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News Article | May 19, 2017
Site: www.marketwired.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Anaconda Mining Inc. ("Anaconda") (TSX:ANX) and Orex Exploration Inc. ("Orex") (TSX VENTURE:OX) are pleased to announce the completion of the previously announced plan of arrangement ("Arrangement") between Anaconda and Orex, pursuant to which Orex has now become a wholly owned subsidiary of Anaconda. Dustin Angelo, President and CEO of Anaconda commented, "We are extremely appreciative of the strong support we received from our shareholders and the Orex shareholders in completing this transaction. This marriage of an experienced gold producer with operating infrastructure and a large mineral resource is expected to create significant shareholder value. We have already started down the path of building that value by beginning the Goldboro permitting process, resource optimization, economic analysis and planning for a diamond drill program, among other project development initiatives. We are targeting to have a preliminary economic assessment completed by the end of 2017." Under the Arrangement, Anaconda issued 172,167,741 common shares of Anaconda ("Anaconda Shares") to former shareholders of Orex. As a result, on closing Anaconda had 381,500,492 Anaconda Shares issued and outstanding with approximately 54.9% of the Anaconda Shares being held by former Anaconda shareholders and 45.1% of the Anaconda Shares being held by former Orex shareholders, on a non-diluted basis. Full details of the Arrangement and certain other matters are set out in the joint management information circular of Anaconda and Orex dated April 3, 2017 (the "Information Circular"). A copy of the Information Circular can be found under Anaconda and Orex's respective profiles on SEDAR at www.sedar.com. Trading in the common shares of Orex (the "Orex Shares") are expected to be formally delisted from the TSX Venture Exchange (the "TSXV") effective at the close of business on Tuesday, May 23, 2017. Pursuant to the Arrangement, former Orex shareholders are entitled to receive 0.85 of an Anaconda Share for each Orex Share held. In order to receive Anaconda Shares in exchange for Orex Shares, former Orex registered shareholders must complete, sign, date and return the letter of transmittal (the "Letter of Transmittal") that was mailed to each registered Orex shareholder prior to the special meeting of securityholders of Orex. The Letter of Transmittal is also available under the SEDAR profile of Orex on SEDAR at www.sedar.com. For those shareholders of Orex whose shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their Orex Shares and should follow the instructions of such intermediary or nominee. The board of directors of the combined company (the "Board of Directors") is now comprised of the following individuals: The Board of Directors would like to thank Tim Casgrain and Glenn Dobby, former directors of Anaconda, and Dany Cenac Robert, Marcel Faucher, Robert Schafer, Jean-Pierre Landry and Claude Poulin, former directors of Orex, for their dedication and continued support. In addition, the board of directors of Anaconda would like to thank Jonathan Fitzgerald, the former Chairman and CEO of Orex, Jacques Levesque, the former CFO of Orex, and Julie Godard, the former Corporate Secretary of Orex, for their steadfast stewardship of Orex through this transaction. The Arrangement is intended to provide significant benefits, including: Anaconda's Point Rousse Project has been producing gold for nearly seven years and, in that time, Anaconda has incrementally improved its operating infrastructure, which includes a 1,300-tonne per day mill, tailings capacity for approximately 15 years (based on the current mill throughput rate) and a port facility. Both the Point Rousse Project and Goldboro Project are located on tidewater. With favourable logistics and existing infrastructure in place, Anaconda expects it will be able to accelerate the development of the Goldboro Project at a lower capital cost than if it were a stand-alone project. The Arrangement has created a company with expanded mineral resources, most of which are high grade. The mineral resource portfolio now includes 457,400 Measured and Indicated ounces of gold and 372,900 Inferred ounces at the Goldboro Project in Nova Scotia (see Orex's news release dated March 1, 2017); 107,230 Indicated ounces of gold and 37,030 Inferred ounces at the Point Rousse Project; and 83,000 Indicated ounces of gold and 31,000 Inferred ounces at the Viking Project ("Viking Project") in Newfoundland and Labrador (Table 1). Detailed resource tables (Table 2) prepared in accordance with National Instrument 43-101 ("NI 43-101") are presented below. Table 1. A summary of Mineral Resources at Goldboro, Point Rousse and Viking Projects Prior to closing of the Arrangement, Anaconda already started to work on advancing the Goldboro Project. The permitting process has been underway, beginning with an initial meeting with regulatory officials organized by the Nova Scotia Mineral Development Division, the completion of certain environmental studies related to moose and owl surveys and the preparation for next steps in the process. Anaconda management has also begun community and First Nations engagement. In addition, Anaconda initiated work on the Goldboro mineral resource model to optimize it based on its conceptual development plan. Multiple operating plans are currently being evaluated and the optimal scenario will be determined in the coming months. Anaconda will provide additional updates on its progress as it meets its development milestones going forward. Anaconda's mineral resource portfolio now includes three mineral projects with current NI 43-101 mineral resources including the Goldboro Project, the Point Rousse Project and the Viking Project. Mineral resources for each of these projects are summarized in Table 2. Anaconda is a growth-oriented, Atlantic Canada regional gold producer, developer and explorer with a producing project called the Point Rousse Project on the Baie Verte Peninsula, Newfoundland and a major development project called the Goldboro Project in Nova Scotia. Anaconda also has three other exploration projects called the Viking and Great Northern Projects and the Tilt Cove Property in Newfoundland. Including all projects, Anaconda controls over 600,000 ounces of measured and indicated gold resources and over 400,000 ounces of inferred gold resources. Approximately 70% of the measured and indicated resources are greater than 5.0 grams per tonne and approximately 85% of the inferred resources are more than 4.0 grams per tonne. Anaconda has plans to grow its resource portfolio and production profile through exploration and mergers and acquisitions. To maximize potential profit and minimize capital investment, it will leverage its existing operating infrastructure at the Point Rousse Project including Anaconda's mill facility, tailings capacity and port facility. As the only pure play gold producer in Atlantic Canada, Anaconda is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in its people and giving back to the communities in which we operate - building a better future for all our stakeholders, from the ground up. Paul McNeill, Anaconda's VP of Exploration and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical data of Anaconda and Orex contained in this press release. This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, estimates and/or assumptions in respect of future production, mine development costs, unit costs, capital costs, timing of commencement of operations and future economic, market and other conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to: capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any projects caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; the realization of the expected benefits resulting from the combination of the two entities (or the strategies or future actions of the companies); and other factors. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "intends," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding Anaconda and Orex's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law. CAUTIONARY NOTE TO U.S. INVESTORS REGARDING MINERAL REPORTING The parties prepare their disclosure in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. Terms relating to mineral resources in this press release are defined in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended, which standards differ significantly from the disclosures permitted by the United States Securities and Exchange Commission requirements and terminology set forth in SEC Industry Guide 7. Accordingly, information contained in this press release and the public filings of the parties containing descriptions of mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United State Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.


