Author: Michelle Dryden

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MIPI Alliance announces honorees in 10th Annual Membership Awards ceremony

Ten recipients recognized for extraordinary contributions to MIPI specifications for mobile, IoT, security, automotive and more

 

PISCATAWAY, N.J. — (BUSINESS WIRE) — #MIPI — The MIPI Alliance, an international organization that develops interface specifications for mobile and mobile-influenced industries, today announced the recipients of the 2022 MIPI Alliance Membership Awards for their outstanding contributions and leadership. MIPI’s 10th annual awards ceremony took place last week in conjunction with MIPI Member Meeting #62 in Lisbon, Portugal.


“It is primarily because of the intense commitment of our growing membership that MIPI Alliance is able to succeed in our mission to deliver the interface specifications necessary to create state-of-the-art, innovative mobile-connected devices,” said Sanjiv Desai, chair of the MIPI Alliance.

 

“This awards ceremony is always a welcome opportunity to recognize those individuals and member companies who have given the most of themselves to MIPI activities and the industries we serve. We thank all of our members for their continued contributions.”

 

Individuals and companies are nominated by MIPI members. An awards and recognition committee appointed by the MIPI Board of Directors reviews and recommends nominees, and the board approves the final honorees. Ten award recipients in six categories were recognized in the 2022 program.

 

The Lifetime Achievement Award is presented to individuals with at least seven years of service to MIPI Alliance and who have provided noteworthy contributions or leadership to a working group, the board of directors or another MIPI area. Sergio Silva of Synopsys, Inc., was recognized for his ongoing influence and innovative contributions to MIPI M-PHY, particularly in both the electrical and digital domains. An active contributor for more than a decade, Silva recently brought forward a key proposal for the next version of the specification and has leveraged his profound knowledge of physical layer requirements to proactively resolve issues and challenges, and clarify M-PHY use cases.

 

The Corporate Award was presented to Western Digital Technologies Inc., a MIPI Alliance member since 2006, for outstanding leadership and contributions to the development of the MIPI M-PHY physical layer interface and the MIPI UniPro transport layer, both of which have been developed in collaboration with JEDEC for its widely implemented Universal Flash Storage standard. Western Digital representative Kirill Dimitrov assumed the chair role for the MIPI M-PHY Working Group in 2018 and received a 2021 MIPI Working Group Leadership Award.

 

The Working Group Leadership Award is presented to leaders within MIPI working groups in recognition of their noteworthy contributions to the groups’ activities or specification development. Two individuals were recognized for their efforts in 2022:

  • Philip Hawkes of Qualcomm Incorporated, co-chair of the MIPI Security Working Group, was recognized for his own contributions, as well as his efforts to encourage others to participate in the development of the forthcoming MIPI Security framework, which includes the MIPI Security v1.0 and MIPI Security Profiles v1.0 specifications. The group is also collaborating with the Camera Working Group to apply these specifications to securing MIPI CSI-2 data streams.
  • Niel Warren of Google LLC, chair of the MIPI Audio Working Group, was honored for his contributions and dedication in the development of MIPI SoundWire and the forthcoming MIPI SoundWire I3S (MIPI SWI3S) specification. Warren has been instrumental in soliciting member inputs, and under his leadership, working group participation has been at an all-time high.

 

Four members received the Distinguished Service Award, which recognizes individuals impacting the MIPI specification development process or those contributing by serving on the board of directors, a working group, or helping in the areas of marketing or testing:

  • Nadav Banet of Valens Semiconductor received the award for innovative contributions across the end-to-end MIPI Automotive SerDes Solutions (MASS) framework. The lead of the Camera Adaptation Layer Subgroup, Banet’s major inputs include the Service Extension Packet (SEP) format, which has been adopted by both the MIPI Camera Service Extensions (MIPI CSE) and MIPI Display Service Extensions (MIPI DSE) specifications.
  • Hendrik Lange of KIOXIA Corporation was recognized for his contributions to the development of MIPI UniPro v2.0. In addition to helping create a comprehensive and thorough Conformance Test Suite (CTS) for the newest version of UniPro, Lange helped ease implementation by ensuring high-quality descriptions were included in the specification.
  • Cédric Marta of Synopsys, Inc. was selected to receive this honor for his contributions to the MIPI Camera Working Group. As a co-vice chair of the working group, Marta has provided especially crucial support in discussions surrounding the MPI CSI-2 ecosystem and interoperability, and has served as a MIPI author to provide education on the features and capabilities of CSI-2.
  • Jürgen Urban of KIOXIA Corporation was recognized for his input in creating the CTS for MIPI UniPro v2.0. Urban was instrumental in applying new features and leading discussions on change proposals for the CTS, helping speed its completion. As a former chair of the UniPro Working Group, Urban also received a Working Group Leadership Award in 2014.

