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Hitex to host three expos HIMTEX, IPEC, and ECO Sustain Expo simultaneously from August 16th to 19th

Aug 12, 2024 by Mansi Praharaj 0 Comments #3D printing, #air pollution, #Akash Blowers Pvt Ltd, #and water treatment, #ASTRAL LIMITED, #automation sectors, #AXIS Solar Systems, #Bharat Fritz Werner, #bio-waste recycling technologies, #Business Head of HITEX., #C.R.I Pumps Private Limited, #Carl Zeiss India (Bangalore) Pvt. Ltd, #Chemical and Process Engineering in the Manufacturing Sector, #China, #cutting-edge air pollution control strategies, #cutting-edge innovations in solid waste management, #Eco Sustain Expo, #eco-friendly technologies, #effluent and water treatment, #Effluent treatment, #Effluent treatment technologies, #encompassing sectors such as chemical, #Energy Efficiency in Pharma Manufacturing and Guidelines for Selecting Proper Graphite Equipment, #food and beverage, #Gattuwala Energy Solutions Pvt Ltd, #Germany, #Global CNC Private Limited, #Graphite India Limited, #HIMTEX, #Hyderabad International Machine Tool and Engineering Expo (HIMTEX), #India Process Expo and Conference (IPEC), #Innovations and Strategies in Waste Management - Solid waste, #innovative recycling solutions, #IPEC, #Israel, #Italy), #Jay Khodiyar Machine Tools, #KEP ENGINEERING Services Pvt Ltd, #Kitagawa India Private Limited, #KTM Technology & Innovations (India) Pvt. Ltd, #Lubi Industries LLP, #Mangalam Worldwide Ltd, #Mitutoyo South Asia Pvt Ltd etc., #oil and gas, #pharmaceutical, #Pneucon Automation Pvt. Ltd and Mech Engineering, #Process Engineering, #process industry, #Protech Engineers, #Proveg Engineering & Food Processing Pvt Ltd, #Recycling techniques, #Robotics, #Satyajit Renewable Engineering Pvt. Ltd, #Scope and Importance of Robotics and Automation in the Process Industry, #solid Waste Technologies, #South Korea, #Southern Ecologics & Services Pvt. Ltd, #Spain, #Spantech Engineers Pvt Ltd, #Speciality Products and Services (India) LLP, #Srikanth TG, #Suresh Indu Lasers Pvt Ltd, #sustainable manufacturing practices, #Switzerland, #Taiwan, #Technical Conference, #Turkey, #USA, #Viral Enterprise, #Zen Adsorptions Pvt. Ltd

Hyderabad, August 12th, 2024…. Hyderabad International Trade Expositions Ltd (HITEX) will be organizing three expos HIMTEX, IPEC, and ECO Sustain Expo simultaneously from August 16 to 19 at Hitex, Madhapur in the city.

Epic Industry Process tools expo 1

The three expos are the 8th edition of the Hyderabad International Machine Tool & Engineering Expo (HIMTEX). It will be run concurrently with the India Process Expo & Conference (IPEC) and the Eco Sustain Expo from August 16th to 18th, 2024. These events provide a platform for showcasing the latest innovations and developments in the manufacturing sector, offering opportunities for networking, collaboration, and growth.

The three significant expos—HIMTEX, IPEC, and Eco Sustain Expo—cater to the diverse needs of a manufacturer. HIMTEX focuses on machine tools, considered the backbone of manufacturing; IPEC emphasizes innovation and process trends; while Eco Sustain Expo centres on sustainable practices added Srikanth TG, Business Head of HITEX.

HIMTEX 2024 is fuelling supply chain efficiency and industrial growth across the youngest Indian state Telangana, Srikanth T G said.

The Hyderabad International Machine Tool and Engineering Expo (HIMTEX) is a prominent event that showcases the latest advancements in machine tools, engineering equipment, and manufacturing technology. Spread over 10,500 square meters, it will feature 225 exhibitors from across 14 states in India.

