Bobcat Partners with University of North Carolina at Charlotte on Scholarships, STEM Initiatives
CHARLOTTE, N.C.--(BUSINESS WIRE)--In a new partnership with The University of North Carolina at Charlotte's William States Lee College of Engineering, Bobcat Company is supporting the next generation of engineers, supply chain experts and STEM professionals with a $200,000 donation for scholarships for students in the engineering college as well as the Belk College of Business and the College of Computing and Informatics. The partnership will also expand the company's Student Development Program on the UNC Charlotte campus by creating an unmatched workplace for participants and a talent pipeline for students embarking on their careers in North Carolina and beyond.
'We are honored to support the next generation of groundbreaking innovators and engineers,' said Mike Ballweber, president of Doosan Bobcat North America, Inc.
Share
'We are honored to support the next generation of groundbreaking innovators and engineers,' said Mike Ballweber, president of Doosan Bobcat North America, Inc. 'Our collaboration with UNC Charlotte is a gamechanger for both the University and Bobcat, fostering opportunities for the STEM leaders of tomorrow and reinforcing our mission of empowering people to accomplish more.'
For more than a decade, Bobcat's Student Development Program has nurtured high-potential engineering students at premier institutions across the nation by offering part-time work opportunities that support their college education while connecting the Bobcat team with skilled future engineers.
Bobcat's Student Development Program at UNC Charlotte will likewise provide a dedicated workspace for participants, complete with campus workstations. Participating students will also have access to Bobcat professionals and experiential learning through hands-on projects that provide valuable, real-world experiences.
'Bobcat is showcasing how industry and academia can together lead by providing opportunities for the next generation of talent in technology-related fields,' said Rob Keynton, Dean of the W. S. Lee College of Engineering. 'The state of North Carolina has become an engineering hub for a variety of industries that rely on skilled engineers to move innovation forward. This partnership with Bobcat will provide a tremendous opportunity for our students and create a place where a company and college meet and collaborate.'
Bobcat's $200,000 donation to UNC Charlotte will also support scholarships over the next three years for students studying in STEM, supply chain and logistics programs.
The scholarship program and Student Development Program are key aspects of Bobcat's partnership with UNC Charlotte. Beyond these initiatives, Bobcat employees will engage with the university across a range of academic areas through collaborative efforts such as research projects, senior design experiences, classroom and faculty engagement, and emerging partnerships in fields like supply chain management. This partnership reflects a shared commitment to student development, innovation and long-term collaboration in the Charlotte area.
Bobcat has a long history of supporting STEM education and serving the communities where it operates. UNC Charlotte is in close proximity to the Bobcat manufacturing facility in Statesville, North Carolina. In 2022, Bobcat completed a 600,000-square-foot expansion of the Statesville manufacturing, warehouse and distribution complex. The $70 million investment doubled the facility's footprint to nearly 1.2 million square feet and added 62 acres to the current 92-acre campus, making it the company's largest manufacturing campus worldwide. The partnership with UNC Charlotte will also support workforce development for the Statesville facility.
Bobcat started its Student Development Program in North Dakota with North Dakota State University in Fargo and the University of Mary in Bismarck. Since it was launched over a decade ago, more than 135 students have participated in the program, creating a pipeline of skilled engineers, many of whom have joined Bobcat post-graduation.
To learn more about how Bobcat is supporting the growth and development of students, please visit bobcat.com/stem. For more information on UNC Charlotte's engineering college, please visit engr.charlotte.edu.
About Bobcat Company
Bobcat Company empowers people to accomplish more, a mission it has honored since creating the compact equipment industry in 1958. As a leading global manufacturer, Bobcat has a proud legacy of innovation, delivering smart solutions to customers' toughest challenges. Backed by the support of a global dealership network, Bobcat offers an extensive line of worksite solutions, including loaders, excavators, tractors, utility vehicles, telehandlers, mowers, turf renovation equipment, light compaction, portable power, industrial air, forklifts, attachments, implements, parts and services.
With its North American headquarters in West Fargo, North Dakota, Bobcat leads the industry with its innovative offerings designed to transform how the world works, builds cities and supports communities for a more sustainable future. The Bobcat brand is owned by Doosan Bobcat Inc., a company within Doosan Group.
About William States Lee College of Engineering
As North Carolina's urban research university, UNC Charlotte is ranked as a Top 100 Public University by U.S. News. The institution is home to the nationally ranked W.S. Lee College of Engineering, with over 150 faculty and 3,600 students, making it North Carolina's 2nd largest engineering college. The many research awards, including NSF CAREER, Fulbright and NIST Flemming, demonstrate the college's commitment to research and contribute to the university's R1 Carnegie classification in 2025. Learn how W.S.Lee College of Engineering is forging the future.
