Latest news with #TIC
Yahoo
4 days ago
- Business
- Yahoo
28 Strategy Execution and Evolves its Executive Committee
PARIS, June 18, 2025--(BUSINESS WIRE)--Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC) is accelerating the execution of its LEAP | 28 strategy to reach its vision of being the preferred partner for its customers' excellence and sustainability. Taking LEAP | 28 to the next level, Bureau Veritas is evolving the structure of its executive committee to drive greater organizational alignment, strengthening its geographical platform with scalable Product Line structures, and optimizing its operations to enhance agility and effectiveness. Since the strategy launch in March 2024, LEAP | 28 strategy execution has progressed steadily in all three pillars – Portfolio, Performance & People - and is now reaching an important stage requiring an evolution of the operating model. The new structure will empower the regions with scalable Product Lines, enabling global offers development, unlocking greater cross-selling opportunities, and driving growth and profitability. The current six operating geographical Regions will be reorganized into four greater Regions: Americas, Europe, Asia Pacific, Middle East Caspian & Africa. The Product lines will be managed under three executive committee members who will lead: Industrials and Commodities, Urbanization and Assurance, and Consumer Products Services. These groupings at the executive committee level are aligned with customer workflows and market needs. Considering the company ambition to scale performance programs across all the Regions and Product lines, a Chief Performance Officer and Executive Committee member role will be dedicated to lead the LEAP I 28 performance pillar and the overall optimization of key performance functions of operational excellence & performance, and sales & marketing. This role will drive the design, governance, and overall implementation and monitoring of these programs in coordination with other stakeholders across the organization. All other Business and Support Functions will remain under their current leaders. Hinda Gharbi, Chief Executive Officer of Bureau Veritas comments: "By directly connecting Product Lines to a simplified regional structure, we are strengthening our regional expertise and building deeper relations with our customers. This organization will also allow us to create more agility as we accelerate the execution of our LEAP | 28 strategy. This new organization will leverage scale, benefit from a well-defined structure, thus speeding up decision making, performance impact, and innovation. I fully trust our Bureau Veritas Executive team to mobilize the entire organization to achieve our vision and deliver on our ambition." *** The transition period will extend from July 1st to the end of August September 1st 2025, the Group Executive Committee will be structured and composed as follows: Regions: Europe: Executive Vice-President > Vincent Bourdil Middle East Caspian & Africa: Executive Vice-President > Khurram Majeed Asia Pacific: Executive Vice-President > Surachet Tanwongsval Americas: Executive Vice-President to be appointed before year end Product Lines: Industrials and Commodities: Executive Vice-President > Matthieu Gondallier De Tugny Urbanization and Assurance: Executive Vice-President > Marc Roussel Consumer Products Services: Executive Vice-President > Catherine Chen Business Functions: Corporate development & sustainability: Executive Vice-President > Juliano Cardoso Chief Performance Officer: Executive Vice-President > Laurent Louail Chief Digital & Innovation Officer: Executive Vice-President DxT (Digital & Technology) > Philipp Karmires Support Functions: Chief Financial Officer: Executive Vice-President > François Chabas Chief People Officer: Executive Vice-President > Maria Lorente Fraguas Legal affairs & Internal Audit: Executive Vice-President > Beatrice Place-Faget *** About Bureau Veritas Bureau Veritas is a world leader in inspection, certification, and laboratory testing services with a powerful purpose: to shape a world of trust by ensuring responsible progress. With a vision to be the preferred partner for customers' excellence and sustainability, the company innovates to help them navigate in 1828, Bureau Veritas' 84,000 employees deliver services in 140 countries. The company's technical experts support customers to address challenges in quality, health and safety, environmental protection, and Veritas is listed on Euronext Paris and belongs to the CAC 40, CAC 40 ESG, SBF 120 indices and is part of the CAC SBT 1.5° index. Compartment A, ISIN code FR 0006174348, stock symbol: more information, visit and follow us on LinkedIn. *** Biographies: Vincent Bourdil, appointed Executive Vice-President, Europe, joined Bureau Veritas in 2016 and has held multiple leadership roles across the company. His most recent roles were Executive Vice-President, Global Business Lines & Performance before becoming Executive Vice-President, Commodities, Industry & Facilities, Southwest Europe. Khurram