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23 July 2025
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Jul 23, 2025Manufacturing Net
Editor's Note: This story has been updated with a statement from Cognizant.
In 2024, IBM identified the manufacturing sector as the industry most attacked by cyber criminals for the third straight year – which is why we see even the biggest brands being impacted by the work of hackers.
Bleach maker Clorox is coming clean about the details surrounding a recent ransomware attack but the fingerpointing extends past the gang of perpetrators and all the way to the company’s IT provider.
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And Clorox believes that the IT firm's faults in this situation were so egregious that it has filed a lawsuit.
The suit points to a 2023 incident in which hackers from the group Scattered Spider targeted several firms.
According to Reuters, Scattered Spider is particularly adept at “tricking IT help desks into handing over credentials and then using that access to lock them up for ransom” – which is exactly what Clorox says happened in its case.
In fact, Clorox’s lawsuit claims suggest it was almost… easy.
The company alleges that one of the group’s hackers was able to repeatedly steal employees' passwords simply by calling the IT desk with its service provider - Cognizant - and simply asking for credentials. And while the hackers were posing as Clorox employees, Clorox alleges the service desk didn’t ask for verification details of any kind.
Reuters reviewed the lawsuit documents, which included call transcripts and other details showing just how basic the scheme was. According to the suit, "Cognizant was not duped by any elaborate ploy or sophisticated hacking techniques … Cognizant handed the credentials right over."
Clorox said that the hack resulted in $380 million in damages, a large chunk of which came from the company’s inability to ship its goods in the immediate aftermath of the attack.
Cognizant issued the following statement to Industrial Equipment News (IEN) regarding the incident:
"It is shocking that a corporation the size of Clorox had such an inept internal cybersecurity system to mitigate this attack. Clorox has tried to blame us for these failures, but the reality is that Clorox hired Cognizant for a narrow scope of help desk services which Cognizant reasonably performed. Cognizant did not manage cybersecurity for Clorox."
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00:00.009 --> 00:05.519
In 2024, IBM identified the manufacturing
sector as the industry most attacked by
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cybercriminals for the third straight year,
which is why we see even the biggest brands
00:10.319 --> 00:15.000
being impacted by the work of hackers.
Bleach maker Clorox is coming clean about the
00:15.000 --> 00:19.959
details surrounding a recent ransomware attack,
but the finger pointing extends past the gang
00:19.959 --> 00:23.510
of perpetrators and all the way to the
company's IT provider,
00:23.719 --> 00:28.287
and Clorox believes that the IT firm's
faults in this situation were so egregious that
00:28.287 --> 00:30.037
it has filed a lawsuit.
00:30.326 --> 00:35.117
The suit points to a 2023 incident in which
hackers from the group Scattered Spider
00:35.367 --> 00:37.806
targeted several firms.
According to Reuters,
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Scattered Spider is particularly adept at
tricking IT help desks into handing over
00:42.687 --> 00:45.876
credentials and then using that access to lock
them up for ransom,
00:46.126 --> 00:49.326
which is exactly what Clorox says happened in
its case.
00:49.606 --> 00:54.083
In fact, Clorox's lawsuit
claims suggest it was almost easy.
00:54.293 --> 00:59.094
The company alleges that one of the group's
hackers was able to repeatedly steal employees'
00:59.094 --> 01:02.923
passwords simply by calling the IT desk with
its service provider,
01:03.094 --> 01:08.094
Cognizant, and simply asking for credentials.
And while the hackers were posing as Clorox
01:08.094 --> 01:13.753
employees, Clorox alleges the service desk
didn't ask for verification details of any kind.
01:14.013 --> 01:18.541
Reuters reviewed the lawsuit documents, which
included transcripts and other details showing
01:18.541 --> 01:20.011
just how basic the scheme was.
01:20.221 --> 01:25.710
According to the suit, Cognizant was not duped
by any elaborate ploy or sophisticated hacking
01:25.710 --> 01:29.051
techniques.
Cognizant handed the credentials right over.
01:29.221 --> 01:33.621
Clorox said that the hack resulted in $380
million in damages,
01:33.740 --> 01:38.380
a large chunk of which came from the company's
inability to ship its goods in the immediate
01:38.380 --> 01:40.070
aftermath of the attack.
01:40.380 --> 01:42.100
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Us Metals Company And Pakistan Forge $500 Million Mineral Investment PactSubscribe to our free newsletter today to keep up to date with the latest manufacturing news.
