News Article | May 8, 2017
NEW YORK--(BUSINESS WIRE)--New York University Stern School of Business is launching a new category of specialized MBA, optimized for MBA seekers who are firmly committed to business careers either in technology or in fashion and luxury. Stern’s new Tech MBA and Fashion & Luxury MBA will enable students to build applicable knowledge, gain relevant real-world experience and earn their MBA in one year. The program structure consists of four components: a business core; a technology or fashion and luxury core; real-world experiential learning projects with organizations in the respective specialty areas; and electives. Given Stern’s proximity to multinational brands, start-ups and nonprofits, the School has offered experiential learning projects to its MBA students for more than 15 years. The Stern approach matches students with faculty to help an organization solve a real business challenge in real time. Stern MBAs have engaged with companies ranging from Diane Von Furstenberg to MasterCard to HBO and more, with student participation in projects growing by more than 130 percent in the past two years alone. With the establishment of the new focused MBAs that will incorporate real-world business projects as an essential element of the curriculum, Stern is elevating its commitment to experiential learning and branding it Stern Solutions. “Because we sit in the heart of the business ecosystem that is New York City, with global headquarters and new economy upstarts just outside our doors, we are in constant conversation with industry about developing future talent," said Peter Henry, Dean, NYU Stern. "This dialogue drives continuous innovation at Stern, such as establishing the first FinTech MBA specialization at a business school last year to creating new specialized MBA programs now, so we stay as relevant to the new economy as we are to Wall Street." Stern developed these programs through extensive conversations and in conjunction with industry advisors, including business leaders from Amazon, BuzzFeed, Citigroup and General Catalyst, to cite a few organizations. Many officially joined the newly formed Advisory Boards (see below for the complete list), and all will partner on future Stern Solutions projects. The inaugural classes for the Tech MBA and Fashion & Luxury MBA will enroll at Stern in May 2018. Students will take 51 credits over 12 months and earn an MBA degree from Stern in one year. “Stern’s Tech MBA and Fashion & Luxury MBA are intentionally designed for a specific type of MBA candidate, one with a definitive career focus and a passion for these fields,” said Raghu Sundaram, Vice Dean for MBA Programs and Online Learning. “These new MBAs provide broad exposure to core business areas with a depth of focus on the specialty area through an efficient schedule, reducing the opportunity cost with a more affordable MBA option.” The Tech MBA is designed for business candidates with strong technology backgrounds. The program will prepare students to advance their careers in Product Management, FinTech and Tech Entrepreneurship across various industries. The program’s tech core was designed in partnership with NYU’s Courant Institute of Mathematical Sciences; NYU Stern is itself home to one of the largest faculty of computer and data scientists among business schools and will bring all these strengths to bear in the Tech MBA. Stern is the first US business school to offer a Fashion & Luxury MBA. Over the past several years, the fashion and luxury industries have increasingly acknowledged the competitive advantage of adding business-educated talent to their creative ranks especially in the face of technological disruption. This program is designed for students with a commitment to management roles throughout these sectors—accessories, apparel, beauty, jewelry, high-end automotive, fine wines and spirits, real estate, wearable tech and more. They will also have access to the Stern Fashion Lab, a new central hub being established for industry-related projects and networking for all Stern students. About New York University Stern School of Business New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation’s premier management education schools and research centers. NYU Stern, whose faculty includes three Nobel Laureates in Economics, offers a broad portfolio of programs at the graduate and undergraduate levels, all of them enriched by the dynamism, energy and deep resources of one of the world’s business capitals. Visit www.stern.nyu.edu and follow NYU Stern on Twitter: @NYUStern. Statements from Members of the NYU Stern Tech MBA and Fashion Lab Advisory Boards “In our line of work, there is an acute need for people who understand both business and technology. The Stern Tech MBA is primed to develop this type of talent.” -- Don Callahan, Head of Technology & Operations, Citigroup "Understanding how technology is reshaping our world is essential knowledge for any aspiring entrepreneur. NYU Stern’s new Tech MBA program combines immersive coursework in technology with the essential skills for people joining the business world to put those insights to use." -- Jared Cohen, Founder and CEO, Jigsaw; Advisor to the Executive Chairman of Alphabet Inc. “I'm thrilled to be working closely with Stern to help cultivate the next generation of tech leaders. The great work and inspired thinking of young people in technology has a tremendous impact on countless businesses across multiple industries – including the media industry – around the world.” -- Greg Coleman, President, BuzzFeed “Successful brands are constantly innovating their use of changing technology to attract and retain loyal customers. I believe Stern's new Tech MBA will help prepare future leaders to address that challenge, and bring technology and business strategy together in exciting and new ways.” -- Michelle Peluso, Chief Marketing Officer, IBM Corporation “I’m excited to serve on NYU Stern’s board and advise on how NYU’s top-tier business school can continue producing students who are at the forefront of tech and business. Stern alumni are adding tremendous value at companies like Amazon, and I’m looking forward to joining their board.” -- Maria Renz, Vice President Delivery Experience and Robotics, Amazon "To realize the full potential of the rapidly growing FinTech industry, we need to equip future business leaders with the skills necessary to drive innovation and impact at scale. Stern is taking an exciting and needed step with its new Tech MBA and FinTech program. Graduates of the program will undoubtedly be an important factor in shaping the future of the FinTech sector.” -- Dan Schulman, President and CEO, PayPal “Today’s business environment requires an appreciation and understanding for