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Category: Europe

  • MIL-OSI USA: Merkley, Wyden Join Effort Raising Alarm Over Trump Administration Chaos at Critical National Security Agencies

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    February 04, 2025

    Washington, D.C. – Today, Oregon’s U.S. Senators Jeff Merkley — a member of the Senate Foreign Relations Committee – and Ron Wyden joined an effort led by Senator Tim Kaine (D-VA) that raises the alarm of the growing chaos and dysfunction at the U.S. Department of State and the Trump Administration’s illegal attempt to destroy the U.S. Agency for International Development (USAID). USAID is a critical pillar of U.S. national security strategy, providing lifesaving aid and development support around the world to help advance America’s interests. On Monday, personnel at USAID were not permitted to enter the agency’s headquarters, and Elon Musk announced that President Donald Trump agreed to close the agency and move it under the State Department – which Trump has no legal authority to do. The Trump Administration, led by Musk, has also furloughed thousands of government employees, including two top security officials who denied the Department of Government Efficiency access to classified documents and systems.

    “…We are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners,” wrote the senators.

    The senators continued, “The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.”

    “Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat,” wrote the senators.

    They continued, “Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.”

    The letter to Secretary of State Marco Rubio is led by Kaine, and signed by Merkley, Wyden, U.S. Senators Cory Booker (D-NJ), Dick Durbin (D-IL), Ruben Gallego (D-AZ), Lisa Blunt Rochester (D-DE), Michael Bennet (D-CO), Elizabeth Warren (D-MA), Peter Welch (D-VT), Edward J. Markey (D-MA), Kirsten Gillibrand (D-NY), Bernie Sanders (I-VT), Gary Peters (D-MI), Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Martin Heinrich (D-NM), Amy Klobuchar (D-MN), Tammy Duckworth (D-IL), Andy Kim (D-NJ), Adam Schiff (D-CA), Angus S. King (I-ME), Sheldon Whitehouse (D-RI), John Hickenlooper (D-CO), Mazie K. Hirono (D-HI), Alex Padilla (D-CA), Tina Smith (D-MN), Catherine Cortez Masto (D-NV), Jack Reed (D-RI), Chris Murphy (D-CT), Jacky Rosen (D-NV), Mark Kelly (D-AZ), Brian Schatz (D-HI), Mark R. Warner (D-VA), Chris Van Hollen (D-MD), Chris Coons (D-DE), and Elissa Slotkin (D-MI).

    The full text of the letter is available here and below.

    Dear Secretary Rubio:

    The effective administration of U.S. foreign assistance is critical to advancing core U.S. national security priorities, including countering the influence of China, Russia and Iran. As you acknowledged at your confirmation hearing, pushing back on China in particular is a top bipartisan priority.

    As such, we are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners.

    The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.

    Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat.

    Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.

    We request immediate clarification on the following:

    Status of USAID:

    1. Confirmation of your understanding that any effort to abolish USAID or merge USAID into the Department of State absent Congressional consultation and approval is illegal.
    2. Confirmation of your understanding that adversaries such as China, Russia and Iran are quickly moving into the vacuum left by suspended USAID programs. 
    3. The Department of State’s assessment of Mr. Elon Musk’s financial ties to China and the impact of these ties to the decision-making process of Mr. Musk and his employees.
    4. Confirmation that neither you nor any member of your leadership team are taking direction from Mr. Musk with regards to the work of the Department of State or USAID, personnel or financial decisions for either agency, or any other matters relevant to U.S. national security. 
    5. Confirmation of the names and employment status of individuals directed by Mr. Musk to engage with USAID staff, the qualifications of these individuals, and the level of their security clearances – if any.

    Personnel:

    1. Confirmation of your understanding that any unauthorized access by or disclosure of classified information to individuals without appropriate security clearance could be considered a criminal offense.
    2. The legal authority and rationale under which, on January 28, more than 50 senior career civil and foreign service USAID officials were placed on administrative leave. This move was not only unprecedented, but also inconsistent with the Office of Personnel Management’s own guidelines for the use of administrative leave.
    3. The legal authority under which, on January 28, approximately 390 USAID Institutional Support Contractors (ISCs) were given stop-work orders, and clarification of which Administration official directed the implementation of this termination.
    4. Whether any Department of State career civil and foreign service or contractors have been placed on administrative leave or removed from their roles as a result of or relating to the assistance freeze or any directives from the Office of Foreign Assistance.
    5. Clarification of which Administration official directed the implementation of this mass furlough.
    6. Clarification of whether these individuals were directed to be terminated without cause.
    7. Confirmation that personnel will not face retaliation or retribution for performing their duties under the previous Administration’s policy direction.
    8. Under what authorities and by which official’s directive career civil service, foreign service, and Personal Services Contractors (PSC), and those under other hiring authorities have been removed from their roles or limited in their ability to execute their work.
    9. Confirmation that further career civil service, foreign service and USAID contractors will not be removed from their roles without cause or receive stop work orders.
    10. Whether, upon full resumption of legally mandated foreign assistance activities, the Administration intends to re-hire contractors who have been removed from their roles.
    11. Any additional guidance provided to State and USAID staff regarding the foreign assistance freeze, including confirmation of whether direct hires, contractors, or implementing organizations have been directed not to speak publicly about the foreign assistance freeze.
    12. Public identification of the individual currently serving as the Director or Acting Director of the State Department’s Office of Foreign Assistance and as Acting Deputy Administrator of USAID, and the dates upon which this individual was appointed to each position.
    13. Confirmation of your understanding that the State Department’s Director of Foreign Assistance has no authority to issue personnel directives for USAID.

    Resumption of Foreign Assistance:

    1. The specific process and anticipated timeframe for activities to receive exemptions or waivers, as referenced in your January 28, 2025 directive to State and USAID staff.
    2. The mechanisms and metrics established for this waiver process.
    3. The timeline for full resumption of legally mandated foreign assistance activities.
    4. Clarification of what risk assessment or analysis of potential risk to U.S. national security interests were conducted prior to the decision to freeze foreign assistance activities.
    5. Confirmation of the Department of State’s obligation to comply with U.S. contract law and your responsibility as Secretary of State ensure the Department honors its commitments to contracting partners.

    We welcome your urgent attention to these questions. We and our staff stand ready to work with you to ensure U.S. foreign assistance funding continues to be deployed effectively to protect American citizens, at home and abroad.

    Respectfully,

    MIL OSI USA News –

  • MIL-OSI China: Sweden’s worst mass shooting in history kills 10 at school

    Source: China State Council Information Office

    This is a screenshot captured from the video of the Swedish government’s press conference held on the evening of Feb. 4, 2025. Swedish Prime Minister Ulf Kristersson is speaking to the press. [Photo/Xinhua]

    The school shooting in central Sweden’s Orebro is the worst mass shooting in the country’s history, Swedish Prime Minister Ulf Kristersson said at a press conference late Tuesday.

    Swedish police confirmed on Tuesday evening that around ten people were killed in the shooting, which took place at noon at Risbergska Skolan, an education center, in Orebro. The shooter suspect is among the deceased, according to the police.

    While investigation and further search are ongoing, authorities said the exact number of the victims remained unclear. However, initial findings indicate that the suspect acted alone, and police have ruled out terrorism as a motive.

    Kristersson urged the public to refrain from speculation, emphasizing that authorities must be given space to conduct their investigation.

    “The Swedish public wants to know the reasons, but will have to wait for the answers,” said Swedish Minister of Justice Gunnar Strommer at the press conference. “With time, the picture will clear up.”

    King Carl XVI Gustaf expressed his condolences in a statement, describing the day as a “black day” for Sweden. He extended his sympathies to the families and friends of the victims and the injured, and expressed appreciation for the efforts of police, rescue and healthcare workers.

    Risbergska Skolan mainly serves adults over the age of 20, while also offering primary and secondary school courses and Swedish language classes for immigrants. The city of Orebro is located about 200 km west of Stockholm.

    Speaking to Swedish Radio (SR), local school security specialist Lena Ljungdahl said that while armed violence in schools has been extremely rare in Sweden, violence has escalated outside the educational institutions, including multiple shootings near schools in recent years.

    “I have expected this. Schools are not an isolated place. What happens outside will sooner or later happen inside schools,” Ljungdahl said.

    Mats Knutson, a political analyst of SR, highlighted that the shooting occurred amid years of escalating armed violence in Sweden, with the past few months witnessing an unprecedented number of explosions.

    Sweden is now in a crisis situation, and it is the government’s responsibility to unify the nation, Knutson said.

    MIL OSI China News –

  • MIL-OSI China: China assumes UN Security Council rotating presidency for February

    Source: China State Council Information Office

    While assuming the rotating presidency of the United Nations Security Council for February, China will work on the priorities of reaffirming member states’ commitment to multilateralism and enhancing global governance, Fu Cong, China’s permanent representative to the United Nations, said Monday.

    As the world enters a very turbulent period and the number of conflicts worldwide hits a new high since the Cold War, there is an increasing call in the international community, among the Global South in particular, for reforming and improving the global governance system, he said.

    “At the Security Council, solidarity and cooperation are replaced by division and confrontation. Very often, the Council has been unable to do anything in the face of major security crises. This situation cannot continue,” Fu told a press briefing on the program of work of the Security Council for the month.

    Under its initiative, China will chair a Security Council high-level open debate, scheduled for Feb. 18, on the theme of “Practicing Multilateralism, Reforming and Improving Global Governance.”

    “As we mark the 80th anniversary of the founding of the United Nations this year, the debate aims to encourage countries to revisit the original aspirations of the UN, reaffirm their commitment to multilateralism and the important role of the United Nations, including the Security Council, and to explore ways to reform and improve the global governance,” the envoy said.

    Regarding global and regional issues, Fu said that the 15-member body will continue to focus on the Middle East and strive to find lasting political solutions.

    “It is necessary for the Security Council to pay close attention to the ceasefire in Gaza and take timely actions to ensure that the relevant agreement is fully and effectively implemented and that humanitarian access remains open and unhindered,” he told reporters. “China will urge the Council to closely follow the challenges confronting UNRWA (UN relief agency for Palestinians).”

    In the meantime, the political and security situation in some parts of Africa is extremely volatile. There are huge challenges in terms of peacekeeping and peace-building, as well as humanitarian assistance, Fu said.

    “The Security Council and the wider international community must maintain and increase their attention and support for Africa,” he said. “As the president, China will work with other Council members to promote dialogue and consultation and seek political solutions to African issues.”

    The Security Council is composed of five permanent members — China, the United States, Britain, France, and Russia — and 10 non-permanent members. The presidency of the council rotates among its 15 member states based on the English-language alphabetical order of the countries’ names on a monthly basis.

    China last held the rotating Security Council presidency in November 2023.

    MIL OSI China News –

  • MIL-OSI China: Cultural vibes eagerly embraced by holiday travelers

    Source: China State Council Information Office 3

    Residents watch a dragon dance performance in Xinghua, Jiangsu province, on Sunday during Spring Festival celebrations. Various events, including folk activities and intangible cultural heritage displays, have been held across China to celebrate Spring Festival. [Zhou Shegen / XINHUA]

    Surrounded by crowds and patting the head of a fish-shaped lantern for good luck, 27-year-old Tian Jialiang immersed himself in the rich, festive vibes of Spring Festival in Zhanqi village of Shexian, Anhui province.

    Tian, who is a native of Nanchang in the neighboring province of Jiangxi, was on a four-day self-driving tour to Huangshan, Anhui, with four friends.

    “Spring Festival is one of the most important traditional holidays to the Chinese people. We came here for the village’s strong new year atmosphere and celebrations, where the performers mimic fishes’ movements to bring good luck and fortune. I think it is the essence of the festival,” Tian said.

    Spring Festival, which was added to UNESCO’s Intangible Cultural Heritage list in December, has seen people’s passion skyrocket for tourism destinations highlighting cultural vibes or folk customs.

    This year’s Spring Festival fell on Jan 29, the first day of the first month of the Chinese calendar, and marked the beginning of the Year of the Snake. People in China enjoyed an eight-day break, from Jan 28 to Tuesday.

    Reports from travel agencies showed that cultural tourism destinations were in vogue during the holiday.

    Travel portal Qunar said that cities with festive celebrations or folk customs, including Huangshan in Anhui, Chaozhou and Shantou in Guangdong province, and Quanzhou in Fujian province, were among the most sought-after destinations by its users during the holiday. These places are well known for folk events, including fish-shaped lantern shows, lion dances and hairpin flowers.

    Huangshan saw its hotel room bookings double year-on-year during the holiday.

    Another travel portal, Fliggy, said travelers have shown an increasing interest in immersive tourism events featuring Chinese cultural elements, including visiting temple fairs, wearing traditional Chinese hanfu attire for photo shoots, and appreciating lantern shows. It said that sales of tourism products related to folk custom performances grew 36 percent year-on-year on its platform.

    Liu Gengshuo, 30, who is from the northeastern province of Jilin, booked photo-shooting services featuring traditional hanfu clothing for his wife in Datong, Shanxi province, for the Spring Festival holiday.

    “It has long been our wish to embrace Chinese New Year in Datong, a city that enjoys a long-standing history and is home to much historical architecture, including temples,” Liu said. “The city is filled with a festive atmosphere and beautiful decorations. We will come again for another visit.”

    Qi Chunguang, vice-president of online travel agency Tuniu, said the addition of Spring Festival to UNESCO’s Intangible Cultural Heritage list has greatly increased people’s enthusiasm for traditional Chinese culture, and this turned places with intangible cultural events into hot tourism destinations over the holiday period.

    Some history and culture museums have also been popular, Qi said.

    “People have shown great demand and interest in high-quality travels, as they wish to explore the destination’s cultural and social practices with immersive events. I think the trend will keep the tourism industry developing this year,” he said.

    Chinese travelers also showed strong consumption power and a desire for overseas tourism destinations during the Spring Festival holiday. Figures from Fliggy showed that international cruise bookings surged 229 percent at its platform for the holiday period, and overseas destinations such as the Hong Kong and Macao special administrative regions, as well as countries in Southeast Asia, were top choices for people from the Chinese mainland.

    Cai Muzi, an analyst at travel portal Qunar, said that Thailand continues to rank near the top of Chinese people’s favorite overseas destinations because of the shorter travel hours, visa-free policy, milder climate and cheaper travel costs.

    According to Qunar, Chinese travelers set foot in more than 2,100 cities worldwide during the holiday, with the number increasing 50 percent year-on-year. In addition to Southeast Asian countries and regions, destinations in Europe, the Middle East and Africa, ranging from Hungary and Norway to Saudi Arabia and Egypt, saw an increase in tourism visits by Chinese.

    MIL OSI China News –

  • MIL-OSI Security: VIDEO: IAEA Director General in Ukraine

    Source: International Atomic Energy Agency – IAEA

    IAEA Director General Rafael Mariano Grossi is in Ukraine to assess damage to key electricity infrastructure that is critical to the country’s nuclear safety.

    This is the 11th mission to Ukraine led personally by the Director General since the conflict began almost three years ago, demonstrating the IAEA’s unwavering commitment to assist Ukraine in ensuring nuclear safety and security.

    Read the latest IAEA update on the situation here. 

    MIL Security OSI –

  • MIL-OSI: Constellation Software Inc. and Topicus.com Inc. announce execution of Treasury Shares Purchase Agreement

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 04, 2025 (GLOBE NEWSWIRE) — Constellation Software Inc. (TSX: CSU) and Topicus.com Inc. (TOI.V) today announced that Topicus’ subsidiary, Yukon Niebieski Kapital B.V. (“Yukon”), has entered into a share purchase agreement with Asseco Poland S.A. (the “Company”) and the Adam Góral Family Foundation (“AG”) for Yukon’s acquisition of 12,318,863 treasury shares held by the Company. These shares represent 14.84% of the Company’s share capital and will be purchased at a price of PLN 85 per share (the “Treasury Shares Purchase Agreement“). The completion of the Treasury Shares Purchase Agreement remains subject to obtaining relevant regulatory and antitrust approvals.

    This transaction follows Topicus.com Inc.’s announcement on January 31, 2025, regarding its purchase of 9.99% of the issued shares in the Company from Cyfrowy Polsat S.A. at the same price per share. Additionally, on February 3, 2025, Topicus.com Inc. disclosed that Yukon and TSS Europe B.V. (“TSS”) had signed a shareholders’ agreement with the AG, governing their cooperation as shareholders in the Company. The effectiveness of this shareholders’ agreement is contingent upon the completion of Treasury Shares Purchase Agreement.

    About Asseco Poland S.A.

    Asseco Group is a federation of companies engaged in information technology and operates in 62 countries worldwide. Asseco Group companies are listed on the Warsaw Stock Exchange, Tel-Aviv Stock Exchange as well as on the American NASDAQ Global Markets. Asseco Group offers comprehensive, proprietary IT solutions for all sectors of the economy. 

    About Adam Góral Foundation

    The Adam Góral Family Foundation is a family foundation established by Adam Góral, CEO of Asseco Poland. It operates in accordance with the Polish Family Foundation Act and is registered in Rzeszów, Poland.

    About Topicus.com

    Topicus.com Inc. is a leading pan-European provider of vertical market software and vertical market platforms to clients in public and private sector markets. Operating and investing in countries and markets across Europe with long-term growth potential, Topicus.com Inc. acquires, builds and manages leading software companies providing specialized, mission-critical and high-impact software solutions that address the particular needs of customers.

    For further information, contact:

    Topicus.com Inc.
    Jamal Baksh, Chief Financial Officer
    416-861-9677
    Email: jbaksh@csisoftware.com

    About Constellation Software Inc.

    Constellation acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.

    For further information, contact:

    Constellation Software Inc.
    Jamal Baksh, Chief Financial Officer
    416-861-9677
    Email: jbaksh@csisoftware.com

    The MIL Network –

  • MIL-OSI USA: Hickenlooper, Bennet, Colleagues Call on Trump Admin to Address the Illegal Effort to Dismantle USAID

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado

    WASHINGTON – Today, U.S. Senators John Hickenlooper, Michael Bennet, and Tim Kaine, along with 35 of their Senate colleagues, sent a letter to Secretary of State Marco Rubio expressing their deep concern regarding the illegal attempt by Department of Government Efficiency (DOGE) officials to dismantle the U.S. Agency for International Development (USAID).

    “We are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID),” wrote the senators. “Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners.”

    The senators continued: “The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy.”

    USAID is a critical pillar of U.S. national security strategy, providing lifesaving aid and development support around the world.

    This week, USAID workers were denied access to the agency’s headquarters and the White House threatened to close the agency and move it under the State Department without the necessary congressional approval. The administration has also furloughed thousands of senior career civil servants, including two top security officials who had denied DOGE officials access to classified documents and systems without the proper clearances.

    In their letter, the senators called on Secretary Rubio to address the dysfunction created by these illegal actions and clarify the status of the funding that’s been legally approved by Congress.

    Full text of the letter available HERE and below.

    Dear Secretary Rubio:

    The effective administration of U.S. foreign assistance is critical to advancing core U.S. national security priorities, including countering the influence of China, Russia and Iran. As you acknowledged at your confirmation hearing, pushing back on China in particular is a top bipartisan priority.

    As such, we are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners.

    The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.

    Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat.

    Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.

    We request immediate clarification on the following:

    Status of USAID:

    • Confirmation of your understanding that any effort to abolish USAID or merge USAID into the Department of State absent Congressional consultation and approval is illegal.
    • Confirmation of your understanding that adversaries such as China, Russia and Iran are quickly moving into the vacuum left by suspended USAID programs.
    • The Department of State’s assessment of Mr. Elon Musk’s financial ties to China and the impact of these ties to the decision-making process of Mr. Musk and his employees.
    • Confirmation that neither you nor any member of your leadership team are taking direction from Mr. Musk with regards to the work of the Department of State or USAID, personnel or financial decisions for either agency, or any other matters relevant to U.S. national security.
    • Confirmation of the names and employment status of individuals directed by Mr. Musk to engage with USAID staff, the qualifications of these individuals, and the level of their security clearances – if any.

    Personnel:

    • Confirmation of your understanding that any unauthorized access by or disclosure of classified information to individuals without appropriate security clearance could be considered a criminal offense.
    • The legal authority and rationale under which, on January 28, more than 50 senior career civil and foreign service USAID officials were placed on administrative leave. This move was not only unprecedented, but also inconsistent with the Office of Personnel Management’s own guidelines for the use of administrative leave.
    • The legal authority under which, on January 28, approximately 390 USAID Institutional Support Contractors (ISCs) were given stop-work orders, and clarification of which Administration official directed the implementation of this termination.
    • Whether any Department of State career civil and foreign service or contractors have been placed on administrative leave or removed from their roles as a result of or relating to the assistance freeze or any directives from the Office of Foreign Assistance.
    • Clarification of which Administration official directed the implementation of this mass furlough.
    • Clarification of whether these individuals were directed to be terminated without cause.
    • Confirmation that personnel will not face retaliation or retribution for performing their duties under the previous Administration’s policy direction.
    • Under what authorities and by which official’s directive career civil service, foreign service, and Personal Services Contractors (PSC), and those under other hiring authorities have been removed from their roles or limited in their ability to execute their work.
    • Confirmation that further career civil service, foreign service and USAID contractors will not be removed from their roles without cause or receive stop work orders.
    • Whether, upon full resumption of legally mandated foreign assistance activities, the Administration intends to re-hire contractors who have been removed from their roles.
    • Any additional guidance provided to State and USAID staff regarding the foreign assistance freeze, including confirmation of whether direct hires, contractors, or implementing organizations have been directed not to speak publicly about the foreign assistance freeze.
    • Public identification of the individual currently serving as the Director or Acting Director of the State Department’s Office of Foreign Assistance and as Acting Deputy Administrator of USAID, and the dates upon which this individual was appointed to each position.
    • Confirmation of your understanding that the State Department’s Director of Foreign Assistance has no authority to issue personnel directives for USAID.

