WASHINGTON–(BUSINESS WIRE)–CAVA (NYSE: CAVA), the category-defining Mediterranean fast-casual restaurant brand, today published its first-ever Impact Report, highlighting the company’s commitments and progress across three foundational pillars that drive its mission: Heart, Health, and Humanity. Rooted in the brand’s vibrant Mediterranean heritage, the report reflects how CAVA is working to nourish communities, manage environmental resources, and support its team members — inside and outside
Author: sHq_LoGiNz
NEW YORK, July 30, 2025 /PRNewswire/ — In a dating world filled with endless apps and algorithms, the most successful singles know that quality matters more than quantity. A new member survey conducted by RichMenDatingOnline.com reveals the top five dating platforms actually favored by wealthy, high-achieving singles in 2025—and the results say a lot about what today’s elite really want.
The survey polled 3,000 verified members—1,500 affluent men and 1,500 financially independent women—all earning six to seven figures annually and actively dating online. Participants were asked which dating apps they trust, use frequently, and would recommend to peers looking for real, high-quality matches.
“Wealthy singles aren’t chasing trends—they’re choosing results,” said a spokesperson for RichMenDatingOnline.com. “They want apps that align with their lifestyle, protect their privacy, and connect them with partners who match their ambition.”
The Top 5 Dating Apps for Affluent Singles in 2025
- MillionaireMatch
Ranked #1 by both men and women, MillionaireMatch is praised for its verified income standards, exclusive community, and focus on meaningful relationships. It remains the gold standard for upscale dating. - Date-Millionaires.com
A sleek newcomer gaining rapid traction, Date-Millionaires.com combines modern design with curated profiles and an elite matching system. Users cited high response rates and a luxury-focused experience. - Raya
Known for its exclusivity and celebrity appeal, Raya continues to attract creative professionals, investors, and global tastemakers. Members appreciate its discreet environment and high-profile network. - The League
With professional vetting and social verification, The League appeals to career-driven singles who value ambition and intellectual compatibility. It ranks highly for its selective admissions and educated user base. - EliteSingles
Particularly favored by women over 30, EliteSingles stands out for its emphasis on education, shared values, and compatibility. It attracts thoughtful, mature singles seeking long-term partnerships.
Across the board, these apps scored highest for security, quality of matches, user satisfaction, and privacy protections—essentials for singles who expect the best.
About RichMenDatingOnline.com
RichMenDatingOnline.com is the leading destination for ambitious, successful singles looking for genuine, lasting relationships. With a focus on shared values, lifestyle compatibility, and relationship goals, the platform connects elite individuals who are clear about what they want in love—and in life.
Media Contact:
Jane Doe
PR Manager, RichMenDatingOnline.com
0776-2831270
398811@email4pr.com
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SOURCE RichMenDatingOnline.com
From powering our customers’ homes to supporting pollinators that live in our rights-of-way, we’re always proud to help brighten our communities.
We are honored to be recognized as a Monarch Conservation Partner by the University of Illinois Chicago for our efforts to support Monarch Butterfly habitats in 2024.
Learn more about the work we’re doing to support and protect New Jersey’s wildlife at http://spr.ly/604245ilm
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BUFFALO, N.Y., July 30, 2025 /3BL/ — KeyBank (NYSE: KEY) and the Buffalo Sabres today announced a 10-year extension of their arena naming rights deal. The contract, which is set to begin in 2026-27, will keep the KeyBank Center name in place through the 2035-36 season. KeyBank is the official and exclusive bank of the Buffalo Sabres.
“We are thankful for the support of KeyBank over the course of the last decade and look forward to the continued relationship with such a valued partner of the Buffalo Sabres,” said Sabres Owner, CEO and President Terry Pegula. “We take great pride in our home arena bearing the name of an organization with such strong roots in the Western New York community and feel this partnership will continue to drive community impact for many years to come.”
“We are thrilled to build upon our partnership with the Buffalo Sabres. This is an investment in Buffalo and reflects our commitment to this community,” said KeyCorp Chairman and CEO Chris Gorman. “KeyBank and the Sabres will continue to drive Buffalo forward, creating opportunities and delivering on our purpose: to help our clients and communities thrive. We believe in Buffalo’s future and are proud to carry it forward — together.”