Strong participation from the robotics, 3D printing, and automation sectors it will have exhibitors such as Suresh Indu Lasers Pvt Ltd, KTM Technology & Innovations (India) Pvt. Ltd, Bharat Fritz Werner, Carl Zeiss India (Bangalore) Pvt. Ltd, Kitagawa India Private Limited, Global CNC Private Limited, Mitutoyo South Asia Pvt Ltd etc.

Machine tool manufacturers from Rajkot, Gujarat supported by (MTMA – Machine Tool Manufacturers Association – Rajkot) and Ludhiana, Punjab (LMTMA – Ludhiana Machine Tool Manufacturers Association) and other associations, it is expecting a lot of group participation.

International companies from countries including the USA, Germany, Italy, South Korea, China, Israel, Switzerland, Taiwan, Turkey, and Spain will participate through their Indian dealers and distributors, Srikanth added

Eco Sustain Expo dedicated to promoting sustainable manufacturing practices and eco-friendly technologies will have participants from 8 states. Some leading companies such as Satyajit Renewable Engineering Pvt. Ltd, Gattuwala Energy Solutions Pvt Ltd, Proveg Engineering & Food Processing Pvt Ltd, ASTRAL LIMITED, Jay Khodiyar Machine Tools, Spantech Engineers Pvt Ltd, AXIS Solar Systems, Akash Blowers Pvt Ltd, KEP ENGINEERING Services Pvt Ltd and Southern Ecologics & Services Pvt. Ltd will participate

The exhibition will have a wide array of products, equipment displayed such as solid Waste Technologies, Effluent treatment technologies, cutting-edge air pollution control strategies, and innovative recycling solutions. Along with the display of the equipment, a Technical Conference will be held on Innovations and Strategies in Waste Management – Solid waste, Effluent treatment, Air pollution and Recycling techniques. There will be curated buyer and seller meetings. It will also have an exclusive area to showcase cutting-edge innovations in solid waste management, effluent and water treatment, and bio-waste recycling technologies.

The third expo is the India Process Expo and Conference (IPEC) will be about the process industry, encompassing sectors such as chemical, pharmaceutical, food and beverage, oil and gas, and water treatment. Companies such as Zen Adsorptions Pvt. Ltd, Speciality Products and Services (India) LLP, Protech Engineers, C.R.I Pumps Private Limited, Lubi Industries LLP, Graphite India Limited, Viral Enterprise, Mangalam Worldwide Ltd, Pneucon Automation Pvt. Ltd and Mech Engineering will be participating from ten states from across India.

A Technical Conference will be along with the expo on advancements and innovations in Process Engineering and some key topics are Chemical and Process Engineering in the Manufacturing Sector, Scope and Importance of Robotics and Automation in the Process Industry, Energy Efficiency in Pharma Manufacturing and Guidelines for Selecting Proper Graphite Equipment. A buyers and sellers meeting is also lined up along with the expo.

Business

Hyundai Motor Group Powers Up Robotic Services at Smart Office Building in Seoul

Jun 21, 2024 by Sujata Muguda 0 Comments #Dong Jin Hyun, #Hyundai Motor Company, #Hyundai Motor Group, #IGIS Asset Management's Factorial Seongsu, #Kia's 'DAL-e Delivery' robot, #Robotic Services at Smart Office Building in Seoul, #Seoul, #South Korea

SEOUL, South Korea, June 21, 2024 — Hyundai Motor Group (the Group) announced the deployment of Hyundai Motor and Kia’s ‘DAL-e Delivery’ robot and Hyundai WIA’s ‘Parking Robot’ at Factorial Seongsu, providing innovative services at the robot-friendly office building in Seoul. The Group also released a video of its deployed robots, which can be seen here.

Image-1--DAL-e-Delivery-Robot

At IGIS Asset Management’s Factorial Seongsu, occupants can enjoy beverage delivery from the DAL-e Delivery robot and parking services from the Parking Robot, both utilizing the Group’s latest technologies.

“With DAL-e’s full-fledged delivery service, we aim to make Factorial Seongsu the first building to apply our Robot Total Solution,” said Dong Jin Hyun, Vice President and Head of Robotics LAB at Hyundai Motor Company and Kia Corporation. “We plan to expand our robotics services to more buildings, making these technological enhancements a major criterion for space innovation.”

