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  • MIL-OSI Asia-Pac: Marching Towards Atmanirbharta: India’s Defence Revolution

    Source: Government of India (2)

    Marching Towards Atmanirbharta: India’s Defence Revolution

    Domestic production hit ₹1.27 lakh crore in FY 2023-24, with exports growing 30x in a decade

    Posted On: 29 OCT 2024 11:21AM by PIB Delhi

    Introduction

    The recent inauguration of the TATA Aircraft Complex at the TATA Advanced Systems Limited (TASL) Campus in Vadodara, Gujarat, on October 28, 2024, marks a key milestone in India’s journey toward Atmanirbharta in defence. This facility, dedicated to manufacturing C-295 military transport aircraft, becomes the first private sector Final Assembly Line (FAL) for military aircraft in India, underscoring the government’s commitment to enhancing indigenous production capabilities. Under the program, 56 C-295 aircraft will be delivered, with the initial 16 arriving from Airbus in Spain and the remaining 40 produced domestically. This initiative exemplifies India’s shift toward self-reliance in defence manufacturing, aimed at strengthening operational readiness and reducing dependency on foreign imports.

    India’s commitment to Atmanirbharta in defence is further evidenced by its transformation from a major arms importer to an emerging centre for indigenous production. Driven by strategic government policies, this shift reached a landmark in FY 2023-24, with the Ministry of Defence reporting an unprecedented ₹1.27 lakh crore in domestic defence production. Once reliant on foreign suppliers, India now places a high priority on self-reliant manufacturing to meet its security needs, reinforcing its vision to strengthen national resilience and reduce dependency on external sources.

     

    Rise in India’s Defence Production

    India has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24, driven by the successful implementation of government policies and initiatives led by Prime Minister Shri Narendra Modi, focusing on attaining
    Atmanirbharta. According to data from all Defence Public Sector Undertakings (DPSUs), other public sector units manufacturing defence items, and private companies, the value of defence production has surged to a record high of ₹1,27,265 crore, representing an impressive increase of approximately 174% from ₹46,429 crore in 2014-15.

    Historically, India relied heavily on foreign countries for its defence needs, with about 65-70% of defence equipment being imported. However, this landscape has dramatically shifted, with around 65% of defence equipment now manufactured within India. This transformation reflects the country’s commitment to self-reliance in this critical sector and underscores the strength of its defence industrial base, which comprises 16 Defence Public Sector Units (DPSUs), over 430 licensed companies, and approximately 16,000 Micro, Small, and Medium Enterprises (MSMEs). Notably, 21% of this production comes from the private sector, bolstering India’s journey toward self-reliance.

    As part of the Make in India initiative, major defence platforms such as the Dhanush Artillery Gun System, Advanced Towed Artillery Gun System (ATAGS), Main Battle Tank (MBT) Arjun, Light Combat Aircraft (LCA) Tejas, submarines, frigates, corvettes, and the recently commissioned INS Vikrant have been developed, reflecting the growing capabilities of India’s defence sector.

    Consequently, the annual defence production has not only crossed ₹1.27 lakh crore but is also on track to reach a target of ₹1.75 lakh crore in the current fiscal year. With aspirations to achieve ₹3 lakh crore in defence production by 2029, India is solidifying its position as a global manufacturing hub for defence.

     

    India’s Defence Exports Surge

    India’s defence exports have reached an all-time high, surging from ₹686 crore in FY 2013-14 to ₹21,083 crore in FY 2023-24, reflecting a remarkable increase of over 30 times in export value over the past decade.

    This achievement is driven by effective policy reforms, initiatives, and improvements in the ease of doing business implemented by the government, all aimed at attaining self-reliance in defence. Notably, defence exports also experienced a substantial growth of 32.5% over the previous fiscal year, rising from ₹15,920 crore.

    India’s export portfolio boasts a diverse range of advanced defence equipment, including bulletproof jackets and helmets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes. A noteworthy highlight is the inclusion of ‘Made in Bihar’ boots in the Russian Army’s equipment, marking a significant milestone for Indian products in the global defence market and showcasing the country’s high manufacturing standards.

    Currently, India exports to over 100 nations, with the top three destinations for defence exports in 2023-24 being the USA, France, and Armenia. According to Raksha Mantri Shri Rajnath Singh, the target is to further increase defence exports to ₹50,000 crore by 2029. This expanding international footprint underscores India’s commitment to becoming a reliable defence partner globally while bolstering its economic growth through enhanced defence production and exports.

    Key Government Initiatives

    In recent years, the Indian government has implemented a series of transformative initiatives aimed at bolstering the country’s defence production capabilities and achieving self-reliance. These measures are designed to attract investment, enhance domestic manufacturing, and streamline procurement processes. From liberalizing foreign direct investment (FDI) limits to prioritizing indigenous production, these initiatives reflect a robust commitment to strengthening India’s defence industrial base. The following points outline the key government initiatives that have been pivotal in driving growth and innovation in the defence sector.

    • Liberalized FDI Policy: The Foreign Direct Investment (FDI) limit in the defence sector was raised in 2020 to 74% through the Automatic Route for companies seeking new defence industrial licenses and up to 100% through the Government Route for those likely to result in access to modern technology. As of February 9, 2024, ₹5,077 crore worth of FDI has been reported by companies operating in the defence sector.
    • Budget Allocation: The allocation for the Ministry of Defence for the financial year 2024-25 is ₹6,21,940.85 crore, as part of the “Demand for Grant” presented in Parliament during the ongoing Budget Session.
    • Priority for Domestic Procurement: Emphasis is placed on procuring capital items from domestic sources under the Defence Acquisition Procedure (DAP)-2020.
    • Positive Indigenization Lists: Notification of five ‘Positive Indigenization Lists’ totalling 509 items of services and five lists of 5,012 items from Defence Public Sector Undertakings (DPSUs), with an embargo on imports beyond specified timelines.
    • Simplified Licensing Process: Streamlining the industrial licensing process with a longer validity period.
    • iDEX Scheme Launch: The Innovations for Defence Excellence (iDEX) scheme was launched to involve startups and Micro, Small, and Medium Enterprises (MSMEs) in defence innovation.

     

    • Public Procurement Preference: Implementation of the Public Procurement (Preference to Make in India) Order 2017 to support domestic manufacturers.

     

    • Indigenization Portal: Launch of the Self-Reliant Initiatives through Joint Action (SRIJAN) portal to facilitate indigenization by Indian industry, including MSMEs.

     

    • Defence Industrial Corridors: Establishment of two Defence Industrial Corridors, one each in Uttar Pradesh and Tamil Nadu, to promote defence manufacturing.

     

    • Opening Defence R&D: Defence Research & Development (R&D) has been opened up for industry and startups to foster innovation and collaboration.

     

    • Domestic Procurement Allocation: Out of the total allocation of ₹1,40,691.24 crore under the Capital Acquisition (Modernization) Segment, ₹1,05,518.43 crore (75%) has been earmarked for domestic procurement in the Budget Estimates for 2024-25.

     

    Conclusion

    India’s journey toward Atmanirbharta in defence reflects a transformative shift from reliance on imports to becoming a self-sufficient manufacturing hub. The record achievements in domestic production and exports underscore the government’s commitment to enhancing national security and bolstering economic growth through robust defence initiatives. With strategic policies in place, a growing emphasis on indigenization, and a vibrant defence industrial base, India is poised to not only meet its own security needs but also emerge as a key player in the global arms market. The ambitious targets set for future production and exports signify a strong resolve to reinforce the country’s position as a reliable defence partner worldwide. As India continues to innovate and collaborate across sectors, it is well on its way to solidifying its status as a formidable force in global defence manufacturing.

     

    References:

    Click here to see in PDF:

    Santosh Kumar/ Ritu Kataria/ Saurabh Kalia

    (Release ID: 2069090) Visitor Counter : 21

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Malware targeting millions of people taken down by international coalition

    Source: Eurojust

    A global operation, supported by Eurojust, has led to the takedown of servers of infostealers, a type of malware used to steal personal data and conduct cybercrimes worldwide. The infostealers, RedLine and META, taken down today targeted millions of victims worldwide, making it one of the largest malware platforms globally. An international coalition of authorities from the Netherlands, the United States, Belgium, Portugal, the United Kingdom and Australia shut down three servers in the Netherlands, seized two domains, unsealed charges in the United States and took two people into custody in Belgium.

    RedLine and Meta were able to steal personal data from infected devices. The data included saved usernames and passwords, and automatically saved form data, such as addresses, email addresses, phone numbers, cryptocurrency wallets, and cookies. After retrieving the personal data, the infostealers sold the information to other criminals through criminal market places. The criminals who purchased the personal data used it to steal money, cryptocurrency and to carry out follow-on hacking activities.

    Investigations into RedLine and Meta started after victims came forward and a security company notified authorities about possible servers in the Netherlands linked to the software. Authorities discovered that over 1 200 servers in dozens of countries were running the malware. To take down the transnational malware, Eurojust coordinated cooperation between authorities from the Netherlands, the United States, Belgium, Portugal, United Kingdom and Australia. Through Eurojust, authorities were able to quickly exchange information and coordinate actions to take down the infostealers.

    The take down of the infostealers took place on 28 October during a worldwide operation. Three servers were taken down in the Netherlands, two domains were seized, charges were unsealed in the United States and two people were taken into custody in Belgium. After the authorities obtained the data and took down the servers, a message was sent to the alleged perpetrators, including a video. The video sends a strong message to the criminals, showing that the international coalition of authorities was able to obtain crucial data on their network and will shut down their criminal activities. After the message was sent, Belgian authorities took down several Redline and Meta communication channels.

    The authorities also retrieved a database of clients from RedLine and Meta. Investigations will now continue into the criminals using the stolen data.

    For people concerned they may have fallen victim to RedLine and Meta, a private security company has launched an online tool to allow people to check if their data was stolen. The tool helps potential victims on the steps they need to take if their data has been stolen.

    The following authorities were involved in the actions:

    • The Netherlands: National Police, Team Cybercrime Limburg, Public Prosecution Service
    • United States: Federal Bureau of Investigation; Naval Criminal Investigative Service; Internal Revenue Service Criminal Investigations; Department of Defense Criminal Investigative Service; Army Criminal Investigation Division
    • Belgium: Federal Prosecutor’s Office; Federal Police
    • Portugal: Polícia Judiciária
    • United Kingdom: National Crime Agency
    • Australia: Australian Federal Police

    MIL Security OSI –

  • MIL-OSI: CECO Environmental Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Company Produces Record Q3 Bookings and Highest-Ever Backlog
    Q3 Revenue and Income Impacted by Customer-Driven Project Delays
    Announced the Acquisition of Profire Energy (Nasdaq: PFIE) for $125 Million
    Completed Acquisition of WK, in Early October
    Updates FY24 Guidance and Introduces 2025 Outlook

    DALLAS, Oct. 29, 2024 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO) (“CECO”), (the “Company”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the third quarter of 2024. In addition, CECO, announces it has completed the acquisition of WK, an Industrial Air company headquartered in Germany, in early October. Additionally, the Company announced the acquisition of Profire Energy, Inc. (NASDAQ: PFIE) (“Profire”), a leader in burner management technology and combustion control systems that provide mission-critical combustion automation and control solutions and services to improve environmental efficiency, safety and reliability for industrial thermal applications globally.

    Third Quarter Summary(1)

    • Orders of $162.3 million, up 12 percent
    • Backlog of $437.5 million
    • Revenue of $135.5 million, down 9 percent
    • Gross profit of $45.3 million, up 5 percent; Gross margin of 33.4 percent, up 460 basis points
    • Net income of $2.1 million, down 36 percent; non-GAAP net income of $5.2 million, down 32 percent
    • GAAP EPS (diluted) of $0.06; non-GAAP EPS (diluted) of $0.14, down 36 percent
    • Adjusted EBITDA of $14.3 million, down 5 percent
    • Free cash flow of $11.1 million, down $17.4 million

    Subsequent to the Quarter

    • Completes the acquisition of WK in early October
    • Announces the acquisition of Profire; expected to close by January 2025

    (1) All comparisons are versus the comparable prior year period, unless otherwise stated.
    Reconciliations of GAAP (reported) to non-GAAP measures are in the attached financial tables.

    Todd Gleason, CECO’s Chief Executive Officer commented, “While our third quarter produced very strong orders and a new record backlog, we were disappointed that we fell short of the anticipated quarterly revenue and income outlook as a handful of customer-driven delays in larger projects could not be overcome by continued progress with margin expansion and other actions. These delayed projects are expected to begin activity over the coming months and the impact is reflected in our updated full year 2024 and newly introduced full year 2025 outlook. We are excited to have been awarded several large energy transition and general industrial orders in the quarter and we anticipate this trend to continue as we are forecasting a very strong fourth quarter bookings period.”

    Third quarter operating income was $7.2 million, down $0.7 million or 9 percent when compared to $7.9 million in the third quarter 2023. On an adjusted basis, non-GAAP operating income was $11.0 million, down $1.8 million or 14 percent when compared to $12.8 million in the third quarter of 2023. Net income was $2.1 million in the quarter, down $1.2 million or 36 percent when compared to $3.3 million in the third quarter of 2023. Non-GAAP net income was $5.2 million, down $2.4 million or 32 percent when compared to $7.6 million in the third quarter of 2023. Adjusted EBITDA of $14.3 million, reflecting a margin of 10.6 percent, was down 5 percent compared to $15.1 million in the third quarter of 2023. Free cash flow in the quarter was $11.1 million, down $17.4 million compared to $28.5 million in the third quarter of 2023.

    Completes Acquisition of WK

    CECO today announced that in early October it completed the acquisition of Germany-based, WK – a leading industrial air business with well-established global customers and a strong Asia-Pacific presence, based out of Singapore. WK designs, engineers and supplies a broad range of cutting-edge technical equipment and systems for process and environmental and surface technology applications, as well as innovative sustainable solutions. This acquisition strengthens CECO’s footprint and capabilities within the industrial processing solutions segment and further advances the Company’s Industrial Air and leadership positions. WK is expected to deliver full year 2024 sales of approximately $15 million with the potential for high-teen EBITDA margins.

