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Acquisition could add $150 million in revenue and $30 million in profit when operating at full-scale SINGAPORE, April 26, 2023 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a global ocean technology company, today announced that the Company's CEO Dr. Guohua Zhang has sold Penxing Gabon SARL to Caravelle for $1. Penxing Gabon SARL owns and operates a sawmill and laminate wood flooring manufacturing facilities in Gabon, Africa capable of producing 100,000 cubic meters of sawn timber and 2.5 million square meters of wood flooring per year. Penxing also owns the logging rights to 340,000 hectares of forest land in Gabon. A recent appraisal of Penxing Gabon SARL valued the company at $30 million. This acquisition completes the supply chain for the Company's recently announced expansion into exporting wood products directly to the U.S. market, with added cost savings from drying the wood in-transit using the Company's revolutionary Co-Tech solution and the duty-free status granted under The African Growth and Opportunity Act making the market opportunity even more attractive. When operating at full capacity, the Company estimates that the Penxing manufacturing facilities could produce $150 million worth of laminating flooring and other wood products which would generate $30 million in profit. "It gives me great pleasure to announce the gifting of my $30 million company to Caravelle. This decision was made as a symbol of my commitment to building value for all shareholders myself included as the largest and majority shareholder, and to ensure the long-term success of our company," said Dr. Guohua Zhang, Chief Executive Officer of Caravelle. "Penxing Gabon SARL is much more valuable as a part of Caravelle than it was on its own as it vertically integrates the Company all the way from timber harvesting to the sale of finished laminate flooring and wood products in the United States, Asia and Europe. This is a multi-billion market opportunity and as a vertically integrated company we will capture much more profit." About Caravelle International Group Caravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd.. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore. Forward Looking Statements This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
SHANGHAI, April 24, 2023 /PRNewswire/ -- With over 22 years of experience and resources accumulated, SinoCorrugated 2023, organized by RX (China) Investment Co., Ltd., is committed to building an industry gale that will drive the development of the corrugated packaging market from July 12-14. The exhibition has previously taken place at the Pudong New International Expo Center and this year, it will be held at the Hongqiao National Exhibition and Convention Center, offering an increased exhibition area of 100,000 square meters, providing not only a larger scale event but also an expanded are of each exhibition. SinoCorrugated 2023 will take place in Shanghai from July 12-14 Six Concurrent Exhibitions Cover the whole Packaging Industry Chain As a mega gala of the global packaging industry chain, along with SinoCorrugated 2023, SinoFoldingCarton 2023, SinoPaper 2023, DPrint 2023, Food Pack & Tech 2023, and PACKCON 2023, SinoCorrugated 2023 invited over 1,200 high-quality exhibitors and more than 100,000 overseas visitors. It has strategically partnered with 200+ international associations and media to create a dynamic platform for industry communication and trade. Over 200 global/Asian latest equipment and products are set to debut at the event, highlighting the latest trends and innovations in the packaging industry. It is the largest and most comprehensive exhibition of the year, promising to exceed expectations. Bigger and more convenient venue in Shanghai The new venue, the National Exhibition and Convention Center (NECC), provides convenient access for visitors with various transportation options available. NECC is a mere 10-minute drive from Shanghai Hongqiao International Airport and Shanghai Hongqiao High-Speed Railway Station. The surrounding subway and highway network are well-connected, allowing access to all major cities in China, such as Suzhou and Hangzhou, within 1 to 2 hours, as well as several large shopping malls. The display area of the new venue is more centralized, streamlining visitor entry and reducing queue times. This provides visitors the opportunity to systematically gain a comprehensive understanding of the packaging industry chain. Exhibition Highlights With the recovery of global trade, there is a high willingness among international exhibitors to participate. Over 100 overseas exhibitors from more than 30 countries and regions will be returning to SinoCorrugated 2023. Seven national exhibition groups from Germany, Italy, Spain, Japan, the United States, South Korea, and India, will bring new equipment and technology to the conference and compete with Chinese exhibitors. 