The Group has proposed a ‘Robot Total Solution’ development plan, which involves using various robots and facial recognition systems in smart buildings, starting with Factorial Seongsu. It also intends to develop a ‘multi-integrated control system’ for managing multiple delivery robots within the Robot Total Solution. A video of the facial recognition system can be seen here.

Business

Lg Establishes Global R&d Triangle to Develop High-performance Heat Pumps in Extreme Cold

Jun 20, 2024 by Sujata Muguda 0 Comments #European Consortium for Advanced Heat Pump Research, #Global R&D triangle, #Heat Pumps, #HVAC, #James Lee, #LG Electronics Home Appliance & Air Solution Company, #LG Electronics' (LG), #Lg Establishes Global R&d Triangle, #Seoul, #South Korea

SEOUL, South Korea, June 20, 2024 — LG Electronics’ (LG) is establishing a global R&D triangle connecting North America, Europe and Asia to lead the global heat pump market and secure next-generation heat pumps specifically designed for cold climate zones. The company aims to develop regionally specialized core technologies optimized for the cold climate of Northern Europe through the establishment of the European Consortium for Advanced Heat Pump Research (ECAHR).

The collaboration with leading European universities follows the foundation of the LG Advanced Cold Climate Heat Pump Laboratory in Alaska last year, and the company plans to expand efforts to enhance the performance of its Heating, Ventilation and Air Conditioning (HVAC) products in low-temperature climate conditions. This August, LG will also continue its research on cold climate heat pumps in Harbin in partnership with a prestigious Chinese university.

LG held a signing ceremony on June 18 at the main auditorium of Oslo Metropolitan University in Norway to mark the commencement of the consortium. Members include Oslo Metropolitan University, the Norwegian University of Science and Technology (Norges Teknisk-Naturvitenskapelige Universitet) and the University of Naples Federico II, an institute in Italy actively pursuing research in cold-climate HVAC.

During the winter of this year, Northern Europe experienced record-breaking cold weather, with temperatures dropping below minus 40 degrees Celsius. In these regions, achieving high heating efficiency is challenging due to the difficulty of compressing refrigerants at lower pressures. To address this, LG established a consortium to develop heat pumps that deliver top-tier heating performance even in extreme cold conditions.

Furthermore, the company is looking to enhance its core technologies to lead global electrification efforts and expand supplemental heating availability in Europe.

In 2022, the EU launched the REPowerEU plan, aiming to reduce dependence on Russian fossil fuels and expand new and renewable energy sources by 2030. As a result, the demand for high-efficiency electric appliances and heat pump heating and cooling systems has surged across Europe, fueling efforts to lower energy consumption and achieve carbon neutrality.

What’s more, LG is in the process of establishing a comprehensive local operation system for its HVAC business, which is expected to drive growth in its business-to-business (B2B) operations. The system covers all stages locally, from research and development to sales, maintenance and operations.

In the announcement of LG’s Future Vision 2030 last year, CEO William Cho highlighted B2B capability enhancement as one of three major growth factors. Aligning with this vision, the HVAC business has set an ambitious goal to more than double its sales by 2030 and become a top-tier global heating and cooling company.

“We aim to expand our presence around the world by developing next-generation heat pump technology tailored to the diverse climate conditions of each region,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “We will continue to expand our footprint in the global market, adding value to drive growth in our HVAC business.”

Business

Hyundai Motor President and CEO Jaehoon Chang Announced as New Co-Chair of Hydrogen Council

Jun 18, 2024 by Sujata Muguda 0 Comments #BRUSSELS and SEOUL, #CEO of Hyundai Motor Company, #HTWO, #Hydrogen Council, #Hyundai Motor Company, #Hyundai Motor President and CEO Jaehoon Chang, #Jaehoon Chang, #South Korea, #Yoshinori Kanehana

BRUSSELS and SEOUL, South Korea, June 18, 2024 — The Hydrogen Council has announced Hyundai Motor Company President and CEO Jaehoon Chang as its new Co-Chair, joining Sanjiv Lamba, CEO of Linde.