Majeed remains Executive Vice-President, Middle East, Caspian & Africa. He is a seasoned industry leader with over 23 years of senior management experience across energy, oil & gas, and other sectors. Khurram joined Bureau Veritas in 2024 as Executive Vice-President, Middle East, Caspian & Africa. Surachet Tanwongswal remains Executive Vice-President Asia Pacific. He joined Bureau Veritas in 2024 as Executive Vice-President for Commodities, Industry & Facilities in Asia Pacific. Prior to this, Surachet held leadership roles at Ecolab and other global B2B companies. Matthieu Gondallier de Tugny, appointed Executive Vice-President Industrials and Commodities, joined Bureau Veritas in 1994 and has held various technical, operational, and leadership roles in Marine & Offshore. His most recent role was Executive Vice-President, Marine & Offshore. Marc Roussel, appointed Executive Vice-President Urbanization and Assurance, joined Bureau Veritas in 2015 and has held multiple leadership roles across the company. His most recent role was Executive Vice-president, Commodities, Industry & Facilities, France. Catherine Chen remains Executive Vice-President Consumer Products Services. She joined Bureau Veritas in 2005 and has held various sales, marketing, and operational leadership roles in Consumer Product Services. Catherine will continue to connect Consumer Products & Technology Product Lines, as Executive Vice-President, Consumer Products Services. Laurent Louail, appointed Executive Vice-President Chief Performance Officer, joined Bureau Veritas in 1995 and has held multiple leadership roles across the company. His most recent roles were Executive Vice-President, Commodities, Industry & Facilities in Southwest Europe, before becoming Executive Vice-President, Global Business Lines & Performance. Juliano Cardoso remains Executive Vice-President Corporate Development & Sustainability. He joined Bureau Veritas in 1999 and has held leadership roles across the company. Juliano will continue to lead our corporate development and sustainability efforts in his current role as Executive Vice-President, Corporate Development & Sustainability. Philipp Karmires remains Executive Vice-President Chief Digital & Innovation Officer. He is a senior executive with over 20 years of experience in digital transformation, enterprise software and product innovation. Philipp joined Bureau Veritas in 2024 and will continue to lead the DxT (Digital & Technology) function as Executive Vice-President, Chief Digital & Innovation Officer. François Chabas remains Executive Vice-President Chief Financial Officer. He joined Bureau Veritas in 2003, holding finance roles with increasing responsibility before becoming Chief Financial Officer in 2014. François will continue to lead the finance function as Executive Vice-President, Finance. Maria Lorente Fraguas remains Executive Vice-President Chief People Officer. She joined Bureau Veritas in 2024 after holding senior operational and human resources roles in international companies across multiple countries. Maria will continue to lead the people function as Executive Vice-President, Chief People Officer. Béatrice Place-Faget remains Executive Vice-President Legal & Internal Audit. She joined Bureau Veritas in 2020 after serving as general counsel for other companies in France. Béatrice will continue to lead the legal and compliance function as Executive Vice-President, Legal affairs & Internal Audit. Our information is certified with blockchain that this press release is genuine at View source version on Contacts ANALYST/INVESTOR CONTACTS Laurent Brunelle +33 (0)1 55 24 76 Colin Verbrugghe +33 (0)1 55 24 77 MEDIAAnette Rey +33 (0)6 69 79 84 Martin Bovo +33 (0) 6 14 46 79 Karine Ansart Inès Lagoutte Sign in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
Tanzania Construction Industry Report 2025: Output to Grow at an AAGR of 7.7% During 2026-2029, Supported by Investments in Transport and Water Infrastructure Projects
Unlock growth opportunities in Tanzania's construction sector with insights on market trends and forecasts from 2025-2029. Explore investment impacts, key projects, and industry dynamics across commercial, infrastructure, and energy sectors. Discover strategic insights into Tanzania's pipeline projects and developments. Dublin, June 05, 2025 (GLOBE NEWSWIRE) -- The "Tanzania Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)" report has been added to industry in Tanzania to grow by 7.1% in real terms in 2025, supported by investments in the manufacturing, transport and energy infrastructure projects. According to Tanzania Investment Centre (TIC), 901 investment projects totaling TZS20.7 trillion ($7.7 billion) were registered in 2024, marking the highest investment value since 1991. A total of TZS8.4 trillion ($3.1 billion) in investment was secured by 377 projects in the manufacturing sector in 2024, according to data from the TIC. Significant inflows of capital were also noted in the transportation sector, where 138 projects attracted TZS3.2 trillion ($1.2 