AUSTRALIA > US based Progress Rail has signed an agreement to acquire Downer Freight Rail

Progress Rail logo Progress rail, a Caterpillar company, has signed an agreement to acquire Downer Freight Rail. Downer Freight Rail provides a full suite of rolling stock, aftermarket parts and services. It is headquartered in North Ryde and has 15 maintenance facilities throughout Australia. With this acquisition, Progress Rail and Downer, that have already been in business for nearly 70 years, will further More …

UK > US based Vector Capital invests $77 million in UK based CloudSense

Vector Capital logo US based Vector Capital has decided to invest $77 million growth investment in CloudSense, a leading Salesforce- native industry specific cloud company. The funding will be utilized to accelerate CloudSense’s global expansion program and will concentrate specially in the North American market. The investment will also be utilized for development of enterprise focused vertical solutions and product innovation in CloudSense. More …

LUXEMBOURG > US based Citibank is set to open a branch in Luxembourg after Brexit

citibank logo After Brexit, US based Citi bank is set to open a European private banking hub in Luxembourg. This news has been confirmed by the bank’s private bank which services clients with more than $25 million in total assets will benefit from the booking center in Luxembourg to mitigate potential disruption to business that might result from Brexit. Other banks especially More …

SLOVAKIA > Canada based Magna Mirror relocated its existing manufacturing factory in Nove mesto nad Vahom to a larger facility investing additional $30 million

Magna logo Due to business growth, Magna Mirror has relocated to a larger facility investing $30 million and creating additional 150 new jobs. The new investment will go primarily to refurbish the building and install a new automated paint line. Almost twice the size of the existing facility, the new factory will be 27,820 square meters. Magna is already serving its customers More …

LITHUANIA> German based Continental is set to construct a manufacturing plant in Lithuania investing €95 million ($112 million)

Continental logo To expand its automotive electronics production footprint, automotive technology company Continental is set to construct a new manufacturing plant in Lithuania. Specially to increase the production of electronic components for European markets, the company has chosen the Kaunas region and is scheduled to open in the middle of 2018. The €95 million ($112 million) investment is scheduled for the next More …

AUSTRALIA> Singapore based WEFIC and Australia based KINETIC jointly announce the launch of a service facility

WEFIC logo Marking an important milestone in promoting high-end marine wellheads in Australia, Singapore based WEFIC and Australia based KINETIC jointly announced the launch of a service facility. According to Willy Ben Ng, Vice President of WEFIC: “Given the strong market demand for wellhead products and the tight delivery requirements in relation to the Australian market, WEFIC decided to partner with KINETIC More …

NETHERLANDS > Japan’s Mitsubishi UFJ Financial Group has chosen Amsterdam, the Netherlands as post- Brexit EU HQ

MUFG logo Mitsubishi UFJ Financial Group has chosen Amsterdam, the Netherlands as its post Brexit EU head quarter which would initially impact less than 100 jobs but eventually could lead to several hundred staff shifted out of London. MUFG currently employs around 2,100 employees in London. The corporate and retail banking of MUFG EU HQ has already been shifted to Amsterdam and More …

LITHUANIA > Sweden based Telia set to establish Center of Excellence in Vilnius, Lithuania

Telia logo To provide a wide array of services to companies in the Telia Group, Sweden based Telia is set to establish a Center of Excellence in Vilnius. The center will provide IT, tech and other internal services to Telia offices in Northern Europe, Central Europe and Central Asia. Located in the K29 business center in Lithuania’s capital, the office is set More …