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Olea and Riverchain announce strategic partnership to address working capital challenges in construction industry

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HONG KONG and SINGAPORE, May 6, 2025 /PRNewswire/ — Olea Global Pte Ltd (“Olea”) and Riverchain International Ltd (“Riverchain”) are pleased to announce a strategic partnership aimed at addressing the significant working capital lock-up in the construction industry. This collaboration will leverage both companies’ expertise to provide innovative financing solutions tailored specifically for construction companies, particularly SMEs that are often underserved by tradition financial institutions.

The partnership will combine Olea’s global financing capabilities with Riverchain’s specialised knowledge and asset origination expertise of the construction sector to deliver efficient working capital solutions for construction businesses across the APAC region.

Ben Wong, CEO of Riverchain, said: “The construction sector faces unique challenges, such as payment delays and cash flow management issues, which can severely impact business operations and growth, ultimately compromising the project supply chain. This partnership with Olea enhances our ability to take a technology-led approach to deliver more comprehensive and efficient financing solutions that address payment delays and provide the liquidity needed for construction companies to take on new projects without financial constraints. Together, we aim to transform how construction businesses manage working capital.”

Amelia Ng, CEO of Olea, said: “We are delighted to partner with Riverchain to extend our financing solutions to the construction industry, which has traditionally faced significant working capital challenges. This collaboration allows us to demystify what has often been an opaque supply chain by leveraging our joint technologies to provide specialized funding options. These solutions address the unique payment cycles and liquidity needs of the construction sector, helping businesses grow sustainably while managing cash flow effectively.”

The construction industry is known for its extended payment terms and complex supply chains, which often create working capital pressures for contractors and suppliers. Add to this a volatile economic environment, characterised by rising material costs and skilled labour shortages. This partnership aims to alleviate these challenges by providing accessible, flexible financing solutions designed specifically for construction payment cycles.

The Riverchain-Olea partnership plans to finance construction projects, focusing on Asia-Pacific markets. Experts predict continued growth in the sector, with the Asia-Pacific construction output expected to reach USD 8.65 trillion by 2030. However, working capital constraints remain a significant barrier, particularly for small and medium-sized contractors. The Riverchain-Olea solution addresses this working capital lock-up through digitalized financing processes that provide faster access to capital and greater visibility across project payment cycles.

About Riverchain

Riverchain is a trusted provider of working capital solutions to the construction industry. Headquartered in Hong Kong, Riverchain is actively expanding its footprint across the Southeast Asian region. Having already supported 1,200 construction businesses in Hong Kong, Riverchain provides cash advances of up to 90% on invoices—allowing companies to receive payments up to 60 days before their original expected date.

Beyond financing, Riverchain is building a more transparent and resilient construction ecosystem through the proprietary technology that improves visibility of project performance and payment flows. Through Riverchain’s specialised industry knowledge and digital infrastructure, Riverchain is modernising construction finance and empowering businesses across the supply chain to grow confidently and sustainably.

About Olea

Olea is a digital infrastructure platform that connects global liquidity with trade and supply chain opportunities, fuelling growth and unlocking potential worldwide. Olea has diverse liquidity pools with varying appetite and focuses, Olea’s vision is to connect capital to opportunity. It has a strong conviction in the role of trade to support sustainable economic development across countries, particularly emerging markets, particularly Asia where many smaller suppliers are based. Olea supports suppliers and buyers in over 70 corridors.

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SOURCE Riverchain International Limited

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ACES Strengthens US Presence with Acquisition of Meskel & Associates Engineering

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AMMAN, Jordan and JACKSONVILLE, Fla., April 21, 2026 /PRNewswire/ — ACES US Holding Inc. (“ACES US” or the “Corporation”), the US subsidiary of the Middle East’s leading construction services and geotechnical engineering services firm, ACES Group, proudly completes its acquisition of Meskel & Associates Engineering (“Meskel” or “MAE”), a premier North Florida geotechnical engineering, materials testing and inspection, and CEI firm with over 18 years of experience in throughout the southeast US.  Combined with MC2 Engineers Inc., acquired in 2022, MAE advances ACES’ Strategic Plan, expanding the corporation’s presence in the US and significantly enhancing its capabilities in Florida and Georgia. 

With headquarters in Jacksonville, Florida, and over 50 staff, MAE provides geotechnical engineering, construction engineering and inspection (CEI), materials testing, subsurface exploratory drilling, and environmental consulting services.  The firm operates a CMEC-Certified and Florida Department of Transportation (“FDoT”) qualified laboratory in Jacksonville. With existing laboratories and facilities in Tampa and Ft Lauderdale, Florida, as well as Atlanta, Georgia, ACES has established a strategically significant presence in the Southeast, exceeding 200 employees. MAE will continue offering its services, along with MC2 Engineers additional services, for critical civil infrastructure projects led by design consultants, the federal government, the Florida Department of Transportation (“FDoT”), local city and county governments, municipalities, general contractors, as well as industrial and commercial developers.