US Strategic Metals has signed a $500 million investment agreement with Pakistan’s Frontier Works Organization, paving the way for a new poly-metallic refinery and expanded mineral exports. The deal marks a significant move in the global race to secure critical minerals essential for advanced manufacturing, energy transition technologies, and national security applications.
The Missouri-based firm will partner with Pakistan’s largest miner of critical minerals to develop infrastructure capable of processing and refining key materials including copper, antimony, gold, tungsten, and rare earth elements. Both parties signaled the deal as the first phase in a longer-term collaboration aimed at increasing Pakistan’s mineral output and integrating it with US aligned supply chains.
Beyond the immediate capital investment, the agreement has broader implications for Pakistan’s industrial base. The refinery project is expected to reduce reliance on raw material exports, instead capturing value through in-country processing and manufacturing. This change could benefit a wide range of sectors, from electronics to automotive components, by supporting local job creation and technology transfer.
Prime Minister Shehbaz Sharif, whose office facilitated the deal, framed it as a step toward economic resilience. His administration hopes increased foreign investment in the mining sector will support efforts to reduce Pakistan’s dependence on international debt markets. By processing minerals domestically, the country aims to expand its industrial footprint and strengthen trade relations with the US.
The US Department of Energy classifies many of the minerals included in the agreement as essential to national competitiveness. Rare earth elements, in particular, are vital to the production of electric vehicles, wind turbines, and military hardware. As countries reassess supply chain dependencies, the US has moved to diversify away from China, which currently dominates global refining capacity.
For Washington, Pakistan offers an alternative source of strategic materials in a region where commercial and diplomatic ties are becoming increasingly important. The refinery project complements a recently finalized trade agreement between the two countries focused on lowering tariffs and facilitating investment in minerals and energy development.
Despite the promising scope of the deal, operating conditions remain complex. Much of Pakistan’s mineral wealth lies in Balochistan, a region affected by separatist unrest. Earlier this year, the US State Department designated the Balochistan National Army as a terrorist organization, underscoring the security risks foreign firms may face while working in the region.
The Pakistani government has committed to improving security protocols and offering guarantees to investors operating in sensitive areas. Still, the viability of large-scale mineral projects will depend in part on the ability to maintain stability and local support in mineral-rich provinces.
The agreement with US Strategic Metals is one of several recent initiatives involving foreign investment in Pakistan’s mining sector. Canadian firm Barrick Gold already holds a 50 percent stake in the Reko Diq copper and gold project, one of the world’s largest undeveloped reserves. Portuguese construction firm Mota-Engil also signed a memorandum of understanding this week to explore logistics infrastructure in support of mineral exports.
The involvement of multiple international actors reflects growing interest in Pakistan’s untapped resource base, estimated by the government to be worth several trillion dollars. As more projects materialize, the country could become a hub for mineral processing and logistics serving both regional and global markets.
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11 September 20253 min readUs Metals Company And Pakistan Forge $500 Million Mineral Investment Pact
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Canadian Shipbuilder Davie Reveals Plans For $1B Icebreaker Factory In TexasDavie Defense Inc., the American arm of Canadian shipbuilder Davie, has revealed detailed plans for a $1 billion “American Icebreaker Factory” in Galveston, Texas, marking one of the largest expansions of U.S. shipbuilding capacity in decades.
The facility will be developed at the Gulf Copper shipyard, a historic site on Galveston’s waterfront, and will be purpose-built to deliver Arctic Security Cutters for the U.S. Coast Guard. Renderings show at least six new assembly bays, a reclaimed waterfront apron, and two new shiplifts replacing four of the yard’s existing finger piers.
Davie Defense said the investment is designed to meet the Trump administration’s shipbuilding priorities, including the Coast Guard’s urgent need for new polar vessels.
The new facility is being developed in partnership with Pearlson, a Florida-based specialist in shipyard design and program management, which has previously worked with BAE Systems, Austal USA, and Fincantieri Marinette.
Davie also highlighted the role of its Finnish subsidiary, Helsinki Shipyard, which has decades of experience in constructing advanced icebreakers. Helsinki has built many of Russia’s non-nuclear icebreakers and is currently producing Canada’s Polar Max, scheduled for delivery by 2030 as one of the world’s most powerful polar ships.
Executives said this expertise will be applied in Texas, noting that their proposed Arctic Security Cutter (ASC) design is already proven in seven ships. Davie Defense claims it can deliver the first ASC within 26 months of signing a contract.
