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Hovnanian Enterprises Announces Strategic Partnership Between K. Hovnanian M.E. and Saudi Arabia's Ministry of Municipalities and Housing

MATAWAN, N.J., Aug. 29, 2024 (GLOBE NEWSWIRE) — Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder across the United States, announced the signing of a Memorandum of Understanding (MOU) between its subsidiary, K. Hovnanian M.E. Investments, LLC, and the Ministry of Municipalities and Housing of the Kingdom of Saudi Arabia. The MOU, signed under the patronage of His Excellency Majed bin Abdullah Al–Hogail, Minister of Municipalities and Housing and Chairman of the Saudi Real Estate Refinance Company (SRC), took place on August 21, 2024, during the Minister’s official visit to the United States.

The MOU, focused on fostering cooperation and strategic partnership in the real estate finance sector, was signed by Mr. Abdul Rahman bin Abdullah Al–Tawil, Deputy Minister for Residential Supply Stimulus & Real Estate Development, and Ara K. Hovnanian, Chairman of the Board, President, and Chief Executive Officer of Hovnanian Enterprises, Inc.

Hovnanian, with its extensive experience in delivering over 369,000 homes in the United States, will leverage this expertise through K. Hovnanian M.E. Investments, LLC to enhance the housing sector in Saudi Arabia.

This collaboration will bring global expertise, innovative homebuilding designs, and advanced construction technologies to Saudi Arabia, enhancing the development of integrated communities. The partnership will also focus on conducting joint workshops and preparing executive studies to expedite housing projects with greater efficiency and effectiveness, directly supporting Saudi Arabia's Vision 2030 and its objective to create vibrant neighborhoods and attract further investment in the housing sector.

“We are thrilled about the future of the Kingdom of Saudi Arabia and honored to contribute to Vision 2030 and its critical housing initiatives. This partnership enables us to bring our decades of experience in residential development to a dynamic and growing market, where we can help shape innovative communities that truly enhance the quality of life for their residents,” said Ara K. Hovnanian.

ABOUT HOVNANIAN ENTERPRISES, INC.:

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company’s homes are marketed and sold under the trade name K. Hovnanian® Homes. Additionally, the Company’s subsidiaries, as developers of K. Hovnanian’s® Four Seasons communities, make the Company one of the nation’s largest builders of active lifestyle communities.

Additional information on Hovnanian Enterprises, Inc. can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com. To be added to Hovnanian's investor e–mail list, please send an e–mail to IR@khov.com or sign up at http://www.khov.com.

FORWARD–LOOKING STATEMENTS

All statements in this press release that are not historical facts should be considered as “Forward–Looking Statements” within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward–looking statements. Such forward–looking statements include but are not limited to statements related to the Company’s goals and expectations with respect to its financial results for future financial periods and statements regarding demand for homes, mortgage rates, inflation, supply chain issues, customer incentives and underlying factors. Although we believe that our plans, intentions and expectations reflected in, or suggested by, such forward–looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. By their nature, forward–looking statements: (i) speak only as of the date they are made, (ii) are not guarantees of future performance or results and (iii) are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from those forward–looking statements as a result of a variety of factors. Such risks, uncertainties and other factors include, but are not limited to, (1) changes in general and local economic, industry and business conditions and impacts of a significant homebuilding downturn; (2) shortages in, and price fluctuations of, raw materials and labor, including due to geopolitical events, changes in trade policies, including the imposition of tariffs and duties on homebuilding materials and products and related trade disputes with and retaliatory measures taken by other countries; (3) fluctuations in interest rates and the availability of mortgage financing, including as a result of instability in the banking sector; (4) adverse weather and other environmental conditions and natural disasters; (5) the seasonality of the Company’s business; (6) the availability and cost of suitable land and improved lots and sufficient liquidity to invest in such land and lots; (7) reliance on, and the performance of, subcontractors; (8) regional and local economic factors, including dependency on certain sectors of the economy, and employment levels affecting home prices and sales activity in the markets where the Company builds homes; (9) increases in cancellations of agreements of sale; (10) increases in inflation; (11) changes in tax laws affecting the after–tax costs of owning a home; (12) legal claims brought against us and not resolved in our favor, such as product liability litigation, warranty claims and claims made by mortgage investors; (13) levels of competition; (14) utility shortages and outages or rate fluctuations; (15) information technology failures and data security breaches; (16) negative publicity; (17) high leverage and restrictions on the Company’s operations and activities imposed by the agreements governing the Company’s outstanding indebtedness; (18) availability and terms of financing to the Company; (19) the Company’s sources of liquidity; (20) changes in credit ratings; (21) government regulation, including regulations concerning development of land, the home building, sales and customer financing processes, tax laws and the environment; (22) operations through unconsolidated joint ventures with third parties; (23) significant influence of the Company’s controlling stockholders; (24) availability of net operating loss carryforwards; (25) loss of key management personnel or failure to attract qualified personnel; (26) public health issues such as major epidemic or pandemic; and (27) certain risks, uncertainties and other factors described in detail in the Company’s Annual Report on Form 10–K for the fiscal year ended October 31, 2023 and the Company’s Quarterly Reports on Form 10–Q for the quarterly periods during fiscal 2024 and subsequent filings with the Securities and Exchange Commission. Except as otherwise required by applicable securities laws, we undertake no obligation to publicly update or revise any forward–looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

