Latest news with #Rabe
Yahoo
4 days ago
- Business
- Yahoo
Huhtamaki secures $173m loan for refinancing
Finnish sustainable packaging solutions provider Huhtamaki has secured a €150m ($173m) freely transferable loan (Schuldschein) aimed at institutional investors. The loan agreement, structured in two floating and two fixed-rate tranches, will mature over five and seven years, respectively. This financial move is intended to facilitate the refinancing and support general corporate activities within the Huhtamaki Group. Meanwhile, Huhtamaki announced a change in its executive team. Johan Rabe, executive vice president of digitalisation and process performance, and a member of the Huhtamaki global executive team, will be departing the company to explore new career opportunities. Rabe has committed to aiding in a smooth transition until the end of the current year, after which his successor will be named. In January 2025, the company appointed Ralf Wunderlich as its new president and CEO. Huhtamaki, with a century-long history and a robust Nordic heritage, operates across 36 countries with approximately 18,000 professionals in 102 locations. The company's efforts towards sustainability can be seen in its operations and product offerings. These products play a crucial role in protecting food and beverages, both on-the-go and on-shelf, as well as personal care items, ensuring safety and hygiene, enhancing accessibility and affordability, and contributing to the reduction of food waste, stated the company. In 2024, Huhtamaki reported net sales of €4.1bn. Net sales remained flat at €1bn in the first quarter of 2025, when compared with the previous year's level. By the end of Q1 2025, the company realised cost savings amounting to €87m, which have been instrumental in offsetting the impact of cost inflation. In April 2025, Huhtamaki acquired Zellwin Farms, a producer of moulded fibre packaging in Florida, the US. "Huhtamaki secures $173m loan for refinancing" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
DW
4 days ago
- Business
- DW
China's Zoomlion takes over German agri-tech firm Rabe – DW – 06/19/2025
The Chinese machinery giant has acquired Rabe because of its innovative tilling technology. Zoomlion uses Rabe to expand its agricultural machinery division and wants to open up new sales channels in the EU. China Invests in German Agricultural Technology Germany's agricultural technology sector is facing significant changes, driven in part by Chinese investment. One notable example is the acquisition of the historic German tillage equipment manufacturer Rabe by Chinese construction machinery giant Zoomlion. Rabe, once a thriving family-run company, struggled with generational transitions and financial instability, ultimately leading to insolvencies. Today, under Chinese ownership, Rabe is not only revitalizing its innovative product line but also leveraging its expertise in precision plowshares to expand into the Chinese market. This collaboration allows German-engineered agricultural equipment to find a new market abroad while benefiting from Zoomlion's manufacturing advancements. A Strategic Partnership Reshaping the Market Despite initial concerns about the long-term intentions of Chinese investors, Zoomlion has actively supported Rabe's redevelopment, helping it modernize production processes and regain competitiveness in Europe. The partnership has also paved the way for Chinese agricultural machinery to enter the German and European markets through Rabe's existing distribution network. With advanced automation and cost-effective production in China, these machines are being adapted for European standards, ensuring compliance and usability in the region. The exchange of technical expertise between Germany and China highlights the growing integration of global markets and the increasing role of Chinese capital in European industries. What Does Chinese Investment Mean for Germany? While concerns over foreign ownership of key industries remain, the Chinese investment in Rabe illustrates a potential positive outcome: preserving jobs, fostering innovation, and ensuring the survival of legacy German manufacturers that might otherwise have disappeared. This trend could enhance competition, drive technological development, and encourage more cross-border collaboration. However, questions remain about long-term control and economic dependency. As China continues to invest in German technology sectors, careful oversight and balanced partnerships will be crucial in maintaining Germany's industrial independence while benefiting from international cooperation. This video summary was created by AI from the original DW script. It was edited by a journalist before publication.
