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Integrated Power Services übernimmt Vermögenswerte des Geschäftsbereichs ABB Industrial Services

GREENVILLE, South Carolina, Sept. 05, 2024 (GLOBE NEWSWIRE) — Integrated Power Services (IPS), ein nordamerikanischer Marktführer für die Wartung, Entwicklung und Wiederaufarbeitung von elektrischen, mechanischen und Energiemanagementsystemen, hat die Übernahme des Geschäftsbereichs ABB Industrial Services mit Wirkung zum 31. August 2024 abgeschlossen. Mit Standorten in Arizona, Indiana, North Carolina, Alberta und Ontario bietet ABB Industrial Services Reparatur– und Vor–Ort–Service für Elektromotoren mit bis zu 50.000 PS und Nieder– und Mittelspannungsschaltanlagen von 480 V bis 15 kV in höchster Qualität. Diese Servicezentren führen auch Reparaturen an rotierenden Geräten wie Pumpen, Kompressoren, Gebläsen, Lagern, Getrieben und OHV–Antriebssträngen für den Bergbau durch.

„Diese Übernahme ermöglicht es IPS, Standorte hinzuzufügen, an denen Kunden uns aufgefordert haben, Dienstleistungen anzubieten“, so John Zuleger, President und CEO von IPS. „Diese fünf Standorte werden unsere Kapazitäten in den Bereichen erneuerbare Energien, Kupferabbau und industrielle Dienstleistungen im Bereich Energiemanagement auf dem Anschlussmarkt erweitern. Darüber hinaus wird IPS nun 115 weitere talentierte Mitarbeiter sowie die bewährte Technologie und das Know–how aus dem Portfolio von General Electric und ABB an diesen neu erworbenen Standorten beherbergen.“

Die Übernahme von ABB Industrial Services folgt der Übernahme des ABB–Geschäfts für die Reparatur von Wasserkraftgeneratoren und Transformatoren durch IPS im Juni 2022. Die fünf ABB–Servicecenter für Elektromotoren, Generatoren, Mechanik, Schaltanlagen und Leistungsschalter für die Industrie waren Teil einer Übernahme von General Electric Industrial Solutions durch ABB im Juni 2018.

„IPS ist auf 88 Standorte angewachsen und bedient die Vereinigten Staaten, Kanada, das Vereinigte Königreich, Europa und die Karibik“, so Zuleger. „IPS strebt danach, der einzige Ansprechpartner und vertrauenswürdige Berater für die kritischen Infrastrukturherausforderungen unserer Kunden zu werden. Mit einem Dienstleistungsangebot, das von der Stromerzeugung und industriellen Prozessen über Umspannwerke und Stromübertragung bis hin zu elektrischen Anlagen und Elektromotoren reicht, bietet IPS die breiteste Palette an Dienstleistungen und ist in der Lage, Probleme zu lösen, die nur wenige Anbieter bewältigen können. Wir sind bestrebt, die Zuverlässigkeit zu revolutionieren, indem wir unsere Vision und Fähigkeit weiterentwickeln, auf die größten Zuverlässigkeitsprobleme unserer Kunden zu reagieren, sie zu überdenken und zu lösen.“

Über Integrated Power Services (IPS)  
Integrated Power Services (IPS) ist ein führender Anbieter von Dienstleistungen, Entwicklung und Wiederaufarbeitung für elektrische, mechanische und Energiemanagementsysteme. Mit einem Schwerpunkt auf branchenspezifischem Fachwissen und einem umfassenden Leistungsspektrum unterstützt IPS kritische Infrastrukturen bei einer Vielzahl von Kunden. IPS hat seinen Hauptsitz in Greenville, South Carolina, und betreibt das größte Netzwerk der Branche mit Service– und Vertriebszentren, Außenstellen und strategisch günstig gelegenen Lagern in ganz Nordamerika, Großbritannien und der Karibik. Jeder Standort von IPS ist so ausgestattet, dass er komplexe Herausforderungen bewältigen, neu durchdenken und lösen kann. Er bietet Zugang zu einem umfangreichen globalen Talentpool und Ressourcen für nahtlose Lösungen aus einer Hand. Weitere Informationen finden Sie unter www.ips.us.

Zur sofortigen Veröffentlichung  
Medienkontakt: Casey Blevins, VP of Marketing 
pr@ips.us oder 864.451.5617

Ein Foto zu dieser Mitteilung ist verfügbar unter https://www.globenewswire.com/NewsRoom/AttachmentNg/d8d7aa53–e1c6–42e1–b5ef–dd18db565202


GLOBENEWSWIRE (Distribution ID 9225647)

Integrated Power Services fait l’acquisition des actifs de l’activité ABB Industrial Services

GREENVILLE, Caroline du Sud, 05 sept. 2024 (GLOBE NEWSWIRE) — Integrated Power Services (IPS), un leader en Amérique du Nord spécialisé dans l’entretien, l’ingénierie et la remise à neuf de systèmes électriques, mécaniques et de gestion de l’énergie, a finalisé le 31 août 2024 son acquisition de l’activité ABB Industrial Services. Depuis ses installations en Arizona, Indiana, Caroline du Nord, Alberta et Ontario, ABB Industrial Services offre des capacités de réparation et de service sur site de la plus haute qualité pour les moteurs électriques jusqu’à 50 000 HP et les équipements de commutation basse et moyenne tension de 480 V à 15 kV. Ces centres de service assurent également la réparation des équipements rotatifs, y compris les pompes, compresseurs, souffleurs, roulements, boîtes de vitesses et groupes motopropulseurs des véhicules hors route.