 

     
Contact: Brad G. O’Connor Jeffrey T. O’Keefe
  Chief Financial Officer & Treasurer Vice President, Investor Relations
  732–747–7800 732–747–7800
   

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/2384d774–76f5–469c–a550–ca5978012c4f

https://www.globenewswire.com/NewsRoom/AttachmentNg/af226659–a9f4–4260–bd67–f25d3dec8f4e


GLOBENEWSWIRE (Distribution ID 9222176)

Acrow fornecerá 186 pontes modulares de aço à República de Angola

PARSIPPANY, Nova Jersey, June 28, 2024 (GLOBE NEWSWIRE) — A Acrow, uma grande empresa internacional de engenharia e fornecimento de pontes, tem a satisfação de anunciar um projeto, que fornecerá 186 pontes modulares de aço à República de Angola. As estruturas ajudarão no trabalho de modernização das infraestruturas rodoviárias e de transporte de Angola e serão instaladas em todo o país por engenheiros, técnicos e empreiteiros angolanos, que serão treinados pela Acrow para montar, instalar e fazer a manutenção das pontes.

Os acordos de financiamento do projeto foram formalizados durante a recente U.S.–Africa Business Summit (Reunião de Cúpula empresarial EUA–África), realizada de 6 a 9 de maio de 2024, em Dallas, no Texas. Sendo o principal evento anual do Corporate Council on Africa (Conselho Empresarial sobre a África), a Reunião de Cúpula foi um fórum para que mais de 1.500 executivos, representantes governamentais, investidores e empresários dos setores público e privado dos EUA e da África criassem parcerias comerciais sustentáveis.

A Acrow tem fornecido soluções de infraestrutura sustentável a mais de 150 países em todo o mundo, desde a sua fundação em 1951. Desde a década de 1990, a empresa já forneceu mais de duas mil pontes para mais de 40 países africanos. Essas infraestruturas duráveis e permanentes foram projetadas para resistir às condições mais adversas e são especialmente adequadas a redes de estradas rurais e secundárias. Fabricadas de acordo com os melhores padrões internacionais de qualidade, são facilmente personalizadas para atender os requisitos do local. Apresentam um bom custo–benefício, podem ser transportadas rapidamente até os mais remotos ou desafiadores locais, e montadas em dias ou semanas com mão de obra local e um mínimo de equipamentos pesados.

Por meio do modelo com financiamento completo do Programa de Desenvolvimento de Pontes, a Acrow pode utilizar uma rede global de instituições financeiras e outras fontes de capital para conseguir financiamento para projetos de pontes que atendem a certos critérios e facilitar o processo de obtenção de garantias de crédito de exportação e outros acordos de financiamento de desenvolvimento. No passado, a Acrow trabalhou em projetos de desenvolvimento de infraestruturas transformadoras de grande porte em vários países, dentre eles, projetos recentes em Gana, nos Camarões e na Zâmbia.

“Durante décadas, a missão da Acrow tem sido fornecer programas de desenvolvimento de infraestruturas transformadoras de pequeno e grande porte, mais voltados para a África. Nossa experiência em reunir os três elementos fundamentais desses programas – pontes, financiamento, treinamento – faz de nós um parceiro ideal para os mais complexos projetos”, afirmou Paul Sullivan, presidente de negócios internacionais da Acrow.

Bill Killeen, diretor–presidente da Acrow, acrescentou: “Na Acrow, entendemos a importância de infraestruturas de transporte sustentáveis de alta qualidade e o impacto geracional que podem ter nas comunidades servidas por elas. Estamos muito contentes em poder ajudar a República de Angola a fomentar a modernização das infraestruturas rodoviárias e de transporte em todo o país, e esperamos continuar a parceria à medida que o projeto se desenvolve.”

