News Article | April 19, 2017
STOCKHOLM, 19-Apr-2017 — /EuropaWire/ — Monica Quinteiro has been appointed as the new General Manager of Boliden Rönnskär. Monica joins Boliden from a position as General Manager at LKAB in Svappavaara and will take up her new position on 21 August 2017. Monica has an M.Sc. in Geotechnology from Luleå University of Technology and an M.Sc. in Mining Engineering from the Colorado School of Mines. She has over 20 years’ experience of operational and corporate management at LKAB. In addition to her experience of mining and refining operations, Monica also has extensive experience in such areas as health and safety, technology/R&D, and environmental and sustainability work. “Monica’s in-depth and wide-ranging experience in the industry gives me every confidence as we take the next step forward in Rönnskär’s development,” says Kerstin Konradsson, President Boliden Smelters. When Monica takes up her new position at Boliden Rönnskär, the current General Manager, Åke Roos will switch to a new role as Product Manager for by-products, with technical responsibility for both existing by-products and the development of new ones. For further information, please contact: Boliden is a metals company with a commitment to sustainable development. Our roots are Nordic, but our business is global. The company’s core competence is within the fields of exploration, mining, smelting and metals recycling. Boliden has a total of approximately 5,500 employees and a turnover of SEK 40 billion. Its shares is listed on NASDAQ OMX Stockholm, segment Large Cap. www.boliden.com
News Article | December 19, 2016
STOCKHOLM, Sweden, Dec. 19, 2016 /PRNewswire/ -- LKAB's new open-pit mine Mertainen outside Svappavaara will not be taken into production. The prevailing situation in the market means that the mine will be mothballed until circumstances change. Mertainen is one of three open-pit mines in the Svappavaara field which together were to increase LKAB's delivery capacity. The decision to invest was taken in 2010, a time of high prices for coarse iron ore fines – a product to which the deposits in Mertainen are well suited. "The market has changed in recent years. The products from Mertainen cannot be made profitable at the moment. We are therefore focusing on the Leveäniemi and Gruvberget open-pit mines in Svappavaara and leaving Mertainen dormant until the market conditions change," says Jan Moström, LKAB's President and CEO. LKAB's strategy to maximize pellet production remains and demand for processed iron ore products is strong. Prices for the processed products have also developed positively during the year. "The facilities in Mertainen will be kept in a condition such that we are able to start production at just a few months' notice. We are thus ready for any change in the demand for coarse fines. The global need for steel, and therefore for iron ore, will basically continue for a long time to come," says Jan Moström. As a consequence of the decision, LKAB's Board of Directors has also decided to write down the value of LKAB's assets by MSEK 1200, which will impact earnings for the fourth quarter. This information was brought to you by Cision http://news.cision.com http://news.cision.com/lkab/r/mertainen-is-mothballed,c2152741 The following files are available for download:
News Article | April 4, 2016
« Tesla Model 3 updates: 276K reservations through Saturday; a few tech details | Main | SSAB, LKAB and Vattenfall launch long-term initiative for CO2-free ironmaking for steel production » Toyota is launching a new company—Toyota Connected, Inc.—to significantly expand the company’s capabilities in the fields of data management and data services development. The new company will serve as a data science hub for Toyota’s global operations and will support a broad range of consumer-, business- and government- facing initiatives. The company intends to leverage the power of data science through Microsoft’s Azure cloud technology to develop predictive, contextual, and intuitive services that help to humanize the driving experience while pushing the technology into the background. Toyota Connected will help free our customers from the tyranny of technology. It will make lives easier and help us to return to our humanity. From telematics services that learn from your habits and preferences, to use-based insurance pricing models that respond to actual driving patterns, to connected vehicle networks that can share road condition and traffic information, our goal is to deliver services that make lives easier. —Zack Hicks, CEO of Toyota Connected and Chief Information Officer at Toyota Motor North America Based in Plano, TX, Toyota Connected will launch with two mandates: delivering seamless and contextual services; and using cutting-edge data analytics to support product development for customers, dealers, distributors, and partners. In support of these goals, the new company will consolidate Toyota initiatives in data center management, data analytics, and data-driven services development. In addition, the new company builds on Toyota’s existing partnership with Microsoft to accelerate R&D efforts and to deliver new connected car solutions and elevated customer experiences. Microsoft engineers will work with Toyota Connected in their new facility, providing continuous support across technology areas and leveraging a broad range of data analytics and mobile programs. Toyota Connected will adopt Microsoft’s Azure cloud computing platform, employing a hybrid solution globally. Toyota Connected’s structure builds on Toyota Motor Corporation’s global re-organization into product-based companies, and will focus on expanding Toyota’s work in connected and data science technologies. (Earlier post.) Toyota Motor Corporation Senior Managing Officer Shigeki Tomoyama will be Chairman, with Toyota Motor North America Chief Information Officer Zack Hicks serving as Chief Executive Officer. The structure will allow Toyota Connected to centralize company initiatives across a broad range of emerging technology fields, ensuring that the common focus of all of them is the customer. Program areas will include in-car services and telematics; home/IoT connectivity; personalization; safety; smart city integration; and a broad range data services for Toyota affiliates, its dealers; fleet services and more. At launch, Toyota Connected is already providing a range of data and computer science services across Toyota’s operations, including support for ongoing research into artificial intelligence and robotics and the Toyota Research Institute.