    Resumption of Foreign Assistance:

    • The specific process and anticipated timeframe for activities to receive exemptions or waivers, as referenced in your January 28, 2025 directive to State and USAID staff.
    • The mechanisms and metrics established for this waiver process.
    • The timeline for full resumption of legally mandated foreign assistance activities.
    • Clarification of what risk assessment or analysis of potential risk to U.S. national security interests were conducted prior to the decision to freeze foreign assistance activities.
    • Confirmation of the Department of State’s obligation to comply with U.S. contract law and your responsibility as Secretary of State ensure the Department honors its commitments to contracting partners.

    We welcome your urgent attention to these questions. We and our staff stand ready to work with you to ensure U.S. foreign assistance funding continues to be deployed effectively to protect American citizens, at home and abroad.

    Respectfully,

    MIL OSI USA News –

  • MIL-OSI Australia: New Matildas mural officially unveiled at Accor Stadium

    Source: New South Wales Premiere

    Published: 5 February 2025

    Released by: The Premier, Minister for Sport, Minister for Women

    The Minns Labor Government has today unveiled the artist and artwork that will be projected onto Accor Stadium to celebrate the Matildas’ history-making campaign at the 2023 Women’s World Cup.

    This is the first mural in a new series that will commemorate the greatest moments in sport and entertainment at Australia’s home of major events at Accor Stadium, which is celebrating 25 years since the 2000 Sydney Olympic and Paralympic Games.

    In their first World Cup on home soil, the Matildas progressed through to the semi-final smashing all records in the process across crowds, TV viewership and inspiring a new generation with rapidly increasing participation rates.

    Artist Kirthana Selvaraj has painted a striking artwork that captures the key players who inspired a nation. The artwork will be transformed into a 57-metre-long immersive mural that extends across the exterior of Accor Stadium’s Cathy Freeman Stand.

    Matildas captain Sam Kerr’s wonder strike and celebration against England has been illustrated in the mural, as has Mackenzie Arnold’s brilliance in goals and young star Courtney Vine’s composure to kick the winning penalty goal against France in the quarter-final, among other key moments.

    The public will have an opportunity to view the mural for the first time in April to celebrate the team’s two upcoming Sydney and Newcastle games which have been announced for April 4 (Allianz Stadium) and April 7 (McDonald Jones Stadium).

    Sydney was the main host city of the tournament, with 11 games and more than 600,000 fans hosted across Accor and Allianz stadiums.

    This mural further builds on the Minns Labor Government’s acknowledgement of great female athletes in our sporting venues including through the renaming of Accor Stadium’s eastern grandstand in honour of sporting legend Cathy Freeman OAM.

    Premier of New South Wales Chris Minns said:

    “It’s long overdue that our nation’s inspirational female athletes are provided with recognition of some of the greatest sporting achievements in our nation’s history.

    “The Matildas captivated the nation like never before smashing all kinds of records and inspiring a new generation of sports stars, participants and fans.

    “Their game-changing tournament will be perfectly honoured with this mural which will be fittingly projected onto the exterior of the Cathy Freeman Stand – the first grandstand in a major Australian stadium to be named after a female athlete.”

    Minister for Sport Steve Kamper said:

    “The saying goes, you can’t be what you can’t see. It’s fair to say the Matildas World Cup campaign opened the eyes of a generation.

    “The Matildas effect is still being felt today with more girls and women playing the game thanks to the team’s achievement at the Women’s World Cup.

    “This mural will forever celebrate the success of the Matildas who inspired us all.”

    Minister for Women Jodie Harrison said:

    “The Matildas are one of our most admired national sporting teams and have inspired a whole generation of women and girls to participate in sports and dream big.

    “This mural is a great way to immortalise an incredible sporting moment, as well as public recognition of women’s sporting achievements.

    “It also symbolises the NSW government’s ongoing commitment to recognising and empowering women and girls to have full access to opportunity and choice, and excel in the world of sport.”

    Artist Kirthana Selvaraj said:

    “It has been an honour to create this painting commemorating the Matildas during the 2023 FIFA Women’s World Cup.

    “Women in sport have always been a vital part of the game’s history, and this work is a celebration of their enduring legacy.

    “Through this piece, I hoped to capture not only the strength and grace of the Matildas but also the unyielding spirit and unity they inspire in all of us.

    “I hope this artwork stands as a permanent reminder of the impact women have made – and continue to make – not just on the field but in shaping the broader public’s connection to sport. It’s a tribute to the trailblazers who came before, the athletes who shine today, and the young people who will carry their legacy forward.”

    MIL OSI News –

  • MIL-OSI: Landmark Bancorp, Inc. Announces 6.3% Increase in Net Earnings for the Year Ended December 31, 2024, and Fourth Quarter Earnings Per Share of $0.57. Declares Cash Dividend of $0.21 per Share

    Source: GlobeNewswire (MIL-OSI)

    Manhattan, KS, Feb. 04, 2025 (GLOBE NEWSWIRE) — Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.57 for the three months ended December 31, 2024, compared to $0.68 per share in the third quarter of 2024 and $0.46 per share in the same quarter last year. Net income for the fourth quarter totaled $3.3 million, compared to $2.6 million in the fourth quarter of 2023 and $3.9 million in the prior quarter. For the three months ended December 31, 2024, the return on average assets was 0.83%, the return on average equity was 9.54% and the efficiency ratio was 70.0%.

    For the year ended December 31, 2024, diluted earnings per share totaled $2.26 compared to $2.13 during 2023. Net earnings for 2024 totaled $13.0 million, compared to $12.2 million in 2023, or an increase of 6.3%. For the year ended December 31, 2024, the return on average assets was 0.83%, the return on average equity was 10.01% and the efficiency ratio was 69.1%.

    2024 Performance Highlights

      ● Fourth quarter loan growth totaled $50.5 million or an annualized increase of 20.1% over the prior quarter.
      ● For the year, gross loans grew $103.7 million or 10.9%.
      ● Net interest margin improved 21 basis points to 3.51% compared to 3.30% in prior quarter.
      ● Deposits increased $53.3 million, or 16.6% annualized, from the prior quarter.
      ● Total borrowings decreased $34.7 million in the fourth quarter.
      ● A pre-tax loss of $1.0 million was realized in the fourth quarter to reposition a portion of the investment portfolio.
      ● Credit quality remained good with net charge-offs totaling $219,000 in the fourth quarter.
         

    In making this announcement, Abby Wendel, President and Chief Executive Officer of Landmark, commented, “During 2024, we experienced strong loan demand, especially for residential mortgages and commercial real estate loans. In the fourth quarter 2024, we saw strong growth in virtually all loan categories, with total gross loans increasing by $51 million or 20% (annualized). Total deposits also increased in the fourth quarter by more than $53 million, mostly due to seasonal growth in money market and interest checking accounts. The increase in deposits coupled with investment securities sales and maturities this quarter helped fund loan growth and reduce expensive short-term borrowings. For the year, net interest income grew 5.6% over the previous year while in the fourth quarter 2024 our net interest margin improved to 3.51%. Strategic investments in our people and product offerings resulted in higher non-interest expenses, particularly in the fourth quarter. Credit quality remained solid overall.”

    Landmark’s Board of Directors declared a cash dividend of $0.21 per share, to be paid March 5, 2025, to common stockholders of record as of the close of business on February 19, 2025. On December 16, 2024, the Company issued a 5% stock dividend to common stockholders, representing the 24th consecutive year that a stock dividend has been paid.

    Management will host a conference call to discuss the Company’s financial results at 10:00 a.m. (Central time) on Wednesday, February 5, 2025. Investors may participate via telephone by dialing (833) 470-1428 and using access code 296482. A replay of the call will be available through February 12, 2025, by dialing (866) 813-9403 and using access code 817329.

    Net Interest Income

    Net interest income in the fourth quarter of 2024 amounted to $12.4 million representing an increase of $795,000, or 6.9%, compared to the previous quarter. The increase in net interest income was due mainly to lower interest expense on deposits and other borrowed funds. The net interest margin increased to 3.51% during the fourth quarter from 3.30% during the prior quarter. Compared to the previous quarter, interest income on loans increased $22,000 to $16.0 million due to higher average balances but partially offset by lower yields on loans. Average loan balances increased $24.5 million while the average tax-equivalent yield on the loan portfolio decreased 15 basis points to 6.28%. Interest on investment securities declined slightly due to lower balances while partially offset by higher earning rates. Compared to the third quarter 2024, interest on deposits decreased $480,000, or 8.2% mainly due to lower rates, while interest on other borrowed funds declined by $363,000, due to lower rates and balances. The average rate on interest-bearing deposits decreased 23 basis points to 2.25% while the average rate on other borrowed funds decreased 51 basis points to 5.10% in the fourth quarter.

    Non-Interest Income

    Non-interest income totaled $3.4 million for the fourth quarter of 2024, a decrease of $882,000 from the previous quarter. The decrease in non-interest income during the fourth quarter of 2024 was primarily due to a $1.0 million loss on the sales of lower yielding investment securities mentioned above, while the third quarter of 2024 did not include any sales of investment securities. Additionally, lower sales of residential mortgages this quarter resulted in a decline of $182,000 in gains on sales of these mortgages. The decline in other non-interest income of $221,000 this quarter compared to the prior quarter resulted from sales of premises, equipment and foreclosed assets that did not re-occur in the current quarter. Partially offsetting those declines was an increase of $722,000 in bank owned life insurance income.

    Non-Interest Expense

    During the fourth quarter of 2024, non-interest expense totaled $11.9 million, an increase of $1.3 million compared to the prior quarter. The increase in non-interest expense was primarily due to increases of $470,000 in professional fees and $461,000 in compensation and benefits. The increase in professional fees this quarter was primarily due to higher consulting costs on several initiatives. The increase in compensation and benefits was attributable to an increase in employees and higher incentive compensation costs.

    Income Tax Expense (Benefit)

    Landmark recorded an income tax benefit of $886,000 in the fourth quarter of 2024 compared to income tax expense of $867,000 in the prior quarter. The effective tax rate was (37.0%) in the fourth quarter of 2024 compared to 18.1% in the third quarter of 2024. The fourth quarter of 2024 included the recognition of $1.0 million of previously unrecognized tax benefits, which reduced the effective tax rate.

    Balance Sheet Highlights

    As of December 31, 2024, gross loans totaled $1.1 billion, an increase of $50.5 million, or 20.1% annualized since September 30, 2024. During the quarter, loan growth was primarily comprised of commercial real estate (growth of $21.1 million), commercial (growth of $10.7 million), agriculture (growth of $8.6 million) and one-to-four family residential real estate (growth of $7.8 million) loans. Investment securities decreased $38.5 million during the fourth quarter of 2024 and included sales of $36.0 million in low-rate U.S. treasury securities offset by purchases of $18.0 million in market rate U.S. treasury securities. Pre-tax unrealized net losses on the investment securities portfolio increased from $13.3 million at September 30, 2024 to $20.9 million at December 31, 2024 mainly due to higher market rates for these securities at year end.

    Period end deposit balances increased $53.3 million to $1.3 billion at December 31, 2024. The increase in deposits was mainly driven by an increase in money market and checking (increase of $71.3 million) but partially offset by declines in certificates of deposit (decrease of $9.2 million) and non-interest-bearing demand deposits (decrease of $8.6 million). The increase in money market and checking accounts was mainly driven by seasonal growth in public fund deposit account balances. Total borrowings decreased $34.7 million during the fourth quarter 2024. At December 31, 2024, the loan to deposits ratio was 78.2% compared to 77.6% in the prior quarter.

    Stockholders’ equity decreased to $136.2 million (book value of $23.59 per share) as of December 31, 2024, from $139.7 million (book value of $24.18 per share) as of September 30, 2024. The decrease in stockholders’ equity was due to an increase in accumulated other comprehensive losses as the unrealized net losses on investments securities increased during the fourth quarter. The ratio of equity to total assets decreased to 8.65% on December 31, 2024, from 8.93% on September 30, 2024.

    The allowance for credit losses totaled $12.8 million, or 1.22% of total gross loans on December 31, 2024, compared to $11.5 million, or 1.15% of total gross loans on September 30, 2024. Net loan charge-offs totaled $219,000 in the fourth quarter of 2024, compared to $9,000 during the third quarter of 2024. A provision for credit losses for loans of $1.5 million was recorded in the fourth quarter of 2024 compared to $650,000 in the third quarter of 2024.

    Non-performing loans totaled $13.1 million, or 1.25% of gross loans at December 31, 2024 compared to $13.4 million, or 1.34% of gross loans at September 30, 2024. Loans 30-89 days delinquent declined to $6.2 million, or 0.59% of gross loans, as of December 31, 2024, compared to $7.3 million, or 0.73% of gross loans, as of September 30, 2024.

    About Landmark

    Landmark Bancorp, Inc., the holding company for Landmark National Bank, is listed on the Nasdaq Global Market under the symbol “LARK.” Headquartered in Manhattan, Kansas, Landmark National Bank is a community banking organization dedicated to providing quality financial and banking services. Landmark National Bank has 29 locations in 23 communities across Kansas: Manhattan (2), Auburn, Dodge City (2), Fort Scott (2), Garden City, Great Bend (2), Hoisington, Iola, Junction City, La Crosse, Lawrence (2), Lenexa, Louisburg, Mound City, Osage City, Osawatomie, Overland Park, Paola, Pittsburg, Prairie Village, Topeka (2), Wamego and Wellsville, Kansas. Visit www.banklandmark.com for more information.

    Contact:
    Mark A. Herpich
    Chief Financial Officer
    (785) 565-2000

    Special Note Concerning Forward-Looking Statements

    This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of Landmark. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. Additionally, all statements in this press release, including forward-looking statements, speak only as of the date they are made, and Landmark undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond our ability to control or predict, could cause actual results to differ materially from those in our forward-looking statements. These factors include, among others, the following: (i) the strength of the local, national and international economies, including the effects of changing inflationary pressures and supply chain constraints on such economies; (ii) changes in state and federal laws, regulations and governmental policies concerning banking, securities, consumer protection, insurance, monetary, trade and tax matters, including changes in interpretation or prioritization; (iii) changes in interest rates and prepayment rates of our assets; (iv) increased competition in the financial services sector and the inability to attract new customers, including from non-bank competitors such as credit unions and “fintech” companies; (v) timely development and acceptance of new products and services; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (vii) our risk management framework; (viii) interruptions in information technology and telecommunications systems and third-party services; (ix) changes and uncertainty in benchmark interest rates, including the timing of additional rate changes, if any, by the Federal Reserve; (x) the economic effects of severe weather, natural disasters, widespread disease or pandemics, or other external events; (xi) the loss of key executives or employees; (xii) changes in consumer spending; (xiii) integration of acquired businesses; (xiv) unexpected outcomes of existing or new litigation; (xv) changes in accounting policies and practices, such as the implementation of the current expected credit losses accounting standard; (xvi) the economic impact of past and any future terrorist attacks, acts of war, including the current Israeli-Palestinian conflict and the conflict in Ukraine, or threats thereof, and the response of the United States to any such threats and attacks; (xvii) the ability to manage credit risk, forecast loan losses and maintain an adequate allowance for loan losses; (xviii) fluctuations in the value of securities held in our securities portfolio; (xix) concentrations within our loan portfolio, large loans to certain borrowers, and large deposits from certain clients; (xx) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and may withdraw deposits to diversify their exposure; (xxi) the level of non-performing assets on our balance sheets; (xxii) the ability to raise additional capital; (xxiii) cyber-attacks; (xxiv) declines in real estate values; (xxv) the effects of fraud on the part of our employees, customers, vendors or counterparties; and (xxvi) any other risks described in the “Risk Factors” sections of reports filed by Landmark with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. Additional information concerning Landmark and its business, including additional risk factors that could materially affect Landmark’s financial results, is included in our filings with the Securities and Exchange Commission.

    LANDMARK BANCORP, INC. AND SUBSIDIARIES
    Consolidated Balance Sheets (unaudited)

        December 31,     September 30,     June 30,     March 31,     December 31,  
    (Dollars in thousands)   2024     2024     2024     2024     2023  
    Assets                                        
    Cash and cash equivalents   $ 20,275     $ 21,211     $ 23,889     $ 16,468     $ 27,101  
    Interest-bearing deposits at other banks     4,110       4,363       4,881       4,920       4,918  
    Investment securities available-for-sale, at fair value:                                        
    U.S. treasury securities     64,458       83,753       89,325       93,683       95,667  
    Municipal obligations, tax exempt     107,128       112,126       114,047       118,445       120,623  
    Municipal obligations, taxable     71,715       75,129       74,588       75,371       79,083  
    Agency mortgage-backed securities     129,211       140,004       142,499       149,777       157,396  
    Total investment securities available-for-sale     372,512       411,012       420,459       437,276       452,769  
    Investment securities held-to-maturity     3,672       3,643       3,613       3,584       3,555  
    Bank stocks, at cost     6,618       7,894       9,647       7,850       8,123  
    Loans:                                        
    One-to-four family residential real estate     352,209       344,380       332,090       312,833       302,544  
    Construction and land     25,328       23,454       30,480       24,823       21,090  
    Commercial real estate     345,159       324,016       318,850       323,397       320,962  
    Commercial     192,325       181,652       178,876       181,945       180,942  
    Agriculture     100,562       91,986       84,523       86,808       89,680  
    Municipal     7,091       7,098       6,556       5,690       4,507  
    Consumer     29,679       29,263       29,200       28,544       28,931  
    Total gross loans     1,052,353       1,001,849       980,575       964,040       948,656  
    Net deferred loan (fees) costs and loans in process     (307 )     (63 )     (583 )     (578 )     (429 )
    Allowance for credit losses     (12,825 )     (11,544 )     (10,903 )     (10,851 )     (10,608 )
    Loans, net     1,039,221       990,242       969,089       952,611       937,619  
    Loans held for sale, at fair value     3,420       3,250       2,513       2,697       853  
    Bank owned life insurance     39,056       39,176       38,826       38,578       38,333  
    Premises and equipment, net     20,220       20,976       20,986       20,696       19,709  
    Goodwill     32,377       32,377       32,377       32,377       32,377  
    Other intangible assets, net     2,578       2,729       2,900       3,071       3,241  
    Mortgage servicing rights     3,061       3,041       2,997       2,977       3,158  
    Real estate owned, net     167       428       428       428       928  
    Other assets     26,855       23,309       28,149       29,684       28,988  
    Total assets   $ 1,574,142     $ 1,563,651     $ 1,560,754     $ 1,553,217     $ 1,561,672  
                                             
    Liabilities and Stockholders’ Equity                                        
    Liabilities:                                        
    Deposits:                                        
    Non-interest-bearing demand     351,595       360,188       360,631       364,386       367,103  
    Money market and checking     636,963       565,629       546,385       583,315       613,613  
    Savings     145,514       145,825       150,996       154,000       152,381  
    Certificates of deposit     194,694       203,860       192,470       191,823       183,154  
    Total deposits     1,328,766       1,275,502       1,250,482       1,293,524       1,316,251  
    FHLB and other borrowings     53,046       92,050       131,330       74,716       64,662  
    Subordinated debentures     21,651       21,651       21,651       21,651       21,651  
    Repurchase agreements     13,808       9,528       8,745       15,895       12,714  
    Accrued interest and other liabilities     20,656       25,229       20,292       20,760       19,480  
    Total liabilities     1,437,927       1,423,960       1,432,500       1,426,546       1,434,758  
    Stockholders’ equity:                                        
    Common stock     58       55       55       55       55  
    Additional paid-in capital     95,051       89,532       89,469       89,364       89,208  
    Retained earnings     56,934       60,549       57,774       55,912       54,282  
    Treasury stock, at cost     –       (396 )     (330 )     (249 )     (75 )
    Accumulated other comprehensive loss     (15,828 )     (10,049 )     (18,714 )     (18,411 )     (16,556 )
    Total stockholders’ equity     136,215       139,691       128,254       126,671       126,914  
    Total liabilities and stockholders’ equity   $ 1,574,142     $ 1,563,651     $ 1,560,754     $ 1,553,217     $ 1,561,672  


    LANDMARK BANCORP, INC. AND SUBSIDIARIES
    Consolidated Statements of Earnings (unaudited)

        Three months ended,     Year ended,  
        December 31,     September 30,     December 31,     December 31,     December 31,  
    (Dollars in thousands, except per share amounts)   2024     2024     2023     2024     2023  
    Interest income:                                        
    Loans   $ 15,955     $ 15,933     $ 14,223     $ 61,400     $ 51,753  
    Investment securities:                                        
    Taxable     2,210       2,301       2,453       9,298       9,594  
    Tax-exempt     738       747       761       3,008       3,094  
    Interest-bearing deposits at banks     49       41       49       193       242  
    Total interest income     18,952       19,022       17,486       73,899       64,683  
    Interest expense:                                        
    Deposits     5,350       5,830       4,879       22,310       15,254  
    FHLB and other borrowings     737       1,100       1,203       3,886       4,048  
    Subordinated debentures     389       416       422       1,635       1,590  
    Repurchase agreements     77       72       96       344       499  
    Total interest expense     6,553       7,418       6,600       28,175       21,391  
    Net interest income     12,399       11,604       10,886       45,724       43,292  
    Provision for credit losses     1,500       500       50       2,300       349  
    Net interest income after provision for credit losses     10,899       11,104       10,836       43,424       42,943  
    Non-interest income:                                        
    Fees and service charges     2,710       2,880       2,763       10,742       10,220  
    Gains on sales of loans, net     522       704       255       2,386       2,269  
    Bank owned life insurance     976       254       242       1,723       913  
    Losses on sales of investment securities, net     (1,031 )     –       (1,246 )     (1,031 )     (1,246 )
    Other     194       415       240       924       1,074  
    Total non-interest income     3,371       4,253       2,254       14,744       13,230  
    Non-interest expense:                                        
    Compensation and benefits     6,264       5,803       5,756       23,103       22,681  
    Occupancy and equipment     1,550       1,429       1,429       5,663       5,565  
    Data processing     452       464       462       1,889       1,940  
    Amortization of mortgage servicing rights and other intangibles     240       256       437       1,164       1,844  
    Professional fees     1,043       573       730       2,912       2,452  
    Valuation allowance on real estate held for sale     –       –       –       1,108       –  
    Other     2,325       2,034       1,748       8,240       7,501  
    Total non-interest expense     11,874       10,559       10,562       44,079       41,983  
    Earnings before income taxes     2,396       4,798       2,528       14,089       14,190  
    Income tax expense (benefit)     (886 )     867       (111 )     1,086       1,954  
    Net earnings   $ 3,282     $ 3,931     $ 2,639     $ 13,003     $ 12,236  
                                             
    Net earnings per share (1)                                        
    Basic   $ 0.57     $ 0.68     $ 0.46     $ 2.26     $ 2.13  
    Diluted     0.57       0.68       0.46       2.26       2.13  
    Dividends per share (1)     0.20       0.20       0.19       0.80       0.76  
    Shares outstanding at end of period (1)     5,775,198       5,776,282       5,751,475       5,775,198       5,751,475  
    Weighted average common shares outstanding – basic (1)     5,775,227       5,765,348       5,755,175       5,758,056       5,751,585  
    Weighted average common shares outstanding – diluted (1)     5,789,764       5,770,514       5,755,175       5,764,282       5,754,840  
                                             
    Tax equivalent net interest income   $ 12,574     $ 11,777     $ 11,017     $ 46,428     $ 44,040  
    (1 ) Share and per share values at or for the periods ended September 30, 2024 and December 31, 2024 have been adjusted to give effect to the 5% stock dividend paid during December 2024.
         