A look at the Interplay Between the WTO’s Trade Facilitation Agreement and Regional Integration in Africa What is the value addition of the WTO’s Trade Facilitation Agreement to ongoing trade facilitation processes in Africa, and how could it contribute to regional integration on the continent? Regional integration has been part of Africa’s development strategy for many decades – indeed for more than a century in the case of the Southern African Customs Union that was established in 1910. Regional integration is expected to help countries on the continent to overcome constraints arising from small domestic markets, allowing them to reap the benefits of scale economies, stronger competition, and more domestic and foreign investment. Such benefits can raise productivity and diversify production and exports.[1] Regional integration is multi-faceted, encompassing trade, money and finance, infrastructure, natural resources and production, as well as human resources and labour mobility, among others. While progress has been made to varying extents across the different facets and regional economic communities (RECs), several challenges continue to plague Africa’s integration process. These include the multiple and overlapping memberships of RECs; concerns about uneven gains and losses; barriers to the free flow of goods, services, and people across borders; divergent and unstable national macroeconomic policies; and the inadequate capacity of countries and RECs to spearhead the integration process. Trade is central to Africa’s regional integration agenda. This is reflected in the decision of the African Union Assembly of Heads of State and Government in 2012 to fast-track the establishment of the Continental Free Trade Area (CFTA), with 2017 as an indicative deadline, and its approval of the Action Plan for Boosting Intra-African Trade (BIAT). Trade facilitation is one of the priority areas of the BIAT action plan, the others being trade policy, productive capacity, trade-related infrastructure, trade finance, trade information, and factor market integration. Most RECs also have trade facilitation programmes aimed at enhancing intra-regional trade. The WTO’s Trade Facilitation Agreement (TFA) has thus entered into force at a time when trade facilitation is well embraced in Africa in the context of deepening regional integration. One would, therefore, wonder if the TFA adds value to ongoing trade facilitation processes in Africa, and how it would contribute to regional integration on the continent. Furthermore, it is important to understand whether the African countries see the importance of the TFA the way they see the RECs-driven trade facilitation efforts. The same question can be framed differently and that is, why is it that only 19 African countries have so far ratified the TFA? Does it mean that RECs are not able to demonstrate how the ratification of the TFA would support the efforts to enhance trade facilitation? This article aims to shed light on these questions. To that end, it examines the extent to which ongoing trade facilitation measures boost trade flows and regional integration in Africa and how this could be enhanced by the TFA. Regional integration impacts on trade in several ways and vice-versa. Trade facilitation, to the extent that it boosts intra-regional trade also deepens regional integration given that intra-regional trade is an indicator of regional integration. Strengthening regional integration and trade is particularly crucial for three reasons: it can foster economic diversification and transformation, increase resilience to global economic shocks, and generate significant economies of scale through the widening of markets. First, with regard to economic diversification and transformation, intra-African intermediate exports have displayed a stronger dynamism over the last decade than the continent’s intermediate exports to the rest of the world. This is partly because intra-African trade is more diversified than the continent’s trade with the rest of the world and offers broader scope for trading manufacturing intermediates.  In 2010-2012, Africa absorbed 20 percent of its intermediate exports in manufacturing, against 10 percent in agriculture and only 6 percent in mining and quarrying. Countries such as Egypt, Ghana, Kenya, Nigeria, South Africa, Tanzania, and Zambia have recorded gains in their exports of manufacturing inputs within Africa, building to some extent forward linkages with manufacturing firms within the continent. If regional integration records decisive progress, intra-African trade could be a springboard to wider economic diversification and industrialisation.[2] Second, there is evidence that regional integration could serve as a buffer to global economic shocks. The 2008 global financial crisis reiterated the need for Africa to build resilience to such shocks through deepened regional integration. Owing to the relatively weak integration of African financial markets to the global market, the direct effects of the crisis were moderate on the continent.[3] Research shows that the East African Community (EAC) was able to absorb the global economic shocks partly because of deeper intra-regional and intra-African trade ties. The Southern African Customs Union (SACU) region is less resilient to global shocks, notably as a result of weaker regional integration – the small SACU members trade mostly with South Africa and the EU. In general, Africa’s capacity to absorb global shocks can be enhanced by a combination of intra-regional and intra-African trade, fast-growing economies, and diversified trade linkages.[4] Third, regional integration widens markets, generates economies of scale, and attracts foreign direct investment. Regional infrastructure is important in this context as it links Africa to the global economy and promotes economic integration within the continent. However, gaps in infrastructure and infrastructure services across RECs and Africa raise the cost of doing business and impede factor mobility, investment, and competitiveness. To the extent that it reduces transport costs and delays, infrastructure is an important facilitator of trade. The Southern African Development Community (SADC) has better transport connectivity than the Economic Community for Central African States (ECCAS), leading to stronger intra-regional trade in the former than the latter. Trade facilitation enhances trade, and hence contributes directly to regional integration. Importantly, for trade to take place, there must be production. As such, it is sometimes important to also start discussions on the link between trade facilitation and regional integration at a more granular level. Recent literature on agriculture in Uganda shows that there is a link between high transport costs, low productivity, and the size of the agricultural sector.[5] This is a clear evidence that transport costs start affecting a country’s potential to produce, and by extension trade, at the farm level. At the continental level, research shows that complementing the CFTA with trade facilitation reforms would boost Africa’s exports by over 10 percentage points, compared to four percentage points in the presence of CFTA alone.[6] Trade facilitation reforms, in this case, refer to measures that double the efficiency of customs procedures and port handling capacity for imports and exports by 2017 compared to 2010. This suggests that Africa’s non-tariff barriers to trade constitute a more important source of trade cost than trade policy and may dampen the impact of trade liberalisation on the continent. Trade facilitation is therefore a preoccupation of Africa’s trade stakeholders, who recognise that reaping the full benefits of the CFTA hinges on a diligent and steadfast implementation of trade facilitation measures. To that end, trade documents, standards, and customs procedures have to be simplified and harmonised and should conform to international and regional regulations. The logistics of moving goods through ports and the movement of documentation associated with cross-border trade also have to be more efficient. In addition, the environment in which trade transactions take place, including the transparency and professionalism of customs and regulatory environments, needs improvement. Regional economic communities have made significant strides in addressing the above issues. Moreover, most of their efforts are consistent with the provisions of the TFA. For instance, articles 1-6 of the TFA deal with publication and availability of information; other measures to enhance impartiality, non-discrimination, and transparency; and disciplines on fees and charges imposed on or in connection with importation and exportation. In that regard, the EAC, for instance, has relevant trade-related documents such as its Treaty, Customs Management Act and list of tariffs freely available on its website. In line with Article 7 of the TFA, which addresses the