Miami Beach Welcomes New, Travel-Worthy Hotels and Experiences

MIAMI BEACH, Fla., Feb. 19, 2021 /PRNewswire/ — Miami Beach, a city like no other place in the world, continues to see growth as the destination continues to welcome new, travel-worthy hotels and experiences for visitors and locals to enjoy.  As travelers look ahead and begin planning future vacations, Miami Beach is perfectly positioned to deliver a variety of perks and amenities through the introduction of new hotels including Moxy South…

MIAMI BEACH, Fla., Feb. 19, 2021 /PRNewswire/ — Miami Beach, a city like no other place in the world, continues to see growth as the destination continues to welcome new, travel-worthy hotels and experiences for visitors and locals to enjoy.  As travelers look ahead and begin planning future vacations, Miami Beach is perfectly positioned to deliver a variety of perks and amenities through the introduction of new hotels including Moxy South Beach, The Goodtime Hotel and Esmé Miami Beach. This trio of new openings offers travelers the opportunity to relax and recharge while indulging in innovative cuisine and experiences.

«As a world-class destination, Miami Beach continues to elevate the traveler experience with the opening of multiple hotels, offering an array of guest packages and deals to deliver a personal and memorable vacation,» says Steve Adkins, Chair, the Miami Beach Visitor and Convention Authority (MBVCA). «We recognize and celebrate these new properties as they welcome new guests to Miami Beach

For those looking for an exciting and dynamic destination, Miami Beach is ready to satisfy all travelers with a plethora of happenings including:

  • Moxy South Beach: Offering a whimsical take of the Miami Beach lifestyle, Moxy South Beach brings sense of adventure to visitors. With indoor-outdoor spaces including a rooftop bar and dining terrace, and experiences like film screenings with an ocean view, guests will have an enjoyable experience. Through June 6, 2021, travelers can use promo code D3Q and receive up to 20% with the hotel’s Stay Longer & Save deal.
  • The Goodtime Hotel is a new, waterfront property that will be located on South Beach. The seven story, 266-room highly anticipated hotel boasts a recording studio, an outdoor workout area, retail space and dining opportunities, featuring indoor and outdoor seating.
  • Esmé Miami Beach: Located on Miami Beach’s famed Española Way, this Spanish-Mediterranean property will feature 145 hotel rooms and five original food & beverage concepts, bringing a new style of chic escapism to Miami Beach this summer. The hotel will feature a rooftop space with four interconnected roof decks activated with a bar, a restaurant and a pool.
  • The Bass Museum continues to attract guests with new additions to their Art Outside program. Miami-based artist Najja Moon will soon install a public sculpture titled ‘Your Mommas Voice in the Back of Your Head’ in Collins Park, which will be on view from March 2021 thru January 2022.
  • Ambersweet at The Confidante Miami Beach is the latest must-try restaurant to indulge on the bold flavors of Miami Beach. Guests will be greeted by rich colors, whimsical art and accents, and a relaxed, elegant vibe – a perfect setting to converse over delicious cuisine and cocktails. Outdoor seating is available.

«These highly-anticipated Miami Beach hotel openings and activities are key to our continuous dedication to providing a destination that’s like no other place in the world,» adds Grisette Marcos, Executive Director, MBVCA. «We look forward to providing unmatched experiences to our first-time and return guests now and in the future.» 

For those planning a vacation to Miami Beach, be sure to follow @ExperienceMiamiBeach on Facebook, Instagram and @EMiamiBeach on Twitter, and download the Miami Beach App at http://www.miamibeachapi.com/app/.

ABOUT MIAMI BEACH

Miami Beach is an award-winning destination, recently awarded World’s Best Lifestyle Destination, Best Leading Destination North America and World’s Leading Tourism Board for the third consecutive year by the World Travel Awards, gold prize under the Cultural and Arts category and silver prizes for Family Destination and Honeymoon Destination categories by Travel Weekly’s Magellan Awards. Additionally, the destination was awarded silver in the 2020 edition of the Travvy Awards, presented by travAlliancemedia, in the categories of ‘Best Tourism Board U.S & Canada,’ ‘Best LGBQT Destination’ and ‘Best Luxury Destination U.S & Canada.» This adds to the wins in the 2019, 2018 and 2017 edition of the Travvy Awards in categories including ‘Best Honeymoon Destination, U.S. & Canada‘, ‘Best Tourism Board U.S. & Canada‘, and ‘Best LGBTQ Destination’. Also named winner in the 2018 Magellan Awards by Travel Weekly in the categories of «Best Overall Honeymoon Destination in the United States and Canada«, «Best Overall Beach Destination in the United States and Canada«, and «Best Overall Spa Destination in the United States and Canada» respectively. Miami Beach is a favorite destination among travelers worldwide. Renowned for its unparalleled culinary offerings, extravagant nightlife, rich culture, luxe shopping and plush hotels, Miami Beach is home to unique museums, the New World Symphony, Miami City Ballet, Miami Beach Convention Center, international festivals and art exhibitions, boat and auto shows, over 187 boutique and resort hotels and 12 public parks; it is no wonder the beautifully diverse city is one of the world’s most popular vacation destinations. Boasting seven miles of breathtaking beaches, Miami Beach is easily accessible from the Port of Miami and Miami International Airport. The City of Miami Beach has been named one of the top cities worldwide for ‘walkability’ and is equally easy to navigate by bike or boat. Known for its year-round sunny skies, the vibrant destination has been ranked by TripAdvisor as a Top Winter Sun Vacation Rental Getaway Destination, Top Romantic Destination, Top 25 Beaches in the World and Top 25 Destinations in the U.S. Miami Beach is like no other place in the world! In 2019, the MBVCA introduced new handles on Instagram and Facebook @ExperienceMiamiBeach and on Twitter @EMiamiBeach to provide visitors with real-time information and recommendations.

