Tag: investment (Page 5 of 10)

Mercedes-Benz Berlin Plant Boss to Join Tesla

November 11, 2020 / WIL BALDWIN

FRANKFURT (Reuters) – The head of the Berlin engine plant run by Mercedes-Benz has defected to rival Tesla <TSLA>, German union IG Metall said on Wednesday, calling on employees to protest over his departure.

IG Metall declined to name the head of the plant, which has been run by Rene Reif, one the most experienced manufacturing executives at Mercedes-Benz who helped expand manufacturing capacity for Daimler <DAI> in China.

Reif used to be head of engineering and manufacturing at Beijing Benz Automotive Co. Daimler’s Chinese joint venture, which has a manufacturing capacity of around 480,000 cars and started building the electric Mercedes-Benz EQC last year.

Tesla declined to comment on whether it had found a new manager for a Gigafactory being built on the outskirts of Berlin but the electric carmaker is on a global manufacturing expansion push, building or expanding new factories in Texas, Germany and China.

Last month, a source told Reuters that a Tesla manager who oversaw the construction of the electric carmaker’s Gruenheide plant, had left his position.

Daimler said on Wednesday that Reif, 57, the manager of its Mercedes-Benz Berlin plant, which makes powertrains, would go into early retirement at the end of the year, at his own request.

Mercedes-Benz Werk Berlin, Deutschland: Montage des Mercedes-Benz V6 Dieselmotor OM642 / Mercedes-Benz Berlin Plant, Germany: Assembly of the Mercedes-Benz V6 diesel engine OM642

German unions have lamented the fact that traditional carmakers are cutting investment into combustion engine technologies as regulators clamp down on emissions and as demand for vehicles is hit by the COVID-19 pandemic.

IG Metall said there would be a protest in front of the Mercedes factory on Thursday and called on Daimler to present solutions that would help to guarantee the future of the plant.

The union said Daimler managers had outlined cost savings plans and union officials fear the Berlin plant’s future is at risk.

Daimler said Clemenz Dobrawa, who currently heads up the Mercedes-Benz battery manufacturing plant in Kamenz, had taken over leadership of the Mercedes-Benz plants in Hamburg and Berlin earlier this month.

“Thanks to his activity as representative in Kamenz, he brings important know-how for the transformation toward electromobility,” Daimler said, adding the Berlin plant would be restructured to serve an ‘Electric First’ strategy.

(Reporting by Edward Taylor and Ilona Wissenbach. Editing by Jane Merriman)

Amtrak Requests Funding to Avoid Service and Employment Reductions

October 11, 2020 / WIL BALDWIN

Following regular discussion with Congress about our federal funding needs for Fiscal Year 2021, Amtrak submitted a letter to Congress formalizing our ongoing request for up to $4.857 billion this fiscal year for Amtrak and our partners.

From the letter, Amtrak President and CEO Bill Flynn notes “we have seen that our ridership is not returning as quickly or at the levels that we had hoped for, and we updated our forecast for FY 21. We now anticipate needing up to $4.857 billion in FY21 to support the company and our employees through this unprecedented situation.”

Additionally, as Congress considers programs for stimulating the economy, Amtrak has identified $5.193 billion in additional investments as part of an economic recovery proposal to help the nation recover from the impacts of the pandemic, for a total federal investment of $10.050 billion. This includes critical projects, such as replacing bridges and tunnels on the Northeast Corridor, new fleet, infrastructure improvements throughout our national network, and major station improvements. If this additional $5.193 billion investment is made, Amtrak anticipates that, based on various transportation studies, more than 75,000 jobs could be created, while building for the future needs of America’s traveling public.

Business remains at about 25% of pre-COVID levels. Based on our current forecast, our FY 2021 ridership and revenue are forecasted to improve to about 40% of pre-COVID levels, which is weaker than anticipated.

If we do not get additional funding, potential impacts on customers, employees and projects include the reduction of corridor trains as state partners are forced to suspend service, and the deferment of numerous capital projects and procurement critical to the railroad, both of which could result in a corresponding loss of an additional 2,400 in total jobs.

“To manage this situation, Amtrak will work to adjust its operating and capital spending plans during this short term CR, with the aim of minimizing further impacts on our customers and employees. However, if the FY 20 funding level is extended beyond December 11, 2020 and supplemental funding has not yet been provided, we will be unable to avoid more drastic impacts that could have long lasting effects on our Northeast Corridor infrastructure and the national rail system,” said Flynn in the letter.