release and clearance of goods, countries such as Uganda have introduced facilities for authorised economic operators. Similarly, the Common Market for Eastern and Southern Africa (COMESA) introduced the Regional Payment and Settlement System (REPSS) in 2012, resulting in a faster and cost-effective transfer of funds. Regarding border agency cooperation which is the focus of Article 8 of the TFA, several one-stop border posts (OSBPs) are operational in Africa, including at Chirundu between Zambia and Zimbabwe, and Cinkase between Burkina Faso and Ghana. Several OSBPs also exist under the framework of the EAC at various locations between Kenya, Rwanda, Tanzania, and Uganda. African countries and RECs are also addressing issues related to Article 9 of the TFA, which has provisions on the movement of goods intended for import under control, as well as Article 10, which addresses formalities connected with import, export, and transit. For instance, 11 countries on the continent reduced the number of documents required for import and export between 2007 and 2013, and many of them are moving to electronic submission of documents[7]. Several countries have introduced single window systems including Cameroon, Ghana, Kenya, Mauritius, Senegal, and Tunisia, among others. Electronic cargo management has also gained ground, including the use of cargo tracking systems and electronic management of customs warehouse, with Uganda introducing an online tracking process. Articles 11, 12, and 13 of the TFA cover transit of goods, customs cooperation and exchanges of information, and institutional arrangements respectively. In this regard, most RECs have regulatory frameworks for the movement of goods on transit. They have harmonised or introduced vehicle load and dimension controls, road transit charges, carrier license and transit plates, third party motor insurance schemes, road transport customs transit declaration documents, and regional customs bond guarantee schemes. Most of these measures exceed the scope of the TFA, which does not explicitly deal with transport infrastructure issues. Concerning institutional arrangements, the RECs’ Transport Coordination Committee (REC-TTC) and the African Corridor Management Alliance play important coordination roles at the regional level. Several countries also have national committees on trade facilitation.[8] In principle, the TFA could stimulate regional integration by widening markets through improvements in the efficiency of customs and other border agencies in expediting cargo clearance, the ability of relevant actors to track and trace international shipments, and the timelines of shipments in reaching destination.In essence, it could help address the proximity gap observed in Africa, where in many instances it is more costly for a country to trade within its own REC than with countries in other regions of the world.[9] Overall, the TFA could reduce the time and cost required to export and import, including for obtaining all documents, inland transport and handling, customs clearance and inspections, and port and terminal handling. The TFA fills neither a policy nor programme vacuum in Africa, as the continent already had a well-developed trade facilitation policy landscape prior to its entry into force. This partly explains the initial reluctance of African countries to support a multilateral framework. It may also be the reason why only 19 African countries have ratified the TFA. It is not that trade facilitation issues are not important, but rather that the regional initiatives have been addressing some of the challenges that the TFA is meant to address. However, the multilateral process of developing the TFA raised awareness among African countries and RECs and reiterated the importance of trade facilitation in boosting international trade. It also stimulated action from African countries and RECs that lacked momentum in implementing existing trade facilitation policies. This is because the TFA negotiations confirmed that these countries and RECs were on the right track, given the consistency between the TFA provisions and their trade facilitation programmes. Emphasising this point of consistency would go a long way in demonstrating to African members of the WTO who have not ratified the TFA the merits of doing so. It is however fair to say that the biggest contribution of the TFA to regional integration in Africa could be in terms of capacity strengthening, a point that African WTO members have emphasised continuously. The TFA promises developing countries, especially the least developed among them, technical assistance and capacity building towards meeting their commitments under the agreement.  Specifically, countries have the option of scheduling the implementation of the agreement under three categories (A, B and C). Under category C, developing countries require technical assistance and capacity strengthening. This will go a long way to contribute in enhancing the capacity of African countries and RECs to spearhead the regional integration process through the implementation of trade facilitation measures. An underlying assumption from a regional cooperation perspective is that the African countries that share borders, or use common port or transport facilities, will coordinate how they implement the trade facilitation measures. In so doing, the coordinated implementation will also strengthen the effectiveness of mechanisms to manage the regional integration process, and the ability of countries to integrate regional integration (in this case, trade facilitation measures) into national development plans. This article has shown that trade facilitation, to the extent that it boosts intra-regional trade, deepens regional integration – given that intra-regional trade is an indicator of regional integration. It also underlined why strengthening regional integration and trade is crucial, including in terms of economic diversification and transformation, resilience to global economic shocks, and widening of markets. Trade facilitation is an imperative for boosting intra-African trade and avoiding a sluggish response to trade liberalisation in the context of the CFTA. Therefore, African countries were already implementing measures to tackle barriers to the free flow of goods, services, and people across borders before the TFA entered into force. The TFA could enhance ongoing efforts in Africa, as its provisions are consistent with the continent’s trade facilitation objectives. It could strengthen the capacity of African countries and RECs to spearhead the implementation of trade facilitation measures. Capacity building was the cornerstone of Africa’s position during the TFA negotiations. Going forward, the continent should take full advantage of the capacity building opportunities offered by the TFA, identifying areas where capacity building is required and mobilising resources to close the capacity gap. Authors: Stephen Karingi, Director of the Capacity Development Division and Officer in Charge of the Regional Integration and Trade Division, Economic Commission for Africa, Addis Ababa. Robert Tama Lisinge, Chief of the Operational Quality Section of the Strategic Planning and Operational Quality Division, Economic Commission for Africa, Addis Ababa. [1] Economic Commission for Africa. Assessing Regional Integration in Africa. Addis Ababa: Economic Commission for Africa, 2013. [2] Economic Commission for Africa. Economic Report on Africa: Industrialising through trade. Addis Ababa: Economic Commission for Africa, 2015. [3] Economic Commission for Africa and African Union. Economic Report on Africa: Developing African Agriculture through Regional Value Chains. Addis Ababa, 2009. [4] Mthuli Ncube, Zuzana Brixiova,and Qingwei Meng. “Can Intra-Regional Trade Act as a Global Shock Absorber in Africa?” African Development Bank Group Working Paper Series 198, 2014. [5] Gollin, Douglas and Richard Rogerson. “Agriculture, Roads and Economic Development in Uganda” in African Successes, Volume IV, Sustainable Growth, edited by Sebastian Edwards, Simon Johnson, and David N. WeilChicago: National Bureau of Economic Research, The University of Chicago Press, 2016. [6] Simon Mevel and Stephen Karingi, “Towards a Continental Free Trade Area in Africa: a CGE Modelling Assessment with a Focus on Agriculture,” in Shared Harvests Agriculture Trade and Employment, edited by David Cheong, Marion Jansen, and Ralf Peters. Geneva: International Labour Organisation and United Nations Conference on Trade and Development, 2013. [7] Economic Commission for Africa. Trade Facilitation from an African Perspective. Addis Ababa: Economic Commission for Africa, 2013. [8] Giovanni Valensisi, Robert Lisinge and Stephen Karingi. “The Trade Facilitation Agreement and Africa’s Regional Integration.” Canadian Journal of Development Studies 37(2), 2016. [9] Economic Commission for Africa. Trade Facilitation from an African Perspective. 2013.


