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Alfa Laval signs an agreement to acquire the cryogenics business from the French group Fives

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LUND, Sweden, March 21, 2025 /PRNewswire/ — Alfa Laval today announces that it has signed a binding put-option agreement to acquire the Fives Cryogenics business unit, part of Fives Group, for a total fixed purchase price of EUR 800 million on a cash and debt-free basis. Fives Cryogenics is a world-leading expert in cryogenic heat transfer and pump technologies, headquartered in France. The proposed acquisition remains subject to consultation with the relevant works councils, after which the parties expect to enter into a definitive purchase agreement. This proposed acquisition would provide Alfa Laval with a strong portfolio of heat transfer and pump products for gas liquefaction.

Cryogenic technologies are crucial both for traditional gases like LNG and for emerging gas applications like hydrogen and carbon capture. Fives Cryogenics has more than 60 years of experience designing and manufacturing cryogenic heat exchangers and pumps for gas liquefaction. The company holds a strong position in the world market with manufacturing facilities in France, China and Switzerland. Fives Cryogenics employs more than 700 people and in 2024 had revenue of approximately EUR 200 million. Looking forward, the company is expected to generate revenue of EUR 200-250 million and be neutral to positive to the Alfa Laval group margin.

“By adding cryogenic technologies to the Alfa Laval portfolio, we would expand our capabilities to move energy efficiency and the energy transition forward,” says Tom Erixon, President and CEO, Alfa Laval. “We believe that Fives Cryogenics would be an excellent addition to Alfa Laval, and we see strong potential in the business and key synergies between Fives Cryogenics’ deep technological expertise in cryogenics and Alfa Laval’s strong position in the global gas market. We plan to continue to invest in capabilities and growth in the next few years, especially in the key production facility in Golbey, France.” 

“In the next growth phase, building on the investments realized and committed by the Fives Group, Fives Cryogenics would be well served by belonging to an industrial group with deep knowledge of the technology and a global presence in the future growth areas. With Alfa Laval, Fives Cryogenics would have a strong owner who I know would develop the company and the team further,” says Frédéric Sanchez, CEO of the Fives Group.

From an organizational perspective, the cryogenic business would be part of Alfa Laval’s Energy Division and operate as a new separate business unit.

Closing of the transaction is subject to the necessary regulatory approvals and is expected during 2025. The all-cash transaction will be funded by existing liquidity and debt financing. Jefferies acts as financial advisor to Alfa Laval, while White & Case acts as legal advisor.

This is information that Alfa Laval AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at CET 07:30 on 21 March 2025.

Contacts
Johan Lundin
Head of Investor Relations, Alfa Laval
Mobile: +46 730 46 30 90
johan.lundin@alfalaval.com

Sara Helweg-Larsen
Head of Communications, Alfa Laval
Mobile: +46 730 35 80 98
sara.helweglarsen@alfalaval.com

This is Alfa Laval

The ability to make the most of what we have is more important than ever. Together with our customers, we’re innovating the industries that society depends on and creating lasting positive impact. Alfa Laval is a leading global provider of first-rate products in the areas of heat transfer, separation and fluid handling. We’re set on helping billions of people to get the energy, food, and clean water they need. And, at the same time, we’re decarbonizing the marine fleet that is the backbone of global trade.

We pioneer technologies and solutions that enable our customers to unlock the true potential of resources. As our customers’ businesses grow stronger, the goal of a truly sustainable world edges closer. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets. Together, we’re pioneering positive impact.

Alfa Laval was founded 140 years ago, has customers in 100 countries, employs more than 22,300 people, and annual sales were SEK 66.9 billion (5.8 BEUR) in 2024. The company is listed on Nasdaq Stockholm. 
www.alfalaval.com

This information was brought to you by Cision http://news.cision.com.

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Alfa Laval signs an agreement to acquire the cryogenics business from the French group Fives Corporate press release 2025-03-21

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SOURCE Alfa Laval

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Fujitsu announces winners of Quantum Simulator Challenge

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Research teams judged on concrete proposals toward practical application of quantum computing

KAWASAKI, Japan, March 28, 2025 /PRNewswire/ — Fujitsu today announced the winners of its Quantum Simulator Challenge 2024, a competition to foster open innovation and identify practicial use cases for quantum computing. The awards ceremony will take place at Fujitsu Quantum Day 2025 Japan, an event for the quantum community, to be held on Friday, March 28, 2025, at Fujitsu Uvance Kawasaki Tower.