« Cette acquisition permettra à IPS d’élargir son offre dans les régions où les clients nous ont demandé des services », a déclaré John Zuleger, Président et PDG d’IPS. « Ces cinq sites renforceront nos capacités dans les domaines des énergies renouvelables, de l’extraction du cuivre et des services industriels après–vente de gestion de l’énergie. De plus, IPS accueillera désormais 115 employés talentueux supplémentaires, ainsi que la technologie et l’expertise issues de l’héritage de General Electric et d’ABB sur ces sites récemment acquis. »

L’acquisition d’ABB Industrial Services fait suite à l’acquisition par IPS de l’activité de réparation d’hydrogénérateurs et de transformateurs d’ABB en juin 2022. Les cinq centres de services industriels d’ABB pour les moteurs électriques, les générateurs, la mécanique, l’appareillage de commutation et les disjoncteurs faisaient partie de l’acquisition de General Electric Industrial Solutions par ABB en juin 2018.

« IPS a développé son activité dans 88 sites, couvrant les États–Unis, le Canada, le Royaume–Uni, l’Europe et les Caraïbes », a ajouté John Zuleger. « IPS aspire à devenir la seule référence, le conseiller de confiance auprès de nos clients pour relever les défis qu’ils rencontrent en matière d’infrastructures critiques. Avec une offre de services qui couvre la production d’énergie et les processus industriels, les sous–stations et la transmission, l’équilibre électrique de l’usine et les moteurs électriques, IPS fournit la gamme de services la plus large et peut ainsi résoudre des problèmes que peu de fournisseurs sont capables de traiter. Nous sommes déterminés à révolutionner la fiabilité en faisant progresser notre vision et capacité à relever, repenser et résoudre les plus grands défis de nos clients en matière de fiabilité. »

À propos d’Integrated Power Services (IPS)  
Integrated Power Services (IPS) est un leader spécialisé dans l’entretien, l’ingénierie et la remise à neuf de systèmes électriques, mécaniques et de gestion de l’énergie. En privilégiant une expertise propre à l’industrie et une gamme complète de compétences, IPS soutient les infrastructures critiques de clients très variés. Avec son siège à Greenville, en Caroline du Sud, IPS exploite le plus grand réseau du secteur, avec des centres de service et de distribution, des bureaux locaux et des entrepôts stratégiquement situés en Amérique du Nord, au Royaume–Uni et dans les Caraïbes. Chaque site IPS est équipé de manière à relever, repenser et résoudre des défis complexes, offrant un accès à une vaste réserve de talents et de ressources à l’échelle mondiale pour des solutions intégrées, provenant d’une source unique. Pour en savoir plus, consultez notre site sur www.ips.us.

Pour publication immédiate  
Contact médias : Casey Blevins, VP du marketing 
pr@ips.us ou 864.451.5617

Une photo accompagnant ce communiqué est disponible à l’adresse suivante : https://www.globenewswire.com/NewsRoom/AttachmentNg/d8d7aa53–e1c6–42e1–b5ef–dd18db565202


GLOBENEWSWIRE (Distribution ID 9225647)

Ittihad announces Half Year 2024 Financial Results

ABU DHABI, United Arab Emirates, Sept. 04, 2024 (GLOBE NEWSWIRE) — Ittihad International Investment LLC (“Ittihad”; the “Company”), the leading industrial conglomerate in the UAE, today announces its Half Year 2024 Financial Results.

Financial Highlights – H1 2024 vs H1 2023

  • Group Revenue of $1.6 billion (AED6.0 billion) vs $1.5 billion (AED5.4 billion)
  • Group Adjusted EBITDA* of $73.6 million (AED270.4 million) vs $67.9 million (AED249.4 million)
  • Accelerated deleveraging towards short term leverage target, with gross debt leverage of 5.0x at H1 2024 (down from 5.3x as of December 31, 2023), and adjusted net leverage* 3.0x as of H1 2024, down from 3.4x as of December 31, 2023.
  • Healthy H1 2024 free cash flow generation of $49.4 million after funding $17.0m of capital expenditure, out of which $10.6 million was used towards growth capex and the balance towards maintenance capex.
  • Stronger balance sheet with net cash and cash equivalents of $146.8 million, and readily marketable inventories (RMI) of $135.4 million as at half year 2024.
  • On July 15th 2024, Ittihad successfully completed a $100 million tap on its original $350 million sukuk certificates. The proceeds from this new issuance were utilized to refinance existing debt, thereby extending the Company's debt maturity profile and enhancing its financial flexibility.