News Article | May 18, 2017
Site: globenewswire.com

Piret Paulus has worked in the financial sector for a long time and for the last six years, she managed Coop Finants AS, a joint venture of Inbank and Coop Eesti. Since December 2016, Paulus has been responsible for sales and marketing at Inbank. She has also worked as the head of the Small Financing Department of the Business Development Division of Swedbank’s Baltic Banking, where she was responsible for the strategy and development of unsecured credit products and credit cards in Estonia, Latvia and Lithuania. She worked in Hansabank and Swedbank since 2004, where she managed the various areas of consumer financing. According to Priit Põldoja, Chairman of the Supervisory Board of Inbank, Piret Paulus is a true consumer financing professional and people like her are very difficult to find in Estonia. “We are very pleased that after launching Coop Finants, Piret decided to join the Inbank team to build a new kind of bank,” said Põldoja. “As a result of her work, Coop Finance grew from zero to a profitable company that meets the financial needs of hundreds of thousands of clients,” Põldoja said. The management board of Inbank consists of four members: CEO Jan Andresoo, Chief Finance Officer Marko Varik, Head of Business Processes Liina Sadrak, and Head of Sales and Marketing Piret Paulus. In order to pursue the changes made in the operating strategy of Inbank’s Latvian subsidiary late last year, a new manager, who is highly competent in the area of financing joined Inbank’s Latvian team. The new Chief Executive Girts Ledinš, who previously managed the area of leasing at Norvik Bankas, joined the Latvian team of Inbank in the middle of May. He has also managed the Latvian financial company Mogo and was one of the founders and the CEO at Motoro Leasing. Ledinš has also worked in audit firms BDO and Deloitte. As a result of the changes in the management board of the Latvian company, Inbank will repurchase the 10% holding from the former head of Inbank Lizings and will then be the sole owner of the subsidiary.


News Article | May 18, 2017
Site: globenewswire.com

Piret Paulus has worked in the financial sector for a long time and for the last six years, she managed Coop Finants AS, a joint venture of Inbank and Coop Eesti. Since December 2016, Paulus has been responsible for sales and marketing at Inbank. She has also worked as the head of the Small Financing Department of the Business Development Division of Swedbank’s Baltic Banking, where she was responsible for the strategy and development of unsecured credit products and credit cards in Estonia, Latvia and Lithuania. She worked in Hansabank and Swedbank since 2004, where she managed the various areas of consumer financing. According to Priit Põldoja, Chairman of the Supervisory Board of Inbank, Piret Paulus is a true consumer financing professional and people like her are very difficult to find in Estonia. “We are very pleased that after launching Coop Finants, Piret decided to join the Inbank team to build a new kind of bank,” said Põldoja. “As a result of her work, Coop Finance grew from zero to a profitable company that meets the financial needs of hundreds of thousands of clients,” Põldoja said. The management board of Inbank consists of four members: CEO Jan Andresoo, Chief Finance Officer Marko Varik, Head of Business Processes Liina Sadrak, and Head of Sales and Marketing Piret Paulus. In order to pursue the changes made in the operating strategy of Inbank’s Latvian subsidiary late last year, a new manager, who is highly competent in the area of financing joined Inbank’s Latvian team. The new Chief Executive Girts Ledinš, who previously managed the area of leasing at Norvik Bankas, joined the Latvian team of Inbank in the middle of May. He has also managed the Latvian financial company Mogo and was one of the founders and the CEO at Motoro Leasing. Ledinš has also worked in audit firms BDO and Deloitte. As a result of the changes in the management board of the Latvian company, Inbank will repurchase the 10% holding from the former head of Inbank Lizings and will then be the sole owner of the subsidiary.


