Latest news with #Sierra
Telegraph
a day ago
- Automotive
- Telegraph
UK's rarest cars: 1989 Ford Granada Mk3 Ghia 4x4, the only one left
Some of the cars in this series covering fast-disappearing models have the power to make certain writers feel incredibly old – such as when realising the third-generation Granada is now 40 years old. Even more startling is that this Ghia 4x4 offered for sale by Martin Howey Classics is believed to be the sole roadworthy example. The Granada Mk3 debuted in April 1985. To motorists used to the Mk2's crisp-cut looks that at a glance resembled an enlarged Cortina, the latest model's 'jelly mould' styling was somewhat of a shock. In addition, Ford sold it only in five-door (hatchback) guise, when the Mercedes-Benz W124, Vauxhall Carlton and Volvo 700-series were more conventional 'three-box' saloons. Ford could argue that the Rover SD1 was a five-door rival, but that was coming to the end of its life. The new Granada represented as much a challenge to dealers as the Sierra had in 1982 when it replaced the Cortina. The Telegraph wondered 'how traditional Granada customers will take to the blandly aerodynamic hatchbacks. Are they sufficiently 'dignified' for business customers?' At that time, a poll suggested that 82 per cent of managers had some choice over their company car. There was a risk of such motorists defecting to the Carlton, but the Mk3 Granada at least retained its familiar name in the UK and Ireland. In mainland Europe, it was named the Scorpio after Ford rejected Lugano, a brand even less likely to appeal to a Weybridge insurance broker. For this country, Scorpio was the ultimate trim level, ranking above even Ghia. Ford hailed the Mk3 as setting standards 'by which other executive-class cars must be judged'. Motor believed the new Granada's chassis 'can stand comparison with the best' and it was Car of the Year 1986, beating the Lancia Y10 supermini from Italy and the W124 German saloon rival. And Ford sold the Granada Mk3 with the promise of 'high technology'. It was the first mass-produced European car with ABS anti-lock brakes as standard on all versions. Furthermore, 'appreciating the business world's fast-growing need for ultra-modern, Ford decided to introduce a cellular radio-telephone option on the new Granada'. This car was designed with four-wheel-drive in mind from the outset. In September 1985, Ford announced the Ghia and Scorpio 4x4. This newspaper reported Ford believed four-wheel-drive would appeal to senior executives who would appreciate its ability to keep the Granada mobile 'under all conditions'. The 4WD system was mechanically identical to that of the Sierra XR4x4, with an epicyclic centre differential splitting power between 34 per cent to the front wheels and 66 per cent to the rear. The differential speed action was automatically controlled. The 4x4 models also had modified suspension and larger wheels. The Telegraph found the Granada 4x4 'impressively safe and stable, if a little ponderous' but thought the lighter Sierra 4x4 'more fun to drive, feeling nimbler and more responsive'. Autocar seemed more taken with the larger Ford, comparing its road manners to 'Jaguar's superb achievement in the ride handling compromise of the XJ'. Motor regarded the Granada 4x4 as 'extremely safe and very impressive' and more satisfying to drive hard than the Audi 200 Turbo Quattro. It also contended it needed more power, thus in 1987 Ford replaced the long-established 2.8-litre V6 engine with a 2.9-litre unit. The sales copy aimed at the Yuppie market: 'It'll be quite a success in the City.' The 4x4's top speed was 126mph, with 0-60 in 8.9sec. By 1989, the Ghia 4x4 cost £20,920 compared with £30,929 for the Audi 200 Turbo Quattro, £20,443 for the Rover Vitesse and £20,904 for the Vauxhall Senator 3.0i CD. A Ghia 4x4 owner would naturally expect electric windows, central locking adjustable steering, a sliding roof 'with louvred blind' and alloy wheels. Not to mention 'heated front seats trimmed in luxurious Astral fabric'. A major facelift in 1994 included the demise of the Granada name; the latest Scorpio had frontal treatment resembling a guppy in receipt of bad news. Production ended in 1998 after about 850,000 units. By then, the market for large cars from a 'non-prestige' marque was rapidly diminishing. The Mk3 Granada/Scorpio was to be the last such Ford. In retrospect, Ford's decision not to introduce a four-door saloon option until the 1990 model year and an estate until 1991 was a mistake. Forty years ago, such versions would have broadened the Mk3's appeal and probably have found more favour with its customer base than the hatchback. Yet, this ultra-rare Ghia is a testament to Ford of Europe's sheer ambition: a mass-production hatchback with four-wheel-drive and anti-lock brakes. And as Motor put it, testers could drive the Granada 4x4 'so quickly and safely in such abysmal conditions'.
