provides greater financing flexibility to meet our strategic growth objectives.”

About Vivint Solar

Vivint Solar is a leading full-service residential solar provider in the United States. With Vivint Solar, customers can power their homes with clean, renewable energy and typically achieve significant financial savings. Offering integrated residential solar solutions for the entire customer lifecycle, Vivint Solar designs, installs, monitors and services the solar energy systems for its customers. In addition to being able to purchase a solar energy system outright, customers may benefit from Vivint Solar’s affordable, flexible financing options or power purchase agreements. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.

Note on Forward-looking Statements

This press release contains forward-looking statements as defined within the meaning of the federal securities laws, including statements regarding the company’s capital availability and security; the company’s strengthened financial position; and the company’s ability to meet its strategic growth objectives. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to the risks set forth in the registration statements and reports that Vivint Solar files with the U.S. Securities and Exchange Commission, which are available on the Investor Relations section of our website at www.vivintsolar.com. Vivint Solar does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Press Contacts

Vivint Solar
Helen Langan 
Director of Public Relations 
385-202-6577  
pr@vivintsolar.com 

Rob Kain
Vice President of Investor Relations 
801-229-6460 
rob.kain@vivintsolar.com

Agency Contact
Ashlyn Hewlett
Method Communications 
801-461-9722 
ashlyn@methodcommunications.com

 

SOURCE Vivint Solar

Enzu Chooses INAP for West Coast Colocation

ATLANTA and HENDERSON, Nev., March 13, 2017 /PRNewswire/ — Internap Corporation (NASDAQ: INAP), („INAP” or the „Company”), a provider of high-performance Internet infrastructure, Colocation, Network and Managed Services, and Cloud Services, and Enzu Inc., an Inc 500 award winner and Infrastructure-as-a-Service (IaaS) hosting provider, today announced a multi-year colocation agreement in INAP’s Los Angeles Data Center.

As Enzu’s hybrid cloud and colocation computing platform serves its clients’ mission-critical needs, Enzu commits to providing 100% uptime across its network infrastructure, with continuous availability and functioning. INAP offered a high-performance, flexible and scalable data center solution in the context of a national platform with a strong track record of reliability and access to leading enterprises, cloud providers and internet peering exchanges.

„To properly support our customers’ growth, it was critical that we find a facility in the right location with the correct architecture, capacity and scalability for rapid, high density, high bandwidth deployments, and INAP’s purpose-built data center fit the bill,” stated Steve Empie, chief executive officer of Enzu. „The facility’s design allows us to step in and deploy a wide variety of customers at the required 4-10Kw level without having to make modifications. INAP offers us access to dark fiber, allowing a multi-terabit DWDM solution, while maintaining not just the redundancy of being outside LA’s power grid but a very strongly built environment that can sustain power in an outage, which has frequently happened in this geography. INAP is the right partner to serve our customers’ needs, and we look forward to a quick implementation.”

„INAP is pleased to welcome Enzu as a customer in our data center,” said Mike Higgins, SVP sales and customer service – colocation business unit. „Companies in the rapidly growing cloud vertical recognize INAP data centers are a good fit for their infrastructure needs due to our patented, route-optimized connectivity to the cloud exchanges, high power density and agility to rapidly stand up footprint which enables them to hyper-scale their cloud infrastructure as they grow.”

INAP’s Data Center services feature concurrently maintainable design to eliminate single points of failure and ensure reliability, as well as on-site data center engineers, advanced security features and remote management self-service tools. Backed by a 100% uptime guarantee, INAP’s global Performance IP connectivity service with patented Managed Internet Route Optimizer Supporting resources:

About Enzu
Enzu Inc., a leading Global provider of Hybrid Colocation and Infrastructure-as-a-Service (IaaS), offers customers access to scalable solutions allowing customers to migrate their current workloads to environments ranging from private clouds to hybrid colocation environment. Enzu provides these services across 4 continents. For more information, please visit www.enzu.com.

About Internap Corporation
Internap Corporation (NASDAQ: INAP) is a leading technology provider of Internet infrastructure through both Colocation Business and Enterprise Services (including network connectivity, IP, bandwidth, and Managed Hosting), and Cloud Services (including enterprise-grade AgileCLOUD 2.0, Bare-Metal Servers, and SMB iWeb platforms). INAP’s global high-capacity network connects 15 company-controlled Tier 3-type data centers in major markets in North America, 34 wholesale partnered facilities, and points of presence in 26 central business districts around the world. INAP continues to transform since its inception in 1996, meeting customer demand for custom solutions and high-touch state-of-the-art colocation and cloud products and services. INAP now operates a premium business model that also provides high-power density colocation, low-latency bandwidth, and public and private cloud platforms in an expanding internet infrastructure industry. For more information, visit www.inap.com.