The U.S. Coast Guard, backed by the One Big Beautiful Bill Act, has a $3.5 billion budget for medium icebreakers but must allocate it quickly. In April, the service issued a Request for Information for up to three ASCs that could be delivered within three years. The goal is to have the first ship in service before the end of President Donald Trump’s current term.
Currently, the U.S. has only three polar icebreakers, while Russia operates over 40, and China is quickly expanding its fleet.
The Coast Guard’s current Polar Security Cutter program at Bollinger Shipyards has faced major delays, with the first delivery now pushed to 2030, six years behind schedule.
Davie Defense projects the Galveston yard could directly employ more than 2,000 workers and support more than 7,000 jobs across Texas. An independent study by Impact Data Source estimates the overall economic impact at $9 billion. The company added that around 4,000 jobs nationwide could be created across its supply chain.
The project faces competition from a new consortium led by Louisiana-based Bollinger Shipyards. That group includes Finland’s Rauma Shipyard, Canada’s Seaspan Shipyards, and Aker Arctic Technology, and is also aiming to build the next generation of U.S. icebreakers.
Davie’s expansion in Texas follows its acquisition of Gulf Copper’s shipbuilding assets in Galveston and Port Arthur, a deal announced in June and expected to close soon. The company said it shares a long-term vision with Gulf Copper to turn Texas into a hub for advanced icebreaker and complex ship construction.
The initiative also supports the ICE Pact, a trilateral agreement signed in July 2024 by the U.S., Canada, and Finland to strengthen cooperation on icebreaker production and polar security. Davie’s Canadian operations have delivered more than 720 specialised ships since 1825, while Helsinki Shipyard has built over half the world’s icebreaker fleet.
A formal ceremony is planned in Texas this fall to mark the start of construction on the new facility.
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Siemens Energy Invests $235 M In Nuremberg FactoryImage credit: 1take1shot / Shutterstock.com
Germany, Nuremberg: Siemens Energy has announced a $235 M (€220 M) investment to expand its transformer factory in Nuremberg, Germany, a move that will create 350 new jobs and boost production capacity by 50 %.
The foundation stone for the site expansion was laid today,with Bavaria’s Minister President Dr Markus Söder and Nuremberg’s Mayor Marcus König. With this investment, Siemens Energy is addressing the sharp increase in global demand for large transformers which play a crucial role in grid expansion.
The Nuremberg site, which has been producing transformers since 1912, currently employs around 1,000 people. The expansion will add 16,000 m2 to the factory, with new production areas expected to be operational by 2028. Construction will continue alongside ongoing operations to meet soaring demand for large transformers, which are vital for grid expansion and renewable integration.
“Siemens Energy is creating 350 modern jobs in a place that has shaped energy history for over a century,” said Dr Söder. “Transformers and converters from Nuremberg are essential for secure power grids and the energy transition.”
Christian Bruch, CEO of Siemens Energy, highlighted the site’s long history and strong workforce: “With 113 years of expertise and highly qualified employees, Nuremberg has the right conditions to keep delivering key technologies for the energy transition.”
Last year, Siemens Energy announced a $106 M (€90 M) investment at the same site for a new converter production facility. In total, Siemens Energy has invested around $1.17 B (€1 B) in Germany over the past three years. In 2024, the company created approximately 1,300 new jobs in Germany, with up to 1,500 more expected by the end of 2026.
Source: Siemens Energy
#Christian Bruch#jobs#Marcus König#Markus Söder#Nuremberg#Siemens Energy#transformer factory expansion
The $3.7 B partnership will secure long-term funding for Germany’s transmission grid expansion, supporting energy transition goals.
The company will inaugurate its Trotwood site on 9 October with a ribbon-cutting ceremony, presentations, and a guided tour.
After a historic blackout left 50 million people without electricity, Iberian leaders demand urgent grid interconnections with the rest of Europe.
Transformers-Magazine
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09 September 20252 min readSiemens Energy Invests $235 M In Nuremberg Factory
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Sodium-Ion Battery Maker Natron Energy Shuts Down, Halts $1.4B Factory PlansBeyond the company’s plans for North Carolina, Natron operated two U.S. battery facilities. In a letter dated Aug. 28, the company informed Michigan officials that it would permanently close its facilities in Holland, Michigan, and Santa Clara, California, on Sept. 3, affecting 95 employees across both states.