Operational Highlights

  • Consumer Goods Manufacturing (CGM): Recovery in EBITDA margin resulted in a 11.4% increase in H1 2024 compared to H1 2023 and 33% increase compared to H2 2023 ($34.3m vs $25.8m). This improvement was driven by a favorable price–volume mix and a gradual improvement in market conditions, where inventory levels, particularly in paper and chemicals, became more balanced after the significant corrections in H2 2023. However, despite the significant EBITDA growth, margin recovery was still partially constrained by rising shipping costs in certain global markets due to geopolitical tensions in the Red Sea region. As these issues ease, there is potential for further margin improvement.
  • Infrastructure and Building Materials Manufacturing (IBMM): Bolstered by strong market fundamentals and robust demand driven by the energy transition, as well as sustained investments in infrastructure and real estate development across the region, the Company successfully built on the 74% EBITDA growth achieved in H1 2023 compared to H1 2022. The positive outlook for this segment continued, with an additional 10% growth in H1 2024 compared to H1 2023, reaching $22.8 million, up from $20.7 million.
  • Commercial operations started at the newly established copper upcycling facility. This strategic initiative is set to enhance the company's margins and operational efficiency. The manufacturing facility is aligned with Ittihad's commitment to sustainability by increasing the use of recycled materials in its copper rod production, contributing to a greener environment while simultaneously driving financial growth.
  • Business Services:. EBITDA grew by 8% in H1 2024 compared to the same period in 2023 ($20.9 million vs. $19.4 million). This increase was primarily driven from securing new long–term contracts in infrastructure and operation and maintenance of the sewage network, totalling $64 million.
  • Healthcare and other: The Healthcare segment is navigating an increasingly competitive market, leading to pressures on margins across the board. However, the company is strategically adapting to this challenging landscape by shifting focus from capital equipment sales to a more sustainable revenue model centered around recurring healthcare consumables. This transition not only aligns with evolving industry demands but also enhances cash flow stability through shorter cash cycles, ensuring a more resilient business model in the future.
  • As part of our ongoing commitment to not only achieving strong financial performance but also contributing positively to the environment and society, the company has made a significant progress in the implementation of its ESG program. Further details on this important initiative will be provided in our inaugural sustainability report, which is scheduled for release in the coming weeks

Outlook

  • Organic growth and sustainability will remain the primary focus areas over the next five years.
  • The Company has a short–term leverage target of 2.5x – 3.0x (net of bank balances and cash and RMI) and is focused on meeting this leverage target in the short to medium term.
  • Ittihad is well–placed to capitalise on strategic M&A opportunities and is strategically positioned to expedite its investment plans while exploring additional avenues for raising capital.

* Note on adjustments:

“Adjusted EBITDA” is defined as net profit (loss) for the year / period from continuing operations plus finance costs, tax, depreciation, amortisation, and changes in the fair value of derivative financial instruments

“Adjusted net leverage“ is defined as gross debt minus cash balances and readily marketable inventories (RMI) to adjusted EBITDA

Amer Kakish, Chief Executive Officer of Ittihad, said:

“I am proud of our company's sustained growth and resilience as we continue to navigate a dynamic business environment. Our performance reflects not only the strength of our market position in key sectors, but also our commitment to seizing new opportunities that drive long–term value for our stakeholders.

We remain focused on delivering higher returns through expansions and innovation, while maintaining rigorous financial discipline. By balancing growth with a strong financial foundation, we ensure that our company is well–positioned to capitalize on future opportunities, creating lasting value for our shareholders and partners.”

For further information please contact:

Ittihad International Investment
Zahi Abu Hamze
Chief Financial Officer
+971 506128603

Wasfi Al Tayara
Corporate Finance and Investor Relations Manager
+971 501307449
investor.relations@ittihadinvestment.ae

MHP Group
James McFarlane / Veronica Farah / Hugo Harris
+44 7584 152665 / +44 7710 117517 / +44 7593 391044
Ittihad@mhpgroup.com

Overview

The Company achieved a record revenue and an adjusted EBITDA of AED 11.0 billion and AED 530.6 million respectively for the twelve month period ending June 30, 2024, despite facing macroeconomic challenges, including geopolitical conflicts that disrupted supply chains. This success was driven by a recovery in CGM margins, supported by a favorable price–volume mix and lower input costs, as well as sustainable EBITDA in the IBMM and Business Services segments, thanks to strong market fundamentals and a solid market position.

Our ability to generate long–term recurring revenues, attract new customers, and diversify our sales globally without relying heavily on a single market enabled us to navigate challenging market conditions and consistently meet our financial targets.

Revenue increased by AED 561.4 million, or by 10.3 per cent., to AED 6.0 billion in the six months ended 30 June 2024 from AED 5.4 billion in the six months ended 30 June 2023, primarily due to increase in commodity prices including paper, copper, and chemicals.

Adjusted EBITDA increased by AED 21.0 million, or by 8.4 per cent., to AED 270.4 million in the six months ended 30 June 2024 from AED 249.4 million in the six months ended 30 June 2023, primarily due to recovery of EBITDA in the chemicals and paper businesses as a result of higher prices of finished goods.

Segmental Performance

Consumer Goods Manufacturing (CGM)

CGM comprises three product lines: Printing and writing paper, tissue, and chemicals used in detergents and personal care products. The nature of the products the Company manufactures are fast moving essential goods which enables its Consumer Goods margins to remain relatively resilient during economic downturns. In the six months ended 30 June 2024, the Company's three consumer goods products accounted for [15] per cent of the Company's revenue and 46.5 per cent of its adjusted EBITDA.

Revenue decreased by AED 96.3 million, or by 9.7 per cent., to AED 899.7 million in the six months ended 30 June 2024 from AED 996.0 million in the six months ended 30 June 2023, primarily due to lower prices of paper and tissue driven by a lower pulp price.

Adjusted EBITDA increased by AED 12.9 million, or by 11.4 per cent., to AED 125.8 million in the six months ended 30 June 2024 from AED 113.0 million in the six months ended 30 June 2023, primarily due to increased sales volumes as a result of recovery in demand from downstream sectors of chemicals following a period of destocking and significant correction in raw material prices in 2023.

Infrastructure and Building Materials Manufacturing

IBMM division comprises three product lines: Refined copper rods, steel bars, and cement. The copper business enjoys a positive outlook due to strong demand propelled by the increasing adoption of alternative energy sources and electric vehicles, aligned with global trends favoring energy transition initiatives. Similarly, the overall building materials segment has experienced a surge in sales and improved margins, fuelled by substantial infrastructure investments and heightened construction activity in key markets such as the UAE and Saudi Arabia. In the six months ended 30 June 2024, IBMM accounted for [77.5] per cent of the Company's revenue and 31 per cent of its adjusted EBITDA.