how technology can be applied to solve real business problems. We are pleased to partner with Stern on this innovative and practical approach to preparing the next generation of tech-savvy business leaders and entrepreneurs.” -- Umesh Subramanian, Co-head of the Technology Division, Goldman Sachs “NYU Stern’s new Tech MBA program will fulfill an unmet industry need by preparing the next generation of leaders to embrace technological change and the new opportunities that enables. Stern has always offered a unique experience blending business, technology and academic pursuits with the industry and culture of New York City. My time as a student at NYU was transformative for both my life and my career.” -- Jeff Teper, Corporate Vice President, Office, OneDrive & SharePoint at Microsoft "The world is filled with promising designers who start labels that fail because they lack the business acumen to transform their innovations into viable businesses. By developing business talent that understands the creative side, NYU Stern will help close this gap by encouraging the kind of collaboration upon which successful brands are built." -- Simon Collins, Former Dean, School of Fashion, Parsons School of Design; Founder, Fashion Culture Design Unconference “NYU Stern Fashion Lab will be a nexus for fashion brands, retailers and media to come together with students, faculty, designers, technologists and entrepreneurs during this time of incredible disruption, and will play a valuable role in the Fashion & Luxury MBA student experience.” -- Joseph Ferrara, Co-founder, NYU Stern Fashion Lab; Co-founder and Co-CEO, Resonance Companies; CEO, Ferrara Manufacturing Company "Our goal is to be a platform for dialog, learning and action for the innovators who will embrace and drive future changes in the fashion industry." -- Lawrence Lenihan, Co-founder, NYU Stern Fashion Lab; Co-founder and Co-CEO, Resonance Companies; Founder, FirstMark Capital
News Article | May 9, 2017
ROCHESTER, N.Y.--(BUSINESS WIRE)--Eastman Kodak Company (NYSE:KODK) today reported financial results for the first quarter 2017, delivering net earnings of $7 million and continued strong growth in its KODAK SONORA Process Free Plates, KODAK FLEXCEL NX Packaging and KODAK PROSPER Inkjet businesses. “I’m pleased with our continued profitability and by the strong performance of our growth engines — SONORA Plates, FLEXCEL NX Packaging and the PROSPER Inkjet business” said Jeff Clarke, Kodak Chief Executive Officer. “We expect continued strong execution in these growth businesses, which will continue to increase our quality of earnings.” Revenues in the first quarter of 2017 were $357 million, a 5 percent decline from the first quarter of 2016 or 4 percent on a constant currency basis. The decrease was primarily driven by pricing pressures in the pre-press plates business and the expected continued decline in legacy consumer inkjet printer cartridge sales. Partially offsetting these impacts was growth in PROSPER annuities, SONORA Plates and FLEXCEL NX Plates. GAAP net earnings were $7 million for the quarter ended March 31, 2017, an improvement of $22 million compared with the first quarter 2016. The company delivered first quarter Operational EBITDA of $8 million, consistent with the company’s expectations but down $11 million compared with the first quarter of 2016, or $9 million on a constant currency basis. The company ended the quarter with a cash balance of $378 million, down $56 million from the December 31, 2016 balance of $434 million. “The increased use of cash in the first quarter compared with the prior year is consistent with our expectations” said David Bullwinkle, Kodak Chief Financial Officer. “Our higher use of cash in Q1 2017 primarily reflects an increased seasonal build of inventory, year-over-year reduction in Operational EBITDA and non-recurring items last year. In total for the remaining 9 months of 2017, we expect to generate cash.” Print Systems Division (PSD), Kodak’s largest division, had Q1 revenues of $213 million, an 8 percent decline compared with Q1 2016. Operational EBITDA for the quarter was $13 million, a 28 percent decline compared with the same period a year ago. The decline was due primarily to pricing pressures in digital plates. For the quarter, the KODAK SONORA Plates line delivered strong performance, with volume increasing by 24 percent compared with the same period a year ago. Total year-over-year plate volume remained stable, due to SONORA Plates growth and the success of new products, including SONORA UV Process Free Plates. Enterprise Inkjet Systems Division (EISD), including the KODAK VERSAMARK and KODAK PROSPER businesses, had Q1 revenues of $37 million, compared with $34 million in the same period in 2016, an increase of 9 percent. Operational EBITDA was negative $1 million, an improvement of $4 million compared with Q1 of 2016. On a constant currency basis, operational EBITDA improved by $5 million. For the first quarter of 2017 the PROSPER business continued to deliver improved performance with year-over-year annuity growth of 26 percent. In April, Kodak also announced it will continue to invest in its next-generation ULTRASTREAM inkjet writing technology, and expects products built with ULTRASTREAM technology to go to market in 2019. The newly established Flexographic Packaging Division (FPD) includes KODAK FLEXCEL NX Systems and Plates as well as other packaging businesses, which include SR and letterpress plates, proofing products and services. FPD had strong performance for the quarter, driven by consistent growth in KODAK FLEXCEL NX Plates. Revenues for Q1 were $33 million, an increase of $4 million or 14 percent over the same period a year ago. Operational EBITDA was $6 million, an increase of $2 million compared with the first quarter of 2016. In April, Kodak commenced the $15 million expansion of its Weatherford, Oklahoma manufacturing facility to accommodate the production of KODAK FLEXCEL NX Plates. For the quarter, FLEXCEL NX revenues were $24 million, a 19 percent improvement over the prior-year period and FLEXCEL NX Plate volume continued to deliver strong growth in all regions, increasing by 22 percent year over year. Software and Solutions Division (SSD) delivered Q1 revenues of $21 million, down from $22 million in the same period last year. Operational EBITDA was $1 million, down $1 million compared with the prior-year period. Consumer and Film Division (CFD) revenues for Q1 were $49 million, down 14 percent from $57 million in Q1 of 2016. Operational EBITDA declined from $7 million in the same period last year to negative $3 million, primarily driven by a $5 million revenue decline in consumer inkjet. Additionally, the prior year included $3 million related to the