Enzu Contact
Mark D. Jiannino
562 896 9373
mark.jiannino@enzu.com

INAP Investor Contacts
Richard Ramlall
404-302-9982
ir@inap.com

Carolyn Capaccio/Jody Burfening
LHA
212-838-3777
inap@lhai.com  

 

SOURCE Internap Corporation; Enzu Inc.

/R E P E A T — Alimentation Couche-Tard will release its third quarter results for 2017 on March 14th, 2017/

LAVAL, QC, Feb. 23, 2017 /PRNewswire/ – Alimentation Couche-Tard Inc. („Couche-Tard”) (TSX: ATD.A ATD.B), will be holding a conference call on March 14th, 2017, at 2:30pm (EST) to present its third quarter financial results for 2017. As such, Brian Hannasch, President and CEO, as well as Claude Tessier, Chief Financial Officer, will be the speakers and will answer the analysts’ questions. Therefore, Couche-Tard invites analysts known to the Corporation to submit their two questions to its management before 11:00 AM (EST) on March 14th, 2017. The results will be released on March 14th prior to the opening of the TSX.

Financial analysts, investors, medias and any individuals interested in listening to the webcast on Couche-Tard’s results which will take place online on March 14th, 2017, at 2:30 P.M. (EST) can do so by either accessing the Corporation’s website at http://corpo.couche‑tard.com by clicking in the „Investor Relations/Corporate presentations” section or by dialing 1-866-865-3087 or the international number 1-647-427-7450, followed by the access code 76548088#.

Rebroadcast: For individuals who will not be able to listen to the live webcast, a recording of the webcast will be available on the Corporation’s website for a period of 90 days.

About Alimentation Couche-Tard Inc.

Couche-Tard is the leader in the Canadian convenience store industry. In the United States, it is the largest independent convenience store operator in terms of number of company-operated stores. In Europe, Couche-Tard is a leader in convenience store and road transportation fuel retail in the Scandinavian countries (Norway, Sweden and Denmark), in the Baltic States (Estonia, Latvia and Lithuania) and in Ireland with an important presence in Poland.

In addition, under licensing agreements, more than 1,500 stores are operated under the Circle K banner in 13 other countries and territories worldwide (China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, the United Arab Emirates and Vietnam), which brings the total network to close to 12,300 stores.

For more information on Alimentation Couche-Tard Inc., please visit: http://corpo.couche-tard.com.

Forward-Looking Statements

The statements set forth in this press release, which describe Couche-Tards objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as „will”, „plan”, „evaluate”, „estimate”, „believe”, „expect” and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tards actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this press release is based on information available as of the date of the release.

SOURCE Alimentation Couche-Tard Inc.

Micronet Enertec Receives $350,000 Order for An Unmanned Aerial Vehicle Diagnosis and Simulation System

MONTVALE, N.J., March 13, 2017 /PRNewswire/ — Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), announced today that its wholly-owned subsidiary, Enertec Systems 2001 Ltd. (Enertec), was recently awarded a purchase order from a large private aerospace & defense contractor totaling approximately $350,000. The contract is a continuous order for the development of a rugged diagnosis and simulation system for unmanned aerial vehicles (UAVs).

„This important order clearly demonstrates the strong position we have gained with our customers and we expect additional orders for this multi disciplinarily rugged diagnosis and simulation system, as Enertec’s tailor-made systems have become the ‚system of choice’ for large aerospace & defense contractors in,” stated Enertec Chief Executive Officer Zvi Avni of Enertec.

About Micronet Enertec Technologies, Inc.

Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial Mobile Resource Management (MRM) market. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing the defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities.  MICT’s MRM division develops, manufactures and provides mobile computing platforms for the mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction

Forward-looking Statements

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding Enertec’s diagnosis and simulation system continues demand and for Enertec’s future and our anticipation of additional orders of our products and solutions. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the „Risk Factors” section and elsewhere in the Company’s annual report on Form 10-K for the year ended December 31, 2015 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

 

SOURCE Micronet Enertec Technologies, Inc.

