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Micron Updates Its Data Center Portfolio Strategy To Meet Them

BOISE, Idaho, March 16, 2021 (GLOBE NEWSWIRE) – Micron Technology, Inc. (Nasdaq: MU), today announced updates to the company’s portfolio strategy to further strengthen its focus on innovations in terms of memory and storage for the data center. Micron will increase its investment in new memory products that leverage the Compute Express Link ™ (CXL ™), the industry standard interface recently introduced that enables a flexible connection between compute, memory and storage. Effective immediately, Micron will cease development of 3D XPoint ™ and reallocate resources to focus on accelerating the market introduction of CXL compatible memory products.

“Memory and storage are critical to the data economy, and the need for innovation in data center memory has never been greater,” said Micron President and CEO, Sanjay Mehrotra. “As a leader in memory and storage, Micron is committed to being at the forefront of innovation to unlock the next generation of data centers. Today’s announcement reflects our commitment to investing in high value solutions for clients that also deliver strong returns for shareholders.

The wide proliferation of artificial intelligence and advancements in data analytics are driving workload demands that require change in compute architectures. The CXL interface opens up new avenues for innovation and platform optimization in the data center. Micron sees immense promise in new classes of memory-centric solutions that use CXL to scale the capacity, performance and content required by applications to run on infrastructure with greater architectural freedom.

Additionally, Micron has now determined that market validation is insufficient to justify the high levels of continued investment required to successfully commercialize 3D XPoint at scale to meet the evolving memory and storage needs of its customers. The changes to Micron’s portfolio do not impact the company’s overall technology investment levels, as its focus on emerging memory solutions remains unchanged. Micron plans to apply the knowledge gained from the breakthroughs achieved through its 3D XPoint initiative, along with the associated engineering expertise and resources, to new types of memory-centric products that target the memory-storage hierarchy.

In line with this new strategic focus, Micron is engaged in discussions for the sale of its plant in Lehi, Utah, currently dedicated to 3D XPoint production. The company aims to close a sale agreement in calendar year 2021.

These actions today may result in some non-recurring items in the Company’s GAAP financial results, but are expected to have a positive impact on Micron’s short- and long-term non-GAAP financial performance.

Micron will host an investor conference call today at 3:00 p.m. MT at http://investors.micron.com. Replays of the webcast are available on Micron’s investor relations website and will be available for approximately one year after the call.

About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions that are transforming the way the world uses information to enrich life. for everyone. With a relentless focus on our customers, technological leadership, and excellence in manufacturing and operations, Micron offers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® brands and Crucial®. Every day, innovations created by our people fuel the data economy, enabling advancements in artificial intelligence and 5G applications that unlock opportunity, from the data center to the smart edge and across the customer and user experience. mobile. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2021 Micron Technology, Inc. All rights reserved. Information, products and / or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron marks are the property of Micron Technology, Inc. All other marks are the property of their respective owners.

Forward-looking statements
This press release contains forward-looking statements regarding our industry, our strategic position, expected investments, products, potential transactions, and financial and operating results. These forward-looking statements are subject to a number of risks and uncertainties which could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, in particular our most recent Forms 10-K and 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at www.micron.com/certainfactors. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future results, activity levels, performance or achievements. We are under no obligation to update any forward-looking statements after the date of this release to conform such statements to actual results.

Micron Press Relations Contact
Erica Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com

Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com


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Micron Updates Its Data Center Portfolio Strategy To Meet Them

BOISE, Idaho, March 16, 2021 (GLOBE NEWSWIRE) – Micron Technology, Inc. (Nasdaq: MU), today announced updates to the company’s portfolio strategy to further strengthen its focus on innovations in terms of memory and storage for the data center. Micron will increase its investment in new memory products that leverage the Compute Express Link ™ (CXL ™), the industry standard interface recently introduced that enables a flexible connection between compute, memory and storage. Effective immediately, Micron will cease development of 3D XPoint ™ and reallocate resources to focus on accelerating the market introduction of CXL compatible memory products.

“Memory and storage are critical to the data economy, and the need for innovation in data center memory has never been greater,” said Micron President and CEO, Sanjay Mehrotra. “As a leader in memory and storage, Micron is committed to being at the forefront of innovation to unlock the next generation of data centers. Today’s announcement reflects our commitment to investing in high value solutions for clients that also deliver strong returns for shareholders.

The wide proliferation of artificial intelligence and advancements in data analytics are driving workload demands that require change in compute architectures. The CXL interface opens up new avenues for innovation and platform optimization in the data center. Micron sees immense promise in new classes of memory-centric solutions that use CXL to scale the capacity, performance and content required by applications to run on infrastructure with greater architectural freedom.

Additionally, Micron has now determined that market validation is insufficient to justify the high levels of continued investment required to successfully commercialize 3D XPoint at scale to meet the evolving memory and storage needs of its customers. The changes to Micron’s portfolio do not impact the company’s overall technology investment levels, as its focus on emerging memory solutions remains unchanged. Micron plans to apply the knowledge gained from the breakthroughs achieved through its 3D XPoint initiative, along with the associated engineering expertise and resources, to new types of memory-centric products that target the memory-storage hierarchy.

In line with this new strategic focus, Micron is engaged in discussions for the sale of its plant in Lehi, Utah, currently dedicated to 3D XPoint production. The company aims to close a sale agreement in calendar year 2021.

These actions today may result in some non-recurring items in the Company’s GAAP financial results, but are expected to have a positive impact on Micron’s short- and long-term non-GAAP financial performance.

Micron will host an investor conference call today at 3:00 p.m. MT at http://investors.micron.com. Replays of the webcast are available on Micron’s investor relations website and will be available for approximately one year after the call.

About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions that are transforming the way the world uses information to enrich life. for everyone. With a relentless focus on our customers, technological leadership, and excellence in manufacturing and operations, Micron offers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® brands and Crucial®. Every day, innovations created by our people fuel the data economy, enabling advancements in artificial intelligence and 5G applications that unlock opportunity, from the data center to the smart edge and across the customer and user experience. mobile. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2021 Micron Technology, Inc. All rights reserved. Information, products and / or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron marks are the property of Micron Technology, Inc. All other marks are the property of their respective owners.