200+New Product Global Debut Show SinoCorrugated 2023 is an excellent international stage for product debuts, and there are various global and Asia Pacific debuts will launch. Visitors will have the opportunity to witness a vast number of on-site equipment start-up demonstrations, providing an immersive experience of the industry's new product releases. On-site display of the 2025 future paperboard factory landing plan Oversized negative high-speed corrugated production line High-speed belt conveying single-sided and whole production line solutions Face-up pre-printed corrugated board production Fully digital unmanned glue making workstation High-speed corrugated board production line combined with online digital printing (world premiere) Japan's SHINKO's Super Alpha Series - New high-speed carton printing folder-gluing linkage line. Fully digital unmanned glue making workstation Intelligent high-speed corrugated board production line with adaptive cruise High-speed printing and gluing line with the latest Korean gluing technology Fully independent servo fixed unit high-definition printing slotted die cutting paste box linkage line 1200DPI water-based high-definition digital printing machine and linkage line that meets the needs of large-scale industrial production. Maximum 2.5m width, 1m/s high-speed roll-to-roll digital pre-printing equipment Double automatic nail box line with a maximum width of 7.2m for large boxes Large format high-speed flat flattening die-cutting equipment with automatic pallet stacking function On-site demonstration of the unmanned logistics system and intelligent loading system World Corrugated Awards (WCA) The biennial "Oscars" of the industry The World Corrugated Award has become an iconic annual event for the corrugated industry since its launch in 2019. Organized by Reed Exhibitions and backed by the world's most prestigious and comprehensive industry associations and world-leading brand owners, the WCA brings together over 200 top companies worldwide. The event aims to recognize teams and individuals with innovative and outstanding management skills in the packaging industry by presenting awards. Moreover, WCA set even a total prize pool of over $10,000 and 8 awards for this year's awards, and they are : Best Design Innovation Award of the Year Innovative Material of the Year Innovative Application Award Best Risk Management Award of the Year Intelligent Production of the Year Business Transformation of the Year Top Five Outstanding People in the Industry of the Year Most Influential Cardboard Mill of the Year WCA has opened for nominations, and any projects related to corrugated are eligible to participate. The award ceremony is scheduled to take place on July 11, the day before the exhibition. More than 30 high-end industry events One stop to understand the development trend of the global packaging industry 30+ events have been designed to offer audiences unparalleled opportunities to network and collaborate with industry experts, learn about the latest trends and technologies in the packaging industry, and discover new products. Additionally, visitors can look forward to exciting activities such as the World Corrugated Forum, Asia-Pacific Printing Forum, New Product Global Debut Show, and National Days events such as India Day and Malaysia Day. See you in Shanghai! As the official platform for the packaging industry, SinoCorrugated 2023 is dedicated to promoting the development of the entire industry and providing a space for industry communication and collaboration. It invites all packaging industry professionals, companies, and enthusiasts to participate in these influential, forward-looking, and comprehensive industry exhibitions. Don't miss the opportunity to network with industry leaders, discover new products and technologies, and stay ahead in the field of packaging. WEPACK 2023 will take place at the National Exhibition and Convention Center in Shanghai, China, from July 12-14, 2023. Pre-registration is now open on the website, and secure your free tickets in advance.
SEOUL, South Korea, April 18, 2023 /PRNewswire/ -- West Pharmaceutical Services, Inc. (West), a global leader in innovative solutions for injectable drug administration, today announced the extension of its complete containment solution, Ready Pack™, in South Korea at the 18th Korea Int'l Cosmetic·Pharmaceutical·Bio Process & Technology Exhibition (COPHEX 2023). The extension brings in Corning® Valor® RTU Vials, which utilize Stevanato Group's EZ-fill® technology. With an additional vial option to booming biotech and pharmaceutical industries in South Korea, West continues to support its customers in bringing parenteral drugs and diagnostics to the market in a safer and faster manner. West first announced its agreement with Corning to expand Corning's Valor® Glass technology with the goal of advancing patient safety and expanding access to life-saving treatments in January 2022. With the common aim of building the next generation of integrated packaging and delivery system solutions, West now includes the global exclusive distribution rights for Corning® Valor® Glass vials and the launch of its first product, West