    “I would like to welcome the WK organization to our portfolio of leading industrial air solutions businesses,” said Mr. Gleason. “Together we will advance our joint capabilities to better serve global customers while penetrating markets with solutions and services from across our diverse enterprise.”

    Announces Acquisition of Profire Energy, Inc. (Nasdaq: PFIE)

    “I am excited that today we announced the acquisition of Profire in an all-cash transaction that we expect will close in January 2025. Profire expects to generate approximately $60 million in revenues with adjusted EBITDA margins of approximately 20 percent in the full year 2024. With an installed base approaching 100,000 burner management systems and a growing industrial market product offering, we look forward to accelerating their global market expansion and introducing their high-efficiency solutions to more customers in the industrial air and water markets. We are confident the increased scale and combined corporate organizations will generate meaningful efficiencies and synergies. The addition of Profire is another important step in our ongoing execution of programmatic M&A and we expect it will further advance our position as the leading environmental solutions provider in industrial markets,” added Mr. Gleason.

    Updates 2024 Full Year Guidance

    The Company updated its 2024 full year revenue guidance to reflect revenue between $575 and $600 million, up approximately 10 percent year over year at the midpoint of the range, and adjusted EBITDA between $65 to $70 million, up approximately 17 percent year over year, at the midpoint of the range. The updated expected full year guidance compares to the previous outlook for revenues of between $600 to $620 million and adjusted EBITDA of between $68 to $72 million. The Company expects 2024 full year bookings guidance to reflect a book to bill rate of or in excess of 1.2x, up from a previous range of 1.05x to 1.1x. The Company maintains its full year outlook for free cash flow of 50% to 70% of adjusted EBITDA.

    “Our updated full year 2024 guidance essentially mirrors the initial outlook we provided as we entered 2024. As previously mentioned, unfortunately, the customer-driven delays associated with a handful of larger projects impacted our ability to hit the raised guidance we issued mid-year. This is the first time we have reduced guidance in company history, and although this is disappointing for our short-term results, we remain very pleased with our bookings, margin expansion progress and overall execution. Additionally, the revenue and associated income from the 2024 project delays slide into upcoming quarters, so we remain focused on execution and controlling factors we can influence,” said Mr. Gleason.

    Introduces 2025 Full Year Guidance

    The Company introduced its 2025 full year guidance to reflect revenue between $700 and $750 million, up approximately 25 percent at the midpoint of the range, and adjusted EBITDA between $90 and $100 million, up approximately 40% at the midpoint of the range. The Company expects full year free cash flow of between 50% to 70% of adjusted EBITDA.

    Mr. Gleason concluded, “Our full year 2025 outlook reflects the visibility we have with our record backlog, ongoing strong bookings, 2024 related project push outs, and the impact from already completed acquisitions and the pending transaction with Profire. We continue to drive an aggressive operating model that supports strong organic growth, coupled with steady margin expansion and additions from accretive and strategic acquisitions.”

    EARNINGS CONFERENCE CALL

    A conference call is scheduled for today at 8:30 a.m. ET to discuss the third quarter 2024 financial results. Please visit the Investor Relations portion of the website (https://investors.cecoenviro.com) to listen to the call via webcast. The conference call may also be accessed by visiting https://edge.media-server.com/mmc/p/4ui844vi.

    A replay of the conference call will be available on the Company’s website for a period of one year. The replay may also be accessed by visiting https://edge.media-server.com/mmc/p/4ui844vi.

    ABOUT CECO ENVIRONMENTAL

    CECO Environmental is a leading environmentally focused, diversified industrial company, serving the broad landscape of industrial air, industrial water and energy transition markets globally providing innovative solutions and application expertise. CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. CECO solutions improve air and water quality, optimize emissions management, and increase energy efficiency for highly-engineered applications in power generation, midstream and downstream hydrocarbon processing and transport, electric vehicle production, polysilicon fabrication, semiconductor and electronics, battery production and recycling, specialty metals and steel production, beverage can, and water/wastewater treatment and a wide range of other industrial end markets. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Dallas, Texas. For more information, please visit www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670
    investor.relations@onececo.com

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors, LLC
    214-872-2710
    investor.relations@onececo.com

    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
               
    (in thousands, except per share data) (unaudited)
    September 30, 2024    		     December 31, 2023  
    ASSETS          
    Current assets:          
    Cash and cash equivalents $ 38,700     $ 54,779  
    Restricted cash   226       669  
    Accounts receivable, net of allowances of $7,214 and $6,460   100,111       112,733  
    Costs and estimated earnings in excess of billings on uncompleted contracts   68,500       66,574  
    Inventories, net   37,760       34,089  
    Prepaid expenses and other current assets   27,143       11,769  
    Prepaid income taxes   3,826       824  
    Total current assets   276,266       281,437  
    Property, plant and equipment, net   32,306       26,237  
    Right-of-use assets from operating leases   24,690       16,256  
    Goodwill   220,026       211,326  
    Intangible assets – finite life, net   51,547       50,461  
    Intangible assets – indefinite life   9,598       9,570  
    Deferred income taxes   287       304  
    Deferred charges and other assets   6,792       4,700  
    Total assets $ 621,512     $ 600,291  
    LIABILITIES AND SHAREHOLDERS’ EQUITY          
    Current liabilities:          
    Current portion of debt $ 10,580     $ 10,488  
    Accounts payable   92,316       87,691  
    Accrued expenses   43,762       44,301  
    Billings in excess of costs and estimated earnings on uncompleted contracts   64,801       56,899  
    Notes payable   1,700       2,500  
    Income taxes payable   —       1,227  
    Total current liabilities   213,159       203,106  
    Other liabilities   10,336       12,644  
    Debt, less current portion   122,818       126,795  
    Deferred income tax liability, net   9,622       8,838  
    Operating lease liabilities   19,696       11,417  
    Total liabilities   375,631       362,800  
    Commitments and contingencies (See Note 14)          
    Shareholders’ equity:          
    Preferred stock, $.01 par value; 10,000 shares authorized, none issued   —       —  
    Common stock, $.01 par value; 100,000,000 shares authorized, 34,979,018 and
    34,835,293 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively    		   349       348  
    Capital in excess of par value   253,590       254,956  
    Retained earnings (accumulated loss)   1,692       (6,387 )
    Accumulated other comprehensive loss   (14,374 )     (16,274 )
    Total CECO shareholders’ equity   241,257       232,643  
    Noncontrolling interest   4,624       4,848  
    Total shareholders’ equity   245,881       237,491  
    Total liabilities and shareholders’ equity $ 621,512     $ 600,291  
    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF INCOME
    (unaudited)
               
      Three months ended September 30,     Nine months ended September 30,  
    (in thousands, except share and per share data) 2024     2023     2024     2023  
    Net sales $ 135,513     $ 149,390     $ 399,367     $ 391,134  
    Cost of sales   90,247       106,269       259,921       273,303  
    Gross profit   45,266       43,121       139,446       117,831  
    Selling and administrative expenses   34,262       30,439       105,636       86,082  
    Amortization and earnout expenses   2,617       1,968       7,036       5,988  
    Acquisition and integration expenses   1,210       1,386       1,876       2,210  
    Executive transition expenses   —       1,258       —       1,417  
    Restructuring expenses   (10 )     217       544       217  
    Asbestos litigation expenses   —       —       225       —  
    Income from operations   7,187       7,853       24,129       21,917  
    Other expense, net   (398 )     (216 )     (2,589 )     (670 )
    Interest expense   (2,648 )     (3,340 )     (9,315 )     (9,498 )
    Income before income taxes   4,141       4,297       12,225       11,749  
    Income tax expense   1,602       585       2,664       1,577  
    Net income   2,539       3,712       9,561       10,172  
    Noncontrolling interest   (453 )     (382 )     (1,482 )     (1,140 )
    Net income attributable to CECO Environmental Corp. $ 2,086     $ 3,330     $ 8,079     $ 9,032  
    Earnings per share:                      
    Basic $ 0.06     $ 0.10     $ 0.23     $ 0.26  
    Diluted $ 0.06     $ 0.09     $ 0.22     $ 0.26  
    Weighted average number of common shares outstanding:                      
    Basic   34,966,625       34,771,742       34,910,165       34,612,163  
    Diluted   36,488,788       35,301,429       36,322,690       35,215,843  
    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
         
      Nine months ended September 30,  
    (in thousands) 2024     2023  
    Cash flows from operating activities:          
    Net income $ 9,561     $ 10,172  
    Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
    Depreciation and amortization   10,536       8,769  
    Unrealized foreign currency gain (loss)   201       (138 )
    Fair value adjustment to earnout liabilities   400       296  
    Gain on sale of property and equipment   135       43  
    Debt discount amortization   357       271  
    Share-based compensation expense   5,790       3,096  
    Bad debt expense   404       154  
    Inventory reserve expense   850       526  
    Other   77       —  
    Changes in operating assets and liabilities, net of acquisitions:          
    Accounts receivable   9,653       (25,961 )
    Costs and estimated earnings in excess of billings on uncompleted contracts   (1,498 )     6,006  
    Inventories   (4,305 )     (10,395 )
    Prepaid expense and other current assets   (18,059 )     (8,228 )
    Deferred charges and other assets   (2,755 )     (268 )
    Accounts payable   15,387       21,162  
    Accrued expenses   (550 )     7,868  
    Billings in excess of costs and estimated earnings on uncompleted contracts   7,286       19,330  
    Income taxes payable   (1,140 )     261  
    Other liabilities   (9,330 )     (3,473 )
    Net cash provided by operating activities   23,000       29,491  
    Cash flows from investing activities:          
    Acquisitions of property and equipment   (11,237 )     (5,511 )
    Net cash paid for acquisitions   (14,954 )     (48,102 )
    Net cash used in investing activities   (26,191 )     (53,613 )
    Cash flows from financing activities:          
    Borrowings on revolving credit lines   58,400       94,200  
    Repayments on revolving credit lines   (54,800 )     (63,200 )
    Repayments of long-term debt   (7,843 )     (2,478 )
    Payments on finance leases and financing liability   (692 )     (680 )
    Deferred consideration paid for acquisitions   (2,050 )     (1,247 )
    Earnout payments   (1,672 )     (1,496 )
    Proceeds from employee stock purchase plan and exercise of stock options   846       1,435  
    Noncontrolling interest distributions   (1,707 )     (1,364 )
    Common stock repurchased   (5,000 )     —  
    Net cash (used in) provided by financing activities   (14,518 )     25,170  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   1,187       703  
    Net (decrease) increase in cash, cash equivalents and restricted cash   (16,522 )     1,751  
    Cash, cash equivalents and restricted cash at beginning of period   55,448       46,585  
    Cash, cash equivalents and restricted cash at end of period $ 38,926     $ 48,336  
    Cash paid during the period for:          
    Interest $ 9,714     $ 8,531  
    Income taxes $ 6,779     $ 8,633  
    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
               
      Three months ended September 30,     Nine months ended September 30,  
    (in millions, except ratios) 2024     2023     2024     2023  
    Operating income as reported in accordance with GAAP $ 7.2     $ 7.9     $ 24.1     $ 21.9  
    Operating margin in accordance with GAAP   5.3 %     5.3 %     6.0 %     5.6 %
    Amortization and earnout expenses   2.6       2.0       7.1       6.0  
    Acquisition and integration expenses   1.2       1.4       1.9       2.2  
    Restructuring expenses   —       0.2       0.5       0.2  
    Executive transition expenses   —       1.3       —       1.4  
    Asbestos litigation expenses   —       —       0.2       —  
    Non-GAAP operating income $ 11.0     $ 12.8     $ 33.8     $ 31.7  
    Non-GAAP operating margin   8.1 %     8.6 %     8.5 %     8.1 %
      Three months ended September 30,     Nine months ended September 30,  
    (in millions, except share data) 2024     2023     2024     2023  
    Net income as reported in accordance with GAAP $ 2.1     $ 3.3     $ 8.1     $ 9.0  
    Amortization and earnout expenses   2.6       2.0       7.1       6.0  
    Acquisition and integration expenses   1.2       1.4       1.9       2.2  
    Restructuring expenses   —       0.2       0.5       0.2  
    Executive transition expense   —       1.3       —       1.4  
    Asbestos litigation expense   —       —       0.2       –  
    Foreign currency remeasurement   0.3       0.8       1.8       (0.1 )
    Tax (benefit) expense of adjustments   (1.0 )     (1.4 )     (2.8 )     (2.4 )
    Non-GAAP net income $ 5.2     $ 7.6     $ 16.8     $ 16.3  
    Depreciation   1.4       1.2       4.0       3.5  
    Non-cash stock compensation   1.9       1.1       5.8       3.1  
    Other expense, net   0.1       (0.6 )     0.8       0.8  
    Interest expense   2.6       3.3       9.3       9.5  
    Income tax expense   2.6       2.0       5.6       4.0  
    Noncontrolling interest   0.5       0.4       1.5       1.2  
    Adjusted EBITDA $ 14.3     $ 15.0     $ 43.8     $ 38.4  
                           
    Earnings per share:                      
    Basic $ 0.06     $ 0.09     $ 0.23     $ 0.26  
    Diluted $ 0.06     $ 0.10     $ 0.22     $ 0.26  
                           
    Non-GAAP net income per share:                      
    Basic $ 0.15     $ 0.22     $ 0.48     $ 0.47  
    Diluted $ 0.14     $ 0.22     $ 0.46     $ 0.46  
      Three months ended September 30,     Nine months ended September 30,  
    (in millions) 2024     2023     2024     2023  
    Net cash provided by operating activities $ 15.1     $ 30.1     $ 23.0     $ 29.5  
    Acquisitions of property and equipment   (4.0 )     (1.6 )     (11.2 )     (5.5 )
    Free cash flow $ 11.1     $ 28.5     $ 11.8     $ 24.0  
                                   

    NOTE REGARDING NON-GAAP FINANCIAL MEASURES

    CECO is providing certain non-GAAP historical financial measures as presented above as we believe that these figures are helpful in allowing individuals to better assess the ongoing nature of CECO’s core operations. A “non-GAAP financial measure” is a numerical measure of a company’s historical financial performance that excludes amounts that are included in the most directly comparable measure calculated and presented in accordance with GAAP.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow, as we present them in the financial data included in this press release, have been adjusted to exclude the effects of amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. Management believes that these items are not necessarily indicative of the Company’s ongoing operations and their exclusion provides individuals with additional information to better compare the Company’s results over multiple periods. Management utilizes this information to evaluate its ongoing financial performance. Our financial statements may continue to be affected by items similar to those excluded in the non-GAAP adjustments described above, and exclusion of these items from our non-GAAP financial measures should not be construed as an inference that all such costs are unusual or infrequent.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow are not calculated in accordance with GAAP, and should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of our business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of CECO’s results as reported under GAAP. Additionally, CECO cautions investors that non-GAAP financial measures used by the Company may not be comparable to similarly titled measures of other companies.

