Curia Appoints Philip Macnabb as Chief Executive Officer

Philip Macnabb

Philip Macnabb appointed CEO of Curia

ALBANY, N.Y., March 16, 2023 (GLOBE NEWSWIRE) — Curia, a leading contract research, development and manufacturing organization, today announced that Philip Macnabb has been appointed as chief executive officer, succeeding John Ratliff.

“On behalf of the Board of Directors, we thank John Ratliff for the tremendous progress that Curia made during his tenure,” said Curia board members Sean Cunningham, managing director, GTCR and William McMullan, managing director, Carlyle. “We are delighted to welcome Phil, a seasoned executive who has an impressive track record of focusing companies on their core value proposition, enhancing the customer experience and building organizations with real and sustaining value. Curia is well positioned in the growing CDMO market, and we are excited about its outlook under Phil’s leadership.”

Mr. Macnabb commented: “Curia is a unique company with deep scientific expertise across its end-to-end offering. We have incredible people in the global Curia community, who are highly motivated by our noble purpose of improving patients lives. Going forward, we will focus on creating sustainable value for customers and employees.”

Macnabb joins Curia having spent years in leadership roles at various companies in the healthcare industry. Prior to that, Macnabb held senior positions in technology, distribution, and consumer products segments. He received an MBA from the University of Chicago and a BS in Business Administration from Purdue University.

About Curia

Curia is a leading contract research, development, and manufacturing organization providing products and services from R&D through commercial manufacturing to pharmaceutical and biopharmaceutical customers. Curia’s nearly 4,000 employees at 29 locations across the U.S., Europe, and Asia help its customers advance from curiosity to cure. Learn more at CuriaGlobal.com.

Corporate Contact:
Sue Zaranek
Curia
+1 518 512 2111
corporatecommunications@CuriaGlobal.com

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Eskom welcomes placement on CreditWatch Positive

Eskom has welcomed its placement on CreditWatch Positive by rating agency S&P Global as a positive development, which endorses the positive impact of the Debt Relief on Eskom’s financial position and overall liquidity.

The placement comes after the announcement by the National Treasury of debt relief measures for Eskom in February.

Eskom said this is an indication to the market that the agency could improve Eskom’s CCC+ credit rating by one or more notches, based on their expectation that Eskom’s liquidity position will be strengthened by the debt relief.

“The announcement by S&P Global is extremely positive in that it endorses the positive impact of the Debt Relief on Eskom’s financial position and overall liquidity. It will also serve to allay fears lenders and creditors of Eskom might have with respect to Eskom’s financial stability,” Eskom Acting Group Chief Executive Calib Cassim said on Thursday.

The potential rating upgrade is expected to take place once the Debt Relief Bill has been approved and signed by Parliament and once the final terms and conditions of the debt relief have been provided by National Treasury.

In the 2023 Budget Review, National Treasury announced debt relief of R254 billion for Eskom.

This comprises advances to deal with Eskom’s debt service requirements over the next three financial years. The National Treasury also committed to taking over up to R70 billion in Eskom debt in the 2026 financial year.

The Debt Relief will reduce Eskom’s debt by as much as R168 billion, while at the same time alleviating pressure on Eskom’s operating cash flow, enabling expenditure on much needed capital to restore the energy availability of Eskom’s fleet of power stations and to invest in strengthening and expansion of the networks.

Source: South African Government News Agency

President Ramaphosa to host Belgian Monarch on State Visit

President Cyril Ramaphosa will host a State Visit by His Majesty Prince Philippe and Her Majesty Queen Mathilde of the Kingdom of Belgium from 22 to 27 March in Pretoria.

In a statement on Friday, The Presidency said that the visit, which is the first to South Africa by the Belgian monarchy – is a demonstration of the strong bilateral relations that exist between the two countries.

“The State Visit will serve to expand and strengthen bilateral relations between the two countries and revitalise economic relations with a focus on trade, foreign direct investment, and tourism.

“South Africa and Belgium are also pursuing cooperation in renewable energy and in particular, green hydrogen.

“Belgium is one of South Africa’s most important economic partners and many of South Africa’s exports enter Europe through the Port of Antwerp, which is the second largest in the European Union,” the Presidency said.

South Africa enjoys a healthy trade surplus with Belgium with organic chemicals as the key export, followed closely by diamonds and motor vehicles. Belgian companies are also significant investors in the South African economy.

The Presidency added that Belgium is traditionally among the ten major sources of international tourists to South Africa.

Relations between South Africa and Belgium are managed through a Joint Commission that meets at the level of Deputy Foreign Ministers.

The Deputy Minister of International Relations and Cooperation, Alvin Botes, hosted the Fourth Meeting of the South Africa – Belgium Joint Commission in Pretoria on 8 November 2022.

“King Philippe’s delegation will comprise political, economic, and academic leadership, including the Federal Minister of Foreign Affairs, Ms. Hadja Lahbib, as well as the Ministers-President and representatives of the five regions of Belgium.

“The programme of the monarchs will include official engagements with President Ramaphosa and members of government as well as visits to Johannesburg and Cape Town where they will engage with academia, business, and civil society, and visit historical and cultural sites,” the Presidency said.

Source: South African Government News Agency

Load shedding eased to Stage 2

Due to further improvements in the generation capacity over the past 24 hours, Eskom announced that it has implemented Stage 2 load shedding from midday until further notice.

“Eskom will provide an update as soon as any significant changes occur,” the power utility said on Friday.

This follows Thursday’s announcement that Eskom’s power generation fleet had improved.

According to the State-owned entity, over the past week, six coal-fired power stations achieved an energy availability factor (EAF) of 70%, a milestone last achieved on 8 May 2022.

Eskom said the breakdown of Camden, Duvha, and Matla power plants has reduced significantly, meaning that they also have returned to service.

In addition, Lethabo, Matimba, and Medupi are also showing signs of continued good performance and remain among Eskom’s three best-performing stations.

“In addition, Lethabo was able to sustain performance after a quick recovery following a wet coal incident experienced last week, due to flooding after the excessive rainfall.”

The organisation said it continues to pursue generation recovery programmes to recover operations and achieve sustained improvements in generation performance.

Source: South African Government News Agency