O projeto em Angola será financiado através do Standard Chartered Bank e apoiado por garantias de empréstimos emitidas pelo Export–Import Bank of the United States (Banco de Exportação e Importação dos Estados Unidos – EXIM), a agência oficial de crédito de exportação do país.

Em outubro de 2023, foi anunciado que os parceiros de projeto Acrow, o Standard Chartered Bank e o Ministério das Finanças da República de Angola foram os ganhadores do prêmio inaugural do EXIM, o Partnership for Global Infrastructure and Investment Deal of the Year. A Partnership for Global Infrastructure and Investment (Parceria de Infraestruturas e Investimentos Globais) é uma iniciativa da Administração Biden–Harris dedicada a desenvolver uma parceria de alto impacto, orientada por valores, com outras nações do G7 para atender as necessidades de infraestruturas de países de renda baixa e média.

www.acrow.com

Media contact:
Tracy Van Buskirk
Marketcom PR
001 (203) 246–6165
tvanbuskirk@marketcompr.com


GLOBENEWSWIRE (Distribution ID 9171045)

شركة Acrow تقوم بتوريد 186 جسرًا فولاذيًا تركيبيًا إلى جمهورية أنغولا

بارسيباني، نيو جيرسي, June 28, 2024 (GLOBE NEWSWIRE) — يسر شركة Acrow الدولية الرائدة في مجال هندسة الجسور وتوريدها، أن تعلن عن مشروع لتوريد 186 جسرًا فولاذيًا تركيبيًا إلى جمهورية أنغولا. سيكون لهذه الجسور دور مهم في إطار الجهود المبذولة لتحديث البنية التحتية للطرق والنقل في أنغولا. ومن المقرر تركيبها في جميع أنحاء البلاد من قِبل مهندسين وفنيين ومقاولين أنغوليين سيتلقون تدريبًا من شركة Acrow في تجميع الجسور وتركيبها وصيانتها.

تم الانتهاء من ترتيبات تمويل المشروع خلال قمة U.S.–Africa Business Summit (قمة الأعمال الأمريكية الإفريقية) التي عُقدت مؤخرًا في الفترة من 6 إلى 9 مايو لعام 2024 في دالاس، تكساس. جمعت القمة، وهي الحدث السنوي الأول لـ Corporate Council on Africa (مجلس الشركات المعني بإفريقيا)، أكثر من 1500 فرد من الولايات المتحدة وإفريقيا من المديرين التنفيذيين من القطاعين العام والخاص، وممثلي الحكومة، والمستثمرين، ورواد الأعمال، وذلك بهدف تعزيز الشراكات التجارية المستدامة.

منذ تأسيسها في عام 1951، قدمت شركة Acrow حلول البنية التحتية المستدامة لأكثر من 150 بلدًا حول العالم. ومنذ التسعينيات، قامت الشركة بتوريد أكثر من ألفَي جسر لأكثر من 40 بلدًا إفريقيًا. ومن الجدير بالذكر أن أصول البنية التحتية المتينة والدائمة هذه صُمِّمت لتتحمل أقسى الظروف، وهي مناسبة بشكلٍ خاص لشبكات الطرق الثانوية والريفية. تُصمم هذه الجسور وفقًا لأعلى معايير الجودة العالمية، وتتميز بأنها سهلة التخصيص لتلبية المتطلبات الخاصة بالموقع. وتتسم بأنها فعالة من حيث التكلفة، ويمكن نقلها بسهولة إلى المواقع النائية أو التي يصعب الوصول إليها، ويمكن أيضًا تجميعها في غضون أيام أو أسابيع باستخدام العمالة المحلية والحد الأدنى من الآلات الثقيلة.

تستطيع شركة Acrow من خلال نموذج التمويل الشامل “برنامج تطوير الجسور” الخاص بها، الاستفادة من شبكة عالمية من المؤسسات المالية ومصادر رأس المال الأخرى لتسهيل ترتيبات التمويل لمشاريع الجسور المؤهَّلة وتبسيط عملية الحصول على ضمانات ائتمانات التصدير وغيرها من ترتيبات التمويل الإنمائي. على مر السنين، ساهمت شركة Acrow في تنفيذ مشاريع تطوير بنية تحتية تحويلية واسعة النطاق في العديد من البلدان، بما في ذلك مشاريعها الأخيرة في غانا والكاميرون وزامبيا.