 

The Special Achievement Award is presented to individuals who actively and consistently perform and contribute toward MIPI Alliance objectives. The 2022 award was presented to Chris Grigg, MIPI’s specifications and technical editing director. For 10 years, Grigg has expertly managed the editing process for a growing portfolio of MIPI specifications and supporting documents to ensure high quality, clarity and consistency across all technical materials and Alliance policies.

 

The Legacy Award, presented posthumously for notable participation in MIPI Alliance, was presented to Paul Kimelman of NXP Semiconductors. A longtime contributor, Kimelman’s extraordinary leadership and tireless coordination were key to the development and promotion of MIPI I3C. He was also a notable contributor to MIPI Debug for I3C, authoring a key section of the specification.

 

For photos and information about past recipients, please visit https://www.mipi.org/membership/annual-awards.

 

To discover more about MIPI Alliance, subscribe to its blog and connect with its social networks by following MIPI on Twitter, LinkedIn and Facebook.

 

About MIPI Alliance

MIPI Alliance (MIPI) develops interface specifications for mobile and mobile-influenced industries. There is at least one MIPI specification in every smartphone manufactured today. Celebrating its 20th anniversary in 2023, the organization has over 375 member companies worldwide and more than 15 active working groups delivering specifications within the mobile ecosystem. Members of the organization include handset manufacturers, device OEMs, software providers, semiconductor companies, application processor developers, IP tool providers, automotive OEMs and Tier 1 suppliers, and test and test equipment companies, as well as camera, tablet and laptop manufacturers. For more information, please visit www.mipi.org.

 

MIPI®, A-PHY®, CSI-2®, M-PHY® and UniPro® are registered trademarks owned by MIPI Alliance. C-PHYSM, CSESM, D-PHYSM, DSESM, MIPI SecuritySM and SWI3SSM are service marks of MIPI Alliance.

Contacts

Becky Obbema

Interprose for MIPI Alliance

+1 408.569.3546

becky.obbema@interprosepr.com

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Business International & World Lifestyle Weather & Environment

Best’s Market Segment Report: French Insurers reconsider natural catastrophe assumptions following another very expensive year

AMSTERDAM — (BUSINESS WIRE) — #insurance — Growing frequency and severity of weather-related events such as drought, storms and wildfires are prompting French insurers and reinsurers to rethink their appetite and pricing for natural catastrophe risks, according to a new report from AM Best.

The Best’s Market Segment Report, “French Insurers Reconsider Natural Catastrophe Assumptions Following Another Very Expensive Year,” notes that record-breaking temperatures and severe droughts led to significant property damage losses in 2022. The latest estimate from France Assureurs puts insurers’ weather-related natural catastrophe losses for 2022 at around EUR 10 billion, prompting reinsurers to push up prices and tighten conditions in the January 1 renewals.

 

To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=329668.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Pierre Tournier
Associate Director, Analytics
+31 20 308 5423
pierre.tournier@ambest.com

Morgane Hillebrandt
Financial Analyst
+31 20 308 5422
morgane.hillebrandt@ambest.com

Mathilde Jakobsen
Director, Analytics
+31 20 808 3118
mathilde.jakobsen@ambest.com

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com

Categories
Digital - AI & Apps Lifestyle Technology

1Kosmos to present rollout blueprint for secure password-less access at 2023 Gartner IAM Conference

Experts will explain how to eliminate passwords with identity-based authentication, while overcoming deployment roadblocks and pitfalls

 

EAST BRUNSWICK, N.J — (BUSINESS WIRE) — #Blockchain—1Kosmos, the only company that unifies identity proofing and password-less authentication, today announced that it will present a session on eliminating passwords and deploying password-less multi-factor authentication (MFA) at the Gartner Identity & Access Management Summit, March 22 at the Gaylord Texan Hotel & Convention Center in Grapevine, Texas.

 

WHO: Javed Shah, Senior Vice President of Product Management for 1Kosmos is a 22 year veteran in the identity management industry. Prior to 1Kosmos, Javed worked at ForgeRock, where he held several leadership roles in the pre-Sales and product management organizations. He has also served in senior technical and architecture roles with Hewlett Packard Enterprise, Kaiser Permanente, Prolifics and Persistent Systems.