Queensland to Assemble Boeing’s First Australian Designed & Developed Unmanned Aircraft

October 5, 2020 / WIL BALDWIN

Queensland is poised to take another bold step in aerospace and advanced manufacturing with an historic opportunity to be the final production home for unmanned defence aircraft – the first military aircraft to be designed, engineered and manufactured in Australia in more than 50 years.

Premier Annastacia Palaszczuk said a visionary new partnership with Boeing Australia means more high-skilled jobs, local supply opportunities and defence industry stimulus as Queensland continues to recover and grow from the COVID downturn.

Our investment in this advanced manufacturing project will provide critical skills for suppliers, academia and Boeing, and culminate in Queensland becoming the primary final assembly facility for the Boeing Airpower Teaming System, conditional on orders.

The first aircraft prototype, called the Loyal Wingman, was unveiled with the Royal Australian Air Force in May this year.

Treasurer Cameron Dick said the Boeing partnership demonstrated the Palaszczuk government’s commitment to advanced manufacturing.

“Manufacturing is a vital part of the Queensland economy, which is why supporting manufacturing is one of the centrepieces of our Unite and Recover Economic Recovery Plan,” the treasurer said.

“Our government’s longstanding commitment to advanced manufacturing is one of the reasons Queensland is already home to Boeing’s largest workforce outside the United States.

“Boeing has 1,700 staff in Queensland and supports 400 Queensland-based suppliers.

Boeing Australia, New Zealand and South Pacific President Brendan Nelson said the partnership with the Queensland government to develop an advanced manufacturing capability was a significant milestone for the company.

“This includes introducing technologies such as advanced robotics; investment in universities, small-to-medium enterprises and start-up companies; as well as creating global export opportunities for Australia’s supply chain.

Airbus Celebrates 5 Years of Production in Mobile, Alabama

September 14, 2020 / WIL BALDWIN

In 2015, Mobile, Alabama became home to Airbus’ first US-based commercial aircraft manufacturing facility. Now celebrating five years of production, it has grown from an initial workforce of around 250 staff producing A320 Family aircraft, to 1,000 employees building both the A220 and A320 aircraft families. To date, the factory has delivered more than 180 A320 Family aircraft to eight customers; aircraft which have subsequently flown 60 million passengers 500 million miles.

For Airbus, commercial aircraft production in Mobile signified two things: its position as a truly global aircraft company, and that it was also a truly American manufacturer. With the addition of this brand new US operation to the company’s A320 production network in Europe and Asia, Airbus had strategically augmented its worldwide industrial base in America – the largest single-aisle aircraft market in the world – to be closer to its US-based customers and key supplier partners.

Enter the A220 Family

The journey of Airbus’ investment in Mobile took a major stride in October 2017 when it announced the decision to introduce a second aircraft programme to the site: the A220 Family, entailing a second assembly line to be built adjacent to the original A320 plant – which would also complement the A220’s primary production site in Mirabel, Quebec, Canada. The arrival into the US of this newest Single-Aisle Family member was an important testament to the confidence that Airbus had in Mobile, and the confidence in the team there to make it happen. Fast-forward to the present, and the first US-built A220 is already in its final stages of manufacture for Delta Air Lines – which will roll-out in the very near future.

Prior to the introduction of the A220 and expansion of the A320 facilities, the Mobile site sat on 116 acres. Today Airbus has added another 70 acres of real-estate which accommodates: two new final phase/flight-line hangars (four bays); an enlarged delivery centre with four new aircraft parking spaces; a ‘pre-transshipment’ hangar and of course the new ‘flow-line’ final assembly line (FAL) building itself. Notably, the delivery centre will be named after one of the company’s former leaders, Tom Enders. Enders supported and drove the establishment of a new Airbus aircraft factory in the US during his tenure as CEO of Airbus.

Doubling local industrial footprint in five years

When complete, nearly US$1 billion will have been invested in Mobile – to create new state-of-the-art facilities designed and built primarily by local companies. In short, Airbus has doubled its footprint there in just five years – establishing a new manufacturing home for Airbus’ Single-Aisle Family. Moreover, a recent study* concluded that Airbus’ total economic impact throughout the state of Alabama in five years was US$1.2 billion, supporting more than 15,000 jobs through construction and payroll.