Timken Selected for the Seventh Time as One of the World’s Most Ethical Companies

NORTH CANTON, Ohio, March 13, 2017 /PRNewswire/ — The Timken Company (NYSE: TKR; www.timken.com), a global leader in bearings and mechanical power transmission products, has once again been recognized by the Ethisphere Institute as one of the world’s most ethical companies.

„Throughout our company’s 117-year history, doing the right thing and treating others with honesty and respect have been at the center of everything we do,” said Richard G. Kyle, Timken president and CEO. „Timken associates are known worldwide for standing by their word and making things right.”

Timken is one of 131 organizations selected as a 2017 World’s Most Ethical Company®. The company has been recognized each year for the last seven and is one of only five companies in the Industrial Manufacturing category to receive this designation, underscoring Timken’s commitment to leading ethical business standards and practices.

Scores are generated in five key categories: ethics and compliance program (35%); corporate citizenship and responsibility (20%); culture of ethics (20%); governance (15%) and leadership; and innovation and reputation (10%).

„Over the last 11 years, we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. „We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage. Congratulations to everyone at The Timken Company for being recognized as a World’s Most Ethical Company.”

About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine. More information about Ethisphere can be found at: http://ethisphere.com.

About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken®,  Fafnir®, Philadelphia Gear®, Drives®, Lovejoy® and Interlube™. Known for its quality products and collaborative technical sales model, Timken posted $2.7 billion in sales in 2016. With more than 14,000 employees operating from 28 countries, Timken makes the world more productive and keeps industry in motion.

 

SOURCE The Timken Company

Kennametal Honored As One Of The World’s Most Ethical Companies By The Ethisphere Institute For Sixth Consecutive Year

PITTSBURGH, March 13, 2017 /PRNewswire/ — Kennametal Inc. (NYSE: KMT) today announced that it has been recognized as one of 2017’s World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.

This marks the sixth consecutive year that Kennametal has received the World’s Most Ethical Companies distinction, which honors companies who consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture as an underpinning to the decisions they make every day.

„Regardless of roles, responsibilities or location, Kennametal team members are united by their strong passion to conduct business with the highest ethical standards each day,” said President and CEO Ron De Feo. „We are proud to be regarded among the world’s most ethical companies for six consecutive years, and will continue to work diligently to conduct business with the utmost integrity.”

In addition to the company’s extensive ethics training program, Kennametal’s executive team led by De Feo hosts Business Practice Summits in the Americas, EMEA and Asia Pacific regions to reinforce business standards and expectations across the organization and at all levels.

„Over the last eleven years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. „Congratulations to everyone at Kennametal for being recognized as a World’s Most Ethical Company.”

Kennametal is the only company in the machine tools and accessories industry to be honored this year, underscoring their commitment to leading ethical business standards and practices. Company representatives will accept the 2017 World’s Most Ethical Companies award at Ethisphere’s Annual Gala Dinner on March 14 in New York City.

At the forefront of advanced materials innovation for more than 75 years, Kennametal Inc. is a global industrial technology leader delivering productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 11,000 employees are helping customers in more than 60 countries stay competitive. Kennametal generated nearly $2.1 billion in revenues in fiscal 2016. Learn more at www.kennametal.com

SOURCE Kennametal Inc.

Arthur J. Gallagher & Co. Named A World’s Most Ethical Company® By The Ethisphere Institute For The Sixth Consecutive Year

ROLLING MEADOWS, Ill., March 13, 2017 /PRNewswire/ — Arthur J. Gallagher & Co. (Gallagher) (NYSE: AJG), one of the world’s largest insurance brokerage and risk management services providers, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2017 World’s Most Ethical Company®.

Gallagher has received this recognition for six consecutive years and is the only insurance broker to have been so recognized, underscoring their commitment to leading ethical business standards and practices.

„Our company is highly focused on operating with integrity and adhering to the highest standards of moral and ethical behavior, and we are deeply honored to have once again been recognized as a World’s Most Ethical Company by the Ethisphere Institute,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. „This designation is a true testimony to the integrity, professionalism and client-service focus of our global team, and to the strength of our company’s culture and core values.”

Twenty-seventeen is the eleventh year that Ethisphere has honored those companies who recognize their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture as an underpinning to the decisions they make every day.

„Over the last eleven years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. „Congratulations to everyone at Arthur J. Gallagher & Co. for being recognized as a World’s Most Ethical Company.”

Methodology & Scoring
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient®(EQ) framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.

Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.

