Day: July 12, 2021

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CNH Industrial announces senior Bus leadership appointment in new On-Highway busines

London, July 12, 2021

Further to the recent announcements for its On-Highway business, which is expected to begin operations in early 2022, CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces the following appointment: Domenico Nucera will head the Bus Business Unit, succeeding Sylvain Blaise, effective October 1, 2021.

Mr. Nucera has some 20 years of experience in the automotive industry, with a strong industrial background and roles of increasing responsibility on the business and manufacturing fronts. He served in the Powertrain Manufacturing function and, following his successful direction of FPT Industrial’s Turin Driveline and Engine plants, was promoted to Head of Quality and Product Support for Powertrain. He is currently responsible for Quality Powertrain and Head of Aftermarket Solutions for both Powertrain and Commercial & Specialty Vehicles.

“I would like to congratulate Domenico on this appointment. His broad qualifications, focus on customer service and work acumen have seen him prove himself as a capable and versatile manager, who understands how to address the needs of customers together with the demands of the shop floor,” said Gerrit Marx, designated CEO of the new On-Highway business.

“And to Sylvain Blaise, I want to thank you again for the tremendous work that you have done in taking our bus business forward during such a transformational moment for the mass transit sector. We are pleased to confirm that Sylvain will continue to represent our future Company in France, a key market in which we have been present for over a century with a pioneering role in public transport – where we are the current market leader – and in which the On-Highway business continues to foster a strong manufacturing and innovation footprint.”

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Media contact:

Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com

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Epicor Survey Finds Supply Chain Digital Acceleration is Critical to Fruitful Post-Pandemic Economy

As Tech Early Adopters, Midsize Organizations Predict Growth and Job Creation will Follow as 94% of Respondents Plan Cloud Adoption in 2021

Las Vegas, Nevada, July 12, 2021 (GLOBE NEWSWIRE) — News summary:

  • Cloud prioritization among midsize essential businesses accelerated from 25% consideration in 2020, to 94% adopting cloud this year.
  • 75 percent expect their business to be fully recovered from the impact of COVID-19 by 2022, 61% expect to expand in size and scale over the coming three years and 55% expect to create new jobs.

Epicor Software Corporation, a global provider of industry-specific enterprise software, today presented the findings from their annual Insights Report. The key takeaway is that leaders of midsize businesses across the supply chain are bullish about growth fuelled on investment in cloud-ready technologies.

The study exclusively surveys leaders from midsize1 businesses across the manufacturing, distribution and retail industries on the drivers of business growth over the coming year. The survey finds the nation’s most essential business leaders are not simply gearing up for a ‘bounce back’ year but rather, they are leaning into the accelerating forces of COVID-19 to ‘leap forward.’ The most significant indicator of progress is the radical swing in cloud adoption. In 2020, 25% of respondents declared cloud a strategic priority. In this year’s study, 99% of those surveyed confirmed they plan to move to the cloud, and 94% of them intend to do so this year.

“A key takeaway from this year’s study is the sea change in attitude toward cloud as a critical business accelerant. Leaders have moved from consideration to adoption. While the companies who make, move, and sell what is most essential to economic growth may be all aboard the cloud train, the data suggests their implementation needs vary vastly,” stated Steve Murphy, CEO Epicor Software Corporation, during his keynote address at the annual customer Insights conference. He added: “This is no longer a ‘why move’ conversation but rather a ‘how to move’ to gain advantage – which is exactly why Epicor will continue to prioritize partnership, and we are proud to share that our dedicated migration teams currently support over 75% of implementations, a number we expect to grow.”

Recognizing we have a vital role to play in supporting these essential businesses, Epicor prioritizes initiatives to address the needs and concerns of its customer base including, cybersecurity, implementation-as-a-service, total cost of ownership, and connectivity equity (read the blog post here).

The survey focuses on bringing to the forefront the voices of the essential businesses that keep the world turning and provides opinion from across the supply chain landscape. While the overwhelming message of digital acceleration is encouraging for the nation’s economic recovery and future growth, the data does provide signposts for the IT industry around the support these midsize essential businesses need to thrive. The full report can be accessed at epicor.com/industry, along with the summary fact sheet.

Survey Methodology

PSB conducted an online survey among n=1,250 IT decision-makers in the U.S. and the UK n=1,000 were based in the U.S. The interviews were conducted in English from February 22 to March 11, 2021.

The margin of error for the total sample is +/-2.77ppts and larger for sub-groups.