    In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow stated in the tables above are reconciled to the most directly comparable GAAP financial measures.

    Non-GAAP measures presented on a forward-looking basis were not reconciled to the comparable GAAP financial measures because the reconciliation could not be performed without unreasonable efforts. The GAAP measures are not accessible on a forward-looking basis because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. The unavailable information could have a significant impact on our GAAP financial results.

    SAFE HARBOR

    Any statements contained in this Press Release, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Part I – Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and may be included in subsequently filed Quarterly Reports on Form 10-Q, and include, but are not limited to: the parties’ ability to complete the proposed Profire transactions in the anticipated timeframe or at all, the occurrence of any event, change or other circumstance that could give rise to the termination of the Profire transaction agreement between the parties, the effect of the announcement or pendency of the proposed Profire transaction on business relationships, operating results, and business generally, disruption of current plans and operations and potential difficulties in employee retention as a result of the proposed Profire transaction, diversion of management’s attention from ongoing business operations as a result of the Profire transaction, the outcome of any legal proceedings that may be instituted related to the proposed Profire transaction, the amount of the costs, fees, expenses and other charges related to the proposed Profire transaction, the risk that competing offers or acquisition proposals will be made, the achievement of the anticipated benefits of the Profire transaction, the ability of Profire to achieve its 2024 earnings guidance, our ability to successfully integrate acquired businesses and realize the synergies from acquisitions, the sensitivity of our business to economic and financial market conditions generally and economic conditions in our service areas; dependence on fixed price contracts and the risks associated therewith, including actual costs exceeding estimates and method of accounting for revenue; the effect of growth on our infrastructure, resources, and existing sales; the ability to expand operations in both new and existing markets; the potential for contract delay or cancellation as a result of on-going or worsening supply chain challenges; liabilities arising from faulty services or products that could result in significant professional or product liability, warranty, or other claims; changes in or developments with respect to any litigation or investigation; failure to meet timely completion or performance standards that could result in higher cost and reduced profits or, in some cases, losses on projects; the potential for fluctuations in prices for manufactured components and raw materials, including as a result of tariffs and surcharges, and rising energy costs; inflationary pressures relating to rising raw material costs and the cost of labor; the substantial amount of debt incurred in connection with our strategic transactions and our ability to repay or refinance it or incur additional debt in the future; the impact of federal, state or local government regulations; our ability to repurchase shares of our common stock and the amounts and timing of repurchases, if any; our ability to successfully realize the expected benefits of our restructuring program; our ability to successfully identify acquisition targets, integrate acquired businesses and realize the synergies from strategic transactions; and the unpredictability and severity of catastrophic events, including cyber security threats, acts of terrorism or outbreak of war or hostilities or public health crises, as well as management’s response to any of the aforementioned factors. Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to our views as of the date the statement is made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise. 

    The MIL Network –

  • MIL-OSI: Nokia signs patent license agreement with HP

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia signs patent license agreement with HP

    • License covers the use of Nokia’s video technologies in HP’s devices
    • Nokia to receive royalty payments
    • The agreement resolves all patent litigation between the parties

    29 October 2024
    Espoo, Finland – Nokia today announced it has signed a multi-year patent license agreement with HP covering the use of Nokia’s video technologies in HP’s devices. Under the agreement HP will make royalty payments to Nokia. The agreement resolves all patent litigation between the parties, in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties.

    Arvin Patel, Chief Licensing Officer New Segments, at Nokia said: “We are delighted to have reached an agreement with HP which recognizes Nokia’s leadership in video and multimedia technologies and our decades-long investments in R&D.”

    Nokia is a leader in the development of video and multimedia technologies, including video compression, content delivery, content recommendation and aspects related to hardware. In the past 25 years, Nokia has created almost 5,000 inventions that enable multimedia products and services, and continues to play a leading role in multimedia research and standardization. Nokia’s expertise in multimedia and video research is built on continuous investment to advance the industry. Nokia has invested around €150 billion in R&D since 2000 (including over €4 billion in 2023 alone) for cutting edge technologies including cellular and multimedia.

    Resources and additional information
    Webpage: Patents powering consumer electronics I Nokia

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Steven Bartholomew, VP Communications and Marketing, Nokia Technologies
    Email: steven.bartholomew@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube*

    The MIL Network –

  • MIL-OSI Europe: EIB approves a €300 million loan to Red Eléctrica for the construction of Salto de Chira hydroelectric power plant in the Canary Islands

    Source: European Investment Bank

    • Salto de Chira is a cutting-edge strategic project for the island of Gran Canaria, which combines a pumped-storage hydroelectric power plant of 200 MW installed power capacity and a desalination plant.
    • It will strengthen Gran Canaria’s electricity system, providing a fundamental back-up to guarantee energy security and electricity supply, critical issues for citizens and businesses.
    • The project contributes to the integration of renewable energies on the island and reflects the important role the EIB is playing in consolidating Spain as the country of renewables.

    The European Investment Bank (EIB) has approved a €300 million loan to finance the construction of the Salto de Chira pumped-storage hydroelectric power plant being built by Red Eléctrica, a subsidiary of Redeia, in Gran Canaria.

    The Salto de Chira power plant will use a system of two water reservoirs at different heights to store or deliver energy from renewable energies according to the needs of the electricity system. It will have a installed power capacity of 200 MW and energy storage capacity of 3,5GWh, making possible to take advantage of surplus renewable production, which would otherwise be lost, at times when the system needs it. In this way, it will contribute to the quality and security of the electricity supply and to greater integration of renewable energies into the electricity system on the island of Gran Canaria. The project also includes the construction of a seawater desalination plant to contribute to water storage, which is also expected to have a positive impact on farming communities’ access to irrigation water.

    “We are delighted to join forces with Red Eléctrica to support the construction of the Salto de Chira hydroelectric power plant. This project is key to ensuring energy autonomy and driving the green transition in Gran Canaria,” said Jean-Christophe Laloux, Director General of Operations in the European Union at the EIB. “The project will improve electricity supply quality and security on the island using existing resources and reflects the EIB’s commitment to territorial cohesion and climate action, two of our strategic priorities.”

    The investment takes part entirely in the Canary Islands, a cohesion and outermost region. It is expected to have a positive impact on the local economy by driving growth and job creation, and firmly backs the EIB Group’s commitment to economic, social and territorial cohesion.

    Commenting on the agreement, the CEO of Redeia, Roberto García Merino, highlighted the importance of this project and of storage in advancing the penetration of renewable energies,  “storage will be one of the key elements in the energy transition, providing flexibility and manageability to the electricity system to integrate large amounts of renewable energies, thus contributing to electrification and access to renewable energy, which is especially important for an electricity system like the Canary Islands, which is isolated and therefore more vulnerable’.

    Once finalized, the pumped-storage hydroelectric power plant will be a fundamental tool for the operation of the system, providing it with the flexibility essential for the substitution of fossil energy sources and the safe and reliable integration of renewable resources, mitigating the interconnection difficulties of the Canary Islands’ electricity systems.

    This project contributes to the decarbonisation objectives of the European Green Deal. It is also part of the EIB’s action plan to support REPowerEU in ensuring energy security and reducing EU dependence on fossil fuel imports.

    Operation of the Salto de Chira pumped-storage plant

    The plant will use two of Gran Canaria’s existing reservoirs, Chira and Soria, to create an electricity-generating waterfall. It will that harnesses the renewable energy stored in the form of water in the upper reservoir to produce energy through an underground hydroelectric plant, reducing its impact on the environment.

    At times of peak renewable energy generation, the excess power will be used to pump water from the lower reservoir (Soria) to the upper one (Chira), storing this energy in the form of water. The water will then be used to generate electricity at times of high demand and low electricity generation from renewable sources.

    The project includes the construction of a seawater desalination plant that will be used to fill the reservoirs and will directly benefit the development of farming communities in the area thanks to the water not needed for the operation of the plant.

    The EIB and energy security

    In 2023, the EIB Group signed more than €21 billion in financing for energy security in Europe. In the same year, it allocated €4.5 billion to this goal in Spain, financing projects in areas including renewable energy, energy efficiency, power grids and storage systems. These investments are helping Europe speed up its transition to sustainable energy and reduce its reliance on fossil fuel imports.

    In July 2023, the EIB Board of Directors raised the amount earmarked for REPowerEU projects to €45 billion. REPowerEU is the plan designed to end Europe’s dependence on fossil fuel imports. To boost financing for the EU manufacturing industry, the EIB will also expand the range of eligible sectors to include leading strategic technologies with net-zero carbon emissions, as well as extraction, processing and recycling of critical raw materials. The additional financing will be disbursed between now and 2027. In total, it is expected to mobilise more than €150 billion in investment in the target sectors.

    Find out more about the EIB’s support for the energy sector here.

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Overall, the EIB Group signed €88 billion in new financing in 2023.

    Red Eléctrica

    Red Eléctrica is the sole transmission agent and operator of the electricity system in Spain. Created in 1985, it is the first TSO in the world, being the first company dedicated exclusively to the operation of the electricity system and the transmission of electricity; a model currently implemented in 22 of the 27 countries of the EU.

    A subsidiary of Redeia, manager of essential electricity and telecommunications infrastructures, Red Eléctrica’s mission has always been to guarantee a safe and quality electricity supply and to develop a reliable electricity transmission grid to provide a service that is essential for households, companies and public services. It is now also a fundamental pillar of Spain’s ecological transition process, developing the grids necessary for this transformation and operating the system for an efficient and safe integration of renewable energies.

    MIL OSI Europe News –

  • MIL-OSI Europe: Germany: EIB supports affordable housing in Bremen

    Source: European Investment Bank

    • Housing company GEWOBA is building almost 500 new rental flats and is investing to decarbonise its existing housing stock.
    • The EIB is providing €125 million in co-financing for the project to increase the supply of affordable housing that meets energy efficiency standards.

    The European Investment Bank (EIB) is granting a €125 million loan to housing-company GEWOBA AG Wohnen und Bauen in Bremen. The loan supports an extensive €500 million building and renovation project to increase the supply of affordable and climate-friendly housing in Bremen and Bremerhaven by the company that is majority-owned by the two municipalities. The flats will meet the high energy efficiency standards set out by the European Union and at least meet the German energy standard of KfW Efficiency House 55.

    According to the current plans, almost 500 new flats will be built, most of which will be accessible for people with reduced mobility. As part of the project, there will be a new kindergarten for around 60 children, as well as assisted-living communities and a day centre for 15 elderly people. In addition, over 2 000 existing flats will undergo energy-related renovation works. The price of rent per square metre for the new flats may not exceed €6.80 for subsidised flats and €9.00 for rent-capped flats.

    Bremen is a growing city, with its population expected to rise from today`s 685 000 inhabitants to 705 000 by 2035. Although the state of Bremen is in good economic shape overall, it has the highest unemployment rate of all federal states of Germany at 10%, and a high proportion of its residents earn low incomes.

    As in many cities in Germany, rent prices have increased in recent years. As the biggest rental housing provider in Bremen and Bremerhaven, GEWOBA is steering away from this trend, charging an average rent price of €6.94 per square metre (excluding bills) and an average of €7.94 per square metre for new rental contracts in existing flats.

    “The project is helping to ensure that a vibrant city can continue to grow and be liveable for families with children and the elderly”, says EIB Vice-President Nicola Beer. “Together with our partner GEWOBA, we are facing up to the social challenge in German and European cities and continuing to create affordable and climate-friendly housing.”

    The new flats are set to be highly energy efficient and will contribute to the European Union’s climate and environmental sustainability goals. They will help to reduce the amount of CO2 emitted from buildings and will support Bremen on its path to climate neutrality. They will also encourage social inclusion, as demonstrated by the emphasis on accessibility, and will create more housing options in the city for people on low and moderate incomes.

    “We are pleased to have a partner at our side in the form of the EIB, which is pursuing the same climate and social objectives as we are,” said Member of the Executive Board of GEWOBA Anja Passlack.

    Background information

    The EIB Group is the long-term lending institution of the European Union. It finances sound investments that contribute to EU policy objectives and works closely with other EU institutions and bodies to advance shared priorities such as equitable growth and a just transition towards climate neutrality. The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing in 2023, of which €8.6 billion in Germany.

    The EIB Group has been providing financing and advisory services to the housing sector for 25 years. In the last five years alone, it has provided around €13.4 billion to support sustainable urban development and modernisation projects. Together with the European Commission, the EIB will increase its commitment to affordable housing in the coming years.

    GEWOBA AG Wohnen und Bauen in Bremen was founded in 1924 with the aim of making decent housing available for broad sections of the population – a mission that is still enshrined in its statute today. With around 43 000 rental apartments, GEWOBA is the largest rental housing provider in the state of Bremen and is majority-owned by the municipality. Its core business is value-based management and looking to the future to further develop its diverse housing portfolio. For decades, it has invested in extensive maintenance and modernisation projects, and expands its portfolio with new, high-quality buildings when required.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Scotland’s Redress Scheme

    Source: Scottish Government

    An Official Statistics Publication for Scotland.

     

    Scotland’s Redress Scheme statistics have been published for the period from December 2021 to June 2024.

    They show that over the first 30 months of the scheme:

    • 1,585 (97%) of applications were eligible for financial redress with offers made
    • 56 (3%) of applications were deemed not eligible
    • 1,488 awards were made totalling £76,663,543 after deductions
    • 971 (65%) were Individually Assessed Payments, 412 (28%) were Fixed Rate Payments and 105 (7%) were Next of Kin awards
    • Of the 110 apologies requested, 69 (63%) were delivered by June 2024

    Background

    Scotland’s Redress Scheme Statistics December 2021 – June 2024

    Official statistics are produced in accordance with the Code of Practice for Statistics.