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SOURCE Miami Beach Visitor and Convention Authority

BorgWarner Reveals Latest Addition to the Borg-Warner Trophy®: 2020 Indianapolis 500 Winner Takuma Sato

AUBURN HILLS, Mich., Feb. 19, 2021 /PRNewswire/ — Takuma Sato, the first Japanese driver to win the Indianapolis 500 in 2017, is making his mark on history once again by becoming the 107th face to adorn the Borg-Warner Trophy® following his second Indy 500 victory in 2020. Sato’s image on the trophy was officially unveiled during a ceremony today at the Indianapolis Motor Speedway Museum, where it is kept…

AUBURN HILLS, Mich., Feb. 19, 2021 /PRNewswire/ — Takuma Sato, the first Japanese driver to win the Indianapolis 500 in 2017, is making his mark on history once again by becoming the 107th face to adorn the Borg-Warner Trophy® following his second Indy 500 victory in 2020. Sato’s image on the trophy was officially unveiled during a ceremony today at the Indianapolis Motor Speedway Museum, where it is kept permanently on display. The Borg-Warner Trophy® Unveiling Special was streamed for fans worldwide in celebration of the 100 Days Countdown to the 105th Running of the Indianapolis 500 presented by Gainbridge. 

«The Borg-Warner Trophy is a revered tradition of the motorsport community and BorgWarner is pleased to carry on its incredible legacy,» said Frédéric Lissalde, President and CEO, BorgWarner Inc. «It is our honor to be a part of the unveiling of this year’s trophy, even more so following a tumultuous year that has taught us much about perseverance. Takuma’s hard work and dedication to his sport is outstanding and on behalf of all of BorgWarner, we extend our congratulations to him for his second badge of honor on this trophy that represents the pinnacle of performance for open-wheel racing.»

Commissioned in 1935, the sterling silver trophy stands more than 5 feet and 4 inches tall and weighs approximately 110 pounds, honoring every winner since 1911 with their sculpted faces affixed to the iconic trophy.

Crafting the life-like sculptures is a privilege that sculptor William Behrends has undertaken since 1990. Through a multi-phase process, he begins creating the likeness of the drivers based on a series of 360-degree photos. He then invites the winning driver, in this case Sato, for an in-person session to produce a full-scale clay model of his face. The life-size clay image is used as a reference when Behrends works on the smaller model, which is created out of a mixture of oil-based clays. The clay model is eventually turned into a mold and then cast in wax, which is sent out to a jeweler to be transformed into sterling silver. Behrends ends his process by polishing and buffing the image before attaching it to the Borg-Warner Trophy.

«I am thrilled to once again have my face become a permanent fixture on the Borg-Warner Trophy,» said Sato. «William’s work is extraordinary, and it is amazing how much detail he can fit into the sterling silver sculptures. The effort he puts into making each individual winners’ personality and character is quite special and it was an honor to experience this thorough and remarkable process once again.»

Fans cheered on Sato from the comfort of their own homes during the 104thIndianapolis 500 in August 2020, following the decision to not allow spectators to attend the race in light of the COVID-19 pandemic. Sato drove for Rahal Letterman Lanigan Racing, averaging a speed of 157.824 mph and leading 27 of 200 laps of the race.

Later this year, Sato will be receiving a BorgWarner Championship Driver’s Trophy, also known as a Baby Borg, which is a miniature replica of the Borg-Warner Trophy that will feature a duplicate of his sterling silver image. Rahal Letterman Lanigan Racing will also receive a memento commemorating the victory: the BorgWarner Championship Team Owner’s Trophy.