Ready Pack™ containment solution with Valor® RTU Vials utilizing SG EZ-fill® technology. Underpinned by the purpose-built pharmaceutical glass, the Valor® RTU Vials with SG EZ-fill® technology bring a wide range of benefits, from enhancing the storage and delivery of drugs, providing more reliable access to medicines essential to public health to optimizing production efficiency and addressing the challenges of today's manufacturing operations. Journey Hong, General Manager, West Korea said: "South Korea is a rising star in the global biopharmaceutical industry based on its outstanding biotechnology infrastructure, advanced clinical study, and world-class IT technology. The extension of our complete containment solution, Ready Pack™, comes at a critical time amidst the government's growing ambition to establish the country as a globally competitive bio-health hub. Being at the forefront of innovation since our foundation 100 years ago, West will continue to support our Korean customers on this exciting journey." Michael Lei, Director, Strategic Marketing, AP Biologics & Glass System added: "For emerging biologics companies, speed to market with minimized risk is key to success. Facing the changing and reactive challenges of the marketplace, West's Ready Pack™ containment solution with Corning® Valor® RTU Vials provides drug developers with a complete vial containment solution from development through to commercialization, streamlining time to market." Features of West Ready Pack™ Containment Solution Adding Valor® RTU Vials with SG EZ-fill® technology, West's Ready Pack™ containment solution offers superior quality stoppers and seals as a one-source ready-to-use packaging solution to protect, store, and deliver your drug product, providing the following benefits to drug developers: Proven system solution with Container Closure Integrity (CCI) giving you peace of mind that components work together; The combination of Valor® RTU Vials and NovaPure® stoppers as a suitable and reliable container closure system for frozen drug storage at temperatures as low as -80°C; Premium components with the tightest particulate specifications in West's offering to simplify regulatory path; Sterile ready-to-use format that can be directly introduced into high throughput filling operations, eliminating the need for component preparation; and Availability in quantities suitable for small-scale filling operations with continuity to quantity options for large-scale commercial operations. For more information on the Ready Pack™ containment solution and West's other innovative products and services, please visit our booth 2E601 at COPHEX 2023. West Ready Pack™ Containment Solution West and the diamond logo, Ready Pack, and NovaPure are trademarks or registered trademarks of West Pharmaceutical Services, Inc. Corning and Valor are registered trademarks of Corning Incorporated. EZ-fill® is a registered trademark of Stevanato Group. West Pharmaceutical Services, Inc. is the exclusive distributor of Corning Valor® Glass Vials. Copyright © 2023. West Pharmaceutical Services, Inc. Forward-Looking Statements Certain forward-looking statements are included in this press release. They use words such as "complete," "streamlining," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this release. There is no certainty that actual results will be achieved in-line with current expectations. Specifically, there is no certainty that West's introduction of the Ready Pack™ containment solution will achieve any particular result. These forward-looking statements involve a number of risks and uncertainties. Various factors could cause the actual results to differ materially from those expressed in, or underlying, these forward-looking statements, such as customers' changing inventory requirements and manufacturing plans; customer decisions to move forward with new products and product categories; dependence on third party suppliers and partners; and interruptions or weaknesses in the supply chain. These important factors are not all inclusive. For a description of certain additional factors that could cause West's future results to differ from those expressed in any such forward-looking statements, see Item 1A, entitled "Risk Factors," in West's Annual Report on Form 10-K for the year ended December 31, 2022. Except as required by law or regulation, West undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. About West Pharmaceutical Services, Inc. West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With 10,000 team members across 50 sites worldwide, West helps support our customers by delivering approximately 47 billion components and devices each year. 2023 marks West's 100-year milestone of innovation and the critical role it continues to play in healthcare and the patient experience. Headquartered in Exton, Pennsylvania, West in its fiscal year 2022 generated $2.89 billion in net sales. West is traded on the New York Stock Exchange (NYSE: WST) and is included on the Standard & Poor's 500 index. For more information, visit www.westpharma.com.