fulfillment of motion picture film commitments. The newly established Advanced Materials and 3D Printing Technology Division (AM3D) represents Kodak’s research lab and associated new business opportunities including touch sensor films with copper mesh technology and intellectual property licensing not directly related to other business divisions. AM3D had Operational EBITDA of negative $8 million, compared to negative $7 million for Q1 2016. The division continues to expand its efforts in developing new materials for 3D printing and light-blocking materials. In Micro 3D printing, the division continued to progress favorably with several customer technical evaluations of touch sensors for industrial designs. Eastman Business Park Division (EBP) had revenues of $4 million, flat with revenues for the first quarter 2016. Operational EBITDA was flat compared with the same period a year ago. During the quarter, the division signed lease agreements with the Park’s first photonics company tenant and an energy storage company. Kodak is a technology company focused on imaging. We provide – directly and through partnerships with other innovative companies – hardware, software, consumables and services to customers in graphic arts, commercial print, publishing, packaging, electronic displays, entertainment and commercial films, and consumer products markets. With our world-class R&D capabilities, innovative solutions portfolio and highly trusted brand, Kodak is helping customers around the globe to sustainably grow their own businesses and enjoy their lives. For additional information on Kodak, visit us at kodak.com, follow us on Twitter @Kodak, or like us on Facebook at Kodak. This press release includes “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning Kodak’s plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. When used in this press release, the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “predicts,” “forecasts,” “strategy,” “continues,” “goals,” “targets” or future or conditional verbs, such as “will,” “should,” “could,” or “may,” and similar expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. All forward-looking statements, including management’s examination of historical operating trends and data, are based upon Kodak’s expectations and various assumptions. Future events or results may differ from those anticipated or expressed in the forward-looking statements. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodak’s Annual Report on Form 10-K for the year ended December 31, 2016 under the headings “Business,” “Risk Factors,” “Legal Proceedings” and/or “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources,” in the corresponding sections of Kodak’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodak’s ability to improve and sustain its operating structure, cash flow, profitability and other financial results; the ability of Kodak to achieve cash forecasts, financial projections, and projected growth; Kodak’s ability to achieve the financial and operational results contained in its business plans; Kodak’s ability to fund continued investments, capital needs and restructuring payments and service its debt and Series A Preferred Stock; Kodak’s ability to comply with the covenants in its various credit facilities; Kodak’s ability to discontinue, sell or spin-off certain businesses or operations or otherwise monetize assets; changes in foreign currency exchange rates, commodity prices and interest rates; Kodak’s ability to effectively anticipate technology trends and develop and market new products, solutions and technologies; Kodak’s ability to effectively compete with large, well-financed industry participants; continued sufficient availability of borrowings and letters of credit under Kodak’s revolving credit facility, Kodak’s ability to obtain additional financing if and as needed and Kodak’s ability to provide or facilitate financing for its customers; the performance by third parties of their obligations to supply products, components or services to Kodak; and the impact of the global economic environment on Kodak. There may be other factors that may cause Kodak’s actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. In this first quarter 2017 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. Kodak’s segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (“Operational EBITDA”). The change in revenues and Operational EBITDA on a constant currency basis, as presented in this financial results news release, is calculated by using average foreign exchange rates for the three months ended March 31, 2016, rather than the actual exchange rates in effect for the three months ended March 31, 2017. This press release also contains a forward-looking estimate of full-year 2017 Operational EBITDA. Kodak is unable to provide a reconciliation of full-year 2017 Operational EBITDA to a forward-looking estimate of GAAP net income / loss because projected GAAP net income / loss for the full year would require inclusion of the projected impact of future excluded items, including items that are not currently determinable or dependent on future events which may be uncertain or outside of Kodak’s control, such as asset impairments, foreign exchange gains / losses, unanticipated items not reflective of ongoing operations, or other items. Due to the uncertainty of the likelihood, amount and timing of any such items, Kodak does not have information available to provide a quantitative reconciliation of full-year 2017 projected net income / loss to an Operational EBITDA projection. The following table reconciles the most directly comparable GAAP measure of Net Earnings (Loss) Attributable to Eastman Kodak Company to Operational EBITDA and Operational EBITDA on a constant currency basis for the three months ended March 31, 2017 and 2016, respectively: The following table reconciles the most directly comparable GAAP measure of Net Earnings Attributable to Eastman Kodak Company to 2016 Comparable Operational EBITDA for the twelve months ended December 31, 2016: The following table reconciles the most directly comparable GAAP measure of Consumer and Film Division Operational EBITDA (Segment Measure) to the expected decline in Consumer Inkjet Business Operational EBITDA: The following tables reconcile the most directly comparable GAAP measure of Operational EBITDA (Segment Measure) to Operational EBITDA before Corporate Cost for each Division for the three months ended March 31, 2017 and 2016, respectively: The notes accompanying the Company’s first quarter 2017 Form 10-Q are an integral part of these consolidated financial statements. The notes accompanying the Company’s first quarter 2017 Form 10-Q are an integral part of these consolidated financial statements.