In addition to the arena naming rights, the longstanding partnership between the Sabres and KeyBank will introduce KeyBank as the team’s away helmet sponsor starting in the 2025-26 season. KeyBank’s collaboration with the Sabres dates back to 2015 and reinforces the commitment of both organizations to the Western New York community.
KeyBank and the Buffalo Sabres’ dedication to giving back to the city of Buffalo and the greater Western New York region will continue with the introduction of the HocKey Assists Community Program. The mission of HocKey Assists is to inspire pride and possibility in the Western New York community. Through initiatives focused on education, small business growth and neighborhood engagement, this community program will empower and support youth, put a spotlight on local entrepreneurs and their journeys, and bring people together through impactful programs that make a lasting difference in the neighborhoods we call home.
“KeyBank and the Sabres both believe that when our community thrives, we all thrive,” said KeyBank Buffalo Market President Mike McMahon. “That’s why we are excited to launch our new HocKey Assists initiative which aims to empower youth, uplift local entrepreneurs, and unite communities through impactful, grassroots programs. As we celebrate KeyBank’s bicentennial, our partnership with the Sabres is a symbol of our commitment to making a difference in Buffalo and all of the communities we call home.”
“Creating a community hub remains a core aspect of our mission at KeyBank Center,” said Buffalo Sabres COO Pete Guelli. “We see tremendous value in KeyBank Center serving as a gathering place in our city and nothing exemplifies this more than the KeyBank commitment. Additionally, KeyBank Center holds the unique ability to impact and drive economic growth in downtown Buffalo that can create a lasting impact in the community. Tied in with the HocKey Assists program, this partnership stands to benefit our community in immeasurable ways.”
As part of the continued partnership, KeyBank customers will enjoy exclusive benefits when attending games, concerts and events at KeyBank Center starting during the 2026-27 hockey season. The partnership extension was negotiated with the help of Excel Consulting Services, an industry-leading management and marketing agency.
ABOUT KEYCORP
In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $185 billion at June 30, 2025.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
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July 30, 2025 /3BL/ -Southwire was founded in 1950 with the goal of bringing electric light to people who needed it. In 2025, as we celebrate the 75-year history of our company, we are pleased to mark the occasion with our annual sustainability report.
“Throughout 2025, we are taking the time to honor our legacy, celebrate our successes and drive excitement for the future,” said Rich Stinson, President and CEO of Southwire. “We are proud of our accomplishments in Southwire’s first 75 years and look forward to leading the charge in sustainable innovation and electrification for generations to come.”
The latest sustainability report celebrates Southwire’s progress toward its goals across the company’s five core tenets of sustainability, including:
Growing Green – Southwire reached a 65.2% reduction of Scope 1 and 2 emissions from a 2018 baseline, using various market-based methods. The company is transitioning away from its previous Carbon Zero goal to near-term science-based targets, recently validated by the Science Based Targets initiative.
Living Well – Through our efforts to build a world-class safety culture, we achieved a record low total recordable incident rate (TRIR) of 0.65, exceeding our target of 0.68 in 2024.
Giving Back – We engaged 92% of our local communities with at least two annual volunteer events in 2024. Southwire also celebrated the 20th anniversary of its Back to School giving efforts.
Doing Right – For the second year in a row, Southwire was named to Ethisphere’s World’s Most Ethical Companies® list.
Building Worth – Southwire expanded its sustainable innovation partnerships, including a project with Levidian to capture carbon from methane and investments into the next generation of smart power solutions through Southwire Technology Ventures.
“The world is changing, and we’re evolving with it, from exploring the decarbonization of cable production to embracing new technologies such as artificial intelligence,” said Burt Fealing, Southwire’s EVP, General Counsel and Chief Sustainability Officer. “Through it all, hard work, collaboration and innovation keep us rooted in who we are – a company making a difference for this generation and the next.”
In addition to the 2024 Sustainability Report, Southwire is proud to present our 2024 Sustainability Fact Sheet, which provides an overview of the company’s progress toward our goals and key accomplishments throughout 2024.