Forward-looking statements
This press release contains forward-looking statements regarding our industry, our strategic position, expected investments, products, potential transactions, and financial and operating results. These forward-looking statements are subject to a number of risks and uncertainties which could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, in particular our most recent Forms 10-K and 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at www.micron.com/certainfactors. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future results, activity levels, performance or achievements. We are under no obligation to update any forward-looking statements after the date of this release to conform such statements to actual results.

Micron Press Relations Contact
Erica Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com

Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com


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Budget stimulation and portfolio strategy: your …

Policymakers often use fiscal stimulus to fuel the economic embers and steer the economy towards long-term political goals. Should you incorporate budget spending indices into your portfolio strategy?



5 minutes to read

Photo by Getty Images

Key points to remember

  • Fiscal stimulus can act as a tailwind for the wider market

  • The long-term effects of stimulus in the market send a mixed message

  • Track your goals when considering stimulus-driven portfolio strategy changes

Janet Yellen thinks we need it. Jerome Powell too. We’re talking fiscal stimulus, of course, and Congress seems poised to pass the third one over the past year, with encouragement from the Treasury Secretary and Federal Reserve Chairman.

Wall Street embraced the idea, with major stock indexes registering new all-time highs in early 2021 based (in part) on the hope that another stimulus could recharge the economy. But as an individual investor, are there specific ways to approach your portfolio strategy as more money flows out of Washington? Here is a preview.

Why stimulate, and why now?

“For years, the Fed has supported the economy through monetary policy, using a number of unconventional tactics, in an attempt to avoid deflation or a slowdown,” said Keith Denerstein, director of guidance at TD Ameritrade. “They begged Congress to supplement their policies with fiscal stimulus, but it took the pandemic for lawmakers to respond. “

It certainly helps that Yellen served as Fed chairman before joining the Biden administration as head of the Treasury.

Conventional wisdom suggests that stimulus measures can sometimes help sectors that benefit from infrastructure spending, such as materials or industrial products, and help growth sectors like technology. If inflation occurs because of an increase in federal spending, it can sometimes stimulate sectors that tend to benefit from inflation, such as financial services and consumer discretionary.

Past priority, however, paints a darker picture, making it difficult for investors to just log on and leave when Congress acts.

There are a number of precedents to consider, but here are two recent examples: the CARES law of last year, which injected around $ 2.2 trillion, and the 2009 stimulus during the last financial crisis, which was a just under $ 1,000 billion. If you’re an investor considering this new $ 1.9 trillion stimulus proposal that President Biden is expected to sign by mid-March, it’s important to understand what effect past stimulus measures have had on the market. .

But there’s the bigger problem: where the fiscal stimulus (and where it might be headed) should fit into your portfolio allocation decision.

Industry winners and losers and global “Sugar High”

First, let’s take a look at when, where, and why. Policymakers often use fiscal and monetary stimulus measures to fuel the economic embers and steer the economy towards long-term policy goals. As Denerstein explained, fiscal stimulus can be “a powerful accelerator of economic rebound, but its impact depends on how it is deployed.”

And the effect is generally felt in the financial markets; not just in the first few months after passing it, but over longer periods. From the start, a fiscal stimulus can give the market the equivalent of a ‘sugar high’, as investors contemplate the possible impact of a lot of cash on the economy, but the longer-term impacts are less clear. . And as Denerstein pointed out, “some policies could be used to increase consumer savings, with a smaller than expected increase in upfront spending.”

After the sugar peak, but before the stimulus makes its way into the economy, markets may go through a period of “regrets” where worries about possible overheating and inflation push stocks down. This is what appeared to happen in late February when the stock market hiccupped.

“At this point, the market response is driven more by fears that additional fiscal stimulus could overheat the economy, leading to soaring inflation, than by enthusiasm for increasing GDP than stimulus. could result, ”Denerstein said.

As an investor, it is more important to understand the long-term impact of stimulus measures and to remain cautious about short-term gains or losses in your portfolio.

For example, the CARES 2020 law – signed by President Trump at the start of the COVID-19 pandemic – may have been one of the factors in the “whole rally” that began last spring and continued for most of the year. It is said that a rising tide lifts all boats, and in this case this applied to the stock market … with the exception of two sectors:

  • Energy. When the economy returned home and locked the doors, the outlook for energy consumption plunged, hampering commodity prices.
  • Finance. Banks tend to struggle when interest rates drop to the basement.

The other nine sectors of the S&P 500 worked together, with so-called “defensive” segments of the market rising even as growth areas like communications technology and services led the way.

Lessons from the financial crisis and the 2009 recovery

It’s natural to think that growth sectors would always be the leaders in any sort of stimulus-related rally, but that’s not always the case. Let us return to the period 2010-12. The economy was emerging from the recession and had just received a stimulus.

A look at the performance of the sector then does not show much trend:

  • Technology topped all sectors in 2009, but did not finish in the top three sectors for the next three years.
  • Consumer discretionary and Immovable most often appeared in the top three between 2010 and 2012.
  • Industrial and Materials– two sectors which, according to conventional wisdom, should benefit from government spending – did not dominate.

The result ? In the long term, the stimulus measures of 2009 helped the economy, according to a report by the Congressional Budget Office. It added to real GDP and led to a reduction in unemployment. These are things that tend to help the stock market, so if it happens again with the new stimulus, the long term impacts could be positive overall, but the winners and losers in the sector might not be what you expect. .

Integrate fiscal stimulus into your long-term portfolio strategy

This time around, the stimulus may have driven up asset and house prices. Stock markets have seen risky assets soar, bitcoin cross the threshold, and retail trader participation rise. But this is the short term reaction and does not necessarily lend itself to a portfolio strategy, which requires a longer term view.

In the long run, all sectors fall for and against. Sometimes the market promotes growth, while other times it promotes value and stability. And depending on where you are in your investment journey, your goals and risk tolerance may or may not support the pursuit of sectors with the perceived “hot hand”.

And, as Denerstein explained, the market anticipates policy changes in advance, so by the time a stimulus bill is passed, its impact may already be factored into the markets. “At this point, if you are trying to research performance within an industry that you expect to receive stimulus for, you can prepare for a ‘sell the news’ event if the expectations don’t match. reality, ”he noted.