News Article | May 15, 2017
CRESCO, PA--(Marketwired - May 15, 2017) - Net Savings Link, Inc. ( : NSAV) announced today that the Company's Medical Cannabis Technology Division has officially opened its location in Shanghai, China. The Company views this as a major opportunity to expand its medical cannabis technology business in the world's largest city and second largest consumer market, as China is the world's largest producer of cannabis sativa seeds, accounting for nearly 40% of global production. NSAV will be accompanied in this project by its joint venture partner, AMC Shanghai. AMC is an international health care group, whose Medical Care and Insurance Division already has several projects under development with NSAV. Photos of the Shanghai joint venture facility can be viewed on the NSAV corporate website. Last week NSAV announced that it has signed a definitive agreement to acquire world renowned Chinese medical software company, Shanghai-based Vital Strategic Research Institute (VSRI). VSRI is a medical research firm with a long history of expertise in design, clinical trials and global research. VSRI has collaborated with pharmaceutical giants such as Pfizer and Bristol-Myers Squibb. Under NSAV's guidance, VSRI will conduct extensive clinical research studies into the medical uses and benefits of cannabis and hemp related products. VSRI has websites in both English and Chinese. NSAV would also like to remind its shareholders of the June 1, 2017 record date for the Company's 10% dividend. James Tilton, president of NSAV, stated, "I am extremely pleased that our medical cannabis technology business now has a presence in China. Besides accounting for nearly 40% of the global production of cannabis sativa seeds, Chinese companies have 309 out of the 606 patents filed around the world that relate to cannabis. As one who has lived and worked in Shanghai, I can personally appreciate what an amazing city it is." NSAV's vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the medical cannabis industry, as well as other areas of the medical industry. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services, patents and trademarks and information technology. The NSAV corporate website can be accessed at http://netsavlink.com The NSAV Twitter account can be accessed at https://twitter.com/NSAV_MJTechCo The NSAV Facebook account can be accessed at https://www.facebook.com/Net-Savings-Link-Inc-768628693317257/ This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.
News Article | May 26, 2017
Evans brings 27 years of executive experience with various Siemens business units, including Siemens Transportation Systems, Inc., (STS) in Sacramento, where as vice president and chief financial officer he led a successful "Financial Excellence" program for the rolling stock manufacturing restructuring program that improved margins leading to a record order backlog, positive cash flow taking rolling stock profitability to double-digit percentages. In addition to the rolling stock division, he gained a working knowledge of advanced mail sorting machinery designed to improve throughput using optical scanning technology while also financially responsible for the Siemens Postal Automation and Airport Baggage Handling Divisions. This experience will be valuable when he is involved with Matheson's Flight Extenders, Postal Services and Mail Transportation Divisions. Evans was also director of business development in the STS Southeast region where he chaired a company team that developed a proposal for a seven-mile Houston Metro Light Rail Turnkey System from bid to contract award. Earlier, he led the establishment of a new project office in Puerto Rico to execute a $500M, five-year Tren Urbano transit project in San Juan Puerto Rico. As chief financial officer for Siemens AG Global Mobility Division in Berlin, Germany, a business unit providing turnkey public transportation solutions for the passenger rail industry, he held financial and contractual responsibility for over 30 projects in 20 countries. Most recently he served as vice president and general manager for the Western Region U.S. for Siemens Industry, Inc. Building Technology Division, offering energy efficiency and other solutions for the building automation industry. "I was attracted to Matheson for several reasons. It is a leading – and growing -- transportation firm with a significant footprint across America in more than two dozen large urban markets," Evans said. "My core personal and professional business values, experience and skills are closely aligned with the Matheson executive leadership team. Matheson's approach to providing world class service to its customers really impressed and attracted me to joining the team. In addition, I and my wife, Teresa, who is retired from the Elk Grove Elementary Unified School District, enjoy being a part of the Sacramento area where we can contribute to the local community and remain close to some of our five grown children." Matheson is a privately-held, family owned and operated company with headquarters in Sacramento, California. The company traces its roots to 1962 when Robert and Carole Matheson founded R. B. Matheson Trucking, Inc. in Clayton, California. Today the firm manages a fleet of tractors, trailers, and aircraft ground support equipment, as well as maintenance facilities throughout the U.S. The company is a diversified national transportation carrier proudly serving the United States Postal Service (USPS) since 1964. Matheson offers specialized hauling, time sensitive material handling and transportation, underwing airport operations, and terminal handling services (THS). As a business partner of the USPS, Matheson is committed to the belief that service must be reliable and convenient, and must improve continuously. The company takes pride in the fact that its service is consistently at or above the 99% performance level. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/matheson-inc-appoints-mark-e-evans-chief-financial-officer-300464754.html
News Article | June 26, 2016