 

Robert MacDonald, Vice President of Product Marketing for 1Kosmos has more than 15 years of global marketing experience in identity software. Rob managed product strategy and vision for the Identity and Access Management portfolio at Micro Focus, was responsible for content planning, sales enablement and GTM activities for ForgeRock, and has held senior marketing positions at Entrust, Dell, Quest and Corel Corporation.

 

WHAT: Traditional identity and access management frameworks are failing miserably, with passwords remaining the weakest link in the security chain. According to one recent survey, 84% of firms have suffered an identity-related breach in the past 12 months. It’s no surprise that deploying passwordless MFA is gaining mindshare among IT and security leaders as a way out of the whac-a-mole approach to security. But where should they begin? This session will explain the benefits, challenges and pitfalls to avoid for eliminating passwords and implementing a controlled deployment of passwordless MFA, including:

  • Why the rush to passwordless authentication often signals a deeper identity issue
  • The difference between device based and identity based biometrics
  • How to deploy a controlled rollout of passwordless MFA

 

WHERE: Gartner Identity & Access Management Summit,

Gaylord Texan Hotel and Convention Center, Grapevine, Texas

WHEN: Secure Passwordless – Yes You Can!

Wednesday, March 22nd at 9:45 AM local time

HOW: To schedule a conversation with 1Kosmos, contact Marc Gendron at marc@mgpr.net or +1 617.877.7480.

 

About 1Kosmos

1Kosmos enables passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in Somerset, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn.

Contacts

Media:
Marc Gendron

Marc Gendron PR for 1Kosmos

617.877.7480

marc@mgpr.net

Categories
Regulations & Security Special/Sponsored Content

Bronstein, Gewirtz & Grossman, LLC notifies Y-mAbs Therapeutics, Inc. (YMAB) investors of class action and to actively participate

NEW YORK — (BUSINESS WIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Y-mAbs Therapeutics, Inc. “(Y-mAbs” or the “Company)” (NASDAQ: YMAB) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Y-mAbs securities between Oct. 6, 2020 and Oct. 28, 2022, both dates inclusive (the “Class Period).” Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ymab.

 

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

 

The Complaint alleges that throughout the Class Period, Y-mAbs misrepresented to investors that, pursuant to a series of meetings and other communications between Y-mAbs and the FDA, that progress was being made that would align with the FDA’s requirement to demonstrate substantial evidence of effectiveness, sufficient for approval of omburtamab. What was unknown to investors was that the FDA had repeatedly advised Y-mAbs that the treatment of effect of omburtamab cannot be objectively established or quantified based on a comparison between Study 03-133 and an external cohort comprised of data from the Central German Childhood Cancer Registry (CGCCR) database because of substantial differences in the patient populations, and the absence of tumor response data, and that Study 101 was neither sufficiently advanced nor indicative of efficacy to justify approval. Further, Y-mAbs failed to advise investors that it had elected to submit the March 31, 2022 BLA prior to reaching agreement with the FDA on the content of the application.

 

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/ymab or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Y-mAbs, you have until March 20, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com

Categories
Business Culture News Now! Perks

Cherry Hill Mortgage Investment Corporation announces appointment of Sharon Lee Cook to Board of Directors

FARMINGDALE, N.J. — (BUSINESS WIRE) — Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is pleased to announce the appointment, effective as of March 8, 2023, of Sharon Lee Cook to the Board of Directors to serve out the term of Ms. Regina Lowrie, who passed away on January 1, 2023.

 

Ms. Cook is independent in accordance with NYSE listing standards, has been appointed to serve on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committees of the Board and will participate in the same compensation programs as the other non-management directors.

 

“We are excited to welcome Ms. Cook to our Board,” said Jay Lown, President and Chief Executive Officer of Cherry Hill Mortgage Investment Corporation.

 

“We are thrilled to have someone of her caliber and wealth of experience to further strengthen our Board, and I have the utmost respect for Ms. Cook both personally and professionally. We expect her insights and perspective will provide us with considerable value as we navigate through the current environment.”

 

Ms. Cook is the founder and president of OLE Three Consulting, Inc., a management advisory firm that she founded in March 2022.

