AkzoNobel agrees to acquire V Powdertech business

LAHORE (PR): AkzoNobel has agreed to acquire the business of V. Powdertech Co., Ltd., the leading Thai manufacturer of powder coatings, supplying a range of products for domestic appliances, furniture and general industrial applications, and currently employing more than 250 employees.

The acquisition of V.Powdertech will bring new technologies and services to complement AkzoNobel’s global technology portfolio and business in market segments such as architectural and automotive coatings.

The transaction includes all relevant technologies, patents and trademarks, as well as a manufacturing plant in Samutsakhon, Thailand. In addition, the employees from V.Powdertech will be joining AkzoNobel, bringing with them product and market expertise to serve an expanded customer base in the region.

“We are pleased to welcome our new colleagues to AkzoNobel” said Ruud Joosten, AkzoNobel’s COO of Paints and Coatings. “This business is an excellent strategic fit and will further strengthen our leading market positions in powder coatings in South East Asia. With V. Powdertech’s strong brand, we will be able to offer a broader range of products and services to more customers and target new growth segments.”

Completing this acquisition will secure the position of AkzoNobel as one of the largest powder coatings players in South East Asia. The valuable addition of V. Powdertech’s state-of-the-art manufacturing plant further strengthens AkzoNobel’s manufacturing foot print in fast growing markets in South East Asia, providing a solid foundation to accelerate profitable growth in the region.

 Buckman, Engro Corporation enter strategic alliance

MEMPHIS (PR): Buckman has entered into a strategic alliance with Engro Corporation, through its digital business arm Engro Digital, to deliver process and reliability optimization to utilities and industries. The partnership will focus on developing apps on Predix, GE’s application development platform for the Industrial Internet that was purpose-built to meet the scale, complexity, speed and security requirements of industry.

Engro has already partnered with GE Digital to leverage Predix for developing Digital Industrial Solutions. The agreement was signed by Najam Saeed, Head of Business Development, Energy and Infrastructure, Engro Corporation – Digital Business, and Junai Maharaj, CEO and President of Bulab Holdings Inc, in the presence of senior executives from both companies at Buckman’s headquarter located in 1256 North McLean Blvd. Memphis, Tennessee 38108-1241, USA.

The groundwork for the formation of Engro Digital was laid in July 2016, when Engro Corporation and GE entered into a strategic alliance. The partnership brings together Engro’s deep vertical domain knowledge in multiple industries with GE’s world class applications platform. The addition of Buckman to the partner eco system complements the existing alliance with trusted solutions for the energy, water, environment and asset management demands of utilities in the industrial sector.

Jahangir Piracha, Senior Vice President of Engro Corporation, said, “We first adopted GE’s Digital Power Plant solutions in 2015 at the 220 MW EngroPowergenQadirpur Limited Power Plant and have since then seen first-hand how the solutions can help improve site operations. Today’s agreement is a testament to our belief that Digital Industrial Solutions can play a vital role in our continuous search to enhance the process efficiency and asset reliability and shall help industries increase profitability.”

The already decade-long partnership between Engro and Buckman will now deliver digital solutions to help industrial plants operate their utilities at optimum performance for cost optimization, asset life extension, and energy and water conservation. The first digital solutions will be available in 2018 with multiple clients already identified for pre-launch implementations.

“This alliance is very much in line with the vision for the future of Buckman,” says Junai Maharaj, CEO and President of Bulab Holdings Inc., which wholly owns Buckman.

 JS Bank sponsors WWF-Pakistan's Green Office

Network Meeting

LAHORE (PR): JS Bank has sponsored WWF-Pakistan's Green Office Network Meeting 2017 at a local hotel in Lahore. The purpose of the network meeting was to urgently translate sustainability strategies and best practices for reducing plastic debris, in Pakistan, into actionable development plans. The theme of the event was “to turn the tide” and solve the excessive plastic waste problems that each one of us creates on a daily basis.

The one-day conference was attended by the corporate and public sector leaders, academics and industry practitioners from all across Pakistan. It included keynote speeches from respected environmental lawyer, Rafay Alam who discussed the prevailing laws regarding plastic consumption and its alternatives in Pakistan.

Hassaan Sipra, Scientific Officer, Centre for Climate Research and Development, COMSATS also shared a deep dived synthesis of his research on the informal waste sector of Lahore and the international labour organizations for plastics waste management in Pakistan.

The event was followed by an award ceremony for Green Offices with best performances in reduction of their carbon footprint. In this regard, JS Bank received the Best Green Office coordinator award.

Speaking on the occasion, Yawar Herekar, Head of Economics & Sustainability, JS Bank, said, “We have always strived to benefit the country and citizens through various green initiatives leading to an environmentally sustainable planet. In the past also, we met all the requirements set by WWF and became the first commercial bank in Pakistan to be certified by WWF-Pakistan as Green Office.”

 National Savings introduces new service

ISLAMABAD (PR): National Savings has introduced another important service to facilitate its customers: Withdrawal slips can now be used for third party payments (utility bills, school fees and other expenses). Previously, these withdrawal slips were merely used for payments to oneself only. The significant progress was made possible with National Savings taking membership of NIFT (National Institutional Facilitation Technologies) the Banking Clearing System having over 20 years’ experience in clearing business with a strong 26 branch network covering all major cities and financial centers in the country.

National Savings remain the only non-banking member of the Banking Clearing System and its 238 branches have become a part of NIFT's clearing grid and are transacting on an average 2000 cheques a day. This service of withdrawal slips will enable savings account of National Savings to effectively become an operational account and at par with any normal bank account. The National Savings withdrawal slip will act as a cross cheque and could be deposited in third-party account with any bank, anywhere in Pakistan for clearance through banking clearing system.

Congratulating National Savings on the launch of this service, Haider Wahab, Chief Executive of NIFT, said, “We see a great transformation happening at National Savings and are excited to be involved and support such initiatives. NIFT’s focus has always been on delivering a seamless payment experience for customers. We are determined to provide industry proven and secure solutions for financial sector of Pakistan. NIFT has been enhancing its digital payment capabilities for the last one year as we believe in harnessing the power of digital to transform the customer experience and support the growing demand for more convenient and accessible digital payment solutions.

 Four-day SMIU festival from Dec 7

KARACHI (PR): Sindh Madressatul Islam University finalised the schedule of its 4-day Festival of Arts and Ideas in a meeting chaired by Vice Chancellor Dr Muhammad Ali Shaikh at the Conference Room of SMIU.

The festival will hold from 7th December to 10th December in the premises of SMIU. In the meeting, it was decided that during the festival four international lecture programs, eight guest speaker’s sessions, nine panel discussions, 3 bookshelf sessions, documentaries/short films competition, painting and photography’s exhibition, performance by SMIU’s students on seven famous folklores of Sindh, singing and quiz competitions, film fare, fun fare, national and international cultural shows and school show will be organized.