The Quantum Simulator Challenge, held for the second time in 2024, saw teams from academia and industry compete to develop quantum applications on Fujitsu’s 40-qubit quantum computer simulator, one of the largest of its kind in the world. The competition attracted 46 teams from 13 countries and regions who competed for a total prize fund of US$100,000. The collective usage of the quantum simulator by all participants during the competition period amounted to 2,282 job executions and 14,500 operational hours.

The first prize went to Delft University of Technology for its project ‘Industrial Shift Scheduling on the Fujitsu Quantum Simulator’. This project carried out a simulation to verify the optimization of the allocation of working hours for the different steps of a vehicle assembly and painting line. The simulation was based on the open-source Quantum Industrial Shift Scheduling (QISS) algorithm developed by the university, which enables the identification of the optimal shift scheduling solution. The project used up to 39 qubits and demonstrated that quantum computing technology can contribute to solving massive industrial optimization problems and was highly praised for its uniqueness and usefulness. Second prize was awarded to Technische Universität Ilmenau for their project “QuPIV – Quantum algorithm for cross-correlation analysis in particle image velocimetry” which presented a quantum solution for large-scale fluid analysis and utilized up to 32 qubits. Potential applications include aerospace and automotive engineering, urban pedestrian flow analysis, and microfluidics. Third prize was awarded to QunaSys Inc. for the project “Large-scale simulation of molecular electronic states using quantum phase estimation algorithm.” The simulation, which utilized up to 39 qubits, focused on the electronic states of hydrogen and ethane molecules, and was rated by the judges for its simulation efficiency.

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SOURCE Fujitsu Limited

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Tesco Business Solutions Wins Prestigious SSON Impact Award for World’s Best Global Business Services 2025

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The award has been bestowed on Tesco Business Solutions the second time in three years

BENGALURU, India, March 28, 2025 /PRNewswire/ — Tesco Business Solutions (TBS), the global solutions arm of Tesco Group, is thrilled to announce its triumph at the SSON Impact Awards 2025, securing the coveted title of World’s Best Global Business Services (GBS). This prestigious award recognises TBS’ exceptional performance and innovation in the GBS sector, highlighting the transformative power of its operational model.

The SSON Impact Awards, renowned for celebrating excellence in shared services and outsourcing, shortlisted TBS among the world’s leading GBS organisations. This victory underscores TBS’ commitment to delivering outstanding services, driving efficiency, and fostering continuous improvement.

“Winning the SSON’s World’s Best GBS Award for the second time in three years is a remarkable achievement and a proud moment for Tesco Business Solutions,” said Dr. Sumit Mitra, CEO of Tesco Business Solutions. “It reflects our relentless pursuit of excellence, innovation, and customer-centricity. Over the years, we’ve consistently raised the bar, redefining what best-in-class global business services look like. This win comes with incredible responsibility to raise the bar as well as sharing our know-how to help others. This recognition is not just a celebration of our journey but also a benchmark for the industry — a testament to the power of collaboration, technology, and a bold vision. I’m incredibly proud of our teams, whose passion and commitment have driven this success, and I look forward to continuing this journey of transformation.”

The SSON Impact Awards celebrate organisations that demonstrate remarkable achievements in areas such as process optimisation, technology adoption, talent development, and strategic impact. TBS’ win highlights its success in leveraging the GBS model to drive significant business outcomes and set industry benchmarks.

This achievement marks a significant milestone for TBS, reinforcing its reputation as an outstanding enterprise that embodies the transformative power of the GBS model. The award serves as a powerful motivator for TBS to continue pushing boundaries, innovating, and delivering world-class services.

“This is a proud moment for everyone at Tesco Business Solutions,” added Dr. Mitra. “We are committed to building on this success and continuing to deliver excellence in all that we do.”

About Tesco Business Solutions (TBS)

Established in 2017, Tesco Business Solutions (TBS) has evolved from a single entity traditional shared services in Bengaluru, India (from 2004) to a global, purpose-driven solutions-focused organisation. TBS is committed to driving scale at speed and delivering value to the Tesco Group through the power of decision science. With over 4,400 highly skilled colleagues globally, TBS supports markets and business units across four locations in the UK, India, Hungary, and the Republic of Ireland. The organisation underpins everything that the Tesco Group does, bringing innovation, a solutions mindset, and agility to its operations and support functions, building winning partnerships across the business. TBS’ focus is on adding value and creating impactful outcomes that shape the future of the business. TBS creates a sustainable competitive advantage for the Tesco Group by becoming the partner of choice for talent, transformation, and value creation.