About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 24 countries, the company employs approximately 50,000 worldwide. For more information, please visit borgwarner.com.

The Borg-Warner Trophy, BorgWarner Championship Driver’s Trophy, and BorgWarner Championship Team Owner’s Trophy are trademarks of BorgWarner Inc.

Forward-Looking Statements: This press release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management’s current outlook, expectations, estimates and projections. Words such as «anticipates,» «believes,» «continues,» «could,» «designed,» «effect,» «estimates,» «evaluates,» «expects,» «forecasts,» «goal,» «guidance,» «initiative,» «intends,» «may,» «outlook,» «plans,» «potential,» «predicts,» «project,» «pursue,» «seek,» «should,» «target,» «when,» «will,» «would,» and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this press release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading «Critical Accounting Policies and Estimates» in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2019 («Form 10-K»), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. Forward-looking statements are not guarantees of performance, and the Company’s actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: uncertainties regarding the extent and duration of impacts of matters associated with COVID-19, including additional production disruptions; the failure to realize the expected benefits of the acquisition of Delphi Technologies PLC that the Company completed on October 1, 2020; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to acquired businesses; our dependence on automotive and truck production, both of which are highly cyclical and subject to disruptions; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; future changes in laws and regulations, including, by way of example, tariffs, in the countries in which we operate; impacts from any potential future acquisition or divestiture transactions; and the other risks, including by way of example, pandemics and quarantines, noted in reports that we file with the Securities and Exchange Commission, including Item 1A, «Risk Factors» in our most recently-filed Form 10-K and in our most recently-filed Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this press release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

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SOURCE BorgWarner

#1! Kia Top Mass-Market Brand In J.D. Power Vehicle Dependability Study

IRVINE, California, Feb. 19, 2021 /PRNewswire-HISPANIC PR WIRE/ — Kia was ranked number one among mass-market brands today by J.D. Power in the 2021 Vehicle Dependability Study (VDS) with a reported 97 problems per 100 vehicles. The achievement has been strengthened by three of Kia’s most popular-selling models – the Sorento, Sportage, and Optima – each besting their respective segments. 

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IRVINE, California, Feb. 19, 2021 /PRNewswire-HISPANIC PR WIRE/ — Kia was ranked number one among mass-market brands today by J.D. Power in the 2021 Vehicle Dependability Study (VDS) with a reported 97 problems per 100 vehicles. The achievement has been strengthened by three of Kia’s most popular-selling models – the Sorento, Sportage, and Optima – each besting their respective segments. 

#1! Kia top mass-market brand in J.D. Power Vehicle Dependability Study

«Earning the top spot among mass market brands in J.D. Power’s Vehicle Dependability Study is another new benchmark achievement for Kia’s meteoric rise in the industry,» said Sean Yoon, president & CEO, Kia Motors North America & Kia Motors America.  «This substantial award bolsters our track record in initial quality and shows that the ‘new car luster’ of our world-class vehicles extends far beyond the first 90 days of ownership. Kia owners continue to enjoy and feel confident in their vehicles as the years go by, especially knowing they’re backed by our industry leading warranty.»

The study measures the number of problems per 100 vehicles (PP100) experienced over the last year by owners of their three-year-old vehicles, meaning this study focused on 2018 model year vehicles. It includes 32 nameplates and 153 models, covering problem symptoms grouped into eight major vehicle categories (Seats, HVAC, Features/Controls/Displays (FCD), Driving Experience, Interior, Engine/Transmission, Exterior, Audio/Communication/Entertainment/Navigation (ACEN).

About Kia Motors America
Headquartered in Irvine, California, Kia Motors America continues to top quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the «Official Automotive Partner» of the NBA and offers a complete range of vehicles sold through a network of more than 750 dealers in the U.S., including cars and SUVs proudly assembled in West Point, Georgia.*

For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert.

*The Telluride, Sorento and K5 are assembled in the United States from U.S. and globally sourced parts.

1 Tied with Dodge.

Logo – https://mma.prnewswire.com/media/1441344/Kia_Motors_America_Logo.jpg

SOURCE Kia Motors America

#1! Kia Top Mass-Market Brand In J.D. Power Vehicle Dependability Study

IRVINE, Calif., Feb. 19, 2021 /PRNewswire/ — Kia was ranked number one among mass-market brands today by J.D. Power in the 2021 Vehicle Dependability Study (VDS) with a reported 97 problems per 100 vehicles. The achievement has been strengthened by three of Kia’s most popular-selling models – the Sorento, Sportage, and Optima – each besting their respective segments. 

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IRVINE, Calif., Feb. 19, 2021 /PRNewswire/ — Kia was ranked number one among mass-market brands today by J.D. Power in the 2021 Vehicle Dependability Study (VDS) with a reported 97 problems per 100 vehicles. The achievement has been strengthened by three of Kia’s most popular-selling models – the Sorento, Sportage, and Optima – each besting their respective segments. 