So, before you jump into stocks, sectors, and asset classes, take a step back and assess how fiscal stimulus can influence how you build your portfolio. The answer may mean considering not only your perspectives on different market segments, but also how they match your goals, risk tolerance, and time horizon.

Case in point: In the aftermath of the 2009 crisis, clean energy was one of the top political priorities (and stimulus goals) of then President Obama and Congressional leaders. Many investors have jumped on the water as the chart of the Nasdaq Clean Edge Green Energy Index (CEXX) in Figure 1 shows.

FIGURE 1: SLOW ROAD TO CLEAN ENERGY. After a relaunch in 2008-09, the Nasdaq Clean Edge Green Energy Index (CEXX, candlestick) retreated and chopped for a decade before exploding higher. Meanwhile, the energy sector (IXE, purple line) has experienced long periods of outperformance and underperformance. Data sources: Nasdaq, S&P Dow Jones indices. Graphic source: The thinkorswim® platform. For illustrative purposes only. Past performance is no guarantee of future results.

Note that after an initial explosion in 2008-09, CEXX retreated, then soared for more than a decade before rebounding on the rise in 2020. Meanwhile, the energy sector as a whole ( IXE) has experienced periods of outperformance and underperformance. However, the sector is dominated by large oil companies with a long history of dividends, while the clean energy industry contains many start-ups and growing companies that generally do not pay dividends.

A growth-oriented investor with a long-term horizon might be okay with the patience required to hold such positions. But what about a retiree who seeks income through dividends?

Conclusion on the stimulation and portfolio strategy

The rising tide of stimulus has the potential to lift all boats. But in reality, the stimulus may lift some more than others. Some boats do not lift at all. And some get a first boost but fall victim to a tide that can change quickly.

If you are looking to move your portfolio sails in the hopes of catching a stimulating tailwind, make sure you know the direction you are heading and that the wind speed is in sync with the time you plan to spend on it. the water.

Have a good trip!

Dan Rosenberg is not a representative of TD Ameritrade, Inc. The materials, views and opinions expressed in this article are solely those of the author and may not reflect those owned by TD Ameritrade, Inc.

Doug Ashburn is not a representative of TD Ameritrade, Inc. The materials, views and opinions expressed in this article are solely those of the author and may not reflect those owned by TD Ameritrade, Inc.


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Smucker’s Tales of Pet Portfolio Strategy at CAGNY 2021

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ORRVILLE, OHIO – The JM Smucker Company highlighted the accomplishments and strategies of its pet care portfolio at the 2021 Consumer Analyst Group of New York (CAGNY) conference. Pet care has grown to be the company’s largest product segment.

In the company’s 2020 fiscal year, net sales of its pet food and snack products totaled $ 2.6 billion between its commodity, consumer and premium brands.

Mark Smucker, President and CEO, shared a “three-pronged approach” to the company’s pet portfolio, which includes momentum in the pet treats category, food brands for cats and premium dog food. All three categories will be supported by increased marketing investments, he said.

“Our snack portfolio has generated net year-over-year sales growth in 13 of the past 14 quarters,” said Smucker. “To further accelerate the pace of growth, we are accelerating innovation and taking measures to capitalize on the trend towards premiumization. “

Innovations in this category include the addition of premium products to the Milk-Bone brand and the expansion of premium treat products for Rachael Ray Nutrish.

In the cat food category, Smucker reflected on 14 consecutive quarters of year-over-year sales growth, led by Meow Mix, “which has the highest household penetration and volume share in the industry. category, ”he said.

“We are confident to build on this momentum with a pipeline of unique innovations, leveraging digital tools, advanced marketing and promotional programs, and an improved on-shelf assortment,” added Smucker.

The company hopes to strengthen its dog food category by adjusting its portfolio to better match consumer demands, which include more grain ingredients and wet dog food options. The company’s wet dog food sales have grown at a rate greater than 20% across all retail channels for the past two consecutive quarters, outpacing the growth rate of its overall category of dog food.

The company recently completed the sale of Natural Balance, a premium brand of dry and wet dog food that has lagged sales for several consecutive quarters, to Nexus Capital Management for approximately $ 50 million.

The brand generated net sales of $ 220 million for Smucker’s fiscal year ended April 30, 2020. The company chose to divest the brand in order to focus on its most profitable core brands, including Rachael Ray Nutrish, Milk-Bone and Meow Mix.

“The divestiture reflects our strategy to direct investments and resources to the areas of the business that will generate the greatest growth and profitability,” Smucker said of the sale of Natural Balance.

Learn more about corporate strategy, financial performance, mergers and acquisitions on our Companies page.


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LendingKart’s Sudeep Bhatia on Using Technology for Financial Strategy

Sudeep Bhatia took on the challenge of being the CFO of Lendingkart at a time when the company had focused on profitability and building strong lending partnerships.

As part of Inc42’s CFOs In Tech series, which is powered by HSBC, we spoke with Bhatia from Lendingkart about how tech startups can maximize their growth through financial planning.

Bhatia believes startups are often hesitant to make decisions and deal with investors without the vision and experience of a CFO to manage compliance risks.

Like personal loans, SME loans have also gone digital. In a world where contactless services are becoming the norm, platforms such as NeoGrowth, Capital Float, Indifi, AyeFinance, Lendingkart and others are using technology and automation to help small businesses grow and grow. a time when banks and traditional lenders have tightened their lending criteria.

When lending to a business, the lender must assess the fundamentals of the business that require accurate and up-to-date information. Some MSMEs may not even have formal registers. There are problems if someone lends to a micro-entrepreneur in a remote area. The lender has to evaluate all of their transactions for a period of time to understand the health of their business. These are issues that B2B lending startups are solving, and meanwhile, some like Lendingkart are carving out profitability as well.

Ahmedabad-based Lendingkart doubled its turnover in the fiscal year 20 to 464 Cr INR, registering a growth of 113%, and reported a profit of 29.6 Cr INR after tax.

Since the arrival of a new CFO in 2019, Lendingkart is on track for an IPO in India. Lendingkart CFO Sudeep Bhatia, an industry veteran with over 20 years of experience, believes early innovation in fintech is the key to success.

