Odfjell SE’s Post

EXCITING UPDATE: The Export-Import Bank of the United States Board of Directors approved a $23.5 million loan to Amaero Advanced Materials & Manufacturing, Inc that will be used to expand the process capacity for critical minerals and alloys. This is the sixth transaction approved through our Make More in America Initiative (MMIA) and is representative of EXIM’s commitment to shoring up supply chains while supporting good-paying American jobs in Tennessee. Read more: https://bit.ly/4j9lLKn

Odfjell has now exercised purchase options for an additional four vessels currently on long-term lease to the company.  With these agreements, Odfjell is set to purchase a total of seven chemical tankers over the next 14 months. https://lnkd.in/g4-nbhKv #chemicaltankers Odfjell Technology 

𝗜𝗖𝗬𝗠𝗜: Motion signed a definitive purchase agreement to acquire the operating assets of U.S.- based International Conveyor and Rubber. Learn more about this transaction at the #linkbelow! ⤵️

Midland Deburr & Finish Ltd Deburr and Finish Calls for Robust UK Industrial Strategy to Boost Manufacturing. "UK manufacturing has a rich history and a strong foundation, but we need a clear, long-term industrial strategy to ensure that it continues to thrive," said MD Chris Arrowsmith. "At Midland Deburr & Finish Ltd, we've built our reputation on being a reliable outsourcing solution for the 'dirty processes' that many companies prefer to delegate. Processes like metal degreasing and deburring are vital to the integrity and performance of components in industries such as automotive, aerospace, and Formula One. Yet, without robust government support, the entire manufacturing ecosystem faces significant challenges." Read the full article here: https://shorturl.at/oGmVn #UKManufacturing, #IndustrialStrategy, #MetalFinishing, #Deburring, #MetalDegreasing, #ManufacturingExcellence, #UKIndustry, #InvestmentInManufacturing, #InnovationInIndustry, #GovernmentPolicy, #ManufacturingGrowth #BusinessLeadership #ukmfg #manufacturing

Sometimes when you really need to purchase some equipment to grow your business the initial costs can be restrictive. We can now offer our clients looking to purchase assets a 0% deposit and options to defer the VAT. meaning there is no upfront costs when purchasing an asset. Eligibility confirmations apply but give me a call to discuss. #assets #growth #machinery

Let us help! Email disposal@newengland.co.uk for a valuation of your assets. From single items to whole production lines and facilities. We specialise in closures and whole site clearances. Visit www.newengland.co.uk for more info! #disposal #siteclearance #recovery #assetrecovery #finance #liquidation #manufacturing #ukmfg #ukbusiness #machinery #production

𝗦𝗜𝗠𝗦 𝗨𝗞 𝘀𝗲𝗹𝗹𝘀 𝗮𝘀𝘀𝗲𝘁𝘀 𝘁𝗼 𝗨𝗻𝗶𝗺𝗲𝘁𝗮𝗹𝘀 𝗚𝗿𝗼𝘂𝗽 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 Sims Limited has agreed to sell its UK Metals business to Unimetals Group Limited for total after-tax cash proceeds of approximately £195 million (approximately $385 million), including the value of retained working capital. The transaction is expected to close before the end of the first quarter of FY25. Unimetals Group Limited will gain access to 28 facilities, including three port facilities and four shredders. The company's Metal portfolio will include Australia and New Zealand Metal, North America Metal and a 50% stake in SA Recycling Joint Venture. Sims also announced that it has signed a letter of intent to sell its remaining interest in CLP Circular Services Holdings LLC for approximately $32 million (approximately $50 million). Sims Municipal Recycling of New York was originally valued at $70 million on Sims' balance sheet. Sims CEO and Managing Director Stephen Mikkelsen said that the sale provides an optimal outcome for Sims and its shareholders. By focusing on high potential markets such as the United States, Australia and New Zealand, where the business position and demand for scrap is stronger, Sims can effectively leverage its strengths and deliver sustainable growth. Unimetals will generate approximately $435 million in after-tax cash proceeds between the two sales announced today. The proceeds will initially be used to strengthen the company's balance sheet and grow the refocused business with the requirement for balance sheet strength and flexibility and to deliver returns to shareholders over the medium term. https://lnkd.in/epigzH3M

Exciting news! The United States Steel Corporation (U. S. Steel) has chosen GEP’s AI-driven software to support its procurement #transformation and deliver new value to all stakeholders. We’re very proud to support U. S. Steel’s effort to streamline its source-to-contract process, automate data-intensive tasks and use its #procurement and #SupplyChain data to inform strategic decisions and optimize costs. https://bit.ly/49E4h4L

𝐓𝐎𝐑𝐌 𝐭𝐨 𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐄𝐢𝐠𝐡𝐭 𝐌𝐑 𝐕𝐞𝐬𝐬𝐞𝐥𝐬 𝐢𝐧 $𝟑𝟒𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐃𝐞𝐚𝐥 Product tanker operator TORM has agreed to acquire agreed to acquire eight second-hand Medium Range (MR) tankers for $340 million. Delivery of these vessels is expected in Q3 and Q4 of 2024. The purchase price comprises $238 million in cash and the issuance of approximately 2.65 million shares. The purchase price is subject to adjustments based on TORM’s share price development and the vessels’ delivery schedules. The vessels, built between 2014 and 2015 at the Tier 1-Korean yard Hyundai Mipo Dockyard, include six that have been fitted with scrubbers. The cash component of this transaction will be financed through traditional bank financing. Additionally, TORM has sold a 2006-built MR tanker for delivery in Q3 2024, securing a cash consideration of $23.3 million. “We are pleased to once more announce a partially share-based transaction to acquire vessels. Since 2021, TORM has utilized partially share-based transactions to expand the fleet, even before the product tankers market took off. This model highlights the strong trust the sellers have in our One TORM platform and their firm belief in market fundamentals,” said Jacob Meldgaard, Executive Director and CEO. TORM is one of the world’s leading carriers of refined oil products, operating a fleet of approximately 90 product tanker vessels. TORM’s shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York.

Great insights from Sell & Parker's Luke Parker on the darker side of the #scrapmetal market. Regulating the export of unprocessed metal would be a positive step to support #bestpractice #metalrecycling operations in Australia. https://lnkd.in/gt9CxkQ7