In a roundtable discussion on the topic of encryption technology, FBI deputy assistant director James Burrell revealed that the bureau has a budget of "hundreds of millions of dollars" for the development of technology for national security and domestic law enforcement. The budget by the Operational Technology Division, which handles the FBI's investigative technology ranging from surveillance technology to robots, will soon inch closer to $1 billion. The Washington Post reported late last year that the division's budget is somewhere between $600 million and $800 million, and the FBI has requested for an additional budget of over $100 million for next year. The additional budget includes more than $85 million to improve the bureau's cyber offense and defense technologies and more than $38 million to be spent on a counter to encryption and other hurdles during FBI investigations. According to Burrell though, the budget of the division needs to be put into context. The resources of the Operational Technology Division are divided, with the tools being developed for investigations related to national security being different from those for domestic law enforcement. Burrell claims that the bureau is not able to use the technology used for one purpose for the other, due to the technology being classified. It can be remembered that the FBI paid over $1 million to a third-party company for the development of the hacking tool which was able to break into the encryption-protected iPhone owned by one of the shooters in the San Bernardino tragedy. While the amount is the highest publicized figure ever paid for a hacking tool, it would seem to hardly have made a dent on the budget of hundreds of millions of dollars of the bureau. The roundtable discussion, which was sponsored by the intelligence community, looked to spark discussion on the topic of encryption among scientists, tech officials, academics and developers. The meeting also aimed to come up with an answer on whether the authorities can be given access to secure devices without digital security being compromised. The workshop was hosted by the National Academies of Science, Technology and Medicine. Among the attendees were NSA former deputy director Chris Inglis, FBI top lawyer James Baker and officials from companies including Apple and Microsoft. Two months ago in April, the Supreme Court gave the FBI more hacking authority by allowing the judges in the United States to approve search warrants on PCs located in any jurisdiction. Previously, judges could only approve such search warrants within their jurisdiction. The move, however, can still be modified or rejected by Congress. © 2017 Tech Times, All rights reserved. Do not reproduce without permission.
News Article | December 5, 2016
Cambridge (UK), 5 December 2016 (18.00 CET): Global Graphics (Euronext: GLOG) the developers of software for digital printing including the Harlequin RIP®, announces today that it has acquired the entire issued share capital of TTP Meteor Limited ("Meteor"), specialists in printhead driver systems, from the TTP Group plc ("TTP") based near Cambridge, UK. Meteor enables industrial inkjet, graphic arts and commercial printing applications through the provision of world-leading drive electronics and software. Through strong relationships with industrial inkjet printhead manufacturers including Fujifilm Dimatix, Konica Minolta, Kyocera, Ricoh, SII Printek, Toshiba TEC and Xaar, Meteor supplies production-ready electronics and software to print equipment manufacturers world-wide. TTP has been involved in developing leading edge printing technologies since 1987. From 2006, printhead drive electronics have been supplied under the Meteor brand. With this acquisition, Meteor becomes a wholly-owned subsidiary of Global Graphics SE. Meteor will operate as an independent, standalone entity and will continue to be led by Clive Ayling who has developed Meteor into a successful business. It is expected that the company name will change from TTP Meteor Limited to Meteor Inkjet Limited. Gary Fry, Global Graphics' CEO said, "Meteor has established itself as an influential player in the inkjet market and has a deep understanding of the science and engineering underpinning digital printing. This acquisition is strategically important for Global Graphics because it means we can offer a broader solution to inkjet press manufacturers by combining our software solutions with Meteor's industrial printhead driver solutions. "Healthy growth is predicted for the inkjet segment of digital printing where there continues to be a vast amount of innovation as jetting technology is applied to an increasingly diverse range of applications such as ceramics, textiles or décor. Global Graphics is already emerging as an important partner to the industry's leading manufacturers and Meteor adds to our capability, making us a very compelling proposition in the market. We already share joint customers and our goal is to substantially grow this base." Clive Ayling, Meteor's managing director said, "Meteor has an established record of success in delivering robust and reliable printhead driving solutions for a myriad of applications. Global Graphics values this success and recognizes the importance of our independence in delivering the diverse range of solutions our customers require. We are looking forward to working with Global Graphics to accelerate the growth of our business whilst we continue to deliver the world-class products and support that our customers have come to expect." Rob Day, TTP's head of print technology said, "having nurtured Meteor through its initial technology and IP development phase into a mature and profitable business, we are delighted to see it become a subsidiary of Global Graphics. There is immense strategic synergy between the two companies. This will allow the Meteor team to broaden its offering to existing customers, and accelerate the acquisition of new ones. TTP's Print Technology Division will continue to develop novel printing systems and print technology, and looks forward to working with Meteor's products in future systems integration projects." Consideration for the acquisition is £1.2 million in cash followed by a maximum deferred consideration of £3.6 million. The deferred consideration is payable in cash and is contingent on revenue during the ten year period