Kia owners reported fewest problems in new vehicles after three years of ownership.

«Earning the top spot among mass market brands in J.D. Power’s Vehicle Dependability Study is another new benchmark achievement for Kia’s meteoric rise in the industry,» said Sean Yoon, president & CEO, Kia Motors North America & Kia Motors America.  «This substantial award bolsters our track record in initial quality and shows that the ‘new car luster’ of our world-class vehicles extends far beyond the first 90 days of ownership. Kia owners continue to enjoy and feel confident in their vehicles as the years go by, especially knowing they’re backed by our industry leading warranty.»

The study measures the number of problems per 100 vehicles (PP100) experienced over the last year by owners of their three-year-old vehicles, meaning this study focused on 2018 model year vehicles. It includes 32 nameplates and 153 models, covering problem symptoms grouped into eight major vehicle categories (Seats, HVAC, Features/Controls/Displays (FCD), Driving Experience, Interior, Engine/Transmission, Exterior, Audio/Communication/Entertainment/Navigation (ACEN).

About Kia Motors America
Headquartered in Irvine, California, Kia Motors America continues to top quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the «Official Automotive Partner» of the NBA and offers a complete range of vehicles sold through a network of more than 750 dealers in the U.S., including cars and SUVs proudly assembled in West Point, Georgia.*

For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert.

*The Telluride, Sorento and K5 are assembled in the United States from U.S. and globally sourced parts.

1 Tied with Dodge.

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SOURCE Kia Motors America

Tae-Hoon Kim Hits Hole-In-One At The Genesis Invitational, Wins G80 Executive Sedan

PACIFIC PALISADES, Calif., Feb. 19, 2021 /PRNewswire/ — Today, during the first round of The Genesis Invitational at The Riviera Country Club, professional golfer Tae-Hoon Kim hit a hole-in-one on the 16th hole winning an all-new 2021 Genesis G80 executive sedan. Having previously won the 2020 Genesis Championship in Incheon, Korea, Tae-Hoon continues to dazzle viewers with his inspiring play.

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PACIFIC PALISADES, Calif., Feb. 19, 2021 /PRNewswire/ — Today, during the first round of The Genesis Invitational at The Riviera Country Club, professional golfer Tae-Hoon Kim hit a hole-in-one on the 16th hole winning an all-new 2021 Genesis G80 executive sedan. Having previously won the 2020 Genesis Championship in Incheon, Korea, Tae-Hoon continues to dazzle viewers with his inspiring play.

«We are so proud of Tae-Hoon and are pleased that an emerging talent sharing our Korean roots is already having success here in the early rounds of our hometown Genesis Invitational,» said Mark Del Rosso, President & CEO of Genesis Motor North America.

The G80 that Tae-Hoon Kim will be taking home is at the core of the Genesis sedan lineup and offers a perfect balance of comfort and refined performance.

During today’s first round, the par-3 16th hole played 168 yards long.

About The Genesis Invitational

One of the most historic and longest-running events on the PGA TOUR, The Genesis Invitational celebrates its 95th playing, February 15-21, 2021, at historic Riviera Country Club. With TGR Live serving as the event management company for The Genesis Invitational, the primary benefiting charity is TGR Foundation, with proceeds from the event supporting the foundation’s education programs in Southern California. The tournament’s title sponsor is Genesis, a global luxury automotive brand that delivers the highest standards of performance, design and innovation. For more information about The Genesis Invitational, visit GenesisInvitational.com and follow the tournament on Facebook, Twitter and Instagram @TheGenesisInv.

Genesis Motor America

Genesis Motor America is headquartered in Fountain Valley, California. Genesis is a global automotive brand that delivers the highest standards of performance, design, and innovation. Genesis offers a range of models including the G70 sport sedan, G80 executive sedan, the flagship G90 sedan, and the GV80 sport utility vehicle.

Please visit our media site for the latest news at www.genesisnewsusa.com.