Revenue increased by AED 626.2 million, or by 15.6 per cent., to AED 4,647.5 million in the six months ended 30 June 2024 from AED 4,021.3 million in the six months ended 30 June 2023, primarily due to higher price and demand for copper, cement and steel from global and regional markets on account of a strong push for energy transition, digitalisation, real estate and infrastructure projects.

Adjusted EBITDA increased by AED 7.6 million, or by 10.0 per cent., to AED 83.8 million in the six months ended 30 June 2024 from AED 76.2 million in the six months ended 30 June 2023, primarily due to higher sales volume in the copper and steel business, followed by improved margins across all division businesses.

Business Services

The Company's business services division provides: Long–term procurement, maintenance, and operation of radiology departments in Government–owned hospitals; Operation and maintenance services for infrastructure networks, wastewater treatment plants, sewage network and sewage treatment plants; and city cleaning and municipal waste collection. In the six months ended 30 June 2024, Business Services accounted for [5.6] per cent of the Company's revenue and 28.4 per cent of its adjusted EBITDA.

Revenue increased AED 41.2 million, or by 13.9 per cent., to AED 336.7 million in the six months ended 30 June 2024 from AED 295.5 million in the six months ended 30 June 2023, primarily due to an increase in work orders and O&M contracts across all businesses of the division.

Adjusted EBITDA increased by AED 5.7 million, or by 8.0 per cent., to AED 76.8 million in the six months ended 30 June 2024 from AED 71.1 million in the six months ended 30 June 2023, primarily due to newly set–up city cleaning and waste management operation in KSA and an increase in work orders in the operation and maintenance of sewage network and landscaping businesses.

Healthcare and other

The division comprises of healthcare, fund management, logistics and transportation, and interior design services for government and the private sector. These businesses, in alignment with our Business Services division, have minimal asset requirements and operate in sectors with promising growth prospects. In the six months ended 30 June 2024, Healthcare and other accounted for [1.9] per cent of the Company's revenue and –1 per cent of its adjusted EBITDA.

Revenue decreased by AED 7.9 million, or by 6.7 per cent., to AED 111.4 million in the six months ended 30 June 2024 from AED 119.4 million in the six months ended 30 June 2023, primarily due to a softening in demand for medical lab equipment, operating theatres, hospital beds and office furniture.

Adjusted EBITDA reduced to a loss of AED 2.8 million in the six months ended 30 June 2024 from a gain of AED 3.9 million in the six months ended 30 June 2023, primarily due to softer demand for medical and lab equipment.

Outlook

Ittihad expects year–over–year EBITDA growth to be sustained throughout 2024. Moreover further margin improvements can be anticipated in the Consumer Goods segment once geopolitical tensions ease and Red Sea shipping constraints are resolved.

From an operational standpoint, Ittihad anticipates further efficiencies in the value chain mainly driven from a capacity ramp up in the copper upcycling plant, and the revenue increase from additional contracts in the city cleaning and waste collection operation in Saudi Arabia.

Looking ahead, the Company's primary focus over the next five years will be on organic growth and sustainability. Expansion into Saudi Arabia will remain a key priority, alongside ongoing investments in human capital development and the advancement of our ESG program.

About Ittihad

Ittihad is a privately owned business founded in 2008 and headquartered in the United Arab Emirates (UAE), with investments in the UAE, Saudi Arabia, and Egypt. The Company exports products and services to over 50 countries worldwide. It has a talented team of more than 8,000 members from over 57 nationalities with sector–wide expertise and a commitment to operational excellence.

Since 2015, Ittihad has pursued a strategy of investing in businesses with leading domestic positions in the UAE and the Gulf Cooperation Council (GCC), as well as strong international export potential. The Company focuses on long–term investments, all structured for business–to–business (B2B) export and designed to capture the unique value proposition offered by the UAE and the region.

Ittihad is committed to powering wealth creation through assets that balance profitability with sustainability and generate positive outcomes for stakeholders, society, and the planet.

This information is provided by Reach, the non–regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. 


GLOBENEWSWIRE (Distribution ID 9225285)

Food Security in Latin America and the Caribbean: Progress, Challenges and the Commitment to Move Forward

Over the past two years, food security in Latin America and the Caribbean has improved, with hunger levels dropping to 6.2% of the population—a reduction of 4.3 million people

A Peruvian farming family shares a moment of leisure during their agricultural work. Credit: FAO

By Mario Lubetkin
Sep 4 2024 – The latest publication of the State of Food Security and Nutrition in the World 2024 (SOFI) report launched last July in the framework of the G20 meeting in Rio de Janeiro provides a detailed overview of progress and setbacks in the fight against hunger.

At the global level, although we have made some progress, significant inequalities persist: while Africa remains the most affected region, Latin America shows positive signs of recovery, reflecting the impact of concerted efforts to improve food security.

Despite the region’s progress, the Caribbean and Central American subregions continue to experience challenges related to increasing hunger. We cannot afford to go backward. It is essential that we deepen our analysis of the visions and strategies that have shown positive results to continue this path

The road has not been easy. Following the COVID-19 pandemic, our region was one of the most affected by hunger, reaching its highest point in 2021 at 6.9 percent of the population, while 40.6 percent faced moderate or severe food insecurity. For several years, e observed how progress made in the early 2000s rapidly receded.

However, the last two years have seen a decline in hunger levels, with a rate of 6.2% of the population, representing a decrease of 4.3 million people, mainly driven by South America.