Together, the two Co-Chairs will work closely with Hydrogen Council member CEOs as the organization enters its next chapter, focused on unlocking the potential demand for a global hydrogen economy and creating a framework for international trade and accelerated investment.

President and CEO Chang takes over from Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries, Ltd., who served as Co-Chair for the past two and a half years. His appointment follows Hyundai Motor Group Executive Chair Euisun Chung, who led the Council from January 2019 to July 2020.

Hyundai and its Commitment to Hydrogen

Hyundai Motor has been dedicated to the development of hydrogen technologies since establishing a Fuel Cell research and development division in 1998.

Through continuous investment and research, Hyundai Motor has strengthened its leadership in the hydrogen sector, including:

The independent development of a fuel cell stack in 2004
The world’s first mass production of a Fuel Cell Electric Vehicle (FCEV), the Tucson ix35 FCEV, in 2013
Mass production of the NEXO, the first dedicated FCEV, in 2018; and the world’s first mass production of XCIENT Fuel Cell, heavy duty hydrogen-powered truck, in 2020.
At CES 2024, Hyundai Motor revealed its plans to expand HTWO, the brand for its hydrogen fuel cell system. Originally introduced in 2020, HTWO encompasses the entire hydrogen value chain business for the Hyundai Motor Group, covering production, storage, transportation, and utilization.

In May, Hyundai Motor shared its hydrogen vision and introduced its U.S. clean logistics business at the Advanced Clean Transportation (ACT) Expo 2024, consistently reinforcing its leading position in advancing the hydrogen ecosystem through diverse business projects globally. Also, XCIENT Fuel Cell electric heavy-duty trucks recently surpassed a cumulative driving distance of 10 million km in Swiss fleet operations — a testament to the world-class hydrogen fuel cell technology’s long-term reliability.

As President and CEO of Hyundai Motor Company, Jaehoon Chang has been actively engaged in activities to promote the creation of a hydrogen economy and to propose practical solutions for future energy transition. In his new role as Co-Chair, he will discuss global hydrogen energy demand and closely cooperate with CEOs of the Hydrogen Council’s member organizations to accelerate global trade and investment.

“The Hydrogen Council is a crucial initiative in our global energy transition effort,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “I am delighted to be appointed as Co-Chair and I look forward to working with fellow hydrogen leaders to drive innovation and advance deployment.”

Business

SurplusGLOBAL Unveils New Identity: Saving the World with Legacy Semiconductor Equipment

Jun 13, 2024 by Sujata Muguda 0 Comments #A global leader in the legacy semiconductor equipment sector, #Bruce Kim, #CEO of SurplusGLOBAL, #Legacy Semiconductor Equipment, #Semiconductor industry ecosystem, #Seoul, #South Korea, #SurplusGLOBAL, #SurplusGLOBAL Unveils New Identity, #SurplusGLOBAL's legacy parts business

SEOUL, South Korea, June 13, 2024 — SurplusGLOBAL, a global leader in the legacy semiconductor equipment sector, has redefined its corporate identity (CI) with the powerful slogan, “We Save the World with Legacy Semiconductor Equipment & Parts!” This rebranding initiative underscores the company’s commitment to providing sustainable value to the semiconductor industry ecosystem and delivering optimized solutions to meet customer needs.

SurplusGLOBAL-NEW-CI

Since its establishment in 2000, SurplusGLOBAL has played a crucial role in supplying over 60,000 units of legacy semiconductor equipment to a global client base of more than 6,000 customers. The rebranding effort emphasizes the company’s focus on environmental preservation and generation of economic value through the recycling of legacy semiconductor equipment and parts. The new CI and slogan advocate for the advancement of a circular economy within the semiconductor industry by leveraging legacy semiconductor equipment and parts.

The refreshed corporate identity of SurplusGLOBAL combines the concept of resource recycling with the symbolic essence of the semiconductor industry into a contemporary design. This design features an elliptical shape that represents the cycle of recycling, and a small triangle positioned on the left side of the ‘S’ font, symbolizing the perpetual evolution of semiconductor technology. This visual representation aims to highlight the transformative impact of semiconductor technology on our lives, similar to how a single chip, when connected with machinery, can create value. The design’s blend of softness and edge reflects SurplusGLOBAL’s dedication to offering innovative solutions through flexible thinking and clear standards.