KiwiRail Supports Prisoner Reintegration with Railway Jobs

September 7, 2020 / WIL BALDWIN

A Northland programme to help prisoners rejoin society by building their skills and confidence through rail work is an exciting new initiative which will benefit the community, KiwiRail Group Chief Executive Greg Miller says.

Regional Economic Development Minister Shane Jones has announced $640,000 funding for KiwiRail’s “Second-Steppers” programme, which will provide training and support for the reintegration of 20 prisoners back into Northland’s community.

“Government investment to revitalise Northland’s rail line is already supporting local businesses and creating jobs in Northland. This additional funding means KiwiRail will be able to give something more back to the community,” Mr Miller says.

“Everyone knows how difficult it can be for prisoners to successfully reintegrate into the community. Giving them steady work, mentoring and manaaki tānga will enable them to learn new skills and assist with rebuilding their dignity.

“To start with, five carefully selected and vetted prisoners from Northland Region Corrections Facility, near Kaikohe, will be carrying out ‘release to work’ for us for six months. They’ll each go through a special course that provides a combination of health and safety, track maintenance, and personal development training. They’ll also be learning in an environment that offers Kaitohutohu (mentors) who can help support the growth of each participant.

“We’ve been building our workforce in Northland, and we want to bring on more local staff. This programme is designed to help up-skill the prisoners, with the intention to offer them full time work at the end.

“KiwiRail has a strong Māori network, and we want to inspire our next leaders and strengthen whakawhanaungatanga (relationships) with the communities around our rail operations.

“Rail will help to transform Northland and supporting prisoners to rejoin and contribute to society is a small but important part of that effort.”

KiwiRail expects the first group of five prisoners to begin work at our Whangarei Rail Depot in late September/early October. In total, 20 prisoners are expected to go through the Second-Steppers programme over the next two years.

KiwiRail is working with Corrections in selecting prisoners for the programme. There is a thorough pre-approval process and a number of factors are taken into account when assessing a prisoner’s suitability, including the prisoner’s security classification, their release and parole eligibility dates, their behaviour and potential impact on victims. Prisoners will be subject to electronic monitoring while on our sites and while travelling to and from Northland Region Corrections Facility each day.

The Helicopter Company Purchases 10 Airbus H125 Helicopters

August 20, 2020 / WIL BALDWIN

The Helicopter Company (THC), which is fully owned by the Public Investment Fund (PIF) of Saudi Arabia, today announced that it has signed a purchase agreement with Airbus Helicopters to purchase 10 H125 helicopters. The deal comes as part of THC’s commitment to further expand its fleet and introduce new services that fulfill market demand and support the development of the Kingdom’s wider aviation sector.

Considered a multi-task aircraft, the Airbus H125 can carry up to six passengers and be easily reconfigured to suit varying requirements. THC will utilize the new additions to its fleet to roll out new services related to scenic tourism and aerial work such as filming, banner towing, and surveying.

Commenting on the purchase agreement, Capt. Arnaud Martinez, CEO of THC said: “By signing this agreement, THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan. We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services that guarantee passengers a one-of-a-kind experience to relish the beauty of the Kingdom from above. I would like to thank our partners at Airbus Helicopters who have ensured we have reached an agreement that matches our requirements, and we look forward to furthering our collaboration in the near future. I would also like to extend our thanks to PIF for their enduring support since our founding as we work together to advance Saudi Arabia’s aviation industry.”

PIF established THC as part of its strategy to activate new sectors in Saudi Arabia that support the realization of Vision 2030 and generate long-term commercial returns. The Kingdom’s first local commercial helicopter operator, THC has been offering private flights since mid-2019 and is now expanding its services with the addition of the H125 to its fleet. This new agreement will contribute to driving the development of Saudi Arabia’s nascent and increasingly dynamic tourism and aviation industries and support the integration of each sector’s respective value chains.

Next Step for New Generation Interislander Ferries

May 28, 2020 / WIL BALDWIN

KiwiRail is taking the next step to procure a new generation of Cook Strait ferries which will increase the capacity on this vital transport link, and increase its resilience.

A Request for Proposal (RFP) to find a preferred shipyard to build two new ships for the Interislander is being issued today, the next step in the procurement process.