Investments in social protection programs in several countries in the region have been instrumental in driving this recovery. Social systems have enabled quick response and more effective allocation of available financial resources to the most vulnerable populations.

Despite the region’s progress, the Caribbean and Central American subregions continue to experience challenges related to increasing hunger. We cannot afford to go backward. It is essential that we deepen our analysis of the visions and strategies that have shown positive results to continue this path.

Six months after the FAO Regional Conference in Georgetown, Guyana, we are committed to providing tangible responses to the priorities established for countries to transform agrifood systems and achieve Better Production, Better Nutrition, Better Environment, and Better Life.

At FAO, we have initiated a process of high-level reflection with governments to share experiences of public policies aimed at guaranteeing food and nutritional security.

Like the rest of the world, our region must be prepared to face growing risks such as climate change, conflicts, economic crises, and other challenges.

Latin America and the Caribbean has shown that, with the right policies, we can move forward and offer concrete and sustainable responses. Only with a firm commitment can we put an end to hunger and malnutrition, leaving no one behind.

Excerpt:

Mario Lubetkin is FAO Assistant Director-General and Regional Representative for Latin America and the Caribbean 

Grath Expands Operations to The Middle East

LONDON, Sept. 04, 2024 (GLOBE NEWSWIRE) — Grath, a leading global platform for financial services and regulatory compliance technology, is excited to announce its strategic expansion into the Middle East with the opening of a new office in the prestigious Dubai International Finance Centre (DIFC). This expansion marks a significant milestone in Grath’s mission to provide world–class financial services, innovative regulatory compliance solutions, and cutting–edge technology to clients in the region.

Grath currently supports global leaders such as Deutsche Bank, Freetrade, Winterflood Securities, and StepChange. With the new DIFC office, Grath aims to extend its reach and expertise to support more world–class clients in the Middle Eastern region, further strengthening its role as a trusted partner in the financial ecosystem.

The new office at DIFC will serve as a central hub for Grath’s operations in the Middle East, offering enhanced support and localized services to our growing base of customers. By establishing a presence in Dubai, Grath is poised to tap into the vibrant financial ecosystem and leverage the DIFC's robust infrastructure, strategic location, and regulatory framework to drive growth and foster collaboration.

Matt Povey, CEO of Grath, expressed his enthusiasm for the expansion:

“We are thrilled to establish our presence in Dubai at the DIFC, a global financial center that embodies innovation and progress. This expansion aligns perfectly with our vision of global growth and reinforces our commitment to providing top–tier financial services and regulatory compliance technology to our clients. We look forward to the exciting opportunities this move will bring for both our company and our clients in the Middle East.”

Grath remains dedicated to its mission of delivering cutting–edge financial services and compliance technology, and the new DIFC office is a testament to the company's ongoing commitment to growth, innovation, and regulatory excellence.

Contact: Zac Radbone

Title: Head of Marketing, Grath

Email: zac.radbone@grath.com

Website: Grath.com


GLOBENEWSWIRE (Distribution ID 1000989943)

Lantronix Announces 2024 SmartEdge Channel Partner Program Award Winners

IRVINE, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity IoT solutions, today announced the winners of its 2024 SmartEdge™ Partner Program Awards, highlighting its top channel partners in North America; Asia Pacific; and Europe, Middle East and Africa.

“This year’s SmartEdge Partner Program winners are driving worldwide sales and developing relationships with our mutual customers, contributing to Lantronix’s position as a global compute and connect leader that is enabling edge intelligence with award–winning solutions for AI, Embedded, IoT and IT applications,” said Kurt Hoff, VP of Worldwide Sales at Lantronix. “We applaud their efforts and look forward to many more years of continued mutual success.”

Lantronix’s 2024 SmartEdge award winners are:

North America
SmartEdge Partner of the Year: TD Synnex
SmartEdge Innovation Partner: WWT
SmartEdge Software & Services Partner: Charter

Asia Pacific (APAC)
SmartEdge Partner of the Year: Nexty
SmartEdge Innovation Partner: Shanghai Scopecon Technology Co., Ltd.
SmartEdge Software & Services Partner: Sheeltron Digital Pvt. Ltd.
SmartEdge Newcomer: EDOM

Europe/Middle East/Africa (EMEA)
SmartEdge Partner of the Year: Atlantik Elektronik GmbH
SmartEdge Innovation Partner: Linkwave
SmartEdge Software & Services Partner: SOL
SmartEdge Newcomer: Netsecurity

For over two decades Lantronix has been providing its channel partners with a suite of reliable, secure and easy–to–deploy solutions, including out–of–band management, switches, system of modules (SoM) and trackers. As a global leader, Lantronix helps its customers increase productivity, all while supported by the exceptional Lantronix service team. Lantronix’s channel partners serve as an important part of the Lantronix customer support ecosystem.

“Winning the Lantronix SmartEdge channel partner award signifies our exceptional success as a valued channel partner for the EMEA region, bringing advanced solutions to leading organizations throughout the world,” stated Albert Windmeisser, line manager at Atlantik Elektronik GmbH.

“We are honored to win the prestigious SmartEdge award from Lantronix, a global leader in technology,” stated Steven Chaung, senior director at EDOM Technology Co Ltd. “Validating our position as one of Lantronix’s top channel partners in the APAC region, we are grateful to partner with Lantronix in bringing its innovative, award–winning solutions to the world’s leading organizations.”

“We are very proud to win Lantronix’s SmartEdge award, which acknowledges our success as a top channel partner for North America,” stated Ryan Abel, chief revenue officer at Charter Communications. “We are pleased to bring Lantronix’s exceptional AI, Embedded, IoT and IT solutions to the world.”

