From the Sector

• JEC Group pays tribute to the winners at JEC World 2018

The 2018 session of JEC World, the reference trade show organized by JEC Group, is in full swing and the focus is on innovation!
The JEC Innovation Awards ceremony, which took place on the Agora stage on Wednesday, March 7 at 5 pm, opened with a presentation by Yves Rossy, aircraft pilot and inventor of the first jet-powered wingpack. Then the jury revealed the names of the composite champions up for a JEC Innovation Award. Eleven winning innovations were chosen, out of the thirty finalists that had been previously selected from more than 100 applications from all over the world.

“JEC Group supports innovation. In 1998, it created the first award dedicated to composites, as a way to promote and reward the sector’s champions. Thanks to the work of JEC Group’s teams, the program has become an international benchmark. Each year, we receive more than a hundred applications from all over the world. Selection is now based on criteria like the level of involvement of the innovation’s partners in the value chain, the technical nature of the innovation, or its commercial applications,” explains JEC Group President & CEO Frédérique Mutel.
A new feature this year is that the jury revealed the winners during the ceremony, and the public could choose their favorite innovation before, during, and after the ceremony. So there is still time to vote! Votes are opened until Thursday March 8th, 5pm http://innovationawards.jec-world.events
Did you miss the ceremony?

11 AWARD WINNERS:
AEROSPACE APPLICATION
Winner:
AeroComposit, JSC (Russia) and its partner Solvay (United Kingdom)

• Infusion technology for an aircraft wing

The use of infusion technology to manufacture primary structural components for an aircraft wing. The technology makes it possible to create extra-long, integrated composite structures with complex aerodynamic shapes.

AEROSPACE PROCESS 
2 tied winners!
Winner: Airbus (Germany) and its partners, BMW Group (Germany), Technical University of Munich (TUM) (Germany), Neue Materialien Bayreuth GmbH (Germany), Werkzeugbau Siegfried Hofmann GmbH (Germany), BASF SE (Germany), Foldcore GmbH (Germany), Neenah Filtration (Germany) and SGL Carbon GmbH (Germany)

• Complex structural applications for MAI sandwich technology

Cost-effective production of a complex 2.5D structure made of thermoplastic composite sandwich, with very short cycle times: under 5 minutes for aerospace materials and 2.5 minutes for automotive materials.

Winner: M. Torres Diseños Industriales SAU (Spain)
Moldless process to manufacture one-piece parts
A new manufacturing process for oversized one-piece reinforced composite structures, without requiring the use of complete molds.

AUTOMOTIVE APPLICATION
Winner: Ford Werke GmbH (Germany) and its partners, Gestamp (United Kingdom), GRM Consulting (United Kingdom) and University of Warwick (United Kingdom)

• Lightweight composite automotive suspension part

Structural suspension part made of lightweight composite, using a brand-new patented process for prepreg/SMC/steel overmolding that was designed using a new computer-aided engineering (CAE) technology.

AUTOMOTIVE PROCESS
Winner: Audi AG (Germany) and its partners, Voith Composites GmbH & Co. KG (Germany), Dow Automotive (Switzerland), and Zoltek Corp. (United States)

• Series production of a rear panel module made of carbon composite

For the first time, the potential of carbon fiber reinforced plastics (CFRP) is used to full advantage in series production with a new rear panel module and cost-effective production technologies.

CONSTRUCTION & INFRASTRUCTURE
Winner: Komatsu Seiren Co., Ltd. (Japan) and its partners, Kanazawa Institute of Technology (Japan) and Nagase ChemteX Corporation (Japan)

• Cabkoma cable made of CFRTP

Komatsu Seiren has developed a cable made of molded carbon fiber reinforced thermoplastic (CFRTP), using a very cost-effective process that consists in polymerizing a thermoplastic epoxy resin in situ.

MARINE
Winner: Uljanik JSC (Croatia)

• Composite cargo decks for a vehicle carrier

On the SIEM Cicero, a vehicle carrier with a capacity of 7,000 vehicles, glass-fiber reinforced composites are used for a number of the structures for the cargo decks, thereby considerably reducing the ship’s weight, fuel consumption and CO2 emissions.