“The new ships will strengthen and enhance the vital transport link between the North and South Islands and represent a once-in-a-generation opportunity to transform the Cook Strait crossing,” Group Chief Executive Greg Miller says. The ferries are extensions of State Highway 1 and the Main Trunk Line across Cook Strait, linking road and rail networks between the two islands.

Currently, Interislander operates a fleet of three ferries, moving some 800,000 passengers and up to $14 billion worth of road and rail freight between the North and South Islands each year.

The $400 million contribution in Budget 2020 has enabled KiwiRail to go out to international tender to build the new ships, which are intended to arrive for service in 2024 and 2025. When the ferries are delivered, it will be over 25 years since New Zealand last introduced a brand-new purpose-built ferry to its fleet.

The $400 million towards the ferries and KiwiRail’s infrastructure at the ports in Wellington and Picton builds upon a $35 million-dollar investment in last year’s Budget for ferry design and procurement work.

The two new ferries will be technologically advanced, have significantly lower emissions, a greater carrying capacity – including rail wagons – and provide an enhanced visitor experience, Mr Miller says.

“On behalf of New Zealanders, we are grateful to the Government for enabling this acquisition,” says Mr Miller. “It is exciting to issue this RFP, to move the project forward and to find a shipyard to partner with KiwiRail to deliver the ships to our specifications, quality and timeline requirements.”

“Only overseas shipyards have the ability to build ferries of the size and standard needed for the Cook Strait. However, the project also involves new infrastructure including terminals, linkspans, and marshalling yards which will create numerous Kiwi jobs in Picton and Wellington. Community engagement has already begun in Picton for the proposed new terminal there.

“We are engaging our Interislander staff in the design of the ferries to ensure the ships are not only great for passengers, but also for those who work on them.

“Our new ferries and the associated port infrastructure will provide greater resilience for this crucial link that unites our country and will serve New Zealand for the next generation and beyond.”

Alstom’s Prima Electric Locomotive Begins Indian Railways Operation

May 27, 2020 / WIL BALDWIN

The first of the 12000-horsepower, Prima T8 electric locomotives has been put into commercial service by Indian Railways. Built by Alstom and certified by the Ministry of Railways and Commissioner of Railway Safety/RDSO, the electric locomotives – known locally by the designation WAG-12 – are the most powerful locomotives to run on Indian rails. The 2015 contract will see a total of 800 locomotives built for Indian Railways.

Set to revolutionise freight logistics in the country, the e-locos will allow faster and safer movement of heavy freight trains, capable of hauling 6000 tonnes at a top speed of 120 km/h. Planned for deployment on Dedicated Freight Corridors (DFCs), they will increase the average speed of freight trains in India by approximately 25 km/h. Equipped with Insulated Gate Bipolar Transistors (IGBT) propulsion technology, the e-locos will also allow considerable savings in energy consumption thanks to the use of regenerative braking.

“Alstom is very pleased to be delivering these electric locomotives to Indian Railways. The introduction of the Prima locomotives into the IR fleet demonstrates our commitment to the country. This revolutionary product which will be faster, safer and more environmentally friendly, and it will help write a new chapter for India’s sustainable mobility journey. We are immensely proud to be a partner in this,” said Ling Fang, Senior Vice President of Alstom Asia-Pacific.

In line with the Make-in-India mandate, all the 800 Prima locomotives are being manufactured locally. Designed at Alstom’s Engineering Centre in Bengaluru, the Prima T8 WAG-12 are being built in one of India’s largest integrated greenfield manufacturing facilities at Madhepura in Bihar. Spread across 250 acres, with a production capacity of 120 locomotives per year, the Madhepura site is built to international standards of safety and quality. Two ultra-modern maintenance depots in Saharanpur and Nagpur will ensure the high service availability of the locomotives. The Saharanpur depot is already operational and the one in Nagpur is under construction. Equipped with the latest features, these depots will play a critical role in maintaining India’s most advanced freight locomotives at significantly lower costs.

As part of the largest Foreign Direct Investment (FDI) project of Indian Railways, in 2015 the Ministry of Railways and Alstom signed a contract worth €3.5 billion (INR 25,000 crore) and created a joint venture for the project. The contract allowed for the manufacture of 800 double-section, 12000-horsepower electric locomotives for freight service and associated maintenance for a period of 11 years. The scope also included the set-up of a manufacturing plant at Madhepura (Bihar) for building the e-locos and two maintenance depots at Saharanpur (Uttar Pradesh) and Nagpur (Maharashtra). A true embodiment of India’s vision, the project will create more than 10,000 direct and indirect jobs in the country (primarily in the states of Bihar, Uttar Pradesh and Maharashtra).