Don't miss the biggest exhibition in the packaging industry SHANGHAI, April 17, 2023 /PRNewswire/ -- With over 22 years of experience and resources accumulated, SinoCorrugated 2023, organized by RX (China) Investment Co., Ltd., is committed to building an industry gala that will drive the development of the corrugated packaging market from July 12-14. This year, the exhibition will be held at the National Exhibition and Convention Center·Shanghai·China. SinoCorrugated 2023 will take place in Shanghai from July 12-14 Six Concurrent Exhibitions Cover the whole Packaging Industry Chain As a mega gala of the global packaging industry chain, along with SinoCorrugated 2023, SinoFoldingCarton 2023, SinoPaper 2023, DPrint 2023, Food Pack & Tech 2023, and PACKCON 2023, SinoCorrugated 2023 invited over 1,200 high-quality exhibitors and more than 100,000 global visitors with 200+ international associations and medias. Over 200 global/Asian latest equipment and products are set to debut at the event, highlighting the latest trends and innovations in the packaging industry. It is the largest and most comprehensive exhibition of the year, promising to exceed expectations. With the recovery of global trade, there is a high willingness among international exhibitors to participate. Over 100 overseas exhibitors from more than 30 countries and regions will be returning to SinoCorrugated 2023. Seven national exhibition groups from Germany, Italy, Spain, Japan, the United States, South Korea, and India, will bring new equipment and technology to the conference and compete with Chinese exhibitors. Bigger and more convenient venue in Shanghai This year, the exhibition will be held at the NECC·Shanghai·China, offering an increased exhibition area of 100,000 m2, providing not only a larger scale event but also an expanded area of each exhibition. The display area of the new venue is more centralized, streamlining visitor entry and reducing queue times. This provides visitors the opportunity to systematically gain a comprehensive understanding of the packaging industry chain. More than 30 high-end industry events 30+ events have been designed to offer audiences unparalleled opportunities to network and collaborate with industry experts, learn about the latest trends and technologies in the packaging industry, and discover new products. Additionally, visitors can look forward to exciting activities such as the World Corrugated Forum, World Corrugated Awards, Asia-Pacific Printing Forum, New Product Global Debut Show, and National Days events such as India Day and Malaysia Day. SinoCorrugated On-Site Scene WEPACK 2023 is now open on the website and secure free tickets in advance.
Technology captures previously unrecoverable resources from municipal waste TOLEDO, Ore., April 11, 2023 /PRNewswire/ -- Juno, a proven, award-winning waste recovery technology pioneered by Georgia-Pacific, began processing waste from King County (Seattle metro area), Washington, as the municipality explores opportunities to divert waste from landfills. The 12-week mixed waste processing pilot project began on Feb. 28. During the pilot, Juno® Technology will process municipal solid waste from King County. King County estimates that 70 percent, over 600,000 tons per year, of recyclable material exists in the county's waste stream despite robust curbside recycling programs. The county's Solid Waste Division is analyzing how Juno can help meet goals under its Re+ initiative. According to its website, "Re+ is about reducing the amount of garbage that needs to be managed by keeping materials in use longer and recovering economically valuable resources that now get buried in a landfill." The first Juno commercial unit began processing local solid waste in Toledo, Oregon, in May of 2021. In its first year of operation, Juno has almost tripled landfill diversion rates in Toledo, with an annual capacity of 60,000 to 70,000 tons. Future installations will be capable of processing 300,000 tons of waste per year using additional sorting equipment along with the ability to capture biogas, driving potential diversion rates to 90 percent of the waste processed. "We are really excited about the diversion potential of mixed waste processing technologies like Juno," said Pat McLaughlin, King County's Solid Waste Division director. "Mixed waste processing, alongside other waste reduction, prevention, and recycling initiatives, has the potential to be an important piece of our long-term plans to reduce the amount of garbage going to the landfill, and lower our carbon footprint here in King County." Through a patented wet waste processing solution designed to separate, sanitize, and wash food and other organic debris, Juno captures previously unrecoverable paper fibers in the waste stream such as from cups with plastic coatings or paper-based packaging with food contamination. In addition to recapturing paper fiber, other recyclable materials like metals and plastics are reclaimed for new beneficial uses. "Juno is a revolutionary approach to waste diversion that is helping communities reach their sustainability goals without having to change the waste collection infrastructure," said Christer Henriksson, Juno's president. "Contamination is the biggest barrier communities face as they try to increase recycling rates. Juno is proven to help solve this problem." For more than a decade, Georgia-Pacific researched better ways to recover more fiber from waste streams and help increase paper recycling. The company developed and patented Juno Technology as an environmentally and economically responsible solution to increase recycling and recovery. About Juno Juno has developed a breakthrough waste recovery technology that uses patented sanitization and separation processes to recover up to 90% of materials it processes, diverting them from landfills and incinerators. These materials – things like paper fiber, plastics, and metals – are then circulated back into the economy for reuse. Not only is Juno able to reclaim previously unrecyclable materials, but it can also turn food waste into renewable biogas, and each ton of waste processed through a Juno facility represents up to a one-ton net reduction CO2 emissions.* Juno began operating a pilot plant in Savannah, Georgia, in 2013, and the first commercial installation opened in Toledo, Oregon, in early 2021, with plans to expand around the globe. Making a better world – together. To learn more, visit www.gpjuno.com *Juno has estimated the CO2e impact for Juno® Technology through the EPA WARM model version 15 using Portland, Oregon, Metro's 2016 waste characterization. EPA WARM model is a standard for measuring carbon impact in the waste industry. About the King County Solid Waste Division The Solid Waste Division is guided by its vision to achieve zero waste of resources, and to enhance the environment through collaboration and innovation. The division operates eight transfer stations, two rural drop boxes, and the Cedar Hills Regional Landfill – the only operational landfill in the county. Our stakeholders include residents and business owners in unincorporated King County and 37 cities throughout the county. Our mission is to bring the best people together to deliver value to our customers and stakeholders, and to continuously improve waste prevention, resource recovery, and waste disposal. Juno began processing waste from King County, Washington, in February 2023 as the municipality explores opportunities to divert waste from landfills. Bales of mixed waste are loaded onto a conveyer belt to be processed by Georgia-Pacific's Juno waste recovery technology in Toledo, Oregon.
