Tag Archives: producer

Brazil’s car production fell 31.6 percent in 2020 | Instant News

(MENAFN) On Friday, January 8, the National Association of Vehicle Manufacturers (Anfavea) announced that Brazil’s auto production fell 31.6 percent in 2020 compared to the previous year, while exports fell 24.3 percent due to the novel COVID-19. pandemic.

Brazil, Latin America’s largest economy, produced 2,014,055 cars and exported a total of 324,330 units in 2020, compared with the previous year, when it produced 2,944,988 cars and exported 428,208 units.

Anfavea stated that the drop to 2016 levels shifted Brazil from eighth to ninth position among the world’s biggest carmakers, being beaten by Spain.

Anfavea President Luis Carlos Moraes stated in the video symposium: “Last year, we faced a crisis in the Argentine currency in exports, but for 2021, we expect greater demand from other South American markets such as Colombia, Chile and Peru.”

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SHC grants are still awarded to cement producers who hold CCPs | Instant News

ISLAMABAD: The Sindh High Court (SHC) has detained the Pakistan Business Competition Commission (CCP) by giving a second residency order from proceedings against cement producers and issuing an order in a case of suspected cartelization.

This is the second stay order given by the Sindh High Court because in the first stay order, the honorable court is holding the CCP from proceeding against a cement factory that falls under the jurisdiction of the Southern region.

The CCP published its findings on the North and alleged that it had “solid evidence” to prove that the cement producers made an additional profit of Rs40 billion which could not be justified by establishing a cartel. After the investigation report was published, a cement company in Lahore went to the Sindh High Court again and obtained another postponement order despite the fact that neither the cause of the action (inspection) did not appear in Sindh nor the defendant (CCP) had an office in Sindh. As a result, the CCP is restricted from issuing event cause notifications and passing final orders on the matter. Most affected by this problem will be the wider community as they will continue to pay uncompetitive cement prices.

It is important to mention here that the CCP carries out on-site inspections of the All Pakistan Cement Producers Association (APCMA) and the three companies where APCMA representatives conduct association business. Inspections are carried out under Section 34 of the Competition Act 2010.

The reason for the inspection is to obtain evidence of cartelization for ongoing investigations into alleged cartelization by cement producers, thereby enforcing Article 4 of the aforementioned Law. It is important to note that unannounced inspections are an important tool for uncovering confidential communications and agreements between business entities aimed at fixing prices, dividing markets, setting production and sales quotas.

During the inspection, documents, e-mails and other information stored on the computer are confiscated for forensic analysis.

The inspections carried out at the APCMA and DG Cement buildings in Lahore in September 2020 provide critical evidence pointing to an organized scheme whereby cement companies set prices and sales quotas and a split market, all at the expense of consumers.

It turns out that cement producer officials used private WhatsApp groups to coordinate their behavior. Based on information gathered from the Lahore inspection, two more inspections were carried out in Karachi on 19 November 2020.

It finds further evidence of cartelization especially in what APCMA calls the Southern Region. Inspections in Lahore and Karachi were carried out on 24 September 2020 and 19 November 2020.

The Inquiry Committee set up by the CCP completed its duties in the first week of December and was in the process of submitting the report to the commission, when APCMA and the cement company, realizing that they were arrested, approached the respected Sindh High Court to stop the CCP using evidence gathered from inspection.

The court of respect issued a provisional decision prohibiting the use of evidence obtained from inspections carried out in Karachi (and not Lahore who may be aware of the lack of jurisdiction outside Sindh in civil matters).

The CCP, in honor of a court order, issued evidence obtained from Karachi in its investigation reports. This evidence is equally burdensome and sufficient. But now that a second stay order has been given, the CCP cannot move forward against the alleged cartel.


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JSW Steel is profitable as a unit to acquire a 31% stake in Italy’s GSI Lucchini | Instant News

JSW Steel rose 1.25% to Rs 356.15 after the company said its subsidiary signed an agreement to acquire a steel facility in Piombino, Italy.

JSW Steel Italy, a subsidiary of the company, signed a share sale and purchase agreement (SPA) on 21 December 2020 with Industrial Development Corporation (IDC), South Africa, for the acquisition of 30.73% share capital of GSI Lucchini with a cash consideration of 1 million euros. The remaining 69.67% of GSI is held by JSW Steel Italy. GSI’s manufacturing unit is located in Piombino, Tuscany Region in Italy.

IDC is owned by the Government of South Africa under the supervision of the Department of Industry and Trade Competition.