Bruce Kim, CEO of SurplusGLOBAL, commented on the corporate direction, “Our new slogan vividly represents our core values and vision for evolving into a sustainable company for the next century. As a platform for legacy equipment and parts, we are committed to fostering a regenerative structure within the semiconductor industry ecosystem, ensuring the continuous development and delivery of optimized solutions to our customers.” SurplusGLOBAL has broadened its focus from merely distributing equipment to include refurbishment, manufacturing, and the distribution and manufacturing of parts. This expansion enhances our customer solutions and establishes a global platform for legacy equipment and parts. The launch of SurplusGLOBAL’s legacy parts business is expected to make a significant contribution to strengthening the increasingly fragile legacy semiconductor equipment supply chain by facilitating the distribution of these essential, albeit highly inefficient, legacy parts.

Business

Hyundai Motor Group’s ‘Na Oh’ Restaurant Redefines Culinary Experience in Singapore with Chef Corey Lee

Jun 13, 2024 by Sujata Muguda 0 Comments #'Na Oh' Restaurant, #'Na Oh' Restaurant Redefines Culinary Experience in Singapore, #Chef Corey Lee, #HMGICS customer experience programs, #Hyundai Motor Company, #Hyundai Motor Group, #Hyundai Motor Group Innovation Center Singapore, #Korean restaurant, #Seoul, #South Korea, #Sungwon Jee

SEOUL, South Korea and SINGAPORE, June 13, 2024 — Hyundai Motor Group (the Group) is excited to announce the opening of a new Korean restaurant, ‘Na Oh,’ with world-renowned Three-Michelin-Star Chef Corey Lee. The restaurant, located at Hyundai Motor Group Innovation Center Singapore (HMGICS), is set to open on June 15, aligning with the reopening of HMGICS customer experience programs.

Image-1---HMGICS-Na-Oh

Na Oh, which means ‘moving from inside out’ in Korean, is more than a restaurant. It is a cultural hub for Korean cuisine, craft and design, showcasing the work of Korean artisans. Under the culinary leadership of San Francisco-based Chef Lee, Na Oh brings a modern touch to traditional Korean cuisine, marking Lee’s debut project in Southeast Asia.

“We’re excited to bring this unique culinary experience to our Innovation Center in Singapore,” said Sungwon Jee, Senior Vice President and Global Chief Marketing Officer at Hyundai Motor Company. “By working with Chef Lee, we’re blending Korean tradition with global innovation that represents what modern Korean culture is all about.”

Business

Lg Hvac Academy Continues to Develop Technical Experts, Strengthen the Company’s B2b Business

Jun 13, 2024 by Sujata Muguda 0 Comments #Company's B2b Business, #Develop Technical Experts, #head of the Air Solution Business Unit at LG Electronics, #Heating, #HVAC solutions, #James Lee, #LG Electronics' (LG), #Lg Hvac Academy, #Seoul, #South Korea, #Ventilation and Air Conditioning (HVAC) Academy

SEOUL, South Korea, June 13, 2024 — LG Electronics’ (LG) Heating, Ventilation and Air Conditioning (HVAC) Academy is reinforcing the company’s human resources infrastructure by training over 30,000 HVAC professionals annually. Building a network of skilled installation and service engineers, the academy is playing an important role in supporting the company’s global B2B expansion strategy.

LGE-HVAC-academy-2

LG Electronics’ (LG) Heating, Ventilation and Air Conditioning (HVAC) Academy in Boston, Massachusetts in United States. Operating in over 60 locations worldwide, the LG HVAC Academy provides comprehensive training on installing and maintaining LG’s residential and commercial HVAC systems, including its high-efficiency chillers.

Operating in 62 locations worldwide, the LG HVAC Academy provides comprehensive training on installing and maintaining LG’s residential and commercial HVAC systems, including its high-efficiency chillers. The academy enhances the skill-and knowledge-base of local technicians, equipping them with the ability to ensure the optimal set-up and performance of the company’s advanced HVAC solutions – which is crucial in delivering the differentiated customer experiences LG is known for.