­­Honorees
The full list of the 2017 World’s Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.

Best practices and insights from the 2017 honorees will be released in a series of infographics and research throughout the year (view or download the 2016 insights). Organizations interested in how they compare to the World’s Most Ethical Companies are invited to participate in the Ethics Quotient.

About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 33 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine. More information about Ethisphere can be found at: http://ethisphere.com.

Media Contacts

Arthur J. Gallagher & Co. Media Contact
Linda J. Collins
VP-Corporate Communications
630.285.4009

Ethisphere Media Contact
Clea Nabozny
480.397.2658
Clea.Nabozny@ethisphere.com

 

SOURCE Arthur J. Gallagher & Co.

NXP Taps into FD-SOI Technology to Enable the Industry’s Lowest Power General Purpose Applications Processors

Company is first to market with general-purpose processor design based on Fully Depleted Silicon On Insulator (FD-SOI) technology for ultra-low power consumption and rich graphics in battery powered applications

NUREMBERG, Germany, March 13, 2017 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ:NXPI) is first to market with a new applications processor design that leverages Fully Depleted Silicon On Insulator (FD-SOI) technology to offer the industry’s lowest power consuming general-purpose processor. Coupling FD-SOI with the company’s multiple fully independent domain architecture, NXP’s innovative design delivers a deep sleep suspend power consumption of 15 uW or less, 17 times less in comparison to previous low power i.MX 7 devices, while the dynamic power efficiency is improved by 50 percent on the real time domain. This new design based on FD-SOI’s lower voltage capability enables rich user experience through extremely power-efficient graphics acceleration, a fundamental requirement in many of today’s consumer and industrial battery-operated devices that incorporate robust graphic interfaces. Further enablement includes rich Linux or Android ecosystem with the real-time capability supported by FreeRTOS. 

/EIN News/ — A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/10fffc6d-82f9-45e9-b5c9-3e132e118498

“Power consumption is at the heart of every decision we made for our new applications processor design, which now makes it possible to achieve stunning visual displays and ultra-low power standby modes in a single processor,” said Joe Yu, vice president of low power MPUs at NXP. “From the selection of the FD-SOI process and dual GPU architecture, to the heterogeneous processor architecture with independent power domains, every aspect of our new processor design is aimed at providing the best performance and user experience with unprecedented energy efficiency.”

The design’s extreme low leakage and operating voltage (Vdd) scalability is attained through reverse and forward body biasing (RBB/FBB) of the transistors and its smart power system architecture. This high performance, low power solution is optimized for customers developing IoT, home control, wearables and other applications that spend a significant amount of time in standby mode with short bursts of performance-intense activity that require exceptional graphics processing. 

NXP’s unique FD-SOI design enables:

  • Large dynamic gate and body biasing voltage (Vbb) range
  • Domain and subsystem optimization with custom standard cell library with mixed voltages
  • Low quiescent current (Iq) bias generators
  • Enhanced ADC performance with unique FD-SOI attributes
  • Fail Safe I/O for simplified low power system design

“We are excited that NXP is the first to bring the benefits of FD-SOI (28FDS) technology to the general purpose market,” said Ryan Lee, VP of the Foundry Marketing Team at Samsung Electronics. “28FDS technology will satisfy a growing and critical need for ultra low power designs that require power-performance at very low voltages. We plan to evolve 28FDS technology to a differentiated low-power single platform by implementing RF and embedded Non-Volatile Memory (eNVM) solution for our customers’ success.”

NXP’s processor design enables robust low power graphics for the IoT and Wearable markets through two graphic processor units (GPU) from Vivante–the GC7000 NanoUltra 3D GPU with a low power single shader, and the GC320 Composition Processing Core (CPC) for 2D graphics. The 3D GPU plays a critical role in enabling rich 3D based user interfaces, while the CPC can accelerate both rich 3D and simpler 2D user interfaces.  Processors based on the combination of the two GPUs enable efficient display systems which offload and significantly reduce system resources, in turn providing rich user interfaces at low power levels to extend the battery life of devices. 

“Our 3D GPU is a result of a joint collaboration between Vivante and NXP to deliver industry-leading 3D capabilities with the lowest power consumption,” said Wei-Jin Dai CEO at Vivante Corporation and Chief Strategy Officer and GM of IP Division at Verisilicon. “The power savings from using the right GPU in an ultra low power processor is one of the major attributes and advantages of the architecture.” 