from 6 December 2016 until 31 December 2026. For the year ended 31 March 2016, Meteor generated sales of £2.5 million and a loss before tax of £0.2 million. For the eight months ended 25 November 2016 Meteor's management accounts showed sales of £2.5 million and a profit before tax of £0.3 million. The acquisition is expected to be earnings enhancing in the financial year ending 31 December 2017. About Global Graphics Global Graphics (Euronext: GLOG) http://www.globalgraphics.com is a leading developer of software platforms on which our partners create solutions for digital printing, digital document and PDF applications. Customers include HP, Corel, Quark, Kodak and Agfa. The roots of the company go back to 1986 and to the iconic university town of Cambridge, and, today the majority of the R&D team is still based near here. There are also offices near Boston, Massachusetts and in Tokyo. About Meteor With offices near Cambridge, Meteor (http://www.meteorinkjet.com) is the leading independent supplier of industrial inkjet printhead driving solutions. Working closely with all major industrial inkjet printhead manufacturers, Meteor supplies production-ready electronics and software to printer OEMs and print system integrators world-wide. About TTP The Technology Partnership plc (TTP) is a world-leading technology and product development company. TTP works closely with its partners to create new business based on advances in technology and engineering innovation. TTP's technology lies behind many products and processes in areas as diverse as biotechnology, medical devices, instrumentation, communications, digital printing, consumer & industrial products, cleantech and security systems. Contact: Rob Day, Print Technology Group Manager, firstname.lastname@example.org. Harlequin, the Harlequin logo, the Harlequin RIP, are trademarks of Global Graphics Software Limited which may be registered in certain jurisdictions. Global Graphics is a trademark of Global Graphics S.E. which may be registered in certain jurisdictions. All other brand and product names are the registered trademarks or trademarks of their respective owners.
News Article | March 1, 2017
NASA has funded ORNL and other national laboratories to develop a process that will restore US production capability of Pu-238 for the first time since the late 1980s when the Savannah River Plant ceased production. ORNL has produced and separated about 100 grams of the material and plans to scale up the process over the next several years to meet demand to power NASA deep space missions. "We are bringing together multiple disciplines across ORNL to achieve this automation and ramp up so that we can supply Pu-238 for NASA," said Bob Wham, who leads the project for the lab's Nuclear Security and Isotope Technology Division. The Pu-238 is produced from neptunium-237 feedstock provided by Idaho National Laboratory. Workers at ORNL mix neptunium oxide with aluminum and press the mixture into high-density pellets. The new automated measurement system robotically removes the Np-237 pellets from their holding tray, and measures their weight, diameter, and height. "We're excited to go from making these measurements by hand to just pressing a 'GO' button," said Jim Miller, a scientist in the Fusion & Materials for Nuclear Systems Division who is employing the new system. "About 52 Np-237 pellets can be measured per hour using the new automated measurement system," Miller said. Pellets meeting specifications, as determined by the new automated measurement system, are placed in a cassette that moves to another location for loading into a hollow aluminum tube that is hydrostatically compressed around the pellets. The Np-237 pellets loaded in the hollow aluminum tube later enter the High Flux Isotope Reactor (HFIR), a Department of Energy Office of Science User Facility at ORNL, where they are irradiated, creating Np-238, which quickly decays and becomes Pu-238. The irradiated pellets are then dissolved, and ORNL staff use a chemical process to separate the plutonium from any remaining neptunium. Purified plutonium is converted back to an oxide powder, packaged, and shipped to Los Alamos for final processing. Plans are for initial production of 400 grams Pu-238 per year on average at ORNL and then to increase that quantity through additional automation and scale-up processes. Several ORNL researchers contributed to the automated measurement system. Alan Barker was the software architect, enhancing early work performed by others on the system and serving as technical lead to finish the project. Richard Wunderlich further developed the software to professional grade with an emphasis on making it more robust, usable, and maintainable. Michelle Baldwin also provided programming expertise, including software quality assurance, verification, and validation. David West was the hardware architect, overseeing configuration tasks within the glovebox and making sure the system is safe and functional in a radioactive environment. Tim McIntyre was the project manager. Project challenges included fitting the system into a glovebox that was only about 6 feet wide and 3 feet deep, and designing the system to be easy for workers to manipulate, maintain, and repair, McIntyre said. In another project funded by NASA, Miller said the lab is working to automate the creation of the target neptunium/aluminum pellets. Miller also pointed to the collaborative nature of the automation development work at the lab. "I have a background in materials science, the EESR people have the electrical and robotics background, and others like the staff in the NSITD have a chemical engineering background. None of us individually could get this done," he said. The next NASA mission planning to use a radioisotope thermoelectric generator fueled by Pu-238 is the Mars 2020 rover, scheduled for launch in July 2020. The mission will seek signs of life on Mars, test technology for human exploration, and gather samples of rocks and soil that could be returned to Earth. In the future, newly produced Pu-238 from ORNL will fuel these kinds of missions. NASA announced this week that is has accepted a small quantity of the new heat source for use on the rover.
