The most gripping private equity tale of 2017? Japanese tyre firm agrees £215m takeover deal for British counterpart

The most gripping private equity tale of 2017? Japanese tyre firm agrees £215m takeover deal for British counterpart whatsapp whatsapp William Turvill Graphite said the sale represents a 3.7 times return on its individual investment. The private equity house originally backed the company in 2008 as part of an £85m management buy-out.Read more: Sparkling plan: Jewellery company owner considering float as well as saleDuring this time, MTS, the UK’s second largest distributor of car, 4X4 and motorcycle tyres, has made 36 bolt-on acquisitions and grown its Protyre retail chain from 16 to 99 outlets.Its turnover has increased from £150m to £320m, while its headcount has gone from 500 to 1,600.“Graphite has been a highly supportive owner of MTS and helped us drive the expansion of the business,” said MTS chief executive Duncan Wilkes. “SRI is fully committed to the UK market and to supporting our proven approach to growing the business. Share Thursday 5 January 2017 1:56 pm A Japanese tyre company has agreed a £215m takeover deal for a UK counterpart.Private equity firm Graphite Capital today announced the sale of Micheldever Tyre Services (MTS) to Sumitomo Rubber Industries (SRI), Japan’s sixth largest tyre manufacturer. Read more: Play time’s over: 3i sells Scandinavian toy company“Today’s transaction ensures continuity of both management and of our successful multi-brand, multi-segment strategy. We look forward to working with SRI in the further development of the business.”Graphite senior partner, Markus Golser, said: “MTS is a high-quality business run by an exceptional management team.“Under our ownership, the company has consolidated its leading position in the UK and it remains extremely well placed to take advantage of the substantial growth opportunities in the tyre wholesale and retail markets.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySportPirateMeet The Woman Catherine Bell Is Dating At 52SportPirateMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped Speed read more

Venture Capital funding hits record high

first_img Sebastian McCarthy Venture Capital funding hits record high Funding in VC rose to £4.3bn during the first half of 2019, rising 45 per cent on the same period last year. Technology has been the clear winner, attracting 60 per cent of all VC funding over six months, rising year-on-year from 44 per cent. According to the findings, collated by a Savills serviced office venture called Workthere, the increased VC investment has generated growth in the take up of flexible workspaces. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com The average deal size for UK VC investment doubled to £5.9m in the first half of the year with 724 deals recorded, compared with 1,147 in the first six months of 2019. She added: “Moving forward, this is definitely an interesting sub-sector to watch in terms of expansion outside of their primary London offices into wider UK markets.” London enjoyed a particular boost in VC activity, with an 81 per cent rise in investment. Read more: Barclays stops banking cryptocurrency exchange coinbase “Last year it was all about healthcare, but this year tech is the most popular sector for VC investors. In particular, the sub-sector that is really driving growth is fintech, which has accounted for eight out of the top ten funding deals so far this year, compared to just three last year,” said Jessica Alderson, global research analyst at Workthere. Wednesday 14 August 2019 6:17 pm Share Freddie Ward, associate director at Workthere, said: “While overall VC investment in the UK has outpaced flexible office take up this year, there are some very obvious exceptions in the form of London, Aberdeen, Bristol, Edinburgh and Cambridge, where there seems to be a distinctive link between the two figures.” Venture capital (VC) funding in the UK soared to a record high during the first half of this year, bolstered by a growing appetite for tech investments. whatsapp whatsapplast_img read more

NORAD ready to track Santa’s Christmas Eve flight around the world despite pandemic

first_imgAdvertisement AdvertisementTags: NORADpandemicSanta Claus Advertisement Chicago man jumps into Lake Michigan for 365 days straight during pandemic June 15, 2021 RELATEDTOPICS The holidays are going to be a little different this year because of the coronavirus pandemic, but NORAD said it will be ready to track Santa Claus and his reindeer as they make their annual flight.The North American Aerospace Defense Command, which is responsible for protecting the skies over the US and Canada, said it will be ready to follow Santa on December 24 as he flies from the North Pole to visit children’s houses all over the world.This will be the Santa Tracker’s 65th anniversary, CNN reports. It dates back to a typo in a 1955 Sears ad and an Air Force officer, who’s now known as the “Santa Colonel.”NORAD was even able to keep the tradition going during the 2018 government shutdown. AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Orlando International Airport welcomes first transatlantic flight since pandemic June 3, 2021 AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments RSW sees near-record passenger count in April May 19, 2021 NORAD also plans to launch a new Apple and Android apps and will have updates and games on the NORAD Tracks Santa website starting next month.The-CNN-Wire™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. University cancels over $700k in student loans for graduates hit by pandemic May 17, 2021 AdvertisementNormally, hundreds of volunteers staff a special call center at Peterson Air Force Base in Colorado Springs, Colorado, to update children who call 1-877-Hi-NORAD from all over the world on Santa’s location, according to CNN.This year, there will be a smaller number of volunteers answering calls to reduce the potential risk of spreading the virus.People who can’t get through to a volunteer will hear a recorded message with Santa’s latest location.last_img read more