About Epicor Software Corporation

Epicor Software Corporation equips hard-working businesses with enterprise solutions that keep the world turning. For nearly 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Epicor’s innovative solution sets are carefully curated to fit customer needs and built to respond flexibly to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates every customer’s ambitions, whether to grow and transform, or simply become more productive and effective. Visit www.epicor.com for more information.

1 Decision-makers from midsize companies are representative of the manufacturing, distribution, and retail sectors with revenues between $20 million and $250 million were interviewed in March 2021.

Attachments

Raelle Alfaro
Epicor Software
raelle.alfaro@epicor.com
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Vietnam spends nearly 2 billion USD importing meat

Vietnam’s total import turnover of livestock products in the first six months of 2021 is estimated at 1.82 billion USD, a year-on-year increase of 8.9 percent.

The latest data from the Ministry of Agriculture and Rural Development showed that Vietnam imported about 70,000 tonnes of pork and pork products by the end of the first six months.

In addition, the import of milk and dairy products is estimated at 650 million USD (up 14.5 percent), raising the import value of meat, meat by-products and edible animal by-products to 727 million USD (up 51.5 percent).

The country imported 12,800 breeding pigs and over 2.2 million breeding poultry in the first six months of the year.

The main meat import markets of Vietnam are Russia, the US, India, the Netherlands and Poland.

Russia was the largest market supplying meat and meat products to Vietnam after the first five months of this year with 45,750 tonnes, worth 97.49 million USD, up 493.2 percent in volume and up 437.5 percent in value over the same period in last year.

The Tien Phong (Vanguard) newspaper quoted Nguyen Van Trong, Deputy Director of the Livestock Breeding General Department under the Ministry of Agriculture and Rural Development, as saying that due to the influence of African swine fever, the amount of imported pork from other countries to Vietnam increased sharply.

For example, Vietnam imported more than 141,000 tonnes of fresh, chilled or frozen pork last year, worth 334.44 million USD, up 382 percent in volume and 502.9 percent in value compared to 2019.

Trong said Vietnam had continued to maintain a large amount of imported pork from the beginning of the year until now, but in fact, foreign pork only accounted for about four percent of the total amount of meat in the country, so it was not a concern.

He also added that in the context of the COVID-19 pandemic, pork consumption is falling sharply, so it was forecast that the amount of meat imported this year would be less than last year.

As of June, the re-herd work of the livestock industry has achieved positive results – the pig herd increased by 11.6 percent with meat output reaching more than 2 million tonnes.

Cattle and poultry herds recovered with a total meat output of all kinds estimated at 3.16 million tonnes, a year-on-year growth of 22.58 percent.

The biggest concern then was for farmers. While the prices of products were low, production costs were high, plus the pandemic made it difficult to transport, meaning farmers are facing the risk of losses, Trong said.

He also said that live hog prices fell sharply, but consumers still had to bear high purchase prices.

The average price of pork in the markets is still at 120,000 – 130,000 VND (about 5 USD) per kilogramme.

The reason was that there were too many intermediary stages in the process of distributing pork to the market, leading to difficulties between the three stages of production, supply and consumption.

Source: Vietnam News Agency

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Petrol price up 850 VND per litre on July 12

The Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) announced the adjustment of petrol prices to be over 850 VND higher per litre at 3pm on July 12.

Accordingly, the price of bio-fuel E5 RON 92 is 20,610 VND per litre, an increase of 850 VND; and that of RON95-III, 21,783 VND, a rise of 867 VND per litre. The price per litre of diesel 0.05S is 16,537 VND, up 418 VND.

Meanwhile, the prices of kerosene and mazut are 15,503 VND per litre and 15,670 VND per kg, increasing 452 VND and 221 VND, respectively.

According to the two ministries, the prices of petrol and oil in the global market had been fluctuating, mostly increases, for the past 15 days.

Announcements regarding fuel price changes are scheduled every 15 days to keep up with swings in the global market.

Source: Vietnam News Agency

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Nearly 78 pct of manufacturing, processing firms expect stable, better performance in Q3

Some 39.2 percent of surveyed manufacturing and processing enterprises expect better performance in their production and business in the third quarter of 2021, and 38.6 percent believe to enjoy stable production and business, according to a survey recently conducted by the General Statistics Office (GSO).

Meanwhile, 22.2 percent of responded enterprises predict they may face more difficulties than the period quarter.

The GSO said that industrial production in the second quarter reported positive growth as production and business activities were maintained and gradually recovered, with the added value up 11.45 percent year-on-year.

In the first half of this year, the industrial sector’s added value is estimated to increase by 8.91 percent year-on-year, of which the manufacturing and processing industries grew by 11.42 percent.

At present, major groups are planning to invest in Vietnam, mainly in electronic production and component manufacturing.