GSI is a manufacturer of forged steel balls used in mills with a major application in the mining process. The GSI facility is located within the Piombino plant site, providing easy access to the export market via the Piombino port.

Offering the reasons for the acquisition, JSW Steel said that the proposed transaction provides a unique opportunity for JSW to consolidate its stake in GSI. The GSI Lucchini brand is widely recognized in Europe and Africa and is one of the leading Grinding Media suppliers in African Mines.

The port-based facility located in Piombino, makes GSI uniquely positioned for the export market, allowing specific advantages in terms of waiting times, service levels and logistics costs in its target market. This facility also gives GSI the flexibility and access to import raw material / blooming bars and billets to replenish supplies as needed.

“The transaction is subject to fulfillment of precedent requirements and other requirements specified in the SPA,” the company said in a statement.

JSW Steel, the flagship company of the JSW Group, is an integrated steel producer in India with an installed steelmaking capacity of 18 million tonnes per annum (MTPA).

On a consolidated basis, the steel company net profit fell 37.77% to Rs 1,593 crore with a 9.63% increase in revenue from operations to Rs 19,264 crore in Q2 September 2020 during Q2 September 2019.

Presented by Capital Markets – Live News

(This story has not been edited by Business Standards staff and is generated automatically from syndicated feeds.)

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News Maker 2020: Virtual Trade Shows Connect the Grounded Fashion Industry | Instant News

Virtual Trade Show | Photo courtesy of Swim Show

When the COVID-19 pandemic hit the shores of the United States in early 2020, clothing industry trade show producers canceled on-site shows and postponed live events. One of the first show producers to think beyond the trade show floor Kingpins, which introduces the April virtual edition Kingpins 24, streaming shows.

“We are, on the whole, resilient, resourceful and optimistic,” Kingpins founder Andrew Olah said in March. “When one door closes, another opens.”

To accommodate their audience, additional manufacturers are joining the trend as technology providers including Handle, Year, The Diigitals, NuOrder and Producer helps ease the transition to virtual events. Some producers host virtual destinations full of trade show style while others rely on information sessions to brainstorm ideas.

In the month of June, LA Market Week see the hosting showroom Zoom in meetings and visits to socially distant places. International Market Center and Dallas Market Center also makes buildings accessible with support for digital visits as well.

With anticipation and hope, the fashion industry will end 2020 as the announcement is made to return to trade shows on-site carefully – and safely. Most of the show’s producers saw the potential for a future where a hybrid model based on inclusivity would serve all members of the fashion community very well.

“We will do a hybrid model in the future,” Fashion Informa Market Commercial President Kelly Helfman said after the December announcement that producers would include the show in place among the 2021 offerings. “There will MAGIC Digital takes place alongside the event, so it will provide an opportunity for shoppers who feel comfortable coming to live events, shop and preview some of the previous brands and follow up by shopping on a digital platform. “


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Kroger launched the 7 top food predictions for 2021 | Instant News

Trends – curated by Kroger’s team of culinary experiences and his private label product developers, chefs and innovators – includes:

1. Future Resistant Foods: As futureproofing and biohacking trends continue to pick up in 2021, buyers can expect to see more foods with added benefits to support immune health, gut and brain health, energy levels, and stress management. “ person

2. Seeking Comfort: Home-cooked meals that are easy to prepare are on the rise as consumers desire to balance convenience and fast preparation times with flavorful food choices. To help deal with the added stress many face in 2020, consumers are also increasingly turning to home-made cookies for a mood booster and mental escape. “ person

3.Disturbance Foods:A ‘ketotarian’ diet is a plant-based diet based on traditional keto guidelines (high fat, moderate protein, very low carbohydrates), says Kroger. “Consumers can expect to find a growing selection of these high protein plant foods on grocery shelves in the coming year.” person

4. Global Flavors and Hit Home’s Favorite Restaurants: According to 84.51 °, data from Kroger and its analytics subsidiary, more than 60% of Kroger buyers spend more time cooking at home, retailers say. “This trend will only increase in 2021, as consumers improve their weekly routine by experimenting with global flavors and recipes that recreate their favorite travel experiences or restaurant meals at home. “ person

5. Mushroom Mania: 2021 will be “an escape year for mushrooms person , “Kroger’s prediction.”Versatile vegetables are rich in antioxidants, vitamins and minerals, and can easily enhance everyday recipes with their warm umami flavor. Consumers are expected to see mushrooms playing a major role in a variety of new products by 2021, including plant-based protein blends, seasonings, spices, seasonings and more. “ person


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