To view Southwire’s 2024 Sustainability Report and 2024 Sustainability Fact Sheet, visit www.southwire.com/sustainability. For more Southwire news, visit www.southwire.com/newsroom.
BOSTON and HOUSTON, July 30, 2025 /PRNewswire/ — Swift Current Energy today announced that it has added to its board of directors three new independent non-executive directors. Booga Gilbertson, most recently COO of Puget Sound Energy, will serve as Swift Current Energy Board Chair and Martin Crotty, most recently EVP of Asset Optimization at EDF Renewables, and Chris Fallon, formerly President of Duke Energy Renewables (now Deriva Energy), will serve as independent non-executive directors.
The three new board members bring over 80 years of energy experience and will support Swift Current Energy’s continued growth as a leading independent power producer. Also serving on the Swift Current Energy Board of Directors are Eric Lammers, CEO of Swift Current Energy, Matt Birchby, President of Swift Current Energy, Lisa Crutchfield, Independent Director, Neil Doherty, Executive Director at IFM Investors, and Remy Verot, Investment Director at IFM Investors.
Eric Lammers, Co-founder and CEO of Swift Current Energy, said, “We are delighted to welcome Booga, Martin, and Chris to our board of directors. Over the last nine years we have built a strong company that has successfully produced 2.2 GW of operating power projects in key markets and developed an even greater pipeline of energy projects. Expanding our board with values-aligned individuals will only increase our reach and effectiveness as we navigate policy changes and step up to meet accelerating energy demand.”
Neil Doherty, Executive Director, Infrastructure at IFM Investors, said, “We are thrilled to welcome Booga, Martin, and Chris to the Swift Current Energy Board. Their deep industry expertise crafted over decades of leadership in the power and renewables sector will be invaluable as Swift Current Energy continues to trailblaze a path for clean energy. Each brings a proven track record of execution that will strengthen the Swift Current Energy Board and support our long-term growth.”
Since its founding in 2016, Swift Current Energy has commercialized 2.2 GWac of energy projects, including its 800 MWdc Double Black Diamond Solar project. Today, Swift Current Energy owns and operates 1.1 GWac of solar and wind energy projects across Illinois, Mississippi, and Texas.
For more information about Swift Current Energy’s team and the Swift Current Energy Board of Directors, please visit https://swiftcurrentenergy.com/team/.
About Swift Current Energy
Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, owns, and operates highly competitive, utility-scale wind, solar, and energy storage projects across the United States. Swift Current Energy is majority-owned by funds managed by IFM Investors, as well as Lookout Ridge Energy Partners. For more information, please visit swiftcurrentenergy.com.
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SOURCE Swift Current Energy
BROSSARD, QC, July 30, 2025 /PRNewswire/ – G Mining Ventures Corp. (“GMIN” or the “Corporation” or “we“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce the publication of its 2024 Environmental, Social, and Governance (“ESG“) Report, highlighting a pivotal year in which the Corporation transitioned from mine developer to operator and accelerated its evolution into a multi-asset, mid-tier gold producer. All figures are in U.S. dollars unless otherwise noted.
Covering the period from January 1 to December 31, 2024, the report highlights GMIN’s progress in environmental stewardship and responsible mining, inclusive economic growth, and governance excellence — particularly at the Tocantinzinho Gold Mine (“TZ“) in Pará State, Brazil, and through early ESG integration at the Oko West Project in Guyana (“Oko West“) and the Gurupi (“Gurupi“) Project in Brazil.
Prepared in alignment with globally recognized frameworks—including GRI, SASB, TCFD, TNFD, IFRS S1/S2, and the UN Sustainable Development Goals1—the report reflects GMIN’s commitment to transparency, accountability, and sustainable value creation.
Link to Full ESG Report: GMIN’s 2024 Environmental, Social and Governance Report
“2024 marked a foundational year for GMIN as we successfully transitioned into a gold producer and laid the groundwork to become a multi-asset gold producer,” said Louis-Pierre Gignac, President & Chief Executive Officer. “Our ESG strategy evolved from policy to action — integrated across teams, sites, and decision-making processes. This report captures not only our progress, but also our intent to: grow responsibly, reduce our environmental impact, and strengthen partnerships in the regions where we operate. As we grow, ESG remains central to how we operate and how we create responsible, long-term value for all stakeholders.”