    LANDMARK BANCORP, INC. AND SUBSIDIARIES
    Select Ratios and Other Data (unaudited)

        As of or for the three months ended,     As of or for the year ended,  
        December 31,     September 30,     December 31,     December 31,     December 31,  
    (Dollars in thousands, except per share amounts)   2024     2024     2023     2024     2023  
    Performance ratios:                                        
    Return on average assets (1)     0.83 %     1.01 %     0.67 %     0.83 %     0.80 %
    Return on average equity (1)     9.54 %     11.95 %     9.39 %     10.01 %     10.70 %
    Net interest margin (1)(2)     3.51 %     3.30 %     3.11 %     3.28 %     3.17 %
    Effective tax rate     -37.0 %     18.1 %     -4.4 %     7.7 %     13.8 %
    Efficiency ratio (3)     70.0 %     66.5 %     71.9 %     69.1 %     71.2 %
    Non-interest income to total income (3)     25.9 %     25.5 %     24.3 %     25.3 %     25.1 %
                                             
    Average balances:                                        
    Investment securities   $ 409,648     $ 428,301     $ 463,763     $ 432,928     $ 486,268  
    Loans     1,010,153       985,659       934,333       974,293       891,487  
    Assets     1,568,821       1,562,482       1,555,742       1,558,236       1,535,694  
    Interest-bearing deposits     944,969       936,218       910,610       938,223       892,373  
    FHLB and other borrowings     57,507       77,958       84,408       70,226       74,210  
    Subordinated debentures     21,651       21,651       21,651       21,651       21,651  
    Repurchase agreements     12,212       10,774       13,785       12,216       18,361  
    Stockholders’ equity   $ 136,933     $ 132,271     $ 111,560     $ 129,944     $ 114,339  
                                             
    Average tax equivalent yield/cost (1):                                        
    Investment securities     3.03 %     2.99 %     2.86 %     3.00 %     2.76 %
    Loans     6.28 %     6.43 %     6.04 %     6.30 %     5.81 %
    Total interest-bearing assets     5.34 %     5.38 %     4.97 %     5.28 %     4.71 %
    Interest-bearing deposits     2.25 %     2.48 %     2.13 %     2.38 %     1.71 %
    FHLB and other borrowings     5.10 %     5.61 %     5.65 %     5.53 %     5.45 %
    Subordinated debentures     7.15 %     7.64 %     7.73 %     7.55 %     7.34 %
    Repurchase agreements     2.51 %     2.66 %     2.79 %     2.82 %     2.72 %
    Total interest-bearing liabilities     2.52 %     2.82 %     2.54 %     2.70 %     2.13 %
                                             
    Capital ratios:                                        
    Equity to total assets     8.65 %     8.93 %     8.13 %                
    Tangible equity to tangible assets (3)     6.58 %     6.84 %     5.98 %                
    Book value per share   $ 23.59     $ 24.18     $ 22.07                  
    Tangible book value per share (3)   $ 17.53     $ 18.11     $ 15.87                  
                                             
    Rollforward of allowance for credit losses (loans):                                        
    Beginning balance   $ 11,544     $ 10,903     $ 10,970     $ 10,608     $ 8,791  
    Adoption of CECL     –       –       –       –       1,523  
    Charge-offs     (246 )     (153 )     (442 )     (659 )     (850 )
    Recoveries     27       144       80       476       894  
    Provision for credit losses for loans     1,500       650       –       2,400       250  
    Ending balance   $ 12,825     $ 11,544     $ 10,608     $ 12,825     $ 10,608  
                                             
    Allowance for unfunded loan commitments   $ 150     $ 300     $ 200                  
                                             
    Non-performing assets:                                        
    Non-accrual loans   $ 13,115     $ 13,415     $ 2,391                  
    Accruing loans over 90 days past due     –       –       –                  
    Real estate owned     167       428       928                  
    Total non-performing assets   $ 13,282     $ 13,843     $ 3,319                  
                                             
    Loans 30-89 days delinquent   $ 6,201     $ 7,301     $ 1,582                  
                                             
    Other ratios:                                        
    Loans to deposits     78.21 %     77.64 %     71.23 %                
    Loans 30-89 days delinquent and still accruing to gross loans outstanding     0.59 %     0.73 %     0.17 %                
    Total non-performing loans to gross loans outstanding     1.25 %     1.34 %     0.25 %                
    Total non-performing assets to total assets     0.84 %     0.89 %     0.21 %                
    Allowance for credit losses to gross loans outstanding     1.22 %     1.15 %     1.12 %                
    Allowance for credit losses to total non-performing loans     97.79 %     86.05 %     443.66 %                
    Net loan charge-offs to average loans (1)     0.09 %     0.00 %     0.15 %     0.03 %     -0.01 %
    (1 ) Information is annualized.
    (2 ) Net interest margin is presented on a fully tax equivalent basis, using a 21% federal tax rate.
    (3 ) Non-GAAP financial measures. See the “Non-GAAP Financial Measures” section of this press release for a reconciliation to the most comparable GAAP equivalent.
         

    LANDMARK BANCORP, INC. AND SUBSIDIARIES
    Non-GAAP Finacials Measures (unaudited)

        As of or for the three months ended,     As of or for the year ended,  
        December 31,     September 30,     December 31,     December 31,     December 31,  
    (Dollars in thousands, except per share amounts)   2024     2024     2023     2024     2023  
                                   
    Non-GAAP financial ratio reconciliation:                                        
    Total non-interest expense   $ 11,874     $ 10,559     $ 10,562     $ 44,079     $ 41,983  
    Less: foreclosure and real estate owned expense     (13 )     (23 )     (40 )     (47 )     (61 )
    Less: amortization of other intangibles     (151 )     (171 )     (174 )     (663 )     (765 )
    Less: valuation allowance on real estate held for sale     –       –       –       (1,108 )     –  
    Adjusted non-interest expense (A)     11,710       10,365       10,348       42,261       41,157  
                                             
    Net interest income (B)     12,399       11,604       10,886       45,724       43,292  
                                             
    Non-interest income     3,371       4,253       2,254       14,744       13,230  
    Less: losses on sales of investment securities, net     1,031       –       1,246       1,031       1,246  
    Less: gains on sales of premises and equipment and foreclosed assets     (62 )     (273 )     –       (326 )     (1 )
    Adjusted non-interest income (C)   $ 4,340     $ 3,980     $ 3,500     $ 15,449     $ 14,475  
                                             
    Efficiency ratio (A/(B+C))     70.0 %     66.5 %     71.9 %     69.1 %     71.2 %
    Non-interest income to total income (C/(B+C))     25.9 %     25.5 %     24.3 %     25.3 %     25.1 %
                                             
    Total stockholders’ equity   $ 136,215     $ 139,691     $ 126,914                  
    Less: goodwill and other intangible assets     (34,955 )     (35,106 )     (35,618 )                
    Tangible equity (D)   $ 101,260     $ 104,585     $ 91,296                  
                                             
    Total assets   $ 1,574,142     $ 1,563,651     $ 1,561,672                  
    Less: goodwill and other intangible assets     (34,955 )     (35,106 )     (35,618 )                
    Tangible assets (E)   $ 1,539,187     $ 1,528,545     $ 1,526,054                  
                                             
    Tangible equity to tangible assets (D/E)     6.58 %     6.84 %     5.98 %                
                                             
    Shares outstanding at end of period (F)     5,775,198       5,776,282       5,751,475                  
                                             
    Tangible book value per share (D/F)   $ 17.53     $ 18.11     $ 15.87                  

    The MIL Network –

  • MIL-Evening Report: It’s the most American of sports, so why is the NFL looking to Melbourne for international games?

    Source: The Conversation (Au and NZ) – By Tim Harcourt, Industry Professor and Chief Economist, University of Technology Sydney

    Melbourne’s status as the sporting capital of Australia is well-established: the Victorian city hosts annual events such as the Australian Open tennis tournament, the Formula 1 Grand Prix, Melbourne Cup horseracing carnival, Boxing Day cricket Test and more.

    Now the United States’ National Football League (NFL) is set to join the party.

    In May last year, the NFL earmarked Australia as a future host for an international game.

    Now it has been reported the NFL is set to lock-in three regular season games in Melbourne at the MCG, starting in October 2026, just after the Australian Football League (AFL) Grand Final.

    The teams set to feature in the first game are 2022 Super Bowl winners the Los Angeles Rams and the Philadelphia Eagles. The Eagles will play in next week’s Super Bowl and feature an Australian, Jordan Mailata, on their team.

    The Rams and the Eagles both have international marketing rights to Australia – giving the clubs an opportunity to build brand awareness and fandom beyond the US through fan engagement, events and commercial opportunities.

    What’s in it for Victoria?

    The NFL contests would pour millions of dollars into the Victorian economy; each team would travel with hundreds of staff, while thousands of fans would likely travel from interstate and overseas.

    The Victorian government has not revealed any revenue estimates but last year’s Super Bowl week in Las Vegas generated more than $US1 billion ($A1.61 billion) in economic impact.

    Given the NFL’s love of razzmatazz, it would likely host a week-long procession of activities and fan zones across the city before almost certainly filling the MCG with 100,000 spectators.

    However, the choice of the MCG as a venue was not without controversy.

    The MCG boasts the biggest capacity of any stadium in Australia, but it is an oval shape, not rectangular, which makes the viewing experience more difficult when it hosts sports such as soccer, rugby – or NFL.

    Critics have suggested Accor Stadium in Sydney’s west or Suncorp Stadium in Brisbane (both rectangular venues) would be better for these games.

    What’s in it for the NFL?

    The NFL has broadened its international presence during the past decade or so, and now hosts eight games internationally each season.

    But why did NFL decide on Australia to join the likes of England, Germany, Spain, Brazil and Mexico?

    It chose places with strong sports consumer marketplaces, where streaming is popular and destinations where US fans are likely to travel to.

    Australia, while not as popular as in the days of Paul Hogan, is still a popular destination for many Americans, especially those who like sports.

    American football is far from a dominant sports code in Australia but is still a significant global market for the NFL, with an estimated fan base of more than six million supporters across the country.

    But principally, it’s about the money.

    The NFL’s media broadcast deal is one of, if not the, most lucrative in world sports: the TV and streaming media rights are said to be worth more than $US100 billion ($A161 billion).

    Analysts estimate the NFL’s international games will collectively add $US1 billion ($A1.61 billion) to the league’s TV rights.

    This has helped the NFL build a huge global audience, which Commissioner Roger Goodell has said is a key strategy:

    The media platforms are essential – we want to reach the most people we can through our media partners, because that’s how most people experience football. But when we bring games (to international markets), it is […] the spark that lights the flame. Playing the games is a big part of making our game global.

    The NFL is also looking to Australia for future athletic talent.

    In recent years, NFL and college football teams have regularly recruited Australian athletes as punters (specialist kickers), who grew up kicking balls and can transfer their skills to the American game.

    The NFL also recently set up a talent academy on the Gold Coast to encourage talented youngsters from Australia, New Zealand and the Pacific to pursue their NFL dream.

    What fans can expect

    Melbourne is not Las Vegas, but even so, if confirmed, the games will deliver some old-fashioned American showbiz to the state.

    The MCG will likely be packed with fans (both hardcore and casual) for the contest, and of course the sport’s famous half-time shows.

    And then there’s the athletic brilliance of the players: the game is considered by some to be as intellectual as chess but with enormous physical prowess required. The chance to see these massive athletes up close will no doubt be a huge drawcard.

    NFL fans in Australia – and very likely New Zealand, the Pacific and even further abroad – will no doubt be waiting with bated breath for the league to confirm the games, and then try to find a way to secure sought-after tickets.

    Tim Harcourt supports both the Green Bay Packers to keep his Wisconsin in laws happy and the Minnesota Vikings as he once lived in Minneapolis.

    – ref. It’s the most American of sports, so why is the NFL looking to Melbourne for international games? – https://theconversation.com/its-the-most-american-of-sports-so-why-is-the-nfl-looking-to-melbourne-for-international-games-248870

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: New robots lead the way in bomb disposal innovation

    Source: United Kingdom – Executive Government & Departments

    Cutting-edge trial featured robotic canines defusing bombs. This new technology is set to reduce risk to personnel working on bomb disposals.

    Image of bomb disposal robot.

    Robot dogs that can defuse explosives are set to revolutionise bomb disposal operations and significantly reduce the risk to military personnel, whether operating in the UK or overseas.

    A new live trial led by Ministry of Defence scientists has seen advanced robotic systems, including robot dogs, successfully detecting, and defusing bomb threats. 

    The Defence Science and Technology Laboratory (Dstl) trials took place over four days and included:   

    • Remote classification and identification of threats using sensors on robots;  
    • Defusing of bombs from a robot dog;  
    • Drones with AI autonomous threat and people detection;   
    • And robots conducting tasks such as opening doors and climbing stairs.  

    The trial supports key components of the UK Government’s Plan for Change, safeguarding national security whilst rapidly advancing new technologies – showing defence as an engine for growth.  

    Dstl worked alongside British and international industry, L3Harris, Marlborough Communications Ltd and AeroVironment (Tomahawk Robotics) on the trials which showed that they could enhance Explosive Ordnance Disposal (EOD) capability by:  

    • Reducing the need to put a bomb disposal operator in harm’s way by increasing the number of tasks that robots can perform remotely;  
    • Improving the effectiveness of robots, reducing the burden to the operator, allowing delicate and precision movements to be completed reliably; 
    • Using drones equipped with AI to identify threats and monitor safety cordons, increasing the pace of operations and reducing disruption to the public.  

    The trials involved a series of scenarios, where the robot was asked to perform various tasks including opening and closing doors autonomously, navigating stairs, inspecting improvised explosive devices (IEDs) and consequently firing disruptors at the IEDs to render them safe. 

    These innovations will transform EOD operations by minimising the human exposure to danger, improving operational efficiency and maintaining public safety.  

    Minister for Defence Procurement and Industry, Maria Eagle, said:

    This advanced technology demonstrates our commitment to protecting the military personnel who keep our nation safe, at home and abroad.   

    By working with industry and combining cutting-edge robotics with existing expertise, we’re ensuring our bomb disposal teams have the best possible tools to carry out their vital work safely and effectively.

    These advancements help the government deliver our Plan for Change and ensure defence is an engine for growth – protecting our national security while supporting rapidly evolving technologies.

    Bomb disposal operators praised the technology demonstrated in the trial and provided beneficial feedback to shape the next phase of Dstl investment in robotics for the bomb disposal community. Dstl will use this feedback to continue to develop and enhance technology that provides increased security for the nation.  

    Chief Science and Technology Officer, Dstl, Prof Andy Bell, said:  

    This is a great example of how Defence can achieve an advantage through the exploitation of technology, fusing together military and commercial systems to keep our people and country safe from deadly threats. 

    Working in partnership with industry and academia, Dstl is delivering mission success through science and technology advantage.

    Updates to this page

    Published 5 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Birmingham scores transformative investment into new Sports Quarter

    Source: United Kingdom – Executive Government & Departments

    US company Knighthead have invested £100m to build new Sports Quarter in East Birmingham.

    • Following on from the Chancellors plans to go ‘further, faster on growth’ US company Knighthead has invested £100m in regeneration project in East Birmingham.
    • The Sports Quarter project will include a 60,000-seat stadium, sporting facilities and commercial and residential spaces, creating 8,400 new jobs and driving further investment.
    • Announcement is the latest in a series of job-boosting investments across the country showing the Plan for Change is working.

    US company Knighthead has invested £100 million into East Birmingham, showing how the Government’s Plan for Change is boosting jobs and opportunities in the West Midlands.

    The new site is estimated to create 8,400 new jobs annually in Birmingham while also supporting the wider city and West Midlands. The investment will pave the way for a new 60,000-seater stadium alongside a sports campus of training facilities, a new academy, and community pitches. Beyond sport, the campus plans also include leisure, commercial, and residential development.

    Business Secretary Jonathan Reynolds will visit the site and learn about how the new Sports Quarter and surrounding area is projected to provide £370 million in growth each year.  

    Securing investment is central to the government’s mission to deliver economic growth which will create jobs, improve living standards, and make communities and families across the country better off as part of our Plan for Change.

    Business and Trade Secretary Jonathan Reynolds said:

    The West Midlands is a powerhouse for investment, and this project will not only play a vital role in bringing thousands of new jobs into the area but will put more money into the pockets of the local community here in East Birmingham.

    Seeing global investors put billions in the UK economy shows the Plan for Change is working, with more and more companies choosing Britain. This is another vote of confidence in our plans to deliver growth that supports skilled jobs and raises living standards across the country.

    This is the latest in a series of investment projects into the West Midlands, as the region continues to be a powerhouse for investment. The West Midlands attracted over 130 Foreign Direct Investment Projects in 2024, creating 7,581 jobs.

    Unleashing the full potential of the UK’s cities and regions is a core objective of the government’s Industrial Strategy. Facilitating investments like this is central to achieving this goal.

    Secretary of State for Culture, Media and Sport, Lisa Nandy said:

    The Birmingham Sports Quarter is an exciting venture that highlights how sport can be an important driver for regeneration and growth.

    Across the divisions, our professional football clubs are vital community assets at the heart of towns and cities around the country, so it is fantastic to see investment directly benefiting residents of Birmingham and the wider region.

    Investment continues to flow into the UK sports sector on an unprecedented level. The UK is an appealing destination for investors aiming to capitalise on diverse revenue streams and long-term growth prospects.

    The commercial attractiveness of the UK sports sector is underpinned by both legacy and heritage and its position at the cutting edge of innovative subsectors such as sports-tech and women’s sports.

    The Business Secretary’s visit comes after Birmingham City Football Club’s Chairman Tom Wagner’s meeting with Minister for Investment Baroness Gustafsson OBE at One Goal, the government’s annual sports investment conference. The Department for Business and Trade continues to support transformational institutional investment into UK sport and local communities.

    Co-founder of Knighthead & Chairman of Birmingham City Football Club Tom Wagner said:

    Birmingham and the West Midlands have huge untapped potential for growth, and we intend to seize that opportunity. With the support of government, the Sports Quarter can be a catalyst for regeneration, transforming the prospects for people in of one of the poorest parts of the UK and crowding in interest and investment from around the globe.

    Richard Parker, Mayor of the West Midlands, said:

    This investment is a huge vote of confidence in Birmingham and the West Midlands. It was made possible by strong partnerships with Knighthead and others committed to our region’s growth.

    We’ve worked to create the perfect conditions to attract investment, and this will bring thousands of jobs, new opportunities, and a major economic boost.

    Working with Tom Wagner and Knighthead, we’ll unlock our region’s full potential – delivering the Sports Quarter and lasting change for the region.

    The announcement comes after the Chancellor vowed to go further and faster to kickstart economic growth last week, as the government wants to help put more money in people’s pockets.

    The Budget in the Autumn fixed the foundations of the UK’s economy by putting in place measures to support economic and fiscal stability and long-term investment in national infrastructure.

    Securing investment is central to the government’s mission to deliver economic growth which will create jobs, improve living standards, and make communities and families across the country better off as part of our Plan for Change.

    The government’s new modern Industrial Strategy will deliver long-term, sustainable, inclusive growth right across the UK by driving investment into the economy and hardwire stability for investors, giving them the confidence to plan not just for the next year, but for the next 10 years and beyond.

    Notes to editors

    • Today’s announcement comes off the back of Knighthead announcing its £3 billion regeneration project last March and also follows the company’s acquisition of Birmingham City Football Club in 2023.

    Updates to this page

    Published 5 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New reforms to support victims of child sexual abuse

    Source: United Kingdom – Executive Government & Departments

    Victims of child sexual abuse will be better supported with new reforms that prioritise their rights.

    • Three-year limit for compensation claims to be axed – enabling victims to come forward when ready
    • Burden of proof to shift from survivors to defendants – protecting victims from reliving trauma
    • Measures deliver recommendations of Independent Inquiry into Child Sexual Abuse

    The Government is delivering on recommendations from the Independent Inquiry into Child Sexual Abuse (IICSA) to make it easier for victims to gain an apology and to pursue claims in the civil court.

    The three-year time limit for victims to bring personal injury claims will be removed. So will the burden of proof that currently rests on victims’ shoulders, who must prove it is possible to hold a fair trial for one to go ahead. Now, that burden is lifted off victims and placed on defendants, who must show a fair trial cannot proceed if they intend to block one. This will enable cases to be heard more easily, and protect victims from reliving their trauma.