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SOURCE Genesis Motor America

Aeromexico Draws Third and Final Disbursement Under DIP Financing

MEXICO CITY, Feb. 19, 2021 /PRNewswire/ — Grupo Aeroméxico, S.A.B. de C.V. («Aeromexico» or the «Company») (BMV: AEROMEX). As a follow up to our previous relevant events regarding (a) securing the commitment of a US$1,000 million senior secured superpriority multi-tranche debtor in possession term loan facility (the «DIP Facility»), (b) the initial funding of US$100 million of…

MEXICO CITY, Feb. 19, 2021 /PRNewswire/ — Grupo Aeroméxico, S.A.B. de C.V. («Aeromexico» or the «Company») (BMV: AEROMEX). As a follow up to our previous relevant events regarding (a) securing the commitment of a US$1,000 million senior secured superpriority multi-tranche debtor in possession term loan facility (the «DIP Facility»), (b) the initial funding of US$100 million of Tranche 1 loans under the DIP Facility, (c) the final approval of the DIP Facility by Judge Shelley C. Chapman of the United States Bankruptcy Court for the Southern District of New York (the «Chapter 11 Court»), and (d) the second disbursement of the undrawn portion of the Tranche 1 facility (US$100 million) and of the initial funding of US$175 million of Tranche 2 loans, the Company announces that the conditions to drawing the remaining undrawn commitments of the Tranche 2 facility (US$625 million) have been met and, accordingly, the Company has requested such final disbursement.

Andrés Conesa, CEO of Aeromexico, commented: «The funding of the final disbursement is a key milestone in Aeromexico’s ongoing, voluntary restructuring process that will provide us with sufficient liquidity to support our continued operations during this time and with the flexibility to continue our orderly restructuring process with the objective of emerging stronger. We recognize and appreciate the continuing support from my fellow co-workers, Board of Directors, authorities and all stakeholders

As we reported in our relevant event of August 13, 2020, the Tranche 2 DIP Facility may be converted, at the lenders’ option, into shares of reorganized Aeromexico, subject to certain conditions and the applicable corporate and regulatory approvals (including at the Aeromexico’s shareholders meeting) for the issuance of the corresponding shares. In order to effectuate (i) the debt-into-equity conversion of the allowed unsecured claims recognized in our Chapter 11 process at a to-be-determined ratio, and (ii) the conversion of the Tranche 2 DIP Facility, the shareholders meeting of the Company would need to approve a capital increase. As we had anticipated, if the lenders exercise the option to convert the Tranche 2 DIP Facility, following the corresponding capital increase, the shareholders will be almost fully diluted so that their remaining equity stake will likely be minimal (if any), provided that shareholders (other than those that have agreed not to exercise preemptive rights pursuant to the Shareholder Support Agreement) will be allowed to exercise their preemptive rights subject to several conditions that are yet to be determined.

The price of our common stock has been volatile following the commencement of our Chapter 11 process and may significantly decrease in value in the future. Therefore, any trading in our common stock during the pendency of our Chapter 11 process is highly speculative and involves substantial risks to buyers of our stock. Future recoveries in our Chapter 11 process for our shareholders will depend upon our ability to negotiate and confirm a Plan of Reorganization, the terms of such Plan, the recovery of our business from the COVID-19 pandemic and the future value of our assets upon conversion of our liabilities. Although at this stage we cannot predict how our common stock will eventually be treated under a Plan, we believe that it is unlikely that stockholders would receive a recovery through a Plan since it is expected that the holders of unsecured indebtedness will not be paid in full and will need to convert their claims into new stock to be issued by the Company. Consequently, there is a significant risk that our stockholders may receive no recovery, or a nominal recovery, under our Chapter 11 process.

Certain statements contained or incorporated by reference in this relevant event include «forward-looking statements». Forward-looking statements include information concerning the Company’s liquidity and its possible or assumed future results of operations, including descriptions of its business strategies. These statements often include words such as «believe,» «expect,» «project,» «potential,» «anticipate,» «intend,» «plan,» «estimate,» «seek,» «will,» «may,» «would,» «should,» «could,» «forecasts» or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate in these circumstances under our chapter 11 process. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent relevant events. Among other items, such factors could include: the Company’s ability to navigate the chapter 11 process, including obtaining Chapter 11 Court approval for certain requirements, complying with and operating under the requirements and constraints of the U.S. Bankruptcy Code, negotiating and consummating chapter 11 plan, developing, funding and executing the Company’s business plan and continuing as a going concern; the value of the Company’s common stock due to the chapter 11 process; levels of travel demand, particularly with respect to business and leisure travel in Mexico and in global markets; the length and severity of the COVID-19 pandemic and the impact on the Company’s  business as a result of travel restrictions and business closures or disruptions; the impact of the COVID-19 pandemic and actions taken in response to the pandemic on global and regional economies and economic factors; general economic uncertainty and the pace of economic recovery, including in key global markets, when the COVID-19 pandemic subsides; the risk of an «ownership change». Our investors should not place undue reliance on forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements; all such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements whether as a result of new information or otherwise.

Aeromexico will continue pursuing, in an orderly manner, its voluntary financial restructuring through Chapter 11, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations. The Company will continue to strengthen its financial position and liquidity, protect and preserve its operations and assets, and implement the necessary adjustments to face the impact from COVID-19.