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1 GRI: Global Reporting Initiative; SASB: Sustainability Accounting Standards Board; TCFD: Task Force on Climate-related Financial Disclosures; TNFD: Taskforce on Nature-related Financial Disclosures; IFRS S1/S2: International Financial Reporting Standards Sustainability Disclosure Standards (developed by the ISSB); UN SDGs: United Nations Sustainable Development Goals. |
GMIN’s 2024 ESG Report Highlights:
Environmental Stewardship:
- Licensing Milestones: Obtained environmental operating licenses for energy infrastructure, tailings structures, gold extraction, and beneficiation for TZ and initiated Environmental Permitting for Oko West with an Environmental and Social Impact Assessment filing at the Guyana’s Environmental Protection Agency in November of 2024.
- Tailings and Water Management: TZ operations aligned with the Global Industry Standard on Tailings Management (GISTM), with independent oversight from the Tailings Review Committee.
- Recycling: 94% of the water at the mill and 74% of solid waste generated at TZ was recycled where key recycling initiatives generated revenue.
- Biodiversity and Reforestation: 33 hectares were reforested; 449 wild animals rescued; 2,837 plant specimens relocated; and over 10,000 individual fauna and flora monitored.
- Greenhouse gas (“GHG”) Reporting: Completed 2024 GHG emissions inventory on Scope 1 and 2; emissions mitigation and reforestation projects are underway.
Social Responsibility:
- Health and Safety: Achieved a Total Recordable Incident Frequency Rate (TRIFR) of 0.08 over 2.49 million hours worked, maintaining GMIN’s “zero harm” priority.
- Local Economic Development: 98% of national workforce at TZ Mine, with 81% coming from Pará State, including 67% from the Itaituba region. Over R$174 million (~USD 35 million) in local procurement was recorded.
- Community Engagement: 2,309 students engaged in socio-environmental education programs; and supported 15 community-led projects through a participatory committee.
- Diversity, Equity and Inclusion: Women represented 15.2% of the workforce in 2024, up from 11% in 2023; targeted inclusion and training initiatives expanded.
Governance Excellence:
- Policy Development: Formalized new corporate policies: Human Rights, Climate Change, and Tailings Management.
- Human Rights Training & Due Diligence: 100% of corporate and TZ leadership completed human rights training. A Human Rights Impact Assessment is underway at TZ.
- Modern Slavery Compliance: Submitted the first report in compliance with requirements of the Canadian Fighting Against Forced Labour and Child Labour in Supply Chain act, including the actions to better understand and manage risks of modern slavery in our supply chain.
- Grievance Management: GMIN’s Relationship Portal addressed and resolved 100% of 2024 reports. The system will be expanded to Oko West and Gurupi in 2025.
- Ethical Supply Chain: All suppliers were screened using the CIAL platform, a third-party software system for supplier due diligence and risk monitoring; zero incidents of child or forced labor were identified in 2024.
ESG Integration at Growth Projects
In addition to reaching commercial production at TZ, GMIN made key strides at its development-stage assets, aligning with international best practices.
- At Oko West, GMIN formed a Multi-Stakeholder Working Group, secured provisional environmental and social licensing, and initiated early works construction.
- At Gurupi, GMIN began permitting and stakeholder engagement planning following the acquisition.
“As we advance our sustainability strategy, this report shows how ESG principles are now embedded across our operations,” said Eduardo Leão, Vice President of Sustainability. “In 2024, we moved from design to delivery — formalizing policies, applying global frameworks, and engaging stakeholders across Brazil and Guyana. From biodiversity and water reuse to human rights and governance, we’re building a resilient, responsible business grounded in long-term value creation.”
Looking Ahead: 2025 ESG Commitments
These priorities reflect GMIN’s commitment to responsible mining, environmental leadership, and inclusive growth across its operations.
In 2025, the Corporation will focus on the following ESG initiatives:
- Reforestation:
- Reforest an additional 36 hectares, building on 33 hectares restored to date.
- GHG Emissions:
- Expand Scope 3 emissions tracking and mitigation strategies.
- Increase offsetting efforts through reforestation.
