Commercial Vehicle Group Inc. (CVG) Resumes Operations in Shanghai, China, After COVID Interruption

CVG is one of many businesses affected by the large-scale government lock-downs in Shanghai that began in March as a result of rising COVID-19 cases

Featured Image for Commercial Vehicle Group Inc.

Featured Image for Commercial Vehicle Group Inc.

NEW ALBANY, Ohio, May 26, 2022 (GLOBE NEWSWIRE) — CVG announced on Thursday that it has restarted operations at its Shanghai plant in China. In March, the company became one of thousands of manufacturers in the region that were forced to halt production as the result of restrictions aimed at stemming the spread of COVID-19.

Production at the Shanghai plant resumed on May 20 at 50% capacity under a “closed-loop” system — where employees must receive a negative COVID test and then live on-site within the factory — to minimize the risk of spreading the virus within the city.

CVG plans to continue ramping up production over the next few weeks in accordance with the local lifting of restrictions, led by Deputy Mayor of Shanghai Zong Ming, who has stated that the city hopes to fully open in June.

The shutdown in March had immediate impact on CVG’s OE seating customers in Asia and abroad, who were either facing similar manufacturing restrictions or unable to ship and receive products due to congestion in Shanghai’s port, which is the largest port in the world. CVG responded quickly, moving to air shipping to limit supply chain disruptions for its customers. The company was recently able to reinstate ocean freight through both the Shanghai and Ningbo ports.

“We may not have control over this pandemic or the delays in production it causes, but we can adapt quickly and create alternate solutions to mitigate the impacts,” said CVG President and CEO Harold Bevis. “We’ve had our customers’ needs front-of-mind in every decision we’ve made — from providing alternate means of shipping to working closely with some of our top customers to mirror production in our Thailand and Mexico operations in order to provide alternate supply.”

CVG’s local seat production in Asia includes the manufacturing of medium- and heavy-duty seating solutions for some of the region’s largest vehicle manufacturers and represents an $80 million accretive business for the company. Globally, seat-part supply from Shanghai impacts $170 million worth of production for the company within the U.S., Mexico, UK, Thailand and Australia.

In combination with the war in Ukraine which immediately impacted production at the company’s facility in L’viv, CVG faced first-quarter interruptions that have continued into the second quarter. CVG is actively resolving these setbacks and expects second-half operations to be back to pre-war, pre-COVID status, barring any new unforeseen events.

About CVG

At CVG, we deliver real solutions to complex design, engineering and manufacturing problems across a range of global industries by innovating, constantly adding value, and treating our customer’s bottom line as if it were our own. Information about our company and products is available at www.cvgrp.com.

Media Contact
Jason Gray
Marketing Manager
CVG
Jason.Gray@cvgrp.com

Related Images

Image 1

This content was issued through the press release distribution service at Newswire.com.

Attachment

WillScot Mobile Mini Holdings to Participate in the Barclays Business Services ESG Summit

PHOENIX, May 25, 2022 (GLOBE NEWSWIRE) — WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), the North American leader in modular space and portable storage solutions, today announced that Brad Soultz, Chief Executive Officer and Nick Girardi, Sr. Director of Treasury & Investor Relations, will participate in a fireside chat during the 2022 Barclays Business Services ESG Summit on Wednesday, June 8, 2022.

About WillScot Mobile Mini Holdings

WillScot Mobile Mini Holdings trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible workspace and portable storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of over 275 branch locations and additional drop lots throughout the United States, Canada, Mexico, and the United Kingdom.

Additional Information and Where to Find It

Additional information can be found on the company’s website at www.willscotmobilemini.com

Contact Information

Investor Inquiries:

Nick Girardi
nick.girardi@willscotmobilemini.com

Media Inquiries:

Scott Junk
scott.junk@willscotmobilemini.com

Dominica government relentlessly working to build climate-resilient communities

Roseau, May 25, 2022 (GLOBE NEWSWIRE) — The government of Dominica continues to invest in climate-resilient housing as it moves ahead with the goal of becoming the “world’s first climate-resilient nation”. The country, which witnessed many natural disasters over the years, is now focusing on building a resilient infrastructure capable of withstanding a natural- calamity, including category five hurricanes.

The Commonwealth of Dominica, popularly known as the Nature Isle of the Caribbean, is a small island with beautiful, mesmerizing, and stunning nature gems. The Caribbean island has witnessed several startling natural calamities, including Hurricanes and Tropical Storms.

Despite being a small island country with a population of about 70,000, Dominica is at the forefront of the war against climate change. After Hurricane Maria made landfall in Dominica in 2017 and affected around 90 percent of the infrastructure, Prime Minister Dr. Roosevelt Skerrit vowed to rebuild the country as the “world’s first climate-resilient nation”.