Lantronix’s SmartEdge Partner Program is designed to help Value–Added Resellers (VARs) and Systems Integrators (SIs) drive revenues by differentiating their offerings with Lantronix’s innovative Industrial Internet of Things (IoT), Out–of–Band Management (OOBM) and Mobility/Connectivity solutions.

For more information on the Lantronix SmartEdge Partner Program, visit https://www.lantronix.com/partners/.

About Lantronix

Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high–growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading–edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out–of–Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward–looking statements within the meaning of federal securities laws, including without limitation statements related to the 2024 SmartEdge Channel Partner Program, including statements about their reliability, security and flexibility industry position. These forward–looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward–looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID–19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10–K for the fiscal year ended June 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10–Q for the fiscal quarter ended March 31, 2024, filed with the SEC on May 2, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward–looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward–looking statements to reflect subsequent events or circumstances.

© 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:        
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949–212–0960

Lantronix Analyst and Investor Contact:        
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949–450–7241


GLOBENEWSWIRE (Distribution ID 9224975)

شركة Elite Rentals Dubai لتأجير السيارات تكشف النقاب عن يخت Lamborghini في خطوة تؤذن بحقبة جديدة في مجال تأجير اليخوت في دبي

دبي، الإمارات العربية المتحدة, Sept. 04, 2024 (GLOBE NEWSWIRE) — أصبحت شركة Elite Rentals Dubai حالياً الشركة الحصرية في مجال تأجير اليخوت مع إعلانها عن وصول يخت “لامبورغيني” (Lamborghini Yacht) إلى دبي لأول مرة في تاريخ تأجير اليخوت لأغراض الترفيه والإبحار. ونفخر جداً بالإعلان بأننا شركة تأجير اليخوت الوحيدة في دبي التي توفر تجربة الاستمتاع باليخوت الفاخرة. نحن متشوّقون للترحيب بكم على متن هذا اليخت وتحقيق حلمكم!

وقد أعرب Kristan De Graaf، المؤسس المشارك لشركة Elite Rentals Dubai، عن حماسته لهذه التجربة قائلاً: “إن الشعور بالقدرة على توفير خدمات راقية واستثنائية لعملائنا يساعدنا على الاستمرار في المضي قدماً. ونحن نفخر بامتلاك يخت Lamborghini الحصري، ويسرّنا للغاية أن نكون أول شركة في دبي تقدم هذه التجربة الفريدة للعملاء”.

من جانبه، قال Julian De Graaf، وهو أحد المؤسسين المشاركين في شركة Elite Rentals Dubai: “سيساهم يخت Lamborghini الخاص بنا في تحويل عالم تأجير اليخوت في دبي. وستتحوّل هذه التجربة الراقية الجديدة إلى معيار للباحثين عن الإثارة”.

توسيع نطاق خدماتنا

لا تقتصر خدمات شركة Elite Rentals Dubai على توفير يخت Lamborghini لعملائها فحسب، بل نعمل أيضاً على توسيع نطاق خدماتنا في مجال تأجير اليخوت في دبي. إذ نقدم حالياً مجموعة من العروض لجميع أنواع الفعاليات في مكان واحد، ونعمل على تزويدكم بكل ما قد تحتاجون إليه، سواء أردتم رحلة بحرية رومانسية أو تمضية وقت ممتع مع العائلة أو استضافة فعالية فاخرة لشركتكم. يمكنكم اختيار ما تفضلونه من أسطولنا الواسع من اليخوت التي تلائم جميع المناسبات.

لماذا يتعيّن عليكم اختيارنا؟

الحصرية في تأجير اليخوت

يمكننا القول بكل فخر أننا الشركة الوحيدة التي تملك يخت Lamborghini في دبي لتقديم الخدمات المترفة التي لم تشهدها مياه دبي من قبل.

أسطول رائع

نملك مجموعة واسعة من اليخوت الفاخرة التي تلائم جميع المناسبات وتتضمن وسائل راحة متطورة ومتميزة.

خدمات مميزة

نحن نحرص على تقديم تجربة لا تُنسى ونهتم باحتياجات عملائنا، من الوجبات الفاخرة ووسائل الراحة المتميزة وغيرها من الخدمات.

إن نص اللغة الأصلية لهذا البيان هو النسخة الرسمية المعتمدة. أما الترجمة فقد قدمت للمساعدة فقط، ويجب الرجوع لنص اللغة الأصلية الذي يمثل النسخة الوحيدة ذات التأثير القانوني.

جهات الاتصال:

العلاقات الإعلامية:
info@dubaiyachtbooking.com
Phone: +971 50 425 8131
https://dubaiyachtbooking.com

نتولى أيضاً توفير خدمة تأجير السيارات الفاخرة في دبي.

صفحاتنا على وسائل التواصل الاجتماعي:

“واتساب”: +971504258131
“إنستغرام”: @eliterentalsdubai

يمكنكم متابعة مدونتنا وصفحاتنا على “إنستغرام” و”فيسبوك” و”لينكد إن” و”بنترست” و”يوتيوب” و”تويتر” لمتابعة آخر أخبارنا.

تفضلوا بزيارتنا

برج مارينا مون، الرصيف 7 – مارينا بروميناد – دبي مارينا – الإمارات العربية المتحدة

روعة يخت Lamborghini :


GLOBENEWSWIRE (Distribution ID 1000989931)

ZRG Acquires Linked4HR, Adds Hicham Hachkal as Managing Director for Interim and HR Advisory in Middle East and Africa Regions

NEW YORK and DUBAI, Sept. 04, 2024 (GLOBE NEWSWIRE) — ZRG today announced the acquisition of Linked4HR Solutions' Executive Interim & HR Advisory services in the Middle East and Africa (MENA) region and the addition of Hicham Hachkal as Managing Director for Interim and HR Advisory.