The LG HVAC Academy estimates it will provide training to approximately 37,000 individuals this year. Each branch of the academy features integrated showrooms and training rooms where attendees can gain hands-on experience with the company’s B2C and B2B products. Along with product installation and maintenance training, LG’s academy introduces the company’s new HVAC solutions and offers specialized regional training programs, technical forums and customized on-site classes at clients’ offices.

Last April, the LG HVAC Academy hosted the five-day ‘Train The Trainer (TTT)’ program at LG headquarters in Seoul, South Korea. The program was designed to further HVAC trainers’ capabilities, giving them the tools to adapt to changes in customer engagement, as well as the valuable opportunity to exchange ideas and experiences with their peers from different regions and subsidiaries.

LG is also expanding its region-specific programs with events such as last month’s LG HVAC Consultant Leaders’ Summit (Seoul) for technical consultants from across Asia. Furthermore, the company is continuously adding to its existing HVAC Academy infrastructure, and is set to open a new branch in Lyon (France) by the end of this year. Notable recent additions to the network include sites in Boston (USA), Taipei (Taiwan), Chennai (India) and Kolkata (India).

With the rise of AI, there is a growing need for high-efficiency, high-performance cooling systems, especially in data centers and semiconductor plants where effective heat management is essential for maintaining server efficiency. LG is targeting continuing growth in the global HVAC market – which had an estimated value of approximately USD 58.4 billion in 2023* – with its high-efficiency heat pump HVAC systems, which have been designed with the latest electrification and environmental trends in mind. Moreover, the company aims to more than double the revenue generated by its residential and commercial HVAC business by 2030 and reinforce its position as a worldwide leader in air conditioning.

“The LG HVAC Academy plays a key role in enhancing the capabilities of engineers in each region,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “We will continue to increase customer engagement to deliver more value and drive our global HVAC business forward.”

Business

ILJIN SNT to Oppose Aurinia Pharmaceuticals’ Revised Incentive Plan

Jun 8, 2024 by Sujata Muguda 0 Comments #Equity Incentive Plan, #ILJIN SNT, #Mr. Greenleaf, #Oppose Aurinia Pharmaceutical, #Oppose Aurinia Pharmaceuticals' Revised Incentive Plan, #Seoul, #South Korea

SEOUL, South Korea, June 7, 2024 —

Dear Fellow Shareholders,

ILJIN SNT Co., Ltd. (“ILJIN”) is a long-standing investor of Aurinia Pharmaceuticals Inc. (“Aurinia” or the “Company”), and, together with its affiliates, currently holds more than 5% of Aurinia’s common stock.

As one of the Company’s largest and longest-standing shareholders, ILJIN would like to share its views regarding the Company’s issuance of excessive amounts of RSUs to its executives and Board members. No doubt this is against the wishes of many Aurinia shareholders concerned about the Company’s future.

As you know, Company management recently revised its proposed amendment to the “Equity Incentive Plan” in Proposal 4 of the Proxy Statement/Circular, so now the number of new “Plan Shares” is reduced to 8,500,000 shares from the previous 11,375,000 shares. As we indicated in our previous letters to fellow shareholders, ILJIN has grave concerns about the Company’s Equity Incentive Plan. In short, to ILJIN, the stock award plan does not appear to function effectively as an incentive plan — but rather operates as a share give-away plan that enriches Board members and Company executives at the expense of substantial share dilution on the part of existing Aurinia shareholders.

The Company has been awarding a massive number of RSUs (which, unlike stock options, are stock grants with zero cost to the recipients) to its Board members and executives during the past several years. For example, the Company awarded Mr. Peter Greenleaf a total of 1,550,000 RSUs between 2022 and 2024, and the RSUs will be vesting fully during the period of 2023-2027. Once the RSUs are fully vested, Mr. Greenleaf will acquire 1.55 million Aurinia shares without the requirement that any additional performance milestones be met. Given the significant number of free shares involved, and vesting period running through 2027 we doubt whether Mr. Greenleaf had a genuine motivation to successfully conclude the Company’s Strategic Review in 2023-2024.

