Tesco to acquire Booker Group
John Colley, a Professor of Practice at Warwick Busines...
Tesco is planning to buy Booker Group, the owner of Budgens and Londis, for £3.7 billion.
John Colley, a Professor of Practice at Warwick Business School and an expert on mega mergers, released the following comment:
"Tesco CEO Dave Lewis clearly believes the job is done at Tesco and it's time to chase growth by diversifying into the restaurant market. This comes shortly after disposing of the Giraffe group of restaurants.
"The acquisition also increases their position in convenience stores and the distribution which goes with it. Undoubtedly the Competition and Markets Authority will have a good look and may well require disposals. That could be a protracted affair which will be a significant distraction for both businesses.
"Richard Cousins, CEO of Compass, appears to have departed the Tesco board as a consequence of this deal. Compass has 'stuck to what it knows' very successfully and shunned diversification as their shareholders will agree.
"Tesco seems to be chasing distractions before the job is finished in the supermarket grocery business. The UK supermarket industry is likely to remain highly competitive for a long time to come.
"Aldi and Lidl will not be changing their strategies which means that the super profits the industry was achieving are gone for good. Tesco, with 28 percent of the grocery market, is everyone's target. Dave Lewis would do well to focus on continuing the recovery at Tesco."
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Ultium Cells LLC/Li-Cycle: Sustainable Battery Manufacturing
Ultium Cells LLC - a joint venture between General Motors and LG Energy Solutions - has announced its latest collaboration with Li-Cycle. Joining forces the two have set ambitions to expand recycling in North America, recycling up to 100% of the scrap materials in battery cell manufacturing
What is Ultium Cells LLC?
Announcing their partnership in December 2019, General Motors (GM) and LG Energy Solutions established Ultium Cells LLC with a mission to “ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute [to the] expansion of a Zero Emission propulsion on a global scale.”
Who is Li-Cycle?
Founded in 2016, Li-Cycle leverages innovative solutions to address emerging and urgent challenges around the world.
As the use of Lithium-ion rechargeable batteries in automotive, industrial energy storage, and consumer electronic applications rises, Li-Cycle believes that “the world needs improved technology and supply chain innovations to better recycle these batteries, while also meeting the rapidly growing demand for critical and scarce battery-grade materials.”
Why are Ultium Cells LLC and Li-Cycle join forces?
By joining forces to expand the recycling of scrap materials in battery cell manufacturing in North America, the new recycling process will allow Ultium Cells LLC to recycle cobalt, nickel, lithium, graphite, copper, manganese and aluminum.
“95% of these materials can be used in the production of new batteries or for adjacent industries,” says GM, who explains that the new hydrometallurgical process emits 30% less greenhouse gases (GHGs) than traditional processes, minimising the environmental impact. Use of this process will begin later in the year (2021).
"Our combined efforts with Ultium Cells will be instrumental in redirecting battery manufacturing scrap from landfills and returning a substantial amount of valuable battery-grade materials back into the battery supply chain. This partnership is a critical step forward in advancing our proven lithium-ion resource recovery technology as a more sustainable alternative to mining, " said Ajay Kochhar, President, CEO and co-founder of Li-Cycle.
"GM's zero-waste initiative aims to divert more than 90% of its manufacturing waste from landfills and incineration globally by 2025. Now, we're going to work closely with Ultium Cells and Li-Cycle to help the industry get even better use out of the materials,” added Ken Morris, Vice President of Electric and Autonomous Vehicles, GM.
Since 2013, GM has recycled or reused 100% of the battery packs it has received from customers, with most current GM EVs repaired with refurbished packs.
"We strive to make more with less waste and energy expended. This is a crucial step in improving the sustainability of our components and manufacturing processes,” concluded Thomas Gallagher, Chief Operating Officer, Ultium Cells LLC.