About Grupo Aeromexico Grupo Aeroméxico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico’s global airline, has its main operations center in Terminal 2 of the Mexico City International Airport. Its destination network has reach in Mexico, the United States, Canada, Central America, South America, Asia and Europe. The Group’s current operating fleet includes Boeing 787 and 737 aircraft, as well as the latest generation Embraer 190. Aeromexico is a founding partner of SkyTeam, an alliance that celebrates 20 years and offers connectivity in more than 170 countries, through the 19 partner airlines. Aeromexico created and implemented a Health and Hygiene Management System (SGSH) to protect its clients and collaborators at all stages of its operation.

www.aeromexico.com   www.skyteam.com

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SOURCE Grupo Aeromexico, S.A.B. de C.V.

Modine Announces Sale of Austrian Automotive Business

RACINE, Wis., Feb. 19, 2021 /PRNewswire/ — Modine Manufacturing Company (NYSE: MOD or the «Company»), a diversified global leader in thermal management technology and solutions, today announced that it has signed a definitive agreement with Schmid Metall GmbH, an affiliate of Rupert Fertinger GmbH, to sell a portion of the Company’s European air-cooled automotive business, including its manufacturing facility located in Kottingbrunn, Austria.

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RACINE, Wis., Feb. 19, 2021 /PRNewswire/ — Modine Manufacturing Company (NYSE: MOD or the «Company»), a diversified global leader in thermal management technology and solutions, today announced that it has signed a definitive agreement with Schmid Metall GmbH, an affiliate of Rupert Fertinger GmbH, to sell a portion of the Company’s European air-cooled automotive business, including its manufacturing facility located in Kottingbrunn, Austria.

The transaction is expected to close in the first half of 2021, following the receipt of regulatory approvals and other customary closing conditions.  The sale will allow the Company to avoid significant liabilities and future cash investments in the business. 

«This is an important step in our strategic exit of the automotive segment businesses, allowing us to further fuel and grow our remaining business,» said Modine Chief Executive Officer, Neil D. Brinker. «We have been on a journey to become a diversified industrial company and this transaction will allow us to focus our resources on our remaining businesses that provide higher operating margins, lower capital intensity and greater free cash flow generation.»

This announcement follows the earlier announced sale of the liquid-cooled automotive business to Dana Incorporated.  That transaction is also expected to close in the first half of 2021 following receipt of regulatory approvals.    

About Modine

Modine, with fiscal 2020 revenues of $2.0 billion, specializes in thermal management systems and components, bringing highly engineered heating and cooling components, original equipment products, and systems to diversified global markets through its four complementary segments: CIS; BHVAC; HDE; and Automotive. Modine is a global company headquartered in Racine, Wisconsin (USA), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.

Forward-Looking Statements

This press release contains statements, including information about future financial performance and market conditions, accompanied by phrases such as «believes,» «estimates,» «expects,» «plans,» «anticipates,» «intends,» and other similar «forward-looking» statements, as defined in the Private Securities Litigation Reform Act of 1995. Modine’s actual results, performance or achievements may differ materially from those expressed or implied in these statements because of certain risks and uncertainties, including, but not limited to those described under «Risk Factors» in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 and under Forward-Looking Statements in Item 7 of Part II of that same report and in the Company’s Quarterly Reports on Form 10-Q for the quarters ended June 30, September 30, and December 31, 2020. Other risks and uncertainties include, but are not limited to, the following: the impact of the COVID-19 pandemic on the national and global economy, our business, suppliers, customers, and employees; the overall health and price-down focus of Modine’s customers; our ability to successfully execute our strategic and operational plans, including our ability to successfully complete the pending sale of our liquid-cooled automotive business, including the receipt of governmental and third-party approvals and satisfaction of other closing conditions, and our ability to successfully exit our other automotive businesses; our ability to effectively and efficiently reduce our cost structure in response to sales volume declines and complete restructuring activities and realize benefits thereon; our ability to comply with the financial covenants in our credit agreements and to fund our global liquidity requirements efficiently; operational inefficiencies as a result of program launches, unexpected volume increases, product transfers, and delays or inefficiencies resulting from restrictions imposed in response to the COVID-19 pandemic; economic, social and political conditions, changes and challenges in the markets where Modine operates and competes, including foreign currency exchange rate fluctuations, tariffs (and potential trade war impacts resulting from tariffs or retaliatory actions), inflation, changes in interest rates or tightening of the credit markets, recession, restrictions associated with importing and exporting and foreign ownership, public health crises, and the general uncertainties about the impact of regulatory and/or policy changes, including those related to tax and trade, the COVID-19 pandemic and other matters, that have been or may be implemented in the U.S. or abroad, and continuing uncertainty regarding the impacts of «Brexit»; the impact on Modine of any significant increases in commodity prices, particularly aluminum, copper, steel and stainless steel (nickel) and other purchased components, and our ability to adjust product pricing in response to any such increases; the nature of and Modine’s significant exposure to the vehicular industry and the dependence of this industry on the health of the economy; the concentration of sales within our CIS segment attributed to one customer; Modine’s ability to recruit and maintain talent in managerial, leadership, and administrative functions; Modine’s ability to protect its proprietary information and intellectual property from theft or attack; the impact of any substantial disruption or material breach of our information technology systems; costs and other effects of environmental investigation, remediation or litigation; and other risks and uncertainties identified by the Company in public filings with the U.S. Securities and Exchange Commission.  Forward-looking statements are as of the date of this release, and the Company does not assume any obligation to update any forward-looking statements.