About SSON Impact Awards

SSON’s Impact Awards cover critical areas that deliver quantifiable results. These include awards for Finance Transformation, Human Resources, Process Improvement/Value Creation, Talent Management, Business Resiliency, Automation, Diversity & Inclusion, and The World’s Best GBS presented by SSON Research & Analytics.

The awards are open to shared services and GBS globally, with winners announced at SSON’s flagship events – Shared Services and Outsourcing Week – in North America, Europe, Australia, and Asia. In each of these regions, Impact Award winners represent shared services operating peak performance and demonstrating leading practices.

These awards provide an opportunity for professionals and their teams to be recognized for their initiatives and achievements, reflecting these accolades back to their business customers and their organizations at large.

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Foxconn Chairman Young Liu to Deliver Keynote at COMPUTEX 2025

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TAIPEI, March 28, 2025 /PRNewswire/ — TAITRA (Taiwan External Trade Development Council), announced that Young Liu, Chairman of Hon Hai Technology Group (Foxconn), is invited to be the speaker at COMPUTEX 2025 Keynote, sharing his vision on three intelligent platforms driving industry transformation and the role of robotics in factories of the future. The keynote will be on 09:30, May 20, (UTC+8), at Taipei Nangang Exhibition Center Hall 2, 7F.

Foxconn, a leading technology major, has been applying and enabling the acceleration of artificial intelligence, actively integrating AI technology to build its three core platforms for governments and clients: Smart Manufacturing, Smart EV, and Smart City. Under the bold leadership of Foxconn Chairman Young Liu, named a “Best CEO” in Institutional Investor’s All-Asia Executive Team rankings, the world’s largest electronics manufacturing service provider is transforming itself into a global technology company providing AI-powered, platform-based solutions.

A recognized Top 100 Global Innovators by Clarivate, Foxconn is creating a new AI foundry, which represents not only a technological breakthrough but also a shift in mindset. By leveraging the knowledge and intelligence generated through Produce Token, the company aims to bring new value and possibilities to the industry. Its 3+3 strategy advances the company’s future growth in three major industries of electric vehicles, digital health and robotics, and three core technologies of AI, semiconductors and next-generation communications technologies.

COMPUTEX 2025 with the theme “AI Next,” is set to take place from May 20th to May 23rd at Taipei Nangang Exhibition Center Hall 1 & 2. This event will host nearly 1,400 exhibitors across 4,800 booths, showcasing three major themes: AI & Robotics, Next-Gen Tech, and Future Mobility.

Registration for COMPUTEX Keynote will open at early April, please stay tuned and follow us on our website.

For more exhibition information:
COMPUTEX: www.computextaipei.com.tw
InnoVEX: www.innovex.com.tw 

About COMPUTEX
COMPUTEX was founded in 1981. It has grown with the global ICT industry and become stronger over the last four decades. Bearing witness to historical moments in the development of and changes in the industry, COMPUTEX attracts more than 40,000 buyers to visit Taiwan every year. It is also the preferred platform chosen by top international companies for launching epoch-making products. 

Taiwan has a comprehensive global ICT industry chain. Gaining a foothold in Taiwan, COMPUTEX is jointly held by the Taiwan External Trade Development Council and Taipei Computer Association, aiming to build a global tech ecosystem. COMPUTEX uses cross-domain integration and innovation services as the most powerful driving forces for achieving the goal of becoming a new platform for global technological resources. 

About TAITRA:
Founded in 1970, TAITRA is Taiwan’s foremost nonprofit trade-promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises in expanding their global reach. Headquartered in Taipei, TAITRA has a team of 1,300 specialists and operates 5 local offices as well as 62 branches worldwide. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade.

TAITRA’s five local branch offices in Taoyuan, Hsinchu, Taichung, Tainan, and Kaohsiung provide services to companies outside metropolitan Taipei. Through these domestic offices, TAITRA is able to maintain close contact and interaction with local companies in their respective areas and provide direct and substantial services in areas such as feature trade promotion, business information, market seminars, on-the-job training, procurement meetings, meeting room rental, etc. Branch offices play vital roles in Taiwan Trade Shows coordination between Taipei headquarters and local companies, and invite buyers to visit local industries.

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SOURCE COMPUTEX

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