Australia’s WorleyParsons has entered into a binding agreement to acquire US contractor Jacobs Engineering’s Energy, Chemicals & Resources (ECR) division, a leading global technical services provider across Hydrocarbons, Chemicals and Mining & Minerals.
ECR has a global footprint with long-term, blue-chip relationships in key strategic markets, most notably the US, Canada, the Middle East and India. The business has more than 30,900 employees in 27 countries.
Jacobs ECR is ranked number one globally for its delivery of complex petrochemical and chemical projects, its maintenance, modifications and operations (MMO) for hydrocarbons projects, including onshore and offshore production facilities and integrated project delivery, construction and technical services.
In combining the two complementary organizations WorleyParsons will create a pre-eminent global provider of project and asset services in resources and energy and provide global sector leadership across hydrocarbons, chemicals and minerals & metals.
WorleyParsons CEO Andrew Wood said: “We are excited to combine Jacobs ECR’s world-class capabilities with our global platform to create a leader across our key focus sectors. The transaction will bring complementary capabilities in key business lines, including a best-in-class onshore and downstream MMO capability allowing customers to benefit from as expended integrated solutions offering, while our employees will have increased opportunity for development as part of the leading global project delivery provider in our sectors.”
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Google entered a deal with Carrefour to sell groceries online in France. Next year, shoppers in this European country will be able to buy Carrefour’s products through Google’s platforms such as Google Home, Google Assistant and Google Shopping.
Carrefour says it’s the first retailer partnering with Google in France on a new grocery shopping service. Items ordered through Home, Assistant or a new experience on the Google Shopping website in France can be delivered to the customer’s home or picked up in-store.
Carrefour first partner of Google on grocery ecommerce in Europe
“This alliance makes Carrefour the first partner of Google on grocery ecommerce in Europe, creating a strong bond between the two companies. It also marks an important step in the new story written by Carrefour since the announcement of the Carrefour 2022 plan”, CEO Alexandre Bompard said. “It allows us to accelerate our digital evolution and get a head start in deploying the omni-channel approach we want to offer our customers.”
Partnership goes further than selling food online
As part of the partnership, Carrefour will also open an innovation lab in Paris, where its engineers will work side-by-side with Google Cloud AI experts to create new consumer experiences. And finally, the French supermarket chain will further transform digitally with the support of Google Cloud. The company will deploy Google Cloud’s G Suite productivity and collaboration solutions to over 160,000 Carrefour employees.
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Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Wan Hai Lines (Singapore) Pte Ltd. for one of its Post-Panamax container vessels, the m/v Rotterdam.
The global shipping company specializing in the ownership of containerships said in a press release that the gross charter rate is US$18,200 per day, minus a 3.75% commission paid to third parties, for a period of up to minimum April 15, 2019 to maximum July 15, 2019.
The charter will commence on July 13, 2018. The m/v Rotterdam is currently chartered, as previously announced, at a gross charter rate of US$13,150 per day, minus a 3.75% commission paid to third parties.
The “Rotterdam” is a 6,494 TEU container vessel built in 2008.
This employment is anticipated to generate approximately US$4.95 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sales of two Post-Panamax container vessels, Diana Containerships Inc.’s fleet will consist of 4 container vessels (2 Post-Panamax and 2 Panamax).
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Wabtec Corporation has entered into a definitive agreement to combine with GE Transportation, a unit of General Electric Company.
The combination will make Wabtec a Fortune 500, global transportation leader in rail equipment, software, and services, with operations in more than 50 countries.
The deal is the biggest to be inked thus far by GE Chief Executive John Flannery since he announced a major overhaul of the U.S. industrial conglomerate late last year.
Under the agreement, which has been approved by the Boards of Directors of Wabtec and GE, GE will receive $2.9 billion in cash at closing and GE and its shareholders will receive a 50.1% ownership interest in the combined company, with Wabtec shareholders retaining 49.9% of the combined company.
The transaction is expected to be tax-free to the companies’ respective shareholders.
The combination will bring together two global leaders in rail equipment, services, and software, combining GE Transportation, a global digital industrial leader, and supplier to the rail, mining, marine, stationary power and drilling industries, with Wabtec’s broad range of freight, transit and electronics solutions.
Wabtec and GE shareholders will have ownership in a combined company with significantly expanded margins, a highly attractive growth profile based on an improved business mix, expanded global reach, and faster innovation in key growth areas.
Key Strategic Benefits
The combination is expected to:
Drive increased value for shareholders: With approximately $8 billion in combined revenues and a large global installed base, the combined company will have a leading position in key freight rail and transit geographies worldwide and will be well-positioned to serve customers as industry demand continues to improve. Investors are expected to benefit through ownership of a stronger, more diverse business better positioned to perform through the cycle, with expected annual double-digit EPS growth and total run-rate synergies of about $250 million estimated to be achieved by 2022. Furthermore, the transaction will facilitate a tax step-up with an NPV of approximately $1.1 billion of net tax benefit accruing to the combined company.