Hicham Hachkal is a seasoned Human Resources executive with a distinguished career spanning over 25 years, marked by leadership in diverse, multinational environments. His deep expertise, combined with a strong academic background, has made him a recognized leader in the HR field.

As the Founder and CEO of Linked4HR, Hicham leveraged his extensive expertise to drive innovative HR consulting and interim executive placements, building from scratch a modern and innovative organization that experienced an exponential growth across the Middle East, Africa, and Europe. His leadership in these regions has been instrumental in shaping successful HR strategies and delivering exceptional results for a wide range of clients.

Prior to that, Hicham served as Interim Executive Consultant at Valtus, a leading European executive Interim firm, where he led the transformation of a start–up into a world–class institute. Technology Innovation Institute (TII) is recognized as a leading global advanced technology research center based in UAE and focuses on applied research and ground–breaking technology in Crypto, Secure System, AI/ML, Autonomous systems, Directed Energy, Digital Security, Advanced Material. and Quantum Computing.

His role as Vice President of Human Resources at Borr Drilling saw him spearhead strategic HR initiatives that drove significant growth globally, including a successful U.S. listing. With past roles at Seadrill, BG Group (now part of SHELL), and Schlumberger, Hicham has consistently demonstrated his ability to manage large–scale HR operations, drive business transformation, and enhance organizational effectiveness across multiple regions.

“We are thrilled to have Hicham Hachkal join our team at ZRG,” said Larry Hartmann, CEO of ZRG. “His extensive experience, strong educational background, and successful track record in HR leadership and interim executive placement will be invaluable as we expand our presence and capabilities in the Middle East and Africa. Hicham’s leadership and vision align perfectly with our commitment to delivering world–class talent solutions to our clients.”

Hicham Hachkal expressed his enthusiasm about joining ZRG Partners, stating: “I am delighted to be part of ZRG Partners. My experience as an HR leader across various countries and industries, combined with my successful entrepreneurship journey with Linked4HR, has prepared me for this next chapter. I am now thrilled to join forces with ZRG Partners to reach new heights and continue delivering exceptional value to our clients.”

Hicham holds a Master's degree in Human Resources Management from Arts et Métiers and a Postgraduate degree in HR from IEP (Science Po. Paris). His educational background has provided him with a robust understanding of both the strategic and operational aspects of HR, which he has applied throughout his career.

About ZRG

ZRG is a global talent advisory firm that is revolutionizing how companies hire and manage talent. With a data–driven approach to executive and professional search, ZRG is changing the way clients think about finding top talent. The company’s digital Zi platform combines talent intelligence, candidate insights, and process improvements to deliver executive searches more quickly and with proven better results.

Backed by private equity investor RFE Investment Partners, ZRG is one of the fastest–growing firms in the search industry, offering a full suite of retained search, on–demand talent, and consulting and advisory solutions across the Americas, Asia, Europe, and Australia.

Contact: John Mooney, Over the Moon PR, (908) 720–6057, john@overthemoonpr.com


GLOBENEWSWIRE (Distribution ID 9224973)

Quantexa Recognized as a “Luminary” in Celent’s 2024 Insurance Fraud Detection Solutions Report

LONDON, Sept. 04, 2024 (GLOBE NEWSWIRE) — Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced that its Fraud Detection solution has been awarded “Luminary” status in Celent’s 2024 Insurance Fraud Detection Solutions: Property & Casualty Insurance Report. The report highlights Quantexa’s position as a leading provider of advanced fraud detection and investigation solutions. It showcases the impact the solution has on investigative and anti–fraud teams in the insurance industry make when protecting losses and enhancing customer experiences.

Insurance fraud is on the rise; organizations in the UK recorded that false claim applications increased by 20% in the insurance sector in 2023. In the U.S it is estimated that $308.6 billion annually is lost to insurance fraud. Quantexa’s Fraud and Security solution uses AI and ML in its dynamic entity resolution and knowledge graph capabilities to ingest, match, connect, and visualize billions of data records on–demand. These records come from both internal and external sources, providing an advanced, real–time holistic view of fraud risk. Clients can use a range of scoring and anomaly detection features to develop their own detection models self–sufficiently to match their risk appetite, capacity, and book of business.

Quantexa’s solution was recognized by Celent for its differentiation, as it incorporates innovative AI technologies, such as machine learning, deep learning and natural language processing, for predictive modelling and for data quality assessment and context generation. Quantexa’s solution is also highlighted for its ability to be deployed on all major public cloud platforms globally.

The report analyzes 10 fraud detection solution providers based on their technology and functionality. Quantexa’s “Luminary” status puts them in the leadership position in the report. Celent analysts write that “Quantexa stands out as a leading fraud detection platform from both a technology and functionality perspective. Its significant investments, marquee clients, and strong market positioning suggest it will remain a top player in insurance fraud detection.”

Alex Johnson, Global Insurance Industry Lead at Quantexa, said: “Being recognized by Celent as a Luminary in anti–fraud technology validates our ongoing investment into R&D, our future vision, and the value we deliver to our clients across the globe. Leveraging cutting edge entity resolution, knowledge graph, and AI technologies in our offering gives clients the ability to stay one step ahead of bad actors.”