Prior to the closure, Natron was seeking out capital from new and existing investors, as well as new purchase orders that would have resulted in future revenue, the company said in its letter. However, on Aug. 27, its board of directors determined Natron’s efforts were unsuccessful, sparking the layoffs and ultimate shuttering of the company.
Established in 2012, Natron designed its batteries for a range of customers in the industrial power space, including for data centers, electric vehicle charging, telecommunications and more.
Unlike competing batteries made of lithium-acid or lithium-ion, Natron’s sodium-ion batteries did not require expensive materials such as lithium, cobalt or nickel, according to Natron’s website.They also had a stronger battery life due to its Prussian blue electrode structure, the company said.
The 1.2 million-square-foot plant would have produced 14 gigawatts of sodium-ion batteries in North Carolina, expanding Natron’s production 40 times over. The Michigan location began operations in April 2024.
Typically, companies provide a 60-day notice prior to plant closures. Following this rule would have required Natron to disrupt operations and harm its chances of securing funding from investors and customers, the company said in its letter. Sherwood Partners did not immediately respond to request for comment.
“Accordingly, Natron is providing this notice…as soon as practicable,” wrote Elizabeth Shober, Natron’s head of team and talent.
The closure is the latest among companies looking to manufacture batteries outside of Asia. In June, Oregon-based Powin filed for Chapter 11 bankruptcy and, more recently, sold its assets to FlexGen Power Systems. Sweden-based Northvolt also filed for bankruptcy earlier this year in its home country, citing rising capital costs, geopolitical instability and supply chain disruptions. Several of its assets have since been sold to California-based, lithium-sulfur battery maker Lyten.
Tertiary businesses are also being affected. A Toronto-based, lithium-ion battery recycler, Li-Cycle, recently sold its assets to Glencore via bankruptcy auction after struggling to drum up capital last year.
Construction Dive
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09 September 20252 min readSodium-Ion Battery Maker Natron Energy Shuts Down, Halts $1.4B Factory Plans
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Mozambique Embraces A $6 Billion Electricity ProjectSIDUAVA, Mozambique (AP) — Hermínio Guambe used to cut hair in a tiny barbershop with no electricity in his village outside Mozambique’s capital. The arrival of power changed everything.
The 48-year-old now uses hair dryers. The village pharmacy stocks vital medicines requiring refrigeration. More jobs were created as trading and transport picked up.
“These are the kinds of businesses that drive economies,” World Bank President Ajay Banga said in an interview with The Associated Press during a July visit to tour electrification projects and meet entrepreneurs like Guambe. “Electricity isn’t just light, it’s a chance.”
Mozambique has won World Bank backing for the $6 billion Mphanda Nkuwa hydroelectric plant, southern Africa’s biggest such project in 50 years.
Mozambique, one of the world’s poorest countries by per capita income, aims to connect all of its 33 million mostly rural citizens to electricity by 2030, largely through renewable energy from hydroelectric, solar and other sources.
Challenge similar in much of sub-Saharan Africa
The challenge is similar in much of sub-Saharan Africa, home to 85% of the global population living without power, according to the World Bank.
Electricity access in Mozambique has nearly doubled from 31% in 2018 to 60% in 2024. The state-run energy supplier Electricidade de Moçambique, or EDM, says it connected 563,000 homes in 2024 and plans to reach 600,000 this year.
“Mozambique has the resources, gas, hydro, solar, and it’s already the biggest supplier of excess power to southern Africa,” Banga said.
His visit came with fanfare, and political undertones. President Daniel Chapo, who took office after a disputed 2024 election, raised his fist to cheering crowds.
Located 60 kilometers (37 miles) downstream from the even larger Cahora Bassa hydroelectric dam along the Zambezi river, the Mphanda Nkuwa plant is expected to generate 1,500 megawatts when it begins operations in 2031. That will help a region facing a 10,000-megawatt deficit that keeps millions from accessing power.
The World Bank is not financing the project outright.
Global energy firm TotalEnergies, French utility Électricité de France and Mozambique’s Hidroeléctrica de Cahora Bassa will develop the plant. The World Bank is providing a mix of support including concessional funding for legal and environmental issues and transmission lines, partial risk guarantees and political risk insurance.
Banga said this approach in Africa aims to move away from reliance on donors for high-impact projects. It coincided with a global shift in development funding. With the Trump administration dismantling the U.S. Agency for International Development, multilateral lenders like the World Bank are stepping in, often emphasizing private sector–led growth.
“Many shareholders, even in Europe, are reducing their overseas development assistance budgets because they have to divert the money to defense and their own needs. This is the way it is,” Banga said.