USA Today
2 days ago
- Automotive
- USA Today
General Motors commits $888 million to build next-gen V-8 engine in New York
General Motors commits $888 million to build next-gen V-8 engine in New York Show Caption Hide Caption General Motors: History, innovation, and legacy Learn about the rich history and notable innovations of General Motors, from its founding in 1908 to its leadership in electric and autonomous vehicle technology. Retooling for the next generation engine will take two years, the company said, meaning the fifth generation engine will continue to be produced in New York until 2027. The company needs to continue producing the older V-8 engine to address manufacturing issues currently under federal investigation. General Motors is investing $888 million in its New York propulsion assembly plant to produce the next generation V-8 engine, the company said May 27. GM said it is the automaker's largest ever investment in an engine plant and the latest adjustment to electric vehicle production. GM previously announced a $300 million investment to retool Tonawanda Propulsion near Buffalo, New York, to produce electric vehicle drive units. Outside New York, GM produces small block V-8 engines for its full-size trucks and SUVs at two other locations ― Flint, Michigan, and Toluca, Mexico, according to its website. Retooling for the next generation engine, its sixth, will take two years, the company said, meaning the fifth generation engine will continue to be produced in New York until 2027. New York Gov. Kathy Hochul said in a news release celebrating the investment that the project will support 870 jobs at Tonawanda Propulsion, including 177 jobs deemed at risk. The state plans to provide up to $16.96 million in tax credits in return for investment commitments. The announcement is the latest production change GM has made, often citing 'marketplace changes.' GM said April 23 that it planned to expand transmission production at its Toledo (Ohio) Propulsions Systems plant where it builds transmissions used in the Silverado and Sierra pickup trucks, while reducing electric drive unit production. More from GM: General Motors revamps credit card, changes GM Rewards program to add discounts The company also laid off 200 employees at its Factory Zero in Detroit and Hamtramck, Michigan, in April to ensure production will 'align with market dynamics.' Neither move was tariff-related, the company confirmed. Adds on investment in Michigan The investment announced May 27 builds on a $579 million commitment to construct the same engine in Flint. A company spokesman said in 2023 following that announcement that the transition requires significant changes to the assembly line. 'With all of the renovation work that needs to be done to prepare Flint Engine to build the company's sixth generation V-8 engine, GM will continue to produce Gen 5 V-8 engines for several years,' the spokesperson said. It is not unusual to have multiple plants produce the same engines given the advantages associated with streamlining production, according to Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. GM builds its heavy-duty Chevrolet Silverado and GMC Sierra pickups at Flint Assembly. A spokesperson said engines produced in Buffalo feed vehicle production at Fort Wayne Assembly, Indiana; Arlington Assembly, Texas; Wentzville, Missouri; Oshawa, in Canada; Bowling Green, Kentucky, and overflow to Flint Assembly. The next generation Silverado is not expected to arrive before 2027, likely in line with the newest V-8 generation, Fiorani told the Detroit Free Press. 'Investments this large means those plants will be around for a while. You can't spend half a billion ― or nearly a billion ― on a plant and have it go away in a couple years,' he said. 'This guarantees production will continue for years, as it takes that much time for a return on that size of investment. We're likely to see V-8s well into the 2030s.' Already facing manufacturing issues In addition to adequate retooling time, there's another reason why GM will continue producing the fifth-generation V-8 for a while, Fiorani added: The company needs to continue producing the older V-8 engine to address manufacturing issues currently under investigation from the National Highway Traffic Safety Administration. GM opted to voluntarily recall about 721,000 vehicles worldwide for defective internal engine parts ― the crankshaft and connecting rods ― damaged during the manufacturing process. Any vehicle engines that don't pass inspections at the dealership level will need to be replaced. Models impacted include Cadillac Escalade and Escalade ESV; Chevy Silverado 1500, Suburban, and Tahoe; and GMC Sierra 1500, Yukon, and Yukon XL produced for 2021–24 model years. Jackie Charniga covers General Motors for the Free Press. Reach her at jcharniga@