- Renewable Energy and Efficiency:
- Launch solar and wind power generation studies.
- Optimize operational processes to reduce energy demand.
- Waste Management:
- Raise the recycling rate to 75% of total waste generated.
- Reduce average waste disposal costs by 10%.
- Introduce circular economy practices across key facilities.
- Human Rights and Inclusion:
- Continue due diligence assessments and expand leadership training.
- Conduct Human Rights Impact Assessments at TZ and Oko West.
- Responsible Mining Standards:
- Achieve 70% compliance with the International Cyanide Management Code.
- Conduct external assessments aligned with the TSM (Towards Sustainable Mining) protocol.
- Stakeholder Engagement:
- Launch new stakeholder engagement and social investment committees at Oko West (Guyana) and Gurupi (Brazil).
Management Update
The Corporation announces the departure of Dušan Petković, Senior Vice President, Corporate Strategy, effective July 28, 2025. Dušan played an integral role in GMIN’s early success, including the acquisition and financing of the Tocantinzinho Gold Project. His responsibilities have been transitioned to existing senior leaders, ensuring continuity as GMIN continues to execute its multi-asset growth strategy. The Corporation thanks Dušan for his many contributions and wishes him continued success in his future endeavors. A formal search for his replacement is underway, with a succession planning process in place to ensure a smooth transition.
The Corporation is also pleased to announce the appointment of Jean-François Lemonde as Vice President, Investor Relations, effective August 4, 2025. Mr. Lemonde brings a strong track record in capital markets, with deep relationships across global institutions and investors. His experience and insight into financial communications will be instrumental in strengthening GMIN’s engagement with the investment community to support its next phase of growth.
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the TZ Gold Mine in Brazil and Oko West Gold Project in Guyana, both mining friendly and prospective jurisdictions.
Additional Information
For further information on GMIN, please visit the website at www.gmin.gold.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the Corporation accelerating its evolution into a multi-asset, mid-tier gold producer; (ii) the expansion of GMIN’s inclusion and training initiatives; (iii) the conduct of a human rights assessment at TZ and company-wide; (iv) the expansion of grievance management to Oko West and Gurupi; and (v) more generally, the quoted comments of GMIN’s President & Chief Executive Officer as well as GMIN’s Vice President of Sustainability, and the sections entitled “Looking Ahead: 2025 ESG Commitments” and “About G Mining Ventures Corp.”
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the TZ operations aligning with the GISTM, GMIN operating with a long-term mindset that prioritizes community voice, ecological protection and operational discipline, GMIN’s operational processes being optimized to reduce energy demand; those relating to the ESG integration at the Oko West and Gurupi projects; those relating to the price of gold and currency exchange rates; and those underlying the items listed in the above section entitled “About G Mining Ventures Corp.”
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) GMIN will create sustainable value for its stakeholders and will grow responsibly, will reduce its environmental impact and will strengthen partnerships where it operates, or (ii) GMIN’s key recycling initiatives will continue to generate revenue, or (iii) the TRIFR will be maintained in the future, or (iv) levels of local employment and procurement will be maintained, or (v) GMIN will achieve, in whole or in part, its ESG initiatives for 2025, or (vi) GMIN will maintain compliance with applicable modern slavery legislation and reach full compliance with the International Cyanide Management Code, or (vii) the succession planning process following Dušan Petković’s departure will ensure a smooth transition and Jean-François Lemonde’s appointment will prove instrumental in strengthening GMIN’s engagement with the investment community, or (viii) GMIN will use TZ and Oko West to grow GMIN into the next multi-asset, intermediate producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that Brazil and/or Guyana will remain mining friendly and prospective jurisdictions.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation’s other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant sections of the Corporation’s (i) Annual Information Form dated March 27, 2025, for the financial year ended December 31, 2024, and (ii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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SOURCE G Mining Ventures Corp
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Clean Energy announces new deals with transit fleets & municipalities transitioning their vehicles to ultra clean renewable natural gas (RNG).
SHANGHAI, July 30, 2025 /PRNewswire/ — Yanfeng, a leading global automotive supplier, officially released its 2024 Environmental, Social, and Governance (ESG) Report, showcasing significant progress across its sustainability initiatives. The report highlights the company’s unwavering commitment to responsible operations through measurable achievements in renewable energy adoption, circular economy practices, and social responsibility programs.