Election Diary: All the President’s men, road repairs in Rosenallis and Mountmellick litter bins

first_img GAA Election Diary: All the President’s men, road repairs in Rosenallis and Mountmellick litter bins WhatsApp Facebook By John Whelan – 29th April 2019 Home Politics Local Elections Election Diary: All the President’s men, road repairs in Rosenallis and Mountmellick… PoliticsLocal ElectionsNews WhatsApp Brought to you in association with People First Credit UnionRoad repairs in RosenallisCllr David Goodwin has asked the Council to carry out road repairs and re-surface the road at Gurteen, Rosenallis.The Area Engineer, Stan Cullen told him that the road in question is included in the Multi Annual Road Strengthening Programme for 2019 to 2021 and that interim repairs will be carried out in the coming weeks.Cllr Goodwin said: “This is a significant little road even though it is a narrow and short stretch of road it goes up to the Festival Field and to the Glenbarrow Waterfall and is very important for tourism in the locality.” Twitter Two former GAA Presidents meet on campaign trail Pictured are former G.A.A Presidents Liam O’Neill and Sean Kelly, M.E.P who met on the campaign trail recently. Photo Denis ByrneThe posters are up and there is no mistaking the canvassing is in full swing. You would never know who you might bump into around the next corner.Two former GAA Presidents had one such encounter when they were out meeting and greeting the public this week in Manor Stone, Ballacolla.Both Liam O’ Neill and Seán Kelly served in the GAA’s top job with distinction and they are both contesting the upcoming elections, but they are on opposing teams on this occasion.Liam the retired school principal from Trumera is running for the Council on the Fianna Fáil ticket, while Seán Kelly is seeking re-election to the European Parliament for Fine Gael in the newly reconfigured Ireland South constituency.We’re not sure if the constituency is being divided up by the Fine Gael candidates for canvassing purposes as Minister Charlie Flanagan was spotted pressing the flesh on Friday in Portlaoise with Andrew Doyle from Wicklow who is also an FG candidate in the massive Ireland South constituency.Mountmellick litter binsCllr Paddy Bracken has called on the Council to replace the street bins at Harbour Street/Horan’s Pub and in front of the Arts Centre in Parnell Street in Mountmellick.Area Engineer, Stan Cullen told him that a survey of bins will be undertaken and any damaged bins will be replaced.To which Cllr Bracken replied that there was no need for any survey as the bins were badly damaged and in tatters.He was assured that in that instance they would be replaced.SEE ALSO – Laois-born USA police commissioner laid to rest 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin TAGSElection Diary Here are all of Wednesday’s Laois GAA results Pinterest Pinterest Cllr Goodwin was also told that they had carried out road repairs he requested at Brittas in Clonaslee.In a related matter Cllr Seamus Mc Donald asked the Council to erect ‘No Dumping’ signs at the Green Road in Rosenallis. He said that illegal dumping in this location was an eyesore on the way to Glenbarrow. GAA Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR GAA Previous articleDeaths in Laois – Monday, April 29, 2019Next articleThe man behind the mask gives his reason behind ditching posters for his inventive alternative John WhelanJohn Whelan has been a journalist, commentator, columnist, political analyst, campaigner, politician and publisher ever since he was 17. Having been Editor of the Leinster Express, Offaly Express and the Leinster Leader he has also contributed extensively on a number of issues to all of the country’s flagship titles and programmes including the Irish Press, The Irish Independent, the Star, the Sunday Independent, the Sunday Business Post, The Sunday Times and Prime Time. He is founder of Communicate Ireland a PR, public affairs, event management and media services company.He is the author of the popular camping blog, Vanhalla – Camper Heaven.last_img read more