New dams are rising but Africa's waters are mostly untapped
Mphanda Nkuwa could also help Mozambique earn critical foreign exchange through exports of electricity to neighbors like South Africa and Zimbabwe. It is among several large hydropower projects aiming to reshape Africa’s energy future.
Ethiopia is preparing to inaugurate its $4 billion Grand Renaissance Dam, which will eventually generate over 5,000 megawatts, doubling the nation’s power output despite fierce opposition from Egypt. In Congo, the World Bank is backing the huge Inga 3 project that could also send electricity to South Africa, Nigeria and others.
Yet hydropower — the world’s largest source of renewable electricity — remains mostly untapped in Africa, with the World Bank and the International Hydropower Association estimating around 90% of capacity is still unused.
And building a mega-dam is only part of the challenge in Mozambique.
“Our country is quite big, and it’s not so easy to go everywhere with the national grid,” said EDM chairman Joaquim Ou-Chim. “So it’s off-grid solutions, mainly driven by solar.”
About 10% of electricity access in Mozambique comes from off-grid projects, and more are being rolled out.
Concerns over the financial aspect
Evaristo Cumbane, an energy consultant based in Maputo, said large projects like Cahora Bassa and Mphanda Nkuwa are important but stressed the need for smaller, local sources of energy.
“We are talking about plenty of rivers, plenty of sunshine, plenty of wind, plenty of coastlines,” he said, adding that “the real Mozambique is in rural, remote areas.”
Cumbane also urged caution over Mozambique’s growing debt burden. Public debt rose to about $17 billion in the first quarter of 2025. A record $2.1 billion was spent in 2023 in debt service, according to the Finance Ministry.
“The World Bank is not a godfather, it is not god. The guy is here on business. These are not donations,” he said.
It was not clear how much new debt is involved in the Mphanda Nkuwa hydroelectric project. Banga said the project’s final cost is yet to be determined but estimated $5 billion to $6 billion.
Mozambique’s path has been complicated. Since gaining independence from Portugal in 1975, it has seen civil war, flare-ups of fighting following a peace deal and an ongoing Islamist insurgency in the north that forced TotalEnergies to halt a $20 billion gas project, though it hopes to restart operations.
But for Mozambicans, Guambe’s buzzing barbershop is proof of what’s possible when power reaches the people.
In another impoverished neighborhood outside Maputo visited by Banga, 38-year-old Aurélio Arlindo has been unemployed for years and lives without electricity. But new power poles signal hope.
“It’s really coming. I am just waiting,” he said, and he hopes to open a cold drinks stall.
Manufacturing Net
factory
08 September 20255 min readMozambique Embraces A $6 Billion Electricity Project
Manufacturing Net
08 September 2025
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Musk'S Spacex Spends $17 Billion To Acquire Spectrum Licenses From EchostarElon Musk's SpaceX has reached a deal worth about $17 billion with EchoStar for spectrum licenses that it will use to beef up its Starlink satellite network.
The deal for EchoStar's AWS-4 and H-block spectrum licenses includes up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock. SpaceX will make approximately $2 billion in cash interest payments on EchoStar debt through November 2027.
SpaceX and EchoStar will enter into a long-term commercial agreement which will allow EchoStar's Boost Mobile subscribers to access SpaceX's next generation Starlink Direct to Cell service.
Shares of EchoStar surged 19% before the market opened Monday.
Last month AT&T said that it will spend $23 billion to acquire wireless spectrum licenses from EchoStar, a significant expansion of its low- and mid-band coverage networks.
EchoStar said that it anticipates that the AT&T deal and the SpaceX transaction will resolve recent inquiries from the Federal Communications Commission about the rollout of 5G technology in the U.S. The FCC had been calling for hearings on whether Echostar was properly using the spectrum that it is now selling, and its efforts to make 5G more available to communities.
EchoStar said Monday that it will use the proceeds from the sale partly to pay down debt. Current operations of Dish TV, Sling and Hughes will not be impacted, the company said.
Manufacturing Net
factory
08 September 20252 min readMusk'S Spacex Spends $17 Billion To Acquire Spectrum Licenses From Echostar
Manufacturing Net
08 September 2025
factory
Quebec Judge Declares Northvolt Insolvent As Province Recovers $200 MillionA Quebec Superior Court judge has declared insolvent the North American branch of battery maker Northvolt as the provincial government looks to recover $260 million owed to it by the company.
Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection at the request of the Quebec government.
Northvolt laid off its entire workforce on Thursday following Economy Minister Christine Fréchette’s announcement earlier in the week that the government would provide no more funding for the company’s planned electric-vehicle battery plant near Montreal. On Friday, Fréchette’s office confirmed that the province has already recuperated nearly $200 million from frozen bank accounts belonging to Northvolt.
“We are deeply saddened by this outcome,” Northvolt said Friday in a statement to the court. “We recognize the difficulty of moving forward, but we remain faced with a brutal reality: that of a project abandoned without having explored all possible avenues, and of a community — employees, suppliers, partners — left without answers.”
Northvolt announced plans in 2023 to build a $7-billion battery “gigafactory” in Quebec, touted as the largest private investment in the province’s history. But the project’s future was thrown into doubt when Northvolt’s Swedish parent company declared bankruptcy in March. Construction on the plant never moved past preparatory stages.
Quebec signed an agreement with the North American subsidiary in April to give it time to find new buyers or investors. But the government says Northvolt received no binding offers by a Sept. 1 deadline, and decided to pull the plug on the project.
“Through all the discussions there have been with potential players, there is no hope that the project can be reborn,” said Jean Gagnon, an insolvency trustee with Raymond Chabot, the firm designated to oversee the creditor protection proceedings.
Gagnon told the court on Friday that 80 groups were approached to solicit interest in the company, but only one non-binding offer was officially submitted by a July deadline.
In August, American battery startup Lyten announced it was acquiring Northvolt’s assets in Sweden and Germany and hoped to buy the Northvolt Six project in Quebec’s Montérégie region. But Gagnon said the project Lyten envisioned was “not of the same nature” as the planned battery plant, and the American company wanted until March 2026 to complete due diligence. A spokesperson for Fréchette said on Tuesday that Lyten wanted more government funding that Quebec was unwilling to offer.
Quebec lost a $270-million investment in Northvolt’s Swedish parent company when it went bankrupt. The government is now trying to recover a $240-million loan issued to Northvolt in 2023 to allow it to purchase the land for the plant. It says the debt is now worth $260 million with interest.
Gagnon confirmed that about $200 million has been withdrawn to repay the debt from accounts belonging to the North American subsidiary that were frozen by the government after the bankruptcy announcement. The government also wants the court to authorize a process for the sale or repossession of the land.
Northvolt laid off its workforce of around 50 employees on Thursday, and the company’s management has resigned. In its statement Friday, the company said it would not oppose the court proceedings because it “recognizes that a project of this scale and scope cannot be carried out without the full support of the government of Quebec.”
However, Northvolt also accused the government of misrepresenting the company’s efforts to find a solution, and of giving virtually no notice of its intentions. “Our employees learned of the end of the project — and therefore of their jobs — from the Journal de Montréal,” the statement said.
The company said its assets are valued at $520 million, but the province didn’t give it a chance to repay its debt before launching court proceedings. “The method used to force the project’s abandonment is unique: at no time did the (government) express its intention to have its loan repaid or suggest any outcome other than the sale of the company and the project,” Northvolt said.
The court decision on Friday will allow the court-appointed monitor to rehire 15 employees to maintain the site where the factory was to be built. The case is scheduled to return to court on Thursday.
Plant
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08 September 20254 min readQuebec Judge Declares Northvolt Insolvent As Province Recovers $200 Million
Plant
08 September 2025
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U.S. Metals Company Signs $500M Investment Deal With PakistanISLAMABAD (AP) — A U.S. metals company signed a $500 million investment deal with Pakistan on Monday.
Pakistan's Frontier Works Organization — which is the country's largest miner of critical minerals — signed a memorandum of understanding with Missouri-based U.S. Strategic Metals for collaboration plans that include setting up a poly-metallic refinery in Pakistan.
READ MORE: Pakistan, U.S. Reach Trade Agreement to Develop Oil Reserves, Reduce Tariffs
The deal comes after Washington and Islamabad last month reached a trade agreement that Pakistan hoped would attract American investment in its minerals and oil reserves.
U.S. Strategic Metals is focused on producing and recycling critical minerals, which the U.S. Department of Energy has defined as essential in a variety of technologies related to advanced manufacturing and energy production.
A second agreement was signed between the National Logistics Corp of Pakistan and Mota-Engil Group, a Portuguese engineering and construction company.