ومن جانبه صرح بول سوليفان، رئيس الأعمال الدولية في شركة Acrow، “لعقود من الزمن، كانت مهمة شركة Acrow تتمثل في توفير برامج تحويلية صغيرة وكبيرة النطاق لتطوير البنية التحتية، مع إيلاء اهتمام خاص بإفريقيا. إن خبرتنا في دمج العناصر الرئيسية الثلاثة لهذه البرامج – الجسور والتمويل والتدريب – تجعلنا شريكًا مثاليًا حتى لأكثر المشاريع تعقيدًا”.

وأضاف بيل كيلين، الرئيس التنفيذي للشركة “في Acrow، ندرك أهمية بنية النقل التحتية المستدامة والعالية الجودة وتأثيرها عبر الأجيال في المجتمعات التي تخدمها. وتسعدنا إمكانية خدمة جمهورية أنغولا ودعمها في جهودها لتحديث البنية التحتية للطرق والنقل في جميع أنحاء البلاد، ونتطلع إلى مواصلة شراكتنا مع تقدم سير هذا المشروع”.

سيتم تمويل المشروع في أنغولا من خلال بنك ستاندرد تشارترد وبدعم من ضمانات القروض الصادرة من بنك التصدير والاستيراد الأمريكي (EXIM)، وكالة ائتمان التصدير الرسمية في البلاد.

في أكتوبر 2023، تم الإعلان عن فوز شركاء المشروع: شركة Acrow وبنك ستاندرد تشارترد ووزارة المالية في جمهورية أنغولا، بالجائزة الافتتاحية لبنك التصدير والاستيراد الأمريكي، “جائزة العام للشراكة من أجل البنية التحتية والاستثمار العالمي”. تُعد هذه الشراكة من أجل البنية التحتية والاستثمار العالمي مبادرة من إدارة بايدن وهاريس تهدف إلى إقامة شراكة عالية التأثير قائمة على القيم مع دول مجموعة السبع الأخرى لتلبية احتياجات البنية التحتية للبلدان المنخفضة والمتوسطة الدخل.

نبذة عن Acrow
ظلت شركة Acrow تقدم خدماتها لقطاعي النقل والتشييد والبناء لأكثر من 70 عامًا بمجموعة كبيرة من حلول الجسور الفولاذية التركيبية للتطبيقات الدائمة والمؤقتة والعسكرية وللاستخدام في حالات الطوارئ. ويشمل الحضور الكثيف لشركة Acrow على الساحة الدولية الريادة في تطوير مشروعات جسور البنية التحتية وتنفيذها في أكثر من 150 بلدًا في أرجاء إفريقيا وآسيا والأمريكتين وأوروبا والشرق الأوسط. لمزيد من المعلومات، تفضلوا بزيارة الموقع الإلكتروني: www.acrow.com.

Media contact:
Tracy Van Buskirk
Marketcom PR
001 (203) 246–6165
tvanbuskirk@marketcompr.com


GLOBENEWSWIRE (Distribution ID 9171045)

Acrow to Supply 186 Modular Steel Bridges to the Republic of Angola

PARSIPPANY, N.J., June 28, 2024 (GLOBE NEWSWIRE) — Acrow, a leading international bridge engineering and supply company, is pleased to announce a project to supply 186 modular steel bridges to the Republic of Angola. The structures will contribute to efforts to modernize Angola’s road and transportation infrastructure and will be installed throughout the country by Angolan engineers, technicians and contractors who will be trained by Acrow in the assembly, installation and maintenance of the bridges.

The financing arrangements for the project were formalized during the recent U.S.–Africa Business Summit held May 6–9, 2024, in Dallas, Texas. The premier annual event of the Corporate Council on Africa, the Summit provided a forum for more than 1,500 U.S. and African public and private sector executives, government representatives, investors, and entrepreneurs to advance sustainable business partnerships.

Acrow has provided sustainable infrastructure solutions to more than 150 countries worldwide since its founding in 1951. Since the 1990s, the firm has supplied more than two thousand bridges to more than 40 African nations. These durable and permanent infrastructure assets are designed to withstand the most rugged conditions and are particularly well–suited for secondary and rural road networks. Manufactured to the finest international quality standards, they are easily customized to meet site requirements. They are cost–effective, quickly transported to the most remote or challenging sites, and can be assembled in days or weeks using local labor and minimal heavy equipment.

Through its comprehensive financed Bridge Development Program model, Acrow can leverage a global network of financial institutions and other sources of capital to arrange financing for qualified bridge projects and facilitate the process of securing export credit guarantees and other development finance arrangements. In the past, Acrow has worked on transformative, large–scale infrastructure development projects in numerous nations including recent projects in Ghana, Cameroon and Zambia.