 

Previously, she was a managing director at securities firm Incapital LLC, a managing director at investment banking firm D.A. Davidson & Co., and a managing director at Sterne, Agee & Leach Inc. Before that, Ms. Cook was a senior economic and policy advisor to the deputy director of the U.S. Department of Treasury’s Office of Thrift Supervision where she participated in the resolution of failing banks, and the development of the Troubled Assets Relief Program (TARP) and the Home Affordable Modification Program (HAMP).

 

Earlier in her career, Ms. Cook spent 12 years as a managing director at investment management firm Legg Mason Wood Walker Inc. and was the deputy assistant director at the Federal Deposit Insurance Corporation (FDIC) for five years. She is a member of the board of directors of the Prevent Cancer Foundation, where she serves on the Finance Committee, and she is a member of the National Association for Corporate Directors. She is a graduate of The George Washington University.

 

About Cherry Hill Mortgage Investment Corporation

Cherry Hill Mortgage Investment Corporation is a real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. For additional information, visit www.chmireit.com.

Contacts

Investor Relations

(877) 870 –7005

InvestorRelations@CHMIreit.com

Categories
Business Lifestyle

AM Best places Credit Ratings of Universal North America Insurance Company under review with negative implications

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Universal North America Insurance Company (UNAIC) (Arlington, TX).

 

The Credit Ratings (ratings) have been placed under review with negative implications due to a delay of UNAIC’s year-end 2022 annual statement filing. The negative implications take into consideration the uncertainty surrounding the balance sheet strength and operating performance assessments.

 

UNAIC’s ratings had negative outlooks prior to them being placed under review based on concerns regarding the volatile results and the potential for a change in their business profile. In addition, there is uncertainty at the enterprise level due to issues at an affiliated company. The ratings will remain under review until AM Best can analyze the company’s year-end 2022 results.

 

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.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Janet Hernandez
Senior Financial Analyst
+1 908 439 2200, ext. 5767
janet.hernandez@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Joseph Burtone
Director
+1 908 439 2200, ext. 5125
joseph.burtone@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business

AM Best revises outlooks to negative for Texas Farm Bureau Casualty Group members, affirms Credit Ratings of affiliates

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Texas Farm Bureau Casualty Insurance Company and Farm Bureau County Mutual Insurance Company of Texas. These two companies comprise the Texas Farm Bureau Casualty Group (the Group).

 

Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Texas Farm Bureau Mutual Insurance Company and Texas Farm Bureau Underwriters. The outlook of these Credit Ratings (ratings) is stable. These companies are affiliates of the Group and are collectively referred to as Texas Farm Bureau Mutual Group (Texas Mutual). All companies are domiciled in Waco, TX.

 

The ratings of the Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

The Group’s balance sheet strength is supported by its risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), a relatively conservative investment portfolio, adequate liquidity measures and a comprehensive reinsurance program. The operating performance assessment is adequate, but underwriting volatility has adversely impacted 2021 and 2022 results. The limited business profile reflects the Group’s geographic concentration within Texas, which has resulted in volatility in certain years. AM Best considers the Group’s ERM program to be appropriate for its size and scale of operations.

 

The revision of the outlooks to negative reflects pressure on the Group’s operating performance relative to AM Best’s current adequate assessment. Unfavorable underwriting results over the last two years were driven by elevated catastrophic weather events, along with industry-wide challenges being experienced in the private passenger auto line of business. Results in 2021 were impacted by multiple severe weather events in Texas, and 2022 results were mainly impacted by an increase in total loss severity as a result of inflation and corresponding loss cost pressures. Management has responded by implementing rate increases across all lines of business, as well as more granularity in pricing segmentation with a focus on improving rate adequacy in an effort help stabilize results.

 

The ratings of Texas Mutual reflect its balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile, appropriate ERM, as well as rating enhancement given the level of its integration within the Group.

 

Texas Mutual’s balance sheet strength is supported by its risk-adjusted capitalization at the strongest level, as measured by BCAR, a relatively conservative investment portfolio, adequate liquidity measures and a comprehensive reinsurance program. The marginal operating performance assessment is due to performance fluctuations driven by weather-related losses. Texas Mutual’s limited business profile reflects its geographic concentration within Texas, which has resulted in volatility in certain years. AM Best considers Texas Mutual’s ERM program to be appropriate for its size and scale of operations.