A statement from Prime Minister Shehbaz Sharif's office said he held talks with the delegation from U.S. Strategic Metals and Mota-Engil over Pakistan's copper, gold, rare earths, and other mineral resources.
The sides expressed readiness to develop value-added facilities, enhance mineral processing capacity, and undertake large-scale projects tied to mining, the statement said.
"The partnership will begin immediately with the export of readily available minerals from Pakistan, including antimony, copper, gold, tungsten, and rare earth elements," it added.
The U.S. embassy in Pakistan said in a statement: "This signing is yet another example of the strength of the U.S.-Pakistan bilateral relationship that will benefit both countries."
Earlier this year, Sharif claimed that Pakistan possesses mineral reserves worth trillions of dollars, and foreign investment in the mineral sector could help the country overcome its prolonged financial crisis and free itself from the burden of massive foreign loans.
Most of Pakistan's mineral wealth is located in the insurgency-hit southwestern Balochistan province, where separatists have opposed the extraction of resources by Pakistani and foreign firms.
In August, the U.S. State Department had designated the Balochistan National Army separatist group and its fighting wing, the Majeed Brigade, as a foreign terrorist organization.
Oil and minerals reserves have also been found in the southern Sindh, eastern Punjab and northwestern Khyber Pakhtunkhwa bordering Afghanistan.
Several companies have already signed agreements with Pakistan in the mining sector. They included the Canadian firm Barrick Gold, which already owns a 50% stake in the Reko Diq gold mine in Balochistan.
Manufacturing Business Technology
factory
08 September 20252 min readU.S. Metals Company Signs $500M Investment Deal With Pakistan
Manufacturing Business Technology
08 September 2025
factory
Unitree Robotics Targets $7 Billion Valuation In Planned IpoHONG KONG—Chinese robotics firm Unitree Robotics is preparing for an initial public offering that could value the company at up to 50 billion yuan ($7 billion), according to sources familiar with the matter.
Unitree, which gained international attention for its humanoid robots capable of walking, climbing, and carrying loads, confirmed last week that it is advancing IPO preparations and expects to submit listing documents in the fourth quarter.
Founded by Wang Xingxing, the company has emerged as one of China’s most high-profile startups. If completed, Unitree’s listing would be among the largest onshore tech IPOs in recent years and comes as China steps up efforts to bolster its domestic champions in robotics, semiconductors, and AI amid intensifying competition with the United States.
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Hitachi Pledges $1 Billion U.S. Energy Infrastructure Manufacturing InvestmentHitachi Energy, a wholly owned subsidiary of Hitachi, announced an investment of more than $1 billion to expand the production of electrical grid infrastructure in the United States. These investments include approximately $457 million for a new large power transformer facility in South Boston, Virginia, along with significant expansions of existing facilities throughout the country.
This facility will be built alongside Hitachi Energy’s existing campus and will be the largest manufacturing site for large power transformers in the United States. This facility alone will create more than 825 new jobs in Southside Virginia, offering long-term employment opportunities in engineering, advanced manufacturing, and operations roles.
These projects are part of a more than $9 billion USD global investment program, the largest in the industry, under which Hitachi Energy is expanding its manufacturing capacity, R&D, engineering, and partnerships to power the world’s energy system to be more reliable, secure, and resilient.
Manufacturing Net
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05 September 20251 min readHitachi Pledges $1 Billion U.S. Energy Infrastructure Manufacturing Investment
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Siemens Energy Invests €220 Million In German Transformer FactorySiemens Energy is investing approximately €220 million to expand its transformer factory in Nuremberg, Germany, creating 350 new jobs. The foundation stone for the site expansion was laid today in the presence of Bavaria’s Minister President Dr. Markus Söder and Nuremberg’s Mayor Marcus König. With this investment, Siemens Energy is responding to the sharp increase in global demand for large transformers which are crucial for grid expansion.
Currently, Siemens Energy employs nearly 1,000 people at the factory in Nuremberg, where transformers have been manufactured since 1912. Due to rising demand, the facility will be expanded by around 16,000 square meters, increasing production capacity by approximately 50 percent. Construction will take place while operations at the factory continue, with the new production areas expected to be available by 2028. The Free State of Bavaria is supporting the expansion with up to €20 million in technology funding - aiming to sustainably strengthen Nuremberg as a hub for innovation, research, and development.