Investor & Media Contact

Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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SOURCE Modine Manufacturing Company

RV Owners: Special Offer To Join The FMCA RV Club Community

CINCINNATI, Feb. 19, 2021 /PRNewswire-PRWeb/ — Record numbers of people are discovering the advantages of RV travel. An RV provides a safer, more controlled way of vacationing and spending time in the outdoors, with all the associated physical and mental health benefits. To welcome new RV owners to its community and introduce them to the support the group provides, FMCA RV Club is offering a discounted one-year enrollment fee of $60 for a limited time ― <span…

CINCINNATI, Feb. 19, 2021 /PRNewswire-PRWeb/ — Record numbers of people are discovering the advantages of RV travel. An RV provides a safer, more controlled way of vacationing and spending time in the outdoors, with all the associated physical and mental health benefits. To welcome new RV owners to its community and introduce them to the support the group provides, FMCA RV Club is offering a discounted one-year enrollment fee of $60 for a limited time ― $25 off the usual rate, a savings of 30%. Those who want to save even more can sign up for one or two additional years.

FMCA RV Club members travel with peace of mind knowing that their membership has them covered. Member-only benefits include the FMCAssist Medical Emergency and Travel Assistance Program and a subscription to Family RVing magazine (the official monthly publication of the FMCA RV Club), plus discounts on roadside assistance, RV and passenger car tires, insurance, and more. Not to mention that belonging to a supportive community of RV owners adds to the fun and adventure of the open road.

RV owners interested in joining at the special rate should visit join.fmca.com/join60-b/ or call (800) 543-3622 or (513) 474-3622, Monday through Friday, 8:00 a.m. to 5:00 p.m. Eastern time.

ABOUT FMCA: ENHANCING THE RV LIFESTYLE
FMCA is the world’s largest nonprofit association for recreation vehicle (RV) owners. The organization maintains its national headquarters in Cincinnati, Ohio, and currently has nearly 150,000 active members. FMCA offers its members benefits that include a subscription to its monthly magazine, Family RVing; a medical emergency and travel assistance program valued at $200-plus per family; a tire purchasing program; group rates on a roadside assistance program, RV and auto insurance, and RV tours and caravans; and discounts on a mobile internet access plan from Sprint. Perhaps the most important benefit of FMCA membership is the camaraderie and friendships that develop among people enjoying the common interest of RV travel. For more information, visit FMCA.com or call (800) 543-3622 or (513) 474-3622.

Media Contact

Pamela Kay, FMCA, 513-474-3622, pkay@fmca.com

Twitter

 

SOURCE FMCA RV Club

After UK Supreme Court defeat, ITF calls on Uber to abandon its business model and recognise workers globally

LONDON, Feb. 19, 2021 /PRNewswire/ — Following this morning’s UK Supreme Court ruling that Uber drivers are workers, not self-employed contractors, global union federation representing 20 million transport workers has called on Uber to abandon its predatory business model globally.

The unanimous dismissal of Uber’s appeal handed down by the court ends a long-running legal battle after Uber appealed and lost through all four rounds.

In welcoming this morning’s landmark decision, <span…

LONDON, Feb. 19, 2021 /PRNewswire/ — Following this morning’s UK Supreme Court ruling that Uber drivers are workers, not self-employed contractors, global union federation representing 20 million transport workers has called on Uber to abandon its predatory business model globally.

The unanimous dismissal of Uber’s appeal handed down by the court ends a long-running legal battle after Uber appealed and lost through all four rounds.

In welcoming this morning’s landmark decision, Stephen Cotton, General Secretary of the International Transport Workers’ Federation (ITF) called on Uber to emerge from behind their app and extend protections to its drivers and riders globally.

«We congratulate the claimants, their representatives and legal teams. This is a victory for all workers fighting for decent work in the gig economy,» said Cotton. «For the fourth and final time, British judges have ignored Uber’s twisted and fictional contract language and concluded that the company is misclassifying its drivers.»