    This is an Official Statistics publication providing data on applications, outcomes and payments made, fees and costs, as well as apologies made under Scotland’s Redress Scheme. It builds on last year’s publication of figures from December 2021 to June 2023.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Homicide in Scotland, 2023-24

    Source: Scottish Government

    An Accredited Official Statistics Publication for Scotland

    Scotland’s Chief Statistician today published Homicide in Scotland, 2023-24. The publication provides information on crimes of homicide recorded by the police in Scotland in 2023-24. The main findings are:

    In 2023-24, 57 victims of homicide were recorded, 10% (or five victims) more than the 52 victims recorded in 2022-23.

    Over the latest 10 year period from 2014-15 to 2023-24, the number of victims fell by 10% (six victims) from 63 to 57.

    Over the latest 20 year period from 2004-05 to 2023-24, the number of homicide victims in Scotland fell by 58% (or 80 victims) from 137 to 57.

    The greatest reduction in homicide victims over the last 20 years has been amongst young people aged 16-24. In the five years between 2004-05 to 2008-09 there were 125 victims in this age range. This dropped to 29 across the latest five years between 2019-20 to 2023-24.

    Of the 57 victims recorded in 2023-24, 77% (44) were male and 23% (13) were female.

    In 2023-24, 85 persons were accused of homicide, of which 81% (69) were male and 19% (16) were female. For all the 57 homicide victims recorded in 2023-24, the associated case was solved.

    For each of the last 20 years, the most common method of killing was with a sharp instrument. In 2023-24, a sharp instrument was the main method of killing for 49% (or 28) of homicide victims.

    For the latest year of 2023-24, the majority (64%) of male victims were killed by an acquaintance (28 of 44 male victims). Female victims were most likely to be killed by a partner or ex-partner (38%, or five of 13 female victims).

    Whilst most recorded incidents of homicide in these statistics have one victim and one accused, some incidents can have multiple victims and/or accused. There were 57 homicide incidents recorded in 2023-24, 12% (or six incidents) more than the 51 recorded in 2022-23.

    Background

    The full statistical publication can be accessed at: Homicide in Scotland 2023-24

    The term “sharp instrument” includes knives, broken bottles, swords, sharpened screwdrivers and any other pointed or edged weapons.

    Further information on Crime and Justice statistics within Scotland can be accessed at https://www.gov.scot/collections/crime-and-justice-statistics/

    Accredited official statistics are produced by professionally independent statistical staff – more information on the standards of accredited official statistics in Scotland can be accessed at: About our statistics

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Westminster City Council invests nearly £4 million in dedicated SEND facilities for young people and their families  | Westminster City Council

    Source: City of Westminster

    Recognising an increase in demand for services for children with special education needs and disabilities (SEND), Westminster City Council has expanded its extensive current offer by investing nearly £4 million in dedicated SEND facilities for young residents and their families.  

    A brand-new SEND facility has opened in the south of Westminster – known as Tresham South, and a major refurbishment and expansion of our facility in the north of Westminster – known as Tresham North, has taken place to greatly improve our SEND provision right across the city. 

    £1.8 million has been spent on our brand-new Tresham South site in Pimlico in response to parents and carer feedback. This site includes our Short Breaks service – a place for children with SEND to experience unforgettable activities and develop vital skills, while giving their families time away from their caring responsibilities, as well as a new council-funded campus for College Park Special School. 

    The new Short Breaks centre contains two main activity rooms that cater for lots of different types of free flow play: one for older children and one for younger children. It also features arts and craft spaces and a main hall for larger group activities. The school’s facilities include a sensory room, occupational therapy suites and seven classrooms to provide an additional 50 school spaces for SEN children.  

    College Park School and the Short Breaks service also share several state-of-the-art facilities – these include a sensory room with a number of exciting elements, a soft play area, and a large playground space with an outdoor play area.    

    In the north of Westminster, £1.9 million of council funding has gone towards significant refurbishment and expansion to our existing popular Tresham North Short Breaks centre near Edgware Road. This provides cutting edge and expanded facilities, including an outside cinema, two soft plays, youth zone and facilities for children with complex health needs.

    Our expanded Short Breaks service addresses the council’s desire to increase SEND provision in the south of the city. It offers eligible children a local place where they can socialise, enjoy activities and learn in a safe and nurturing environment.    

    The development of all SEND provision across Westminster, including these new facilities, happens in collaboration with Make it Happen, a parents’ forum for those with children and young people who have special needs and disabilities.  

    At our opening event for our new Short Breaks Facility in the South of Westminster, Charlie Lynch, said:   

    Having this centre will really help my son socially, physically and emotionally. Nothing like this exists to include children with learning disabilities in the community. It gives them a chance to make friends, learn who they are as individuals, and have a safe space to play as part of a community.  

    Claire Sheppard, Headteacher at College Park Special School, said:  

    Westminster City Council have been instrumental in making this place work, making it the best it can be and has been really supportive in everything we do. It’s been amazing having local councillors and a great education department that are willing to invest in our children with special needs, knowing that there is such a demand.  

    Kayleigh Lloyd, our Short Breaks Service manager said:   

    The additional provision in the south of the city is something we’ve been really looking forward to. We cannot wait to welcome more of our families so they can access this new free, and fully accessible facility, that I know will be really enjoyed by all the children who attend here.  

    Cllr Aicha Less, Deputy Leader and Cabinet Member for Children at Westminster City Council said:   

    The council remains committed to a forward-thinking approach for special educational needs and disabilities provision. By actively consulting with local communities, we aim to understand their needs and identify the best way to provide comprehensive support. Our goal is to ensure that every child and young person with SEND receives the care, opportunities and resources they deserve, and these brilliant new facilities will help us to make that a reality in Westminster.  

    Note to editors:  

    Our Short Breaks service provides a number of different types of activity for children with SEND up to the age of 18 who have a package to attend the centres with a school holiday scheme, Saturday provision and after school activities. The aim is to provide valuable respite for parents and carers, as well as fantastic play and leisure activities for the children who attend. We have two centres within the city – Tresham North and Tresham South. To find out more about our Short Breaks service you can visit: https://www.westminster.gov.uk/shortbreaks. 

    College Park Special School is a local authority school in Westminster for children with autism and complex learning difficulties.

    Find out more about support for children with SEND on our family information hub – Family Information Hub | SEND Local Offer 

    MIL OSI United Kingdom –

  • MIL-OSI: Change in Innofactor Plc’s Executive Board

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc Stock Exchange Release, on October 29, 2024, at 12:35 Finnish time

    Innofactor Plc’s CFO Antti Rokala has resigned from his position on October 29, 2024. During his notice period, Rokala will not have any work obligations.

    Innofactor has initiated actions to hire a new CFO. In the interim, CEO Sami Ensio will assume the responsibilities of the CFO.

    Espoo, October 29, 2024

    INNOFACTOR PLC

    Sami Ensio, CEO

    Additional information:
    Sami Ensio, CEO
    Innofactor Plc
    Tel. +358 50 584 2029
    sami.ensio@innofactor.com

    Distribution:
    NASDAQ Helsinki
    Main media
    www.innofactor.com

    Innofactor
    Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. www.innofactor.com #ModernDigitalOrganization #PeopleFirst #CreatingSmiles #BeTheRealYou

    The MIL Network –

  • MIL-OSI Economics: Luis de Guindos: Interview with ANSA

    Source: European Central Bank

    Interview with Luis de Guindos, Vice-President of the ECB, conducted by Domenico Conti

    29 October 2024

    At the latest press conference, President Lagarde spoke of a series of economic indicators pointing lower and of downside risks to growth. The Survey of Professional Forecasters published by the ECB foresees inflation of 1.9% in 2025, compared with 2.2% in the projections by ECB experts. In this context, will the Governing Council have the option to make back-to-back interest rate cuts, as occurred in September and October?

    In short, on the current economic situation, we don’t have good news with respect to growth but we do have good news with respect to inflation.

    On growth, we have revised down our projections twice – before the summer and in September. We see that the downside risks that we identified are crystallising, mainly because consumption is not recovering as expected. Even though real disposable income has increased because wages are catching up with past inflation, households are not increasing their spending. This could be due to structural factors, including a lack of confidence owing to past inflation, the pandemic or geopolitical risks. But it is clear that the recovery in consumption is not happening at the pace we had previously projected.

    On inflation, we have the opposite happening. The latest figures are good, in terms of both headline inflation and underlying inflation. Most measures of underlying inflation are declining, and we are confident that we will be able to reach our 2% target over the medium term in the course of 2025.

    Regarding possible future cuts, we have been very clear that we will keep all options open at forthcoming meetings, both in terms of the number of cuts and the size of these cuts. But what is most relevant for the transmission of monetary policy and the impact of financial conditions on aggregate demand is the medium-term trajectory, which is evidently that of an easing cycle. Fine-tuning monetary policy is very complex and the important signal is the medium-term trajectory.

    Geopolitical risks will play a role in the forthcoming monetary policy decisions. To what extent are the risks associated with the conflicts in the Middle East and the risks of a further escalation in trade tariffs pushing the ECB to take a prudent approach in reducing interest rates?

    Geopolitical factors play a very important role in our analysis. For example, the conflict in the Middle East has an impact on energy prices and upcoming elections could have an impact on international trade, global growth and inflation. This is one reason why we have to be very prudent with our decisions. When you are in a dark room full of uncertainty, for example because of geopolitical risks that you cannot control, you have to take very careful steps.

    Another important element is fiscal policy. Governments are now submitting their medium-term budgetary plans to the European Commission. This will give us more clarity on the fiscal outlook, which is an element that we take into consideration in our analysis and decision-making. So geopolitical risks, the possibility of distortions in international trade plus what will happen with fiscal policy will all feed into our decisions in the near future.

    In its new operational framework that came into force in September 2024, the ECB anticipates that a substantial contribution to providing liquidity to the banking sector will come from a structural portfolio of securities and from new longer-term refinancing operations, under conditions to be defined at a later date. What point has the discussion reached and what guidance is there?

    The operational framework has to be used to implement our monetary policy, it cannot condition it. And we have said very clearly that all monetary policy instruments in our toolkit remain available to us. This will include, for example, non-conventional measures, such as targeted longer-term refinancing operations and quantitative easing.

    Right now, we are in a situation of ample liquidity, which we are gradually reducing by discontinuing reinvestments, which will come to a complete halt at the beginning of next year. Once that liquidity has been significantly reduced, a combination of the monetary policy instruments at our disposal will help us deliver enough liquidity to the banking system.

    In my view, when we discuss the structural portfolio, we will need to take into account the actual liquidity situation of the banks and look not only at the average, but also at the dispersion in the banking sector. We have not decided on the size of the structural portfolio, but it will need to be large enough to deliver sufficient liquidity to the banking system.

    The latest monetary policy strategy review in 2021 took place at a time of strong deflationary pressures linked to various factors, including digitalisation and globalisation. Since then the landscape has changed. We find ourselves in a fragmented geopolitical context with the return of inflationary shocks. How will all this be reflected in the coming monetary policy strategy review? When will the discussion begin and what topics will it cover?

    We have established a couple of workstreams at the technical level to examine these factors, namely how the landscape has changed, how the new environment could have an impact on inflation, and our evolving policy toolkit. But this will not be discussed by the Governing Council until next year, with conclusions expected in the second half of 2025.

    What is crystal clear is that the definition of price stability as 2% inflation over the medium term will not be up for debate. And several other elements, such as the importance of financial stability considerations or accounting for climate change in our work, are already established. Instead, this review will mostly be an assessment of the previous strategy review while considering new elements, such as the changed economic and inflation environment, the possibility of deglobalisation and other structural elements that could affect the inflation outlook.

    Importantly, we will look at the consequences of measures we have used in the past. For every monetary policy decision, we need to look not only at short-term effects but also further ahead at possible unwanted effects. Quantitative easing, for example, is an instrument that proved to be very useful to fight deflation and the impact of the pandemic, but it also caused some side effects. In that respect, now that we have started the opposite process of quantitative tightening, we have much more information on the potential consequences of quantitative easing.

    Are you referring to fiscal side effects?

    No. I’m referring, for instance, to the impact on financial stability or on national central banks’ profit and loss accounts. These are side effects that can be better taken into consideration and that were not obvious at the time.

    Italy has seen inflation fall to below 2% from a high of close to 12% two years ago, and its growth rate is in line with the European average. While real disposable income is improving, investment is feeling the effects of a still restrictive monetary policy and politicians have criticised the ECB’s cautious stance in the last few months. How would you explain to Italian politicians and households the need for a cautious approach in reducing interest rates, and how do you plan to reassure them about the current transition from still restrictive interest rates to a more neutral stance?

    Above all else, we listen to all opinions carefully and with an open mind. The ECB and central banks are independent institutions, meaning that they need to display an additional level of responsibility and accountability.

    What I would say to Italian and European citizens is that it’s important to be cautious and prudent. We have reduced interest rates and the trajectory of our monetary policy is very clear, but there is a huge amount of uncertainty and we cannot make mistakes. That’s why a gradual approach to implementing monetary policy is essential.

    That being said, I’d like to reassure them that things are moving in the right direction. Inflation has fallen significantly. Most people look more closely at price levels than at inflation, but at the end of the day, current price levels are a consequence of past inflation. We can’t claim victory yet, but we have made good progress so far. And despite an economic slowdown, we have so far managed to reduce inflation without causing a recession in the euro area. When you look at the labour market, the situation remains positive. So I hope that in the medium term it will become more evident that we are on the right track.

    In its draft budget, the Italian government is seeking a contribution of around €3.5 billion from the banking sector by targeting deferred tax assets (DTAs). Has the ECB been consulted on the merits of this approach and what guidance is being formulated on this measure?

    In general, our assessment of banking sector taxes is quite clear from the legal opinions we have issued on proposals by several countries. Our view is that such taxes should not impair banks’ solvency or the transmission of monetary policy in terms of hampering the flow of credit to the real economy.

    In this specific case, we don’t have the definitive version of the tax yet, so it’s difficult to form an opinion about it. But I hope that solvency will be one of the items taken into consideration, which would be positive from our perspective.