    The Law of the Apologies will also be amended to encourage employers to apologise to people wronged by their employees, where currently they fear doing so because of institutional liability, meaning that victims are likelier to receive apologies from schools, care facilities or hospitals for abuse carried out by an individual at these institutions.

    The Government has listened to victims, survivors and experts through two consultations – and they have said they want action.

    Lord Chancellor Shabana Mahmood said:

    Child sexual abuse causes lifelong trauma and these important changes, recommended by Professor Jay, are long overdue.

    These measures help survivors pursue their path to justice. They build on the Government’s mission of halving violence against women and girls and support our Plan for Change.

    Currently civil child sexual abuse claims must be brought within three years of turning 18, unless the victim can prove a fair trial can proceed despite the time lapse. But as the IICSA heard, a “significant number” of claims are being rejected because it can take “decades for survivors to feel able to discuss their sexual abuse”.

    As a direct result of today’s reforms, all cases brought will proceed unless the defendant proves that a fair hearing cannot take place, for example due to lack of evidence.

    IICSA also heard that in many child sexual abuse cases, an apology by an institution was desired but never delivered, blocking victims’ path to closure.

    Often organisations are reluctant to apologise because of concerns it may be interpreted by individuals such as insurers, as an admission of fault. The Government will clarify, as per the IICSA recommendation, that apologies could and should be offered by employers for the actions of current or former employees.

    Justice Minister Sarah Sackman KC said:

    The courts must work for the public they serve – and we recognise that victims and survivors need time to process their trauma.

    By changing the law, it will now be possible for victims to come forward, and seek justice, when they feel ready to do so.

    The Independent Inquiry into Child Sexual Abuse heard the powerful testimonies of more than 7,000 victims and made 20 final recommendations.

    The measures announced today build on action already taken across government to respond to horrific child sexual abuse crimes, including providing £10 million to drive change at a local level to protect children across the country from grooming gangs, and a suite of legislative measures to tackle online child sexual abuse, including two world leading measures on AI-generated child sexual abuse material. These measures form part of our commitment – underscored by our Plan for Change – to halve violence against women and girls this decade.

    Legislation will also be brought forward to make grooming an aggravating factor in the sentencing of child sexual offences, and introduce a new Mandatory Reporting duty, in the Crime and Policing Bill to be put before Parliament this Spring. A new offence will also be created so anyone covering up child sexual abuse will face criminal sanctions.

    Changes to the Law of Apologies and Limitation Law, follow two Government consultations in 2024.

    Gabrielle Shaw, Chief Executive of the National Association for People Abused in Childhood (NAPAC), said:

    This is a watershed moment for survivors of child sexual abuse. These reforms recognise the long-term impact of trauma and ensure survivors are not excluded from seeking redress simply because of the time taken to come forward.

    NAPAC also welcomes greater clarity on apologies. A sincere apology, when freely given and supported by meaningful action, is invaluable – especially as part of wider efforts to ensure accountability and prevent future harm.

    These important changes reflect the growing understanding of what survivors need to access justice and healing, and we welcome the government’s commitment to making them a reality.

    Civil claims are made where someone feels that they have suffered a harm or a wrong which another person or organisation is accountable for. It is made by issuing a claim form at the relevant court (such as the County Court), and serving it on the defendant. 

    Further information:

    Updates to this page

    Published 5 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Chairman Mast Exposes Outrageous USAID and State Department Grants

    Source: US House Committee on Foreign Affairs

    Media Contact 202-321-9747

    WASHINGTON, D.C. – Today, House Foreign Affairs Committee Chairman Brian Mast released the following video exposing radical, far-left grants issued by the State Department and United States Agency for International Development under the Biden administration.

    WATCH HERE

    Democrats and unaccountable bureaucrats don’t want Americans to know how their hard-earned tax dollars are being wasted abroad. Chairman Mast is here to set the record straight.

    Several egregious examples include:

    $15 million for condoms to the Taliban through USAID.

    $446,700 to promote the expansion of atheism in Nepal through the State Department.

    $1 million to boost French-speaking LGBTQ groups in West and Central Africa through the State Department.

    $14 million in cash vouchers for migrants at the southern border through the State Department.

    $20,600 for a drag show in Ecuador through the State Department.

    $47,020 for a transgender opera in Colombia through the State Department.

    $32,000 for an LGBTQ-centered comic book in Peru through the State Department.

    $55,750 for a climate change presentation warning about the impact of climate change in Argentina to be led by female and LGBT journalists through the StateDepartment.

    $3,315,446 for “being LGBTQ in the Caribbean” through USAID.

    $7,071.58 for a BIPOC speaker series in Canada through the State Department.

    $80,000 for an LGBTQ community center in Bratislava, Slovakia through the State Department.

    $3.2 million to help Tunisian migrants readjust to life in Tunisia after deportation through the State Department.

    $16,500 to foster a “united and equal queer-feminist discourse in Albanian society” through the State Department.

    $10,000 to pressure Lithuanian corporations to promote “DEI values” through the State Department.

    $8,000 to promote DEI among LGBTQ groups in Cyprus through the State Department.

    $1.5 million to promote job opportunities for LGBTQ individuals in Serbia through USAID.

    $70,884 to create a U.S.-Irish musical to promote DEI in Ireland through the State Department.

    $39,652 to host seminars at the Edinburgh International Book Festival on gender identity and racial equality through the State Department.

    $2.5 million to build electric vehicle charging stations in Vietnam’s largest cities through USAID.

    $425,622 to help Indonesian coffee companies become more climate and gender friendly through USAID.

    ###

    MIL OSI USA News –

  • MIL-OSI: Bitdeer Announces Strategic Acquisition of 101 MW Site and Gas-fired Power Project in Alberta to Deliver the Industry’s First Fully-Vertically Integrated Bitcoin Mining Site

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 04, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced the successful close of the acquisition of a fully licensed and permitted 101 MW site and gas-fired power project situated on 19 acres of land near Fox Creek, Alberta in an all-cash transaction for $21.7 million. The site has potential to scale to 1 GW of power, reflecting Alberta’s abundant energy resources, supportive regulatory posture and pro-business environment.

    The 101 MW gas-fired power project includes all permits and licenses required to construct an on-site natural gas power plant, as well as approval for a 99 MW grid interconnection with Alberta Electric System Operator (“AESO”). Bitdeer will develop and construct the power plant in partnership with a leading Engineering, Procurement and Construction (“EPC”) company and is expected to be energized by Q4 2026.

    Concurrently, the Company plans to build 99 MW of datacenter capacity for Bitcoin mining. This newly acquired site and power generation project provides the Company a unique opportunity to become the world’s first fully-vertically integrated Bitcoin miner at scale and potentially achieve some of the lowest Bitcoin mining production costs in the industry.

    Strategic Benefits

    • Full vertical integration: The Company will have control of the land, power generation, electrical and datacenter infrastructure as well as using its own internally developed and manufactured Bitcoin mining machines. The Company can deploy approximately [9] EH/s of its SEALMINER A3 mining machines upon completion, which are anticipated to have industry leading machine-level efficiency of 11-12 J/TH.
    • Low Power Costs: Projected energy production costs of approximately $20 to $25 per MWh1, based on current gas prices.
    • Sustainability & Potential Carbon Credit Upside: As part of the project acquisition, Bitdeer will deploy a carbon utilization system that captures CO2 making the project a net zero carbon producer. This initiative aims to offset Canada’s carbon tax obligations and may generate future revenue through carbon credits.
    • Energy Cost Optimization & Revenue Flexibility: The Company expects to curtail and sell power back to the Alberta grid to stabilize prices during periods of high demand. The Company estimates this could potentially optimize costs even further.

    “We are really excited about planting roots in Alberta, our first site in Canada. This acquisition is the culmination of extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium. It marks a significant step in our strategy to become the first fully-vertically integrated Bitcoin miner, giving us unmatched control over costs, energy efficiency, and scalability,” said Haris Basit, Chief Strategy Officer at Bitdeer. “By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics.”

    Regarding the project, Danielle Smith, Premier of Alberta said, “We are so pleased to welcome the world’s first net-zero, fully integrated off-grid Bitcoin mining facility — right here in Alberta. Today’s investment is another sign that Alberta continues to be a leader in technology and innovation not only across the country, but across the world. If you want to do business and have a plan to bring your own power, then Alberta is the place for you.”

    Estimated Costs and Development Timeline
    The Company plans to commence site preparation and initial infrastructure development in Q2 2025 and energization in Q4 2026.

    Asset Actual and Estimated Costs
    101 MW Fox Creek Site and 19-acre land near Fox Creek, Alberta $21.7 million cash
    Gas-fired power plant ~$90 million
    Electrical & datacenter infrastructure $300K per MW or ~$30 million
     

    About Bitdeer Technologies Group
    Bitdeer is a world-leading technology company for blockchain and high-performance computing industry. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.

    Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

    Forward-Looking Statements
    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

    For investor and media inquiries, please contact:

    Investor Relations
    Orange Group
    Yujia Zhai
    bitdeerIR@orangegroupadvisors.com

    Public Relations
    BlocksBridge Consulting
    Nishant Sharma
    bitdeer@blocksbridge.com

    1 Assumes natural gas costs of ~$2.06 / GJ, plus regular maintenance and O&M

    The MIL Network –

  • MIL-OSI USA: Barrasso: Pam Bondi Will Usher in a New Era of Safety, Sanity, and Justice

    US Senate News:

    Source: United States Senator for Wyoming John Barrasso

    WASHINGTON, D.C. – U.S. Senator John Barrasso (R-Wyo.), Senate Majority Whip, spoke on the Senate Floor as the Senate prepares to vote on the confirmation of Pam Bondi, President Donald J. Trump’s nominee for Attorney General.

    Click HERE to watch Senator Barrasso’s remarks.

    Sen. Barrasso’s remarks as prepared:

    “The Justice Department needs a leader who has the qualifications, the experience, the determination, and the moral clarity to keep America safe.

    “Florida Attorney General Pam Bondi is that leader. She has my vote and my vocal support.

    “The Attorney General is America’s top prosecutor. The role should be filled by an experienced prosecutor.

    “Attorney General Bondi has prosecution experience. A lot of it.

    “She spent almost 30 years as a criminal prosecutor and then as a state attorney general. She has more trial experience than any modern U.S. Attorney General.

    “Attorney General Bondi is the most experienced career criminal prosecutor ever to be America’s chief law enforcement officer. She is ready to lead on Day One.

    “In Florida, Attorney General Bondi prosecuted a range of violent crimes. She locked up the worst of the worst. Her signature achievements were in fighting illegal drugs and human trafficking.

    “When she became Florida Attorney General in 2011, the state was overrun with pill mills and opioid overdoses.

    “Pam Bondi shut down the pill mills. She locked up the drug dealers. She pushed for stronger laws to stop the spread of synthetic opioids.

    “Under her leadership, Florida led the fight against this deadly epidemic.

    “Attorney General Bondi also protected victims of human trafficking in Florida. She pledged to make combatting human trafficking a top priority at the Department of Justice.

    “Pam Bondi is a fierce advocate for safety. She is also a skilled leader.

    “The Department of Justice is a huge agency. It controls 40 separate organizations. It employs more than 115,000 people. It oversees all 94 U.S. Attorneys across the country.

    “Leading the DOJ is an enormous undertaking. Pam Bondi is up to the challenge.

    “The Florida Attorney General’s office is one of the largest in the country.

    “It handles a broad scope of civil and criminal investigations, just like the Department of Justice. She led that office effectively and efficiently.

    “Attorney General Bondi has received overwhelming support from across the country.

    “More than 100 former senior DOJ officials wrote a letter to the Judiciary Committee in support of Pam Bondi. Here is what they said about Bondi’s track record: It shows ‘the no-nonsense, law-and-order, pro-law enforcement approach she will bring to the Department of Justice.’

    “The Fraternal Order of Police also urged the Senate to confirm Pam Bondi. This is an organization of more than 377,000 members of law enforcement.

    “Attorney General Bondi has also earned the support of Second Amendment advocates.

    “United States Attorney General Pam Bondi will stand in stark contrast to the prior administration’s Justice Department.

    “The previous administration gave us two tiers of justice.

    “It labeled parents as ‘domestic terrorists.’ It brought charges against pro-life protestors, then threw them in prison. It worked with left-wing judges and prosecutors to try to throw President Trump in jail.

    “This doesn’t begin to get into the Russiagate Hoax or covering up for Hunter Biden. In both cases, you saw rogue federal agents try to subvert the democratic process.

    “At her hearing before the Judiciary Committee, Attorney General Bondi promised a different path.

    “Instead of playing politics, Pam Bondi pledged to enforce the law fairly,
    fully, and faithfully.

    “As she said in her opening statement, she will return the DOJ to its ‘core mission of keeping Americans safe and vigorously enforcing the law.’

    “Her commitment to the Constitution, public safety, and equal justice under the law is exactly what America needs.

    “The partisan, politicized, and polarizing prosecutions are over. Pam Bondi will usher in a new era of safety, sanity, and justice. Pam Bondi has my vote to be United States Attorney General.

    “The Senate should confirm her without delay.”

    MIL OSI USA News –

  • MIL-OSI Australia: Interview with Sabra Lane, AM on ABC Radio

    Source: Minister for Trade

    Sabra Lane: The US-China trade war is escalating, with Beijing imposing retaliatory tariffs and restrictions on critical mineral exports. Where does Australia stand? Senator Don Farrell is Australia’s Trade and Tourism Minister and Special Minister of State. Minister, thanks for joining the program.

    Minister for Trade: Nice to be with you, Sabra.

    Sabra Lane: China has announced retaliatory action to Mr. Trump’s tariffs. They’re both Australia’s friends, but only one is an ally. Does the government back Mr Trump?

    Minister for Trade: We want to have a cool, calm and collected approach to this issue. We believe that we have a very strong argument to defend free and fair trade, and that’s the argument that we put to the Chinese Government. And at the end of last year, the last of the products that had been subject to those impediments, namely crayfish, were sent back into China. When the opportunity arises, I’ll be putting exactly the same argument to my American counterpart that we support free and fair trade and it’s in the best interests of both our countries to continue to do that.

    Sabra Lane: Some say it’s shakedown diplomacy. You argue, and the government says, Australia is prepared, but a slowdown in China could affect Australia. How hard could this be?

    Minister for Trade: Well, it’s always possible that higher tariffs on Chinese products going into the United States will have an impact on the Australian economy. As I say, what Australia needs to do is to push issues that are in our national interest. We’re an island. We rely on trade to produce our prosperity. It’s been very successful in recent years. We’ve had record trade. One thing that this government has managed to do is to diversify our trading relationship. So, we now have new free trade agreements with the with the United Kingdom, with India. In fact, in the last few days, India made us a fresh offer to extend our free trade agreement. We’ve negotiated a new free trade agreement with the United Arab Emirates. So, all around the world, we’re looking to diversify our trading relationship so that we’re not simply reliant on one or two countries to provide for our prosperity. We’re looking for a much broader relationship and we’ve been successful in that.

    Sabra Lane: Mr. Trump’s choice of Commerce Minister Howard Lutnick has not been confirmed just yet. Have you spoken with him yet or when do you expect to meet with him to discuss trade?

    Minister for Trade: No, I haven’t spoken with him yet, Sabra, but I have approached the person who will be his Chief of Staff. We’ve indicated that we are very keen to talk. under their system until you get approved by the Senate, you’re not in a position to discuss with other countries. But we’ve made it very clear, and the message that’s come back from Mr Lutnick is that he is very happy to talk with us as soon as he’s legally able to do that. And I hope to be, if not the first person or first overseas minister to speak with him, to be one of the first. And when we get that opportunity, we will push our argument in our national interests that we believe in free and fair trade. That there is no reason for the American Government to impose tariffs on Australia.

    Sabra Lane: We avoided them last time round on steel and aluminium. Are you confident that we can do that again?

    Minister for Trade: What I’m confident about, Sabra, is that we will push the issues that are in our national interest. One of the points I’ll be making to Mr Lutnick is that since President Trump was last in the White House, American sales to Australia have virtually doubled. So, free trade has been very good for the American businesses in Australia. Of course, it’s been good for us because we have increased our trade with the United States. But right at the moment, the balance is very much in the United States’ favour. We buy almost twice as much from the United States as we sell to them. So, I pose this question; why would you impose a tariff on a country where you’ve got a surplus? And, of course, that was the argument that former Prime Minister Turnbull used with Mr Trump last time. So, I think we’ve got a very strong argument. In Singapore mid-last year, we signed another trade agreement with the United States, the Indo-Pacific Economic Framework. So, we’ve been building strong relations with the United States over the last few years. And I think we have a very, very good and strong argument. And I want to do, I want to present that argument to the United States and ask for their serious consideration about what further action they might take.

    Sabra Lane: We have heard this morning with your Special Minister of State hat on, the group Advance is sending out material right now to voters that the Electoral Commission ruled at the last election was misleading. The group says it’s legal right now because it’s being sent before the writs have been issued. Do our laws need tightening to stop this kind of misleading material being sent all the time?

    Minister for Trade: Well, we’ve got laws to deal with the issue of truth in advertising in the electoral context.

    Sabra Lane: Well, this is getting through right now.

    Minister for Trade: Well, those laws haven’t yet passed. We’ve got legislation before the Parliament that’s coming on this Thursday. They’re trying to put downward pressure on the cost of Australian elections. We want every ordinary Australian to be able to participate in the electoral process. And as you saw earlier in the week, Sabra, there’s massive amounts of money going into the Australian electoral system. We want to stop that.

    Sabra Lane: Have you got to deal with the Coalition to get this passed?

    Minister for Trade: Well, I’m talking to everybody, Sabra, as I have been for the last couple of years. And I’m hopeful that this Senate, this week will see the merit in putting downward pressure on the amount of money that’s being spent in Australian elections. It’s interesting over the break, President Biden himself warned that we can’t have a situation where the billionaire oligarchs simply determine who gets into the Australian Parliament. Ordinary Australians, people like you and me, Sabra, have to be able to participate in the electoral process without having billionaire sponsors determining who will and won’t get into the Parliament. So, I’m hopeful that all the discussions I’ve had and I’ve, you know, met with all of the serious players in this space and I’m hopeful that the arguments that we’re presenting for putting downward pressure on the cost of Australian elections will be successful.

    Sabra Lane: Minister, thanks for joining us this morning.

    Minister for Trade: Nice talking with you, Sabra.

    Sabra Lane: That’s Don Farrell, the Minister for Trade and Tourism and the Special Minister of State.

    MIL OSI News –

  • MIL-OSI United Kingdom: PM meeting with Prime Minister Frederiksen of Denmark: 4 February 2025

    Source: United Kingdom – Executive Government & Departments

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The leaders reflected on the EU Council dinner last night, and the Prime Minister said he was pleased to have been able to set out his vision for a closer UK and EU relationship that would benefit all sides through greater growth and enhanced defence and security cooperation.

    Both agreed on the need to strengthen European defence capabilities, including through NATO.

    Turning to security in the High North and Arctic region, the Prime Minister paid tribute to the important role Denmark was playing and welcomed their recent announcement of a new military package to defend the Arctic from hostile activity. 

    Both leaders agreed to step up joint cooperation to address threats in the Arctic and High North, working with allies through NATO and JEF Partners. 

    Turning to Ukraine, the Prime Minister welcomed the Danish Prime Minister’s reflections on the current battlefield situation and the leaders underscored the importance of supporting Ukraine’s forces for the long term, putting them in the strongest possible position.

    The Prime Minister welcomed Denmark’s upcoming presidency of the Council of the European Union, adding he looked forward to working closely with Prime Minister Frederiksen during this time, including on the shared challenge of migration.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Press release: PM meeting with Prime Minister Frederiksen of Denmark: 4 February 2025

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The Prime Minister hosted the Danish Prime Minister, Mette Frederiksen, at Downing Street this evening.

    The leaders reflected on the EU Council dinner last night, and the Prime Minister said he was pleased to have been able to set out his vision for a closer UK and EU relationship that would benefit all sides through greater growth and enhanced defence and security cooperation.

    Both agreed on the need to strengthen European defence capabilities, including through NATO.

    Turning to security in the High North and Arctic region, the Prime Minister paid tribute to the important role Denmark was playing and welcomed their recent announcement of a new military package to defend the Arctic from hostile activity. 

    Both leaders agreed to step up joint cooperation to address threats in the Arctic and High North, working with allies through NATO and JEF Partners. 

    Turning to Ukraine, the Prime Minister welcomed the Danish Prime Minister’s reflections on the current battlefield situation and the leaders underscored the importance of supporting Ukraine’s forces for the long term, putting them in the strongest possible position.

    The Prime Minister welcomed Denmark’s upcoming presidency of the Council of the European Union, adding he looked forward to working closely with Prime Minister Frederiksen during this time, including on the shared challenge of migration.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Massachusetts Member of Al-Qaeda in the Arabian Peninsula Sentenced to 44 Years in Prison for Terrorism Offenses

    Source: US State Government of Utah

    Minh Quang Pham, also known as “Amim”, 41, of Massachusetts, was sentenced today to 44 years in prison and a lifetime of supervised release for attempted suicide bombing in alliance with al-Qaeda in the Arabian Peninsula (AQAP), a designated foreign terrorist organization.

    “The defendant was sentenced for an attempt to commit an act of terrorism and plotting a suicide bombing on behalf of AQAP,” said Devin DeBacker, head of the Justice Department’s National Security Division. “The Justice Department will not rest in seeking justice for acts of terrorism and will continue to thwart any attempt to jeopardize global security.”

    “Pham coordinated with known terrorist Anwar al-Aulaqi on a plot to conduct a suicide bombing at Heathrow International Airport which could have killed or injured many people, but fortunately that plan was stopped,” said Assistant Director David J. Scott of the FBI’s Counterterrorism Division. “Pham also tried to recruit others to commit acts of terrorism. The FBI will work with our partners to hold accountable those who align themselves with terrorist organizations and attempt to carry out acts of violence.”