News Article | April 4, 2016
« SSAB, LKAB and Vattenfall launch long-term initiative for CO2-free ironmaking for steel production | Main | Kapsch TrafficCom acquires Schneider Electric Transportation Business » The average fuel economy (window-sticker value) of new vehicles sold in the US in March 2016 was 25.3 mpg (9.29 l/100km)—unchanged from the revised value for February 2016, according to the latest monthly report from Dr. Michael Sivak and Brandon Schoettle at the University of Michigan Transportation Research Institute (UMTRI). Fuel economy is down 0.5 mpg from the peak reached in August 2014, but still up 5.2 mpg since October 2007. The University of Michigan Eco-Driving Index (EDI)—an index that estimates the average monthly emissions of greenhouse gases generated by an individual US driver—was 0.84 in January 2016, up 0.01 from the revised value for December 2015 (the lower the value the better). This value indicates that the average new-vehicle driver produced 16% lower emissions in January 2016 than in October 2007, but 6% higher emissions than the record low reached in August 2014. The EDI takes into account both vehicle fuel economy and distance driven (the latter relying on data that are published with a two-month lag).
News Article | April 4, 2016
« Toyota launches new company to focus on software- and data-driven mobility | Main | UMTRI: average US new vehicle fuel economy in March unchanged from February » Swedish-Finnish steel company SSAB, mining company LKAB and power company Vattenfall have launched an initiative to develop a steel production process that emits water rather than carbon dioxide. The aim of the HYBRIT (Hydrogen Breakthrough Ironmaking Technology) project is to reduce carbon dioxide emissions from ironmaking to zero by eliminating the need to use fossil fuel for iron ore reduction. The idea is to replace the blast furnaces with an alternative process, using hydrogen produced from “clean” electricity. SSAB says that its existing production system is already one of the world’s most efficient in terms of carbon dioxide emissions; nevertheless, existing steelmaking technology using coke plants and blast furnaces means SSAB is Sweden’s largest single source of carbon dioxide emissions. Steelmaking starts with the processing of iron ore (Fe O ) into molten iron. Blast furnace ironmaking or any ironmaking process requires more energy and releases more CO than any other process to produce steel. The reduction of Fe O (iron ore) to Fe (iron) is by far the most energy-intensive step. The direct reduction method of ironmaking (DRI) was originally developed to overcome some of the energy and emissions difficulties of conventional blast furnaces. Conventional direct reduced iron is produced by the reduction (removal of oxygen) of iron oxide lumps or pellets at 800-1050 °C—below the melting point of iron (1536 °C)—by interaction with reductants (H2+CO) derived from natural gas or coal. The specific investment and operating costs of direct reduction plants are low compared to integrated steel plants and are more suitable for many developing countries where supplies of coking coal are limited. The basic concept behind HYBRIT is to replace the reductants with hydrogen produced from “clean” electricity from Vattenfall. LKAB is already a world-leading producer of direct reduction iron ore pellets. Direct reduction pellets are very low gangue (commercially worthless material that surrounds ore) and rich in iron, giving high energy efficiency in the direct reduction process as well as in the following electric arc furnace process. The HYBRIT project has an almost 20-year timeline: The project will also mean a major contribution to a fossil-free Sweden. Implementation of the project will also require national contributions from the state, research institutions and universities over the next 20-25 years.
