GKN Aerospace has unveiled a new $55 million, 150,000-square-foot repair facility in San Diego, doubling its maintenance, repair, and overhaul (MRO) capacity. Equipped with cutting-edge automation and robotics, the site supports next-generation engines like GE LEAP and Pratt & Whitney Geared Turbofan, alongside legacy models.

Serving over 400 global civil and military aviation customers, the facility also plans significant workforce expansion beyond its current 900 employees. Joakim Andersson, president of Engine Systems, highlighted the company's commitment to innovation and meeting North America’s growing MRO demand.

Saudi Arabia’s Minister of Transport and Logistics, Eng. Saleh Al-Jasser, announced the signing of contracts worth over SR10 billion to establish 18 new logistics zones. This initiative, revealed at the 6th Supply Chain and Logistics Conference in Riyadh, is part of the Kingdom's drive to strengthen its global competitiveness under Vision 2030.

𝗞𝗲𝘆 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:

• Expansion of logistics zones from 22 to 59 by 2030.

• Saudi ports achieving a 231.7-point increase in UNCTAD’s maritime connectivity index and adding 30 new shipping lines.

• SR5 billion investment to expand the Northern Train to support the growing mining sector.

The two-day conference featured the signing of 86 agreements, participation from 65 international and local companies, and initiatives like empowering women in logistics through training. With exports from the re-export sector growing 23% year-on-year to reach SR61 billion, Saudi Arabia continues its efforts to solidify its status as a global logistics hub.

French nuclear group Orano announced two joint ventures with China’s XTC New Energy Materials to develop EV battery component plants in Dunkirk, France.

The partnership, named Neomat, will establish:

• A Cathode Active Materials (CAM) manufacturing facility.

• A Precursor Cathode Active Material (PCAM) production plant.

A public inquiry for the project is slated for spring 2025, marking a significant step in advancing Europe’s battery production capabilities.

Photo Credit: Orano.Group

Saudi Arabia unveiled major updates on its Expo 2030 Riyadh plans during the 175th General Assembly of the Bureau International des Expositions (BIE) in Paris. Senior officials shared progress on the master plan, governance, and preparations for the landmark event, emphasizing the nation’s readiness to host a transformative global exhibition.

The Expo’s theme, “Foresight for Tomorrow,” focuses on three core subthemes: Transformational Technology, Sustainable Solutions, and Prosperous People. The master plan spans a 6-million-square-meter site with five themed zones, over 200 pavilions, and a design that integrates sustainability and innovation. The newly established Riyadh Expo Development Company, backed by the Public Investment Fund, is tasked with overseeing the execution, operations, and legacy of Expo 2030.

Saudi Arabia reaffirmed its commitment to collaboration by announcing plans to engage with global participants at Expo 2025 Osaka, gathering insights and shaping the vision for 2030. A new logo for Expo 2030, designed to reflect its bold vision, will be officially revealed in the coming months.

Thyssenkrupp, Germany’s largest steelmaker, announced a €1 billion impairment on its steel division, citing weak demand, rising Asian competition, and high energy costs. This marks the second major writedown in as many years and contributed to a €1.5 billion net loss for the 2023/24 fiscal year, down from €2 billion the year prior.

The company is in talks with Czech billionaire Daniel Křetínský, who owns 20% of the steel unit, about increasing his stake to 50%. The outcome hinges on a new business plan under development.

Despite the setback, Thyssenkrupp reported positive free cash flow of €110 million, driven by prepayments in its Marine Systems division. CEO Miguel López emphasized 2024 as a pivotal year for strategic decisions, including the potential restructuring of its steel and warship businesses. Shares rose slightly after the announcement.