    “Minh Quang Pham’s actions were not just an affront to the safety of this country, but to the principles of peace and security that we hold dear,” said U.S. Attorney Danielle R. Sassoon for the Southern District of New York. “Today’s sentencing underscores our collective resolve to stop terrorism before it occurs, and place would-be terrorists in prison.”

    According to court documents, in December 2010, Pham informed others that he planned to travel to Ireland while residing in London. From Ireland, he traveled to Yemen, the principal base of operations for AQAP. Pham traveled to Yemen in order to join AQAP, wage jihad on behalf of AQAP, and martyr himself for AQAP’s cause. After arriving in Yemen, he swore an oath of loyalty to AQAP in the presence of an AQAP commander.

    While in Yemen in 2010 and 2011, Pham provided assistance to and received training from Anwar al-Aulaqi, a U.S.-born senior leader of AQAP. Al-Aulaqi advised Pham to return to the U.K. for the purpose of finding and making contact with individuals who, like Pham, wanted to travel to Yemen to join AQAP. Al-Aulaqi also provided Pham with money, as well as a telephone number and e-mail address that Pham was to use to contact al-Aulaqi upon his return to the U.K. In addition, Pham exchanged his laptop computer with al-Aulaqi, who provided him with a new “clean” laptop to take with him when he returned to the U.K. so that the authorities would not find anything if they searched his computer.

    In or about June 2011, prior to his departure from Yemen, Pham approached al-Aulaqi about conducting a suicide attack whereby he would “sacrifice” himself on behalf of AQAP. Al-Aulaqi personally taught Pham how to create a lethal explosive device using household chemicals and directed Pham to detonate such an explosive device at the arrivals area of Heathrow International Airport following Pham’s return to the U.K. in 2011. Al-Aulaqi instructed Pham to carry an explosive in a concealed backpack and target the area where flights arrived from the U.S. or Israel. During this time, Pham made videos depicting his preparation to carry out that attack. In one video, Pham is shown wiring an electrical device for the use of making an explosive device. In another video, he sketches an explosive device to be contained in a backpack, and in a third, Pham wears a backpack with wiring for explosives on it, which he turns on in the video.

    During this time, around June or July 2011 — shortly before Pham returned from Yemen to the U.K. — Pham recorded a video in which he attempted to recruit and encourage individuals in the West to engage in violent jihad abroad or in their home countries. In this video, he also expresses a desire to martyr himself. At the outset of this video, consisting of an approximately 13-minute-long monologue, Pham states that, “America itself is not fighting a war with a group or an organization, they are fighting with the army of Allah, the believers.” He continues, in part, “We have that opportunity, that ability to be in their midst, in their land . . . and I advise the brothers inshallah to, whatever you can, to gather and prepare and strike the enemy in their own land . . . The saying, a thousand cuts, you hit them with as much as you can until inshallah the enemy will bleed to death.” During his time in Yemen, Pham also assisted with the preparation and dissemination of AQAP’s propaganda magazine, Inspire. Pham, who has college degrees in both graphic design and animation, worked directly with now-deceased U.S. citizen, Samir Khan, who was a prominent member of AQAP responsible for editing and publishing Inspire.  

    Pham also received a six-page document entitled “Your Instructions” from al-Aulaqi in Yemen, which provided detailed instructions on how Pham was to commit his suicide attack at Heathrow. The document from al-Aulaqi instructed Pham, “[d]o not do anything for the first three months” and “[y]ou should target Christmas/ New Year season[.]” The instructions from al-Aulaqi provided explicit direction about the importance of using shrapnel to kill as many people as possible, including that “[t]he proper use of shrapnel is as important as the main charge itself. The detonation wave from a main charge of AP by itself is most likely not going to cause the death of anyone except those who are in its immediate vicinity. It is the shrapnel that would do the job. You may imagine this IED as a shotgun that is firing in all directions.” The document therefore instructed Pham to take “special care” with the “proper arrangement and choice of shrapnel,” and to “poison” it to inflict maximum death.

    On July 27, 2011, Pham returned to the U.K. Upon his arrival at Heathrow, U.K. authorities detained Pham, searched him, and recovered various materials from him, including a live round of 7.62mm caliber armor-piercing ammunition, which is consistent with ammunition that is used in a Kalashnikov assault rifle, a type of weapon for which Pham received training from AQAP in Yemen. U.K. authorities released Pham and cautioned him for his possession of the live round of ammunition, before, in December 2011, arresting him pursuant to their authorities under U.K. immigration law. In searches of Pham’s residence, other locations, and vehicles, U.K. authorities recovered several pieces of electronic media. Among other things, a forensic analysis of Pham’s electronic media showed that he was accessing speeches and writings of al-Aulaqi as late as December 2011 — months after Pham’s return to the U.K.

    On May 24, 2012, a grand jury returned an indictment charging Pham with terrorism offenses and U.S. authorities sought Pham’s extradition from the U.K. He was provisionally arrested with a view towards extradition on June 29, 2012, and he was extradited to the United States on Feb. 26, 2015. On Jan. 8, 2016, Pham pleaded guilty to terrorism offenses related to certain of the same underlying conduct. On May 27, 2016, Pham was sentenced by U.S. District Judge Alison J. Nathan principally to a term of 40 years in prison. On Sept. 12, 2017, the U.S. Court of Appeals for the Second Circuit affirmed Pham’s conviction and sentence. Thereafter, Pham made a motion that, based on intervening Supreme Court decisions, resulted in the vacatur of one of the counts of his conviction. Ultimately, the government, with Pham’s consent, moved to vacate Pham’s earlier convictions. On April 8, 2021, a grand jury returned a superseding indictment, reinstating certain charges and filing other new charges against Pham, and which formed the basis for Pham’s May 11, 2023, guilty plea and conviction.

    The FBI Washington and New York Field Offices investigated the case. The Justice Department’s Office of International Affairs, Metropolitan Police Service/SO 15 Counter Terrorism Command at New Scotland Yard, Crown Prosecution Service, and the Home Office provided assistance in the investigation, extradition, and prosecution of the case.

    Assistant U.S. Attorney Jacob H. Gutwillig for the Southern District of New York and Trial Attorney John Cella of the National Security Division’s Counterterrorism Section prosecuted the case. 

    MIL OSI USA News –

  • MIL-OSI Security: Massachusetts Member of Al-Qaeda in the Arabian Peninsula Sentenced to 44 Years in Prison for Terrorism Offenses

    Source: United States Attorneys General 13

    Minh Quang Pham, also known as “Amim”, 41, of Massachusetts, was sentenced today to 44 years in prison and a lifetime of supervised release for attempted suicide bombing in alliance with al-Qaeda in the Arabian Peninsula (AQAP), a designated foreign terrorist organization.

    “The defendant was sentenced for an attempt to commit an act of terrorism and plotting a suicide bombing on behalf of AQAP,” said Devin DeBacker, head of the Justice Department’s National Security Division. “The Justice Department will not rest in seeking justice for acts of terrorism and will continue to thwart any attempt to jeopardize global security.”

    “Pham coordinated with known terrorist Anwar al-Aulaqi on a plot to conduct a suicide bombing at Heathrow International Airport which could have killed or injured many people, but fortunately that plan was stopped,” said Assistant Director David J. Scott of the FBI’s Counterterrorism Division. “Pham also tried to recruit others to commit acts of terrorism. The FBI will work with our partners to hold accountable those who align themselves with terrorist organizations and attempt to carry out acts of violence.”

    “Minh Quang Pham’s actions were not just an affront to the safety of this country, but to the principles of peace and security that we hold dear,” said U.S. Attorney Danielle R. Sassoon for the Southern District of New York. “Today’s sentencing underscores our collective resolve to stop terrorism before it occurs, and place would-be terrorists in prison.”

    According to court documents, in December 2010, Pham informed others that he planned to travel to Ireland while residing in London. From Ireland, he traveled to Yemen, the principal base of operations for AQAP. Pham traveled to Yemen in order to join AQAP, wage jihad on behalf of AQAP, and martyr himself for AQAP’s cause. After arriving in Yemen, he swore an oath of loyalty to AQAP in the presence of an AQAP commander.

    While in Yemen in 2010 and 2011, Pham provided assistance to and received training from Anwar al-Aulaqi, a U.S.-born senior leader of AQAP. Al-Aulaqi advised Pham to return to the U.K. for the purpose of finding and making contact with individuals who, like Pham, wanted to travel to Yemen to join AQAP. Al-Aulaqi also provided Pham with money, as well as a telephone number and e-mail address that Pham was to use to contact al-Aulaqi upon his return to the U.K. In addition, Pham exchanged his laptop computer with al-Aulaqi, who provided him with a new “clean” laptop to take with him when he returned to the U.K. so that the authorities would not find anything if they searched his computer.

    In or about June 2011, prior to his departure from Yemen, Pham approached al-Aulaqi about conducting a suicide attack whereby he would “sacrifice” himself on behalf of AQAP. Al-Aulaqi personally taught Pham how to create a lethal explosive device using household chemicals and directed Pham to detonate such an explosive device at the arrivals area of Heathrow International Airport following Pham’s return to the U.K. in 2011. Al-Aulaqi instructed Pham to carry an explosive in a concealed backpack and target the area where flights arrived from the U.S. or Israel. During this time, Pham made videos depicting his preparation to carry out that attack. In one video, Pham is shown wiring an electrical device for the use of making an explosive device. In another video, he sketches an explosive device to be contained in a backpack, and in a third, Pham wears a backpack with wiring for explosives on it, which he turns on in the video.

    During this time, around June or July 2011 — shortly before Pham returned from Yemen to the U.K. — Pham recorded a video in which he attempted to recruit and encourage individuals in the West to engage in violent jihad abroad or in their home countries. In this video, he also expresses a desire to martyr himself. At the outset of this video, consisting of an approximately 13-minute-long monologue, Pham states that, “America itself is not fighting a war with a group or an organization, they are fighting with the army of Allah, the believers.” He continues, in part, “We have that opportunity, that ability to be in their midst, in their land . . . and I advise the brothers inshallah to, whatever you can, to gather and prepare and strike the enemy in their own land . . . The saying, a thousand cuts, you hit them with as much as you can until inshallah the enemy will bleed to death.” During his time in Yemen, Pham also assisted with the preparation and dissemination of AQAP’s propaganda magazine, Inspire. Pham, who has college degrees in both graphic design and animation, worked directly with now-deceased U.S. citizen, Samir Khan, who was a prominent member of AQAP responsible for editing and publishing Inspire.  

    Pham also received a six-page document entitled “Your Instructions” from al-Aulaqi in Yemen, which provided detailed instructions on how Pham was to commit his suicide attack at Heathrow. The document from al-Aulaqi instructed Pham, “[d]o not do anything for the first three months” and “[y]ou should target Christmas/ New Year season[.]” The instructions from al-Aulaqi provided explicit direction about the importance of using shrapnel to kill as many people as possible, including that “[t]he proper use of shrapnel is as important as the main charge itself. The detonation wave from a main charge of AP by itself is most likely not going to cause the death of anyone except those who are in its immediate vicinity. It is the shrapnel that would do the job. You may imagine this IED as a shotgun that is firing in all directions.” The document therefore instructed Pham to take “special care” with the “proper arrangement and choice of shrapnel,” and to “poison” it to inflict maximum death.

    On July 27, 2011, Pham returned to the U.K. Upon his arrival at Heathrow, U.K. authorities detained Pham, searched him, and recovered various materials from him, including a live round of 7.62mm caliber armor-piercing ammunition, which is consistent with ammunition that is used in a Kalashnikov assault rifle, a type of weapon for which Pham received training from AQAP in Yemen. U.K. authorities released Pham and cautioned him for his possession of the live round of ammunition, before, in December 2011, arresting him pursuant to their authorities under U.K. immigration law. In searches of Pham’s residence, other locations, and vehicles, U.K. authorities recovered several pieces of electronic media. Among other things, a forensic analysis of Pham’s electronic media showed that he was accessing speeches and writings of al-Aulaqi as late as December 2011 — months after Pham’s return to the U.K.

    On May 24, 2012, a grand jury returned an indictment charging Pham with terrorism offenses and U.S. authorities sought Pham’s extradition from the U.K. He was provisionally arrested with a view towards extradition on June 29, 2012, and he was extradited to the United States on Feb. 26, 2015. On Jan. 8, 2016, Pham pleaded guilty to terrorism offenses related to certain of the same underlying conduct. On May 27, 2016, Pham was sentenced by U.S. District Judge Alison J. Nathan principally to a term of 40 years in prison. On Sept. 12, 2017, the U.S. Court of Appeals for the Second Circuit affirmed Pham’s conviction and sentence. Thereafter, Pham made a motion that, based on intervening Supreme Court decisions, resulted in the vacatur of one of the counts of his conviction. Ultimately, the government, with Pham’s consent, moved to vacate Pham’s earlier convictions. On April 8, 2021, a grand jury returned a superseding indictment, reinstating certain charges and filing other new charges against Pham, and which formed the basis for Pham’s May 11, 2023, guilty plea and conviction.

    The FBI Washington and New York Field Offices investigated the case. The Justice Department’s Office of International Affairs, Metropolitan Police Service/SO 15 Counter Terrorism Command at New Scotland Yard, Crown Prosecution Service, and the Home Office provided assistance in the investigation, extradition, and prosecution of the case.

    Assistant U.S. Attorney Jacob H. Gutwillig for the Southern District of New York and Trial Attorney John Cella of the National Security Division’s Counterterrorism Section prosecuted the case. 

    MIL Security OSI –

  • MIL-OSI Submissions: Europe – Research Highlights: 5K+ Women Reveal Career Progression Barriers In Tech Industry

    Source: Women Go Tech

    Women Go Tech published results from a Google.org and OSCE-backed study on the challenges and disparities facing women at all levels of the tech sector. Over 40 experts and 5,000 women provided insight into how the situation can be improved, mostly through public policy and private development.

    February 5, Vilnius–Lithuania. Women Go Tech, a Lithuanian NGO focused on empowering women in tech, recently released a new study highlighting the challenges women in Central and Eastern Europe face during their career progression in the tech industry, and presenting strategies to empower women in tech.

    The study, “Building the Future Power Hub for Women in Tech,” surveyed 5,475 women across 13 countries, with support from Google.org and the Organization for Security and Cooperation in Europe (OSCE). The results revealed which countries are most ready to enable women in tech: Bulgaria, Lithuania, Romania, and Latvia. On the other hand, Slovakian, Czech, and Croatian women are experiencing the most barriers to enter the industry.

    “After women shared their experiences, they were analyzed by more than 40 experts, outlining solutions to shift the tech industry landscape to help women succeed faster, in CEE and around the world,” Žydrūnė Vitaitė, co-founder of Women Go Tech, shared.

    In the study, respondents from all CEE countries agreed that ageism, negative stereotypes about women’s abilities, and education bias were all factors holding women back or discouraging them from pursuing careers in tech. Women also reported poor work-life balance and low representation in leadership roles as influencing their career decisions, as well as fewer opportunities to learn about tech compared to men.

    Specifically in Slovakia, Czechia, Croatia, Slovenia, Hungary, Poland, Austria, Estonia, and Latvia, women also believe it is harder for them to succeed in the tech sector than for men. Croatian and Slovenian women are still facing the strongest stereotypes regarding female incapacity to work in the tech sector.

    “Although women in the tech sector today face several challenges, this study also explains where the tech industry can improve and how it can attract more female talent,” noted Žydrūnė. “We need to create a robust environment where women feel supported and empowered not only by the government but also by their peers and other women. A more gender-balanced company will understand and serve the diverse demands of its users and clients, resulting in better products and services. This in turn will help unlock the CEE’s potential to become a global leader in tech innovation.”

    Bulgaria, for instance, boasts one of the highest rates of women in tech and science in all of Europe, and respondents in the WGT study recognized opportunities for upskilling as well as equal access to education and jobs. The country’s tech sector grew by 12% in 2023 and has witnessed steady growth over the past 15 years and is one of Europe’s most dynamic tech hubs.

    According to a 2023 McKinsey study of 1,265 companies in 23 countries, those companies performing in the top quartile of gender representation had a 39% better chance of financial outperformance versus their peers in the bottom quartile. The same held true for diversity on companies’ boards of directors, with a 27% greater likelihood of outperformance. Moreover, the study concluded that diverse representation will foster diverse talent and innovation.

    Governmental input into mentorship programs is needed to close the gap

    Better compensation is the primary motivator for women of any age or experience to enter the tech sector, despite the persistence of a pay gap. Work flexibility and work-life balance are also important incentives. Unfortunately, many women working in tech report a lack of these elements in their jobs.

    “This discrepancy may be discouraging to women’s willingness to mentor and inspire others to join the industry,” said Vitaitė.

    Study revealed that most women surveyed did not have a mentor while progressing through a tech sector.

    Survey also revealed that to change the dynamic, policymakers should invest in mentorship and training programs tailored to women. While this is recommended on a governmental level, businesses should also prioritize mentorship programs for women, embrace diverse hiring practices, and work to increase female representation in leadership positions.

    An issue that remains in the industry is equal pay, alongside the need to promote transparent equal pay policies. The study encourages hybrid and remote work options in tech. Enabling equal career progression for IT professionals is crucial as Europe faces Information and Communication Technology (ICT) skills shortage–only 12 million specialists are projected by 2030 despite EU’s target of 20 million.

    “Building the Future Power Hub for Women in Tech” also included a section focusing on the barriers and biases faced by Ukrainian women in exile who are working to build professional lives within the tech sector.

    About Women Go Tech

    The organization “Women Go Tech” is an NGO navigating women toward careers in tech. Started as a first mentorship program for women in Lithuania in 2017, it has now expanded activities in the CEE. The organization is committed to educating 20,000 women on the use of AI tools and applications. So far, 700+ women have successfully transitioned into the IT industry with the help of the mentorship program and over 19,000 women participated in the introduction course “Discover Tech”. Having positively impacted the lives of hundreds of women and cultivated a new generation of female role models in tech, the NGO has grown from a local project into a movement with significant influence across the region. The organization is a long-term grantee of Google.org.

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: Funding secured for next phase of major flood defence scheme

    Source: City of Derby

    Derby’s Our City, Our River (OCOR) project has been handed a £35 million boost by the Government, with the allocation of Flood Defence Grant-in-Aid to deliver the next phase of the scheme

    The funding has been released by the Department for Environment, Food and Rural Affairs (Defra) from their Flood and Coastal Erosion Risk Management Investment Programme and will be managed by the Environment Agency on their behalf.

    This secures the future of Derby Riverside, which will deliver significant flood resilience protection to many properties along the east bank of the Derwent. It will now go to Cabinet to be formally accepted and allows the Council to enter into contract with construction partners.

    Councillor Carmel Swan, Cabinet Member for Climate Change, Transport and Sustainability, said: 

    It’s incredible news for Derby that this funding package has been allocated by the government to protect our city from the risk of flooding. This will be such welcome news for households and businesses alike. We can now really start to push ahead with the works at Derby Riverside as we continue to future proof the city against extreme weather. 

    Here in Derby, we’re all too familiar with the effects of climate change. In the last six years we have seen the five highest river levels on record. The Our City, Our River flood prevention scheme has already delivered enhanced protection to thousands of properties, but there is still more work to do to ensure our city has the best defences possible.

    This £35 million investment from the Government means we can now build on the years of hard work from the Council and Environment Agency to deliver this critical infrastructure our city needs.

    Alex McDonald, Strategic Senior Flood Risk Management Advisor at the Environment Agency said:

    We know the devastating effect that flooding can have on communities and businesses including within Derby City. OCOR represents a long-standing partnership between Derby City Council and the Environment Agency. The Derby Riverside element will replace aging flood defences in the city, provide space for water and help to transform the city centre. As the project moves into its next phase we will continue to support Derby City Council to deliver this vital infrastructure for the city centre, helping the city to keep pace with our changing climate.

    The city saw the effects of climate change in action in 2023 when river levels reached their highest point ever recorded during Storm Babet, and while the flood gates and defences built during earlier phases of OCOR have not been called into action since, there have been several named storms in recent months.

    Derby Riverside will deliver enhanced protection along the east bank of the river, starting at Causey Bridge and ending at the Railway Bridge across the river. The new flood wall and flood gates will offer far better protection for Exeter House and properties on Meadow Road and Meadow Lane, as well as unlocking the potential for regeneration in this part of the city. 

    This next stage will also provide enhanced protection to businesses such as Rolls-Royce, which is planning to expand its riverside site at Raynesway. Terry Meighan, Director – Infrastructure at Rolls-Royce Submarines said: 

    We continue to work closely with Derby City Council and the Environment Agency on future flood defences, which will protect our Raynesway site and play an important role in our expansion plans. The work we do helps protect the UK by powering the Royal Navy’s fleet of nuclear submarines and defending against flooding helps us maintain our delivery commitments to the UK Ministry of Defence.

    These works will involve the demolition of the riverside office blocks on Stuart Street to create a new riverside green area, providing more space for water to pass through the city in a controlled corridor during a flood event. The Council are currently working with affected businesses to acquire the necessary land.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Record investment to protect thousands of UK homes and businesses

    Source: United Kingdom – Executive Government & Departments

    A record £2.65 billion will be committed to build or maintain up to 1,000 flood defences, protecting more than 66,000 properties.

    Environment Agency: Ipswich Tidal Barrier

    Tens of thousands of homes and business will be better protected from flooding as the government unveils a record package to build new flood defences and maintain and repair those already in place.  

    As part of the Plan for Change, the Government is committing a record two-year investment of £2.65 billion with 52,000 properties set to benefit from new defences by March 2026. To shore up creaking defences in need of repairs, funding will be reprioritised for investment in much-needed maintenance, benefitting a further 14,500 properties. This means a total of 66,500 properties will benefit from this funding.   