 

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.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Nicholas Matukaitis
Financial Analyst
+1 908 439 2200, ext. 5486
nicholas.matukaitis@ambest.com

Richard Attanasio
Senior Director
+1 908 439 2200, ext. 5432
richard.attanasio@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Lifestyle Science

Cintas’ LED lighting transition nears completion

LEDs, other facility-related energy-reduction projects are part of the company’s ambition to achieve Net Zero GHG emissions by 2050

 

CINCINNATI — (BUSINESS WIRE) — $CTAS — Cintas Corporation (Nasdaq: CTAS) is nearing completion of a multi-year companywide LED lighting transition project to help reduce facility-focused energy use and support the company along its Path to Net Zero.


Cintas’ 475 facilities throughout the United States and Canada fulfill the needs of its four business divisions. These field locations, distribution centers and corporate facilities combine for about 23 million square feet of space that requires heating, cooling and appropriate lighting.

 

Cintas identified an opportunity to decrease energy use by installing LED lights at its older, more energy-intensive locations, and initiated the company-wide LED transition project in FY’19.

 

Cintas’ Quality and Engineering Team completed LED installations at more than 125 locations by the end of the company’s fiscal year 2022, and entered the current fiscal year with fewer than 50 target facilities remaining in the current phase.

 

“We’ve already installed LED lighting in over 6 million square feet of space in our facilities, which is poised to reduce our annual energy use by almost 23.3 million kilowatt hours going forward,” said Christy Nageleisen, Cintas’ Vice President of ESG.

 

More than 27,000 incandescent and fluorescent lighting fixtures have been swapped out, and the energy savings generated by the LEDs represents more than 16,500 metric tons of CO2 emissions averted annually.

 

> VIDEO (YouTube): Cintas Uses LED Lighting Conversions to Reduce Energy Requirements

 

A Strategic Plan

The lighting transition project is part of Cintas’ strategic ambition to achieve Net Zero GHG emissions by 2050.

 

“We’re not waiting until 2050 to start,” said Mark Bolen, Cintas Vice President of Quality & Engineering. “We’re looking at all avenues to see where it makes the most sense, where our dollar has the best return, and it’s not just lighting. It’s being better environmental stewards.”

 

Cintas reduced its energy consumption intensity by 7.9% from FY’21 to FY’22, which included the expanding impact of the LED lighting transition project.

 

A Comprehensive Approach

Cintas’ facility-focused energy reductions go beyond LED lighting conversions.

 

“Sustainability and energy efficiency plays a key role for us, primarily because our products are delicate and they require a lot of attention that we provide to our customers,” Bolen said. “Engineering is constantly looking at ways to find equipment that is more reliable – more energy efficient – to ultimately reduce our reliance on energy.”

 

To that end, Cintas is exploring opportunities to test solar technology. Working with the state of New Jersey, Cintas identified the opportunity to install its first solar-powered system at the company’s Rental location in Piscataway, N.J.

 

The project is underway and is expected to be fully installed and operational in the late spring of 2023. Once online and connected to the energy grid, Cintas’ first solar system installation will allow the company to evaluate its year-round performance and compare the costs with traditional utility-based energy sources.

 

Cintas’ Engineering Team and its Facility Team area also evaluating other energy- and water-reduction capabilities for its existing and future facilities.

 

Some Cintas facilities currently have various energy-reduction technologies installed, including entrances with multiple doors, timing mechanisms on the HVAC and lighting systems, water-flow reducers and thermoplastic polyolefin (TPO) roofs and ceilings made of lighter-colored materials to reflect radiant heat.

 

Additionally, all new Cintas buildings constructed since 2017 have been built with LED lighting systems installed. This includes external LED lighting configurations that create zero light spillage (also known as photometric pollution) at Cintas’ property boundaries.

 

As a result of the Path to Net Zero and the company’s overall Operational Excellence and Reliability initiatives, Cintas is also investigating the potential benefits of standardizing facility plans that incorporate a consistent set of energy-reducing technologies across all Cintas operations.

 

Learn More about Cintas’ ESG Journey

 

About Cintas Corporation

Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.

Contacts

Lizz Summers, Cintas Director of Corporate Affairs | summerse2@cintas.com, 513-972-2859

Categories
Business Lifestyle Perks Science

Wee-Wee® Eco Pads named among the Best Eco-Friendly Puppy Training Pads of 2023

NEPTUNE CITY, N.J. — (BUSINESS WIRE) — $CENT #FourPaws — Four Paws®, a leading pet brand in the Central Garden & Pet portfolio (Nasdaq: CENT) (Nasdaq: CENTA), and their Wee-Wee® Eco Pads were listed among “The 7 Best Eco-Friendly Puppy Training Pads of 2023” by Treehugger, an award-winning sustainability website that provides information centered on eco-friendly lifestyles.