Since then, the government of Dominica has been working relentlessly to build climate-resilient infrastructures, including schools, houses, hospitals, health care centres, and shelters. The revolutionary “Housing Initiative” has been delivering climate-resilient homes to people displaced because of Tropical Erika and Hurricane Maria in 2015 and 2017 respectively.

The housing units have been developed in the various regions of the Caribbean country, including Cotton Hill, Georgetown, Jimmit, Roseau City Square, Bellevue Chopin, Castle Bruce, San Sauveur, Grand Fond, La Plaine, and Delices. At the same time, several housing units are still under construction in some areas such as Scotts Head, Eggleston, Canefield, Marigot, as well as Plat Ma Pierre.

Reportedly, the government has handed over the keys to about 1,500 families over the period of four (4) years, to the families who were displaced because of Hurricane Maria.

Prime Minister of Dominica, Dr. Roosevelt Skerrit, during an event in 2019 stated that “the government of Dominica will not rest until every Dominican has a resilient roof over their heads,”.

The Minister of Housing and Urban Development, Reginald Austrie, congratulated and praised the efforts of the government for such development initiatives and massive investment into the housing sector.

Recently, the government of Dominica announced that an integrated community will be constructed in the Grand Bay constituency. The newly announced Grand Bay Ville Housing Development will be a master-planned concept. The housing unit will witness more than 100 standalone houses and 29 empty plots. The majority of the housing units will have three bedrooms, two toilets, and bathrooms, a kitchen with a dining room, a living room, a laundry area, as well as a porch.

The project has been undertaken by MMCE Development Ltd. Besides this, sixteen more homes are planned for Eggleston.

Earlier, in February 2022, the Salybia constituency saw the beginning of the construction of around 40 houses. The government has announced that these 40 houses will have the capacity to bear the devastating impacts caused by hurricane-force winds and seismic activities.

Meanwhile, in mid-2021, the residents of Dominica were informed about the building of around seven housing units in Marigot. The units are under-construction and soon will be handed over to the families.

While announcing the project, Gregory Riviere -Minister of State in the Ministry of Finance, Economic Affairs and Planning, stated that more than thirty residents of Marigot would benefit from the new homes upon completion of these housing units.

The housing units will feature three bedrooms, one living room, a kitchen, a bathroom, and toilet facilities.

“It is the first time the government of Dominica has started, and of course will complete, the construction of homes for the people of Marigot. These homes will be climate-resilient and are part of the government’s housing revolution project. I am glad that the Marigot people are very very happy to be part of the process,” Riviere underlined.

The government of Dominica has been following the newly adopted “Disaster Resilience Strategy”, which promises to provide a comprehensive plan. As per the government, the cost of funding the interventions outlined in the Disaster Resilience Strategy (DRS) is approximately US$2.8 billion.

The construction of the climate-resilient housing units has been partly or completely funded by the Citizenship by Investment Programme of Dominica.

The CBI Programme of Dominica is one of the longest-running, fastest, and most secure in the world. The programme has been top-ranked for five consecutive years by the CBI Index, published by the Financial Times’ Professional Wealth Management (PWM) magazine.

Launched in 1993, the programme is renowned for its strict and robust due-diligence procedure. The government of Dominica emphasizes the overall integrity of its applicants and ensures the credibility of the applicants by hiring renowned independent third-party agencies to perform due diligence checks.

To get alternative citizenship from Dominica, the applicant can invest via two investment options: Economic Diversification Fund (EDF) and Real Estate.

  • Economic Diversification Fund (EDF): To apply for the alternative citizenship of Dominica, the applicant may invest in the EDF. This government fund option assists the socio-economic initiatives in the country, including the construction of climate-resilient homes, health centres, schools, playgrounds, and more.

Minimum Investment: USD 100,000

  • Real Estate: The applicant has to purchase a Government-approved property to invest under the real-estate option.

Minimum investment: USD 200,000

Dominica boasts its nature with 365 rivers, innumerable waterfalls, and the world’s second-largest hot spring – the boiling lake. The Nature Isle of the Caribbean is undoubtedly one of the best travel destinations, which offers facilities like – hiking, bird-watching, canyoning, trekking, whale-watching, and relaxation in natural hot springs.

The beautiful nation of the Caribbean was completely devastated after the category five hurricane, Hurricane Maria. The natural disaster disturbed the livelihoods of around 90 percent of the population. After Hurricane Maria, Dominica was torn apart in the span of a single night.