    With the frequency of extreme weather events only continuing to rise, leading to devastating impacts for people, homes, businesses and communities and costing the UK economy billions each year, decisive action to invest in adapting to climate change has never been more important.  

    As well as protecting families from the devastation of flooding, the investment supports economic growth by protecting businesses, supporting jobs, and supporting a stable economy in the face of the increasing risk of flooding as a result of climate change. It will also protect farmland which has been badly hit by recent storms, in turn helping to safeguard farm businesses and farmers’ profits. 

    This Government inherited flood assets in their poorest condition on record, as years of underinvestment and damaging storms left 3,000 of the Environment Agency’s 38,000 high-consequence assets at below the required condition.   

    The announcement comes as the Government’s Floods Resilience Taskforce meets today, with Floods Minister Emma Hardy joined by ministers from across government alongside representatives from the Met Office, Local Resilience Forums, and the National Farmers’ Union. They will look at further steps that can be taken to protect the 6.3 million properties in England at risk from flooding, and discuss lessons to learn from Storms Bert, Conall and Éowyn this winter.

    Secretary of State for Environment, Food and Rural Affairs Steve Reed said: 

    The storms this winter have devastated lives and livelihoods.   

    The role of any Government is to protect its citizens. 

    Under our Plan for Change, we are investing a record £2.65 billion to build and maintenance flood defences to protect lives, homes and businesses from the dangers of flooding.

    Up to 1000 projects are set to receive a share of the funding. Projects receiving funding include:   

    • Bridgwater Tidal Barrier Flood Defence Scheme in Somerset, which will receive £43 million. 

    • The Derby Flood Risk Management Scheme “Our City Our River”, which is set to receive £35 million. 

    • In the West Midlands, the Beales Corner project, which protects communities in Bewdley, will benefit from £2 million.  

    • An additional £3.5 million for the Poole Bridge to Hunger Hill Flood Defences in Dorset 

    • Support for property flood resilience schemes across Leicestershire, Derbyshire and Nottinghamshire, receiving £2.5 million. 

    Essential maintenance will be made to defences across the country including:

    • Phase 3 of the Stallingborough Sea Defences along the Humber estuary, receiving over £7 million 

    • A further £3.8 million will be spent to improve protection in Pevensey Bay, as part of work to repair local sea defences.  

    Environment Agency Chair Alan Lovell said:  

    The impact of flooding on our communities will only become greater as climate change brings more extreme weather, like Storms Bert, Conall and Éowyn. 

    With this new funding, we will work closely with the Government to deliver the vital projects that are needed across the country, ensuring our investment goes to those communities who need it the most.

    Recognising many flood defence projects have stalled, £140 million from the investment programme will be prioritised for 31 projects that are ready for delivery, ensuring nearby communities are protected as soon as possible. The full list of schemes to benefit will be announced in the coming months.  

    In addition to providing this crucial funding, the Government will be focused on fixing the foundations of the nation’s flood defences and giving communities confidence that they will protect them. This year, £36 million is being spent to undertake urgent repairs to defences damaged in last winter’s extreme flooding events.  

    For the next year, a further £72 million will go towards maintaining and repairing assets, including those damaged in recent flood events, to ensure they are as resilient as possible and operate as expected.   

    Today’s Floods Resilience Taskforce will be hosted by Flood Re, a joint initiative between the Government and insurers aimed at making the flood cover part of household insurance policies more affordable. 

    The expert group’s discussions will focus on the national and local response to this winter’s flooding. It will also discuss further the long-term delivery of the Government’s flood resilience strategy and investment, including the planned review of the government’s funding formula for allocating money to flood and coastal erosion defence schemes.  

    Wider action to improve the nation’s flood resilience 

    The government is committed to delivering a refreshed and updated approach to flood defences, fit for the challenges we face. 

    • The existing funding formula for allocating money to defences slows down the delivery of new schemes through a complex application process and neglects more innovative approaches to flood management – which is why a consultation to update the formula will be launched shortly. 

    • In addition, to support rural communities impacted by flooding, more than £57 million has paid out to farmers impacted by severe weather between October 2023 and March 2024. The Farming Recovery fund has supported 12,700 businesses to cover the cost of restoring their farmland. 

    • Elsewhere, the government has allocated £50 million to internal drainage boards (IDBs) as part of a one-off £75 million IDB Fund. This funding will empower IDBs to manage water levels effectively for agriculture and environmental needs, ensuring their crucial role in flood and water management is supported for years to come.  

    • In addition, the Environment Agency has also confirmed that 34 natural flood management projects will move ahead to delivery. These projects, which are located across England, will use nature to increase the nation’s flood resilience. These projects, which are located across England, will use nature to increase the nation’s flood resilience. 

    • Beneficiaries include Leicester City Council, which is working in partnership with Trent Rivers Trust to reduce flood risk across 13 locations in Leicestershire. Their work includes implementing blue green sustainable drainage at several schools, tree planting, and creating new wetlands to improve floodplain connectivity and increase flood water storage.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Former soldier sentenced to 7+years in prison for sexual abuse of a child on Joint Base Lewis-McChord

    Source: Office of United States Attorneys

    Defendant previously investigated in the Army and prosecuted in State Court for sexual assault crimes

    Tacoma – A former U.S. Army soldier was sentenced today in U.S. District Court in Tacoma to 87 months in prison for abusive sexual contact with a child, announced U.S. Attorney Tessa M. Gorman. Cameron James Taylor, 49, of Seattle, pleaded guilty in May 2024 and has been in custody since his guilty plea.  At today’s sentencing hearing Chief U.S. District Judge David G. Estudillo noted the conduct in this case may cause the victim lifetime torment. The victim “is a strong individual” and “shows courage to move on” Chief Judge Estudillo said.

    “This horrific conduct cannot go unpunished. Our work to protect children on our military bases is a priority in the Western District of Washington,” said U.S. Attorney Gorman. “Mr. Taylor sexually assaulted a child who was just 5 years old. He then pressured the child to hide the conduct when questioned by other adults. I commend the strength of the victim in this case.”

    According to records filed in the case, Taylor left the Army in 2016 with an “Other than Honorable” discharge after he was investigated for sexual assault of an unconscious female in Germany, and for assaulting soldiers who went to arrest him. Taylor resigned in lieu of Court Martial.

    Once back in the U.S., Taylor was convicted of the 2019 sexual assault of a 5-year-old neighbor child. Taylor forced the child to massage him and reach into his pants. In 2022, Taylor was sentenced in King County Superior Court to 18 months in prison.

    During the investigation related to the neighbor child, other children who had been in Taylor’s care were interviewed. Taylor had coached a child, who was now a teen about hiding his sexual assaults. Ultimately, the child disclosed to a relative that in 2012, while stationed on JBLM, Taylor locked the then 5- or 6-year-old in a closet and sexually assaulted the child.

    On the eve of trial, Taylor pleaded guilty.

    In asking for the 8-year sentence prosecutors wrote to the court, “Taylor’s crimes reveal a man who lacks empathy and who prioritized his own pleasure over others’ pain. Taylor is also no stranger to the justice system; this is his third criminal sex offense. The government hopes that a 96-month sentence, coupled with lifetime supervised release, will prevent Taylor from reoffending again.”

    Taylor is required to register as a sex offender following his prison term. Chief Judge Estudillo ordered that he be on supervised release for ten years following prison.

    The case was investigated by U.S. Army Criminal Investigations (CID), the King County Sheriff’s Office, and the FBI.

    The case was prosecuted by Assistant United States Attorneys Hillary K. Stuart and Erika J. Evans.

    MIL Security OSI –

  • MIL-OSI Security: Member Of Al Qaeda In The Arabian Peninsula Sentenced To 44 Years In Prison For Terrorism Offenses

    Source: Office of United States Attorneys

    Minh Quang Pham Traveled to Yemen and Received Military Training from AQAP to Commit a Suicide Attack at Heathrow International Airport

    Danielle R. Sassoon, the United States Attorney for the Southern District of New York, and Devin DeBacker, the Head of the National Security Division of the United States Department of Justice, announced today that MINH QUANG PHAM, a/k/a “Amin,” 41, was sentenced to 44 years in prison for terrorism charges based on Pham’s support of al Qaeda in the Arabian Peninsula (“AQAP”), a designated foreign terrorist organization, including attempting to commit a suicide bombing at Heathrow International Airport (“Heathrow Airport”).  On May 11, 2023, PHAM pled guilty to providing and attempting to provide material support to AQAP and participating in a conspiracy to do the same; conspiring to receive military-type training from AQAP; and providing and attempting to provide material support for acts of terrorism.  Today’s sentence was imposed by U.S. District Judge Richard M. Berman.

    U.S. Attorney Danielle R. Sassoon said:  “Minh Quang Pham’s actions were not just an affront to the safety of this country, but to the principles of peace and security that we hold dear. Today’s sentencing underscores our collective resolve to stop terrorism before it occurs, and place would-be terrorists in prison.”

    Head of the Justice Department’s National Security Division Devin DeBacker said: “The defendant was sentenced for an attempt to commit an act of terrorism and plotting a suicide bombing on behalf of AQAP. The Justice Department will not rest in seeking justice for acts of terrorism and will continue to thwart any attempt to jeopardize global security.”

    According to the indictments, extradition materials, court filings and statements made at related court proceedings, including today’s sentencing:

    In December 2010, PHAM informed others that he planned to travel to Ireland while residing in London. From Ireland, he traveled to Yemen, the principal base of operations for AQAP. PHAM traveled to Yemen in order to join AQAP, to wage jihad on behalf of AQAP and to martyr himself for AQAP’s cause. After arriving in Yemen, he swore an oath of loyalty to AQAP in the presence of an AQAP commander.

    While in Yemen in 2010 and 2011, PHAM provided assistance to and received training from Anwar al-Aulaqi, a U.S.-born senior leader of AQAP.  Al-Aulaqi advised PHAM to return to the United Kingdom for the purpose of finding and making contact with individuals who, like PHAM, wanted to travel to Yemen to join AQAP.  Al-Aulaqi also provided PHAM with money, as well as a telephone number and e-mail address that PHAM was to use to contact al-Aulaqi upon his return to the U.K.  In addition, PHAM exchanged his laptop computer with al-Aulaqi, who provided him with a new “clean” laptop to take with him when he returned to the U.K. so that the authorities would not find anything if they searched his computer.

    In or about June 2011, prior to his departure from Yemen, PHAM approached al-Aulaqi about conducting a suicide attack whereby he would “sacrifice” himself on behalf of AQAP. Al-Aulaqi personally taught PHAM how to create a lethal explosive device using household chemicals and directed PHAM to detonate such an explosive device at the arrivals area of Heathrow following PHAM’s return to the U.K. in 2011.  Al-Aulaqi instructed PHAM to carry an explosive in a concealed backpack and target the area where flights arrived from the U.S. or Israel.  During this time, PHAM made videos depicting his preparation to carry out that attack.  In one video, PHAM is shown wiring an electrical device for the use of making an explosive device; in another, he sketches an explosive device to be contained in a backpack; and in a third, PHAM wears a backpack with wiring for explosives on it, which he turns on in the video.

    Also during this time, in or about June or July 2011—shortly before PHAM returned from Yemen to the U.K.—PHAM recorded a video in which he attempted to recruit and encourage individuals in the West to engage in violent jihad abroad or in their home countries; in this video, he also expresses a desire to martyr himself.  At the outset of this video, consisting of an approximately 13 minute-long monologue, PHAM states that, “America itself is not fighting a war with a group or an organization, they are fighting with the army of Allah, the believers.”  He continues, in part, “We have that opportunity, that ability to be in their midst, in their land . . . and I advise the brothers inshallah to, whatever you can, to gather and prepare and strike the enemy in their own land . . . The saying, a thousand cuts, you hit them with as much as you can until inshallah the enemy will bleed to death.”  During his time in Yemen, PHAM also assisted with the preparation and dissemination of AQAP’s propaganda magazine, Inspire. PHAM, who has college degrees in both graphic design and animation, worked directly with now-deceased U.S. citizen Samir Khan, who was a prominent member of AQAP responsible for editing and publishing Inspire.

    PHAM also received a six-page document entitled “Your Instructions” from al-Aulaqi in Yemen, which provided detailed instructions on how PHAM was to commit his suicide attack at Heathrow.  The document from al-Aulaqi instructed PHAM, “[d]o not do anything for the first three months” and “[y]ou should target Christmas/ New Year season[.]”  The instructions from al-Aulaqi provided explicit direction about the importance of using shrapnel to kill as many people as possible, including that “[t]he proper use of shrapnel is as important as the main charge itself.  The detonation wave from a main charge of AP by itself is most likely not going to cause the death of anyone except those who are in its immediate vicinity.  It is the shrapnel that would do the job.  You may imagine this IED as a shotgun that is firing in all directions.”  The document therefore instructed PHAM to take “special care” with the “proper arrangement and choice of shrapnel,” and to “poison” it to inflict maximum death.

    On July 27, 2011, PHAM returned to the U.K.  Upon his arrival at Heathrow, U.K. authorities detained PHAM, searched him, and recovered various materials from him, including a live round of 7.62mm caliber armor-piercing ammunition, which is consistent with ammunition that is used in a Kalashnikov assault rifle, a type of weapon for which PHAM received training from AQAP in Yemen.  U.K. authorities released PHAM and cautioned him for his possession of the live round of ammunition, before, in December 2011, arresting him pursuant to their authorities under U.K. immigration law.  In searches of PHAM’s residence, other locations, and vehicles, U.K. authorities recovered several pieces of electronic media.  Among other things, a forensic analysis of PHAM’s electronic media showed that he was accessing speeches and writings of al-Aulaqi as late as December 2011—months after PHAM’s return to the U.K.   

    On May 24, 2012, a grand jury returned an indictment charging Pham with terrorism offenses and U.S. authorities sought Pham’s extradition from the United Kingdom.  He was provisionally arrested with a view towards extradition on June 29, 2012, and he was extradited to the United States on February 26, 2015.  On January 8, 2016, Pham pled guilty to terrorism offenses related to certain of the same underlying conduct.  On May 27, 2016, Pham was sentenced by U.S. District Judge Alison J. Nathan principally to a term of 40 years in prison.  On September 12, 2017, the U.S. Court of Appeals for the Second Circuit affirmed Pham’s conviction and sentence.  Thereafter, Pham made a motion that, based on intervening Supreme Court decisions, resulted in the vacatur of one of the counts of his conviction. Ultimately, the Government, with Pham’s consent, moved to vacate Pham’s earlier convictions.  On April 8, 2021, a grand jury returned a superseding indictment, reinstating certain charges and filing other new charges against Pham, and which formed the basis for Pham’s May 11, 2023 guilty plea and conviction.

    *               *                *

    In addition to the prison term, PHAM, 41, was also sentenced to life term of supervised release and a $400 special assessment.

    Ms. Sassoon praised the extraordinary investigative work of the FBI’s Washington Field Office.  She also expressed her gratitude to the FBI’s New York Joint Terrorism Task Force for the critical role it played in the investigation and prosecution.  Ms. Sassoon also thanked the Department of Justice’s National Security Division and Office of International Affairs for their significant assistance, as well as the Metropolitan Police Service/SO 15 Counter Terrorism Command at New Scotland Yard, the Crown Prosecution Service, and the Home Office for their cooperation in the investigation, extradition and prosecution.

    This prosecution is being handled by the Office’s National Security and International Narcotics Unit.  Assistant U.S. Attorney Jacob H. Gutwillig is in charge of the prosecution, with assistance from Trial Attorney John Cella of the National Security Division’s Counterterrorism Section.

    MIL Security OSI –

  • MIL-OSI USA: “Brazen and Illegal” — King, Colleagues Raise Alarm Over Trump Administration’s Attempt to Dismantle Critical National Security Agency

    US Senate News:

    Source: United States Senator for Maine Angus King

    WASHINGTON, D.C. — U.S. Senator Angus King (I-ME) and 36 of his colleagues have contacted Secretary of State Marco Rubio, expressing their deep concern regarding the growing chaos at the U.S. Department of State and the Trump Administration’s attempt to abolish the U.S. Agency for International Development (USAID). In a letter to Secretary Rubio, the Senators highlighted that USAID is a critical pillar of U.S. national security strategy, providing lifesaving aid and development support around the world to help ensure stability. By law, USAID is an independent agency and cannot be dismantled without approval from Congress.

    Yesterday, personnel at USAID were not permitted to enter the agency’s headquarters, and Elon Musk announced that President Donald Trump agreed to close the agency and move it under the State Department — despite no legal authority to do so. The Trump Administration has also furloughed thousands of senior career civil servants, including two top security officials who denied Musk and the Department of Government Efficiency access to classified documents and systems.

    “…We are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners,” wrote the senators.

    The senators continued, “The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.”

    “Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat,” wrote the senators.

    They continued, “Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.”

    The letter is signed by U.S. Senators Tim Kaine (D-VA), Cory Booker (D-NJ), Dick Durbin (D-IL), Jeff Merkley (D-OR), Ruben Gallego (D-AZ), Lisa Blunt Rochester (D-DE), Michael Bennet (D-CO), Elizabeth Warren (D-MA), Peter Welch (D-VT), Edward J. Markey (D-MA), Kirsten Gillibrand (D-NY), Bernie Sanders (I-VT), Gary Peters (D-MI), Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Ron Wyden (D-OR), Martin Heinrich (D-NM), Amy Klobuchar (D-MN), Tammy Duckworth (D-IL), Andy Kim (D-NJ), Adam Schiff (D-CA), Sheldon Whitehouse (D-RI), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Alex Padilla (D-CA), Tina Smith (D-MN), Catherine Cortez Masto (D-NV), Jack Reed (D-RI), Chris Murphy (D-CT), Jacky Rosen (D-NV), Mark Kelly (D-AZ), Brian Schatz (D-HI), Mark Warner (D-VA), Chris Van Hollen (D-MD), Chris Coons (D-DE), and Elissa Slotkin (D-MI).

    The full text of the letter is available here and below.

    +++

    Dear Secretary Rubio:

    The effective administration of U.S. foreign assistance is critical to advancing core U.S. national security priorities, including countering the influence of China, Russia and Iran. As you acknowledged at your confirmation hearing, pushing back on China in particular is a top bipartisan priority. 

    As such, we are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners.

    The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.

    Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat.

    Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.

    We request immediate clarification on the following:

    Status of USAID:

    1. Confirmation of your understanding that any effort to abolish USAID or merge USAID into the Department of State absent Congressional consultation and approval is illegal.
    2. Confirmation of your understanding that adversaries such as China, Russia and Iran are quickly moving into the vacuum left by suspended USAID programs. 
    3. The Department of State’s assessment of Mr. Elon Musk’s financial ties to China and the impact of these ties to the decision-making process of Mr. Musk and his employees.
    4. Confirmation that neither you nor any member of your leadership team are taking direction from Mr. Musk with regards to the work of the Department of State or USAID, personnel or financial decisions for either agency, or any other matters relevant to U.S. national security. 
    5. Confirmation of the names and employment status of individuals directed by Mr. Musk to engage with USAID staff, the qualifications of these individuals, and the level of their security clearances – if any.

    Personnel:

    1. Confirmation of your understanding that any unauthorized access by or disclosure of classified information to individuals without appropriate security clearance could be considered a criminal offense.
    2. The legal authority and rationale under which, on January 28, more than 50 senior career civil and foreign service USAID officials were placed on administrative leave. This move was not only unprecedented, but also inconsistent with the Office of Personnel Management’s own guidelines for the use of administrative leave.
    3. The legal authority under which, on January 28, approximately 390 USAID Institutional Support Contractors (ISCs) were given stop-work orders, and clarification of which Administration official directed the implementation of this termination.
    4. Whether any Department of State career civil and foreign service or contractors have been placed on administrative leave or removed from their roles as a result of or relating to the assistance freeze or any directives from the Office of Foreign Assistance.
    5. Clarification of which Administration official directed the implementation of this mass furlough.
    6. Clarification of whether these individuals were directed to be terminated without cause.
    7. Confirmation that personnel will not face retaliation or retribution for performing their duties under the previous Administration’s policy direction.
    8. Under what authorities and by which official’s directive career civil service, foreign service, and Personal Services Contractors (PSC), and those under other hiring authorities have been removed from their roles or limited in their ability to execute their work.
    9. Confirmation that further career civil service, foreign service and USAID contractors will not be removed from their roles without cause or receive stop work orders.
    10. Whether, upon full resumption of legally mandated foreign assistance activities, the Administration intends to re-hire contractors who have been removed from their roles.
    11. Any additional guidance provided to State and USAID staff regarding the foreign assistance freeze, including confirmation of whether direct hires, contractors, or implementing organizations have been directed not to speak publicly about the foreign assistance freeze.
    12. Public identification of the individual currently serving as the Director or Acting Director of the State Department’s Office of Foreign Assistance and as Acting Deputy Administrator of USAID, and the dates upon which this individual was appointed to each position.
    13. Confirmation of your understanding that the State Department’s Director of Foreign Assistance has no authority to issue personnel directives for USAID.

    Resumption of Foreign Assistance:

    1. The specific process and anticipated timeframe for activities to receive exemptions or waivers, as referenced in your January 28, 2025 directive to State and USAID staff.
    2. The mechanisms and metrics established for this waiver process.
    3. The timeline for full resumption of legally mandated foreign assistance activities.
    4. Clarification of what risk assessment or analysis of potential risk to U.S. national security interests were conducted prior to the decision to freeze foreign assistance activities.
    5. Confirmation of the Department of State’s obligation to comply with U.S. contract law and your responsibility as Secretary of State ensure the Department honors its commitments to contracting partners.

    We welcome your urgent attention to these questions. We and our staff stand ready to work with you to ensure U.S. foreign assistance funding continues to be deployed effectively to protect American citizens, at home and abroad.