Yahoo
3 days ago
- Business
- Yahoo
Alpayana Requisitions a Shareholder Meeting of Sierra to Acquire the Remaining Sierra Shares and Replace the Board of Directors
LIMA, Peru, May 28, 2025 /CNW/ - Alpayana S.A.C. ("Alpayana") announces today that it has requisitioned a meeting of shareholders (the "Meeting") of Sierra Metals Inc. ("Sierra") under Section 143 of the Canada Business Corporations Act for the following purposes: i. to approve a second step business combination transaction pursuant to which Alpayana will complete the privatization of Sierra and acquire all of the issued and outstanding common shares of Sierra (the "Sierra Shares") that it does not already own (the "Subsequent Acquisition Transaction"); ii. to remove the six incumbent directors of Sierra, being Miguel Aramburu, Ernesto Balarezo, Wendy Kaufman, Roberto Maldonado, Robert Neal and Beatriz Orrantia, as well as any directors who may be appointed to the Board of Directors of Sierra (the "Board") prior to the Meeting; iii. to set the size of the Board at three directors; and iv. to elect three new directors to the Board, being Fernando Arrieta (CEO, Alpayana), José Cúneo (Partner, Payet, Rey, Cauvi, Peآrez Abogados) and Dustin Perry (CEO, President and Director, Kingfisher Metals Corp.). Alpayana has requested that Sierra call the Meeting by June 3, 2025, and that such Meeting be held no later than July 29, 2025. Alpayana expects that Sierra will promptly call the Meeting and work with Alpayana and its counsel to prepare the management information circular for such Meeting, as Sierra is required pursuant to applicable Canadian laws and the rules of the Toronto Stock Exchange ("TSX") to hold its annual meeting of shareholders by June 30, 2025, and it has not yet done so. Alpayana has also requested that Sierra set June 23, 2025 as the record date for Sierra shareholders entitled to receive notice of and entitled to vote at the Meeting, and that Sierra permit in-person attendance by Sierra shareholders at the Meeting in accordance with corporate governance best practices and guidance. Alpayana was forced to requisition this Meeting as Sierra's management team and Board have been uncooperative in facilitating the transition of management and control to Alpayana following Alpayana's hugely successful take-over bid of Sierra. Alpayana currently owns an aggregate of 202,768,502 Sierra Shares, representing 93.82% of the issued and outstanding Sierra Shares and intends to acquire the remaining issued and outstanding Sierra Shares pursuant to the Subsequent Acquisition Transaction. Following the completion of the Subsequent Acquisition Transaction (which is expected to close shortly following the Meeting), Alpayana intends to cause Sierra to apply to the TSX to delist the Sierra Shares from the TSX and, if permitted by applicable law, cause Sierra to cease to be a reporting issuer (or equivalent) under applicable Canadian securities laws. In accordance with Peruvian securities laws, Alpayana will also launch a local public tender for the number of issued and outstanding shares of Sociedad Minera Corona S.A. that are required to be acquired under Peruvian securities laws, at the price to be established in accordance with such regulations. SHAREHOLDER QUESTIONS Sierra shareholders who have questions about the Meeting or Alpyana's take-over bid of Sierra, may contact Shorecrest Group, the Depositary and Information Agent for the take-over bid, by telephone at 1-888-637-5789 (North American Toll-Free Number), 647-931-7454 (outside North America) or by email at contact@ ABOUT ALPAYANA Alpayana Canada Ltd. ("Alpayana Canada") is a Canadian wholly-owned subsidiary of Alpayana and was incorporated for the sole purpose of making the offer to purchase all of the issued and outstanding Sierra Shares. Alpayana is a family-owned private mining company committed to the development and promotion of sustainable and responsible mining. It strives to leave a positive and meaningful legacy by prioritizing the wellbeing of its employees, the communities it impacts and the environment. Alpayana has been operating mines in Peru for over 38 years, has a successful M&A track record, and experience in developing projects with discipline and with a view on long-term intrinsic value. Alpayana has revenues in excess of US$500 million and a robust balance sheet. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This document contains "forward-looking statements" (as defined under applicable securities laws). These statements relate to future events and reflect Alpayana Canada's and Alpayana's expectations, beliefs, plans, estimates, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements include, but are not limited to, statements regarding Alpayana's intentions with respect to acquiring the remaining Sierra Shares, the Meeting, the removal of the incumbent directors and election of new directors to the Board, the Subsequent Acquisition Transaction, the delisting of Sierra Shares from the TSX and Sierra ceasing to be a reporting issuer. Such forward-looking statements reflect Alpayana Canada and Alpayana's current beliefs and are based on information currently available. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions (including slowing economic growth, inflation and rising interest rates) and the dynamic nature of the industry in which Alpayana operates. Although the forward-looking information contained in this document is based upon what Alpayana Canada and Alpayana believe are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this document are made as of the date of this document and should not be relied upon as representing views as of any date subsequent to the date of this document. Except as may be required by applicable law, Alpayana Canada and Alpayana do not undertake, and specifically disclaim, any obligation to update or revise any forward-looking information, whether as a result of new information, further developments or otherwise. SOURCE Alpayana S.A.C. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
3 days ago
- Business
- Cision Canada
Alpayana Requisitions a Shareholder Meeting of Sierra to Acquire the Remaining Sierra Shares and Replace the Board of Directors
LIMA, Peru, May 28, 2025 /CNW/ - Alpayana S.A.C. (" Alpayana") announces today that it has requisitioned a meeting of shareholders (the " Meeting") of Sierra Metals Inc. (" Sierra") under Section 143 of the Canada Business Corporations Act for the following purposes: i. to approve a second step business combination transaction pursuant to which Alpayana will complete the privatization of Sierra and acquire all of the issued and outstanding common shares of Sierra (the " Sierra Shares") that it does not already own (the " Subsequent Acquisition Transaction"); ii. to remove the six incumbent directors of Sierra, being Miguel Aramburu, Ernesto Balarezo, Wendy Kaufman, Roberto Maldonado, Robert Neal and Beatriz Orrantia, as well as any directors who may be appointed to the Board of Directors of Sierra (the " Board") prior to the Meeting; iii. to set the size of the Board at three directors; and iv. to elect three new directors to the Board, being Fernando Arrieta (CEO, Alpayana), José Cúneo (Partner, Payet, Rey, Cauvi, Peآrez Abogados) and Dustin Perry (CEO, President and Director, Kingfisher Metals Corp.). Alpayana has requested that Sierra call the Meeting by June 3, 2025, and that such Meeting be held no later than July 29, 2025. Alpayana expects that Sierra will promptly call the Meeting and work with Alpayana and its counsel to prepare the management information circular for such Meeting, as Sierra is required pursuant to applicable Canadian laws and the rules of the Toronto Stock Exchange (" TSX") to hold its annual meeting of shareholders by June 30, 2025, and it has not yet done so. Alpayana has also requested that Sierra set June 23, 2025 as the record date for Sierra shareholders entitled to receive notice of and entitled to vote at the Meeting, and that Sierra permit in-person attendance by Sierra shareholders at the Meeting in accordance with corporate governance best practices and guidance. Alpayana was forced to requisition this Meeting as Sierra's management team and Board have been uncooperative in facilitating the transition of management and control to Alpayana following Alpayana's hugely successful take-over bid of Sierra. Alpayana currently owns an aggregate of 202,768,502 Sierra Shares, representing 93.82% of the issued and outstanding Sierra Shares and intends to acquire the remaining issued and outstanding Sierra Shares pursuant to the Subsequent Acquisition Transaction. Following the completion of the Subsequent Acquisition Transaction (which is expected to close shortly following the Meeting), Alpayana intends to cause Sierra to apply to the TSX to delist the Sierra Shares from the TSX and, if permitted by applicable