News Article | March 2, 2017
Veteran Technology Sales Executive to Drive Hedvig's Growth in the $7B Software-Defined Storage Market SANTA CLARA, CA--(Marketwired - Mar 2, 2017) - Hedvig today announced the appointment of Ediz Ertekin as senior vice president of worldwide sales and field operations. With nearly two decades of executive sales experience in the enterprise tech and business intelligence, analytics and integration markets, Ediz will lead the expansion of sales initiatives for Hedvig as the company scales to its next level of growth. He will oversee Hedvig's sales, pre- and post-sales engineering, and sales operation functions. "Hedvig launched two years ago with a mission to challenge traditional storage approaches. We're now providing our customers with a flexible, software-defined storage solution that addresses cloud and backup needs in a single platform," said Avinash Lakshman, CEO and founder at Hedvig. "Ediz's proven sales leadership of software, services and international operations will be key as we embark on our next phase of growth." Ediz is an accomplished leader in building both direct and indirect sales models. Prior to joining Hedvig, Ediz led European sales for data integration software provider Informatica where he led the organization to $70 million in revenue and an IPO. Since Informatica he has led several high-growth startups to the $25 million mark and has held sales leadership positions at Striim, SnapLogic, Verix and Celequest. "Today's businesses generate an astounding amount of data. We're in the midst of a cloud renaissance where a software-centric storage infrastructure is needed to deliver better business outcomes," said Ediz Ertekin, SVP of sales at Hedvig. "The Hedvig Distributed Storage Platform brings the agility and cost savings enterprises need in their journey to the public cloud. I'm thrilled to be part of a team that's introducing modern storage to a wide range of industries and look forward to contributing to Hedvig's ongoing success." Hedvig today also announced in a separate release that it has raised a $21.5M Series C funding round. New investors EDBI, the dedicated investment arm of the Singapore Economic Development Board, and Hewlett Packard Enterprises (HPE) join existing investors Atlantic Bridge Ventures, True Ventures, and Vertex Ventures. The proceeds from the round will help with Hedvig's expansion into Asia, advancing the development of end-to-end enterprise solutions and continuing to build world class engineering, sale, and channel teams. About Hedvig Hedvig provides software-defined storage for enterprises building private, hybrid, or multi-cloud environments. Hedvig is the only solution designed for both primary and secondary data, making it ideal for legacy, modern, and backup workloads. The Hedvig Distributed Storage Platform consolidates block, file, and object into a single, API-driven platform that keeps pace with ever-growing data needs. Our patented Universal Data Plane technology forms a distributed, scale-out cluster that transforms commodity servers or cloud computing into a flexible foundation for bare metal, hypervisor, and container infrastructure. Customers like BNP Paribas, DGC, LKAB, and Mazzetti rely on Hedvig as a fundamental enabler of digital business. For more information about Hedvig, visit www.hedviginc.com. Read our blog: http://hedviginc.com/blog Follow us on Twitter: https://twitter.com/hedviginc Like us on Facebook: https://www.facebook.com/hedviginc Learn more: http://www.hedviginc.com/press-kit
News Article | March 2, 2017
EDBI and Hewlett Packard Pathfinder Join Existing Investors to Accelerate Hedvig's Expansion into Asia, Advance Development of End-to-End Solutions and Continue Building a World-Class Team SANTA CLARA, CA--(Marketwired - Mar 2, 2017) - Hedvig today announced the close of a $21.5 million Series C funding round with new investments from Singapore-based EDBI and Hewlett Packard Pathfinder, part of Hewlett Packard Enterprise (HPE). The round also included expanded investments from Atlantic Bridge Ventures, including its Oman Technology Fund, and contributions from existing investors True Ventures and Vertex Ventures. With a total of $52 million in financing to date, Hedvig will use the latest round of funding to expand into new markets, develop end-to-end cloud and backup solutions for large enterprises and grow its world-class engineering, sales and channel teams. Additionally, to help lead Hedvig's growth in the $7 billion software-defined storage (SDS) market*, the company announced in a separate release that technology sales veteran Ediz Ertekin has joined the company's executive team as SVP of Worldwide Sales and Field Operations. "We've seen tremendous growth and traction from Hedvig since they launched in 2015. Their ability to attract customers ranging from blue-chip companies to large financial institutions like BNP Paribas is a testament to the quality of the product and support Hedvig offers," said Brian Long, managing partner at Atlantic Bridge. "Hedvig's strong vision for modern storage positions the company for clear leadership in the software-defined storage market, especially as enterprise use of public cloud continues to take hold." New strategic investments from EDBI and Hewlett Packard Enterprise will accelerate Hedvig's growth in key markets. With EDBI's support and Singapore as a focal point, Hedvig will expand its development and go-to-market resources across Asia Pacific. The region has shown a significant increase in SDS demand, and is expected to grow at a CAGR of 32 percent through 2022.