DW
4 days ago
- Business
- DW
China invests in German agricultural technology – DW – 06/19/2025
Rabe is back with innovative tillage! Chinese manufacturer Zoomlion uses Rabe to expand its agricultural machinery division and opens up new sales channels in the EU – a milestone for sustainable agricultural technology. Chinese Invests in German Agricultural Technology Germany's agricultural technology sector is facing significant changes, driven in part by Chinese investment. One notable example is the acquisition of the historic German tillage equipment manufacturer Rabe by Chinese construction machinery giant Zoomlion. Rabe, once a thriving family-run company, struggled with generational transitions and financial instability, ultimately leading to insolvencies. Today, under Chinese ownership, Rabe is not only revitalizing its innovative product line but also leveraging its expertise in precision plowshares to expand into the Chinese market. This collaboration allows German-engineered agricultural equipment to find a new market abroad while benefiting from Zoomlion's manufacturing advancements. A Strategic Partnership Reshaping the Market Despite initial concerns about the long-term intentions of Chinese investors, Zoomlion has actively supported Rabe's redevelopment, helping it modernize production processes and regain competitiveness in Europe. The partnership has also paved the way for Chinese agricultural machinery to enter the German and European markets through Rabe's existing distribution network. With advanced automation and cost-effective production in China, these machines are being adapted for European standards, ensuring compliance and usability in the region. The exchange of technical expertise between Germany and China highlights the growing integration of global markets and the increasing role of Chinese capital in European industries. What Does Chinese Investment Mean for Germany? While concerns over foreign ownership of key industries remain, the Chinese investment in Rabe illustrates a potential positive outcome: preserving jobs, fostering innovation, and ensuring the survival of legacy German manufacturers that might otherwise have disappeared. This trend could enhance competition, drive technological development, and encourage more cross-border collaboration. However, questions remain about long-term control and economic dependency. As China continues to invest in German technology sectors, careful oversight and balanced partnerships will be crucial in maintaining Germany's industrial independence while benefiting from international cooperation. This video summary was created by AI from the original DW script. It was edited by a journalist before publication.
RTÉ News
16-05-2025
- Business
- RTÉ News
Adidas chair reelected to 2026 despite shareholder revolt
Adidas shareholders have approved the re-election of Chairman Thomas Rabe despite a revolt, with some investors saying Rabe had too many outside commitments and the company had not done enough to find a successor. Shareholders at the group's annual general meeting supported his election for another year with 64.43% of votes, securing Rabe's sixth year in the role, but the margin narrowed compared to last year, when Rabe got 69% of votes. Adidas, in the midst of a turnaround driven by CEO Bjorn Gulden, extended Rabe's mandate last year by 12 months and said it would appoint a successor in 2025. Top investors including Allianz Global Investors rejected Rabe's reelection, saying he did not have enough time to dedicate to Adidas given his outside roles as CEO of Bertelsmann and RTL Group. In a letter to shareholders ahead of the meeting, Rabe said the extra year would give Adidas time to ensure a smooth handover, and that his experience and collaboration with Gulden were valuable especially as US tariffs have triggered economic uncertainty. "At the end of the 2026 Annual General Meeting, I will leave the Supervisory Board of Adidas for good," he added in the letter. Rabe also said he would increase the proportion of women on the board, after proxy adviser Institutional Shareholders Services said Adidas' board was not sufficiently gender-diverse.
Fashion United
16-05-2025
- Business
- Fashion United
Adidas chairman Rabe allowed to continue for another year
Bertelsmann media group's chief executive officer, Thomas Rabe, can continue as chairman of the supervisory board of German sportswear manufacturer Adidas for another year, despite strong opposition from shareholders. At the annual general meeting in Fürth, Rabe received only 64.4 percent of the votes from Adidas shareholders. However, the result is sufficient for another year in office. Rabe has been a member of the supervisory board since 2019 and was elected its chairman in 2020. Rabe had already faced criticism last year because shareholders viewed his dual role as Bertelsmann chief and Adidas supervisor critically. However, the 59-year-old received a mandate for another year, coupled with a request to intensify the search for a successor. 'Failed succession planning' A representative from Deka-Bank said at the annual general meeting: 'We approved the re-election of Mr Rabe one year ago, under the provision that the supervisory board would use the year for succession planning.' He now spoke of a 'missed opportunity' and of a "failed succession planning". Other shareholder groups, including Allianz Global Investors and Union Investment, supported the argument. Rabe himself is convinced that he is still the right person for the job. In a letter to the shareholders, he had already admitted in advance that the accumulation of offices could be perceived as unfavourable. He wrote: 'After thorough examination and detailed discussions in the nomination committee, in the overall supervisory board and with our chief executive officer, Bjørn Gulden, we have now come to the conclusion that stability, continuity and experience at the top of the supervisory board continue to be of critical importance for our business success'. Against this background, the supervisory board is convinced that his 'many years of experience as chairman of the supervisory board of Adidas and other listed companies' as well as the 'very close and good cooperation' with group chief Gulden in this 'phase of great opportunities for Adidas is very valuable and necessary in order to continue to guarantee the sustainable turnaround', the letter continues. Despite the challenges posed by customs policy in the US, Adidas is in a solid economic position. In the first quarter, sales rose by 8 percent to almost 5.5 billion euros. Operating profit climbed to 336 million euros, after 60 million in the same period last year. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