©2025 Bobcat Company. All rights reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
3 hours ago
- Business Wire
QXO Proposes to Acquire GMS for $95.20 Per Share in Cash
GREENWICH, Conn.--(BUSINESS WIRE)--QXO, Inc. (NYSE: QXO) today sent a proposal to the President and CEO of GMS Inc. (NYSE: GMS) to acquire all outstanding shares of GMS for $95.20 per share in cash. The proposal implies a total transaction value of approximately $5 billion and reflects a 27% premium over GMS's 60-day volume-weighted average price of $74.82. 'Our all-cash proposal to acquire GMS for $95.20 per share delivers immediate and certain value to GMS shareholders at a meaningful premium,' said Brad Jacobs, Chairman and Chief Executive Officer of QXO. 'We believe this is a compelling opportunity for GMS investors to realize the full value of their shares in a single, decisive transaction.' Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as financial advisors to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel. QXO sent the following letter to GMS's President and CEO today outlining the terms and rationale of the proposal: GMS, Inc. 100 Crescent Parkway, Suite 800 Tucker, GA 30084 Attention: John Turner, President and Chief Executive Officer Dear JT, Thank you for taking the time to meet with me in New York last month. I enjoyed our conversation and learning more about GMS, Inc. (' GMS ' or the ' Company '). As you know, we at QXO, Inc. (' QXO ') have been studying GMS for over a year and have developed conviction around our interest in the Company. We are prepared to acquire 100% of GMS in a $95.20 per share all-cash transaction (the ' Transaction '). This letter contains the summary terms of our acquisition proposal (the ' Offer '). Our Offer will deliver immediate cash to GMS shareholders at a compelling valuation. We have no doubt that our Offer will receive widespread support from GMS's shareholders. 1. Investment Thesis and GMS Underperformance Our conviction in acquiring GMS is supported by its attractive positions in wallboard, ceiling tile and steel framing, extensive distribution network and broad exposure to both residential and commercial end markets. Despite the opportunity available to GMS, the Company's financial performance has been underwhelming. The Company's disappointing results have been reflected in your share price performance and public market valuation: GMS's EBITDA declined at a 4.0% annual clip over the last three years, much worse than its peers, 1 which achieved a median annual increase of 4.6% over the same period; GMS's EBITDA margin declined 315 basis points from FY2022-FY2025, to 9.1% from 12.2%, a 26% drop. This compares unfavorably to peers, which reported a median 89 basis points decline in EBITDA margin during this same period; GMS has missed EBITDA, EBIT and EPS estimates for four of the last five quarters, on average missing EBITDA by 7%, EBIT by 25% and EPS by 9% in this period; GMS has underperformed the S&P 500 by nearly 1,900 basis points over the last 12 months; and Sell-side analysts have lost confidence in GMS – the median analyst 12-month price target has been reduced to $80 per share 2 from $105 per share only a year ago. This underperformance has been frustrating for your shareholders. 2. Business Deterioration Since we first met with you in June 2024, GMS's outlook has deteriorated materially. Sell-side analysts expected GMS to deliver EBITDA of $624 million for the 12-month period ending April 2025. Instead, you delivered just $501 million and today sell-side analysts expect you to deliver NTM EBITDA of $496 million. Furthermore, GMS has experienced a sharp decline in performance since then: A 7% reduction in its NTM revenue as a result of soft end-market demand; A 20% reduction in NTM EBITDA as gross margins have contracted across all major product lines; and A 32% reduction in NTM EPS as the overall performance of the business has deteriorated. 3. Compelling Financial Terms of Our Offer Today, we propose to acquire GMS for $95.20 per share in cash. This is a full and compelling offer at the high end of our valuation range. It represents a substantial premium to your intrinsic value. Our Offer is a: 29% premium to the Company's stock price of $73.74 per share as of market close on May 22, 2025, the day you and I met in New York; 27% premium to the Company's 60-day VWAP of $74.82 per share (as of market close on June 18, 2025); 19% premium to the median 12-month sell-side analyst price target of $80.00 per share as of June 18, 2025; and 2.9x premium to GMS's three-year historical average next-twelve-months enterprise value to EBITDA multiple of 7.0x. Notably, we have observed meaningful changes in the volume and trading levels of GMS shares since our announcement to acquire Beacon Roofing Supply, Inc. ('Beacon'), which, in conjunction with what we have heard from public equity investors, indicate to us that GMS's current share price reflects demonstrable takeover speculation. Specifically, GMS's trading volume since the Beacon announcement was more than 50% higher than the average daily trading volume over the twelve months prior. With respect to the takeover speculation in the stock, we also note the steep rise in your share price following our meeting on May 22, 2025, in New York, as well as a research report by Raymond James, which resulted from a non-deal roadshow with you and your CFO, stating that GMS was a likely acquisition target and GMS's management was willing to entertain a sale. Most recently, we have heard from industry participants that J.P. Morgan and Jefferies have been aggressively marketing the Company for sale. Your FQ4 2025 Earnings Release earlier today included an organic revenue decline of 10%, an EBITDA decline of 25% and an EBITDA margin decrease of 220 basis points each compared to the same period last year. GMS also expects FQ1 2026 flat per day volume in single family housing, 25% to 30% declines in multifamily per day volumes and low teen declines in commercial per day volumes. Despite these poor results and macro outlook, you conveniently painted a positive picture that materially moved your stock price, while at the same time you have bankers actively marketing your company. As a result, GMS stock experienced an 11% increase today, its largest single-day dollar increase ever. Even with this rise in the stock price, our Offer represents a 18% premium to today's closing price. 