Following the catastrophe caused by the hurricane, PM Skerrit pledged to build the climate-resilient nation, and soon after, the Climate Execution Agency for Dominica (CREAD) was created. In May 2020, the Cabinet of Dominica approved the Disaster Resilience Strategy as an Annex to the Climate Resilience and Recovery Plan (CRRP).

PR Dominica
Commonwealth of Dominica
001 (767) 266 3919
cbiusecretary@dominica.gov.dm

Investments & Wealth Institute Releases ‘Defining Wealth Management’ Report

The report defines knowledge and skills required of professional wealth management practitioners and serves as a blueprint for teams and firms to deliver competent, ethical advisory services to the public.

Denver, Colorado, May 25, 2022 (GLOBE NEWSWIRE) — The Investments & Wealth Institute’s (the Institute) 2022 ‘Defining Wealth Management’ report will be included as a special supplement to the March/April issue of the Institute’s Investments & Wealth Monitor, which will be published this month. The report serves as a blueprint for sole-proprietor practitioners, teams, firms or enterprises that aim to deliver competent, ethical wealth management services to the public.

Over the past three years, the Investments & Wealth Institute, in partnership with third-party psychometric partners, has commissioned several studies to define the knowledge and skills required for practitioners working within wealth management teams and firms. These studies have provided insight into industry trends and have helped the Institute to fulfill its non-profit purpose to develop and encourage the practice of high standards of professional conduct and to promote and protect the interests of the profession and the public it serves.

“We have seen wealth management teams evolve to better serve the sophisticated and complex needs of the clients they serve,” said Sean R. Walters, CAE®, chief executive officer of the Institute. “The team approach, integrating foundational process competencies like financial planning with advanced certifications in investment consulting, private wealth advice, and retirement management, leads to a more complete offering of wealth management services and advice to clients.”

Voluntary certifications enable advisors to obtain and demonstrate the knowledge and skills necessary to perform different jobs within a wealth management firm, while allowing advisors to differentiate their unique expertise. Wealth management professionals today must exhibit capabilities surrounding three distinct jobs that comprise a wealth management practice:

“In the U.S. at least, the regulatory structure is focused more on products and services, and less on professional competencies,” said Walters. “Voluntary certifications shouldn’t replace regulation – they should transcend and include the regulatory framework. We do this by applying sound psychometric methodologies that codify the standards that are needed to perform a job within a wealth management firm or team.”

Advisory professionals must expand expertise on all forms of strategies, styles, products,’ and behavioral biases related to investing to serve their clients. Investments & Wealth Institute professional certifications and educational programs help advisors deliver that value every day.

Click here to read the full report.

About Investments & Wealth Institute
Founded in 1985, the Investments & Wealth Institute is the premier professional association, education provider and standards body for financial advisors. Through its award-winning events, publications, courses and acclaimed certifications — Certified Investment Management Analyst® (CIMA®), Certified Private Wealth Advisor® (CPWA®) and Retirement Management Advisor® (RMA®) — the Institute delivers Ivy League-quality, highly-practical education to more than 30,000 practitioners annually in over 40 countries. Members of the Institute include the industry’s most successful investment consultants, advanced financial planners and private wealth managers who embrace excellence and ethics in applying a broad set of knowledge and skills in their daily work with clients. Learn more at www.investmentsandwealth.org.

Maureen Walker
Investments & Wealth Institute
303-850-3202
mwalker@i-w.org

New National Geographic Series Chasing Answers Spotlights KAUST’s Emergence as a Global Scientific Research Hub

Chasing Answers

NEW NATIONAL GEOGRAPHIC SERIES CHASING ANSWERS SPOTLIGHTS KAUST’S EMERGENCE AS A GLOBAL SCIENTIFIC RESEARCH HUB

Four-part documentary delves into groundbreaking work conducted by teams of staff and students

THUWAL, Saudi Arabia, May 25, 2022 (GLOBE NEWSWIRE) — National Geographic is shining the spotlight on Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) in Chasing Answers, a new four-part series that explores the emergence of the Thuwal-based institution as a hub for groundbreaking scientific research and development in the region and the world. The documentary, produced by National Geographic, will premiere on National Geographic (English) and National Geographic Abu Dhabi (Arabic) on Wednesday, June 1st at 9pm KSA.

Home to elite scientists from all over the world, KAUST focuses on research that applies science and technology to areas of global concern. The series delves into three areas in particular – human need, social advancement and environmental sustainability – highlighting important projects with significant impact on both nature and mankind.

Episodes include Powering the Future, which will take a look at a team of KAUST researchers, as they spend countless hours tackling climate change and testing alternative energy solutions. Red Sea Explored is a deep dive into projects that include underwater internet and coral spawning.