Today’s ruling arrives almost one year after France’s highest court ruled that Uber drivers are employees.

«Despite attempts by Uber and other gig economy companies to misclassify their workers as independent contractors, courts are increasingly recognising direct employment relationships. The tide is turning,» said Cotton.

«It’s time for Uber to abandon both its predatory business model and its aggressive legal and regulatory strategies and recognise their drivers and riders as workers with protections and rights that they are entitled to,» added Cotton.

For Uber drivers, today’s decision means that they can finally enjoy fundamental workers’ rights including the national minimum wage, holiday pay, sick pay, protection against unlawful discrimination and collective bargaining rights.

«We call on Uber to listen to its workers and to sit down with trade unions and engage in meaningful dialogue that ensures that the future of the gig-economy benefits everyone,» said Cotton.

The Supreme Court judgment emphasised five aspects which led to the Court’s conclusion on worker status:

  1. Uber sets the fare;
  2. Drivers have no say in contract terms;
  3. Once a driver has logged onto the Uber app, the driver’s choice about whether to accept requests for rides is constrained by Uber (i.e. penalties for not accepting rides);
  4. Uber exercises significant control over the way in which drivers deliver their services (i.e. low ratings result in deactivations); and
  5. Uber restricts communications between passenger and driver to the minimum necessary (i.e. there can be no contracting between driver and passenger).

About the ITF

The International Transport Workers’ Federation (ITF) is a democratic global union federation of nearly 700 transport workers’ trade unions representing around 20 million workers in 150 countries. The ITF works to improve the lives of transport workers globally, encouraging and organising international solidarity among its network of affiliates. The ITF represents the interests of transport workers’ unions in bodies that take decisions affecting jobs, employment conditions and safety in the transport industry.

Whitney Plantation Receives $250,000 W.K. Kellogg Foundation Grant

WALLACE, La., Feb. 12, 2021 /PRNewswire/ — Whitney Plantation Museum has received a one-year grant of $250,000 from the W.K. Kellogg Foundation (WKKF). The funding will help support the museum’s operating budget, which was drastically reduced since the onset of the pandemic.

Due to Covid-19, Whitney Plantation Museum’s visitation dropped from an average of 10,000 visitors a month to only 1,000. The decreased visitation necessitated staff furloughs and salary…

WALLACE, La., Feb. 12, 2021 /PRNewswire/ — Whitney Plantation Museum has received a one-year grant of $250,000 from the W.K. Kellogg Foundation (WKKF). The funding will help support the museum’s operating budget, which was drastically reduced since the onset of the pandemic.

Due to Covid-19, Whitney Plantation Museum’s visitation dropped from an average of 10,000 visitors a month to only 1,000. The decreased visitation necessitated staff furloughs and salary reductions to keep the museum open. The reduction also delayed plans for additional programming, community outreach and research. The Kellogg Foundation grant will aid with the aforementioned and support the organization’s efforts to create and distribute new, complex and complete narratives of slavery. 

According to Ashley Rogers, executive director of Whitney Plantation, the WKKG funding will help as the organization continues to adapt to Covid-19 limitations. «We are incredibly honored to have been awarded a grant from the Kellogg Foundation to support our operations for 2021. This grant will not only help us sustain our operations through the pandemic, but it will allow us to expand our staff and begin working to craft educational programs, both for on-site and distance learning,» says Rogers.

Whitney Plantation Museum is a non-profit 501(c)(3) organization. Donations to further support Whitney Plantation’s mission can be made at whitneyplantation.org/donate

About Whitney Plantation

Whitney Plantation is the only plantation museum in Louisiana with an exclusive focus on the lives, labor, and experience of enslaved people.  Through a state of the art self-guided tour of an 18th century sugarcane and rice plantation, visitors learn about slavery and its resulting legacies. For more information, visit whitneyplantation.org/donate

About the W.K. Kellogg Foundation

The W.K. Kellogg Foundation (WKKF), founded in 1930 as an independent, private foundation by breakfast cereal innovator and entrepreneur Will Keith Kellogg, is among the largest philanthropic foundations in the United States. Guided by the belief that all children should have an equal opportunity to thrive, WKKF works with communities to create conditions for vulnerable children so they can realize their full potential in school, work and life.

The Kellogg Foundation is based in Battle Creek, Michigan, and works throughout the United States and internationally, as well as with sovereign tribes. Special attention is paid to priority places where there are high concentrations of poverty and where children face significant barriers to success. WKKF priority places in the U.S. are in Michigan, Mississippi, New Mexico and New Orleans; and internationally, are in Mexico and Haiti. For more information, visit http://www.wkkf.org

Media Contact:
Dr. Joy Banner, jbanner@whitneyplantation.org 
225.624.6778

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SOURCE Whitney Plantation