    Respectfully,

    MIL OSI USA News –

  • MIL-OSI USA: Statement from Senate Intel Vice Chair Warner on the FBI

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, released the following statement:

    “Earlier today, my office finally received a copy of the order that was sent on Friday by the acting head of the Department of Justice to the Federal Bureau of Investigation, ordering that several of the most experienced and senior officials at the Bureau be terminated.

    “We need to be clear about why this matters. I am going to start by sharing a little bit about some of the individuals who were fired, and how they served our country.

    “At a time when we are facing threats to the homeland from ISIS and ISIS-inspired terrorists, the president fired the Assistant Director of the Counterterrorism Division. Bobby Wells began his career as an FBI special agent in 2003, and there are Americans who are alive today because he helped catch terrorists before they had a chance to carry out their plans to attack inside the United States.

    “While more than 100,000 Americans die every year due to drug overdoses, the president fired the Assistant Director of the FBI’s the Criminal, Cyber, Response, and Services Branch, which, among other myriad responsibilities, puts criminal organizations and drug traffickers behind bars. Michael Nordwall began his career with the FBI as a special agent in 2002, and he has worked at field offices in Phoenix, Tampa, Denver, Pittsburgh, as well as at FBI headquarters, investigating some of the most dangerous criminals in the United States and making sure that they face justice.

    “As we face espionage and counterintelligence threats from China, Russia, and other adversaries, the president fired the Assistant Director of the FBI’s Intelligence Branch. Ryan Young joined the FBI as a special agent in 2001, working counterintelligence cases out of Miami. In 2014, he moved to counterterrorism and established the Syria-Iraq Task Force to counter the threat from the Islamic State in Iraq and the Levant, and has also worked in Dallas and Los Angeles, managing crises and counterterrorism investigations.

    “While new technologies are transforming crimefighting and our national security, the president fired the Assistant Director of the Science and Technology Branch. Jacqueline Maguire joined the FBI as a special agent in 2000. Among her other notable achievements, she was the lead agent for the investigation of the five hijackers of American Airlines Flight 77 after the 9/11 terror attacks.

    “As the FBI builds a workforce to manage the threats of today and tomorrow and keep adversaries like China from penetrating our secrets, the president fired the Assistant Director of the Human Resources Branch. Timothy Dunham joined the FBI as a special agent in 2002, and has overseen matters relating to counterterrorism, counterintelligence, and transnational organized crime.

    “The president fired the head of the Miami field office, which oversees crimefighting in nine busy counties in South Florida, including the president’s home in Palm Beach County, as well as extraterritorial violations of American citizens in Mexico, the Caribbean, and Central and South America. Jeffrey Veltri joined the FBI as a special agent in 2002, working on matters from health care fraud to terrorism. He also deployed to Iraq, where he supported the prosecution of Saddam Hussein.

    “In the memo, the acting director of the FBI was also ordered to fire the head of the Washington Field Office, one of the most important field positions in the entire FBI, with jurisdiction over federal crimes in and around Washington, D.C. David Sundberg joined the FBI in 2002 as a special agent, and, among other stops in a distinguished career, served as a leader on the FBI’s elite Hostage Rescue Team.

    “These are people who have served our country, protected Americans, and put criminals behind bars. Now they have been pushed out simply for doing their jobs.

    “As we deal with a myriad of threats – to our homeland, to our cyber networks, to our economic competitiveness – this blatant abuse of power is making us all less safe.”

    MIL OSI USA News –

  • MIL-OSI: ChampionX Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth-quarter revenue of $912.0 million
    • Fourth-quarter net income attributable to ChampionX of $82.8 million
    • Fourth-quarter adjusted EBITDA of $212.3 million
    • Fourth-quarter income before income taxes margin of 13.0%
    • Fourth quarter adjusted EBITDA margin of 23.3%
    • Fourth-quarter cash from operating activities of $207.3 million and free cash flow of $170.1 million
    • Full-year net income attributable to ChampionX of $320.3 million
    • Full-year adjusted EBITDA of $784.7 million
    • Full-year cash from operating activities of $589.7 million and free cash flow of $460.5 million

    THE WOODLANDS, Texas, Feb. 04, 2025 (GLOBE NEWSWIRE) — ChampionX Corporation (NASDAQ: CHX) (“ChampionX” or the “Company”) today announced fourth quarter of 2024 and full year 2024 results. For the fourth quarter of 2024, revenue was $912.0 million, net income attributable to ChampionX was $82.8 million, and adjusted EBITDA was $212.3 million. Income before income taxes margin was 13.0%, and adjusted EBITDA margin was 23.3%. Cash provided by operating activities was $207.3 million, and free cash flow was $170.1 million.

    CEO Commentary

    “2024 was a year in which we continued to demonstrate the unique nature of ChampionX’s cash flow resiliency, driven by the strength of our high-margin operating model and capital-light portfolio of businesses. We delivered robust adjusted EBITDA margin expansion and generated strong free cash flow. Our differentiated performance is the direct result of our employees around the world remaining committed to serving our customers well and living our continuous improvement culture daily. I am thankful and humbled to lead such a remarkably dedicated team,” ChampionX’s President and Chief Executive Officer Sivasankaran “Soma” Somasundaram said.

    “During the fourth quarter of 2024, we generated revenue of $912 million, which increased 1% sequentially, driven by seasonal strength in our Production Chemical Technologies business. Sequential growth in Production Chemical Technologies was offset by typical seasonal declines in our Production & Automation Technologies business into the year-end holidays. For the full year 2024, we generated revenue of $3.6 billion, and we grew our North America revenue by 3% year-over-year, driven by particular strength in the Permian basin. We generated net income attributable to ChampionX of $83 million, income before income taxes margin of 13.0%, and delivered adjusted EBITDA of $212 million, representing a 23.3% adjusted EBITDA margin, our highest level as ChampionX, which speaks to the continued productivity and profitability focus of our team. For the full year 2024, we generated net income attributable to ChampionX of $320 million, income before income taxes margin of 12.2%, a 90 basis point increase over the prior year, and delivered adjusted EBITDA of $785 million, representing a 21.6% adjusted EBITDA margin, an increase of 107 basis points year-over-year.

    “We once again demonstrated our strong cash flow profile. Cash flow from operating activities was $207 million during the fourth quarter, which represented 250% of net income attributable to ChampionX, and includes a $48 million tax payment deferred from the fourth quarter of 2024 to the first quarter of 2025. We generated robust free cash flow of $170 million during the fourth quarter, converting 80% of our adjusted EBITDA for the period. Cash flow from operating activities was $590 million for the full year 2024, which represented 184% of net income attributable to ChampionX. For the full year 2024, we generated free cash flow of $460 million and achieved 59% adjusted EBITDA to free cash flow conversion. Our balance sheet and financial position remain strong, ending the year with approximately $1.2 billion of liquidity, including $508 million of cash and $675 million of available capacity on our revolving credit facility.

    “As we look ahead to 2025, we expect global oil production to grow, and given our differentiated and resilient production-oriented portfolio, we expect another year of positive performance relative to general oil and gas market activity.”

    Agreement to be Acquired by SLB

    On April 2, 2024, SLB (NYSE: SLB) and ChampionX jointly announced a definitive Agreement and Plan of Merger (the “Merger Agreement”) for SLB to purchase ChampionX in an all-stock transaction.   The transaction was unanimously approved by the ChampionX board of directors and the transaction received the approval of the ChampionX stockholders at a special meeting held on June 18, 2024.   The transaction is subject to regulatory approvals and other customary closing conditions.

    ChampionX may continue to pay its regular quarterly cash dividends with customary record and payment dates, subject to certain limitations under the Merger Agreement.   Given the pending acquisition of ChampionX by SLB, ChampionX has discontinued providing quarterly guidance and will not host a conference call or webcast to discuss its fourth quarter and full year 2024 results.

    Production Chemical Technologies

    Production Chemical Technologies revenue in the fourth quarter of 2024 was $569.7 million, an increase of $10.1 million, or 2%, sequentially, due to seasonally higher volumes in certain international markets and higher volumes in North America.

    Segment operating profit was $103.6 million and adjusted segment EBITDA was $133.5 million. Segment operating profit margin was 18.2%, an increase of 259 basis points, sequentially, and adjusted segment EBITDA margin was 23.4%, an increase of 187 basis points, sequentially, in each case due to volumes and product mix.

    Production & Automation Technologies

    Production & Automation Technologies revenue in the fourth quarter of 2024 was $269.6 million, a decrease of $6.1 million, or 2%, sequentially, due primarily to seasonality in our North American businesses into the year-end holidays.

    Revenue from digital products was $62.3 million in the fourth quarter of 2024, an increase of $4.4 million, or 7.5%, compared to $57.9 million in the third quarter of 2024.

    Segment operating profit was $39.0 million, and adjusted segment EBITDA was $70.7 million. Segment operating profit margin was 14.5%, an increase of 210 basis points, sequentially, and adjusted segment EBITDA margin was 26.2%, an increase of 100 basis points, sequentially, in each case due to productivity improvements and product mix.

    Drilling Technologies

    Drilling Technologies revenue in the fourth quarter of 2024 was $51.9 million, an increase of $0.2 million, or flat, sequentially, in-line with flat sequential U.S. rig count activity.

    Segment operating profit was $10.7 million, and adjusted segment EBITDA was $12.3 million. Segment operating profit margin was 20.6%, a decrease of 160 basis points, sequentially, and adjusted segment EBITDA margin was 23.7%, a decrease of 112 basis points, sequentially, in each case due to slightly higher operating costs.

    Reservoir Chemical Technologies

    Reservoir Chemical Technologies revenue in the fourth quarter of 2024 was $21.9 million, an increase of $1.4 million, or 7%, sequentially, due primarily to higher product volumes.

    Segment operating profit was $2.3 million, and adjusted segment EBITDA was $3.8 million. Segment operating profit margin was 10.5%, as compared to 8.2% in the prior quarter, and adjusted segment EBITDA margin was 17.1%, an increase of 106 basis points, sequentially, in each case due to higher product volumes.

    Other Business Highlights: Production Chemical Technologies and Reservoir Chemical Technologies

    • Chosen by a Canadian operator to be their sole supply partner for production chemical programs to support longer asset life for the customer’s project.
    • Awarded SAGD accounts with a Canadian oil sands operator after a well-executed ChampionX pursuit, trial and transition. This success is expected to lead to additional growth opportunities with the customer in 2025.
    • Achieved growth with a national oil company in Central Asia through technology and alignment to the customer’s key business drivers. Organized technical workshops and reviews leading to the implementation of a paraffin treatment program with the customer.
    • Secured a new contract for the provision of chemical injection skids for Drag Reducing Agents (“DRA”) as part of a new development in Eastern Africa.
    • Executed a successful field trial for an innovative AAHI (hydrate inhibitor) with a major operator in Egypt. This strategic initiative is expected to assist the customer with significantly boosting production and enhancing operational efficiency.
    • Successfully qualified corrosion inhibitors for an existing gas field in Qatar. This achievement marks a significant step in supporting asset integrity assurance and commitment to delivering reliable solutions to the industry.
    • Qualified a new Kinetic Hydrate Inhibitor for a major gas field operated by a major national oil company in the Middle East region. This innovative solution delivers higher value, efficiency, and a lower total cost of operation.
    • Instituted notable customer-centric innovations, including the Right Products campaign which delivered 12 new chemistry innovations, the ParaClear(R) program for paraffin remediation, and the full-time Flowback Team with new product lines and digital tools.
    • Advanced digital capabilities, including MyAnalytics platform for sales representatives, the Sensor Team for equipment monitoring, and a trial of a Centralized Ordering system to streamline orders.
    • Delivered on our first RenewIQ+(R) opportunity, pumping a Reservoir Chemical Technologies chemistry in conjunction with our standard RenewIQ(R) offering.
    • Gained significant commercial traction among key customers with Reservoir Chemical Technologies’ new acidizing technology. This innovative system has been evaluated by a major Middle East operator and recognized as one of the top-performing solutions in the market. This milestone underscores our commitment to providing sustainable, high-performance solutions that align with the evolving needs of the industry.

    Other Business Highlights: Production & Automation Technologies

    • Expanded the portfolio of recently acquired RMSpumptools into North America, delivering new solutions to a major oil company in the Permian basin using permanent magnet motor technology. Additional interest and growth with customers are building into 2025.
    • Introduced the SMARTEN™ Lite rod pump controller, which offers an economical automation solution for marginal, low-producing rod pump wells. This new technology was successfully operating on 60 new wells in Q4 2024, helping operators gain 24/7 surveillance and remote control of their rod pump assets with a low-cost edge computing device that requires minimal hardware and setup.
    • Continuing to see strong market penetration and interest in Artificial Lift Performance’s Pump Checker software offering. Software license counts have increased by more than 30% since the February 2024 acquisition, with a focused growth on gas lift/plunger lift well applications.
    • Successfully added well density to a performance-based integrated production optimization (“IPO”) project recently secured with a customer in the Permian basin, and extended the reach of this holistic solution with an additional customer in the Permian. The IPO solution combines artificial lift, chemicals and chemical injection systems with digital automation, controls, data management, and optimization services to drive incremental production with effective cost management for operators.
    • Deployed a large SOOFIE™ continuous emissions monitoring system for an operator in the Middle East. Based on initial results, the customer plans to deploy additional fixed emissions monitoring systems as well as incorporate the ChampionX Aura™ optical gas imaging camera in the field. Our technology was selected based on its proven capabilities and ChampionX collaboration with the field team to assure a steady stream of high-quality data. The SOOFIE continuous monitoring system provides real-time, 24/7 surveillance of methane and other greenhouse gases at oil and gas facilities and landfills.
    • Completed installations of ChampionX’s AnX™ coiled rod technology with a Middle East operator. Based on the excellent performance of this corrosion-resistant coiled rod, the customer has ordered product to install in additional wells in 2025. AnX recently won the Gulf Energy Excellence award for Best Production Technology and has demonstrated dramatic run life improvement in highly corrosive applications in multiple geographies around the world.
    • Successfully completed the initial installations of a full rod pumping solution on a very challenging application in Colombia. The solution brings together both the downhole rods and pump with ChampionX’s rod lift production optimization software. The customer reports that results are exceeding expectations, with production increasing by 35% while reducing operating costs through optimizing resources required to operate the wells.
    • Expanded production optimization software capabilities with customers in Peru and Argentina. Our XSPOC™ software has been implemented across more than 300 wells in Peru and additional licenses are planned in Q1 2025. In Argentina, a customer implemented the software across three fields. By delivering diagnostic insights and actionable recommendations, XSPOC software enables customers to enhance well performance, increase production, and reduce operating costs.

    About Non-GAAP Measures

    In addition to financial results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), this news release presents non-GAAP financial measures. Management believes that adjusted EBITDA, adjusted EBITDA margin, adjusted net income attributable to ChampionX and adjusted diluted earnings per share attributable to ChampionX, provide useful information to investors regarding the Company’s financial condition and results of operations because they reflect the core operating results of our businesses and help facilitate comparisons of operating performance across periods. In addition, free cash flow, free cash flow to adjusted EBITDA ratio, and free cash flow to revenue ratio are used by management to measure our ability to generate positive cash flow for debt reduction and to support our strategic objectives. Although management believes the aforementioned non-GAAP financial measures are good tools for internal use and the investment community in evaluating ChampionX’s overall financial performance, the foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying financial tables.

    About ChampionX

    ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.ChampionX.com. 

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements relating to the proposed transaction between SLB and ChampionX, including statements regarding the benefits of the transaction and the anticipated timing of the transaction, and information regarding the businesses of SLB and ChampionX, including expectations regarding outlook and all underlying assumptions, SLB’s and ChampionX’s objectives, plans and strategies, information relating to operating trends in markets where SLB and ChampionX operate, statements that contain projections of results of operations or of financial condition and all other statements other than statements of historical fact that address activities, events or developments that SLB or ChampionX intends, expects, projects, believes or anticipates will or may occur in the future.   Such statements are based on management’s beliefs and assumptions made based on information currently available to management.   All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “guidance,” “expects,” “believes,” “anticipates,” “should,” “estimates,” “intends,” “plans,” “seeks,” “targets,” “may,” “can,” “believe,” “predict,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “ambition,” “goal,” “scheduled,” “think,” “could,” “would,” “will,” “see,” “likely,” and other similar expressions or variations, but not all forward-looking statements include such words.   These forward-looking statements involve known and unknown risks and uncertainties, and which may cause SLB’s or ChampionX’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements.   Factors and risks that may impact future results and performance include, but are not limited to those factors and risks described in Part I, “Item 1. Business”, “Item 1A. Risk Factors”, and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in SLB’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (the “SEC”) on January 24, 2024 and Part 1, Item 1A, “Risk Factors” in ChampionX’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 6, 2024, and each of their respective, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These include, but are not limited to, and in each case as a possible result of the proposed transaction on each of SLB and ChampionX: the ultimate outcome of the proposed transaction between SLB and ChampionX, including the effect of the announcement of the proposed transaction; the ability to operate the SLB and ChampionX respective businesses, including business disruptions; difficulties in retaining and hiring key personnel and employees; the ability to maintain favorable business relationships with customers, suppliers and other business partners; the terms and timing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction; the anticipated or actual tax treatment of the proposed transaction; the ability to satisfy closing conditions to the completion of the proposed transaction (including the adoption of the merger agreement in respect of the proposed transaction by ChampionX stockholders); other risks related to the completion of the proposed transaction and actions related thereto; the ability of SLB and ChampionX to integrate the business successfully and to achieve anticipated synergies and value creation from the proposed transaction; changes in demand for SLB’s or ChampionX’s products and services; global market, political and economic conditions, including in the countries in which SLB and ChampionX operate; the ability to secure government regulatory approvals on the terms expected, at all or in a timely manner; the extent of growth of the oilfield services market generally, including for chemical solutions in production and midstream operations; the global macro-economic environment, including headwinds caused by inflation, rising interest rates, unfavorable currency exchange rates, and potential recessionary or depressionary conditions; the impact of shifts in prices or margins of the products that SLB or ChampionX sells or services that SLB or ChampionX provides, including due to a shift towards lower margin products or services; cyber-attacks, information security and data privacy; the impact of public health crises, such as pandemics (including COVID-19) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; trends in crude oil and natural gas prices, including trends in chemical solutions across the oil and natural gas industries, that may affect the drilling and production activity, profitability and financial stability of SLB’s and ChampionX’s customers and therefore the demand for, and profitability of, their products and services; litigation and regulatory proceedings, including any proceedings that may be instituted against SLB or ChampionX related to the proposed transaction; failure to effectively and timely address energy transitions that could adversely affect the businesses of SLB or ChampionX, results of operations, and cash flows of SLB or ChampionX; and disruptions of SLB’s or ChampionX’s information technology systems.