billion). Other notable sectors that saw inflows of capital included commercial building projects with 91 projects totaling TZS1.9 trillion ($706 million), and tourism with 76 projects totaling TZS908.1 billion ($337 million).The Tanzanian construction industry is expected to register an average annual growth of 7.7% between 2026 and 2029, supported by investments in transport and water infrastructure projects. In February 2025, the African Development Bank (AfDB), announced investment of TZS6.7 trillion ($2.5 billion) to develop priority transport infrastructure projects in Tanzania. Some of the key projects include the Tanzania/Kenya multinational road (Bagamoyo-Pangani-Tanga-Horohoro/Lunga Lunga-Mombasa), with TZS269.5 billion ($100 million) allocated for Tanzania's stretch to improve coastal transport and reduce travel time between Dar es Salaam and Tanga. Other funded projects include the Nyakanazi-Kabingo-Kasulu-Kumnazi road (western Tanzania), Mawala-Masasi road (southern Tanzania), Tabora-Kigoma-Uvinza railway extending to Musongati, Burundi, and Dodoma (Msalato) International Airport. Moreover, in February 2025, Tanzania's National Roads Agency (Tanroads), under the Ministry of Works, announced plans to ease traffic congestion in five major cities-Dar es Salaam, Mwanza, Arusha, Dodoma, and Mbeya. Key initiatives include expanding Dar es Salaam's Bus Rapid Transit (BRT) system, constructing flyovers, and adding lanes. Dodoma's 112km Outer Ring Road is neared completion as of February 2025, with further expansions connecting it to Morogoro, Iringa, and Arusha. Mwanza's Mwanza-Usagara-JPM Bridge highway and Mbeya's TANZAM highway are being widened to four lanes. In Arusha and Kilimanjaro, new bypasses and bridges will be constructed, while bypass projects in Iringa and Songea are in advanced planning stages as of February 2025. The Tanroads is managing over 15,000km of roads across the cities, with 1,300km already completed as of February 2025. Scope Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Tanzania, featuring details of key growth drivers. Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline. Listings of major projects, in addition to details of leading contractors and consultants Reasons to Buy Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies Assess market growth potential at a micro-level with over 600 time-series data forecasts Understand the latest industry and market trends Formulate and validate business strategies using the analyst's critical and actionable insight Assess business risks, including cost, regulatory and competitive pressures Evaluate competitive risk and success factors Key Topics Covered: 1. Executive Summary2. Construction Industry: At-a-Glance3. Latest news and developments4. Project analytics5. Construction Market Data6. Risk Profile7. AppendixFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Business Wire
30-05-2025
- Business
- Business Wire
AM Best Withdraws Credit Ratings of Tugu Insurance Company Limited
HONG KONG--(BUSINESS WIRE)-- AM Best has withdrawn the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of 'bbb-' (Good) of Tugu Insurance Company Limited (TIC) (Hong Kong). At the time of the withdrawal, the outlook of these Credit Ratings (ratings) is stable. The rating withdrawals follow TIC's request due to its strategic decision to discontinue its participation in AM Best's interactive rating process. AM Best's procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, in this case, a final rating opinion could not be provided due to a lack of sufficient updated financial information and business plans necessary to support such an assessment. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Yahoo
26-05-2025
- Automotive
- Yahoo
Hydrogen Automotive Testing, Inspection, and Certification (TIC) Research Report 2024-2025 & 2030: Global TIC Leaders Like TUV SUD and SGS Strengthen Position in Hydrogen Vehicle Testing Ecosystem
Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market Dublin, May 26, 2025 (GLOBE NEWSWIRE) -- The "Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market by Service (Testing, Certification, Inspection, and Other Services), Region (Asia Pacific, North America, Europe) - Forecast to 2030" report has been added to hydrogen automotive testing, inspection, and certification (TIC) market is estimated to reach USD 35.8 million by 2030 from an estimated value of USD 18.3 million in 2024, at a CAGR of 11.8% The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen automotive testing, inspection, and certification (TIC) market. The market is driven by increasing adoption of hydrogen fuel cell vehicles, stringent safety and emission regulations, and rising investments in hydrogen infrastructure. Government incentives, growing environmental concerns, and advancements in hydrogen technology are boosting demand for quality assurance. Additionally, global standardization efforts and the expansion of hydrogen refueling networks are accelerating the need for TIC services. The hydrogen automotive