On top of the aggregate 1.55 million RSU grant, Mr. Greenleaf is also set to receive an additional 350,000 shares upon the vesting of Performance Awards. As a result, Mr. Greenleaf may acquire up to a total of 1.9 million shares during the period of 2023-2027. Meanwhile, while Mr. Greenleaf receives substantial equity compensation, the Company’s shareholders have witnessed a shareholder value destruction by more than 50% during the past 3 years. To ILJIN, these Board members and Company executives appear to have been using the Company’s “Equity Incentive Plan” –to gain substantial and excessive equity awards without being required to meet any effective performance milestones.

Needless to say, ILJIN believes the ineffective administration of the “Equity Incentive Plan” is a result of the Board’s lack of the ability and willingness to aggressively exercise oversight of management performance. ILJIN believes these Board members have failed to properly enforce management accountability while also they have been also rubber stamping all these exorbitant stock incentive plans to the detriment of significant share dilution. The Board members should have instead ensured that Peter Greenleaf and others in management and on the Board “earn” these shares.

For these reasons, ILJIN will vote against the Company’s compensation plan as proposed or amended in the Proxy Statement/Circular, and will withhold support for Peter Greenleaf and certain other Board members.

ILJIN believes it is time to send an unequivocal message that the Company’s management and Board must be changed, and that from now on, they all should be held accountable for their performance as the Company’s executives and Board members. Otherwise, ILJIN believes the destruction of shareholder value may continue while stock awards continue to be granted without any meaningful oversight by the Board. ILJIN intends to send this message with its vote at the upcoming AGM.

Business

Fusion Worldwide Receives Prestigious 2024 Best Workplace Award in Korea

Mar 6, 2024 by Mansi Praharaj 0 Comments #Fusion, #Korea, #Marcus Chen, #Ms. Ahae Jo, #Seoul, #South Korea

Seoul, South Korea, 6 March 2024– Fusion Worldwide in Seoul, South Korea, has been honored with the 2024 Best Workplaces in Korea award for its exceptional workplace culture and employee satisfaction.

Fusion Worldwide, a global leader in supply chain solutions, is thrilled to announce that it has been honored with the 2024 22nd Awards of Best Workplaces in Korea™ for its outstanding workplace culture and employee satisfaction. The award, hosted by the Great Place To Work Institute (USA) in collaboration with Great Place To Work® Korea, recognizes companies that prioritize trust management, employee happiness, and organizational excellence.

“We are immensely proud of our Seoul team and their unwavering commitment to creating a workplace where trust, collaboration, and innovation thrive,” said Marcus Chen, VP of Sales at Fusion Worldwide. “This award reflects our collective efforts to build a supportive and empowering environment for our employees.”

Adding to the celebration, two Fusion Worldwide Seoul employees received individual accolades at the awards ceremony:

Ms. Olivia Seohyun Ju was recognized with the “Most Innovative Leader Award,” highlighting her exceptional leadership qualities and commitment to driving innovation within the company.

Ms. Ahae Jo was presented with the “Proud Mom Award,” acknowledging her ability to excel in her professional role while balancing the demands of motherhood.

“We extend our heartfelt congratulations to Ms. Jo and Ms. Ju for their well-deserved individual awards,” said Tobey Gonnerman, President at Fusion Worldwide. “Their achievements represent the exceptional talent and dedication that our Seoul team embodies.”

This recognition by Great Place To Work® solidifies Fusion Worldwide’s position as a leading employer in Korea, attracting and retaining top talent while fostering a culture of excellence and employee growth.

Business World, News

McCain Foods releases its 2nd Global Sustainability Report 2020 themed ‘Together, Towards Planet-Friendly Food’

Jun 10, 2021 by Rekha Nair 0 Comments #India, #Managing Director, #Mr. Vikas Mittal, #South East Asia, #South Korea, #Taiwan at McCain Foods

Mc cain logo

Bengaluru: In line with the Global Sustainability Strategy and Commitments, McCain released its Global Sustainability Report with a focus on India, for the first time, to track progress across its sustainability pillars for the year 2020. As a leader in the prepared potato industry, McCain Foods has embarked upon a journey to create planet-friendly food that is made with clear commitments to the farmers, communities, environment, and consumers – so that consumers can enjoy great tasting food for generations to come.