Create a leading equipment, aftermarket services, and digital solutions provider across the transportation ecosystem: From factory to the final destination – and every point in-between – the combined company will have the capabilities to accelerate lifecycle solutions for the transportation industry and unlock significant productivity for customers by improving interoperability, efficiency, and competitiveness.
Capitalize on digital/electronic technologies to develop autonomous capabilities: Bringing together GE Transportation’s digital solutions with Wabtec’s electronic systems is expected to drive the advancement and implementation of technology solutions to improve safety, efficiency and productivity for the transportation industry. This combination will create a compelling offering to meet the industry’s rapidly growing demand for rail performance, with the potential to unlock billions in annual savings across freight rail for customers and operators.
Generate growth opportunities through the extensive installed base and attractive global footprint: The combined company will be a leading global freight and transit rail provider with more than 23,000 locomotives in its global installed base and content on virtually all locomotives and freight cars in North America, creating significant opportunities for aftermarket parts and services in key regions around the world.
Betler said: “Wabtec and GE Transportation are global industry leaders and we believe that together we have a unique opportunity to drive tremendous growth in 2019 and beyond as the industry continues to improve. By bringing together our highly complementary strengths we are confident that this transformational combination will create value for both Wabtec and GE shareholders, innovative solutions for our customers, and new outlets for long-term career growth for our employees. Our two companies have more than 250 years of rail industry heritage, and our shared focus on safety, reliability, quality, and customer relationships will enable a smooth integration.”
Santana said: “The combination of our two strong brands and remarkable people is an excellent fit that will create an organization well-positioned to accelerate the future of transportation. Together, we can expand our global reach, strengthen our market capabilities and lead digital innovation across the transportation industry. We are seeing growth in rail traffic and recent promising orders for new and modernized locomotives from North American Class I, Shortlines and international railroads, and are confident in the compelling long-term opportunities and synergies before us.”
About Wabtec Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars, and passenger transit vehicles. The company also builds new switcher and commuter locomotives and provides aftermarket services. The company has roughly 18,000 employees and facilities located throughout the world. For the fiscal year ending December 31, 2017, Wabtec generated approximately $3.9 billion in revenue and $504 million in adjusted EBIT (approximately 13% margin).
About GE Transportation GE Transportation helps move the world and improve the world, as a global technology leader and supplier of equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries. GE Transportation’s innovations help customers deliver goods and services with greater speed and savings using advanced manufacturing techniques and connected machines. The company employs approximately 9,000 employees worldwide. GE Transportation has a backlog of roughly $18 billion, including approximately 1,800 new locomotives and roughly 1,000 locomotive modernized units. For the fiscal year ending December 31, 2017, GE Transportation generated approximately $3.9 billion in revenue and $701 million in adjusted EBIT (approximately 18% margin).
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Wincanton plc and Birmingham-based MiX Telematics (Europe) have entered into a three year contract which sees MiX Telematics becoming Wincanton’s supplier of telematics services.
With its key aim being to enhance safety in operation by reducing road risk, the contract includes an extensive adoption of MIX’s premium fleet telematics solution, specifically tailored to Wincanton’s requirements.
Developed from the WinSafe programme led by Wincanton Group Fleet Director Carl Hanson, the telematics strategy is primarily focused on providing drivers and managers with the information they need to optimise performance and enhance safety on the road. “An extensive proof-of-concept trial established MiX Telematics as the ideal telematics partner for Wincanton,” says Carl Hanson. ” Safety in operation is always our top priority, and we believe MiX Telematics’ solution will help us derive significant benefits in this respect.”
The contract will see MiX’s premium fleet solution and accessories installed across 1,800 Wincanton vehicles. The solution includes MiX’s camera solution, MiX Vision, and MiX DriveMate, an in-cab driving aid. In order to further promote driver engagement, all Wincanton drivers will be provided with access to MyMiX, a mobile app which allows drivers to view their own performance data and compare it with that of their colleagues.
Remote tachograph downloading will further enhance safety in operation while helping to ensure ongoing compliance throughout the nationwide Wincanton fleet. In addition, the proven cost and environmental benefits associated with telematics solutions will be further ROI indicators.
For MiX Telematics, Sales Director Richard Adams says: “We are delighted to have been awarded this major contract, which follows an extensive tendering process and a demanding six-month trial. We now look forward to working with our colleagues at Wincanton and providing them with the ongoing consultancy services which will ensure the maximum benefit is derived from our partnership and telematics solution.”
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