“Our Wee-Wee products provide a worry-free housetraining and waste management experience to help keep pets comfortable and give pet parents peace of mind with a cleaner home and cleaner environment,” said Glen S. Axelrod, President and CEO of Four Paws. “That’s why it’s our ongoing mission and responsibility to continue creating innovative solutions with a focus on sustainability that pet parents can trust.”

 

All products in Treehugger’s list were evaluated based on criteria including environmental impact, effectiveness, ease of use, design, and function. The website’s writers and editors independently research, test, review, and recommend products that are deemed the best.

 

Wee-Wee Superior Performance Eco Pads combine Earth-friendly materials with the proven dependability that the Four Paws brand has delivered for over 50 years. Featuring a leak-proof liner made of 50% recycled materials, each pad offers absorbent bleach-free & dye-free layers and 24-hour protection for a cleaner home—and a cleaner planet! As with all Wee-Wee branded pads, satisfaction is guaranteed or your money back.

 

Supporting the Four Paws Earth-friendly mission, these eco-centric pads are made with ethically sourced and sustainable materials. All Wee-Wee branded pads come in smarter, compact packaging to help minimize waste, improve transportation efficiency, and reduce pollution. In addition, Wee-Wee Pads are manufactured in facilities that utilize partial solar energy, partially recycled water, and operational efficiencies to help reduce waste, energy, and emissions.

 

Wee-Wee Eco Pads are available at select in-store retailers and online at Amazon, Petco, Chewy, and Walmart.com.

 

About Four Paws

Four Paws, a leader in innovative pet solutions for more than 50 years, offers products that simplify pet parenting. The brand’s dog & cat products make nose-to-tail care easy and include training pads, supplements, grooming tools, and beyond. For more information, visit www.fourpaws.com. Four Paws is a subsidiary of California-based Central Garden & Pet Company.

 

About Central Garden & Pet

Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With fiscal 2022 net sales of $3.3 billion, Central is on a mission to lead the future of the Pet and Garden industries. The Company’s innovative and trusted products are dedicated to helping lawns grow greener, gardens bloom bigger, pets live healthier, and communities grow stronger. Central is home to a leading portfolio of more than 65 high-quality brands including Amdro®, Aqueon®, Cadet®, Farnam®, Ferry-Morse®, Four Paws®, Kaytee®, K&H®, Nylabone® and Pennington®, strong manufacturing and distribution capabilities and a passionate, entrepreneurial growth culture. Central Garden & Pet is based in Walnut Creek, California and has over 7,000 employees across North America and Europe. Visit www.central.com to learn more.

Contacts

PR Contact

Liz Nunan

Phone: (925) 878-9465

Email: Lnunan@central.com

Categories
Business

AM Best assigns Issue Credit Rating to Ameriprise Financial, Inc.’s new senior unsecured notes

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently announced $750 million, 5.15% 10-year senior unsecured notes, due May 15, 2033, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in Minneapolis, MN) [NYSE: AMP]. The outlook assigned to the Credit Rating (rating) is stable. All other ratings of Ameriprise Financial and its subsidiaries are unchanged.

The proceeds from this debt issuance are expected to be used for general corporate purposes, which may include repurchasing all of Ameriprise’s $750 million, 4.0% senior unsecured notes maturing in October 2023. The impact of this issuance on Ameriprise’s debt leverage is expected to increase temporarily over the near term as a higher leverage ratio will be realized prior to the note redemption before decreasing to the lower 30% range; AM Best expects the interest coverage with this debt issue to remain very favorable.

 

Ameriprise’s liquidity position is strong, with the parent company holding highly liquid cash and cash equivalents of $6.9 billion at year-end 2022. The company’s full-year 2022 pre-tax adjusted operating income was $2.6 billion and net cash from operations was $4.4 billion. In Ameriprise’s most recent disclosure, a primary driver of the results was attributed its advice and wealth Management segment, in which it reported reaching a new margin high of 30%; other business segments have also done well. The company’s retirement services segment increased 25% year-over-year to reach $229 million, driven by higher investment income and lower amortization of deferred acquisition costs offset by lower sales levels.

 

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.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Wayne Kaminski
Senior Financial Analyst
+1 908 439 2200, ext. 5061
wayne.kaminski@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jacqalene Lentz
Director
+1 908 439 2200, ext. 5762
jacqalene.lentz@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com