McCain India has remained committed to integrating sustainable business practices across its operations for over 22 years. In line with the company’s principle of ‘Good Ethics is Good Business’, the Global Sustainability Report along with the India chapter, showcases McCain’s commitment and actions towards its four focus areas I) Smart & Sustainable Farming II) Resource-Efficient Operations III) Good Food and IV) Thriving Communities.

Commenting on the launch of the Sustainability Report 2020, Mr. Vikas Mittal, Managing Director, India, South East Asia, South Korea, Taiwan at McCain Foods said, “Our commitment to sustainability is enshrined in our purpose which is ‘Celebrating real connections through delicious, planet-friendly food’. We believe that building a resilient future and preservation of the planet is our collective responsibility. Sustainability is at the heart of our business and it has guided us towards adapting our operations to deliver delicious food in a sustainable and responsible manner. Our 2020 Sustainability Report (Global & India) is aimed at transparently highlighting the interventions and impact created so far across our sustainability priorities. Our humble yet consistent efforts are in line with the United Nations’ Sustainable Development Goals (SDGs) and we will continue to make concerted efforts towards building a more resilient future for generations to come.”

As the challenges posed by climate change become more acute, the global food system needs to transform significantly. It needs to do so to feed a growing population while reducing its impact on nature. Over the years, McCain food has been successfully driving new models of sustainable farming across the globe while reducing environmental footprints. Even in India, the key goal is to reduce the impact on the land through four pillars:

Smart and Sustainable Farming: Innovative practices that are aimed at improving agricultural resource efficiency by partnering with farmers for water usage efficiency and educating farmers on various farm operating practices like regenerative agriculture.

Key Highlights (2019-2020)
Pillars	Impact
Smart and Sustainable Farming	· Implementing regenerative agricultural practices across 100% McCain potato acres by 2030 · 2% decrease in CO2 emissions \| 14% reduction in water-use intensity · 56% of the contracted volume of potatoes certified under Global GAP · 19% reduction in pesticide use
Resource Efficient Operations	· 50% absolute reduction in CO2 emissions (Scope 1 & 2), move out of coal and 100% renewable electricity by 2030 · 3% improvement in CO2 emissions · Claim 20% renewable electricity in 2021 · 3.2% waste to landfill, up from 1.5% in 2019 · 100% recovery of B2C plastic materials from April 2020
Good Food	· 13% sodium reduction in Veggie Nuggets \| 10% sodium reduction in Smiles · Preparations underway to move from palm oil to alternative oils by 2025
Thriving Community	· Project Shakti – Positively impacted 411 women and girls to date · Project Utthan – Improved the livelihoods of 203 small and marginal farmers in Gujarat in its first year · 152,000 meals 26 tonnes of finished goods donated

Resource Efficient Operations: Our food is produced through the efficient use of natural resources, mainly, energy, water, and sustainably farmed potatoes. We aim to pave the way for building a low carbon economy by reducing Co2 emissions, zero waste to landfill, encouraging the use of renewable energy, and efficient use of water resources.

Good Food: Improving the nutritional profile of our products while continuing to offer new, healthier choices

Thriving Communities: Committed to building long-term, trusted connections with our growers, communities, and employees. We intend to create sustainable livelihoods and maintain them through the competitiveness, resilience, and long-term development of these communities.
Covid Response: Further, to help affected communities in need, McCain also provided more than 1,300 families with essential food items and distributed more than 12,000 masks. These masks were produced by beneficiaries of the company’s community programs. A sum of INR 10 lakh was also contributed by McCain and its employees to state and national relief funds.

Learn more about McCain’s sustainability commitments as well as its journey towards regenerative agriculture in Together, Towards Planet-Friendly Food, 2020 Global Sustainability Report Summary at mccain.com/sustainability.

Tag: South Korea