News Article | May 24, 2017
Site: www.prnewswire.com

Peter Cazamias, Associate Administrator, Office of International Trade Peter Cazamias is responsible for administrating the newly reorganized department with oversight and execution of four program divisions: (1) The Federal & State Trade Development Division, (2) The International Trade Finance Division, (3) The International Affairs & Trade Policy Division, and (4) Administration & Operations with focus on Budget, Human Resources, and Management. Prior to joining the SBA, Cazamias consulted with an entrepreneurial partnership on a real estate private equity fund. Before this, he spent seven years in the energy industry, where he served as a business segment manager for an oilfield service supplier FMC-Technip and worked at a pipeline technology company Insituform (now Aegion Corp.). Cazamias served our country as a Marine Officer on active duty until October 2002, serving as a Judge Advocate in Quantico, VA, and achieving the rank of Captain. He also received a BA from Yale University, a Doctorate of Jurisprudence from The University of Texas, and an MBA in finance from University of Pennsylvania. Cazamias is fluent in Spanish, Italian and French and speaks some Mandarin. Robb Wong, Associate Administrator, Office of Government Contracting and Business Development Robb Wong advocates for small businesses in federal government contracting across government. Historically, the AA/GCBD oversees more than $500 billion in total federal spending within the federal marketplace and helps ensure that small businesses can compete for federal contracting opportunities. Wong has a depth of experience focused on small business. He started his career as an SBA attorney in the Office of General Counsel; then was a Special Assistant U.S. Attorney in the Houston District Office; and later was the SBA Acting District Director/Counsel in the Lubbock District Office. From 1996 to 2017, Wong held several leadership positions in several small businesses that successfully used the SBA's products and programs to enhance their growth. He is a graduate of Georgetown University Law Center. Allen Gutierrez, Associate Administrator, Office Entrepreneurial Development Allen Gutierrez oversees a nationwide network of offices, business executives, and mentors that support current and aspiring business owners as they start, grow, and compete in today's global market. This nationwide network includes the following Resource Partners: Women's Business Centers (WBCs), Small Business Development Centers (SBDCs), and SCORE. Most recently, Gutierrez served as the national Executive Director of The Latino Coalition (TLC). Under his leadership, the coalition grew to include 1.2 million Hispanic business owners and over 90 coalition partners, transforming TLC into one of the nation's largest and most effective Latino advocacy groups. Gutierrez previously served in the U.S. Small Business Administration from 2001 to 2006; during his tenure, he served as Senior Advisor to the Chief Operating Officer, as well as Senior Advisor to the Office of International Trade. Born in San Jose, Costa Rica, Gutierrez immigrated to California in 1974, where he achieved his dream of becoming the first member of his family to graduate from an accredited four-year college. He earned his Bachelor of Arts in political science with a minor in business administration from the University of Southern California. Michael Hershey, Associate Administrator, Office of Congressional and Legislative Affairs Michael Hershey focuses on Congressional relations and the development and enactment of SBA legislative proposals. This office works with congressional members and committees to ensure that Administration policy is properly represented in legislation and that all congressional stakeholders are fully informed about SBA programs and initiatives. Hershey was Principal of Columbia Strategies, a government relations and consulting firm in the broadcast industry. The firm's portfolio addressed communications, policy and legal issues related to copyright law, communications law and tax law. Previously, he was the Senior Vice President of Government Relations for the National Association of Broadcasters, where he advocated for the 8,300 television and radio members of NAB. Hershey also has extensive experience on Capitol Hill. He served as Chief of Staff and Legislative Director for U.S. Senator Rick Santorum (R-PA); was a Ways and Means Associate; and served as a Legislative Aide to his hometown congressman Representative Bob Walker (R-PA). Hershey earned his Bachelor of Arts in government from Franklin and Marshall College. About the Small Business Administration The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. To learn more about SBA, visit http://www.sba.gov To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sba-administrator-linda-mcmahon-appoints-four-top-senior-executives-300463531.html


News Article | April 27, 2017
Site: globenewswire.com

Energijos Skirstymo Operatorius AB (hereinafter – the Company), identification code 304151376, registered office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 894 630 333; ISIN code LT0000130023. The Company informs that on 26 April, 2017 the Supervisory Board of the Company adopted a decision to elect Saulius Vaičekauskas as the new member of the Board in charge of the area of network operations from the end of the meeting of the Supervisory Board of the Company that elected him until the end of the term of office of the current Board of Directors. The newly elected member of the Board will take the office of the Director of Network Operations Division. "I am glad that I will be able to contribute to a safer and more reliable energy supply to the customers. I am ready to continue work, search and install advanced electricity and natural gas distribution network technological solutions enabling to increase the operating efficiency of the distribution networks", - said S. Vaičekauskas. S. Vaičekauskas has accumulated 14 years of management experience in the field of energy. Since the establishment of ESO in 1 January, 2016 he led Company's Metering Management department. Until then for nearly five years he led LESTO Operations department, during 2003-2010 he managed Electricity Supply and Accounting unit of Vakarų Skirstomieji tinklai (VST), worked in other positions. S. Vaičekauskas graduated from Kaunas University of Technology (KTU) and holds a master’s degree of International Trade and bachelor’s degree of Electricity Engineering. Besides S. Vaičekauskas the Board of the Company consists of Dalia Andrulionienė (Chairman of the Board and Chief Executive Officer of the Company), Augustas Dragūnas (Director of Finance and Administration Division), Rytis Borkys (Director of Network Development Division) and Ignas Pranskevičius (Director of Services Division).