RAILWAY
Winner: ELG Carbon Fibre Ltd. (United Kingdom) and its partners, Alstom Transport (United Kingdom), Magma Structures (United Kingdom), the University of Birmingham (United Kingdom), and the University of Huddersfield (United Kingdom)

• A bogie frame made of optimized lightweight carbon fiber

This project has developed the very first carbon-fiber bogie frame that uses a recycled material, making it possible to overcome the obstacles to a commercial adoption of this type of structure.

SPORTS & LEISURE
Winner: BMW Group (Germany) and its partners EDAG Engineering GmbH (Germany), KraussMaffei Technologies GmbH (Germany), Chr. Karl Siebenwurst GmbH & Co. KG (Germany), TUM-LCC (Germany), Automation W + R GmbH (Germany), and FHG-IGCV (Germany)

• A modular construction system for the rear swing arm suspension of a motorcycle

A modular system to produce a complex-shape swing arm suspension reinforced with carbon fiber. The system can adjust the mechanical properties on a case-by-case basis, for a competitive cost and weight compared to metal solutions.

SMART CITIES
Winner: MC Materiales Compuestos (Argentina) and its partners, Plaquimet (Argentina), Purcom (Brazil), IS Groupe - Composite Integrity (France), and G12 Innovation (Brazil)

• The Wet Core Pod composite housing module

The Wet Core Pod is a composite housing module with an industrialization potential that can facilitate the most complex, costly and difficult step in a construction project.

SUSTAINABLE DEVELOPMENT
Winner: Cetim-Cermat (France) and its partner, CETIM (France)

• “3-in-1” line for producing recycled composites

A modular line that uses an innovative thermomechanical process to make large panels from recycled composites or plastics. The panels are then thermoformed into parts.
 

Beijing - Tencent Holdings Limited (“Tencent”) (00700.HK), JD.com, Inc. (“JD.com”) (NASDAQ:JD), and Vipshop Holdings Limited (“Vipshop”) (NYSE:VIPS), today jointly announced that Tencent, a leading provider of internet value-added services in China, and JD.com, China’s largest retailer, have entered into definitive agreements with Vipshop, a leading online discount retailer for brands in China, such that Tencent and JD.com will invest an aggregate amount of approximately US$863 million in cash in Vipshop at the closing of the transaction.

 

Pursuant to the share subscription agreement, Tencent and JD.com will subscribe for newly issued Class A ordinary shares of Vipshop in the amount of approximately US$604 million and approximately US$259 million, respectively. The purchase price will be US$65.40 per Class A ordinary share, which is equivalent to US$13.08 per American Depositary Share (“ADS”) of Vipshop, five of which represent one Class A ordinary share. The purchase price represents a 55% premium over the closing price of the ADSs as of the last trading day on December 15, 2017.

The transaction is expected to close in the near future, subject to customary closing conditions.  Upon the closing, Tencent and JD.com will beneficially own, taking into account any existing holding, approximately 7% and 5.5%, respectively, of Vipshop’s total issued shares. The Class A ordinary shares issued to Tencent and JD.com will be subject to a two-year lock up restriction. Tencent and JD.com will have the right to appoint a director and an observer, respectively, to Vipshop’s board of directors during the two-year lockup period. After the end of the lock-up period, for so long as Tencent and JD.com hold approximately 12% and 8%, respectively, of Vipshop’s total issued shares, or otherwise by mutual agreement with Vipshop, they will maintain director and board observer rights.

Concurrently with the entry of the share subscription agreement, Tencent and JD.com have entered into business cooperation agreements with Vipshop, effective upon closing, establishing a cooperative relationship among Tencent, JD.com and Vipshop. Under these agreements, Tencent will grant Vipshop an entry on the interface of Weixin Wallet enabling Vipshop to utilize traffic from Tencent’s Weixin platform, and JD.com will grant Vipshop entries on both the main page of JD.com’s mobile application and the main page of its Weixin Discovery shopping entry, and will assist Vipshop in achieving certain GMV targets through JD.com’s platform.   