IGM added to FTSE4Good index

first_img Winnipeg-based IGM Financial Inc. has been added to FTSE Russell’s performance index of companies that demonstrate strong environmental, social and governance (ESG) practices. Facebook LinkedIn Twitter Share this article and your comments with peers on social media The firm’s inclusion into the FTSE4Good index series follows an assessment that recognized its strong corporate performance in areas such as climate change, labour standards, human rights, corporate governance, risk management and anti-corruption, according to an IGM announcement released on Friday. “We are pleased to be identified by FTSE Russell as a company with holistic ESG practices and to be included in this globally recognized index,” says Andrea Carlson, vice president of finance and corporate responsibility with IGM, in a satement. “The FTSE4Good index facilitates investment in companies recognized for doing business in a responsible way.” IGM is one of 25 Canadian companies and of 824 companies globally that make up the index. Photo copyright: weerapaty/123RF weerapaty/123RF Tessie Sanci Companies IGM Financial Inc. last_img read more

Containers for Change sees 120 million returns in first 100 days

first_imgContainers for Change sees 120 million returns in first 100 days More than 120 million containers returned in first 100 days of Containers for ChangeMore than $500,000 has been donated for charities and community groups through the schemeDaily average for first week of January was 2.6 million – that is one container per person per day Refund rates continue to grow month on month Western Australians returned more than 120 million containers and donated over half a million dollars for community groups and charities in 2020-21 as part of the McGowan Government’s container deposit scheme, Containers for Change.Launched on October 1, 2020, Containers for Change gives Western Australian’s an opportunity to return eligible drink containers for a 10-cent refund. Tomorrow, Saturday, January 9, 2021 marks 100 days since scheme launch.Since its introduction more than 120 million containers have been returned to Western Australia’s 212 refund points. All those containers lined up would go from Albany to Kununurra and back.More than 4,100 tonnes of glass, 600 tonnes of aluminium and 400 tonnes of PET plastic will be recycled from containers collected during the first 100 days of the scheme’s operation.Containers for Change has also seen more than $500,000 donated via scheme ID for 3,000 community groups and charities. This includes WA charity Wheelchairs for Kids, which has raised almost $10,000.The volunteer-based not-for-profit organisation provides wheelchairs to children with disabilities in impoverished and under-resourced communities in Australia and around the world.More than 680 local jobs have been created at Containers for Change refund points, with many filled by people with disability, the long-term unemployed, and Aboriginal people. Over the next 20 years, it is estimated the scheme will recycle an additional 6.6 billion containers, keeping about 5.9 billion of those containers out of landfill and 706 million containers from being littered.Further information about Containers for Change can be found at https://www.containersforchange.com.auAs stated by Environment Minister Stephen Dawson:“Containers for Change has been widely supported since it was introduced 100 days ago and West Australians really do deserve praise for ensuring the success of this new recycling scheme.“However, we are still seeing containers end up in litter and landfill, so we all need to do our bit to recycle them through the scheme.“We need to change our thinking about what we do with waste. Drink containers made from glass, aluminium, plastic and liquid paperboard are resources that can be turned into new products, they do not belong in the bin.“Containers for Change gives Western Australians an opportunity to be involved in a community-focused recycling scheme that offers community groups and charities another fundraising avenue.“With half a million dollars already donated through the scheme, I encourage charities and community groups to use their scheme IDs and get involved.“One such example is Wheelchairs for Kids who have used their scheme ID to raise almost $10,000 towards their worthy cause.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Aboriginal, Australia, Australian, charity, children, community, environment, Government, Kununurra, launch, Minister, operation, recycling, resources, WA, Western Australialast_img read more

Surge testing to be deployed in targeted areas in Buckinghamshire and Lambeth

first_imgSurge testing to be deployed in targeted areas in Buckinghamshire and Lambeth Working in partnership with the local authorities, additional testing and genomic sequencing is being deployed to targeted areas within the HP10 postcode in Buckinghamshire and SW8 and SW9 postcodes in Lambeth, where the COVID-19 variant first identified in South Africa has been found.The increased testing is being introduced in addition to existing extensive testing and, in combination with the current lockdown rules and remembering ‘hands, face, space’ advice, will help to monitor and suppress the spread of the virus. Positive cases will be sequenced for genomic data to help understand COVID-19 variants and their spread within these areas.People living within targeted areas in these postcodes are strongly encouraged to take a COVID-19 test when offered, whether they are showing symptoms or not.People with symptoms should book a test in the usual way, and those without symptoms should visit their local authority website f /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Africa, covid-19, Government, lockdown, South Africa, space, testing, UK, UK Government, virus, visit, websitelast_img read more