Denali Advanced Integration announces the launch of the Enterprise Application Development Division and taps Industry Software Veteran Jamison “Jamie” Marra to lead the new division. Jamison “Jamie” Marra has been named Executive Vice President of the Enterprise Application Development Division reporting directly to Denali Chief Executive Officer and co-founder Majdi Daher. “The Enterprise Application Development Division will enable Denali to provide offerings across the entire technology stack and meet our customer’s needs end-to-end,” said Majdi Daher, CEO and Founder of Denali, “We’re thrilled to have this group led by such an acclaimed software industry veteran. Jamie has been driving innovation in software development for decades and we are excited about the value provided to our customers through his leadership, expertise and innovation,” Daher continues. “Jamie shares our worldview and knows what it takes to drive new growth in the Enterprise Application Development space,” says Daher. Marra joins Denali from Maxsam Partners where he most recently served as CEO and co-founder. For more than 30 years, Marra has helped Fortune 1000 companies achieve high growth and turnarounds (including transformations) by delivering innovative solutions for their large-scale software initiatives. He has held executive and senior leadership positions at some of the largest high tech companies in the industry such as Microsoft, Amazon.com, EDS, aQuantive and more. Marra specializes in delivering innovative products, building great teams and scaling their capabilities to achieve high-growth business and technical results for customers. “I’m excited to join Denali at such a pivotal and transformative time for the company and the industry. Building new and disruptive enterprise software platforms and solutions for our clients across the globe is a tremendous opportunity, and I look forward to leading these efforts,” said Jamie Marra, Executive Vice President of Enterprise Application Development at Denali. Denali’s Enterprise Application Development Division will focus on seven new core services which include: • Professional Services for Amazon Web Services (AWS) • DevOps Services • Big Data Services (Artificial Intelligence, Machine Learning, and Deep Learning) • IT Software Engineering Staffing • Digital Services • Software Application Development Services • Testing Services Learn more about Denali’s Enterprise Application Development Services. About Denali Advanced Integration Denali delivers Enterprise IT solutions and services, powered by strategic experts and best of breed technologies to help guide our clients through the most complex IT challenges. For nearly 25 years, Denali has been one of the most trusted and prominent technology providers in North America, providing a comprehensive set of technology solutions to enable our customers to grow, maintain and expand their business globally. Learn more at Redmond, WA, April 25, 2017 --( PR.com )-- Denali Advanced Integration , a global leader in providing world-class Enterprise IT solutions and services, today announced the formation of Denali’s Enterprise Application Development Division. The new division is the culmination of our vision and commitment to our customers to create a 360-degree integrated set of offerings across the entire enterprise.Jamison “Jamie” Marra has been named Executive Vice President of the Enterprise Application Development Division reporting directly to Denali Chief Executive Officer and co-founder Majdi Daher.“The Enterprise Application Development Division will enable Denali to provide offerings across the entire technology stack and meet our customer’s needs end-to-end,” said Majdi Daher, CEO and Founder of Denali, “We’re thrilled to have this group led by such an acclaimed software industry veteran. Jamie has been driving innovation in software development for decades and we are excited about the value provided to our customers through his leadership, expertise and innovation,” Daher continues.“Jamie shares our worldview and knows what it takes to drive new growth in the Enterprise Application Development space,” says Daher.Marra joins Denali from Maxsam Partners where he most recently served as CEO and co-founder. For more than 30 years, Marra has helped Fortune 1000 companies achieve high growth and turnarounds (including transformations) by delivering innovative solutions for their large-scale software initiatives. He has held executive and senior leadership positions at some of the largest high tech companies in the industry such as Microsoft, Amazon.com, EDS, aQuantive and more. Marra specializes in delivering innovative products, building great teams and scaling their capabilities to achieve high-growth business and technical results for customers.“I’m excited to join Denali at such a pivotal and transformative time for the company and the industry. Building new and disruptive enterprise software platforms and solutions for our clients across the globe is a tremendous opportunity, and I look forward to leading these efforts,” said Jamie Marra, Executive Vice President of Enterprise Application Development at Denali.Denali’s Enterprise Application Development Division will focus on seven new core services which include:• Professional Services for Amazon Web Services (AWS)• DevOps Services• Big Data Services (Artificial Intelligence, Machine Learning, and Deep Learning)• IT Software Engineering Staffing• Digital Services• Software Application Development Services• Testing ServicesAbout Denali Advanced IntegrationDenali delivers Enterprise IT solutions and services, powered by strategic experts and best of breed technologies to help guide our clients through the most complex IT challenges. For nearly 25 years, Denali has been one of the most trusted and prominent technology providers in North America, providing a comprehensive set of technology solutions to enable our customers to grow, maintain and expand their business globally. Learn more at www.Denaliai.com


