Latest news with #KristenMichal
Cision Canada
3 days ago
- Business
- Cision Canada
Neo Performance Materials Hosts Prime Minister of Estonia at the New Permanent Magnet Facility in Narva
TORONTO, May 29, 2025 /CNW/ - Neo Performance Materials Inc. (" Neo") (TSX: NEO) welcomed the Prime Minister of Estonia to its new European magnet facility in Narva. The Prime Minister was received by Greg Kroll, Neo's EVP for Magnequench, and the team responsible for equipment commissioning and overseeing production for our automotive customers. Neo will host an opening ceremony in September 2025, with the employees who have led this project, customers, government leaders from across the EU, senior diplomats from supply chain partner countries, investors, and media. Prime Minister Kristen Michal wrote on his social media: " We will make decisions that will help Estonia be a country with convenient business operations, few restrictions and a competitive tax system, where the industries of the future can be built. Neo Performance Materials is a good example of where we are heading. Neo Performance Materials is very ambitious and positive, I wish you much success and great ideas for the future!" Neo's EVP for Magnequench, Greg Kroll, said: "The Prime Minister's early visit symbolizes the importance of Neo's establishment of an integrated rare earth separation and magnetics hub in Estonia for European automotive and renewable energy supply chains. We also welcome the commitment to continue partnering with the government to unlock more opportunities and remove barriers for Neo's accelerated growth plan." On time and on budget, Neo continues to achieve significant milestones in the global expansion of its magnetics capabilities. In Phase 1 of its facility expansion, Neo successfully executed a multi-stage production process—from raw materials to final assembly—to deliver a high-performance magnet tailored for a specific traction motor platform. Phases 2 and 3 will continue Neo's growth with expanded and new facilities in Estonia and elsewhere, highlighting Neo's advanced technical and operational strength, driven by a deeply experienced global team. Leveraging over 30 years of rare earth magnetics expertise and cutting-edge lab capabilities, Neo's new facility in Estonia marks a critical step forward in one of the most strategically crucial permanent magnet projects in Europe and globally. This strategy aims to scale magnet manufacturing across Europe and beyond, advancing Neo's mission to build resilient, parallel global supply chains for rare earth magnetics and other critical materials, serving rapidly accelerating markets. About Neo Performance Materials Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, United States; Singapore; and Beijing, China. Neo has a global platform that includes manufacturing facilities in Canada, China, Estonia, Germany, Thailand and the United Kingdom, as well as a dedicated research and development centre in Singapore. For more information, please visit Cautionary Statements Regarding Forward Looking Statements This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Specific forward-looking statements in this news release include, but are not limited to, the completion of construction and commissioning and launch of operations of the facility in Narva; integration of operations of the new facility in Narva, Estonia and Neo's rare earth separation facility in Sillamäe, Estonia; and other matters relating thereto. In making the forward-looking information in this news release, the Company has applied certain factors and assumptions that are based on its current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. There are many risk factors associated with the negotiation and drafting of a definitive offtake agreement and the terms and conditions of such agreement. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to the risks and uncertainties inherent in the nature of the Transaction, including the risks of a material adverse change to the Company's assets or revenues, or risks of unknown liabilities that may arise. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. For more information on Neo, investors should review Neo's continuous disclosure filings that are available under Neo's profile at SOURCE Neo Performance Materials, Inc.