    In my view, the design of the previous version of the tax was balanced, for example, because it made tax revenues and bank solvency compatible. Of the many approaches taken by other European countries that imposed taxes on the banking sector, I believe this was the most balanced one.

    Completing the banking union is one of the most urgent objectives that will make Europe more resilient and more competitive. Despite this, a cross-border merger like the potential merger between Unicredit and Commerzbank currently under discussion is treated as a national matter in both countries. What lessons can we learn from this and why is a cross-border merger between European banks still hitting the headlines in Europe in 2024?

    Given the importance of banks’ funding for the real economy, completing the banking union should be the number one priority on the European Union’s economic agenda. I acknowledge that there are political hurdles to achieving that, but it will be very difficult to have a real economic and monetary union without a banking union. Greater coordination of fiscal policy, for example through a common fiscal instrument or progress towards the capital markets union, would also be important.

    If you want a single banking market, you need to have genuine pan-European banks. This is why cross-border consolidation of the banking sector is important. I don’t discuss the merits of individual cases, but in my view, a European approach should prevail over a national one. That’s the way forward for European integration.

    In any case, our assessment of any merger and acquisition transaction is always based exclusively on prudential and solvency criteria. This is the guiding principle for us, based on European regulation.

    The Italian government has voiced its support for the merger between Unicredit and Commerzbank, which would strengthen European banking consolidation. At the same time, Italy is the only Member State that hasn’t ratified the treaty to reform the European Stability Mechanism (ESM), which is an important element in completing the banking union. How important will it be to remove this obstacle?

    In my previous answer, I referred to how important it is for a European approach to prevail over a national one. But this principle has to be consistent from all angles and in all kinds of situations. In my opinion, a pro-European approach to the integration of the economy, the banking system and the capital markets should be the one that prevails for all the items under discussion, including ESM reform. Ratifying the reformed ESM Treaty would be a clear pro-European decision.

    MIL OSI Economics –

  • MIL-OSI Europe: SEK 110 million in humanitarian assistance to Ukraine

    Source: Government of Sweden

    SEK 110 million in humanitarian assistance to Ukraine – Government.se

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    Press release from Ministry for Foreign Affairs

    Published

    Russia’s full-scale invasion of Ukraine continues to have devastating consequences – both military and humanitarian. The Swedish Government is therefore supporting Ukraine in a number of ways and has now decided on a new humanitarian support package of SEK 110 million. This support will primarily be used to meet the increased needs ahead of the winter.

    “Russia is targeting civilian infrastructure and has disrupted major parts of the heating and electricity supply in Ukraine. Naturally, the consequences of this are more serious the colder the weather gets. For this reason, a large part of the population are struggling to heat their homes and prepare food. The Swedish Government has therefore decided to provide SEK 110 million to a number of humanitarian actors in Ukraine,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

    The fact that Russia has mined large areas of Ukraine is a major problem and threat to people’s safety and lives. Russia’s full-scale invasion has forced millions of people to flee their homes and live as internally displaced people. Sexual violence against women has increased in these already vulnerable groups.

    “Sweden’s assistance will also go to mine clearance, which unfortunately will be an impending problem for a long time to come. The assistance will also go to addressing sexual and reproductive health needs and efforts to combat gender-based violence,” says Mr Dousa.

    “Sweden’s assistance to Ukraine is making a difference. We’re now helping to heat homes and clear the black soil from mines so that it can be used, feed people who are hungry and secure access to food,” says Aron Emilsson, foreign policy spokesperson for the Sweden Democrats.

    “A harsh winter is around the corner, in a situation in which Russia’s bombings have destroyed a large portion of critical infrastructure. We’re now assisting the Ukrainian civilian population with things that we take for granted here in Sweden – heating, water, sanitation and medicines – so that they can survive the winter,” says Gudrun Brunegård, development assistance policy spokesperson for the Christian Democrats. 

    “In order for Russia to lose the war and Ukraine to win, increased assistance is needed both for Ukraine’s infrastructure and to support the Ukrainian people. I’m proud that we’re now doing even more to help women in particular, as they have been especially severely affected by the war,” says Joar Forssell, foreign policy spokesperson for the Liberal Party. 

    Press contact

    About the humanitarian support package

    The humanitarian support package is divided between four organisations:

    • SEK 50 million is being allocated to the Ukrainian Red Cross Society (URCS). The Swedish Government will support URCS’s initiatives to meet humanitarian needs ahead of the winter, focusing on secure access to heating and electricity, and distribution of food, hygiene products, medicines and water.

    • SEK 20 million is being allocated to the UN Refugee Agency (UNHCR). Sweden is supporting Ukrainian refugees in a number of ways and will now also contribute to UNHCR’s efforts to assist internally displaced persons with preparedness and protection initiatives before and during the coming winter.

    • SEK 30 million is being allocated to the UN Development Programme (UNDP). The situation regarding landmines and unexploded ammunition remains difficult in major areas of Ukraine. UNDP is leading UN support to mine clearance in Ukraine. The organisation’s work, which focuses on surveying, prioritising and securing agricultural land, will need to be carried out for many years to come.

    • SEK 10 million is being allocated to the UN Population Fund (UNFPA). UNFPA’s humanitarian activities in Ukraine are helping address women’s sexual and reproductive health needs, prevent sexual and gender-based violence and provide support to people who have been subjected to violence. UNFPA is also helping rebuild and strengthen the health care system.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: OPDC pioneers innovative, money-saving technology as one of England’s first Heat Network zones

    Source: Mayor of London

    Old Oak & Park Royal paves the way for England’s future sustainable energy solutions as one the government’s first heat network zones.

    Announced as one of six designated heat network zones, Old Oak and Park Royal will be home to a new district heat network. The project, spearheaded by the Mayor of London’s development corporation, OPDC, will use pioneering innovative technology that draws waste heat from data centres to provide low-cost, low carbon energy to over 10,000 new homes, businesses, and a major hospital.

    The six selected towns and cities, including Leeds, Plymouth, Bristol, Stockport and
    London are part of the government’s plan to accelerate the delivery of heat networks across England in areas where zones are likely to be designated in the future. The
    learnings from these pilots will inform the work to reduce bills, enhance energy
    security, and achieve net zero by 2050.

    OPDC’s new heat network is expected to deliver 95GWh of heat across five phases between 2026 and 2040. The project was awarded £36m from the government’s
    Green Energy Heat Network Fund in November 2023 with procurement for a partner to help develop the network now in the final stages, an announcement on the successful delivery partner is expected in early 2025. In September, the corporation announced the acquisition of the site for the heat network’s energy centre in Park Royal. Before the site is transformed into the nerve centre for the new district heat network, OPDC is using the former warehouse building as a new circular economy hub, where small businesses recycle waste into new and useful products, including film and TV sets, furniture and other household items.

    OPDC’s district heat network will be in London’s largest Opportunity Area, benefitting new and existing communities living and working in the corporation’s planned new urban district. OPDC’s regeneration plans will see tens of thousands of new and affordable homes and 250,000m2 of commercial, retail and leisure development, high-quality public realm and community services and facilities, all surrounding HS2 and the Elizabeth Line at the new Old Oak Common Station.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New UK-EU Competition Cooperation Agreement

    Source: United Kingdom – Executive Government & Departments

    UK Government and the European Union have formally concluded technical negotiations on the UK-EU Competition Cooperation Agreement. 

    • Negotiations conclude to support international cooperation on competition 

    • Will allow for closer cooperation between CMA and EU’s competition authorities 

    • New agreement will supplement UK-EU Trade and Cooperation Agreement (TCA) 

    The UK Government and the European Union have formally concluded technical negotiations on the UK-EU Competition Cooperation Agreement. 

    This agreement is aimed at improving cooperation between the UK’s and EU’s competition authorities, allowing for greater dialogue between the Competition and Markets Authority in the UK and

    European Commission and the National Competition Authorities of the EU Member States. The agreement will ensure more effective enforcement of global competition laws, helping to support businesses both in the UK and EU as well as protecting consumers.

    This is expected to help when it comes to work on similar or parallel cases going forwards – for example cooperating and sharing information on investigations into companies for unfair competition practices which cross borders between the UK and EU Members States. This agreement is one example of where we can strengthen UK- EU cooperation for mutual benefit.

    Announcement complements the Prime Minister’s call at the International Investment Summit for UK regulators to support the Government’s growth mission.

    The UK and EU have negotiated the agreement with a view to signature in the coming year. Parliament will have the opportunity to consider the agreement in detail once the text is published for scrutiny.

    Business & Trade Secretary Jonathan Reynolds said: 

    This forthcoming agreement recognises the importance of our continued cooperation between UK and EU competition authorities. This milestone underscores our shared recognition of the importance of international cooperation in an increasingly globalised economy.

    When competition law is enforced well across global markets, it helps to ensure businesses and consumers are protected while supporting economic growth, which is why this agreement is so important.

    Sarah Cardell, CEO of the Competition and Markets Authority, said: 

    We welcome this cooperation agreement, which will allow us to work even more closely with EU competition authorities on shared cases and common competition issues – without unnecessary barriers. 

    Effective competition has a key role to play in driving economic growth so, with many companies now operating globally, it’s important that competition authorities can cooperate more freely with each other to get the best outcomes for fair-playing businesses and consumers.

    The UK Government is committed to promoting open and fair competition globally to ensure the best opportunities for UK businesses and consumers, which is why the agreement will help support those global aims via close international cooperation. 

    These types of agreements help to establish how competition authorities work with their overseas counterparts by providing a framework on how to work together.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Public advised of traffic and travel disruption ahead of Strabane Halloween festivities

    Source: Northern Ireland – City of Derry

    Public advised of traffic and travel disruption ahead of Strabane Halloween festivities

    29 October 2024

    To allow the Halloween festivities to take place in and around the town centre in Strabane next week there will be some minor traffic and travel disruptions on Thursday, 31st October that members of the public should bear in mind.

    Castle Street will be closed from 7am-6pm on Thursday, 31st October to facilitate the Halloween Family Friendly Events which are planned for the town centre.

    The fireworks display will take place at 7pm from Melvin Running Track.  The pedestrian footbridge and paths around Melvin Running Track will be closed to the public from 6.45pm-7.30pm to facilitate the fireworks. There will be restricted access for residents only on Melvin Road and Ballycolman Estate from 6.30pm-7.30pm. Members of the public are advised to use Strabane Sigersons GAA car park or the town centre car parks.

    Drivers are reminded that normal on-street parking restrictions will be in place and are advised not to obstruct any resident or business, or access for emergency services. Accessible viewing will be available at Melvin Arena carpark.

    The Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi Barr reminded everyone coming to Strabane to enjoy the Halloween festivities to make themselves aware of any disruptions which could affect their journey.

    “There are only a few days to go until we all come together to celebrate Halloween in Strabane. Council has worked hard to keep disruption to a minimum, but it would be beneficial if everyone could familiarise themselves with any closures ahead of next Thursday. Plan ahead and think about where you will park your car or how you will get to the fireworks display. Please adhere to the advice of Council staff when you are out and about,” she continued.

    “I hope everyone has their costume picked and are ready to enjoy the fireworks and all the Halloween entertainment planned for the Strabane area. Plan ahead, stay safe and have fun everyone.”

    Any residents with domestic pets who find that their animals may be sensitive to fireworks may wish to take measures to reduce the impact upon their animal for the display between 7pm and 7.20pm. Council apologises for any inconvenience this may cause.

    If you have any further queries, please do not hesitate to contact Liz Cunningham on 028 71 253 253 or email: [email protected]

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: York welcomes national children’s leaders to celebrate success

    Source: City of York

    UK government minister for Children and Families, Minister Janet Daby, with Matty, a young person from the Staying Close Programme

    Published Tuesday, 29 October 2024

    Young people and social workers in York met national children’s leaders last week as part of a visit to find out more about City of York Council’s work to transform services for children and young peo

    The government minister for Children and Families, Minister Janet Daby; Frances Oram, Children’s Social Care Reform, DfE; and Isabelle Trowler CBE, Chief Social Worker, met young people and children’s social care teams in York earlier this month [Wednesday 2 October].

    The Minister met young people from York’s I Still Matter, a group for young care leavers; as well as young people on the Staying Close programme, who are provided with wrap around support in their transition to live independently.

    The Minister also visited Clifton Family Hub, which will be home to York’s new dedicated SEND hub. Plans for the new hub gained approval last month and will bring together professionals from education, health and social care in the same place, supporting children and young people with Special Educational Needs and Disabilities and their families.

    The visit follows a period of significant change in the service, which has seen an end to the use of agency social workers, creating more consistency for children and families; the adoption of a new model of working, which puts children and young people at the heart of everything the teams do; and a significant reduction in the number of children in care, thanks to better early support for families.

    Martin Kelly, OBE, City of York Council’s Corporate Director of Children, Young People and Education, said:

    “I’m pleased that local young people have been able to share their own experience of our services with national leaders.

    “I hope their feedback about how our new-look services have helped them will help shape national policy around children and young people in the future.

    “I’d like to thank everyone who met the Minister and her colleagues over the course of the day. It was fantastic to hear the personal stories and see the positive impact our services make first hand. I’m incredibly proud of the team here in York and the work they’ve done to put children and families at the very heart of everything we do.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Ed Whiting OBE set to be appointed new permanent Leeds City Council chief executive

    Source: City of Leeds

    Full council to formally approve appointment in November

    Leeds City Council has today announced Ed Whiting OBE is set to be appointed as its new permanent chief executive.

    Following an extensive recruitment process which ended last week, full council will be asked to formally approve the recommendation of its employment committee to appoint Ed into the role when it meets at Civic Hall on Wednesday 13 November.

    Ed is currently Director of Cities and Local Growth in the Department for Business and Trade and Ministry for Housing, Communities and Local Government, based in Leeds, and is leading place-based economic growth partnerships with UK Mayors and other leaders.

    He has also held senior civil service roles in HM Treasury and 10 Downing Street. Previously he was Director of Strategy for Wellcome, where he led the development of their new organisational strategy and global partnerships, and was the executive sponsor for equality, diversity and inclusion.

    Ed is very familiar with Leeds having grown up in the city. He now lives in West Yorkshire with his partner, David, and they are foster carers to a young baby.