“Fintech companies can grow multi-x in the early years. After that, a business’s growth is likely to cross the scale for a while in the second phase (just like a non-tech business) and then pick up again based on inherent technological strengths and capabilities. However, it is important for a technology-based business to create multiple points of contact with customers and customers. Once in the second phase, the natural progression is to get listed and go public with your business.

According to him, an IPO is an important step for any business and factors such as profitable growth, the ability to predict the growth path and corporate governance play an important role.

The culmination of technology and financial strategy

Fundraising is an important part of any startup’s growth journey, and CFOs are instrumental in navigating the world of investing, advising, and compliance. Indeed, the responsibilities of a CFO even extend to the use and exploitation of the raised capital to enter the next phase of growth.

“As long as you come up with strategic solutions to achieve your goals and thrive in the midst of the challenges of a growing ecosystem, you will have no problem meeting investor expectations.”

In 2019, Lendingkart aimed to raise 3,000 Cr INR in one year thanks to its banking partners and private investors. When Bhatia joined the business, he noticed that other businesses of the same size were only raising a fraction of that amount and it became difficult to grow with so much funding. The company would have to achieve five times the growth of its competitors to justify the dilution of capital.

“You can’t tackle these kinds of challenges around capital without benefiting from the in-depth industry experience gained over the years,” he said, adding that startups often falter here without the experienced leadership that drives the industry. finance.

He believes that a strong financial background is only the first step, but to protect the overall health of the business, a CFO must think not only financially, but also like a technology product manager.

“When I joined Lendingkart, I saw the opportunity to raise funds directly from large institutions under risk-shared partnership models. Needless to say, banks have large balance sheets, but there are gaps in reaching retail customers. Our sales force is to search thousands of applications every month through a digital platform, ”he added.

So, Bhatia’s first challenge as CFO of Lendingkart was to create a bridge for banks to use the reach of the lending technology platform and, in turn, help the startup grow its portfolio. of loans. His solution was to create a co-loan platform. Bhatia helped plan, execute, and even hire people to put together a 15-member team for the project. In hindsight, this idea turned out to be a major breakthrough for the company.

Lendingkart is proud to say that today they have created one of the best co-lending platforms with the potential to become the largest co-lender in the country. He added: “We are set to hit the INR 300-350 Cr monthly execution rate shortly, and 35% of our business currently comes from partnerships with these large institutions and banks.”

Compliance risks in lending technology

“When we talk about the lending industry, it’s very easy to switch if you’re running faster than you could. “

For Bhatia, numbers alone cannot determine the growth of a business. In fact, growth at the cost of capital may be the start of a journey south. It is imperative to align short-term success with the long-term vision and act on it. “If you grow the business focusing only on short-term goals without having a long-term view, then I think that can backfire,” he added.

And as Bhatia pointed out, even a small change in RBI guidelines can disrupt the entire lending industry. So it’s about having skills to manage compliance, financial strategy as well as technology. This is where a CFO becomes responsible for creating a balanced plan.

Sharing his insights, Bhatia said, “To create a plan for a lending business, you have to consider factors like the size of the market, where you are looking for your clients, the credibility of the clientele and whether you have the right resources to grow sustainably, while managing compliance and corporate governance.

He also believes these are crucial times for a CFO and that he needs to look at broader metrics to achieve desired overall goals. It becomes its responsibility to assess the risks and advise the stakeholders to take the right measures further.

Choose the right partners

Navigating sticky situations can often mean just finding the right partner to help break through. Businesses large and small use a number of services, platforms and partners to facilitate their work as they grow. Bhatia believes that while there are a number of tools available to support finance compliance, marketing and more, it is important to think, decide and choose the right banking partner.

He explained that the entire financial services ecosystem is interconnected where customers and banks are on the same axis. Growth is directly proportional and therefore the right banking partner will contribute to the success of the business in one way or another.

Where traditionally loans and funds are basic needs, banks are no longer limited to transactional partners. A startup today needs platforms to invest, technology partners, credit cards, 4D payment SDKs and more. A banking partner must therefore act effectively on all fronts, prioritizing the needs of customers. “Our banking partners help us serve our customers on multiple fronts, including making it easier to do business through current accounts, overdraft facilities, credit cards and insurance products that meet their holistic banking needs and meet their needs. sales representatives at different stages. “

Find the right financial strategy

Of course, no one solution fits all businesses. Bhatia stressed that startups need to identify the problem and then solve it with first principles in mind. How to directly access the solution in the fastest way. It could mean letting go of the transactional mindset while working with a startup. Instead of focusing on risk, they should pay attention to the vision and focus on strategizing to grow the business on multiple levels.

“At the end of the day, it’s about what works best for the organization and the integrity of the mission you stand for. As long as you continually work to accomplish this mission, all other issues become secondary. “


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ImageWare® Appoints Vice President, Marketing and Portfolio Strategy

SAN DIEGO, January 21, 2021 / PRNewswire / – ImageWare® Systems, Inc. (OTCQB: IWSY), a leader in biometric identification and authentication, is pleased to announce the appointment of AJ Naddell to the newly created role of Vice President, Go-To-Market and portfolio strategy. January 18, 2021.

Naddell collaboratively and strategically develops powerful and revenue-generating go-to-market programs. His specialty lies at the convergence of product management, marketing, product design, sales and customer success. He will work closely with the market to help ensure ImageWare’s delivery of existing critical offerings, as well as to meet future customer needs.

Naddell joined IBM in 2017, where his most recent role was Director of the AI ​​Product-Application Management Program. In this role, he led transformation and modernization efforts within a 30-year-old product portfolio, infusing AI (artificial intelligence) and IoT (Internet of Things) into existing solutions for help optimize customer operations.

He was responsible for launching several complex AI solutions. One of them was completed within 90 days of ideation, conception, development, and then closing of the first deal within 15 days of launch. A year after its launch, this product has double-digit customers and has generated significant revenue.

Prior to IBM, Naddell led electric truck sales and business development in North America for BYD, a China-based leader in the field of electric vehicle. He has run considerable business for BYD’s new heavy-duty electric trucks with clients such as Pepsi Frito-Lays, Port of Los Angeles & Long Beach, California., Port new York/New Jersey, and others.

