Hyosung Heavy Industries Corporation known as HICO to Begin U.S. Transformer Production with Acquisition of Transformer Factory in Memphis, Tennessee

MEMPHIS, Tenn. (PRWEB) December 13, 2019

Hyosung Heavy Industries Corporation, known as HICO America in the U.S., announced today they have entered into an agreement with Mitsubishi Electric Power Products Inc. (MEPPI) to acquire MEPPI’s transformer factory in Memphis, Tennessee. The transaction is slated to close in the first quarter of 2020 contingent on regulatory review.

HICO plans to produce technologically advanced state-of-the-art power transformers at a much higher volume with wider distribution and application than the products previously produced at this facility. HICO has committed to hiring many of the current MEPPI Memphis facility employees and is slated to start production in the first half of 2020.

Takeshi Yokota, CEO of Hyosung Heavy Industries, recently expressed his and the company’s excitement at the thought of joining the Memphis community, “The future is bright for Memphis and we look forward to working and growing with the local community as we expand in North America.” Yokota continued, “This was a multi-faceted agreement, and we would like to express our gratitude to local and state leaders for their support to bring this agreement to fruition. On behalf of the HICO team, we look forward to working with the existing MEPPI employees, adding additional resources and continuing to be a part of the Memphis community for years to come.”

Hyosung Heavy Industries is part of Hyosung Group, which is a $13 billion conglomerate headquartered in Seoul, South Korea. Over the last 50 years, Hyosung Heavy Industries has established itself as a leader in the global power transformer business. HICO America, the company’s U.S. based subsidiary has supported its customers and partners through the supply of power transformers and other electricity transmission and distribution solutions to major utility companies for the last 20 years.

PHOTOS: Hi-res available at this link: https://www.dropbox.com/sh/0q5qqxby7itly5m/AAAjUy2TsKUuirYc-7SLacpKa?dl=0

Read the full story at https://www.prweb.com/releases/hyosung_heavy_industries_corporation_known_as_hico_to_begin_u_s_transformer_production_with_acquisition_of_transformer_factory_in_memphis_tennessee/prweb16789041.htm

The Jacobsen Releases Report on the Future of The Low Carbon Fuel Standard

BOULDER, Colo. (PRWEB) December 13, 2019

The Low Carbon Fuel Standard (LCFS) is set to make a significant impact on the demand for Low CI feedstocks for biodiesel, renewable diesel, and co-processing, according to a report released by The Jacobsen.

The Jacobsen poured through over 700+ streams of data, proprietary surveys, and 50+ industry conversations to arrive at two scenarios looking at the future of LCFS.

The report starts with a look at the California Air Resource Board's (CARB) projections and how those numbers will impact feedstock balance sheets till 2030. The Jacobsen then applies their methodology to CARB's numbers, adjusting assumptions and trends to show an alternative forecast backed by the Jacobsen's research on current and funded projects. Lastly, they present a 10-year forecast factoring in rumors, innuendo, and technologies like co-processing. The analysis seems to suggest a more significant impact than anyone is currently predicting.

"The future of agriculture crops and waste products for the production of fuel is the single largest opportunity for struggling US farmers today, and it isn't just corn and soybeans," states John Cusick, a Senior Analyst at The Jacobsen.

In the spirit of transparency, The Jacobsen is also supplying customers with balance sheets for used-cooking oil (UCO), tallow, distillers’ corn oil (DCO), soybean oil, and canola oil. Customers will also be given access to their Infrastructure Project Monitor that looks at new construction, retrofitting, and announcements. Supplied with this information, The Jacobsen believes customers will arrive it the same conclusions.

Learn more about the report here: https://thejacobsen.com/consulting/lcfs-outlook/

About The Jacobsen

The Jacobsen sets the benchmark for a wide range of commodities trading as a result of our unbiased, rigorous, neutral position in the market. We employ experts with unparalleled experience in supply-demand fundamentals, reporting, and forecasting in both long-standing and emerging markets. Since 1865 we've been a price reporting agency, which puts us in a rarefied field of companies that have survived for so long

Read the full story at https://www.prweb.com/releases/the_jacobsen_releases_report_on_the_future_of_the_low_carbon_fuel_standard/prweb16786578.htm

The Vinyl Institute Praises Work on U.S.-Mexico-Canada Agreement

WASHINGTON (PRWEB) December 13, 2019

The Vinyl Institute welcomes the announcement that the White House and Congress have agreed on a revised United States-Mexico-Canada Agreement (USMCA) on trade. The USMCA will replace the 25-year-old North American Free Trade Agreement and modernize laws governing trade between these countries. It also protects the American vinyl resin industry’s tariff-free access to the Mexican and Canadian markets.

About 1/3 of the vinyl polymer produced in the United States is exported to foreign trading partners. According to the U.S. International Trade Commission, in 2018, U.S. domestic vinyl manufacturers exported 17 percent to Canada and 8 percent to Mexico. U.S. vinyl resin exports are expected to grow by more than 4.9 percent by 2022, creating thousands of new jobs.

“The Vinyl Institute commends both Republican and Democratic leaders in Washington for their hard work on USMCA and urges Congress to pass this agreement and President to sign it promptly,” said Ned Monroe, VI President/CEO. “USMCA is a win for American workers and businesses and will help create a prosperous environment for the American vinyl resin industry for years to come.”

About the Vinyl Institute:

The Vinyl Institute (VI), founded in 1982, is a U.S. trade association representing the leading manufacturers of vinyl, vinyl chloride monomer, vinyl additives, and modifiers. The VI works on behalf of its members to promote the benefits of the world's most versatile plastic, used to make everything from PVC piping to flooring, roofing and vinyl siding. The vinyl industry in the United States employs over 350,000 highly skilled employees at nearly 3,000 facilities and generates an economic value of $54 billion. For more information, visit vinylinfo.org.

Read the full story at https://www.prweb.com/releases/the_vinyl_institute_praises_work_on_u_s_mexico_canada_agreement/prweb16781953.htm