    Leader of Leeds City Council Councillor James Lewis said:

     “Throughout the extensive recruitment and selection process, Ed’s understanding of Leeds, our collective city ambitions, our values, our challenges and ideas for the future made him the best candidate for the role. I am looking forward to working with Ed as we move forward with our positive vision for the future, one which recognises the amazing strengths and opportunities we have and focuses on tackling poverty and inequality, whilst delivering high-quality public services for everyone who lives and works in our city.”

    On his recommendation for the post Ed Whiting OBE said:

    “I’m over the moon to be recommended to full council as our next chief executive. I love Leeds and am excited to be part of the next chapter of our city’s story. Through the recruitment process I’ve enjoyed getting to know Team Leeds better, and have been impressed with the dedication across our council team and partners, and the strong shared commitment to do their best for all Leeds residents.

    “I’m looking forward to joining the team as we work together on both the challenges and opportunities that lie ahead for our brilliant city.”

    Ed is expected to join the council early next year, with Mariana Pexton remaining in post as interim chief executive until then. The new permanent chief executive succeeds Tom Riordan CBE, who left the council last month after 14 years in the role.

     

    ENDS

     

    For media enquiries please contact:

    Leeds City Council communications and marketing,

    Email: communicationsteam@leeds.gov.uk

    Tel: 0113 378 6007

     

     

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Virgin Media O2 and Jangala help Coventry people connect

    Source: City of Coventry

    Virgin Media O2 has helped thousands of people affected by data poverty get online with free WiFi through its partnership with technology charity, Jangala.

    Virgin Media O2 and Jangala have reached a milestone of providing more than 1,000 internet-enabling ‘Get Boxes’ to charities and local authorities across the UK. The organisations are committed to rolling out 5,000 Get Boxes by April 2025.

    A Get Box is a book size device which can be plugged in to provide an instant and secure WiFi network, powered by free O2 mobile data, ensuring that those in need can stay connected.

    The O2 mobile data is provided by the National Databank, founded by Virgin Media O2 and charity, Good Things Foundation, which is like a foodbank but provides free O2 data, texts and calls to those who need it.

    It forms part of Virgin Media O2’s sustainability strategy, the Better Connections Plan, and the company’s goal to connect one million digitally excluded people through free and affordable connectivity and services.

    Free, fast and secure WiFi

    Get Boxes are helping low-income families and people who would otherwise be disconnected get online via free fast and reliable WiFi.  Those already benefiting include people who are unemployed, the elderly, those who are living in temporary accommodation and refuges.

    It means they can access essential services, such as applying for work, booking medical appointments, or building their skills via online training courses, and is helping them stay connected to loved ones.

    The devices, which can connect up to 20 people at time, have been distributed by local authorities, including Coventry City Council, and the Royal Borough of Kensington and Chelsea, as well as charities such as digital inclusion charity, AbilityNet, and Roundabout, a youth housing charity providing shelter, support and life skills to young people aged 16-25 who are homeless or at risk of homelessness.

    Coventry City Council has received hundreds of Get Boxes to help vulnerable residents living in temporary accommodation get online.

    The council has partnered with organisations such as Valley House and the Salvation Army, and distributed the devices to places such as hostels and houses across the city.

    Cllr Richard Brown, Cabinet Member for Strategic Finance and Resources at Coventry City Council, said:

    “All aspects of our lives are increasingly heading online. Employment opportunities, public services and everyday tasks rely on the Internet more than ever.  That’s why we are working so hard to reduce the digital divide in our city.

    “Having such supportive, committed partners like Virgin Media O2 and Jangala has been essential to the continued success of that work.

    “These Get Boxes are really fantastic pieces of kit and the feedback we’re getting from residents is excellent.”

    Grace*, who has been using a Get Box to get online, said:

    “I was very happy. Like this, I can speak more with my family. I have not seen them for one year. I cried with happiness when I got the box.”

    Nicola Green, Chief Communications and Corporate Affairs Officer at Virgin Media O2, said:

    “Virgin Media O2 is proud to be leading the way in helping those in need to get online.

    “Our partnership with Jangala is providing a lifeline to thousands of people who otherwise would be disconnected, giving them access to the online world so they can do everything from booking medical appointments to accessing digital skills training, or simply staying in touch with loved ones.

    “It builds on the measures Virgin Media O2 is taking to tackle data poverty. Whether it’s free O2 data from the National Databank, rehoming devices and data with people who need them via Community Calling, or offering reduced broadband and mobile plans for people receiving benefits, we’re committed to helping people in need stay connected.”

    Rich Thanki, Managing Director at Jangala, said:

    “Jangala is very proud to be partnering with Virgin Media O2 to help connect thousands of people across the UK who have faced digital exclusion, helping people access important services, communication with family and friends and all that Internet access brings.

    “Our low-cost and open source Get Box, designed at the outset of the Covid lockdown, and our work with Virgin Media O2, the National Databank, local councils and groups across the UK, is a great demonstration of the power of collaborative tech for good”

    Organisations can apply for Get Boxes by visiting Jangala’s website.

    Virgin Media O2 also supports Jangala’s global Emergency Response programme, where the company provides funding and O2 data for Jangala’s award-winning Big Boxes. Big Boxes are deployed during global humanitarian crises, enabling disaster response teams and communities to access WiFi.

    On top of this, Virgin Media O2 has also rehomed 20,000 smartphones with people who need them as part of its Community Calling initiative with environmental charity, Hubbub.

    *Name has been changed.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Local entrepreneur sets up shop in city centre Pop Up

    Source: City of Portsmouth

    Local entrepreneur and e-tailer JAQUARD&Co are the second business to open in the city centre Portsmouth Pop Up shop. This business started online last year and has already achieved a six figure turnover selling quality home furnishings and décor. They will open for business on Saturday 2 November in the Portsmouth Pop Up shop located in Cascades.

    Paula Haq, entrepreneur and owner of JAQUARD&Co said:

    “I am thrilled to take on the Portsmouth Pop Up shop as a new experience for one of my brands. Not only will it give me exposure and new insights, but it is also a development for my business that I am grateful to explore.

    With the success of JAQUARD&CO online, I would love to see my small business expanding here in Portsmouth alongside the other upcoming brands I’m working on.

    The Portsmouth Pop Up scheme is a great opportunity for me to test run a physical store alongside my online business and grow my business”

    The Portsmouth Pop-Up shop, a joint venture between Portsmouth City Council, Cascades, and Flude, opened in February to address the increasing demand for business space in the city. The first tenant, Goly Natural, a local natural skincare business, has been so successful that they plan to establish a permanent shop next year.

    The Portsmouth Pop Up enables local entrepreneurs and small businesses to trade in a high street location without the commitment or cost of a longer-term lease.

    Councillor Steve Pitt, Leader of the council with responsibility for Economic Development said:

    “Despite changing behaviour on the high street, the retail property market remains promising. Pop Up shop schemes can help to bring life back into towns and city centres, whilst giving independent businesses a great opportunity to have a shop front in a prime retail location.

    It is fantastic to see the Portsmouth Pop Up initiative thriving and supporting local businesses like JAQUARD&Co to grow. This is a fantastic example of how we’re working together to regenerate the city centre. “

    Paula added:

    “I’ve been buying and selling products and services since I was 21 alongside my everyday job. When I bought my first house , decorating was my favourite thing to do. The homeware market was short on the things I wanted and instantly that became a business idea.

    I’m very excited to be opening my first ever store and I’m ready for the challenge”

    JAQUARD&Co move into Cascades ready for Christmas offering a range of simple, quality and affordable home furnishings and décor including, cushions, throws, candles, ornaments, dinnerware and kitchenware.

    Businesses can apply to rent the pop-up shop in Cascades, in Portsmouth’s city centre for a minimum of 13 weeks giving them a chance to engage with customers and launch products and services.

    For more information about Portsmouth Pop Up 

    MIL OSI United Kingdom –

  • MIL-OSI USA: Administrator Samantha Power Meets with Executive Chairman of the Tony Blair Institute for Global Change Tony Blair

    Source: USAID

    The below is attributable to Spokesperson Benjamin Suarato:‎

    Today, Administrator Samantha Power met with former Prime Minister of the United Kingdom Tony Blair to discuss cooperation between USAID and the Tony Blair Institute for Global Change (TBI). Administrator Power and former Prime Minister Blair discussed TBI’s longstanding partnership with Power Africa and progress on rural electrification and other shared priorities aimed at improving access to affordable and reliable electricity in sub-Saharan Africa.

    Administrator Power and former Prime Minister Blair also discussed humanitarian efforts to meet the ongoing and urgent needs in the Middle East, initiatives for advancing digital development, and opportunities to support countries experiencing democratic openings, including Guatemala.

    MIL OSI USA News –

  • MIL-OSI USA: Acting Deputy Administrator Michele Sumilas During the World Bank Annual Meetings

    Source: USAID

    The below is attributable to Deputy Spokesperson Shejal Pulivarti:‎

    From October 23 through 25, Acting Deputy Administrator Michele Sumilas participated in various engagements during the World Bank Annual Meetings. Throughout the week, she engaged USAID’s partners on shared priorities, including boosting food security and climate action, as well as collaborating on humanitarian assistance.

    On Wednesday, Acting Deputy Administrator Sumilas represented USAID at a signing ceremony, where Secretary of the Treasury Janet L. Yellen and Ukrainian Minister of Finance Sergii Marchenko marked the intention of the United States to join G7 efforts to make lending available to Ukraine, and provide a $20 billion U.S. loan to Ukraine that will be repaid by proceeds derived from Russia’s frozen assets. 

    Acting Deputy Administrator Sumilas then participated in a roundtable hosted by the Coalition on Disaster Resilient Infrastructure (CDRI), which featured Ministers from Angola, Bhutan, Chad, Comoros, India, Nigeria, and Madagascar. The roundtable provided an opportunity for participants to discuss how the Coalition can be responsive to infrastructure needs in Africa. 

    On Thursday, Acting Deputy Administrator Sumilas met with Denmark’s State Secretary for Development Policy Lotte Machon to discuss cooperation on food security, climate action, advancing democracy, and joint efforts on humanitarian assistance in Gaza and Ukraine. 

    The Acting Deputy Administrator also participated in a fireside chat, along with Norway’s Minister of International Development Anne Beathe Tvinnereim and Investisseurs & Partenaires (I&P’s) Jean-Michel Severino, Chair of the Supervisory Board, at the Financing for Agricultural Small-and-Medium Enterprises in Africa (FASA) Fund Launch, hosted by the Embassy of Norway. USAID and Norway announced that the United Kingdom and Republic of Korea have joined USAID as partners in the FASA Fund, which will help unlock additional commercial capital. In addition, Norway and USAID announced that Investisseurs and Partenaires (I&P) – a pioneering impact investment group dedicated to financing and supporting African entrepreneurs while strengthening entrepreneurial ecosystems across the African continent – was competitively selected as the FASA fund manager. 

    On Friday, Acting Deputy Administrator Sumilas met with the United Kingdom’s Second Permanent Under-Secretary Nick Dyer to discuss U.S.-UK shared priorities. She also met Brazil’s Ambassador to the United States Maria Luiza Viotti to discuss key development priorities of Brazil’s G20 presidency, including the Global Alliance Against Hunger and Poverty to include recognition of Brazil’s support for their role in Multi-National Security Support Missions in Haiti, and continued efforts to aid Venezuelan migrants and refugees in Brazil. 

    MIL OSI USA News –

  • MIL-OSI: Mastering Document Verification with Reference Data: Key Insights from Regula’s Talk at INTERDOCPOL Congress

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., Oct. 28, 2024 (GLOBE NEWSWIRE) — At the 3rd International Congress of INTERDOCPOL, Regula’s identity verification expert Inga Voronko spotlighted a breakthrough for document verification: the power of precise and comprehensive reference data. This often-overlooked resource, she explained, is key to enhancing verification accuracy and combating fraud in today’s digital-first world.

    The congress, organized by INTERDOCPOL, a non-profit association working to improve security protocols and practices, provides a platform for law-enforcement professionals and forensic experts from all over the world to collaborate on fighting document fraud. This year’s event, held on October 23 and 24, 2024 in Les Franqueses del Vallès, Spain and themed “Document Fraud: New Points of View,” brought together all-women experts from state and private organizations to share knowledge of the most effective methods of detecting forged and tampered IDs.

    Inga Voronko showcased how using a comprehensive and detailed reference system can enhance the accuracy and efficiency of document verification.

    Image: At the INTERDOCPOL International Congress, Regula’s expert highlighted the importance of using comprehensive reference data in document verification.

    While skilled professionals and advanced technology are essential, reference data also contributes a lot to the quality of identity verification. Accurate verification requires understanding exactly which security features a genuine document should have, where those features are located, how they should look, and what unique properties they possess. With thousands of different identity documents in circulation across the globe, no expert can memorize all the features of every document. This is where reference data becomes crucial.

    With over 30 years of experience in identity verification and forensic research, Regula has created one of the most advanced Information Reference Systems. It contains over 337,000 images of more than 12,000 unique identity documents from 225 states and international organizations, providing vital data for detecting fraudulent documents. In fact, it is the first reference system that covers IDs from every country and territory in the world.

    The images in Regula’s Information Reference System are captured in laboratory conditions, using forensic devices that ensure high optical resolution. This highlights the smallest nuances in security features, such as holograms, watermarks, and specific printing techniques, all of which are essential for verifying document authenticity.

    Moreover, images are captured under various light sources—such as white, infrared, and different wavelengths of ultraviolet lighting—so that verifiers can inspect documents across different spectrums and detect hidden or altered features that may not be visible to the naked eye.

    Today, it’s not enough to simply rely on what you see. Document forgery has become so sophisticated that to be able to detect it, experts need more than technologies: they need a reliable source of reference data, which is constantly updated to be as comprehensive as possible. That is what Regula has been working at for more than 30 years, accumulating deep knowledge and creating the largest digital collection in the world, containing all sorts of documents.