Availability
The i.MX 7ULP applications processor family is currently sampling to select customers. Broader availability of pre-production samples is scheduled for Q3 2017.    

See NXP Technologies in Action at Embedded World 2017 in Nuremberg, Germany
Visit NXP during Embedded World in Hall 4A – 220 at the Exhibition Centre Nuremberg. See the new i.MX 7ULP applications processor in action and interact with other innovative demonstrations for embedded solutions enabling the IoT from smart cars to smart industry.

For more information about NXP news at Embedded World, please visit www.nxp.com/EW17/mediacenter.

About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ:NXPI) enables secure connections and infrastructure for a smarter world, advancing solutions that make lives easier, better and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the secure connected vehicle, end-to-end security & privacy and smart connected solutions markets. Built on more than 60 years of combined experience and expertise, the company has 31,000 employees in more than 33 countries and posted revenue of $9.5 billion in 2016. Find out more at www.nxp.com.

NXP and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. All rights reserved. © 2017 NXP B.V.   

For more information, please contact:
                    
                    Americas
                    Tate Tran   
                    Tel: +1 408-802-0602
                    Email:tate.tran@nxp.com
                    
                    Europe 
                    Martijn van der Linden
                    Tel: +31 6 10914896
                    Email: martijn.van.der.linden@nxp.com
                    
                    Greater China / Asia 
                    Esther Chang
                    Tel: +886 2 8170 9990
                    Email: esther.chang@nxp.com

Primary Logo

TiGenix Announces Top-Line Phase I/II Results of AlloCSC-01 in Acute Myocardial Infarction

PRESS RELEASE
REGULATED INFORMATION
INSIDE INFORMATION

TiGenix Announces Top-Line Phase I/II Results of AlloCSC-01 in Acute Myocardial Infarction

Leuven (BELGIUM) – March 13, 2017, 07:00h CET – TiGenix NV (Euronext Brussels and Nasdaq: TIG), an advanced biopharmaceutical company focused on developing novel therapeutics from its two proprietary platforms of donor-derived expanded adipose derived stem cells (eASC) and donor-derived expanded cardiac stem cells (AlloCSCs), today announced top-line one-year results from the CAREMI clinical trial, an exploratory Phase I/II study of AlloCSCs in acute myocardial infarction (AMI).

CAREMI is the first-in-human clinical trial with the primary objective being safety and evaluating the feasibility of an intracoronary infusion of 35 million of AlloCSCs in patients with AMI and left ventricular dysfunction treated within the first week post-AMI. Importantly, the trial is the first cardiac stem cell study to integrate a highly discriminatory magnetic resonance imaging (MRI) strategy to select patients at increased risk of heart failure and late adverse outcomes. CAREMI was not powered to establish efficacy therefore no conclusion can be drawn on the secondary efficacy end-points.

The main findings of this study are:

  • All safety objectives of the study have been met. No mortality or major cardiac adverse events (MACE) have been found at 30 days meeting the primary end-point of the study. Moreover no mortality and MACE have been found at 6 months or 12 months follow-up
  • Of particular relevance to this allogeneic approach, no immune-related adverse events have been recorded at one-year follow-up
  • A larger reduction in infarct size was found in one pre-specified subgroup associated with poor long-term prognosis and representing more than half of the patient population of the randomization phase of the study. This finding has revealed valuable insight, and provides a specific direction for potential studies in a targeted subset of high-risk patients

„This is the first trial in which it has been demonstrated that allogeneic cardiac stem cells can be transplanted safely through the coronary tree, and in the worst possible setting represented by patients with an acute heart attack with left ventricular dysfunction,” commented Professor Fernández-Avilés, Head of the Department of Cardiology at the Hospital General Universitario Gregorio Marañón in Madrid (Spain), principal investigator on the trial in Spain. „It is especially encouraging that no cardiac or immunological side effects were observed.”

„This is the first study in which we have used a state of the art comprehensive MRI analysis to include patients with a large myocardial infarction in an innovative cell therapy protocol,” said Professor Janssens, Head of the Department of Cardiovascular Diseases, University Hospital, Leuven (Belgium), and principal investigator on the trial in Belgium. „Serial MRI analysis and extensive immunological profiling will allow us to further explore the encouraging signals we observed in cell treated patients with the worst MRI signature. These findings offer an exciting prospect for targeted follow-up studies in these high-risk patients.”