Dr. Markus Söder, Bavarian Minister President: “Nuremberg is becoming a hub for the energy transition: With an investment of €220 million, Siemens Energy is creating 350 modern jobs in a place that has been successfully shaping energy history for over a century. We are investing up to €20 million in research and development for this project alone. Thus, we are creating a climate for an economically friendly future, secure jobs, and environmentally friendly technologies. Transformers and converters from Nuremberg are essential for secure power grids and an important building block for the energy transition. Siemens Energy's technology is a prerequisite for successful climate policy – and the Free State is doing everything in its power to promote the transformation. Only with forward-looking and courageous policies will we be able to master today's challenges and thereby secure tomorrow's prosperity. Without industry, Germany has no chance as a business location. Siemens companies have been rooted in Nuremberg for over 100 years – a location with tradition, innovation, and international appeal. Congratulations to everyone involved in today's groundbreaking ceremony. A future full of energy is emerging in Nuremberg!”
“Germany remains attractive when business and politics take responsibility together,” says Christian Bruch, CEO of Siemens Energy. “Siemens Energy has 113 years of experience in transformer manufacturing in Nuremberg, highly qualified employees with the necessary expertise, and strong infrastructure. These are the right conditions to continue delivering key technologies for the energy transition from Germany to the world.”
Transformers are located at nearly every node of the power grid, connecting different voltage levels and enabling electricity to be transmitted over long distances. The transformers produced in Nuremberg are used worldwide in major energy infrastructure projects - for example, to connect large offshore wind farms, stabilize power grids, or support international electricity links that enable energy exchange between countries.
Last year, Siemens Energy announced a €90 million investment at the same site for a new converter production facility. In total, Siemens Energy has invested around €1 billion in Germany over the past three years. In 2024, the company created approximately 1,300 new jobs in Germany, with up to 1,500 more expected by the end of 2026
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05 September 20253 min readSiemens Energy Invests €220 Million In German Transformer Factory
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Angola Inaugurates $500 Million Cabinda Oil RefineryAngola marks the inauguration of its Cabinda oil refinery today. The Cabinda Oil Refinery will put the country on track to nearly double its capacity and cut expensive imports. This information was reported by Angolan news agency Angop.
After several delays, the Cabinda Oil Refinery finished construction works of the first phase of the industrial unit. Furthermore, the production and sale of fuels is set to commence in around three months.
Location: Malembo Plain, Cabinda Province
Developers: A joint venture between Gemcorp Holdings which holes a 90% stake and Sonangol which holds 10% stake.
Project phases and capacity
Phase 1:
Phase 2:
The initial capacity of 30,000 barrels per day (bpd) of diesel and jet fuel represents approximately 10 percent of Angola’s current requirement.
Also, as for the second phase, it will see the import of diesel to ensure alignment with full production capacity, eventually reaching 60,000 bpd. Additionally, this will nearly double the current capacity of 65,000 bpd from the Luanda refinery.
Furthermore, Cabinda refinery is a public-private partnership between UK-based Gemcorp and Sonango, Angola’s state-owned oil company. The two companies share governance under the supervision of Angola’s Ministry of Mineral Resources, Petroleum and Gas.
Construction of the Cabinda Oil Refinery began in 2019 with tree-clearing, earth-moving and demining. Also, the project was a critical step in a country still riddled with landmines from decades of conflict.
Gemcorp completed that work the following year but the Covid-19 pandemic, along with the confounding complexities typical of such projects, led to frequent delays.
Construction of this project created over 3,300 jobs. Most of these jobs most went to Angolans. Furthermore, worker training aims to prepare 5,000 Angolans for refinery-related jobs in mechanics, electrical work, welding and IT.
Phase one of the Cabinda Oil Refinery was backed by multiple African financial institutions. Africa Finance Corporation (AFC) managed to mobilize $335 million and a another $138 million raised through equity sponsors.
The oil refinery project was originally estimated at US$473 million. However, due to Covid-related delays and inflation pushed the cost to more than $500 million as of last October, when inauguration was set for April 2025.
Additionally, funding for the second phase, expected to come online 18 months to two years after phase one, had not been finalised at that time. Also, Gemcorp founder and CEO Atanas Bostandjiev revealed to Reuters that he expected a final decision on that after the plant opened.
Furthermore, the executive stressed the need for local refining, as Angola “imports almost 100 percent of its refined products from Europe.” Those imports amount to over US$2 billion annually. Therefore, this underscores the need for a more efficient, financially sustainable alternative. These alternatives include development of new refineries such as the Lobito refinery.
Construction Review
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01 September 20253 min readAngola Inaugurates $500 Million Cabinda Oil Refinery
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