BEIJING, April 21, 2017 /PRNewswire/ -- Today, 2017 Tsinghua Aging Industry Forum was convened at Tsinghua University. Centering on the topic of "Layout & Positioning", the Forum discussed the layout of and opportunities in China's aging industry and the specific practical experiences of social organizations, enterprises and individuals. As a leading company of Nutrition, Health and Wellness, Nestle delivered a keynote speech on Nutrition as Part of Solution for Healthy Aging: It also Takes a Village for Healthy Aging in China. Tsinghua Aging Industry Forum has been successfully held for 9 years and has become one of the most influential forum platforms in China's aging care industry. As the first food company invited by the forum, Nestle has always treated nutrition and wellness of the elderly as a focus and one of its research topics. Dr. Kai Yu from Nestle Research Center introduced Nestle's experiences and highlighted the important role of nutrition for healthy aging in China. According to the 6th Census data in 2010, population over 50 years old constituted 28.3% of the total population in China. By 2050, the ratio could reach 1/2. China faces severe aging problem. During the Forum, officials from the Family Development Division of the National Health and Family Planning Commission of the PRC (NHFPC) introduced the main message and background of the Planning of Development of the Aging Industry and the Elderly Care System in the 13th Five-Year Period. The Planning points out that compared to other countries, China faces more complex aging problems. The most severe ones include a large absolute number of old people and a rapidly increasing number of vulnerable elderly who live alone and who are disabled or partially disabled. The demand for elderly care industry is huge. China State Assessment Report on Aging and Health jointly published by WHO and NHFPC validated the situation. The Report mentioned that average life expectancy in China was 76.3 years in 2015. However, average healthy life expectancy was only 66 years old. "In the ten year gap, physical function and quality of life are affected by chronic diseases and other risk factors. Narrowing the 10 year health gap is the main challenge for realizing nationwide healthy aging." Dr. Kai Yu said, "Nestle's research on healthy aging is dedicated to explore nutrition solution for helping to address this challenge. Nestle is committed to improving life quality of the middle aged and the old people and contributing to extending the average healthy life expectancy of the Chinese people by providing healthy nutrition for prevention of nutrition related chronic diseases." During the keynote speech, Kai Yu introduced the concept of "biological age" which is based on measurements of biomarkers and functional indicators. "We usually say that an old person doesn't look like they are in their 70s and they look much younger. There is scientific foundation for why we say that. Published study have shown that biological age can vary up to 20 years depending on health conditions even for people of the same age."  Promotion of a healthy life style including improving dietary quality and having sufficient nutrient intake is an important way for prevention of nutrition-relevant non-communicable chronic diseases, which is part of the explanation for the mismatch between biological age and chronological age. Enhancing the quality of life through support of healthy diet and optimal nutrition is the focus for Nestle's R&D in the elderly related area. Increase diet's nutrition and realize the targets of average life expectancy According to Global Burden of Disease Study, the leading factor influencing the Chinese healthy life expectancy was not the environmental factor as is a hot topic for the country, but dietary risk factor. Kai Yu said that evidences from epidemiological studies have shown that the association between dietary quality and healthy aging. A large scale meta-analysis involving cohort data of 396,000 people above 60 years old in Europe and the US sponsored by EU demonstrated that an increase of 10 Healthy Diet Indicator points was significantly associated with a decrease risk of all-cause mortality, equivalent to a two year increase in life expectancy." In laymen's word, the finding of the research suggested that it was never too old to eat healthy. In October 2016, the national Healthy China 2030 Plan proposed that by the year 2030, there is a goal to increase average life expectancy in China to 79 years old, 3 years increase from 76 years in 2015. Kai Yu believed that the improvement of dietary quality and nutrition status would be an important contributor to reach this goal. "Considering the fact that dietary risk as the no.1 risk factor of suboptimal health condition, improving dietary quality could be an important approach to modify risk factors and helping to reach the national goal of increasing life expectancy of the population." China elderly dietary nutrition research carried out by Nestle Research Center and the Chinese Center for Disease Control and Prevention (CDC) showed that among the 11 food categories in residents' dietary pagoda, intake of dairy products and fruits were the two categories that most insufficient compared to the dietary recommendation guideline for population over 60 years old. The daily intake of the two was just around 30 grams, only 10% of the recommended intake level. Enhancing dietary quality is the advice and practice consistently implemented by Nestle in elderly care. Apart from encouraging the elderly to take more dairy products and fruits, Nestle has also innovated dairy products for the cardiovascular benefits of the middle aged and the elderly people with its R&D excellence. Based on expertise from its global food and health R&D network, Nestle launched Yiyang milk powder in China, which was supplemented with phytosterol ester, an ingredient with cardiovascular health benefit. Through clinical trials, Nestle proved for the first time the clinical efficacy of phytosterol ester added milk powder on lowering total cholesterol and LDL-C in a Chinese population and the research was received and published by the leading journal in the field -Chinese Journal of Cardiology. One of the topics of the forum was how government, social organizations, enterprises and individuals could establish synergy in constructing elderly care service system. Nestle proposed to establish healthy aging industry partnership. In his speech, Dr. Kai Yu from Nestle R&D cited Finland as an example to show the importance of cross-function collaboration in helping a country to achieve healthy aging: "the success of Finland is a thrilling case to show if people from different walks of life join together, they can change the world." To reduce its world leading CVD incidence, Finland initiated a pilot community intervention in early 1970s and later upgraded to a nationwide program. Promoted by the government, supported by the Finnish people including industry and lay people, and strengthened by scientific innovation, the national dietary habit was changed. During 35 years' time, mortality of CVD was reduced by 75% (mortality of cancer was reduced by 53% in the same period), making Finland the example of prevention of non-communicable chronic disease recommended by WHO. "The cooperation proposed by Nestle is also a kind of partnership that serves the elderly with more suitable products and services in different aspects in life," said Kai Yu. A while ago, Nestle Yiyang and iQIYI video created "Yiyang 50+ Channel". It is the first video service platform for the elderly in China, providing the elderly with health and wellness information and programs that they are interested in. Nestle Yiyang also collaborated with Xiaomi Mobile on introducing a Yiyang theme pack tailored for the middle aged and the elderly. In the future, Nestle will continue to expand partnership and implement its motto of Creating Shared Value in the healthy aging industry. Nestle R&D used to carry out cultural anthropology studies to compare cross-cultural understanding of aging, with countries studied including China, France, Germany and Russia. The research found out that one common theme of people from different countries when they talked about aging was that instead of talking about age in absolute number, they would take a comparative perspective that make them younger. Marriane Tsanis, Head of Dairy Unit, Nestle Greater China said: "People will not always be young. However through appropriate nutritional diet, and a healthy life style, people can maintain a young condition for longer time. Nestle pays great attention to the genuine request of the middle aged and the elderly. This also reflects Nestle's purpose "Enhancing quality of life and contributing to a healthier future".