Naddell graduated from Washington University in Saint Louis with a Bachelor of Science in Business Administration. Prior to focusing on business, Naddell studied biomedical engineering and systems engineering with a specialization in pre-medicine, while conducting research in oncology and stem cell biology at the Washington University Faculty of Medicine Saint Louis.

Kristin A. Taylor, President, President and CEO of ImageWare, said, “We are delighted to welcome AJ to the ImageWare team. I know from my years of experience with him what a talented, focused and motivated AJ is. He will work closely with Engineering, Product Management and Sales.

“AJ and his team have already started to develop key messages and sales materials for our successful launch of corporate products to market on February 1, 2021. He will then focus on law enforcement / public safety, and towards the end of the year he will turn to our biometric smart badge technology. “

Naddell said, “I am really excited about the value and market potential of ImageWare’s biometric authentication and identification technology. Cyber ​​security is an extremely important booming industry – and the opportunity to join the company’s talented management team and help the company succeed in the marketplace is the next big challenge that I look forward to taking on. . “

About ImageWare® Systems, Inc.
Founded in 1987, ImageWare provides defense-grade biometric identification and authentication for access to your data, products, services or facilities. We are experts in biometric authentication and considered one of the leading holders of multimodal intellectual property patents, owning many of the most cited patents in the industry. Our patent IWS® biometric engine (BE) is the industry’s most accurate and fastest biometric matching engine, capable of our patented fusion of multiple biometrics. Part of our heritage is in law enforcement building the first statewide digital reservation platform for United States local law enforcement – and over three decades of difficult government sector experience creating biometric smart cards and logical access for millions of people. We are a “biometrics premier” company, leveraging unique human characteristics to provide unmatched precision for identification while protecting your identity. Please visit www.iwsinc.com.

Forward-looking statements
All statements contained herein that are not historical facts are forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “ expect “,” predict, “” intend “,” may “,” plan “,” plan “,” predict “,” if “,” should “and” will “and similar expressions in relationship with ImageWare Systems, Inc. are intended to identify such forward-looking statements. ImageWare may from time to time update publicly announced projections, but it is not obligated to do so. Any projection of future operating results should not in no way be construed as a guarantee that such results will actually occur. These projections are subject to change and could differ materially from the final published results. For a discussion of these risks and uncertainties, see “Risk factors” in ImageWare’s annual report on Form 10-K for the fiscal year ended December 31, 2019 and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

Media contact:

Investor Relations:

Jessica belair

Terri MacInnis, Vice President of IR

ImageWare Systems, Inc.

Bibicoff + MacInnis, Inc.

(310) 717-0877

(818) 379-8500 x2

[email protected]

[email protected]

SOURCE ImageWare Systems, Inc.

Related links

http://www.iwsinc.com


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Rob Kyprianou: My “barbell” portfolio strategy for 2021

As an investment professional for 40 years, I was asked in March of last year for my investment recommendations at the height of the pandemic-induced pause in the markets.

I have described it as a Black Swan event – an unprecedented incident that defies traditional analysis.

With that in mind, I referred to my buying instinct in panicked markets: my favorite asset class was stocks; that funds were better than stock selection because the specific risk was too high; my favorite vehicles initially were the American Baillie Gifford fund (the best performing fund in 2020) and the Slater Recovery fund.

I also highlighted the gold and sustainable investing themes to consider and later had an eye on emerging markets and financials.

With the vaccine rollout and (hopefully) some sort of normalcy in sight, I have now updated my views for the coming year.

First of all, my asset allocation. I started with 70% cash and 30% stocks at the start of the pandemic market crisis. Today I’m upside down, but still no bond allocation.

In my entire career in asset management, I haven’t seen a time when fixed income securities offered so little value to private investors. Fixed income yields on the whole have been pushed to artificially low levels by an insensitive buyer with unlimited resources in the form of central banks.

Within equities, I strengthened our positions in the United States, the United Kingdom and emerging markets. When looking for specific fund vehicles, the criteria I use are straightforward and confirmed by 40 years as a fund manager, investment manager and general manager of the industry.

Consistent long-term excess performance over one, three and five years thanks to a stable investment team with a clear, understandable and disciplined investment process. Despite the growing shift to liabilities in recent years due to the low value for money of the “average” fund manager, such nuggets of active management do exist.

As for my favorite supplier, it’s hard to look much further than Baillie Gifford. The company is on fire in key areas, combining a successful partnership structure with an investment philosophy focused on very long-term growth.

In the United States, I completed the American fund Baillie Gifford, a star in this sector for several years. In one year the fund has more than doubled in value, in three years it has tripled and in five years it has increased by over 400%.

The other equity funds in my portfolio

I also added to its UK Equity Alpha fund – a solid performance in what has been a lackluster market for several years. I also own the very popular Scottish Mortgage Investment Trust managed by Baillie Gifford, despite the low premium to the net asset value at which its shares regularly trade. This confidence translates Baillie Gifford’s fundamental investment philosophy to global and less liquid markets.

Away from Baillie Gifford, I recently added to my UK exposure as the drama of the Brexit negotiations neared its conclusion. In addition to my main funds – the Slater Recovery and Lindsell Train UK Equity funds, both outperforming over the long term – I like the small and mid cap sectors in order to have a more focused UK recovery strategy.

My favorite vehicle here is the ASI UK Smaller Companies fund, managed by the very experienced Harry Nimmo, rated Citywire AA. As retirement approaches, the BlackRock Throgmorton Trust is my radar screen as an alternative.

Elsewhere, I have always maintained a core position in emerging market equities. I also added to this during the market liquidation in 2020. This is an area that you need to be prepared to hold on to for the long term as the stories are largely structural and fundamental and not cyclical.

Asia has been my main focus as I love the combination of a large and growing population, the rapid transitions from agricultural economies to industrial and post-industrial economies, widespread entrepreneurial ambition and the emphasis on education for personal development.

There are a number of good suppliers in this industry. My mainstay, through thick and thin, has been the Fidelity Asia fund. I feel like I grew up with this fund that I have held for so long.

But to diversify my holdings in this region, I also own the FSSA Asia Focus fund where Martin Lau, rated AA, has been managing various strategies in Asia for almost two decades. I also own the Stewart Asia Pacific Leaders Sustainability fund managed by another well-respected team that has a slightly wider exposure to countries and more of a mid-cap flavor with good sustainability credentials.