    About Regula

    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the largest library of document templates in the world, we create breakthrough technologies in document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security or speed. Regula was repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

    Learn more at www.regulaforensics.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eda18c0c-ced9-45de-a8e9-e901db370477

    The MIL Network –

  • MIL-OSI: International Petroleum Corporation Announces Results of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 111,400 IPC common shares (ISIN: CA46016U1084) during the period of October 21 to 25, 2024 under IPC’s normal course issuer bid / share repurchase program (NCIB).

    IPC’s NCIB, announced on December 1, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.

    During the period of October 21 to 25, 2024, IPC repurchased a total of 87,500 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

    For more information regarding transactions under the NCIB in Sweden, including aggregated volume, weighted average price per share and total transaction value for each trading day during the period of October 21 to 25, 2024, see the following link to Nasdaq Stockholm’s website:

    www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares

    A detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of October 21 to 25, 2024 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is available with this press release on IPC’s website: www.international-petroleum.com/news-and-media/press-releases.

    During the same period, IPC purchased a total of 23,900 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Capital Markets Inc. on behalf of IPC.

    All common shares repurchased by IPC under the NCIB will be cancelled. As at October 25, 2024, the total number of issued and outstanding IPC common shares is 120,751,038 with voting rights and IPC holds 484,000 common shares in treasury.

    Since December 5, 2023 up to and including October 25, 2024, a total of 7,957,782 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm. A maximum of 8,342,119 IPC common shares may be repurchased over the period of twelve months commencing December 5, 2023 and ending December 4, 2024, or until such earlier date as the NCIB is completed or terminated by IPC.

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		  

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15

    This information is information that International Petroleum Corporation is required to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the contact persons set out above, at 12:15 CET on October 28, 2024.

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements with respect to: the ability and willingness of IPC to continue the NCIB, including the number of common shares to be acquired and cancelled and the timing of such purchases and cancellations; and the return of value to IPC’s shareholders as a result of any common share repurchases.

    The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; our ability to maintain our existing credit ratings; our ability to achieve our performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that we will be able to implement our standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; our intention to complete share repurchases under our normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of our common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

    Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including the war between Ukraine and Russia and the conflict in the Middle East, and their potential impact on, among other things, global market conditions; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Readers are cautioned that the foregoing list of factors is not exhaustive.

    Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in IPC’s annual information form for the year ended December 31, 2023 (See “Cautionary Statement Regarding Forward-Looking Information”, “Risks Factors” and “Reserves and Resources Advisory” therein), in the management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2024 (See “Cautionary Statement Regarding Forward-Looking Information”, “Risks Factors” and “Reserves and Resources Advisory” therein) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Five-year plan commits to Sheffield being a proud dementia-friendly city Sheffield has a new citywide dementia plan to provide people with dementia and their families with the right support and care. 28 October 2024

    Source: City of Sheffield

    Sheffield’s skyline

    Sheffield has a new citywide dementia plan to provide people with dementia and their families with the right support and care.

    The Council, key partners across the city, people living with dementia and their families have all worked together to inform the plan, which aims for Sheffield to become a proud dementia-friendly city.

    It will be discussed next week by members of the Adult Health and Social Care Policy Committee who will be asked to approve the plan, which will run from 2025-2030.

    Councillor Angela Argenzio, Chair of Adult Health and Social Care Policy Committee at Sheffield City Council, said: “Our vision is to make sure people with dementia are supported by being in the right environment, with the right support around them. At committee today, the Council and its key partner organisations signed up to a five-year plan, designed as a result of research and conversations with providers and people and families with lived experience of dementia. It focuses on what they have said is important to them.

    Nine commitments make up the plan:

    • Sheffield will become a Dementia friendly city
    • More will be done to prevent, reduce, and delay, the risk of developing dementia
    • Improved access to dementia diagnosis at the earliest possible stage for the people of Sheffield.
    • Support will be personalised, local and accessible, to help people with dementia to remain independent for as long as possible
    • High quality support to families and carers of people living with dementia in Sheffield will be provided
    • People living with dementia and their carers will receive care and support that recognises and works with them as individuals
    • Families and staff will be supported to plan ahead to reduce the likelihood of dementia related crisis
    • Improved care for people with dementia attending hospital
    • Personalised, good quality palliative and end of life care when needed

    Councillor Angela Argenzio added: “We’re driving this work forward with the NHS South Yorkshire Integrated Care Board, all of our partners from both the statutory, voluntary sector and working with communities because we need to be better at supporting the diverse needs of this group of people.

    “In Sheffield, we know that our success will be because we have adopted a multi-agency approach in supporting people across the city. It’s the working together that will be key. Supporting people with dementia and their families and those who work with dementia effectively will only be possible by having a focus on doing the things that we know have been agreed as a result of what people living with dementia have told us is important. Working in partnership is key to us all making progress together.

    “One of the biggest highlights from the results showed how difficult lives can become for those living with dementia if there isn’t consistency. Consistency makes a world of difference. Our job is to make sure they are fully supported, and we want to achieve this through these commitments.”

    Grace Stead from ‘Enrichment for the Elderly’ delivers Dementia Stars training in the city funded by Sheffield City Council through Dementia Advice Sheffield. This training helps professionals and volunteers understand dementia better and the training is designed to meet the diverse needs of Sheffield’s communities.

    Grace said: “When supporting my nan with dementia people just didn’t understand how best to support her. The negative impact on her, me and those around her was huge. These dementia commitments will help us to put people with dementia at the centre of what we do, working together to support the person with dementia and the people around them with better understanding at the heart of it.” 

    People in the city who have done Dementia Stars training speak highly of the difference it has made to them: 

    “I wish I would have had this training years ago; it would have helped me support my mum better who had dementia, but it will now support my practice.”

    “This has been the best learning experience I have ever had! Inspiring, it makes you want to make a difference to people’s lives.”

    More information about dementia training is available here: https://www.ageuk.org.uk/sheffield/our-services/dementia-services-professionals/das-training/

    It’s estimated that there are over 6,000 and up to around 7,300 people aged over 65 currently living with dementia in Sheffield, which is between 6.7% and 7.7% of the 94,840 people aged 65 years and over in the city. Approximately 140 people under 65 in Sheffield live with young onset dementia. Dementia support and awareness in Sheffield has increased over the last 5 years, however, the growing impact of an aging population on dementia prevalence means the number of people living with dementia is predicted to keep increasing.

    The Council is committed to helping to prevent and reduce the risk of developing dementia right across a person’s life through the many programmes for which it holds responsibility to deliver. There are ways that some types of dementia can be prevented, or the risk of dementia reduced. Dementia risk includes factors starting at early years and education; and includes environmental factors such as exposure to air pollution. 

    Some risk factors that can be changed to reduce the risk of dementia are similar to those recommended to people to keep their heart and circulation healthy such as increasing physical activity, reducing alcohol consumption, and reducing smoking. Social contact is really important for everyone, and this is the case for people at risk of developing dementia or who already have dementia. Research has also found that using aids for hearing and visual problems can also reduce the risk.

    Sheffield Dementia Action Alliance (SDAA) is a network of organisations who want to help communities, organisations and businesses do more for people affected by dementia: reducing stigma, increasing understanding, and making small but significant changes to buildings and environments to make them more accessible for people with dementia. Over the past 5 years SDAA has recruited and supported over 80 members who have made over 200 pledges to make their organisations more dementia friendly. This has included community centres, train operators, places of worship, theatres, libraries, charity shops and pubs.

    Work on the strategy and what it aims to achieve will be formally launched on the morning of Wednesday 27th November at an event for people with dementia and their families, providers, and partners. Taking place at Niagara Conference and Leisure Centre, Niagara Road, Sheffield, S6 1LU, resources, advice, information and more on the city’s dementia plan will be available.

    There are limited spaces so early booking is advised at Dementia Strategy Launch Event Tickets, Wed, Nov 27, 2024 at 9:30 AM | Eventbrite

    The new citywide Dementia Strategy 2025- 20230is here and there is a range of resources and information on www.sheffielddirectory.org.uk

    More information about risk and prevention is here: Dementia prevention, intervention, and care: 2024 report of the Lancet standing Commission – The Lancet

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Unregistered boats on River Thames: fines and costs total £18,000

    Source: United Kingdom – Executive Government & Departments

    Clear warning to unregistered boat owners on the Thames as owners failed to register their boats despite warnings. More to face court in coming months

    Lindum, owned by Battersea boater Drystan Brod

    Staines magistrates’ court had a busy day on 22 October as 14 owners were sentenced to pay more than £18,000 for failing to register their boats for use on the River Thames.

    Environment Agency enforcement officers discovered these vessels during spot checks in December 2023 at Penton Hook Marina in Surrey. The inspection showed unacceptably high levels of registration evasion with a quarter of the boats in the marina, around 125 vessels, failing to have been registered. Every boat-owner was traced and given ample warning and opportunity to register their boats correctly.

    The court was told that all owners had skipped the annual registration fee, determined by the length and width of the boat. A couple of them had skipped it twice. Duncan Heyward and Tony Davies, both of Chertsey, were found guilty of owning two unregistered vessels and had to pay compensation accordingly.

    The highest charges were issued to Drystan Brod of Battersea for his boat, Lindum – more than £2300 including costs, fines, compensation and victim surcharge. Full details of all fines below.

    Colin Chiverton, environment manager for Surrey at the Environment Agency, said:

    This was a great day for the majority of Thames boat-owners who register their vessel with us every year. Just like us, they’re fed up with seeing this unlawful behaviour take place on the river every year. We’re pleased with this outcome, and it sends a clear warning to all unregistered boat owners – it’s just not worth the risk.

    At the end of November, we have another day in court with a further 14 owners facing the music. So, if you have an unregistered boat on the Thames, you should know that our enforcement teams are still out in October, patrolling the river and checking for valid registrations.

    Renewal invitation letters for 2025 registrations on the River Thames are to be sent in November to everyone that registered their boat this year and owners are encouraged to register early to ensure their boats are compliant by 1 January, when the new season starts. The Environment Agency’s approach to non-registration on the Thames has changed – boat-owners are given ample opportunity to register their boat. However, once a summons has been issued, it won’t stop court proceedings, even if the boat owner subsequently pays their registration fee.

    Similar to excise duty for road vehicles, boat registration fees allow the Environment Agency to manage and maintain more than 600 miles of inland waterways across England, keeping them open and safe for thousands of boaters to enjoy.

    Background:

    Owners of powered or non-powered boats, including paddleboards, must register their boats annually with the Environment Agency for use on the non-tidal River Thames.

    Boat registration on the Thames starts on 1 January every year. Any boats found on the water after that date, without having registered, may be liable to a fine.

    In mid-September 2024 during a river wide census, Environment Agency officers recorded the locations of 10,890 boats on the river.

    Boats can be registered by calling 03708 506 506 or going to River Thames: boat registration and application forms – GOV.UK (www.gov.uk)

    Offender/age/address/boat[s]/pleas/compensation order/costs/victim surcharge/fine

    Des Higgins, 64, of Graham Court, Northolt, Middlesex, PRINCESS BURFORD. Pleaded not guilty then changed plea at court to guilty. £803.60. £250. £80. £120.

    Stephen Hale, 54, of Bridge Court, Chertsey, Surrey. LADY RUTH. Found guilty in absence. £994.14. £275. £88. £220.

    Drystan Brod, 50, of Birley Street, Battersea, London. LINDUM. Found guilty in absence. £1724.00. £275. £88. £220.

    Duncan Hayward, 40, of Hill Rise, Richmond, Surrey. MAVERICK III/TT MAVERICK III. Found guilty in absence – 2 offences. £1065.15/£23.20. £275/nil. £24/nil. £60/NSP

    Mark Geeson, 53, of Gaston Way, Shepperton, Middlesex. PORTIA. Found guilty in absence. £970.47. £275. £88. £220

    Tony Davies, 70, of St Annes Road, Chertsey, Surrey. BULTRUG/REDWATCH. Pleaded guilty at court – 2 offences. £923.13/£887.64. £250/nil. Nil/nil. No separate penalty/NSP.

    Andrew Graham, 53,  of Wellington Terrace, Basingstoke, Hampshire. BUSTAROON. Found guilty in absence. £757.44. £275. £88. £220.

    Hugo Handford, of Chichester Road, West Wittering, West Sussex. DAJA. Found guilty in absence. £331.00. £275. £88. £220.

    Tim Cartwright, 64, of Elder Road, Bisley, Surrey. CHARLIE BEN. Found guilty in absence. £678.44. £275. £88. £220.

    Brian Harvey, 60, of Queens Road, Hersham, Surrey. SEA DANCER. Found guilty in absence. £520.74. £275. £88. £220.

    Scott Cole, 52, of Grafton Road, Acton, London. ALKYON. Found guilty in absence. £284.04. £275. £88. £220.

    Lee Davis, 49, of Meadow View, Chertsey, Surrey. TUBS. Found guilty in absence. £473.40. £275. £88. £220.

    Maciej Firla-Cuchra, 49, of The Broadway, Laleham, Surrey. JEWNA. Found guilty in absence. £426.06. £275. £88. £220.

    David Harding, 73, of Easton, Wells, Somerset. Le BATEAU DE BOIS. Pleaded not guilty, then changed plea at court to guilty. £736.02. £275. Nil. NSP.

    Contact us:

    Journalists only: 0800 141 2743 or communications_se@environment-agency.gov.uk.

    Updates to this page

    Published 28 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Dinosaur Trail brings roar-some fun to city centre

    Source: Scotland – City of Aberdeen

    Locals and visitors alike took part in a new dinosaur trail in the city centre throughout the October holidays. 

    The Iconic Bricks Dinosaur Trail was a two-week event from 12th to 27th October which saw 18 brick model dinosaurs placed in businesses across the city centre, with free car parking also available in two city centre car parks. 

    Aberdeen City Council Co-Leader Councillor Christian Allard said: “It has been wonderful to see so many people taking part in the Iconic Bricks Dinosaur Trail and exploring our city centre. 

    “My grandchildren loved the trail, and I would like to extend my thanks to each business who took part and helped create a fun and exciting atmosphere across the city centre.”

    Education and Children’s Services Convener Councillor Martin Greig said: “This has been a great way for all ages to visit the city centre and take part in a fun new event. 

    “Dinosaurs are always a popular attraction for children and adults alike and has helped capture imaginations.” 

    Visitors taking part in the trail were able to get an insight into how each model was made and learn more about the creations, including how many bricks were used to build the model and learn a fun dinosaur fact. 