“For decades, a mission of Acrow’s has been to provide transformative small and large–scale infrastructure development programs with a focus on Africa. Our experience in bringing the three key elements of these programs together – bridges, finance, training – makes us an ideal partner for the most complex projects,” said Paul Sullivan, President – International Business at Acrow.

Bill Killeen, Acrow CEO, added, “At Acrow, we understand the importance of high–quality, sustainable transportation infrastructure and the generational impact it can have on the communities it serves. We are delighted to be able to be of service to the Republic of Angola in support of the modernization of the road and transportation infrastructure across the country, and we look forward to a continuing partnership as the project develops.”

The project in Angola will be financed through Standard Chartered Bank and supported by loan guarantees issued by the Export–Import Bank of the United States (EXIM), the nation’s official export credit agency.

In October 2023, project partners Acrow, Standard Chartered Bank and the Ministry of Finance of the Republic Angola were announced as winners of EXIM’s inaugural “Partnership for Global Infrastructure and Investment Deal of the Year Award.” The Partnership for Global Infrastructure and Investment is a Biden–Harris Administration initiative dedicated to developing a values–driven, high–impact partnership with other G7 nations to meet the infrastructure needs of low– and middle–income countries.

About Acrow
Acrow has been serving the transportation and construction industries for more than 70 years with a wide range of modular steel bridging solutions for permanent, temporary, military and emergency use. Acrow’s extensive international presence includes leadership in the development and implementation of bridge infrastructure projects in over 150 countries across Africa, Asia, the Americas, Europe and the Middle East. For more information, please visit www.acrow.com.

Media contact:
Tracy Van Buskirk
Marketcom PR
Main: (212) 537–5177, ext. 8; Mobile: (203) 246–6165
tvanbuskirk@marketcompr.com


GLOBENEWSWIRE (Distribution ID 9171045)

Acrow chargée de fournir 186 ponts modulaires en acier à la République d'Angola

PARSIPPANY, New Jersey, 28 juin 2024 (GLOBE NEWSWIRE) — Acrow, l'une des principales sociétés internationales d'ingénierie et de fourniture de ponts, a le plaisir d'annoncer un projet visant à fournir 186 ponts modulaires en acier à la République d'Angola. Les structures contribueront aux efforts de modernisation des infrastructures routières et de transport de l'Angola. Elles seront installées dans tout le pays par des ingénieurs, des techniciens et des entrepreneurs angolais qui seront formés par Acrow à l'assemblage, l'installation et la maintenance des ponts.

Les accords de financement du projet ont été formalisés au cours du récent U.S.–Africa Business Summit qui s'est tenu du 6 au 9 mai 2024 à Dallas, au Texas. Premier événement annuel du Corporate Council on Africa (CCA), le sommet a constitué un espace de discussion pour plus de 1.500 cadres des secteurs public et privé, représentants du gouvernement, investisseurs et entrepreneurs américains et africains, en vue de promouvoir des partenariats commerciaux durables.

Depuis sa création en 1951, Acrow a fourni des solutions d'infrastructure durable à plus de 150 pays dans le monde. Depuis les années 1990, l'entreprise a livré plus de deux mille ponts à plus de 40 États africains. Ces équipements d'infrastructure durables et permanents sont conçus pour résister aux conditions les plus difficiles et sont particulièrement adaptés aux réseaux routiers secondaires et ruraux. Fabriqués selon les normes de qualité internationales les plus strictes, ils sont facilement adaptables aux exigences du site. Ils sont rentables, rapidement transportés vers les sites les plus éloignés ou les plus difficiles, et peuvent être assemblés en quelques jours ou semaines en utilisant la main–d'œuvre locale et un minimum d'équipement lourd.

Grâce à son modèle de programme de développement de ponts à financement complet, Acrow peut tirer parti d'un réseau mondial d'institutions financières et d'autres sources de capital pour organiser le financement de projets de ponts qualifiés et faciliter le processus d'obtention de garanties de crédit à l'exportation et d'autres accords de financement du développement. Par le passé, Acrow a travaillé sur des projets transformateurs de développement d'infrastructures à grande échelle dans de nombreux pays, y compris des projets récents au Ghana, au Cameroun et en Zambie.

« Depuis des décennies, l'une des missions d'Acrow consiste à fournir des programmes transformateurs de développement d'infrastructures à petite et grande échelle, en mettant l'accent sur l'Afrique. Notre expérience dans le regroupement des trois éléments clés de ces programmes – ponts, financement, formation – fait de nous un partenaire idéal pour les projets les plus complexes », a déclaré Paul Sullivan, président de l'activité internationale d'Acrow.