    These risks, as well as other risks related to the proposed transaction, are included in the Form S-4 and proxy statement/prospectus that was filed with the SEC in connection with the proposed transaction.   While the list of factors presented here is, and the list of factors presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to SLB’s and ChampionX’s respective periodic reports and other filings with the SEC, including the risk factors identified in SLB’s and ChampionX’s Annual Reports on Form 10-K, respectively, and SLB’s and ChampionX’s subsequent Quarterly Reports on Form 10-Q. The forward-looking statements included in this communication are made only as of the date hereof.   Neither SLB nor ChampionX undertakes any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

    Investor Contact: Byron Pope
    byron.pope@championx.com 
    281-602-0094

    Media Contact: John Breed
    john.breed@championx.com 
    281-403-5751

    CHAMPIONX CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (UNAUDITED)

      Three Months Ended   Years Ended
      Dec 31,   Sep 30,   Dec 31,   December 31,
    (in thousands, except per share amounts)   2024       2024       2023       2024       2023  
    Revenue $ 912,037     $ 906,533     $ 943,555     $ 3,633,983     $ 3,758,285  
    Cost of goods and services   600,154       608,764       661,337       2,445,281       2,618,646  
    Gross profit   311,883       297,769       282,218       1,188,702       1,139,639  
    Selling, general and administrative expense   184,722       180,501       147,415       720,632       633,032  
    (Gain) loss on sale-leaseback transaction and disposal group   —       57       —       (29,826 )     12,965  
    Interest expense, net   12,375       14,137       13,808       55,868       54,562  
    Foreign currency transaction losses (gains), net   1,697       3,505       14,651       2,490       36,334  
    Other income, net   (5,026 )     (2,176 )     (7,584 )     (3,337 )     (21,078 )
    Income before income taxes   118,115       101,745       113,928       442,875       423,824  
    Provision for income taxes   33,204       28,078       35,771       115,746       105,105  
    Net income   84,911       73,667       78,157       327,129       318,719  
    Net income attributable to noncontrolling interest   2,145       1,659       959       6,863       4,481  
    Net income attributable to ChampionX $ 82,766     $ 72,008     $ 77,198     $ 320,266     $ 314,238  
                       
    Earnings per share attributable to ChampionX:                  
    Basic $ 0.43     $ 0.38     $ 0.40     $ 1.68     $ 1.60  
    Diluted $ 0.43     $ 0.37     $ 0.39     $ 1.65     $ 1.57  
                       
    Weighted-average shares outstanding:                  
    Basic   190,586       190,496       193,191       190,578       196,083  
    Diluted   193,487       193,362       196,649       193,643       199,906  
                                           

    CHAMPIONX CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (UNAUDITED)

      December 31,
    (in thousands)   2024       2023  
    Assets      
    Current Assets:      
    Cash and cash equivalents $ 507,681     $ 288,557  
    Receivables, net   466,782       534,534  
    Inventories, net   496,831       521,549  
    Prepaid expenses and other current assets   92,603       80,777  
    Total current assets   1,563,897       1,425,417  
           
    Property, plant and equipment, net   755,422       773,552  
    Goodwill   718,944       669,064  
    Intangible assets, net   258,614       243,553  
    Other non-current assets   173,375       130,116  
    Total assets $ 3,470,252     $ 3,241,702  
           
    Liabilities      
    Current portion of long-term debt $ 6,203     $ 6,203  
    Accounts payable   455,531       451,680  
    Other current liabilities   324,138       324,866  
    Total current liabilities   785,872       782,749  
           
    Long-term debt   591,453       594,283  
    Other long-term liabilities   261,749       203,639  
    Stockholders’ equity:      
    ChampionX stockholders’ equity   1,846,437       1,676,622  
    Noncontrolling interest   (15,259 )     (15,591 )
    Total liabilities and equity $ 3,470,252     $ 3,241,702  
                   

    CHAMPIONX CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (UNAUDITED)

      Years Ended December 31,
    (in thousands)   2024       2023  
    Cash flows from operating activities:      
    Net income $ 327,129     $ 318,719  
    Depreciation and amortization   245,825       235,936  
    (Gain) loss on sale-leaseback transaction and disposal group   (29,826 )     12,965  
    Loss on Argentina Blue Chip Swap transaction   7,086       —  
    Deferred income taxes   (22,873 )     (22,272 )
    (Gain) on disposal of fixed assets   (443 )     (1,046 )
    Receivables   76,569       70,021  
    Inventories   (8,924 )     18,753  
    Accounts payable   (399 )     (53,891 )
    Other assets   (15,152 )     20,395  
    Leased assets   (33,767 )     (51,247 )
    Other operating items, net   44,456       (8,062 )
    Net cash provided by operating activities   589,681       540,271  
           
    Cash flows from investing activities:      
    Capital expenditures   (141,310 )     (142,324 )
    Proceeds from sale of fixed assets   12,113       14,545  
    Proceeds from sale-leaseback transaction   44,292       —  
    Purchase of investments   (31,526 )     —  
    Sale of investments   24,358       —  
    Acquisitions, net of cash acquired   (123,269 )     —  
    Net cash used for investing activities   (215,342 )     (127,779 )
           
    Cash flows from financing activities:      
    Proceeds from long-term debt   —       15,500  
    Repayment of long-term debt   (6,203 )     (45,176 )
    Repurchases of common stock   (49,399 )     (277,575 )
    Dividends paid   (70,531 )     (64,980 )
    Other   (24,324 )     (934 )
    Net cash used for financing activities   (150,457 )     (373,165 )
           
    Effect of exchange rate changes on cash and cash equivalents   (4,758 )     (957 )
           
    Net increase in cash and cash equivalents   219,124       38,370  
    Cash and cash equivalents at beginning of period   288,557       250,187  
    Cash and cash equivalents at end of period $ 507,681     $ 288,557  
                   

    CHAMPIONX CORPORATION
    BUSINESS SEGMENT DATA
    (UNAUDITED)

      Three Months Ended   Years Ended
      Dec 31,   Sep 30,   Dec 31,   December 31,
    (in thousands)   2024       2024       2023       2024       2023  
    Segment revenue:                  
    Production Chemical Technologies $ 569,662     $ 559,539     $ 634,137     $ 2,288,886     $ 2,404,377  
    Production & Automation Technologies   269,568       275,700       241,294       1,042,369       1,003,146  
    Drilling Technologies   51,942       51,792       46,821       211,828       215,721  
    Reservoir Chemical Technologies   21,937       20,531       21,402       94,296       96,154  
    Corporate and other   (1,072 )     (1,029 )     (99 )     (3,396 )     38,887  
    Total revenue $ 912,037     $ 906,533     $ 943,555     $ 3,633,983     $ 3,758,285  
                       
    Income (loss) before income taxes:                
    Segment operating profit (loss):                  
    Production Chemical Technologies $ 103,567     $ 87,260     $ 102,179     $ 364,047     $ 350,216  
    Production & Automation Technologies   39,027       34,136       22,110       123,840       118,409  
    Drilling Technologies   10,703       11,501       8,679       78,469       45,481  
    Reservoir Chemical Technologies   2,294       1,675       3,907       12,078       10,541  
    Total segment operating profit   155,591       134,572       136,875       578,434       524,647  
    Corporate and other   25,101       18,690       9,139       79,691       46,261  
    Interest expense, net   12,375       14,137       13,808       55,868       54,562  
    Income before income taxes $ 118,115     $ 101,745     $ 113,928     $ 442,875     $ 423,824  
                       
    Operating profit margin / income (loss) before income taxes margin:                  
    Production Chemical Technologies   18.2 %     15.6 %     16.1 %     15.9 %     14.6 %
    Production & Automation Technologies   14.5 %     12.4 %     9.2 %     11.9 %     11.8 %
    Drilling Technologies   20.6 %     22.2 %     18.5 %     37.0 %     21.1 %
    Reservoir Chemical Technologies   10.5 %     8.2 %     18.3 %     12.8 %     11.0 %
    ChampionX Consolidated   13.0 %     11.2 %     12.1 %     12.2 %     11.3 %
                       
    Adjusted EBITDA                  
    Production Chemical Technologies $ 133,475     $ 120,622     $ 139,107     $ 489,549     $ 506,991  
    Production & Automation Technologies   70,739       69,604       52,800       259,531       232,672  
    Drilling Technologies   12,321       12,867       10,361       54,411       51,986  
    Reservoir Chemical Technologies   3,751       3,292       5,501       18,343       18,498  
    Corporate and other   (8,021 )     (8,873 )     (9,624 )     (37,112 )     (38,926 )
    Adjusted EBITDA $ 212,265     $ 197,512     $ 198,145     $ 784,722     $ 771,221  
                       
    Adjusted EBITDA margin                  
    Production Chemical Technologies   23.4 %     21.6 %     21.9 %     21.4 %     21.1 %
    Production & Automation Technologies   26.2 %     25.2 %     21.9 %     24.9 %     23.2 %
    Drilling Technologies   23.7 %     24.8 %     22.1 %     25.7 %     24.1 %
    Reservoir Chemical Technologies   17.1 %     16.0 %     25.7 %     19.5 %     19.2 %
    ChampionX Consolidated   23.3 %     21.8 %     21.0 %     21.6 %     20.5 %
                                           

    CHAMPIONX CORPORATION
    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
    (UNAUDITED)

      Three Months Ended   Years Ended
      Dec 31,   Sep 30,   Dec 31,   December 31,
    (in thousands)   2024       2024       2023       2024       2023  
    Net income attributable to ChampionX $ 82,766     $ 72,008     $ 77,198     $ 320,266     $ 314,238  
    Pre-tax adjustments:                  
    (Gain) loss on sale-leaseback transaction and disposal group(1)   —       57       —       (29,826 )     12,965  
    Russia sanctions compliance and impacts(2)   73       109       160       366       1,209  
    Restructuring and other related charges   2,704       5,317       2,407       17,657       13,387  
    Merger transaction costs(3)   14,434       8,312       —       37,805       245  
    Acquisition costs and related adjustments(4)   75       753       (6,817 )     2,634       (12,670 )
    Intellectual property defense   158       69       638       1,537       1,545  
    Merger-related indemnification responsibility(5)   100       —       —       100       722  
    Tulsa, Oklahoma storm damage   —       —       660       305       3,162  
    Foreign currency transaction losses, net   1,697       3,505       14,651       2,490       36,334  
    Loss on Argentina Blue Chip Swap transaction   —       —       —       7,086       —  
    Tax impact of adjustments   (5,565 )     (4,259 )     (2,600 )     (10,480 )     (12,650 )
    Adjusted net income attributable to ChampionX   96,442       85,871       86,297       349,940       358,487  
    Tax impact of adjustments   5,565       4,259       2,600       10,480       12,650  
    Net income attributable to noncontrolling interest   2,145       1,659       959       6,863       4,481  
    Depreciation and amortization   62,534       63,508       58,710       245,825       235,936  
    Provision for income taxes   33,204       28,078       35,771       115,746       105,105  
    Interest expense, net   12,375       14,137       13,808       55,868       54,562  
    Adjusted EBITDA $ 212,265     $ 197,512     $ 198,145     $ 784,722     $ 771,221  

    _______________________

    (1) Amounts represents the and the gain on the sale and leaseback of certain buildings and land during 2024. For the year ended December 31, 2023, the loss recorded to properly adjust the carrying value of our Chemical Technologies operations in Russia to the lower of carrying value or fair value less costs to sell .
    (2) Includes charges incurred related to legal and professional fees to comply with, as well as additional foreign currency exchange losses associated with, the sanctions imposed in Russia.
    (3) Includes costs incurred during 2024 in relation to the Merger Agreement with Schlumberger Limited, including third party legal and professional fees.
    (4) Includes costs incurred for the acquisition of businesses and revenue associated with the amortization of a liability established as part of the merger transaction with Ecolab Inc. (“Ecolab”) to acquire the Chemical Technologies business, representing unfavorable terms under the Cross Supply Agreement, as well as costs incurred for the acquisition of businesses. During the fourth quarter of 2023, we recorded a fair value adjustment to contingent consideration on a prior acquisition as well as the settlement of an item pursuant to the tax matters agreement with Ecolab.
    (5) Expense related to the June 3, 2020 merger transaction with Ecolab in which we acquired the Chemical Technologies business.
       
      Three Months Ended   Years Ended
      Dec 31,   Sep 30,   Dec 31,   December 31,
    (in thousands)   2024       2024       2023       2024       2023  
    Diluted earnings per share attributable to ChampionX $ 0.43     $ 0.37     $ 0.39     $ 1.65     $ 1.57  
    Per share adjustments:                  
    (Gain) loss on sale-leaseback transaction and disposal group   —       —       —       (0.15 )     0.06  
    Russia sanctions compliance and impacts   —       —       —           —  
    Restructuring and other related charges   0.01       0.03       0.01       0.09       0.07  
    Merger transaction costs   0.07       0.04       —       0.20       —  
    Acquisition costs and related adjustments   —       —       (0.03 )     0.01       (0.06 )
    Intellectual property defense   —       —       —       0.01       0.01  
    Merger-related indemnification responsibility   —       —       —       —       —  
    Tulsa, Oklahoma storm damage   —       —       0.01       —       0.02  
    Foreign currency transaction losses   0.01       0.02       0.07       0.01       0.18  
    Loss on Argentina Blue Chip Swap transaction   —       —       —       0.04       —  
    Tax impact of adjustments   (0.02 )     (0.02 )     (0.01 )     (0.05 )     (0.06 )
    Adjusted diluted earnings per share attributable to ChampionX $ 0.50     $ 0.44     $ 0.44     $ 1.81     $ 1.79  
                                           

    CHAMPIONX CORPORATION
    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
    (UNAUDITED)

      Three Months Ended   Years Ended
      Dec 31,   Sep 30,   Dec 31,   December 31,
    (in thousands)   2024       2024       2023       2024       2023  
    Production Chemical Technologies                  
    Segment operating profit $ 103,567     $ 87,260     $ 102,179     $ 364,047     $ 350,216  
    Non-GAAP adjustments   2,251       7,073       11,194       19,108       51,717  
    Depreciation and amortization   27,657       26,289       25,734       106,394       105,058  
    Segment adjusted EBITDA $ 133,475     $ 120,622     $ 139,107     $ 489,549     $ 506,991  
                       
    Production & Automation Technologies                  
    Segment operating profit $ 39,027     $ 34,136     $ 22,110     $ 123,840     $ 118,409  
    Non-GAAP adjustments   75       1,656       1,231       9,807       5,246  
    Depreciation and amortization   31,637       33,812       29,459       125,884       109,017  
    Segment adjusted EBITDA $ 70,739     $ 69,604     $ 52,800     $ 259,531     $ 232,672  
                       
    Drilling Technologies                  
    Segment operating profit $ 10,703     $ 11,501     $ 8,679     $ 78,469     $ 45,481  
    Non-GAAP adjustments   306       54       109       (29,523 )     313  
    Depreciation and amortization   1,312       1,312       1,573       5,465       6,192  
    Segment adjusted EBITDA $ 12,321     $ 12,867     $ 10,361     $ 54,411     $ 51,986  
                       
    Reservoir Chemical Technologies                  
    Segment operating profit $ 2,294     $ 1,675     $ 3,907     $ 12,078     $ 10,541  
    Non-GAAP adjustments   39       3       4       69       1,486  
    Depreciation and amortization   1,418       1,614       1,590       6,196       6,471  
    Segment adjusted EBITDA $ 3,751     $ 3,292     $ 5,501     $ 18,343     $ 18,498  
                       
    Corporate and other                  
    Segment operating profit $ (37,476 )   $ (32,827 )   $ (22,947 )   $ (135,559 )   $ (100,823 )
    Non-GAAP adjustments   16,570       9,336       (839 )     40,693       (1,863 )
    Depreciation and amortization   510       481       354       1,886       9,198  
    Interest expense, net   12,375       14,137       13,808       55,868       54,562  
    Segment adjusted EBITDA $ (8,021 )   $ (8,873 )   $ (9,624 )   $ (37,112 )   $ (38,926 )
                                           

    Free Cash Flow

      Three Months Ended   Years Ended
      Dec 31,   Sep 30,   Dec 31,   December 31,
    (in thousands)   2024       2024       2023       2024       2023  
    Free Cash Flow                  
    Cash provided by operating activities $ 207,250     $ 141,298     $ 168,953     $ 589,681     $ 540,271  
    Less: Capital expenditures, net of proceeds from sale of fixed assets   (37,117 )     (33,248 )     (29,142 )     (129,197 )     (127,779 )
    Free cash flow $ 170,133     $ 108,050     $ 139,811     $ 460,484     $ 412,492  
                       
    Cash From Operating Activities to Revenue Ratio                  
    Cash provided by operating activities $ 207,250     $ 141,298     $ 168,953     $ 589,681     $ 540,271  
    Revenue $ 912,037     $ 906,533     $ 943,555     $ 3,633,983     $ 3,758,285  
                       
    Cash from operating activities to revenue ratio   23 %     16 %     18 %     16 %     14 %
                       
    Free Cash Flow to Revenue Ratio                  
    Free cash flow $ 170,133     $ 108,050     $ 139,811     $ 460,484     $ 412,492  
    Revenue $ 912,037     $ 906,533     $ 943,555     $ 3,633,983     $ 3,758,285  
                       
    Free cash flow to revenue ratio   19 %     12 %     15 %     13 %     11 %
                       
    Free Cash Flow to Adjusted EBITDA Ratio                  
    Free cash flow $ 170,133     $ 108,050     $ 139,811     $ 460,484     $ 412,492  
    Adjusted EBITDA $ 212,265     $ 197,512     $ 198,145     $ 784,722     $ 771,221  
                       
    Free cash flow to adjusted EBITDA ratio   80 %     55 %     71 %     59 %     53 %

    The MIL Network –

  • MIL-OSI USA: Kaine Leads 37 Senators in Raising Alarm Over Trump Administration Chaos at Critical National Security Agencies

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA), a member of the Senate Foreign Relations Committee, led 37 of his colleagues in sending a letter to Secretary of State Marco Rubio expressing their deep concern regarding the growing chaos and dysfunction at the U.S. Department of State and the Trump Administration’s illegal attempt to destroy the U.S. Agency for International Development (USAID). USAID is a critical pillar of U.S. national security strategy, providing lifesaving aid and development support around the world to help ensure stability. Yesterday, personnel at USAID were not permitted to enter the agency’s headquarters, and Elon Musk announced that President Donald Trump agreed to close the agency and move it under the State Department – which Trump has no legal authority to do. The Trump Administration, led by Musk, has also furloughed thousands of senior career civil servants, including two top security officials who denied Musk and the Department of Government Efficiency access to classified documents and systems.

    “…We are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners,” wrote the senators.

    The senators continued, “The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.”

    “Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat,” wrote the senators.

    They continued, “Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.”

    The letter is signed by U.S. Senators Cory Booker (D-NJ), Dick Durbin (D-IL), Jeff Merkley (D-OR), Ruben Gallego (D-AZ), Lisa Blunt Rochester (D-DE), Michael Bennet (D-CO), Elizabeth Warren (D-MA), Peter Welch (D-VT), Edward J. Markey (D-MA), Kirsten Gillibrand (D-NY), Bernie Sanders (I-VT), Gary Peters (D-MI), Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Ron Wyden (D-OR), Martin Heinrich (D-NM), Amy Klobuchar (D-MN), Tammy Duckworth (D-IL), Andy Kim (D-NJ), Adam Schiff (D-CA), Angus S. King (I-ME), Sheldon Whitehouse (D-RI), John Hickenlooper (D-CO), Mazie K. Hirono (D-HI), Alex Padilla (D-CA), Tina Smith (D-MN), Catherine Cortez Masto (D-NV), Jack Reed (D-RI), Chris Murphy (D-CT), Jacky Rosen (D-NV), Mark Kelly (D-AZ), Brian Schatz (D-HI), Mark R. Warner (D-VA), Chris Van Hollen (D-MD), Chris Coons (D-DE), Elissa Slotkin (D-MI), and Reverend Raphael Warnock (D-GA).

    The full text of the letter is available here and below.

    Dear Secretary Rubio:

    The effective administration of U.S. foreign assistance is critical to advancing core U.S. national security priorities, including countering the influence of China, Russia and Iran. As you acknowledged at your confirmation hearing, pushing back on China in particular is a top bipartisan priority. 

    As such, we are deeply concerned by reports of not only growing chaos and dysfunction at the Department of State, but the Administration’s brazen and illegal attempts to destroy the U.S. Agency for International Development (USAID). Mass personnel furloughs of dubious legality and abrupt, blanket stop-work orders without regard to relevant appropriations laws are causing immediate harm to U.S. national security, placing U.S. citizens at risk, disrupting life-saving work and breaking the U.S. government’s contractual obligations to private sector partners.

    The Administration’s failure to consult with Congress prior to taking these steps violates the law and impedes Congress’s constitutional duty to conduct oversight of funding, personnel and the nation’s foreign policy. The Administration’s failure to expend funds appropriated on a bipartisan basis by Congress would violate the Impoundment Control Act.

    Foreign assistance is critical to supporting U.S. strategic interests around the world. Foreign assistance protects U.S. national security, advances U.S. values, and ensures the U.S. is the partner of choice for everything from defense procurement to cutting edge scientific research. China, Russia and Iran are already moving rapidly to exploit the vacuum and instability left by the U.S.’s sudden global retreat.

    Every Administration has the right to review and adjust ongoing assistance programming. However, attempting to arbitrarily turn off core functions of a critical U.S. national security agency, without Congressional consideration or any metric-based review and absent legal authority to do so, is unprecedented and deeply disturbing.

    We request immediate clarification on the following:

    Status of USAID:

    1. Confirmation of your understanding that any effort to abolish USAID or merge USAID into the Department of State absent Congressional consultation and approval is illegal.
    2. Confirmation of your understanding that adversaries such as China, Russia and Iran are quickly moving into the vacuum left by suspended USAID programs. 
    3. The Department of State’s assessment of Mr. Elon Musk’s financial ties to China and the impact of these ties to the decision-making process of Mr. Musk and his employees.
    4. Confirmation that neither you nor any member of your leadership team are taking direction from Mr. Musk with regards to the work of the Department of State or USAID, personnel or financial decisions for either agency, or any other matters relevant to U.S. national security. 
    5. Confirmation of the names and employment status of individuals directed by Mr. Musk to engage with USAID staff, the qualifications of these individuals, and the level of their security clearances – if any.

    Personnel:

    1. Confirmation of your understanding that any unauthorized access by or disclosure of classified information to individuals without appropriate security clearance could be considered a criminal offense.
    2. The legal authority and rationale under which, on January 28, more than 50 senior career civil and foreign service USAID officials were placed on administrative leave. This move was not only unprecedented, but also inconsistent with the Office of Personnel Management’s own guidelines for the use of administrative leave.
    3. The legal authority under which, on January 28, approximately 390 USAID Institutional Support Contractors (ISCs) were given stop-work orders, and clarification of which Administration official directed the implementation of this termination.
    4. Whether any Department of State career civil and foreign service or contractors have been placed on administrative leave or removed from their roles as a result of or relating to the assistance freeze or any directives from the Office of Foreign Assistance.
    5. Clarification of which Administration official directed the implementation of this mass furlough.
    6. Clarification of whether these individuals were directed to be terminated without cause.
    7. Confirmation that personnel will not face retaliation or retribution for performing their duties under the previous Administration’s policy direction.
    8. Under what authorities and by which official’s directive career civil service, foreign service, and Personal Services Contractors (PSC), and those under other hiring authorities have been removed from their roles or limited in their ability to execute their work.
    9. Confirmation that further career civil service, foreign service and USAID contractors will not be removed from their roles without cause or receive stop work orders.
    10. Whether, upon full resumption of legally mandated foreign assistance activities, the Administration intends to re-hire contractors who have been removed from their roles.
    11. Any additional guidance provided to State and USAID staff regarding the foreign assistance freeze, including confirmation of whether direct hires, contractors, or implementing organizations have been directed not to speak publicly about the foreign assistance freeze.
    12. Public identification of the individual currently serving as the Director or Acting Director of the State Department’s Office of Foreign Assistance and as Acting Deputy Administrator of USAID, and the dates upon which this individual was appointed to each position.
    13. Confirmation of your understanding that the State Department’s Director of Foreign Assistance has no authority to issue personnel directives for USAID.

    Resumption of Foreign Assistance:

    1. The specific process and anticipated timeframe for activities to receive exemptions or waivers, as referenced in your January 28, 2025 directive to State and USAID staff.
    2. The mechanisms and metrics established for this waiver process.
    3. The timeline for full resumption of legally mandated foreign assistance activities.
    4. Clarification of what risk assessment or analysis of potential risk to U.S. national security interests were conducted prior to the decision to freeze foreign assistance activities.
    5. Confirmation of the Department of State’s obligation to comply with U.S. contract law and your responsibility as Secretary of State ensure the Department honors its commitments to contracting partners.

    We welcome your urgent attention to these questions. We and our staff stand ready to work with you to ensure U.S. foreign assistance funding continues to be deployed effectively to protect American citizens, at home and abroad.

    Respectfully,

    MIL OSI USA News –