However, I am looking to replace it with another fund from the Baillie Gifford stable, the Pacific fund managed by Ewan Markson-Brown, rated AAA, now that he has set an excellent record of five years and more with Baillie Gifford.

Finally, for a bit of spice, I carried a little weight for a while in the Stewart Indian Sub-Continent Sustainability fund. Crazier run than other Asian funds I have owned, but gives targeted exposure to a region that is becoming a center of excellence in important long-term growth areas such as IT and IT services, health services and medical equipment.

I have been managing and owning for many years a global emerging markets fund – JPMorgan Emerging Markets Equity. Again, it is led by a stable team with a strong long-term performance history having outperformed global emerging market indices by around 50% over the past five years.

How do I position myself for 2021?

My portfolio choices so far have a strong growth and technology bias, a clear “Covid winner” in 2020. At the start of 2021, one of the big debates concerns the possibility of any rotation from growth to value, ‘Covid winners’ to’ ‘Covid losers’. The extremes seen in the markets in 2020 have certainly created very tight relative and absolute valuations.

My response is to ‘strike out’ the winners and losers of 2020 by adding exposure to my favorite value / spin game – finance.

Until 2020, I held the Jupiter Financial Opportunities fund. This fund has adopted a fintech style in recent years and therefore performed well last year.

To gain exposure to more traditional financials and banks, I strengthened my position in the Polar Capital Global Financials trust, of which I chair the board of directors. This trust traded for most of the past year at a significant discount to net asset value. However, in the last weeks of the year, renewed interest in the sector quickly eradicated the haircut. Despite this, in my opinion, this sector remains largely undervalued and underweight in portfolios.

With my remaining cash, my bias is to seek out other equity opportunities as they arise. Finally, keep an eye out for cryptocurrencies. I haven’t been a fan as they remain unregulated and open to speculation, massive volatility and worse. However, the currency’s weakening through the central bank’s quantitative easing not only benefited gold, but also raised the prospect of crypto as an alternative store of value.

There is also evidence that they may belong to the regulated industry and that banks are looking for ways to support the interests of their clients. A subject for another day …

Rob Kyprianou’s 32-year career in finance included stints at Citibank, Salomon Brothers and AXA Investment Managers where he was Global Head of Fixed Income. He has also served on the Bank of England Fixed Income Committee. He chairs Polar Capital Global Financials Trust (PCFT). He writes in a personal capacity.

The opinions expressed by Citywire or its staff do not constitute a personal recommendation to buy, sell, guarantee or subscribe for any particular investment and should not be taken into account in making (or refraining from making) decisions. investment. In particular, the information and opinions provided by Citywire do not take into account your personal situation, your objectives and your attitude towards risk.


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“Investor alpha” is the most important financial strategy for 2021

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It was the year of unpredictability.

The pandemic, including self-quarantine for months, is a priority for people around the world. The many other surprises this year include the fastest bear market in history, civil unrest, a fairly unique U.S. presidential election, the rapid creation of a coronavirus vaccine, and the market hitting all-time highs despite the big shots. scary titles.

No one could have predicted how this year would unfold.

With so much uncertainty, the only strategy that will be particularly relevant to investors in 2021 is “investor alpha”. Basically, factor-driven alpha investing strategies are designed to manage risk within a portfolio while providing market-leading returns.

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Many people know the alpha of the manager, or the additional return that an effective portfolio manager can provide above the index. However, with choppy markets and a continuous stream of bad news, it would be wise for investors to focus on the alpha that they can personally generate by paying attention to the four concepts below.

1. Tax efficiency: A tax-efficient portfolio allows investors to keep more of their money. This can be accomplished by using an appropriate “asset location”, a process of placing investments in different types of accounts based on their tax efficiency.

For example, tax inefficient investments, such as real estate investment trusts and funds with high portfolio turnover or that generate a high level of income, may be better suited for tax-deferred retirement accounts. Conversely, tax-advantaged investment strategies like exchange-traded funds that passively track an index and generate a modest level of income may be better suited in a taxable account.

Another way for investors to minimize their tax liability is to maximize their contributions to tax-efficient accounts. This includes 401 (k) plans, individual retirement accounts, Roth IRAs, or a tax-free triple health savings account. If one has kids in college, it may also include a 529 College Savings Account, which offers tax-free federal growth and tax-free withdrawals for qualifying expenses, as well as the ability to ‘a tax credit or deduction for contributions to its state-plan. Paying close attention to taxes, in addition to investments, can dramatically increase one’s wealth over time.

2. Savings rate: Over the past decade, the S&P 500 Index has delivered an attractive annualized return of 13%, several points above the long-term historical average of 10%. While all investors look for strong and continued performance, it is prudent to anticipate the possibility of lower future growth.

The market moves in cycles and can experience years of relative underperformance. For example, the S&P 500 averaged -3% per year over the decade ending February 2009.

One step that investors can take in planning for a low-yielding environment is to increase their savings rate. It is much more exciting to pick a winning stock or watch the market reach historic highs. However, simply setting aside more money is a more reliable way to reach your financial goals.

3. Automation: One of the hardest things about investing is controlling your emotions. When the market collapses, many investors want to sell everything and switch to cash. On the flip side, as the market soars, many feel the need to chase high-profile stocks and take a reckless level of risk.

Instituting a level of automation in your investment process is a good way to control emotions and keep your investment strategy on track. Investors can effortlessly execute this strategy through their employer’s 401 (k) plan, where the money is automatically deducted from every paycheque and invested in the market. Investors can also subscribe to an “automatic indexation” of contributions to ensure that they effortlessly contribute more money each year. The same automations can be set up in a brokerage account by working with your financial advisor.

Another automation is the rebalancing process, which readjusts a portfolio’s weightings as an investment rises or falls over time. When a portfolio is rebalanced, the investor buys or sells assets in order to maintain their original asset allocation. They also sell high and buy low, which is a way to lock in gains and reinvest the proceeds in investments that have underperformed. Rebalancing can be configured to occur at predetermined times throughout the year or once an investment reaches a certain percentage threshold relative to the rest of the portfolio.