testing, inspection, and certification (TIC) market is dominated by a few major players with a wide regional presence. The leading players are TUV SUD (Germany), UL LLC (US), Applus+ (Spain), TUV Rheinland (Germany), Kiwa (Netherlands), Intertek Group plc (UK), DEKRA IN (Germany), Societe Generale de Surveillance (SGS) SA (Switzerland), Southwest Research Institute (SwRI) (US), and Apave (France).Inspection segment is expected to remain the second-largest, by on service, the hydrogen automotive testing, inspection, and certification (TIC) market has been segmented into testing, inspection, and certification. The inspection segment is projected to be the second-largest segment in the hydrogen automotive testing, inspection, and certification (TIC) market. This growth is driven by the increasing need to ensure the integrity, safety, and performance of hydrogen-powered vehicles and infrastructure throughout their hydrogen vehicles operate under high-pressure systems and involve complex components such as fuel cells, tanks, and pipelines, regular inspection is critical to detect wear, corrosion, or potential failures. Regulatory bodies across regions are implementing stricter safety mandates, requiring routine inspection for certification and compliance. Moreover, the rapid deployment of hydrogen refueling stations and the growing production of hydrogen-powered fleets have increased the demand for on-site and in-service inspection solutions. These factors collectively drive the expansion of inspection services within the hydrogen automotive TIC The second-largest segment of the hydrogen automotive testing, inspection and certification (TIC) market, by vehicle vehicle type, the hydrogen automotive testing, inspection, and certification (TIC) market has been segmented into five categories: passenger cars, buses, light commercial vehicles, medium duty vehicles, heavy duty vehicles, and ICE hydrogen vehicles. The segment, buses, is expected to capture the second-largest share of the market by vehicle growth is driven by increasing government support for zero-emission public transportation and rising investments in sustainable urban mobility. Hydrogen-powered buses offer longer range and faster refueling than battery-electric counterparts, making them ideal for intercity and high-frequency routes. Several countries, particularly in Europe and Asia, are deploying hydrogen buses as part of their clean energy transition strategies. Additionally, the need for rigorous testing, inspection, and certification of fuel cell systems, storage tanks, and safety protocols is growing to ensure regulatory compliance and operational safety, further boosting TIC service demand in this Pacific is expected to be the second-fastest-growing region in the hydrogen automotive testing, inspection, and certification (TIC) Pacific is expected to be the second-fastest-growing region in the hydrogen automotive testing, inspection, and certification (TIC) market, driven by strong government initiatives, expanding hydrogen infrastructure, and increasing deployment of hydrogen-powered vehicles. Countries like Japan, South Korea, and China invest heavily in hydrogen mobility through national roadmaps, subsidies, and infrastructure development, including the rollout of hydrogen refueling stations and fuel cell vehicle fleets. Japan and South Korea are global pioneers in hydrogen fuel cell is rapidly scaling up its production and adoption of hydrogen commercial vehicles, particularly in logistics and public transportation. The region's focus on energy security and emission reduction aligns with the broader push for hydrogen adoption. Additionally, Asia Pacific has a strong automotive manufacturing base, fostering innovation and the integration of hydrogen systems into various vehicle types. As a result, there is a rising need for reliable testing, inspection, and certification services to ensure safety, performance, and regulatory compliance across the hydrogen automotive Benefits of Buying the Report The hydrogen automotive testing, inspection, and certification (TIC) market is influenced by the accelerating shift toward clean mobility, stringent environmental regulations, and the rapid deployment of hydrogen fuel cell vehicles across various transportation sectors. Growing investments in hydrogen infrastructure, coupled with government incentives for zero-emission vehicles, are propelling the need for rigorous testing, inspection, and certification services. As automotive manufacturers scale up hydrogen vehicle production, ensuring safety, performance, and compliance with international standards becomes critical. The expansion of hydrogen refueling networks, technological advancements in fuel cell systems, and the need for lifecycle quality assurance further fuel market growth. Product Development/Innovation: The hydrogen automotive testing, inspection, and certification (TIC) market is focused on enhancing safety, accuracy, and efficiency in testing, inspection, and certification processes. Companies invest in advanced diagnostic tools, real-time