The Print
6 days ago
- Business
- The Print
‘India should use its growing power to push Russia to end aggression in Ukraine'—Estonian PM
Estonia has been one of the biggest supporters of Ukraine since the war with Russia began in February 2022. The Baltic-nation, which is a member of both the European Union (EU) and the North Atlantic Treaty Organisation (NATO), has since increased its own defence spending, planning to cross five percent of its gross domestic product (GDP) by 2026. 'Like-minded countries should be working together. For example, India has growing power in the whole world, economically, but politically also. So we would very much appreciate that India would be pushing Russia towards ending aggression in Ukraine,' Michal said. Tallinn: India should use its 'growing power in the world' to push Russia to end its aggression in Ukraine, Estonian Prime Minister Kristen Michal told ThePrint in an exclusive interaction Friday. The nation of roughly 1.3 million people has been looking to strengthen its ties with New Delhi, focusing on strategic areas, such as cyber security and defence. Since 2007, Estonia, which was once a part of the Union of Soviet Socialist Republics (USSR) has been facing a number of cyber attacks from Russia, which has made the focus on cyber security a key national policy. The Estonian prime minister said: 'On the economical field, as you already mentioned, on AI and cybersecurity, we are already talking to each other. On cybersecurity, Estonia has a long tradition and very strong experiences coming from Russia's cyberattacks against us since 2007. So we have been under constant attacks from Russia's side, and our IT sector was evolving and still is evolving quite rapidly.' Michal added: 'I would say that we [India and Estonia] have many points of cooperation in business side, food and so on, but on the defence, cybersecurity is probably our strongest point that we can work on together because everybody from India can look that Estonia has a very strong IT sector, which is quite unusual because in many countries in Europe, I would say the State is operating on its own, and private sectors are operating also on their own.' Also Read: Expect Turkey to strongly urge Pakistan to end its support to cross-border terrorism, says India Digitalisation & cyber security For the Estonian government, digitalisation has been a key national priority, with the government first introducing its identity card programme in 2002—similar in nature to India's Aadhaar, introduced a few years later. With the country moving towards complete digitalisation of its governance structures, roughly 99 percent of all government services are available through digital portals, which has made cyber security all that more important for the Baltic nation. 'Estonia has this kind of model where we are working together with private companies, and it's working absolutely well. That's why we are so strong… because we have, for example, this kind of cyber defence league in which the private sector is cooperating with the state, and helping fight different cyber attacks, but they also are gaining this kind of knowledge about what is happening in this field. So this is a very vibrant community in Estonia,' Michal pointed out. In March, Jonatan Vseviov, the Estonian Secretary General in the Ministry of Foreign Affairs, had met with India's Defence Secretary Rajesh Kumar Singh in New Delhi, where the two had discussed cyber security, co-production in defence, military training and other niche technologies. In the 1990s, the country, which had then just gained independence, focussed on strengthening its education in the IT sector, introducing the Tiger Leap programme in its schools to expand its digital network and infrastructure with a special focus on schooling. Earlier this year, the Estonian President Alar Karis announced its AI Leap programme, with a focus on niche technology, with a view towards the future of global computing. 'We have a quite ambitious and big plan with AI because starting this year, we will have AI in our school curricula. So that will mean that in two years, one-third of our students and teachers will be learning how to use AI in a smart way. So that will affect our labour market in the future, also businesses and opportunities,' Michal said. The Estonian prime minister added: 'So as you know, Estonian education has very high standards and in the PISA [Programme for International Student Assessment] test we are probably among the top, but we want to be on the next level with this AI jump in Estonia. So that probably could also be the basis of working together [with India].' The reporter was in Tallinn at the invitation of the Ministry of Foreign Affairs of the Government of Estonia. (Edited by Mannat Chugh) Also Read: US imposes visa restrictions on Indian travel agents 'knowingly facilitating illegal immigration'
Time of India
25-05-2025
- Politics
- Time of India
Estonian PM Exclusive: ‘Russia Testing All Democracies But NATO…'
As a border state with Russia and a Nato and EU member, Estonia is particularly concerned about Russia's aggression against Ukraine. Estonia also faces Moscow's hybrid tactics, particularly in the cyber domain. In a special interview with TOI, Estonian PM Kristen Michal says Europe is changing to meet the threats, hopes India will apply pressure on Russia behind the scenes, and pitches for greater cyber security cooperation between New Delhi and Tallinn. Read More
Reuters
18-05-2025
- Business
- Reuters
Estonian PM vows to keep up checks on Russia's 'shadow fleet'
