Latest news with #Wales-based
Yahoo
17 hours ago
- Business
- Yahoo
Cygnet Gin hires ex-Diageo executive as managing director
UK distiller Cygnet Gin has appointed former Diageo executive Vedran Milosevic as its new global managing director. Milosevic spent more than a decade at Diageo, with his most recent role two years as global commercial director for the company's luxury group unit. In a statement, Cygnet Gin said Milosevic "brings deep commercial acumen, strategic insight, and a passion for luxury execution and building culturally resonant brands". Nick Payne previously held the position of Cygnet managing director and led the brand's initial seeding phase in the UK. Payne left Cygnet in December to join Welsh brewer SA Brains Company as MD. 'We are thrilled to welcome Vedran to our Cygnet family,' chairman Matteo Fantacchiotti said. 'As we prepare for our next stage of growth, particularly in the UK and US, and strategically seed our presence in global luxury cities, knowing Vedran since many years I am very confident his leadership, global mindset and luxury expertise will be instrumental in accelerating our vision and implementation of our plans.' Fantacchiotti, formerly Campari Group chief executive, invested in Cygnet and became chairman in December three months after he unexpectedly resigned from the Aperol maker. Cygnet recently launched its gin in Dubai and Singapore and plans to expand into US cities in the fourth quarter. It has a "secondary focus" on "luxury cities" in Europe and Asia. 'The brand is bold, modern and beautifully crafted, positioned perfectly for a new generation of luxury consumers. I'm looking forward to leading the exceptional team at Cygnet to drive ambitious growth across the world's most influential cities," Milosevic said. Founded by singer Katharine Jenkins and artist and filmmaker Andrew Levitas, Wales-based Cygnet Gin has listings at UK retailers Waitrose and Marks and Spencer. Its products are also available at regional Tesco and Co-Op stores throughout Wales. The company launched its Cygnet 77 gin variant in April, with an initial exclusivity period for UK luxury department store Harrods. The product will enter the on-trade at Hakkasan restaurant in London's Mayfair from 6 June to 10 July. Further listings for Cygnet 77 are due in Singapore and a launch plan is in development for the US in the fourth quarter, the company said. "Cygnet Gin hires ex-Diageo executive as managing director" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business News Wales
3 days ago
- Business
- Business News Wales
KLA's $138 Million Investment Brings New Jobs, Innovation, and Global Opportunity to Newport
Newport is celebrating a major boost to its economy and its future as a technology hub. Newport is celebrating a major boost to its economy and its future as a technology hub, following the recent announcement that KLA Corporation, a global leader in semiconductor process control and enabling technology, has opened a cutting-edge $138 million research and development (R&D) and manufacturing centre in the city. The investment is not just a win for KLA, it's a game-changer for Newport. With space for 750 highly skilled employees, the new 237,000-square-foot facility will create a wave of new job opportunities, helping to strengthen the local workforce, attract top technical talent, and grow Newport's reputation on the international stage as a centre of engineering and manufacturing excellence. KLA's local roots run deep. Its Wales-based product division, SPTS, has been a leader in semiconductor equipment innovation since 1984, winning multiple Queen's Awards for excellence in R&D and export. Now, with this expansion, the company is doubling down on Newport's role in the global semiconductor ecosystem, ensuring that cutting-edge technologies developed here will support industries like advanced packaging, power devices, microelectromechanical systems (MEMS), radio frequency (RF), and photonics. The Newport site features 25,000 square feet of R&D cleanrooms, 35,000 square feet of state-of-the-art manufacturing space, and dedicated customer collaboration and demonstration areas. This will not only enable KLA to meet rising global demand, especially as AI accelerates the need for advanced chips, but it will also serve as a key anchor for Newport's growing electronics and semiconductor community. 'This investment is about more than expanding KLA's capacity, it's about investing in Newport's future,' said Dan Collins, site leader and general manager at KLA. 'We're creating high-quality jobs, advancing technology, and deepening our long-term partnerships with the local community. It's a powerful moment for Newport, and we're excited to play a leading role in shaping what comes next.' Welsh and U.K. government leaders also highlighted the significance of KLA's decision to grow in Newport. 'We have a globally renowned compound semiconductor cluster here in Wales,' said Jo Stevens, Secretary of State for Wales. 'KLA's investment strengthens our position as a leader in this vital and growing industry — driving innovation, economic growth, and opportunity for people here in Newport and beyond.' As KLA opens its doors to a new era of innovation, Newport stands ready to reap the benefits, more jobs, enhanced skills development, and a place on the global map as a city helping to power the technologies of tomorrow.