The movement's mission is to articulate and integrate those interested in the recovery of the biome, strengthening actions to promote ecological restoration SAO PAULO, April 5, 2023 /PRNewswire/ -- Bracell was elected to join the new Coordination Board of the Pact for the Restoration of the Atlantic Forest – 2023/2024, a collective initiative, which involves more than 300 institutions from different segments of society committed with the restoration of the Atlantic Forest, which aims to articulate and integrate those interested in the recovery of the biome, strengthening actions to promote ecological restoration. The initiative reinforces Bracell's commitment to sustainability, which, along with other companies and organizations, will have the role of implementing the action strategies defined by the movement's Coordination Council, promoting fundraising actions, establishing partnerships and representing the movement in forums, collegiate bodies and events. "Being with entities committed to the same values that Bracell believes in is very important for the company. We believe that strategies in favor of the environment, when they are drawn together, become fundamental for us to have an increasingly sustainable future. We have a purpose that everything we do must be good for the country, the climate, the communities and the customers," says João Augusti, Sustainability Manager at Bracell which is a member of the RGE group of companies founded by Sukanto Tanoto. Established in April 2009, the Pact acts strategically by linking public and private institutions, governments, companies, the scientific community and landowners to combine their efforts and resources to generate results in restoration and conservation of biodiversity in the 17 states of the biome. The Pact's goal is to enable the recovery of 15 million hectares by the year 2050, but targets and monitoring of annual results. In 2022, Bracell established an important sustainability goal for the preservation of biodiversity. The company launched the "One-For-One Commitment", an unprecedented initiative in the Brazilian pulp sector, which contributes to the conservation of native vegetation areas equal in size to the planted areas. For each hectare of eucalyptus planted, Bracell is committed to the protection, conservation or recovery of one hectare of native land. The target will be achieved by the end of 2025. In addition to the conservation of existing native areas in Bracell's production areas, the commitment supports conservation in public areas and the recovery of degraded areas through partnerships with governments and other institutions. It will also act in the prevention and fight against forest fires, deforestation and theft of native wood, illegal hunting and capture of wild animals. About Bracell Bracell is a global leader in the production of dissolving pulp and specialty cellulose with two main mill operations in Brazil in Bahia and São Paulo. In addition to its operations in Brazil, Bracell has a management office in Singapore and sales offices in Asia, Europe and the U.S. www.bracell.com/en/. About RGE Headquartered in Singapore, RGE is a group of resource-based manufacturing companies with global operations. We produce sustainable natural fibres, edible oils, green packaging and clean natural gas used to create products that feed, clothe and energise the world. We help improve billions of peoples' lives through sustainable products they use every day. With more than US$30 billion in assets and 60,000 employees, we are creating a more recyclable, biodegradable and lower carbon future. Committed to sustainable development, conservation and community development, we strive towards what is good for the community, good for the country, good for the climate, good for the customer, and good for the company. With current operations spanning across Indonesia, China, Brazil, Spain and Canada, we continue to expand and engage new markets. www.rgei.com/.
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Paper/Forest Products/Containers
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