GOVERNMENT BUSINESS
Parker | July 20, 2022
Parker Hannifin Corporation (NYSE:PH) today welcomes the announcement from the UK’s Secretary of State for Business, Energy and Industrial Strategy that, following public consultation, he accepts the competition and national security undertakings provided by Parker in relation to the Meggitt acquisition and the transaction is therefore cleared to proceed by the UK Government. As previously announced on August 2, 2021, the boards of Meggitt and Parker reached agreement on the terms and conditions of a recommended all cash acquisition by Parker of the entire issued, and to be issued, ordinary share capital of Meggitt PLC (the “Acquisition”).
Parker also confirms that it has signed legally binding economic commitments with the UK Government. These commitments include maintaining the following, for five years after the closing of the Acquisition (“Undertaking Period”):
Meggitt’s headquarters and its aerospace and advanced materials center of excellence in Ansty Park, in Coventry, UK;
Meggitt’s key areas of existing operational capability in the UK;
R&D (including product engineering) and manufacturing labor headcount in the UK;
Meggitt’s sustainability targets of reducing net carbon emissions by 50 per cent, by 2025; and achieving net zero greenhouse gas emissions by 2050; and
Contractual obligations regarding supply of goods and services to HM Government.
Finally, as innovation is a key driving factor of success for both Meggitt and Parker, Parker has agreed to increase Meggitt’s R&D expenditure in the UK by at least 40 per cent, by the end of the Undertaking Period, and its UK apprenticeship opportunities by 20 per cent.
“We are pleased to have reached this important clearance milestone from the UK Secretary of State, We have also agreed to substantial legally binding commitments, which underscore our deep commitment to the UK. As we move closer to the completion of the acquisition and the combination of these two strong businesses, we look forward to welcoming the Meggitt team to Parker.”
-Tom Williams, Chairman and Chief Executive Officer, Parker.
The Acquisition remains subject to satisfaction or, where applicable, waiver of the conditions set out in the scheme circular published on August 16, 2021, including regulatory clearance and the sanction of the scheme of arrangement by the High Court of Justice in England and Wales pursuant to the UK Companies Act 2006. Parker continues to expect the Acquisition to close in Q3 2022.
About Parker-
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.
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GOVERNMENT BUSINESS
US Department of Energy (DOE) | August 18, 2022
To commemorate the fifth anniversary of Hurricane Harvey, the Houston energy community, brought together by ALLY Energy, is convening with the US Department of Energy (DOE) to explore the progress Houston has made since 2017 on climate resiliency and on ensuring a just energy transition. Hurricane Harvey was a significant recent reminder of the critical need for climate resilience and for the transition to net-zero economies to be inclusive and just – so no one is left behind.
“A just and inclusive energy transition doesn’t happen without a strong partnership between the private and public sector. We are proud to host DOE and honor the mayor for creating and adopting a city-wide Climate Action Plan and representing Houston on a national level as the Chair of the Climate Mayors.”
-Katie Mehnert, CEO of ALLY Energy.
Following a series of informative meetings around Houston, the DOE visit will culminate in a luncheon on Friday, August 26 during which Mayor Turner, the DOE, and Houston energy leaders will discuss the lessons learned over the last five years and what a just energy transition means for our community. ALLY Energy will also present Mayor Houston with its first Lifetime Achievement GRIT Award for his work on climate resiliency.
I am honored and humbled to accept the first ALLY Energy Lifetime Achievement GRIT Award, said Mayor Sylvester Turner. Houston has faced seven federally declared disasters in seven years. Yet, our city proves time again that we are strong and resilient as we build toward the future. We are the energy capital of the world while leading on energy transition. We know we can effectively mitigate climate change, implement resilient strategies, and address the needs of our most under-resourced communities - without leaving anyone behind.
We applaud Mayor Sylvester Turner and our fellow energy leaders for the important work our city is doing to ensure Houston is leading the charge in accelerating a just energy transition, said William J. (John) Berger, Chief Executive Officer of Sunnova Energy International. If the current global energy crisis has taught us anything, it’s that our country, and our home state of Texas, must come together to support a resilient energy transition by ensuring we address energy affordability, safeguard energy security, and mitigate climate change in the face of growing economic hardship and extreme weather events.