Business Mayor
26-05-2025
- Business
- Business Mayor
Canadian pension giant to invest more than £8bn in UK
Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Canada's second-largest pension fund plans to invest more than £8bn in the UK over the next five years, in a boost to chancellor Rachel Reeves as she seeks external investment to fund big infrastructure projects. Caisse de dépôt et placement du Québec, which manages C$473bn (£254bn) on behalf of 6mn pension savers, planned to increase its allocation to UK assets by 50 per cent over the next five years, the fund's chief executive Charles Emond told the Financial Times in an interview. 'We'd like to be a partner of trust and choice in the UK,' said Emond, adding that the government's plans to increase infrastructure spending were 'a huge opportunity and we'd like to be there in the early stages to see if we can do something'. He added that the UK would be 'top of the list' compared with many other countries in terms of 'willingness, clarity, transparency, deal mode and execution, seriousness and welcoming us . . . from that perspective they stood out and I think real stuff will come out of it'. CDPQ — one of the world's largest infrastructure investors — currently invests C$32bn (£17bn) in the UK, with assets including stakes in Wales-based electricity generator First Hydro Company and London Array Offshore Wind Farm, located in the Thames Estuary. The fund sold its stake in Heathrow airport late last year after owning it for more than 16 years. Emond, who took the reins at CDPQ in 2020, a year after joining from Scotiabank, said he expected the fund's allocation to Europe more broadly to grow from its current level of 15 per cent of the portfolio to as much as 17 per cent, with new investment focused on assets linked to the energy transition. 'In Europe, energy security matters a lot . . . governments have financial constraints . . . that's where private capital like us can come in,' said Emond. The Montreal-based fund's plan to increase investment in the UK, as well as in France and Germany, comes as it is preparing to rebalance assets away from the US, which currently make up around 40 per cent of its portfolio. The 52-year-old chief executive said the fund's US exposure would probably be 'trimmed a little bit' as it was 'at a peak after a decade of outperformance'. But he added it remained the 'deepest, biggest, closest market to us and we will continue to deploy money there'. Recommended CDPQ's plan to invest more in Britain comes as 17 of the UK's largest defined contribution pension providers have pledged to invest at least 5 per cent of assets in their default funds in British private markets by the end of the decade, a move the government hopes will drive £25bn of investment into the UK. Emond said this commitment from UK pension funds could create a 'positive synergy' and help attract more overseas investment into the UK. He said CDPQ was keen to invest alongside British retirement funds as 'like-minded partners' with local knowledge. The fund currently has C$25bn in France — its second-largest market in Europe — which Emond also expects to increase by 50 per cent by the end of the decade. He added he was investing 'time and effort' in exploring opportunities in Germany, with the country's energy needs and loosened fiscal rules ushering in 'a new beginning there with plenty of opportunities'.