News Article | February 15, 2017
Site: spaceref.biz

NASA took another big step to ensure reliable crew transportation to the International Space Station into the next decade. The agency's Commercial Crew Program has awarded an additional four crew rotation missions each to commercial partners, Boeing and SpaceX, to carry astronauts to and from the International Space Station. The four additional missions will fly following NASA certification. They fall under the current Commercial Crew Transportation Capability contracts, and bring the total number of missions awarded to each provider to six. The additional flights will allow the commercial partners to plan for all aspects of these missions while fulfilling space station transportation needs. The awards do not include payments at this time. "Awarding these missions now will provide greater stability for the future space station crew rotation schedule, as well as reduce schedule and financial uncertainty for our providers," said Phil McAlister, director, NASA's Commercial Spaceflight Development Division. "The ability to turn on missions as needed to meet the needs of the space station program is an important aspect of the Commercial Crew Program." The two commercial spacecraft also will provide a lifeboat capability to allow the astronauts aboard the station to return safely to Earth in an emergency, if necessary. Returning human launch capabilities to U.S. soil underscores NASA's commitment to the station and the research that the orbiting laboratory makes possible including the advancement of scientific knowledge off the Earth, for the benefit of those on the Earth and to prepare for future deep space exploration. The Commercial Crew Program will help NASA get full operational use from the national laboratory for scientific research by increasing the number of astronauts on the space station, and allowing the crew members to dedicate more time to research. The commercial crew vehicles will transport up to four astronauts for NASA missions, along with about 220 pounds of critical cargo to the space station. More time dedicated for research allows NASA to better understand the challenges of long-duration human spaceflight without leaving low-Earth orbit. As NASA develops the Orion spacecraft and the Space Launch System rocket for deep space missions, including the journey to Mars, NASA is turning over low-Earth orbit crew and cargo transportation to commercial companies. This two-pronged approach is critical to achieve the agency's exploration goals. Boeing's uncrewed flight test, known as an Orbital Flight Test, is currently scheduled for June 2018 and its crewed flight test currently is planned for August 2018. SpaceX's uncrewed flight test, or Demonstration Mission 1, is currently scheduled for November 2017, followed by its first crew flight test in May 2018. Once the flight tests are complete and NASA certifies the providers for flight, the post-certification missions to the space station can begin. Boeing and SpaceX are developing two unique human space transportation systems. They also are upgrading necessary infrastructure, including launch pads, processing facilities, control centers and firing rooms. Boeing is developing the CST-100 Starliner that will launch on a United Launch Alliance Atlas V rocket from Space Launch Complex 41 at Cape Canaveral Air Force Station. SpaceX is developing the Crew Dragon to launch on the company's Falcon 9 rocket from Launch Pad 39A at the agency's Kennedy Space Center. Both are located on Florida's Space Coast. Please follow SpaceRef on Twitter and Like us on Facebook.


« Hyundai unveils Ioniq HEV, PHEV and EV for US market at New York show | Main | Aemetis acquires license from LanzaTech with California exclusive rights for advanced ethanol from biomass including forest and ag wastes » Toyota GAZOO Racing revealed the all-new TS050 HYBRID LMP1 racer—Toyota’s third new car since joining WEC in 2012—for the 2016 World Endurance Championship (WEC) competition. Following an unsuccessful defense of its World Championship titles in 2015, Toyota set itself tough performance targets in order to compete once again at the front of the field, featuring fellow LMP1-Hybrid manufacturers Porsche and Audi. The TS050 HYBRID features a significant change in powertrain concept. A 2.4-liter, twin-turbo, direct injection V6 gasoline engine is combined with an 8MJ hybrid system, both of which are developed by Motor Sport Unit Development Division at Higashi-Fuji Technical Center. The regulations for this season include a reduction in fuel flow and total fuel energy of approximately 7.5%. As motorsport engineers, we want to always increase the performance of the powertrain so it was important to compensate for this reduction with a more efficient, powerful powertrain. We believe a V6, direct injection, twin turbo engine achieves the best balance of power and efficiency considering the current regulations. Combined with our move into the 8MJ class, this will give us significantly improved torque compared to the previous powertrain; this was a key target for the new car. The new powertrain presents some challenges, particularly in terms of weight and cooling, but the team at Higashi-Fuji and Cologne has worked very hard to address these and I am confident we have met the challenge. We face tough opposition, as last year showed, but we are ready and I cannot wait for Silverstone. A new generation turbo engine with direct injection is better suited to the current regulations which limit fuel flow to the engine, and provides opportunity to continue technology and knowledge transfer from the track to road cars. Like Toyota road cars, the front and rear motor-generators recover energy under braking, storing it in a high-powered lithium-ion battery and releasing it as boost for maximum efficiency. The change from super capacitor to battery storage allows the TS050 HYBRID to move up to the more-powerful 8MJ hybrid class. With the engine contributing 368 kW (494 hp) and the hybrid system contributing the same, combined power for the TS050 is 736 kW (987 hp). The TS040 HYBRID was already used as a rolling test bench and contributed to current road cars. With turbo engines increasingly in use on the road, Toyota expects to use the technology and know-how from WEC to make ever-better road cars. The new powertrain concept brings different cooling and packaging demands, including an updated transmission to handle the significant increase in torque delivered by the turbo engine. Combined with a new aerodynamic concept, that means virtually every part on the TS050 HYBRID chassis has been redesigned by Toyota Motorsport GmbH in Cologne, Germany. Powertrain components have played their part too in the improved aerodynamic performance of the TS050 HYBRID—by relocating the front motor-generator unit, better under-floor air flow has been achieved which will contribute to overall performance. Suspension kinematics have also been revised to optimize tire wear. The team has already been busy testing the TS050 HYBRID, striving for performance and reliability, covering over 22,000 km (13,670 miles) with positive results. The next test comes at Paul Ricard on 25-26 March, while the nine-race WEC season kicks off at Silverstone on 17 April. Aside from some principles which have been retained to capitalise on previous years’ development, we have changed every single part. In many areas, like the powertrain and the aerodynamics, the concepts themselves have changed. The aerodynamic concept, and particularly the front face of the car, has changed drastically. We have spent thousands of hours refining this new concept and this time we have done more than incremental changes; we have significantly changed the way we handle the flow structure after the front downforce-generating devices. There has been a significant progress rate in WEC recently so we cannot afford to have any area of the package which is not fully optimized. The TS050 HYBRID has been developed on that basis. We want to be competitive. That is the minimum target we set ourselves—to be back in the game and competitive.

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