Also at the lunch, the audience will get to experience a film premier from the Rational Middle, a documentary that highlights experts in environmental justice and aims to clarify how we can take advantage of the opportunities of a just transition.
“We believe for the U.S. to make progress and to achieve its net zero goals, everybody has to feel they are part of the energy transformation, As we all build a cleaner energy future together, Shell USA will continue to focus on how we create economic, social, and environmental value in our communities and nationwide. We are very proud to partner with Shell USA’s hometown, Houston, on its path toward climate resiliency.”
-Gretchen Watkins, President Shell USA, Inc.
INFORMATION ON THE LUNCHEON
Houston has long been known as the oil and gas capital of the world. As it transitions itself to the energy capital of the world, how can it ensure a just transition? Attend the limited-seating event by registering here. We are grateful to our sponsors, Shell USA, Inc. and Sunnova Energy, for helping to make this important event a reality.
ABOUT ALLY ENERGY & THE GRIT AWARDS:
ALLY Energy is the leading energy workforce platform that builds culture, careers, and skills for an equitable transition. ALLY connects the energy industry and public to resources and best practices and serves as a neutral platform for dialogue and actions to address the energy transition. The community includes professionals and startups in 120 countries in nearly 1,000 companies across energy in oil and natural gas, utilities, renewables, and climate technology. The annual GRIT Awards℠ & Best Energy Workplaces℠ were created to honor industry leaders, professionals, academia, students, and public servants for their achievements in driving a just, equitable, diverse, and inclusive energy transition.
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GOVERNMENT BUSINESS,GOVERNMENT FINANCE
Springbrook Software | October 04, 2022
Long County, GA is the latest local government agency to move from an on-premises solution to Springbrook's Cirrus Cloud Financial platform. The platform is designed from the ground up specifically for small to medium sized local government agencies. The town is utilizing Springbrook's fully integrated Cirrus Cloud ERP suite including Utility Billing, Finance, Cashless Payments, Municipal Payments and Cash Receipts.
Long County sought a robust and secure ERP that could scale as their projected needs grow over the next few years and selected Springbrook after reviewing several other market offerings.
"Springbrook fulfills our needs and will provide our citizens with the modern experience that they demand."
-Bernice Johnson, Finance Director of Long County, GA.
Springbrook is actively working with many small to medium sized municipalities in the southeast. The flexibility of the Springbrook cloud platform provides local government agencies with superior protection against cyber-attacks, the ability to work from anywhere, and will enable the County's personnel to effectively run their entire administrative operation safely from any browser. Cirrus is a true cloud-based system that does not require downloading any additional software for access.
"We have invested a tremendous amount into building an entirely new platform with the goal of bringing the most powerful cloud-based solutions to small and medium sized municipalities. We are solely focused on this market segment and have been for over 35 years. Springbrook is constantly expanding our solution suite to deliver new and innovative products, like Advanced Capital Budgeting and Mobile Work Orders. Our goal is to make it as easy as possible for local agencies do their jobs efficiently and securely."
-Robert Bonavito, CEO Springbrook.
About Springbrook Software:
Springbrook Software is the country's leading cloud-based finance and administration software provider designing solutions specifically for small to medium sized local government agencies. Nearly 2000 cities, towns and districts from coast to coast use our suite of modern, high-performance solutions to manage their finances, payroll, utility billing and collect citizen payments. Springbrook is headquartered in Portland, Oregon with regional presence in over 40 states, and seven countries internationally.
About Long County, GA:
Located in southeast Georgia, Long County occupies 400 square miles of the Atlantic Coast Flatwoods. The county is bordered by Liberty, McIntosh, Tattnall, and Wayne counties, and its entire southwestern boundary runs along the Altamaha River.Long County, designated in 1920 from lands in Liberty County. Long County, historically and currently, is a rural, agricultural area. The principal farm crop was once cotton, but by the 1970s it had been replaced by tobacco, corn, soybeans, and cattle. The pine forests of the region have always played an important role in the economy. As of the 2020 United States census, there were 16,168 people, 5,695 households, and 4,146 families residing in the county.
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