4. High Certainty of Completion Our Offer and our definitive agreement will not have any financing condition or contingency. We have received strong assurances from Goldman Sachs and Morgan Stanley regarding their ability to deliver fully committed financing for the Transaction. We will provide financing commitments in due course. We do not anticipate the Transaction will give rise to any antitrust or other regulatory issues. We believe the Transaction should close in August 2025. 5. Ready to Move Quickly We are prepared to move quickly with two weeks of confirmatory due diligence, including management meetings, while we negotiate definitive transaction documentation. We are prepared to enter into a customary confidentiality agreement so long as it does not contain any standstill provision or 'backdoor' standstill provision that would prevent us from taking the Offer directly to your shareholders, including as a result of us receiving material non-public information. We have retained Goldman Sachs and Morgan Stanley as our financial advisors and Paul, Weiss as our legal counsel. 6. QXO Following the acquisition of Beacon, QXO is now the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. We plan to become the leader in the $800 billion building products distribution industry and generate outsized value for shareholders. We are executing a strategy toward a target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. We have the full support of our Board of Directors to pursue the Transaction. Our leadership team is highly experienced and has a proven track record of building businesses, accelerating growth through investment in technology and building scale through accretive M&A and organic growth. We also have the institutional knowledge and transaction experience to consummate the Transaction expeditiously. 7. Conclusion As we've said before, we don't play games – we're straightforward and we move fast. In that spirit we have put forth a highly compelling offer at the high end of our valuation range. We have the financial capacity and deal expertise to close the Transaction swiftly and with a high level of certainty, and we're willing to commit extensive resources to complete due diligence and negotiate definitive agreements on an accelerated timeframe. Our team and our advisors are standing by. We strongly believe that our Offer is in GMS's and its shareholders' best interests, and we also believe that your employees, vendors and customers will benefit from the significant growth opportunity provided by QXO's platform. To that end we propose that we move forward quickly, and we respectfully request that you respond to the Offer by no later than June 24, 2025. If you choose not to engage with us, or choose to engage in an unconstructive manner, we are prepared to take our Offer directly to GMS's shareholders who we're confident will find the Offer attractive. On behalf of QXO, thank you for your consideration. Sincerely, Ihsan Essaid Chief Financial Officer cc: Brad Jacobs, CEO, QXO Inc. John Gavin, Chairman, GMS, Inc. About QXO QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. The company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit for more information. Cautionary Statement Regarding Forward-Looking Statements The information herein contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets and goals are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as 'may,' 'will,' 'should,' 'expect,' 'opportunity,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'target,' 'goal,' or 'continue,' or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not undertake any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law. 1 Peer group includes the following One-Step Building Products Distribution companies within the peer group used in GMS's annual proxy statement: Beacon, Core & Main, Pool Corporation, SiteOne Landscape Supply, TopBuild and Watsco. EBITDA and EBITDA margin metrics relate to last three years ending CQ1 2025 for peers 2 As of June 18, 2025 as per Bloomberg
Business Upturn
5 hours ago
- Business Upturn
Blue Biofuels Strengthens Intellectual Property Portfolio with Issuance of New U.S. Patent
PALM BEACH GARDENS, FL, June 18, 2025 (GLOBE NEWSWIRE) — Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels is proud to announce the issuance of a new United States patent, further strengthening the company's expanding intellectual property portfolio. This latest patent brings the company's total number of granted patents to seven, with an additional 25 patent applications pending. Together, they form a robust IP foundation that underscores Blue Biofuels' commitment to safeguarding its pioneering biofuel technologies. The newly granted patent marks a significant milestone in the evolution of our proprietary process, which continues to advance in efficiency, scalability, and innovation. As our technology becomes increasingly sophisticated, the importance of securing comprehensive intellectual property protections grows, ensuring that our breakthroughs remain protected as we move toward commercial deployment. Building upon previously issued patents, this latest addition reinforces Blue Biofuels' leadership in the renewable energy sector and highlights our dedication to pushing the boundaries of sustainable fuel innovation. 