    Monica and her family from Aberdeen said: “This has been lovely for the children and a great free activity to do. We have enjoyed walking around the city doing the trail.” 

    Businesses taking part in the trail recorded seeing increased footfall, with the Maritime Museum having had its busiest week since 2019. 

    Kenny Bruce, Trinity Centre Aberdeen Manager, said: “Trinity Aberdeen was delighted to take part in the Ionic Bricks Dinosaur Trail this year, the event has brought increased visitors to the centre and seen our stores offer unique dinosaur discounts in Shot n Roll and Resting Brunch Face, even a special guest appearance from The Works mascot Rex the Dinosaur.

    “It’s fantastic to support an event that offers customers a chance to come and explore our city centre.”

    Lynne Clark, Communications Lead for Michies Pharmacy, said: “The Iconic Bricks Dinosaur Trail has been a roaring success for Michies! It has been a joy to see so many children and families through our doors, many of whom have never visited Michies before. It was a wonderful initiative to get people out and about having fun and exploring our city centre!”

    The Hidden Lego Minifigure Trail also ran throughout the October Holidays, which saw small Lego figures hidden across ten shop windows around the Upperkirkgate and Belmont Street area for people of all ages to find in a treasure-hunt style challenge. 

    Once each minifigure was found, there was the chance to enter into a prize draw to win an Aberdeen Gift Card worth £20. 

    Additional activities also took place throughout the October Holidays across businesses taking part in the trail, including storytelling and dinosaur-themed Bookbug. 

    The Iconic Bricks Dinosaur Trail received £30,000 from the UK Government through the UK Shared Prosperity Fund. 

    Free weekend parking is still available in the Denburn and Frederick Street car parks throughout October and the first weekend in November. Parking for £1 will be available after 5pm at Virginia Street, the Gallowgate, Frederick Street, Summer Street, Chapel Street, West North Street and the Denburn. Normal charging rates will resume from 8am.  

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Speech by CE at MTR 45th Anniversary Cocktail Reception (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Chief Executive, Mr John Lee, at the MTR 45th Anniversary Cocktail Reception today (October 28):

    Deputy Commissioner Fang Jianming (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region), Dr Rex Auyeung (Chairman of MTR Corporation), Dr Jacob Kam (Chief Executive Officer of MTR Corporation), distinguished guests, ladies and gentlemen, 

         Good evening. It gives me great pleasure to join you today, in celebration of the 45th anniversary of the MTR Corporation. 

         Just look around our beautiful city, and you would know how this is a true milestone. Building a mass transit railway system in a city packed with people and skyscrapers, surrounding a deep harbour. And with towns scattered amid hilly countryside and mountainous terrain, alongside vast pieces of land dedicated as country parks and natural conservation areas. It is a remarkable feat. 

         And yet, here we are, 45 years later, proud to call the MTR one of the world’s top transit systems. One that delivers reliable, efficient and safe journeys for the people of Hong Kong, and beyond.

         According to last year’s Urban Mobility Readiness Index, Hong Kong’s public transport system tops the world, number one. That’s thanks to our extensive transport infrastructure, as well as a wide range of high-quality and affordable transport modes – with the MTR playing a major part.

         Earlier this year, two different international media outlets included Hong Kong among their rankings of the world’s best “metro” and “public transport” systems, respectively. One of them reported that “transit planners flock to Hong Kong from across the globe to discover how its Mass Transit Railway delivers world-class service and reliability to the territory’s 7.4 million citizens”. And another added that “92 per cent of Hongkongers praised their city’s transit system”. 

         That’s as reaffirming as it is encouraging, ladies and gentlemen – as I’m sure it is to everybody in the MTR Corporation, too. 

         Today, the MTR railway network handles the daily commutes and travelling of more than 5 million passenger trips in our city. It also connects us to our country, via the Hong Kong Section of the high-speed rail. That strengthens the people-to-people bonds, and business ties, between Hong Kong and a great many cities across the Mainland. 

         More than that, the MTR Corporation is now an international entity, with its service spanning across the Mainland, Australia, the United Kingdom and Sweden. Its network carries over 10 million passengers worldwide every weekday.

         And while we’re certainly not just getting going, not after 45 years, we’ve got a lot more in the works – plans built around “infrastructure-led” and “capacity-creating” principles, with railway forming the backbone of our public transport system.  

         Last year, the Government published the Hong Kong Major Transport Infrastructure Development Blueprint, which presents a planning framework for Hong Kong’s transport infrastructure future, designed to meet transport and logistics demand up to 2046 and beyond.

         That includes two railway projects to help drive the full potential of the Northern Metropolis, our new engine of economic development. The Hung Shui Kiu Station and the Northern Link Main Line will begin construction this year and next year for tentative completion in 2030 and 2034, respectively.  

         And, as I noted in my Policy Address two weeks ago, the MTR Corporation will begin detailed planning and design for the Northern Link Spur Line early next year. This vital, cross-boundary railway will connect San Tin Technopole and the Hong Kong-Shenzhen Innovation and Technology (I&T) Park in the Loop, the area set to become an international I&T powerhouse – all the way to the new Huanggang Port in Shenzhen. That will certainly fast-track Hong Kong’s integration with the Guangdong-Hong Kong-Macao Greater Bay Area.

         The Government has been working closely with the MTR Corporation to take forward the planning and design of these projects. And we will continue to co-ordinate their construction and project commissioning.

         The Government is also committed to realising three smart and green mass transit systems – in East Kowloon, Kai Tak and the Hung Shui Kiu/Ha Tsuen New Development Area. We’re working to compress the implementation programmes, enabling the public to enjoy their social and economic benefits as quickly as possible.  

         And we’re pressing ahead, too, with the planning of the Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai).  

         Add it up, and it’s a hugely ambitious undertaking. On completion of our railway construction projects, our railway network is expected to increase from about 270 kilometres today, to nearly 390km. 

         The long-term profits and the long-term benefits are equally huge. They include the capacity to drive territory-wide developments, deepen cross-boundary integration, expand commuting options, improve traffic conditions, reduce journey time and realise long-term, far-reaching, socio-economic benefits for Hong Kong. For us all. 

         My congratulations, once again, to the MTR Corporation on your milestone 45th anniversary. My presence here is to reiterate once again how I personally feel proud of our MTR. I am sure each one of you shares this pride. I look forward to your continued success in the next 45 years, and more.   

         Thank you.         

    MIL OSI Asia Pacific News –

  • MIL-OSI: QuestionPro Appoints Chris Robson as Vice President, Managed Services

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 28, 2024 (GLOBE NEWSWIRE) — QuestionPro, a global leader in online survey and research services announces Chris Robson has joined the company in the newly created position of Vice President, Managed Services. Robson will create this new division which is focused on helping QuestionPro customers get the most out of its robust research platform.

    Well known as a research industry thought-leader, Robson is a mathematician by training who has worked at both large enterprises as well as startups. Immediately prior to joining QuestionPro, he was the Global Head of Data Science at Human8, a global brand consultancy where he developed new methodologies including the application of Generative AI and LLMs. Earlier in his career he managed advanced research teams and large software teams (70+ people) at HP.

    He was also Chief Innovation Officer and Global Head of Research Science at ORC, where he led a team of analysts and statisticians to embrace and adopt new approaches for data-centered insights. Robson also co-founded and ran two successful research analytics agencies: Parametric Marketing and Deckchair Data. He holds a Bachelor of Science with Honors in Mathematics from the Brunel University of London.

    Robson will have overall responsibility for establishing and growing QuestionPro’s Managed Services Group which provides services to clients who need assistance to go above and beyond the capabilities of the company’s existing suite of research platforms. This can include project management, study design, custom programming, reporting and analytics. Whether it is providing end-to-end project support, simply customizing the appearance of a single question or running advanced analytic methods the group ensures that clients can get the answers they need for their business decisions.

    In particular, Robson will apply his deep expertise in Artificial Intelligence (AI) to not only integrate AI across the QuestionPro platform, but also leverage it for new ways to drive consumer insights through emerging techniques like synthetic data.

    “I’ve known and worked with Chris for close to 20 years,” said Vivek Bhaskaran, founder and CEO of QuestionPro. “In fact, he helped build some of our early features like MaxDiff and others. It’s great to have him on board full time to launch a new division and also ensure our customers benefit from the application of AI across our platform.”

    About QuestionPro:
    Founded in 2006, QuestionPro is a global provider of online survey and research services that help companies make better decisions through data. Our fully integrated online platform includes surveys, research & insights, customer experience (CX) and workforce/employee experience software. We additionally offer polling, journey mapping, employee 360s and data visualization. Our clientele ranges from small businesses to Fortune 100 companies, who rely on us for insights about customers, employees, and the marketplace. With offices in the US, Canada, Mexico, U.K., Germany, Japan, Australia, the United Arab Emirates and India, we offer customers 24-7 access to highly trained support specialists and engineers. More information is available at www.questionpro.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9035859-cb80-41e3-be32-21eab55be2d3

    The MIL Network –

  • MIL-OSI: Viewpointsystem Joins the AR Alliance for Augmented Reality Wearable Devices

    Source: GlobeNewswire (MIL-OSI)

    PISCATAWAY, N.J., Oct. 28, 2024 (GLOBE NEWSWIRE) — The AR Alliance announces that Viewpointsystem, a leader in the development of advanced eye tracking and gaze tracking solutions, including eye-tracking-based smart glasses, has joined the alliance as an associate member.

    The AR Alliance provides a supportive and neutral environment for organizations of all sizes to take an active role in advancing and strengthening the augmented reality hardware development ecosystem. Diverse organizations across the expanding, global AR ecosystem work together through the AR Alliance to speed innovation of breakthrough technologies and processes for building AR wearables and devices that create a meaningful and positive experience for users.

    “We are building AR together,” said Dr. Bharath Rajagopalan, Chair, AR Alliance, and Director of Strategic Marketing, STMicroelectronics. “The promise of AR and its potential market are so vast that there is ample room for all our member companies to succeed together. The AR Alliance is the place where concrete work takes place to harmonize approaches for advancing, unifying, and growing the global AR supply chain and accelerating innovation. We are excited for Viewpointsystem to join us in this important work and bring their technology leadership in eye tracking to help enable the AR market.”

    “Eye tracking is one of the most promising technologies to unlock the full potential of AR,” explained Nils Berger, CEO and Founder of Viewpointsystem. “It already enhances AR experiences with intuitive controls, like selecting objects with your eyes. But its potential goes far beyond that, enabling the detection of cognitive load and emotional states, allowing devices to respond seamlessly to users’ needs. At Viewpointsystem, we’ve moved eye tracking from the lab to real-world applications, showing its readiness for future mass-market AR devices.”

    About the AR Alliance
    The AR Alliance Founding Board Members are represented by STMicroelectronics, META, Essilor Luxottica, Corning, Dispelix, Optofidelity, MICROOLED, Google, and Qualcomm.

    Organizations of every size and at any spot in the ecosystem are respected, heard, and advocated for via the AR Alliance’s non-competitive environment. Flexible membership levels allow companies of varying strategies, maturity, and resources to engage.

    To learn more about membership in the AR Alliance, please visit www.thearalliance.org.

    About Viewpointsystem
    Viewpointsystem, an innovative deep-tech company based in Vienna, Austria, is at the forefront of integrating eye tracking into industrial and commercial applications. Specializing in enhancing operational efficiency, the company develops internationally award-winning smart glasses used by enterprise customers worldwide.

    Their technology is particularly valuable in areas like manufacturing, maintenance, and training, where it aids in real-time guidance and decision-making. With experience from over 200 use cases across five verticals, Viewpointsystem helps businesses streamline processes, reduce errors, and improve overall productivity.

    Viewpointsystem’s integration technology, Digital Iris Inside, sets a new industry benchmark by providing proven, best-in-class eye tracking and human insight technology ready for integration into external devices. Viewpointsystem continues to lead the way in evolving the technology from mere eye tracking to comprehensive perception and emotional analysis in human-machine interaction​.

    MEDIA CONTACTS

    Areeb Lakhani
    Program Manager – The AR Alliance
    Areeb.Lakhani@ieee-isto.org

    Jana Riethausen
    PR & Communications Lead – Viewpointsystem
    j.riethausen@viewpointsystem.com

    The MIL Network –

  • MIL-OSI China: Chinese supply chain expo to promote global industrial cooperation

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 28 — The second China International Supply Chain Expo will be held in Beijing from Nov. 26 to 30, and will focus on promoting international cooperation in industrial and supply chains, a Chinese trade official said on Monday.

    As the world’s first national-level exhibition focusing on supply chains, the expo aims to connect upstream, midstream and downstream sectors, bring together enterprises of various sizes, and help companies better integrate into global industrial and supply chains, said Zhang Shaogang, deputy director of the China Council for the Promotion of International Trade, at a press conference.

    This year’s expo will feature more than 600 domestic and foreign exhibitors. Overseas exhibitors will constitute 32 percent of participants at the 2024 expo, up from 26 percent at the first expo held last year, Zhang said.

    U.S. companies will contribute the largest share of overseas participation at the expo this year, while the number of participants from Europe and Japan will also significantly surpass that of the first expo, Zhang added.

    This shows foreign investors remain optimistic concerning the outlook of the Chinese market and that China is still considered their top supply chain partner for global resource allocation, said Zhang.

    Similar to last year, the expo will have areas dedicated to supply chains for clean energy, smart vehicles, digital technology, healthy living, green agriculture and supply chain services.

    In addition, this year’s expo has introduced a new exhibition area dedicated to advanced manufacturing chains — showcasing the latest achievements in the integration of technological and industrial innovation.

    Unlike many expos, the supply chain expo is not about showcasing products. It is, instead, about presenting chains, ecosystems and scenarios, Zhang added.

    Rather than focusing on short-term transactions, it emphasizes long-term cooperation and common development among upstream, midstream and downstream enterprises, Zhang explained. Exhibitors attend not to compete for clients, but to join hands and seek partnership.

    Hungary is the guest country of honor at this year’s expo. The Hungary Pavilion will showcase Hungary’s leading industries, unique resources, cultural heritage, beautiful landscapes and national brand image.

    MIL OSI China News –