4. Wallet costs: Two of the major recent advances in the investment world have been the democratization of investment solutions and the substantial reduction in fees throughout the industry. Today, US-based investors can gain exposure to almost any market in the world for a small fee. This exposure can be achieved in a number of ways, including easily accessible exchange traded funds or low cost mutual funds.

An interesting exercise for any investor is to comb through their existing holdings to see if they can swap expensive legacy positions for new low-cost investments. While fees are certainly not the only consideration, or even the most important factor, when it comes to accumulating wealth, paying significantly more than the industry average can reduce your returns over the course of your life. investor.

As the end of the year approaches, people can only guess what 2021 has in store for society and the markets. If we’ve learned anything from the last year, it’s that none of us have this crystal ball that can help us predict the future. However, investors can take comfort in the fact that focusing on things they can control may be enough to achieve their financial goals.


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What is diversification? A portfolio strategy that uses a variety of investments to limit risk

  • Diversification is an investment strategy that consists of holding a combination of investments within and between asset classes.
  • The main objective of diversification is to reduce a walletexposure to risk and volatility.
  • Because it aims to smooth out fluctuations in investments, diversification minimizes losses but also limits gains.

If you know the proverb Don’t put all your eggs in one basket, ”you have a basic understanding of investing diversification.

Diversification consists of dividing your money into several investments and several kinds of investments. The idea is that your portfolio will be protected if a particular asset, or a group of assets, loses money.

For example, if you put all of your money in one stock, your entire investment could be wiped out if that company goes bankrupt. Or (less dire scenario) not growing much if that business or its industry is having a hard time. However, by investing in 20 stocks, you are spreading your risk. Even if five stocks go down, you can still make money overall if the other 15 go up.

Diversification cannot completely eliminate risk – when it comes to investing, almost nothing is 100% sure. But it can significantly reduce your exposure to risk. Different investments are subject to different influences and different degrees of volatility (price changes). In a well-diversified portfolio, they balance each other out, keeping your finances and their growth on a level playing field.

What is diversification?

When financial experts talk about diversification, they can refer to a variety of strategies. You can diversify by keeping in mind:

  • Level of risk (low to high)
  • Investment needs (income, appreciation, aggressive growth)
  • Liquidity (from pure cash to less tradable assets)
  • Time horizon (from immediate return to long term)

Of course, these diversification goals may overlap: Aggressive growth stocks are the ones you would like to hold for the long term; highly liquid investments tend to be low risk. Regardless of the strategy, they all have the same goal: to protect a portfolio from the shocks and bruises of volatile movements, especially downward ones.

And they’re executed basically the same way: by the types of assets you invest in.

Diversification between asset classes

One of the essential characteristics of diversification is called asset allocation, which simply means investing in different types of financial instruments i.e. assets. When it comes to investing, assets fall into two broad categories:

  • Traditional (what we generally think of as investments – pure money vehicles, like stocks, bonds, and cash)
  • Alternative (often more tangible things, like goods, or exotic instruments, like derivatives)

Within these two broad areas are several sub-categories or asset classes. Here are the main ones for individual investors:

To be considered or well diversified, a portfolio – or at least all of your financial holdings – must contain assets from at least three of these classes. For example, real estate could be represented by the house you own.

Diversification within asset classes

In addition to diversifying between asset classes, it is important to consider diversification in asset classes. This is especially true with something like stocks, which is arguably the largest and most diverse of asset classes.

You can analyze stocks in different ways. One of the most common, when it comes to diversifying, is to look at them by sector, that is, the industry to which they belong.

Investing only in shares of Facebook, Google, Apple and Microsoft, for example, would be far from ideal since all of these companies are part of the tech sector, and therefore are affected by the same factors, have the same strengths and weaknesses. . Investing in stocks from other sectors such as energy, industrials or financials might help you build a more complete portfolio, as they would have different characteristics and might react differently under different economic conditions.

The importance of a diversified portfolio

Diversification provides security by cushioning shocks that can affect particular assets. But what’s particularly interesting is that it can help investors limit their risk without drastically lowering long-term returns. In a study of average portfolio returns and volatility from 1926 to 2015, Fidelity Investments compared the performance of diversified portfolios in several different ways, including “aggressive” (mostly invested in equities, for strong growth) and “balanced” (split more evenly between bonds for income and stocks for appreciation).

Fidelity found that the spread between best and worst 12-month returns was 79.64 percentage points higher for “aggressive” portfolios than for “balanced” portfolios. Yet despite significantly higher volatility, aggressive portfolios only outperformed average annual returns by 1.69%. So, for a compromise of 1.69% lower yields, you could have enjoyed a smoother ride with much less sharp dips along the way.

It is important to stress, however, that even the most thoughtful diversification strategies cannot completely eliminate losses, especially in the short term. In the Fidelity study, even the most conservative portfolios suffered a 17.67% loss in their worst 12-month periods.

Disadvantages of diversification

Diversification is, in many ways, a given. But of course there are always downsides. Here are two to remember:

  1. Diversification, by design, limits your returns to “average”. You bet on many companies / types of investments with the aim of having more winners than losers. But the clunkers will bring down the stars. So while diversified portfolios are expected to experience fewer massive declines than aggressive (less diversified) portfolios, they are also less likely to experience extreme highs.
  2. Diversification can be expensive and time consuming. Finding dozens or hundreds of stocks and bonds can take a lot of effort. Additionally, purchasing a variety of different investments can be costly, especially for the individual investor.

The second reason is why mutual funds, index funds and exchange traded funds (ETFs) have become the gold standard for individual investors. Buying into these baskets of securities helps you achieve instant diversification, not only within asset classes, but between them.

And investors can even choose to diversify their holdings into funds with different levels of risk.

For example, below are three popular types of mutual funds:

  • Growth funds: Invest in companies that are expected to earn faster than average earnings and tend to be the most volatile.
  • Income Fund: Invest primarily in dividend-paying stocks and focus on long-term income rather than short-term capital appreciation.
  • Balanced funds: Provide the greatest diversification by investing in stocks, bonds and cash equivalents, both for capital appreciation and income.