'This new patent is a testament to the strength and originality of our CTS technology,' said Ben Slager, CEO of Blue Biofuels. 'Each step forward in building our intellectual property portfolio is a step toward securing our competitive advantage as we bring clean, cost-effective biofuels to market. Innovation and protection go hand-in-hand as we scale up.' As we continue to enhance and commercialize our technology, securing the intellectual assets that support our long-term growth and leadership remains a top priority. This new patent further positions Blue Biofuels at the forefront of the domestic clean energy transition. About Blue Biofuels, Inc. Blue Biofuels is based in Florida and has the goal to produce biofuels through its patented Cellulose-to-Sugar (CTS) technology and its licensed Vertimass technology as well as in VertiBlue Fuels, LLC, its 50:50 joint venture with Vertimass. CTS is a sustainable, and renewable green energy system with the potential to achieve a near-zero carbon footprint. The CTS process can convert cellulose from virtually any plant material – grasses, forestry products, and agricultural waste such as sugarcane bagasse and wheat straw — into sugars that are subsequently processed into biofuels, such as ethanol and, through the Vertimass Process, into sustainable aviation fuel. The CTS process is a patented and proprietary technology wholly owned by Blue Biofuels. Blue Biofuels' CTS technology represents significant progress in renewable energy, offering a sustainable solution that reduces reliance on food crops for ethanol production. By utilizing abundant and renewable biomass sources such as king grass, sugar cane bagasse, and corn stover, the company is positioned to contribute meaningfully to the global transition toward cleaner energy. This versatility allows the company to take advantage of feedstock variability in different locations around the US and the world. Special Note Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. The words 'believes', 'may', 'will', 'should', 'would', 'could', 'continue', 'seeks', 'anticipates', 'plans', 'expects', 'intends', 'estimates', or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved. Contact: Ben Slager, CEO and Chairman [email protected]
Business Wire
6 hours ago
- Business Wire
MetLife Investment Management Names Brian Funk President
WHIPPANY, N.J.--(BUSINESS WIRE)--MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has named Brian Funk its president. Funk previously served as interim president and global head of Private Capital for MIM. Funk will be responsible for delivering investment performance and client growth to expand MIM's $616.9 billion in total assets under management (AUM). 1 This includes integrating PineBridge Investments, a global asset manager with approximately $100 billion in AUM, 2 into the firm, upon closing of the acquisition anticipated to occur by the end of 2025. This acquisition will significantly expand MIM's public and private credit offerings and global capabilities. 'Accelerating growth in asset management is a strategic priority for MetLife and a core deliverable of our New Frontier strategy,' said John McCallion, MetLife chief financial officer and head of MIM. 'Brian is the right leader to build on our established positions in credit and real estate and drive performance on behalf of our clients around the world. His industry expertise, deep client relationships and proven leadership make him well-positioned to guide our institutional asset management business through this next chapter of growth.' While serving as interim president, Funk also led MIM's global Private Capital business. The Private Capital team will continue to report to Funk until a successor is named. Under his leadership, the Private Capital team originated $21.6 billion in private credit transactions in 2024. Funk previously served as global head of Credit Research for MIM's Public Fixed Income business. He joined MIM as part of the firm's acquisition of Logan Circle Partners in 2017. As a leader in MIM, he has helped expand product capabilities, including playing a key role in the 2022 acquisition of Affirmative Investment Management, an impact and sustainable investing specialist firm. 'I am honored to step into the role of MIM president and lead our team of 1,100 professionals at such an important moment in the firm's growth trajectory,' Funk said. 'I'm confident we have the scale, expertise and positioning in the market to continue to grow our leading global platform and expand our solution set to make us the partner of choice for institutional investors worldwide.' About MetLife Investment Management MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, small and small-mid cap equities, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of March 31, 2025, had $616.9 billion in total assets under management. For more information, see the total assets under management fact sheet for the quarter ended March 31, 2025 available on MetLife's Investor Relations webpage ( About MetLife MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ('MetLife'), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Asia, Latin America, Europe and the Middle East. For more information, visit Forward-Looking Statements The forward-looking statements in this news release, using words such as 'anticipate,' 'continue,' 'seek,' 'well-positioned' and 'will' are based on assumptions and expectations that involve risks and uncertainties, including the 'Risk Factors' MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife's future results could differ, and it does not undertake any obligation to publicly correct or update any of these statements. Endnotes 1 2 As of Sept. 30, 2024. At estimated fair value.