All future McLaren models, minus special editions, will be hybrids

first_img The Rolls-Royce Boat Tail may be the most expensive new car ever COMMENTSSHARE YOUR THOUGHTS RELATED TAGSMcLarenCoupePerformanceSupercarSupercarsNew VehiclesPerformance VehiclesSupercars Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” Trending in Canada “We will be selective. Autonomy in its own right isn’t that appealing to our customers, but we need to have capabilities designed in for safety, legislation and emissions,” Flewitt says.  Trending Videos PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca center_img Created with Raphaël 2.1.2Created with Raphaël 2.1.2 McLaren 570S with winter tires We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. See More Videos advertisement The next generation of McLaren supercars will almost entirely be composed of hybrid powertrain cars. A hybrid powertrain will be mandatory in all of McLaren’s core models, and only limited-edition track specials like the Senna and BP23 will escape the battery assimilation. “Hybrid design is part of the next platform – it is designed-in from day one rather than having to adapt an existing chassis,” McLaren boss Mike Flewitt said in an interview with Autocar. The first model on the new platform will be the next-generation 570S, which will debut in 2019. Replacements for all the remaining models in McLaren’s lineup will trickle in as they are replaced. The hybrid replacement for the 720S will be the last to receive a battery pack, likely in 2022. As if every McLaren wearing a lithium-ion fanny pack wasn’t heresy enough, the company stated it will introduce measured amounts of autonomous driving capabilities to its cars. Like the hybrid powertrains, these are not being added to make the cars faster or more enjoyable, but because they are the only way to satisfy the legislators.  ‹ Previous Next ›last_img read more

Increasingly mobile sea ice risks polluting Arctic neighbors

first_imgCategories:EnvironmentNews Headlines Sea ice at the North Pole in 2015. (Credit: Christopher Michel) Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail The movement of sea ice between Arctic countries is expected to significantly increase this century, raising the risk of more widely transporting pollutants like microplastics and oil, according to new research from CU Boulder. The study in the American Geophysical Union journal Earth’s Future predicts that by mid-century, the average time it takes for sea ice to travel from one region to another will decrease by more than half, and the amount of sea ice exchanged between Arctic countries such as Russia, Norway, Canada and the United States will more than triple. Increased interest in off-shore Arctic development, as well as shipping through the Central Arctic Ocean, may increase the amount of pollutants present in Arctic waters. And contaminants in frozen ice can travel much farther than those in open water moved by ocean currents. “This means there is an increased potential for sea ice to quickly transport all kinds of materials with it, from algae to oil,” said Patricia DeRepentigny, doctoral candidate in the Department for Atmospheric and Oceanic Sciences. “That’s important to consider when putting together international laws to regulate what happens in the Arctic.” Historically, floating masses of Arctic sea ice could survive for up to 10 years: building up layers, lasting through each summer and not moving very far during any given year. As the climate warms, however, that pattern has been changing. While overall, the sea ice cover is thinning—and melting entirely across vast regions in the summer—the area of new ice formed during winter is actually increasing, particularly along the Russian coastline and soon in the Central Arctic Ocean. This thinner ice can move faster in the increasingly open waters of the Arctic, delivering the particles and pollutants it carries to waters of neighboring states.“Ice moves faster, but as the climate warms, it doesn’t have as much time as before to travel before it melts,” said DeRepentigny. “Because of that, we really see that it’s the regions that are directly downstream of each country’s waters that are going to be most affected.” Different emissions scenarios   The Arctic Ocean is covered by a dynamic layer of sea ice that grows each winter and shrinks each summer, reaching its yearly minimum size each fall. This image was compiled using data gathered by NASA’s Aqua satellite on Sept. 3, 2010. (Credit: NASA Goddard Space Flight Center)  In three of these four situations—including both mid-century predictions—the movement of sea ice between Arctic countries increased. But in the high emissions scenario at the end of the century, they found countries could end up dealing more with their own ice and its contaminants, than ice from their neighbors. This is because with 4 degrees or more of warming in 2100, the majority of sea ice that freezes during winter will melt each spring in the same region where it was formed. Russia and the Central Arctic Russia’s exclusive economic zone and the Central Arctic Ocean are two places the researchers expect more ice to form, becoming major “exporters” of ice to other regions in the Arctic.An exclusive economic zone (EEZ) is an area extending 200 nautical miles from the coastline, over which a state has special rights regarding fishing, shipping, and industrial activities like offshore oil drilling.  Five countries have exclusive economic zones in the Arctic Ocean: Canada, the United States, Russia, Norway and Denmark (Greenland). DeRepentigny and her colleagues found that the amount of ice originating from Russia that then melts in another exclusive economic zone doubles by mid-century. However, the Central Arctic in the middle of the Arctic Ocean is a place where no country has exclusive economic rights. Due to the Arctic Ocean being more ice free in summers, this will become an attractive shipping route – especially because ships don’t need to get permission from another country to travel through it. “That has several implications,” said DeRepentigny. “Who’s responsible for contaminants and materials that melt in the Central Arctic or get exported out of the Central Arctic into different countries? It’s no longer just a national question.” Additional co-authors of this research include Alexandra Jahn at the University of Colorado Boulder, L. Bruno Tremblay at McGill University and Columbia University, Robert Newton at Columbia University, and Stephanie Pfirman at Arizona State University. As ice forms, it can incorporate particles from its environment, including microplastics, oil, heavy metals and other pollutants. (Credit: Pixabay) In a previous study, DeRepentigny and her colleagues examined the movement of Arctic sea ice from the instrumental record starting in 1979, when the first continuous satellite observations began. That study was the first to document an increase in the amount of sea ice being transported from one region to another over the last four decades. “That was really eye opening,” said DeRepentigny. “The follow-up question then was: How is this going to play out in the future? It opened a really big box of new questions.” So the researchers used a global climate model, together with the Sea Ice Tracking Utility (SITU)—which DeRepentigny helped develop—to track sea ice from where it forms to where it ultimately melts during the 21st century. The researchers considered two different emissions scenarios: the more extreme “business as usual” scenario, which predicts warming of 4 to 5 degrees Celsius by 2100, and a warming scenario limited to 2 degrees Celsius, inspired by the Paris Agreement. They then modeled how the sea ice will behave in both these scenarios at the middle and the end of the century.  Published: March 18, 2020 • By Kelsey Simpkins last_img read more