** HPE's strategic investment will assist Hedvig in offering its leading-edge SDS solution to enterprises architecting hybrid IT. Milan Shetti, CTO of the Data Center Infrastructure Group at HPE, will serve as a technical advisor to Hedvig. "As cloud adoption gains traction in Asia, companies seek new storage solutions that could offer cloud-like agility, scalability and cost-efficiency to better manage their voluminous data," said Ms. Swee Yeok CHU, CEO and President of EDBI. "Hedvig's next-generation SDS platform allows enterprises to leverage multiple cloud storage options to perform computing tasks of varying complexity, hence providing the flexibility to meet their increasingly sophisticated data needs. Singapore's leading data hub position will be an ideal base for Hedvig to target the Asian market with EDBI's support." Seventy-five percent of businesses are forecasted to be digital businesses by 2020***. Many of these organizations are not only faced with the overwhelming cost of migrating to the cloud, but also the complexity of operating in the cloud. Hedvig eliminates storage bottlenecks associated with deploying a cloud strategy. Its Universal Data Plane approach enables businesses to simplify how they scale their virtual data center, efficiently store their primary and secondary data, and begin the shift of their data to the cloud. "All sectors of enterprise IT are being hit by new demands from the massive wave of emerging digital businesses. It's a wake-up call for the storage industry and a signal that a flexible, simple software-defined storage solution is needed for primary and secondary storage in the era of cloud," said Avinash Lakshman, founder and CEO of Hedvig. "This investment round is a testament to the hard work and dedication of the Hedvig team. We'll build on our early customer success in key financial services, service provider, manufacturing, energy and retail markets by continuing to innovate in both cloud and backup capabilities. With this latest investment, we are poised to grab the No. 1 spot in the fragmented software-defined storage market." *ReportsnReports, Global Software Defined Storage Market 2016-2020 **KBV Research, Asia-Pacific Software Defined Storage Market ***Gartner, Where Are You On The Digital Business Development Path? About Hedvig Hedvig provides software-defined storage for enterprises building private, hybrid, or multi-cloud environments. The Hedvig Distributed Storage Platform is the only solution designed for both primary and secondary data, making it ideal for legacy, modern, and backup workloads. It consolidates block, file, and object into a single, API-driven platform that keeps pace with ever-growing data needs. Hedvig's patented Universal Data Plane technology forms a distributed, scale-out cluster that transforms commodity servers or cloud computing into a flexible foundation for bare metal, hypervisor, and container infrastructure. Customers like BNP Paribas, DGC, LKAB, and Mazzetti rely on Hedvig as a fundamental enabler of digital business. For more information about Hedvig, visit www.hedviginc.com. Read our blog: http://hedviginc.com/blog Follow us on Twitter: https://twitter.com/hedviginc Like us on Facebook: https://www.facebook.com/hedviginc Learn more: http://www.hedviginc.com/press-kit
News Article | October 27, 2016
The operating profit was MSEK 273 (-6,951), with impairment losses of MSEK -7,136 on property, plant and equipment having been charged to earnings in the third quarter of 2015. The underlying operating profit(1) for the quarter was MSEK 762 (798). “LKAB´s third quarter saw stable production, increased delivery volumes and positive cash flow. Continued efficiency improvements and cost savings have had an effect, primarily as a result of measures to improve productivity in daily operations and mor
News Article | October 27, 2016
STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News: The operating profit was MSEK 273 (-6,951), with impairment losses of MSEK -7,136 on property, plant and equipment having been charged to earnings in the third quarter of 2015. The underlying operating profit(1) for the quarter was MSEK 762 (798). “LKAB´s third quarter saw stable production, increased delivery volumes and positive cash flow. Continued efficiency improvements and cost savings have had an effect, primarily as a result of measur
News Article | October 27, 2016
Rörelseresultatet uppgick till 273 (-6 951) Mkr, där nedskrivningar av anläggningstillgångar påverkade resultatet tredje kvartalet 2015 med -7 136 Mkr. Underliggande rörelseresultat(1) uppgick till 762 (798) Mkr för kvartalet. – LKAB:s tredje kvartal uppvisar stabil produktion, ökade leveransvolymer och positivt kassaflöde. Fortsatta åtgärder för effektiviseringar och kostnadsbesparingar har fått effekt, främst genom produktivitetshöjande insatser i den dagliga verksamheten och effektivare anläg