monitoring systems, and automated testing technologies to meet evolving regulatory standards. Innovations include non-destructive testing methods for high-pressure hydrogen components and digital platforms for compliance tracking. The integration of AI and IoT into TIC services is improving data-driven decision-making. These advancements support the growing complexity of hydrogen-powered vehicles and infrastructure, ensuring reliability and accelerating global adoption of hydrogen mobility solutions. Market Development: Hyundai Motor Company unveiled its new XCIENT Fuel Cell tractor, a commercialized Class 8 6x4 fuel cell electric model, for the North American commercial vehicle market at the Advanced Clean Transportation (ACT) Expo. Market Diversification: Nikola Corporation, a global company in zero-emissions transportation, and E. ON SE, an energy supply and infrastructure solution provider, signed an agreement with The Richter Group, a leading provider of individual logistics services, to decarbonize Richter Group's vehicle fleet by supplying hydrogen-electric trucks, the necessary green hydrogen, and the refueling infrastructure. Competitive Assessment: Assessment of rankings of some of the key players, including TUV SUD (Germany), UL LLC (US), Applus+ (Spain), TUV Rheinland (Germany), Kiwa (Netherlands), Intertek Group plc (UK), DEKRA IN (Germany), Societe Generale de Surveillance (SGS) SA (Switzerland), Southwest Research Institute (SwRI) (US), and Apave (France). Key Attributes: Report Attribute Details No. of Pages 171 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $18.3 Million Forecasted Market Value (USD) by 2030 $35.8 Million Compound Annual Growth Rate 11.8% Regions Covered Global Companies Featured TUV SUD UL LLC Applus+ TUV Rheinland Kiwa Intertek Group plc DEKRA IN Societe Generale de Surveillance SA (SGS) Southwest Research Institute (SwRI) Apave For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
19-05-2025
- Business
- Yahoo
First armor brigade conducts combat center rotation with new tools
The Army recently put its first armor brigade through a combat training center rotation under its new Transformation in Contact initiative. The 1st Armored Brigade Combat Team, 3rd Infantry Division launched Exercise Combined Resolve this past week in Hohenfels, Germany, at the Joint Multinational Readiness Center. The brigade is the first armored unit to conduct the new Transformation in Contact modernization effort. The initiative seeks to deliver new equipment to operational units as they prepare for major training events and deployments. The aim is to gain feedback and make adjustments to deployment needs while continuing the regular readiness preparation that operational units undergo for standard deployments. This Army division will change how armor brigades and divisions fight The initiative began with three infantry brigades, one each from the 101st Airborne Division, 25th Infantry Division and 10th Mountain Division. Those units saw the addition of Infantry Squad Vehicles, drones, sensing and strike capabilities. The work resulted in changes to the structure of the infantry brigade, which have since been dubbed 'Mobile Brigade Combat Teams.' Final decisions about the layout of those brigades have yet to be made. The TIC initiative continues with this armor brigade and seeks to raise those changes to the division level also, officials said. 'Raider Brigade is spearheading the Army's Transforming in Contact initiative and experimenting with new capabilities to enhance battlefield effectiveness while deployed to Europe,' said Maj. Gen. Christopher Norrie, commanding general of the 3rd Infantry Division. 'The lessons learned through this exercise will help inform the Army how an armored brigade combat team fights on future battlefields.' Exercise Combined Resolve pairs U.S. and NATO forces with partner nations to validate interoperability. The armor brigade used a variety of recently acquired unmanned robotic systems, counter drone tools and electromagnetic decoys during the training. The 1st ABCT's participation in TIC is structured around four key phases: adapting how the unit fights, integrating emerging technologies, reorganizing formations to suit mission needs and rapidly incorporating new capabilities as they become available, according to an Army release. Maj. Gen. Thomas Feltey told Army Times in April that his unit, 1st Cavalry Division, oversaw training for 3rd BCT, 10th Mountain Division during that unit's Germany rotation. The experience helped kickstart TIC work in the cavalry unit. But, Feltey said, the armor units have their own characteristics separate from the traditional dismounted infantry units. 'An ABCT has a lot of different moving pieces,' Feltey said. 'Our battlespace is much larger, and things move faster.' Feltey plans to convene senior armor leaders for feedback on how to reconfigure the units and their assets to capitalize on the new tech and approaches to fighting fast with armor. These sessions will be called 'Iron Horse sprints,' he said.