Kiwi Rail Plans $1.2 Billion Investment to Rebuild New Zealand

May 18, 2020 / WIL BALDWIN

The Government’s $1.2 billion rail investment in Budget 2020 will help KiwiRail attract more customers and get more freight on rail, KiwiRail Group Chief Executive Greg Miller says.

Building on the Government’s $1 billion investment in Budget 2019, this second round of funding includes $400 million towards replacing the aging Interislander ferries and $421 million to continue the replacement programme for some of KiwiRail’s oldest locomotives.

The funding also includes $246 million, plus a $148 million top up of the National Land Transport Fund, towards ensuring New Zealand’s rail network, which includes more than 3000km of track, more than 1000 bridges and nearly 100 tunnels, is reliable and resilient.

“I welcome this substantial funding, which is another major boost for rail in New Zealand. For our customers this investment sends a clear signal that rail has a big future and gives them the confidence to get on board,” Mr Miller says.

“Our customers want to make greater use of rail and we’re seeing more road operators reach out for our support as their networks contract. We’re here to help them.”

“The Government’s investment allows us to continue with our locomotive replacement programme and raise the standard of our rail lines, bridges and tunnels across the country. This will enable KiwiRail to offer better and more reliable train services for our customers, and move more of New Zealand’s growing freight task onto rail.

“This funding recognises that rail has a greater role to play in New Zealand’s transport sector, and that it can make a valuable contribution towards lowering our transport emissions, reducing road congestion and saving in road maintenance costs – which benefits our nation as a whole.

Fifteen new Gen 2.3 DL locomotives depart KiwiRail’s Mt Maunganui yard, shortly after arriving at the Port of Tauranga, in 2018.

“The range of track renewal and facility upgrades we are planning will also support our workforce of almost 4000, as well as numerous civil contractors and material supply businesses across the country.”

“I’m very grateful to the Government for this level of support and I know that KiwiRail’s customers will be pleased by this demonstration of our shareholder’s commitment to rail.”

Mr Miller says the $400 million contribution to replacing Interislander’s three aging ferries and necessary landside infrastructure highlights how important the ferry connection is to New Zealand.

“Our Cook Strait ferries are an extension of State Highway 1, moving 800,000 passengers and up to $14 billion worth of road and rail freight between the North and South Islands each year.

“They are a must have for NZ Inc. The two new rail-enabled ferries will be more advanced, have significantly lower emissions and last for the next 30 years.

“This is a once-in-a generation investment and I am thankful for the Government’s support. It gives us the security to go out to international tender to build the ships, which we hope to see arriving on our shores in 2024 and 2025.”

Coastal Pacific crossing the Kahutara River.

Ferrari Extends Italian Plant Closures to April 14

March 27, 2020 / WIL BALDWIN

MILAN (Reuters) – Luxury carmaker Ferrari <RACE> said on Friday it would extend the shutdown of its two Italian plants and reopen on April 14, provided it had supplies, and update 2020 forecasts in May when it releases its first-quarter earnings.

Ferrari this month closed factories in Maranello and Modena, in the northern Italian region of Emilia-Romagna, for two weeks until March 27 in a response to the coronavirus outbreak and a shortage of parts.

Investment firm Exor <EXXRF>, which controls Ferrari, on Wednesday said that current plant closures at Ferrari as well as at other controlled companies Fiat Chrysler <FCAU> and CNH Industrial <CNHI>, though temporary, might continue.

Ferrari – which cited “the huge uncertainty and lack of predictability that the COVID-19 has created” – said it would continue to cover all days of absence for those employees who could not work remotely.

The company added it would give further financial guidance during a conference call on its first-quarter earnings, scheduled for May 4.

In February, Ferrari said it planned its adjusted core profit to increase to between 1.38-1.43 billion euros this year, compared to a previous guidance of over 1.3 billion euros.

Ferrari said on Friday it remained confident that it would “continue to create value for all stakeholders beyond the near-term uncertainties”.

(Reporting by Giulio Piovaccari; Editing by Nick Macfie)

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