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Engineering software firm Aveva has agreed a multibillion-pound tie-up with the software arm of France’s Schneider Electric.
The deal, which comes after two failed merger attempts in the past two years, will create an industrial software giant with combined revenues of around £658 million and earnings of some £146 million.
The merger will be structured as a so-called reverse takeover, with Schneider folding its software business into Aveva’s operations in return for a controlling 60% stake in the enlarged group. But Aveva will keep its headquarters in Cambridge and remain listed on the London Stock Exchange.
Philip Aiken, chairman of Aveva, said: “The transaction will be transformational to Aveva, creating a global leader in industrial software, which will be able to better compete on a global scale.” He added: “Aveva will significantly expand its scale and product portfolio, increase its capabilities in the owner operator market, diversify its end user markets and increase its geographic exposure to the North American market, in line with our strategic goals.”
It comes after the pair first began merger talks in July 2015, but those discussions broke down after Schneider was unable to separate its software assets, while a further attempt a year later also collapsed. Under the terms of the latest deal, Schneider will pay £550 million cash in almost identical terms to the previous talks.
Aveva was founded 50 years ago after being spun out of Cambridge University. It provides engineering software to owners, operators and engineering contractors across the power, oil and gas, marine and paper and pulp sectors. The group employs more than 1,700 people across 30 countries and has a customer base of more than 4,000.
Schneider’s software arm has a global footprint spanning North America, Europe, the Middle East, Asia Pacific and Latin America and has around 2,700 employees worldwide. The deal is expected to complete around the end of the year.
| A The YorkshirePost release || September 5, 2017 |||
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A New Zealand-made pilot vessel has arrived at CentrePort, bringing world-leading capabilities to help future shipping navigate Wellington’s harbour.
The vessel is named Te Haa, meaning ‘the breath’. The name is a reference to the breath exchanged between people when they touch noses in a hongi, which is analogous to the way the pilot vessel will meet visiting ships.
Yesterday Te Haa was welcomed into Wellington by Taranaki Whānui ki Te Upoko o Te Ika, who advised on the naming of the vessel.
Te Haa is a jet powered boat able to operate safely in adverse weather conditions far out in the Cook Strait. It has a maximum speed of 32 knots, and will provide significant time and fuel efficiencies as it delivers pilots to ships visiting Wellington.
CentrePort’s Chief Executive, Derek Nind, is pleased the Port decided to build the ship in New Zealand.
“It’s fantastic that Kiwi expertise came together to produce this vessel. The jets came from HamiltonJet in Christchurch, the Scania engines were supplied by South Pacific Diesel Systems in Porirua, the electronics were supplied and fitted by ENL in Nelson, and it was all put together at Q-West Boat Builders in Whanganui,” said Derek Nind.
“Te Haa will help us accommodate future growth and larger ships in Wellington Harbour.
“The vessel will provide significant health and safety benefits to our pilots and launch crews, since it has been designed to provide a safe platform in adverse weather.
“She will enable central New Zealand businesses to connect with international markets, and provide a new level of safety, speed and efficiency.”
Colin Mitchell, General Manager at Q-West was pleased to win the project through a competitive international tender process.
“We were extremely proud to be selected, and of the men and women that have produced this quality craft.
“CentrePort now have one of the most high-tech pilot vessels in New Zealand, and we look forward to continuing our long-standing relationship with them in the future,” said Colin Mitchell.
CentrePort is a returning customer for Q-West, which built its current vessel, the quarter-century old Tarakena. Tarakena is still in service, and will return to Q-West for a refurbishment before becoming CentrePort’s backup pilot vessel.
| A Centreport release || September 2017 |||
Investment in a new learning tool for Automotive Trades students at Ara shows the Institute is anticipating and adapting to new and emerging technology in the field. Students training as Electrical and Mechanical Automotive Engineers in Canterbury now have access to a hybrid car, exposing them to the swift technological developments in the industry.
Partly powered by an internal combustion engine, partly by electric motors, hybrid cars require less petrol than traditional motor vehicles. As such, these environmentally, and economically, friendly cars are becoming an increasingly common sustainable transport alternative.
While the current Automotive courses on offer at Ara focus predominantly on traditional motor vehicles, tutor David McBlain supports the Institute’s move to put students in the drivers’ seat of new, green technology. “As a college we’ve obviously got to adapt and keep up with the latest technology so that the students can actually see what is available and how the technology is actually developing for the future.”
McBlain as the proud owner of a full electric vehicle, has experienced the benefits first hand. His Toyata Prius runs entirely on electric charge so rising petrol prices don’t present a problem. Rather than pay for fuel, he plugs his car into charge each night. “My car is a short range vehicle and will do 120-130km on a single charge. I commute 100kms a day, so it’s enough for me to get in and out to work.”
Many may think that the high tech systems inside hybrid and electric vehicles would result in more complications than traditional petrol powered cars, however he disputes this. “When you look at the technology involved in an electric vehicle and under the bonnet, there is actually far less componentry to go wrong. There’s no gear box, it’s just a final drive. Engine losses are minimal. Acceleration is much superior. For me it’s a win-win. You’re losing less money, you’ve got less things to go wrong with it, and the performance is superseding standard cars already.”
McBlain, stresses the importance of equipping students for the rapidly developing market which they will enter into as graduates. “The technology is here now and it’s only a matter of time over the next couple of years, for the electric vehicles to become more prevalent in New Zealand and Australia. They’re coming now so the future mechanics need to be trained and ready.”
Ara is committed to leading in sustainability across the institute. Guided by the Sustainability Charter, Ara is embedding more sustainable practice and reviewing curriculum to reflect the latest sustainable best practice across all industries.
| An ARA release || September 4, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242