Chasing Answers

NEW NATIONAL GEOGRAPHIC SERIES CHASING ANSWERS SPOTLIGHTS KAUST’S EMERGENCE AS A GLOBAL SCIENTIFIC RESEARCH HUB

The episode (Feeding) The 10 Billion Challenge shows the inroads being made by the KAUST team in answering the ever-daunting question of how to feed the world’s growing population. We Are Doers focuses on a group of problem-solvers as they look for ways to use technology to help overcome issues ranging from the global microchip shortage to filling knowledge gaps in our understanding of the past and our ambitions for the future.

Chasing Answers will air at 9pm KSA time each Wednesday for four weeks starting June 1st.

About King Abdullah University of Science & Technology 

Established in 2009, King Abdullah University of Science and Technology (KAUST) is a graduate research university devoted to finding solutions for some of the world’s most pressing scientific and technological challenges in the areas of food and health, water, energy, environment and the digital domain. KAUST is a curiosity-driven, interdisciplinary problem-solving environment, with state-of-the-art labs, distinguished faculty talent, and 20 research areas related to these themes.

KAUST brings together the best minds from around the world to advance research. More than 100 different nationalities live, work and study on campus. KAUST is a catalyst for innovation, economic development and social prosperity in Saudi Arabia and the world, with research resulting in novel patents and products, enterprising startup businesses, collaborative regional and global initiatives, and original published papers.

To learn more visit kaust.edu.sa.

For more information, please contact global.pr@kaust.edu.sa

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9353a626-6d54-4841-a1e8-52956bd1b5d7
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c88619e-5dd6-4684-9134-a08379b51659

A video accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4304d1e8-8ce2-45c6-9a8a-6b4babe0a0c6

Lega Serie A Lands in the US, De Siervo Launches ‘Calcio is Back’ in New York

Opening event at the Metropolitan Museum of Art, attended by Vieri, Del Piero, Pirlo and Nesta

LEGA SERIE A LANDS IN THE US, DE SIERVO LAUNCHES ‘CALCIO IS BACK’ IN NEW YORK

Charlie Stillitano, right, Managing Director for U.S. Lega Serie A, listens as Luigi De Siervo, left, CEO of Lega Serie A, speaks during the ‘Calcio Is Back’ gala dinner to kick-off Italy’s Lega Serie A soccer arrival to the U.S., Tuesday, May 24, 2022, at the Met in New York. (AP Photo/Bebeto Matthews)

NEW YORK, May 25, 2022 (GLOBE NEWSWIRE) — The Lega Serie A lands in the United States. And it does so in grand style, launching a new ‘historic phase’ for Italian football, with the inaugural event ‘Calcio is Back’ at the Metropolitan Museum of Art in New York, a prestigious venue for world-famous brands. Many personalities from the institutional, entrepreneurial, cultural, sporting and entertainment worlds attended the event, including all the Lega Serie A clubs and legends such as Alessandro Del Piero, Alessandro Nesta, Andrea Pirlo and Christian Vieri, ‘Ambassadors of Lega Serie A’, as well as NBA and NFL champions. “It’s a project that started more than two years ago: we strongly believe in it and it’s finally happening, 20 years later than it should have,” explained Luigi De Siervo, CEO of Lega Serie A, at a press conference in New York to present the project.

“Those who came before us had only focused on Italy, which is fundamental in terms of turnover;” now is the time to do what should have been started two decades ago, with “the beginning of globalisation. Until now,” De Siervo explained, “the Serie A had focused on other priorities.”

The operational and institutional centre of the project ‘Calcio is Back’ in the US will be the recently opened office of the Lega Serie A in New York, in Chelsea Manhattan, 133W 25th street. The opening of the first international office marks the start of a project that will allow the Lega and its 20 member clubs to create new synergies while strengthening the relations with institutions, broadcasters, brands and fans overseas.

The opening of the Lega’s New York office, De Siervo continued, is aimed at “progressively growing” the Serie A product, at “making up for lost time and reaching everyone in the United States who watches football.” De Siervo then expressed his “enthusiasm” for the relationship with CBS, the Lega Serie A’s main broadcaster in the United States. “We are actively working to put them in a position to increase their audience.”

The investment for the launch in the US is currently quantified at between €1 million and €3 million, “but it can still be increased,” says De Siervo, anticipating that “two more hubs such as the one in New York” will be opened and that the aim “is to have a series of offices around the world within a year and a half.”

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola barbara.sanicola@lapresse.it

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ef91ba0-d8b9-4084-934b-f4b72e083d79

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.