Bill Killeen, PDG d'Acrow, a ajouté : « Chez Acrow, nous comprenons l'importance des infrastructures de transport de haute qualité et durables et l'impact générationnel qu'elles peuvent avoir sur les communautés qu'elles desservent. Nous sommes ravis de pouvoir servir la République d'Angola en soutenant la modernisation des infrastructures routières et de transport à travers le pays, et nous nous réjouissons de ou suivre ce partenariat à mesure que le projet se développe. »

Le projet en Angola sera financé par la Standard Chartered Bank et soutenu par des garanties de prêt émises par l'Export–Import Bank of the United States (EXIM), l'agence officielle de crédit à l'exportation du pays.

En octobre 2023, les partenaires du projet, Acrow, Standard Chartered Bank et le ministère des Finances de la République d'Angola, ont été désignés lauréats du premier prix du « Partnership for Global Infrastructure and Investment Deal of the Year Award » décerné par l'EXIM. The ‘Partnership for Global Infrastructure and Investment’ (le partenariat pour l'infrastructure et les investissements mondiaux) est une initiative de l'administration Biden–Harris visant à mettre en place un partenariat à fort impact, fondé sur des valeurs, avec d'autres pays du G7, afin de répondre aux besoins en infrastructures des pays à revenu faible et intermédiaire.

À propos d’Acrow

Acrow est au service des industries du transport et de la construction depuis plus de 70 ans. Avec une large gamme de solutions de ponts modulaires en acier pour des utilisations permanentes, temporaires, militaires et d'urgence, notre présence internationale étendue comprend le leadership dans le développement et la mise en œuvre de projets d'infrastructure de ponts dans plus de 150 pays à travers l'Afrique, l'Asie, les Amériques, l'Europe et le Moyen–Orient. Pour plus d’information, veuillez consulter www.acrow.com

Media contact:
Tracy Van Buskirk
Marketcom PR
001 (203) 246–6165
tvanbuskirk@marketcompr.com


GLOBENEWSWIRE (Distribution ID 9171045)

Acrow Named Exporter of the Year at New Jersey International Trade Awards

PARSIPPANY, N.J., June 06, 2023 (GLOBE NEWSWIRE) — Acrow, a leading international bridge engineering and supply company, is pleased to announce it was named Exporter of the Year at the New Jersey International Trade Awards (NJITA) ceremony on May 17 at the Galloping Hill Golf Course in Kenilworth, NJ. The awards honor excellence by New Jersey companies that have worked diligently to expand their exporting efforts, thus contributing to job creation and enhancing the state's economic landscape.

The NJITA is a program of the New Jersey District Export Council (NJDEC). Regional District Export Councils (DECs) are organizations of leaders from the local business community, appointed by a U.S. Secretary of Commerce, whose knowledge of international business provides a source of professional advice for local firms. Closely affiliated with the Commerce Department's Export Assistance Centers, the 61 DECs throughout the country support the U.S. Government's export promotion efforts.

"We are delighted to be recognized by NJDEC for our continuing work in international markets," said Mark Joosten, President and COO of the Acrow Group. "Acrow has been serving the transportation and construction industries since 1951, and our bridge solutions are now found in more than 150 countries across the globe. Our success in exporting not only supports jobs here in the United States, but also helps the communities we serve globally to access opportunity and expand prosperity through high–quality, sustainable bridge infrastructure."

Added William Killeen, CEO of the Acrow Group, "Whether navigating urban highways, rural roads, or emergency conditions, people depend on safe, reliable passage in pursuit of education, healthcare and economic prosperity wherever in the world they live. Our mission to build bridges, connect people and leave positive legacies in local communities will continue to evolve in response to the needs of government agencies and contractors worldwide, and this award commemorates our achievement to date in pursuit of that aim."

About Acrow
Acrow has been serving the transportation and construction industries for more than 70 years with a wide range of modular steel bridging solutions for permanent, temporary, military and emergency use. Acrow's extensive international presence includes leadership in the development and implementation of bridge infrastructure projects in over 150 countries across Africa, Asia, the Americas, Europe and the Middle East. For more information, please visit www.acrow.com.

Media contact:
Tracy Van Buskirk
Marketcom PR
Main: (212) 537–5177, ext. 8; Mobile: (203) 246–6165
tvanbuskirk@marketcompr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2084f134–eaaa–4784–a46a–403be3282b8a


GLOBENEWSWIRE (Distribution ID 8853202)

Mabey Bridge designs and supplies long-span Delta bridge to support sustainable development and economic growth in Pakistan’s Khyber Pakhtunkhwa province

LYDNEY, United Kingdom, April 07, 2022 (GLOBE NEWSWIRE) — Mabey Bridge, the international modular bridging specialist and an Acrow Group company, noted today one of its Delta bridges has been installed in the village of Singur, District Chitral, in the province of Khyber Pakhtunkhwa in Pakistan. Constructing this new permanent bridge in District Chitral was one of the projects included in several recent government economic development initiatives, including the Chitral Economic Zone, which is expected to facilitate a large increase in employment opportunities in the area.