The Citizen
24-05-2025
- Sport
- The Citizen
Grobbelaar eyes domestic success as route into Bok line-up after camp exclusion
Johan Grobbelaar missed the latest Springbok alignment camp along with other top hookers Joseph Dweba and André-Hugo Venter, who all featured in March. Johan Grobbelaar in action for the Springboks against Wales at the Principality Stadium in Cardiff on 23 November 2024. Picture:As the search for a third-choice Springbok hooker widened with the inclusion of Wales-based Marnus van der Merwe in this month's Springbok alignment camp, and Jan-Hendrik Wessels' explosive form, Johan Grobbelaar has kept his mind on club rugby. He sees it as his avenue back into the Springbok line-up while ignoring what could be interpreted as a snub at the camp. The 27-year-old specialist hooker was once seen as the likely understudy to the increasingly injury-hit Malcolm Marx, 30, and the ageing Bongi Mbonambi, 33, particularly with an eye on the 2027 Rugby World Cup. He only has three Test caps, though they came last season (against Australia, Portugal and Wales), and was among the 56 domestic players featuring in 2025's first Bok camp in March. Joseph Dweba and André-Hugo Venter are also in the running for the hooker position and likewise missed the May camp after featuring two months earlier. Grobbelaar focuses on his game While some have seen the omission of certain players as a rejection, Bok boss Rassie Erasmus has always said exclusion does not mean players have fallen out of favour. Instead, their chances of selection for the Springboks are as strong as they were before. When asked about it all on the eve of the alignment camp's player announcement, Grobbelaar turned attention to the domestic season, saying he was happy with his form. The hooker has secured five tries and contributed to the Bulls' forward pack dominance this season. 'All focus is with the Bulls and I want to play my best rugby for the club,' he said. 'We get through the play-offs and then the final – we tick those boxes then selectors will see you. It's important to give yourself the best chance of being selected for that squad as well.' Bulls set to go all the way in the URC The Bulls have been the most consistent South African team in the United Rugby Championship, twice reaching the final and once the quarter-final. They have made mention of their desire to go all the way this time, first needing to beat Edinburgh in the quarter-final at Loftus next weekend. Victory there gives them a home semi-final against the winner between the Sharks and Munster on 7 June. The final will either be played at Loftus or if it's against Leinster, away at Aviva Stadium. The Bulls are on a four-game winning streak and finished the league phase of the URC with their most number of points (68) and most wins (14).
Wales Online
20-05-2025
- Business
- Wales Online
Wealthy businessman steps in to rescue the struggling firm he sold for £36m
Wealthy businessman steps in to rescue the struggling firm he sold for £36m The move could save hundreds of jobs at the firm that is behind the dualling of the Heads of the Valleys road Current Griffiths projects include the final dualling of the Heads of the Valleys road, pictured here (Image: John Myers ) A wealthy businessman has stepped in to help rescue a Wales-based construction contracting company potentially saving hundreds of jobs. It's understood Abergavenny-based businessman 79-year-old Alun Griffiths, who established Griffiths in 1968 and is a popular philanthropist in the area, is in the process of buying back the company he sold to the Tarmac group for £36m in 2018. Griffiths - also known as Alun Griffiths Contractors Ltd - is the construction firm behind the dualling of the Heads of the Valleys road and was also behind the 2010 Ryder Cup golf course in Newport. Earlier this year the firm had failed to file its accounts on time and had previously recorded four years of losses. Results filed at Companies House for 2023 showed a pre-tax loss of £95m. In a statement the company, which employs more than 900 people, said in March its review of market conditions and financial performance had led to discussions of 'proposed changes' with staff, which the Welsh Government described as 'worrying news'. In a new statement the company confirmed its intention for a 'smooth transition' following Mr Griffiths' renewed investment. Article continues below 'Tarmac will continue to work closely with Alun Griffiths Contractors Ltd to ensure there is a smooth transition on a business-as-usual basis,' they said. 'The intention is to refocus the company as a privately owned entity with an emphasis on its established strengths of safety, customer service, engineering excellence and a local geographic presence.' Mr Griffiths was confirmed as a director on May 8 on Companies House. According to Companies House he is being joined by Tim James and Simon Dunn, who both left the business just over a year ago and are returning as managing and deputy managing director. Article continues below Current Griffiths projects include the final dualling of the Heads of the Valleys road and a joint venture to develop Bristol Airport's new £60m transport hub.