Cocoa Industry must focus on Value-Added

first_imgCocoa Industry must focus on Value-Added AgricultureMarch 21, 2012 FacebookTwitterWhatsAppEmail Minister of Agriculture and Fisheries, Hon. Roger Clarke, said that focus must be placed on value-added activities in the cocoa industry in order to move the sector forward. He was speaking at the launch of the Re-engineering the Cocoa Rural Economy through Agro-processing Eco-Tourism and Entrepreneurship Project (RECREATE) on March 20 at the Ministry’s Hope Gardens headquarters in Kingston. While expressing appreciation to the European Union (EU) and the United States Agency for International Development (USAID) for helping to boost cocoa production over the past two years, Mr. Clarke stated that, “though we are excited about the increase in production…we ought not to be exporting cocoa beans and then importing expensive chocolate bars”. He said the Government is therefore committed to the divestment of the commercial assets of the Cocoa Industry Board and the deregulation of the marketing of cocoa, in order to attract investment in the production of higher value products. “The process has begun, and we are moving full speed ahead…we are however conscious that value-added activities must be based on a firm production foundation (therefore) throughput must be maintained and production at the primary level must be efficient if we are going to compete,” the Minister stated. Meanwhile, he noted that over the past two years, through the EU and the USAID, nearly 2,000 acres of cocoa were rehabilitated, benefitting some 520 farmers, and providing substantial support to the Cocoa Growers Association. “This has had the impact of moving production up substantially, with production in the first quarter of this crop up to December 2011, surpassing the total crop (for) the year before,” Mr. Clarke said. He pointed out that although cocoa production has declined significantly from previous years, approximately 200 tonnes were produced last year. This is against the background of a guaranteed market of 14,000 tonnes, and the doubling of cocoa prices on the world market between 2005 and 2010. RECREATE is a €350,000 EU-funded project, which will benefit the parishes of St. Thomas, St. Mary, St. James, St. Catherine, Clarendon, and Portland, up to 2013. Extra special varieties now at Orange River, St. Mary and Montpelier, St. James will be improved and expanded, while private entrepreneurs will be encouraged to operate nurseries. A total of 60 persons are to be trained and employed in nursery-related activities, with the nurseries producing some 200,000 plants for the planting of 500 new acres, which could in five years, produce 600 metric tonnes of cocoa for export. Mr. Clarke noted that in the planting phase of the project, some 50 persons are to be employed, and some 300 acres are to be rehabilitated in Clarendon and St. Catherine. He further informed that, “as we try to assist in the development of the entrepreneurial spirit in the project areas, approximately 25 persons will be trained in business basics and entrepreneurship mainly in the cottage industry and in value-added areas”. Overall, close to 200 persons will be trained and employed in the various phases of the project. Minister Clarke pointed out that Jamaica’s cocoa is among the best in the world, and is in fact, among only eight countries with the designation of “fine flavoured” cocoa. The launch also featured the handing over ceremony for beneficiaries of a previous coco rehabilitation project, which was also funded by the EU. RelatedCocoa Industry must focus on Value-Added RelatedCocoa Industry must focus on Value-Added Advertisements By Alphea Saunders, JIS Reporter RelatedCocoa Industry must focus on Value-Addedlast_img read more