„Besides confirming the long term safety of the treatment these results suggest interesting opportunities in populations with high unmet medical need,” said Dr. Marie Paule Richard, Chief Medical Officer at TiGenix. „We look forward to working with our advisors to analyze the data in depth and determine the best way forward with AlloCSC-01 during the second half of this year.”

Full data results from the CAREMI study will be presented at an upcoming medical congress.

###

For more information

Claudia D’Augusta
Chief Financial Officer

T: +34 91 804 92 64

claudia.daugusta@tigenix.com

About TiGenix

TiGenix NV (Euronext Brussels and Nasdaq: TIG) is an advanced biopharmaceutical company focused on developing and commercializing novel therapeutics from its proprietary platforms of allogeneic, or donor-derived, expanded stem cells. Two products from the adipose-derived stem cell technology platform are currently in clinical development: Cx601 in Phase III for the treatment of complex perianal fistulas in Crohn’s disease patients; Cx611 which has completed a Phase I sepsis challenge trial and a Phase I/II trial in rheumatoid arthritis. Effective July 31, 2015, TiGenix acquired Coretherapix, whose lead cellular product, AlloCSC-01, has concluded a Phase II clinical trial in Acute Myocardial Infarction (AMI). In addition, the second product candidate from the cardiac stem cell-based platform acquired from Coretherapix, AlloCSC-02, is being developed in a chronic indication. On July 4, 2016, TiGenix entered into a licensing agreement with Takeda, a large pharmaceutical company active in gastroenterology, under which Takeda acquired the exclusive right to commercialize Cx601 for complex perianal fistulas outside the United States. TiGenix is headquartered in Leuven (Belgium) and has operations in Madrid (Spain). For more information, please visit http://www.tigenix.com.

About AlloCSC-01

AlloCSC-01 is a cellular product consisting of adult expanded allogeneic cardiac stem cells isolated from the right atrial appendages of donors, and expanded in vitro. Pre-clinical data has shown evidence of the strong cardio-protective and immune-regulatory activity of AlloCSC-01. In vivo studies suggest that AlloCSC-01 has cardio-reparative potential by activating endogenous regenerative pathways and by promoting the formation of new cardiac tissue. In addition, AlloCSC-01 has displayed a strong tropism for the heart enabling a high retention of cells in the myocardium after intracoronary administration.

About CAREMI

The CAREMI trial comprised two consecutive phases: an open-label dose-escalation phase (n=6) and a 2:1 randomized, double-blind, placebo-controlled phase (n=49). The objective of this clinical trial is to evaluate the safety and the efficacy of the cardiac stem cells product AlloCSC-01 in the acute phase of ischemic heart disease. The primary safety endpoint are all-cause mortality within 30 days and percentage of patients with major adverse cardiac events (MACE) within 30 days after treatment. MACE is a broader safety endpoint that covers all-cause mortality as well as new AMI, hospitalization due to heart failure, sustained ventricular tachycardia, ventricular fibrillation and stroke. Secondary safety endpoints include percentage of patients with MACE at 6 and 12 months after treatment, all-cause mortality at 12 months after treatment and percentage of patients with AE during the study. Secondary efficacy include MRI parameters (evolution of infarct size and evolution of biomechanical parameters) and clinical parameters (including the 6 minute walking test and the New York Heart Association scale). The CAREMI study has been conducted at the Hospital General Universitario Gregorio Marañon, Madrid, UZ Leuven, Hospital de Navarra, Hospital Clínico Universitario de Valladolid, Hospital Universitario de Donostia, Hospital Universitario de Salamanca, Hospital Clínico Universitario de Valencia, and Hospital Virgen de la Victoria de Málaga. The CAREMI trial has benefitted from the support of the CARE-MI consortium (Grant Number 242038, http://www.caremiproject.eu/) funded by the Seventh Framework Programme of the European Commission under the coordination of the Centro Nacional the Investigaciones Cardiovasculares (CNIC) and the participation of research institutions and companies from nine EU countries.

Forward-looking information

This press release may contain forward-looking statements and estimates with respect to the anticipated future performance of TiGenix and the market in which it operates. Certain of these statements, forecasts and estimates can be recognised by the use of words such as, without limitation, „believes”, „anticipates”, „expects”, „intends”, „plans”, „seeks”, „estimates”, „may”, „will” and „continue” and similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond the Company’s control. Therefore, actual results, the financial condition, performance or achievements of TiGenix, or industry results, may turn out to be materially different from any future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of the publication of this press release. TiGenix disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in the Company’s expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by Belgian law.

/EIN News/ —