law, cause Sierra to cease to be a reporting issuer (or equivalent) under applicable Canadian securities laws. In accordance with Peruvian securities laws, Alpayana will also launch a local public tender for the number of issued and outstanding shares of Sociedad Minera Corona S.A. that are required to be acquired under Peruvian securities laws, at the price to be established in accordance with such regulations. SHAREHOLDER QUESTIONS Sierra shareholders who have questions about the Meeting or Alpyana's take-over bid of Sierra, may contact Shorecrest Group, the Depositary and Information Agent for the take-over bid, by telephone at 1-888-637-5789 (North American Toll-Free Number), 647-931-7454 (outside North America) or by email at [email protected]. ABOUT ALPAYANA Alpayana Canada Ltd. (" Alpayana Canada") is a Canadian wholly-owned subsidiary of Alpayana and was incorporated for the sole purpose of making the offer to purchase all of the issued and outstanding Sierra Shares. Alpayana is a family-owned private mining company committed to the development and promotion of sustainable and responsible mining. It strives to leave a positive and meaningful legacy by prioritizing the wellbeing of its employees, the communities it impacts and the environment. Alpayana has been operating mines in Peru for over 38 years, has a successful M&A track record, and experience in developing projects with discipline and with a view on long-term intrinsic value. Alpayana has revenues in excess of US$500 million and a robust balance sheet. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This document contains "forward-looking statements" (as defined under applicable securities laws). These statements relate to future events and reflect Alpayana Canada's and Alpayana's expectations, beliefs, plans, estimates, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements include, but are not limited to, statements regarding Alpayana's intentions with respect to acquiring the remaining Sierra Shares, the Meeting, the removal of the incumbent directors and election of new directors to the Board, the Subsequent Acquisition Transaction, the delisting of Sierra Shares from the TSX and Sierra ceasing to be a reporting issuer. Such forward-looking statements reflect Alpayana Canada and Alpayana's current beliefs and are based on information currently available. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions (including slowing economic growth, inflation and rising interest rates) and the dynamic nature of the industry in which Alpayana operates. Although the forward-looking information contained in this document is based upon what Alpayana Canada and Alpayana believe are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this document are made as of the date of this document and should not be relied upon as representing views as of any date subsequent to the date of this document. Except as may be required by applicable law, Alpayana Canada and Alpayana do not undertake, and specifically disclaim, any obligation to update or revise any forward-looking information, whether as a result of new information, further developments or otherwise.
Engadget
3 days ago
- Entertainment
- Engadget
Discord launches a virtual currency
Going on a quest to gather orbs sounds like a magical journey. Images of old-school Sierra adventure games come to mind. Well, bad news. In this case, it's a virtual currency earned by being a captive audience for advertisers on Discord. Welcome to 2025, baby! Currently in beta, Orbs are Discord's latest addition to its Quests. That's the company's system that lets advertisers launch interactive challenges. These can be things like watching promotional videos or playing games. You aren't watching an ad, silly. You're venturing out on a Video Quest!! Godspeed. If you choose to be a Quest test subject, you can spend your Orbs in several ways. Discord Nitro credits could be a popular redemption option. You can also trade Orbs for profile cosmetics and first-party shop items. Unfortunately, you can't exchange them for real money. Nor can you spend them anywhere outside of Discord. Before today, Quest advertisers were limited to offering their own rewards. However, they can still do that. The new virtual currency is merely another option. Orbs are launching in a limited beta, so you may not have access yet. They're also desktop-only (app and browser), at least for now. You can find Quests by heading to Discover > Quests on Discord. Once you have access to Orbs, you can claim them in the Direct Messages > Shop section.