TALLINN, May 18 (Reuters) - Estonia will keep checking Russian "shadow fleet" vessels, Prime Minister Kristen Michal told Reuters on Sunday, days after Russia deployed a SU-35 fighter jet as Estonia attempted to alter the course of one such ship. Estonia said the jet briefly breached NATO airspace during the Baltic country's attempt to inspect a Russian-bound oil tanker, thought to be part of a so-called shadow fleet defying Western sanctions on Moscow over its invasion of Ukraine. Last week's incident "doesn't change a thing", with Estonia determined to continue checking suspicious tankers, Michal said. "I would say that everybody - Estonians, Finns - will be monitoring these kind of ships, and if there's something suspicious we will ask about it. Everybody will do that," Michal said in an interview. Michal said the Estonian Navy had no plans to board the suspect tanker, which then sailed into Russian waters, escorted by the Su-35 and an Estonian patrol boat. Estonia detained another shadow fleet tanker, Kiwala, in April. Russia receives an estimated 60% of its oil revenues via shipments by the "shadow fleet" to buyers in countries such as China and India, according to Estonian estimates. The vessels, which frequently have opaque ownership structures and sail without top-tier Western insurance and safety certification, are often loaded in Russian Baltic Sea ports, approached via the waters between Estonia and Finland. "It's understandable why Russia is getting a little bit nervous," said Michal, saying Russian oil imports should be further limited. "The questions for us - not Estonia, but for Europe and for the United States - is how come Russia is waging the war for the fourth year, and is still selling products on the world market?," he said. Russia views sanctions as an attempt to crush its economy, and has said its ships must have free passage in the Baltic. Estonia, one of the most outspoken critics of Russia in NATO and the European Union, was annexed in the 1940s by the Soviet Union, which agreed with Nazi Germany to carve up the region. For Michal, the only way for Europe to hope for a lasting peace with Russia is to have a strong military. Estonia has pledged at least 5% of GDP for defence to build up its forces, and hopes the larger NATO members will follow suit at a summit in The Hague next month. "Nobody loves governments who raise taxes for defence, but ... you have to do that", Michal said, adding that he hoped U.S. President Donald Trump would raise the threat of new sanctions during a planned call with Russian President Vladimir Putin on Monday. "I hope that he will continue this line, that the pressure is mounting," he said.
Straits Times
18-05-2025
- Business
- Straits Times
Estonian PM vows to keep up checks on Russia's 'shadow fleet'
TALLINN - Estonia will keep checking Russian "shadow fleet" vessels, Prime Minister Kristen Michal told Reuters on Sunday, days after Russia deployed a SU-35 fighter jet as Estonia attempted to alter the course of one such ship. Estonia said the jet briefly breached NATO airspace during the Baltic country's attempt to inspect a Russian-bound oil tanker, thought to be part of a so-called shadow fleet defying Western sanctions on Moscow over its invasion of Ukraine. Last week's incident "doesn't change a thing", with Estonia determined to continue checking suspicious tankers, Michal said. "I would say that everybody - Estonians, Finns - will be monitoring these kind of ships, and if there's something suspicious we will ask about it. Everybody will do that," Michal said in an interview. Michal said the Estonian Navy had no plans to board the suspect tanker, which then sailed into Russian waters, escorted by the Su-35 and an Estonian patrol boat. Estonia detained another shadow fleet tanker, Kiwala, in April. Russia receives an estimated 60% of its oil revenues via shipments by the "shadow fleet" to buyers in countries such as China and India, according to Estonian estimates. The vessels, which frequently have opaque ownership structures and sail without top-tier Western insurance and safety certification, are often loaded in Russian Baltic Sea ports, approached via the waters between Estonia and Finland. "It's understandable why Russia is getting a little bit nervous," said Michal, saying Russian oil imports should be further limited. "The questions for us - not Estonia, but for Europe and for the United States - is how come Russia is waging the war for the fourth year, and is still selling products on the world market?," he said. Russia views sanctions as an attempt to crush its economy, and has said its ships must have free passage in the Baltic. DEFENCE SPENDING BOOST Estonia, one of the most outspoken critics of Russia in NATO and the European Union, was annexed in the 1940s by the Soviet Union, which agreed with Nazi Germany to carve up the region. For Michal, the only way for Europe to hope for a lasting peace with Russia is to have a strong military. Estonia has pledged at least 5% of GDP for defence to build up its forces, and hopes the larger NATO members will follow suit at a summit in The Hague next month. "Nobody loves governments who raise taxes for defence, but ... you have to do that", Michal said, adding that he hoped U.S. President Donald Trump would raise the threat of new sanctions during a planned call with Russian President Vladimir Putin on Monday. "I hope that he will continue this line, that the pressure is mounting," he said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