Located over the Chitral River in the northwestern part of the country, the new Singur Bridge is on a major route and considered critical to promoting socio–economic development in the region. Positioned more than 1500 metres above sea level, the remote site is difficult to access, so an easily–transported and rapidly–installed modular bridge offered an optimal solution for this permanent application. A Delta bridge from Mabey Bridge was supplied and installed by the 45 Engineers Division of the Pakistan Army working in partnership with military engineering and construction firm Frontier Works Organization (FWO).

The 2–span Delta bridge is 100 metres long with a roadway width of 7.35 metres between kerbs, and features a polyurethane–based anti–skid deck surface. Designed to carry HL–93 loading, it was installed using a full cantilever launch in 21 days. This project is the latest of a number of Mabey Bridge projects completed in Pakistan and installed by the FWO, who are highly experienced in the installation of modular bridges. On this project, the Pakistan Army Engineers moved individuals from various units, all with previous Delta experience, to assist with the installation in order to ensure a rapid and smooth installation of the bridge.

Michael Treacy, CEO Mabey Bridge, said,

"We are honoured to have been selected once again to partner on such an important project in Pakistan. Our reliable, cost–effective steel bridging solutions are well–suited to remote locations, and have been installed all over Pakistan to restore vital rural connectivity. We are delighted to have worked with both the 45 Engineers Division and FWO on this important project, building on a decades–long partnership in the development of critical rural infrastructure in Pakistan."

About Mabey Bridge

Mabey Bridge is a leading international provider of high–quality modular bridging solutions. We specialise in rapid–build, pre–engineered modular steel bridges to enable accelerated bridge construction and improve connectivity in urban and rural areas. We also deliver bridging solutions for the construction, oil and gas, and mining sectors, as well as for specialist military applications, humanitarian emergencies and disaster relief.

Mabey Bridge, an Acrow Group company, is based in Gloucestershire, UK and has supplied modular bridging solutions to over 150 countries worldwide. For more information on how we can help with your project, please visit our website www.mabeybridge.com.

Media contact:
Tracy Van Buskirk
Marketcom PR
001 (203) 246–6165
tvanbuskirk@marketcompr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bce2aec7–7673–42b4–b97b–6a5afc8e0184


GLOBENEWSWIRE (Distribution ID 8517979)

Vita Inclinata Expands Into the Middle East Market

BROOMFIELD, Colo., WASHINGTON, and DUBAI, United Arab Emirates, March 31, 2022 (GLOBE NEWSWIRE) — Vita Inclinata (Vita), developer and producer of helicopter and crane load stabilization and precision hardware, today announced ALEC Engineering and Contracting (ALEC) piloted the company's Vita Lifting System in Q4, 2021. ALEC selected Vita Inclinata's Lifting System for field trial after a comprehensive evaluation. The Vita system was initially inspected in the UAE by Astron Certification, in accordance with International and UAE lifting standards.

As a leading construction company in the GCC, ALEC owns and operates its own equipment including 33 cranes, 122 pieces of heavy plant equipment, and 8 hoists. The company has successfully delivered over 100 complex projects across diverse sectors including airports, retail spaces, hotels & resorts, high–rise buildings, and themed projects. The company's focus on pioneering digital technologies enables ground–breaking innovation, increased efficiency, and collaboration with building""technology partners such as Vita. The Vita partnership enables ALEC to gather data on lift speed, ease of placement, time savings, and safety/reduced risk capabilities.

"Dubai's construction projects are constantly challenged with extreme heat and wind conditions that often create significant safety hazards and extended timelines," said Caleb Carr, Vita Inclinata CEO. "We are honored ALEC selected our lift system for evaluation and excited to see that our technology performed so well in these high–profile evaluations."

After a brief training and certification program, ALEC took control of the Vita Load Pilot (VLP) and conducted a multi–week field trial on two separate sites in the UAE. Although the smallest of Vita's industrial systems, the VLP was pushed to its functional limits and performed flawlessly""providing remote, precision load control without taglines at heights over 200m, traversing or "walking" around corners, and in high–wind conditions.