Nathan Golia, Senior Analyst at Celent, added: “We have a thorough process of assessing the solutions that we consider for our Fraud Detection Solutions Report. To achieve Luminary status, Quantexa excelled in both the technical and functional dimensions that we measure. The world is increasingly vulnerable to fraudsters solutions like these are essential to protect insurers, and insurers’ customers.”

To learn more about Quantexa's “Luminary” fraud detection capabilities, and download the Celent report, visit https://www.quantexa.com/resources/insurance–fraud–report/.

About Quantexa

Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa's Decision Intelligence Platform found that customers saw a three–year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.

Media Enquiries
C: Stephanie Crisp, Fight or Flight
E: Quantexa@fightorflight.com

OR

C: Adam Jaffe, SVP of Corporate Marketing
T : +1 609 502 6889
E : adamjaffe@quantexa.com


GLOBENEWSWIRE (Distribution ID 1000989914)

Lack of Accountability for War Crimes in Libya Raises Instability

The Security Council meets at the United Nations Headquarters to discuss the escalating hostilities in Libya and the United Nations Support Mission in Libya. Credits: UN Photo/Manuel Elías

By Oritro Karim
UNITED NATIONS, Sep 4 2024 – The situation in Libya continues to grow more dire every year since the emergence of the al-Kaniyat militant group. From 2013 to 2022, al-Kaniyat had been responsible for a multitude of human rights violations, including mass killings, kidnappings, forced displacements, torture, and sexual violence. The lack of accountability for these injustices has spurred renewed conflict, which threatens to destabilize Libya years later.

In 2011, al-Kaniyat seized control of Tarhuna, a Libyan village that fosters approximately 150,000 people. Originally, al-Kaniyat had served as a local organized militia that sided with the Government of National Accord (GNA), an interim government that oversaw Libyan affairs after 2015. However, al-Kaniyat would eventually side with the Libyan National Army (LNA).

A report by the Libyan American Alliance (LAA) details the transgressions committed by the al-Kaniyat militia during the 2019-2020 Tripoli conflict.

“By October (of 2020), more than 20 mass graves had been exhumed in Tarhuna, accounting for over 200 bodies. Many disappearances and executions were not well-recorded by relatives of the victims though, due to the fear ingrained in the Tarhuna population by the militias, therefore, it is impossible to know the true quantity of victims”, stated Kamal Abubaker, Head of Libya’s General Authority for Searching and Identifying Missing Persons (GASIMP).

The Human Rights Watch (HRW) estimates that at least 338 people were abducted or reported missing during the militia’s five year siege. Additionally, LAA states that there is evidence of civilians being buried alive, electrocuted, and subjected to intense beatings.

Years later, GASIMP continued to find the remains of hundreds of victims, disposed of in mass graves. Numerous bombs and landmines were also recorded in the Tarhuna-Tripoli region.

Abubaker stated that there were at least 17 other mass graves in the area, containing women and children as well. It is estimated that there could be over 100 more that have yet to be discovered. In addition, over 350 families have reported missing relatives.

Civilians that defied al-Kaniyat authorities were imprisoned in one of four detention camps. Living conditions in these facilities were dire and prisoners were routinely subjected to physical and psychological torture.

The HRW detailed these conditions in a 2022 report. Detainees were contained in small, box-like cells that were approximately 1.2 meters high and 1.2 meters wide. Detainees were often suspended and whipped with plastic hoses on the soles of their feet, a practice known as falaka.

The perpetrators of these cases are still in the lengthy process of being identified and held accountable. This is primarily due to Libya’s compromised criminal justice system.

“Libya’s criminal justice system remained weak with serious due process concerns. Judges, prosecutors, and lawyers remained at risk of harassment and attack by armed groups. Military courts continued to try civilians”, states the HRW.

Additionally, during al-Kaniyat’s occupancy in Tarhuna, they controlled the local police and militia, causing significant obstructions of justice. Furthermore, the Kaniyat militia controlled key passages to Tripoli, effectively isolating Tarhuna from accessing crucial resources and aid personnel.

Mohamed Al-Kosher, the mayor of Tarhuna, stated, “Unfortunately, successive governments in Libya did not interfere in the crimes of this militia. If they wanted to, they could have taken out the Kaniyat. But every government turned a blind eye toward the crimes, and in return, the Kaniyat did what the government asked it to do”.

As a result, future perpetrators of human rights violations believe they are afforded impunity and the cycle continues.The lack of due process for the perpetrators of these violations has led to the emergence of an increasingly unstable social climate in Tarhuna.

An August 2024 report by The Office of the United Nations High Commissioner for Human Rights (OHCHR) states, “The lack of truth and justice, including accountability for the countless crimes committed, has in some instances led to renewed violence and repeated violations fomenting further grievances in Tarhuna and surrounding area”.

Stephanie Koury, the acting Head of the UN Support Mission in Libya, adds that “leaving the root causes and drivers of conflict unaddressed will only serve to keep fueling toxic cycles of violence and revenge between communities”. Therefore, it is crucial to expedite punitive processes for al-Kaniyat perpetrators to ensure the stability of Libya.

Currently, there are judicial processes in progress to identify and prosecute those involved in human rights violations in Tarhuna. According to OHCHR, in November 2022, numerous applications for arrest warrants were submitted.

Libyan Attorney-General, al-Siddiq al-Sur stated that judicial investigators had opened 280 criminal cases against al-Kaniyat members. However, only 10 of these cases had been referred to court, with no date given as to when these trials will take place.

OHCHR adds that the United Nations (UN) has urged Libyan authorities to allow for “effective reparations” for victims, including “legal aid and mental health support and guarantees of non-repetition, designed in consultation with those directly affected”.

IPS UN Bureau

 


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