As of June 30, the inventory rate of the manufacturing and processing industries increased by 24.3 percent year-on-year.

To address inventory and boost production, the Ministry of Planning and Investment proposed localities continue stepping up administrative procedure reform and simplifying specialised inspection procedures.

On June 1, the number of labourers working in industrial firms decreased by 1.4 percent month-on-month, and 1 percent year-on-year.

Source: Vietnam News Agency

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Biendong POC exceeds revenue target in H1

Bien Dong Petroleum Operating Company (Biendong POC), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), has reported that its revenue in the first six months of 2021 exceeded the set plan by four percent.

The company’s gas exploitation output reached 41 percent of the yearly plan.

After nearly eight years of operation, Biendong POC’s total accumulated revenue hit 3.88 billion USD, 311 million USD higher than the combined investment and operation cost.

With synchronous measures, Biendong POC has overfulfilled most of its targets in the period.

The application of modern technology in management and administration as well as production has helped the firm improve its production and business activities despite complicated developments of the COVID-19 pandemic.

According to Sergey Raykhert from Gazprom, its partner, Biendong POC has safely and effectively operated rigs amid difficulties caused by the COVID-19 pandemic in the first half of 2021.

General Director of Biendong POC Ngo Huu Hai said the enterprise will continue with comprehensive solutions to ensure its stable operation in the remaining months of the year.

Source: Vietnam News Agency

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VinFast officially becomes operational in North America, Europe

The VinFast Commercial and Services Trading Co. Ltd officially put its branches in the US, Canada, France, Germany, and the Netherlands into operation on July 12.

The move aims to prepare for the debut of Vinfast’s electric cars in those markets and is a step towards the goal of turning VinFast into a global smart electric car manufacturer.

The US, Canada, France, Germany, and the Netherlands are five key markets in the firm’s business expansion plan.

VinFast has reportedly worked to quickly complete its operation apparatus in these countries over the past year.

Apart from the key management posts held by Vietnamese, the company has recruited a number of experienced automobile and business experts from major car makers like Tesla, BMW, Porsche, Toyota, and Nissan to complete its system, expand the network of partners, and prepare for the debut.

Vinfast has also tailored its business strategies to the specific characteristics of each market.

The Vietnamese car maker is set to launch two smart electric car models, VF e35 and VF e36, globally in March 2022.

CEO of the company Thai Thi Thanh Hai said VinFast considers North America and Europe’s road maps for banning internal combustion engine cars to switch to electric vehicles as a great chance for it to conquer global markets.

Earlier, its first electric car model, VF e34, set a record in the Vietnamese market when over 25,000 orders were made in just a short period of time after the launch.

Source: Vietnam News Agency

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IFC helps boost green credit in Vietnam

The International Finance Corporation (IFC) has provided a 100 million USD long-term loan for the Orient Commercial Joint Stock Bank (OCB) to increase the private sector’s contributions to green and sustainable growth in Vietnam.

IFC’s investment will help OCB improve its outreach to small and medium enterprises (SMEs) in Vietnam, which are facing a financing gap of 21 billion USD, equivalent to 11.2 percent of the country’s GDP.

With this support, OCB expects to double its SME lending portfolio by 2024 by leveraging its digital banking platform and developing products that cater to the sector’s needs.

Some areas that SMEs are seeking financing for include renewable energy, energy efficiency, and climate-smart solutions, which can help them grow sustainably while contributing to reducing greenhouse gas (GHG) emissions.

The current share of climate financing – as a percentage of total bank financing – in Vietnam is just about 5 percent or 10.3 billion USD and is expected to increase significantly in the coming years. As the country aims to reduce GHG emissions by 9 percent by 2030 to mitigate climate change impact, this presents a 753 billion USD climate-smart investment opportunity for Vietnam between 2016 and 2030, according to an IFC study.

To help OCB tap into this huge lending potential, 50 million USD of the funding will be earmarked for climate-friendly projects, creating new options for businesses to obtain green financing.

While the State Bank of Vietnam has been promoting green banking over the past few years, the climate-finance market is still young and banks are now considering a systematic approach toward climate finance.

“IFC sees banks as a major force in fighting climate change in emerging markets such as Vietnam since they can strategically expand financing for climate-smart initiatives,” said Kyle Kelhofer, IFC Country Manager for Vietnam, Cambodia, and Laos.

“By supporting commercial banks in Vietnam to establish a viable climate-finance portfolio, IFC is facilitating the development of a climate-finance market, attracting international lenders and further supporting Vietnam’s shift to a low-carbon and resilient growth model.”

Source: Vietnam News Agency