The financial report

Diversification is a simple concept, although there are many ways to achieve it. And it is something fluid. Diversifying your portfolio is not a ‘set it and forget it’ activity. As your goals change or as you get older, chances are you will need to change your asset allocation.

Here are three more tips for diversifying your portfolio:

  • Keep an eye on your investment costs: Fund costs, trading commissions and advisory fees can reduce your overall returns. Try to avoid expensive fund transaction fees and charges (commissions) and be sure to compare fund expense ratios.
  • Consider a target date or asset allocation funds: Mutual funds or asset allocation ETFs invest in a predefined combination of stocks and bonds (i.e. 80/20, 70/30 or 60/40) at all times and automatically rebalance. And target date funds go one step further by constantly adjusting to a more conservative mix as you approach retirement.
  • Reassess regularly: As some assets in your portfolio are outperforming (or underperforming), your portfolio weightings may deviate from your target allocation. By rebalancing your portfolio once or twice a year, you ensure that your asset allocation is always in line with your risk tolerance.

Keep in mind that “the main goal of diversification is not to maximize returns. Its main objective is to limit the impact of volatility on a portfolio, ”as the Fidelity study notes. In other words, diversification is a defensive move. But it’s the one every investor should do, at least to some extent.

Related investment coverage:

ETFs and mutual funds can instantly diversify your portfolio, but they differ in the way they are traded, managed and taxed. Here’s what you need to know.

How to invest in mutual funds and make your money grow for retirement, a trip on the to-do list, or any other long-term goal

Investing for Income: 7 Money Generating Assets for Your Portfolio and How to Get Started

What is an index fund? An inexpensive and low-risk way to invest in the stock market

Passive investing is a long-term wealth building strategy that every investor should know – here’s how it works


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concludes agreement to sell performance materials and initiates process to review strategic alternatives for performance chemicals

PQ Group Holdings Inc. (NYSE: PQG), a leading global integrated and innovative supplier of catalysts, materials, chemicals and specialty services, today announced that it has entered into a definitive agreement to sell its Performance Materials business for a purchase price of $ 650 million. to a subsidiary of The Jordan Company, LP (“TJC”), a US private equity firm (www.thejordancompany.com) founded in 1982.

“The planned sale of Performance Materials at an attractive valuation marks an important milestone on our ‘Simpler and Stronger’ strategic path, as we aim for a portfolio reflecting both higher revenue growth and higher margins.” , said Belgacem Chariag, president and chairman of PQ. and CEO.

“Our ultimate goal for the Simpler and Stronger plan is to focus PQ on its high-growth, high-margin refining catalyst and services business. This focused portfolio is well positioned to use its technology and service offerings to help clients drive sustainability more effectively. producing the lightweight polymers and clean fuels that are expected to be in high demand in the future. As a result, we are also launching a review of strategic alternatives for Performance Chemicals – a healthy company with customers and attributes that are distinct from our catalysts and refining services segments. “

Chariag added: “Finally, given our strong cash generation and expected revenues, we are expanding our capital allocation policy beyond reinvestment and debt reduction to now include special dividends. “

The company plans to use the after-tax cash proceeds from the sale of its Performance Materials business, along with a portion of existing cash balances, to reduce debt by approximately $ 460 million while allocating up to $ 250 million. million dollars, or $ 1.84 per share, to a proposed special dividend to shareholders that is subject to board approval and declaration.

The sale of Performance Materials is expected to close by the end of 2020, subject to regulatory approvals and customary closing conditions.

Goldman Sachs & Co., LLC and Harris Williams LLC are acting as financial advisers and Ropes & Gray LLP as legal counsel to PQ. Kirkland & Ellis LLP is legal counsel to TJC.

PQ management will host a conference call and audio-only webcast on Friday, October 16, 2020 at 8:30 a.m. ET to discuss the transaction. Investors can listen to the conference call live by telephone by dialing 1 (877) 883-0383 (national) or 1 (412) 902-6506 (international) and using the participant code 8073226. Live audio webcast of the conference call and presentation documents can be viewed at http://investor.pqcorp.com. A replay of the conference call / webcast will be available at http://investor.pqcorp.com/events-presentations.

Investor contact:
Nahla A. Azmy
(610) 651-4561
Nahla.Azmy@pqcorp.com

About PQ Group Holdings Inc.

PQ Group Holdings Inc. and its subsidiaries is one of the world’s leading integrated and innovative providers of catalysts, materials, chemicals and specialty services. We support our customers around the world through our network of strategically located manufacturing facilities. We believe that our predominantly inorganic products and services help improve environmental sustainability. We have four specialized companies particularly well positioned: Refining services supplies sulfuric acid recycling to the North American refining industry; Catalysts serves the packaging and engineering plastics and the global refining, petrochemical and emissions control industries; High-performance materials produces reflective safety markings for transportation on roads and airports; and Performance chemicals provides a variety of product end uses, including personal and industrial cleaning products, fuel efficient tires, surface coatings, and food and beverage products.

We serve more than 4,000 customers worldwide for many end uses and operate more than 70 manufacturing plants strategically located on six continents. For more information, see our website at https://www.pqcorp.com.

Note on forward-looking statements

Some of the information contained in this press release constitutes “forward-looking statements”. Forward-looking statements may be identified by words such as “anticipates”, “intends”, “plans”, “seeks”, “believes”, “believes”, “expects”, “plans” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions about our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Examples of forward-looking statements include, but are not limited to, statements regarding the sale of the Performance Materials business line and consideration of strategic alternatives for the Performance Chemicals business line, including the intended use of the product. of it. Our actual results may differ materially from those contemplated by forward-looking statements. We therefore caution you against relying on any of these forward-looking statements. They do not constitute statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, our ability to complete the sale of the Performance Materials business line on time, or not at all, our ability to identify a strategic alternative for the Performance Chemicals business segment, regional, national or global political, economic, business, competitive, market and regulatory conditions, including the ongoing COVID-19 pandemic, disputes tariffs and trade, exchange rates and other factors, including those described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filed documents with the SEC, which are available on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date of this press release. Factors or events that could cause actual results to vary may occur from time to time, and we cannot predict all of them. We assume no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/201015006039/en/

Contacts

Investor contact:
Nahla A. Azmy
(610) 651-4561
Nahla.Azmy@pqcorp.com


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