“I am truly delighted about Vipshop's new strategic cooperation relationships with Tencent and JD.com,” said Mr. Eric Ya Shen, Vipshop’s Co-founder, Chairman of the Board of Directors and Chief Executive Officer. “This undoubtedly is an important event for Vipshop as well as China's e-commerce and internet industries. We, together with Tencent and JD.com, will leverage our respective strengths to form a strategic cooperative alliance aiming to achieve a deep, win-win cooperation and to benefit internet users and consumers. We will develop a holistic cooperation with Tencent on the Weixin platform and expand our strategic alliance with Tencent into more and broader areas.  We will explore win-win opportunities in multiple areas with JD.com, including establishing a strategic alliance in collaboration with brand suppliers, and an on-line traffic alliance. We will continue to operate as an independent e-commerce platform and further deepen and enhance our leading e-commerce capabilities in fashion (including apparel, shoes, bags and accessories) and cosmetics categories as well as our strong female user base, thereby offering higher value and better user experience to our customers.”

“The strength of Vipshop’s flash sale and apparel businesses, as well as its outstanding management team, create clear and strong synergies with us,” said Richard Liu, Chairman and CEO of JD.com. “This partnership will further extend the strong inroads that we have made with female shoppers, and will expand the breadth and reach of our fashion business. We continue to add the top-notch partners to complement JD.com’s core strengths, ensuring that JD and our partners provide the best customer experience for every shopping need.”

Martin Lau, President of Tencent Holdings, said, “We are pleased to become strategic investor in and partner with Vipshop. We look forward to providing Vipshop with our audiences, marketing solutions, and payment support to help the company provide branded apparel and other product categories to China’s rising middle class. We already see substantial demand from our users to discover, discuss and purchase branded apparel in our applications, and we believe that connecting our users more deeply to products on Vipshop’s platform will enrich their online experiences while benefiting Vipshop. We are proud of the role our resources such as marketing technology, payments handling, and machine learning play in facilitating a healthy and diverse retail ecosystem, online and offline.” 

About JD.com, Inc.

JD.com is both the largest e-commerce company in China, and the largest Chinese retailer, by revenue. The company strives to offer consumers the best online shopping experience. Through its user-friendly website, native mobile apps, and WeChat and Mobile QQ entry points, JD offers consumers a superior shopping experience. The company has the largest fulfillment infrastructure of any e-commerce company in China. As of September 30, 2017, JD.com operated 7 fulfillment centers and 405 warehouses covering 2,830 counties and districts across China, staffed by its own employees. JD.com is a member of the NASDAQ100 and a Fortune Global 500 company.

About Vipshop Holdings Limited

Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit www.vip.com.

About Tencent Holdings Limited

Tencent uses technology to enrich the lives of Internet users. Our social products Weixin and QQ link our users to a rich digital content catalogue including games, video, music and books. Our proprietary targeting technology helps advertisers reach out to hundreds of millions of consumers in China. Our infrastructure services including payment, security, cloud and artificial intelligence create differentiated offerings and support our partners’ business growth. Tencent invests heavily in people and innovation, enabling us to evolve with the Internet. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.hk) are traded on the Main Board of the Stock Exchange of Hong Kong.

 

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, statements regarding the expected closing of the transactions and the quotations from management in this announcement are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to, those included in JD.com’s and Vipshop’s filings with the SEC and in Tencent’s filings with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and none of Tencent, JD.com or Vipshop undertake any duty to update such information, except as required under applicable law.

Lenzing – The Lenzing Group aims to substantially increase its share of specialty fibers as a proportion of total revenue. Following the expansion drive already underway in Lenzing and Heiligenkreuz (both in Austria), Grimsby (Great Britain) and Mobile, Alabama (USA), the Supervisory Board of Lenzing AG approved the proposal of the Management Board yesterday to build the next state-of-the-art facility to produce lyocell fibers in Thailand. For this purpose, Lenzing is establishing a subsidiary in Thailand and purchasing a commercial property in Industrial Park 304 located in Prachinburi near Bangkok. In the coming months, the required permits and licenses as well as technical planning will be finalized. A definitive decision on constructing the new production plant will be made in the first quarter of 2018. Completion is scheduled for the end of 2020.
The selection of Industrial Park 304 in Prachinburi was based on its excellent overall infrastructure, outstanding expansion opportunities and the sustainable biogenic energy supply. Similar to the plant in Mobile, the planned production facility will be constructed on the basis of the latest state-of-the-art technology and feature a capacity of up to 100,000 tons annually. This site will strengthen the worldwide lyocell network of the Lenzing Group and enable its global customers to source TENCEL® branded fibers from Europe, North America and Asia.