Key achievements in 2024 include:
- Renewable Energy: 42% of global energy was sourced from renewables, with solar contributing 4.2%.
- Circular Economy: A 31% increase in recycled plastic resin purchases.
- Industry Recognition: Maintained an A- CDP rating for climate disclosure and earned an EcoVadis Silver Medal.
“Our 2024 ESG accomplishments reflect our team’s dedication to integrating responsible practices throughout our operations,” said Zang Chungao, CEO, Yanfeng. “From renewable energy to sustainable materials, we’re creating long-term value for all stakeholders.”
Yanfeng is on track for its net-zero emissions target (Scope 1 & 2) by 2030, embedding sustainability into product development with recyclable materials and modular designs.
The company also strengthened its commitment to the UN Global Compact and Sustainable Development Goals through ethical operations and record employee volunteer hours.
The full 2024 ESG Report is available [here]. Yanfeng continues to innovate and collaborate, advancing sustainable mobility solutions worldwide.
About Yanfeng
Yanfeng is a leading global automotive supplier, focusing on interior, exterior, seating, cockpit electronics, and passive safety, and is exploring new business actively. Yanfeng has more than 240 locations and approximately 57,000 employees worldwide. The technical team of 4,100 experts is in 14 R&D centers and other regional offices, with complete capabilities including engineering and software development, styling, and test validation. Focusing on Smart Cabin and lightweight technology, Yanfeng supports automakers to explore future mobility and provide leading cabin solutions. For more information, please visit www.yanfeng.com.
– Picture is available at AP –
Please contact:
Mariana Trstikova, Communications Manager
mariana.trstikova@yanfeng.com
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SOURCE Yanfeng
Key markets get boost in new shares exchange
TAIPEI, July 30, 2025 /PRNewswire/ — Hon Hai Technology Group (“Foxconn”) (TWSE:2317) and TECO Electric & Machinery Co Ltd Ltd (“TECO”) on Wednesday announced a share exchange, strategic alliance that will strengthen their AI infrastructure capabilities and propel the two Taiwanese tech majors into key markets in the global super-computing race.
The move brings together the strengths of Foxconn, the world’s largest electronics manufacturing service provider and AI server producer, and TECO, a leader in industrial electro-mechanical engineering and green energy innovation. Seizing on the development of global AI data center (AIDC) construction towards standardization and modularization, the two companies will jointly explore AIDC business opportunities. Global customers will be able to tap comprehensive data center modular products, electromechanical engineering services, and cost-competitive, one-stop solutions.
According to terms approved by both boards, respectively, TECO will take a 0.519% stake in Hon Hai Precision Industry Co Ltd, the formal name Foxconn trades on at the Taiwan Stock Exchange. In turn, Foxconn will own 10% in TECO. The latter will issue 237,644,068 new shares to Foxconn, and Foxconn will issue 72,481,441 new shares to TECO, implying a share exchange ratio of approx. 1 to 0.305. The no-cash transaction is targeted to complete in fourth quarter of this year, conditional on regulatory approvals.
Foxconn Chairman Young Liu said, “Time-to-market is key in the global super-computing race. Modular design is gaining popularity. As AI data centers grow in size and demand ramps higher, teaming up with TECO means both companies are able to level up and rapidly deliver comprehensive, vertically-integrated solutions to our customers – the Tier-1 CSPs and hyperscalers.”
TECO Chairman Morris Li said, “Changing global dynamics are creating new opportunities for business and cooperation. The strategic partnership extends the two companies’ cooperation in the fields of low-carbon smart factories and energy services, toward being a one-stop solution for data centers going forward.”
Target markets cover Taiwan, Asia, the Middle East and the US. Texas-based TECO-Westinghouse, a world leader in making electric motors, with its US manufacturing and local services, together with Foxconn’s US manufacturing base, are in line with the companies’ strategic aim to expand US manufacturing and reshape the global supply chain.
About TECO here.
About Foxconn here.
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SOURCE Hon Hai Technology Group (Foxconn)
