Nucor Acquires Majority Ownership Stake In California Steel Industries – Quick Facts

Constellation Brands plans new brewery in southeastern Mexico, report says

  • Mexican President Andres Manuel Lopez Obrador and Constellation Brands, which makes Corona beer for U.S. distribution, are expected to announce the construction of a new brewery in southeastern Mexico, the Wall Street Journal reports.
  • The exact location of the plant in southeastern Mexico has yet to be announced.

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Mexican President Andres Manuel Lopez Obrador and Constellation Brands, which makes Corona beer for U.S. distribution, are expected to announce the construction of a new brewery in southeastern Mexico, the Wall Street Journal reports.

The new brewery could be announced as early as next week and includes an investment of $1.3 billion, a source told the Journal. The exact location of the plant in southeastern Mexico has yet to be announced.

A spokesman for Constellation told the Journal that talks with the Mexican government "have been productive and remain ongoing." The company did not immediately return request for comment from CNBC.

Constellation had nearly completed construction of a new brewery in 2020 in the Mexican border city of Mexicali when residents voted against the new plant and the government forced the company to shut it down, according to the report.

Read more about the new brewery in the Wall Street Journal.

Actinium Pharma Posts Positive Data From SIERRA Trial For Iomab-B – Quick Facts

Actinium Pharmaceuticals, Inc. (ATNM) reported positive data from the fully enrolled phase 3 SIERRA trial of Iomab-B, an antibody radiation conjugate targeting CD45, an antigen widely expressed on leukemia and lymphoma cancer cells, immune cells and bone marrow stem cells. The company said it is highly encouraged that the separation in the number of patients potentially evaluable for the primary endpoint of six-month durable complete remission has remained at approximately 5-times or greater compared to control arm through all data analyses and at full enrollment.

Avinash Desai, Actinium’s Chief Medical Officer, said, “The remarkably consistent and high rates of bone marrow transplant engraftment together with the low rates of non-relapse transplant related mortality at day 100 with Iomab-B through 100% enrollment give us great confidence in SIERRA.”

With the final Iomab-B patient receiving their bone marrow transplant in November 2021, the company confirmed expectation for topline data in the third quarter of 2022.

ADM Lays Out Strategic Plan For Sustainable Earnings Growth

ADM (ADM) unveiled a comprehensive plan to drive continued earnings growth to $6.00 – $7.00 per share by 2025. The company will reduce Scope 3 greenhouse gas emissions by 25% by 2035 from a 2019 baseline.

The company targets doubling of nutrition profitability to a range of $1.25 billion – $1.5 billion by 2025.

The company detailed a five-year plan with targets including net incremental operating profit growth of $1.2 billion, which translates to high single-digit percentage earnings per share growth from a current normalized baseline of $4.00-$4.50 per share to a new baseline of $6.00-$7.00 by 2025.

The company targets growth across all three business units, with Nutrition targeting $1.25 billion – $1.5 billion in operating profit by 2025.

E-filliate Recalls 302K DEWALT Wireless Earphones

Rancho Cordova, California-based E-filliate Inc. is recalling about 301,800 units of DEWALT wireless earphones citing burn and fire risks, the U.S. Consumer Product Safety Commission said.

The recall involves DEWALT Jobsite Pro Wireless Earphones, which have a black and yellow neckband with wired earbuds.

Manufacture codes included in the recall are D4 1910, D4 1912, D4 2003, D4 2004, D4 2006, D4 2009, D4 2011, D4 2012, D4 2101, D4 2103, and D4 2104. If no manufacture code is present, the product is included in the recall.

The products were manufactured in China and sold at Home Depot, Lowe’s stores and other electronics stores and hardware stores nationwide and online at www.cyberguys.com from December 2019 through July 2021 for about $60.

According to the agency, the wireless earphones can overheat while charging or in use, posing burn and fire hazards.

The recall was initiated after E-filliate received 61 reports of the earphones overheating during charging or use, including five reports of fire and four reports of minor burn injuries.

Consumers are asked to contact E-filliate to receive a pre-paid shipment label to return the product directly to E-filliate in order to receive a free replacement.

In recent recalls, RFA Brands LLC, d/b/a myCharge in late October called back about 67,000 units of powerbanks as its lithium-ion battery could overheat and ignite, posing fire and burn hazards.

Nucor Acquires Majority Ownership Stake In California Steel Industries – Quick Facts

Nucor (NUE) has reached agreements to acquire a majority ownership position in California Steel Industries, Inc. by purchasing a 50% equity interest from a subsidiary of Vale S.A. and a 1% equity ownership stake from JFE Steel Corporation. The company will be a joint venture between Nucor and JFE. Nucor will pay a cash purchase price to Vale of $400 million for the 50% enterprise value.

California Steel Industries is a flat-rolled steel converter with the capability to produce more than two million tons of finished steel and steel products annually.

Leon Topalian, CEO of Nucor, said: “This acquisition will grow our portfolio of value-added sheet products, provide opportunities for increased internal shipments and enable us to provide our downstream businesses in the region such as Verco and Hannibal Industries with sheet steel products.”