News Article | February 15, 2017
Friedrichshafen/Lebring (Austria), 15-Feb-2017 — /EuropaWire/ — With Active Kinematics Control (AKC), ZF has become a market leader for active rear axle steering (RAS) in passenger cars and is constantly expanding its offering. The company has now produced more than 100,000 units – just four years after starting volume production of its AKC system for two exclusive sports car models. Seven premium vehicle manufacturers meanwhile enjoy the benefits of this ZF chassis innovation in volume production. The technology helps electric or conventional passenger cars become significantly safer, more dynamic, maneuverable and comfortable. Automated and autonomous driving are deemed to be considerable growth drivers for ZF’s AKC system in future. “Our production milestone of 100,000 AKC systems is a huge success in four different respects,” says Dr. Holger Klein, Executive Vice President of the Car Chassis Technology Division at ZF. “First of all, it illustrates that our innovation allows almost any vehicle to benefit relatively easily from active rear axle steering. Secondly, ZF cements its position as market leader and technology leader in this product segment. Thirdly, every AKC unit installed depicts the forward-looking potential of intelligent mechanical systems in the automotive industry. And last but not least, this milestone highlights the exemplary transformation of the ZF production location in Lebring.” The site, which is located near to Graz, quickly transformed from an axle assembly plant to a hub for high-tech mechatronics. It is currently the company’s only AKC production site and has allowed for the creation of a number of new jobs. Two concepts for different axle designs The 100,000 AKC systems produced to date include 60,000 central actuator systems and 40,000 dual-actuator systems. The latter always have two actuators, one on each rear wheel. This version celebrated its premiere in series production in 2013 in the Porsche 911 Turbo and 911 GT3 models. The Ferrari GTC4Lusso also carries the dual-actuator version. Other vehicles, such as the recent Porsche Panamera, feature the AKC version with a single, larger actuator, which is located in the middle of the rear axle. This system also helps steer the rear of SUVs like the Audi Q7 and sedans like the Cadillac CT6 and the BMW 7 Series. So the AKC system still has a way to go before reaching the limits of its application spectrum. In the near future, the ZF system should find its place in many more models with a growing number of manufacturers including pick-up trucks and compact cars. AKC can be combined with every type of drive system – from conventional internal combustion engines to hybrids and all-electric systems. The general operating principle remains the same: When driving slowly through narrow streets, AKC steers contrary to the front wheels’ steering angle and generates a higher yaw rate for the vehicle. This can reduce the turning radius by up to ten percent, so a passenger car becomes substantially easier to maneuver. At higher speeds, i.e. about 60 km/h and above, as well as during obstacle-avoidance maneuvers for example, the system steers the rear wheels in the same direction as the front wheels which improves directional stability and driving dynamics. Ready for the car of tomorrow The steady growth in demand for AKC from OEMs is also based on the fact that the active rear track adjustment serves all current and upcoming megatrends in the automotive industry: It greatly improves safety, especially in critical driving situations and when braking. Additionally, it is highly efficient “by wire” as well as based on the “power on demand” principle. Furthermore, AKC supports automated driving and the necessary system redundancy, as it can even partially steer a vehicle without turning the front wheels. Consequently, ZF has set high sales expectations for this product. “In 2014, the first full production year, approximately 12,000 AKC systems left our production lines and over 100,000 units have been produced to date. In the coming years, we plan to increase production volumes to more than 250,000 units per year,” says Peter Buckermann, Head of the Mechatronic Systems Product Line.
News Article | December 15, 2016
NEEDHAM, Mass.--(BUSINESS WIRE)--PTC (NASDAQ: PTC) today announced that ZF Friedrichshafen AG will implement PTC’s Windchill® PLM (product lifecycle management) and PTC IntegrityTM ALM (application lifecycle management) enterprise solutions across all divisions. ZF also has procured PTC’s ThingWorx® IoT technology platform starter kit. This selection of PTC technology will support the global player in continuing its digital transformation journey. ZF is a leader in driveline and chassis technology as well as active and passive safety technology. The company acquired TRW Automotive in 2015, which was then integrated within the organization as the Active & Passive Safety Technology Division. The combined company has a global workforce of around 135,000 with approximately 230 locations in some 40 countries. ZF is one of the largest automotive suppliers worldwide. ZF determined it would need to adopt PLM and ALM enterprise solutions across all divisions to enable the company to digitally transform its business, improve systems engineering, and support global production. ZF undertook a broad and extensive benchmarking process that began with defining and analyzing its business processes and use cases. After close scrutiny of competitive systems, ZF was convinced the PTC solutions were the best fit and the best technology to address its future business challenges. One decisive factor for its selection was the new functionality provided by PTC Navigate™, a customizable user interface for PLM that provides flexible access to enterprise-wide product data, including ALM information. ZF also selected various PTC packages such as Requirements & Validation and Global Software Development to support its systems engineering work. PTC solutions enable ZF to take a multi-discipline approach to digital product traceability, enabling a consistent Bill of Materials (BoM) across the enterprise. The ThingWorx starter package will enable ZF to support its digitization strategy and standardize its IoT platform for a smart, connected future. All PTC solutions are offered in a subscription license model, which offers companies the flexibility to adjust software volume based on need. ZF will leverage PTC Professional Services to deploy and adopt PTC’s enterprise solutions. “ZF’s selection of PTC