"As a multi–disciplinary company, ALEC has built a reputation for solving problems by using innovation to help execute complex projects on time, on budget, and safely," said Imad Itani, Innovation Manager for ALEC. "We were impressed by the Vita Lifting System's rugged, easy–to–use, semi–automated load control technology that will improve operations by improving efficiency, reducing downtime caused by high winds, minimizing risk to load and life on the worksite, as well as driving bottom–line savings."

About ALEC

ALEC Engineering and Contracting LLC (ALEC), part of the Investment Corporation of Dubai (ICD), is a large construction company with related businesses operating in the GCC with a presence in Africa. ALEC has consistently evolved and grown over the last 20 years to become a trusted partner for the execution of complex and iconic construction projects. The company builds and provides construction solutions to exceed our clients' expectations for quality, safety, functionality, and aesthetics. We have received numerous awards for excellence, quality, safety, reliability, and sustainability and are recognized as a leading contractor in the region. For more information, visit www.alec.ae

About Vita Inclinata

A friend's death during a rescue operation""with a helicopter close but unable to stabilize due to weather and terrain""was the genesis of Vita Inclinata. Founded in 2015 as a way to solve a real problem, Vita today controls chaotic swinging and spin and adds safety and precision for rotor–wing and fixed–wing aircraft and cranes. With the mission of "Bring them home, every time," Vita's technology changes the narrative while saving lives, time, and money across industries, including search and rescue, military, firefighting, public safety, construction, wind energy, and oil and gas. The company is headquartered in Broomfield, Colorado, with offices in Washington, DC, and Huntsville, Alabama. For more information, please visit www.vitatech.co.

For more information, contact:
Betsey Rogers
BridgeView Marketing
603–821–0809
betsey@bridgeviewmarketing.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94d125ca–41e8–4266–ab2a–7586af06767f


GLOBENEWSWIRE (Distribution ID 8511457)

Veev Adds C-Suite Talent, Hiring Former Intel Corp Exec as COO

SAN MATEO, Calif., Nov. 03, 2021 (GLOBE NEWSWIRE) — Today, Veev announced the latest addition to its c–suite "" seasoned technology executive Ari Rauch joins the team as Chief Operating Officer.

Veev has vertically integrated the entire homebuilding process "" from development through to design, materials, and manufacturing "" to deliver a higher quality living experience for everyone. Having raised nearly $200M to date in total funding, the company continues to set a new standard for the industry, building better homes faster, more sustainably, and at lower cost.

"To deliver on our mission to create exceptional living experiences for all, it's critical we recruit talent that is not only capable, but also buys into our vision and culture of innovation powered by the fusion of people and technology," said Amit Haller, Veev Cofounder and CEO. "Ari's addition to our team does just that. With his multidisciplinary background and expertise in emerging technologies, we're certain his leadership will complement our momentum at this exciting time in Veev's expansion."

Amid a compounding housing crisis, Veev has found no shortage of demand for its innovative model, which touts construction speeds up to 4x the industry standard and a lower cost than competing methods.

"Veev has developed a process that has effectively unraveled the traditional restraints of real estate development," said Ari Rauch. "By integrating the entire homebuilding process, which has long been held back by a plethora of individual contract work, their approach guarantees quality, consistency, efficiency, and an exceptional living experience. I'm thrilled to join the team, and look forward to scaling Veev's solution to meet the demand of our time."

Rauch brings an extensive background in operations management, having overseen product, R&D, and marketing departments. His strong track record for leading, building, transforming, and scaling teams will elevate Veev's operations to the next level, positioning the company for its continued expansion. Joining Veev as COO, Rauch will lead Veev operations through the entire life cycle of products and services, driving the expansion, automation, and digitalization of the new era of home construction.

Prior to joining Veev, Rauch served as Vice President and General Manager of the Graphics Technology division at Intel Corporation where he oversaw product, R&D, and marketing departments""""transforming capabilities and products to industry state–of–the–art standards. Prior to Intel Corporation, he was Corporate Vice President at AMD Corporation, leading its expansive global engineering teams and software transformation programs.

About Veev
Veev is a building technology company founded on the belief that homes are the ultimate consumer product, and they need to be built better, and faster. Working across real estate, design, development, engineering, manufacturing, and construction, Veev has developed a vertically integrated approach to productize the home and improve on cost and quality, up to 4x the rate of traditional construction. Veev is focused on building multi–family homes, single family homes, and accessory dwelling units (ADUs) at scale, to help develop and support communities, and improve our quality of living.

Contact
LaunchSquad for Veev
veev@launchsquad.com
209–678–8806

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c64bd36a–94be–49a7–9e87–8ee2cc2de63e


GLOBENEWSWIRE (Distribution ID 8385542)