technology to drive its digital transformation demonstrates the strategic importance of adopting solutions that provide closed-loop lifecycle management,” said Kevin Wrenn, divisional general manager, PLM segment, PTC. “We look forward to accompanying ZF on its journey.” The announcement of any particular selection of PTC software is not necessarily indicative of the timing of recognition of revenue there from or the amount of revenue for any particular period. In addition, in many cases PTC’s software must be successfully implemented and deployed to enable the customer to achieve its business objectives. The announcement of a customer’s selection of PTC software does not indicate that applicable implementation and deployment activities are complete. About ZF ZF is a global leader in driveline and chassis technology as well as active and passive safety technology. The company acquired TRW Automotive on May 15, 2015, which was then integrated within the organization as the Active & Passive Safety Technology Division. The combined company reported sales of €29.2 billion in 2015 and now has a global workforce of around 135,000 with approximately 230 locations in some 40 countries. ZF annually invests approximately five percent of its sales in Research & Development (€1.4 billion in 2015) ensuring continued success through the design and engineering of innovative technologies. ZF is one of the largest automotive suppliers worldwide. About PTC (NASDAQ: PTC) PTC has the most robust Internet of Things technology in the world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based PLM. Now our leading IoT and AR platform and field-proven solutions bring together the physical and digital worlds to reinvent the way you create, operate, and service products. With PTC, global manufacturers and an ecosystem of partners and developers can capitalize on the promise of the IoT today and drive the future of innovation. PTC, Windchill, PTC Integrity, ThingWorx, Navigate, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.
News Article | March 1, 2017
March 1, 2017 - Under a collaborative partnership between the National Aeronautics and Space Administration and the Department of Energy, a new automated measurement system developed at DOE's Oak Ridge National Laboratory will ensure quality production of plutonium-238 while reducing handling by workers. NASA has funded ORNL and other national laboratories to develop a process that will restore U.S. production capability of Pu-238 for the first time since the late 1980s when the Savannah River Plant ceased production. ORNL has produced and separated about 100 grams of the material and plans to scale up the process over the next several years to meet demand to power NASA deep space missions. "We are bringing together multiple disciplines across ORNL to achieve this automation and ramp up so that we can supply Pu-238 for NASA," said Bob Wham, who leads the project for the lab's Nuclear Security and Isotope Technology Division. The Pu-238 is produced from neptunium-237 feedstock provided by Idaho National Laboratory. Workers at ORNL mix neptunium oxide with aluminum and press the mixture into high-density pellets. The new automated measurement system robotically removes the Np-237 pellets from their holding tray, and measures their weight, diameter, and height. "We're excited to go from making these measurements by hand to just pressing a 'GO' button," said Jim Miller, a scientist in the Fusion & Materials for Nuclear Systems Division who is employing the new system. "About 52 Np-237 pellets can be measured per hour using the new automated measurement system," he added. Pellets meeting specifications, as determined by the new automated measurement system, are placed in a cassette that moves to another location for loading into a hollow aluminum tube that is hydrostatically compressed around the pellets. The Np-237 pellets loaded in the hollow aluminum tube later enter the High Flux Isotope Reactor, a DOE Office of Science User Facility at ORNL, where they are irradiated, creating Np-238, which quickly decays and becomes Pu-238. The irradiated pellets are then dissolved, and ORNL staff use a chemical process to separate the plutonium from any remaining neptunium. Purified plutonium is converted back to an oxide powder, packaged and shipped to Los Alamos for final processing. Plans are for initial production of 400 grams Pu-238 per year on average at ORNL and then to increase that quantity through additional automation and scale-up processes. Several ORNL researchers contributed to the automated measurement system. Alan Barker was the software architect, enhancing early work performed by others on the system and serving as technical lead to finish the project. Richard Wunderlich further developed the software to professional grade with an emphasis on making it more robust, usable and maintainable. Michelle Baldwin also provided programming expertise, including software quality assurance, verification and validation. David West was the hardware architect, overseeing configuration tasks within the glovebox and making sure the system is safe and functional in a radioactive environment. Tim McIntyre was the project manager. Project challenges included fitting the system into a glovebox that was only about 6 feet wide and 3 feet deep, and designing the system to be easy for workers to manipulate, maintain and repair, McIntyre said. In another project funded by NASA, Miller said the lab is working to automate the creation of the target neptunium/aluminum pellets. Miller also pointed to the collaborative nature of the automation development work at the lab. "I have a background in materials science, the Electrical and Electronics Systems Research Division people have the electrical and robotics background, and others like the staff in the NSITD have a chemical engineering background. None of us individually could get this done," he said. The next NASA mission planning to use a radioisotope thermoelectric generator fueled by Pu-238 is the Mars 2020 rover, scheduled for launch in July 2020. The mission will seek signs of life on Mars, test technology for human exploration, and gather samples of rocks and soil that could be returned to Earth. In the future, newly produced Pu-238 from ORNL will fuel these kinds of missions. NASA announced this week that is has accepted a small quantity of the new heat source for use on the rover. UT-Battelle manages ORNL for DOE's Office of Science. The Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit http://science. .