“Today, we officially welcome MAE to ACES. This acquisition strengthens our position in the U.S. and broadens our capabilities across the construction and engineering value chain at a time of accelerating demand for reliable and resilient infrastructure. By combining environmental advisory, geotechnical engineering, construction support expertise, and construction engineering inspection capabilities, we are creating a more integrated platform to support complex infrastructure programs from planning through execution.” stated Izzat Katkhuda, Co-CEO of ACES.

“MAE brings strong client relationships that enhance the reach and impact of our U.S. platform. Together, our teams are expanding geographically, strengthening our service capabilities, and enhancing our ability to support clients, while providing greater opportunities for our people,” said Dr. Naeem Abdulhadi, Co-CEO of ACES.

“Over the past 18 years, Meskel has become one of the leading geotechnical and material engineering consultants in North Florida. I am proud of our client-centric culture we have built and believe this partnership will benefit our employees and clients. Joining ACES gives our team a broader platform, deeper resources, and expanded opportunities for growth. We are proud of what we’ve built and energized by what we will build together.” commented Tina Meskel, CEO of MAE.

About ACES

Founded in 1983, ACES offers a wide range of specialized engineering services including site and geotechnical investigation, geophysical investigation, materials technology and testing, quality control of projects, pile testing and instrumentation, special studies, land and marine surveying, and chemical and environment testing. With a strong regional network of over 25 offices across the Middle East, diverse capabilities, state of the art facilities, and over 4,000 highly qualified employees, ACES is committed to the best in class services. Learn more at www.aces-int.com.

About Meskel & Associates Engineering

Founded in 2008, Meskel & Associates Engineering is a Florida-based engineering firm providing geotechnical engineering, construction engineering and inspection (CEI), environmental consulting, and construction materials testing services across the Southeast United States. Learn more at www.meskelengineering.com.

About MC2

MC2, an ACES’ U.S. subsidiary, is a consulting and engineering firm with operations across Florida, Georgia and South Carolina. The company provides geotechnical engineering, construction materials testing, special inspections, and infrastructure consulting services to municipal, state, federal, and private-sector clients. Learn more at www.mc2engineers.com.

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View original content:https://www.prnewswire.co.uk/news-releases/aces-strengthens-us-presence-with-acquisition-of-meskel–associates-engineering-302747561.html

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LG ELECTRONICS SHOWCASES AN EXPANDED BUILT-IN PORTFOLIO WITH SKS AND LG BUILT-IN LINEUPS AT EUROCUCINA 2026

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Company Expands Presence in European Built-in Market With Tailored Innovations Reflecting Latest Design and Lifestyle Trends

News Summary

LG Electronics is showcasing a full range of built-in kitchen solutions from its SKS luxury brand and new LG Built-in package at EuroCucina 2026.The exhibition reflects LG’s strategy to expand its presence across both the ultra-premium and mass-premium segments in the European built-in market.LG’s showcase includes SKS’s expanded European and North American lineups and LG Built-in solutions powered by the company’s AI core technologies.The SKS and new LG Built-in lineups for Europe are designed to address local preferences for design consistency and installation flexibility.

SEOUL, South Korea, April 21, 2026 /PRNewswire/ — LG Electronics (LG) is showcasing its built-in kitchen solutions, including its SKS luxury brand lineup and new LG Built-in package, at EuroCucina 2026 – the international kitchen exhibition held as part of Milan Design Week – in Milan, Italy, from April 21–26. The exhibition presents a wide range of solutions tailored to European lifestyles and preferences and reflects LG’s strategy to strengthen its presence in the European built-in market.

Built-in Strategy Under the Theme “Mosaic of Living”
Under the theme “Mosaic of Living,” LG’s EuroCucina exhibition introduces both the SKS lineup and the new LG Built-in package, along with the advanced technologies applied across each lineup. The company’s solutions help transform the kitchen from a purely functional space into one that invites relaxation, social interaction and enriched aesthetic experiences.

LG’s exhibition space, more than double the size of its 2024 footprint, was developed in collaboration with the Italian-Danish design duo GamFratesi. Based on a modular concept reflecting European kitchen environments and lifestyles, the space presents LG’s built-in portfolio for the European market: the SKS lineup for the ultra-premium segment and the LG Built-in package for the mass-premium segment.

SKS Introduces New Brand Identity and Expanded Global Lineup
SKS, making its first appearance at a European exhibition since last year’s rebranding, is presenting a total kitchen solution designed to meet the diverse needs and requirements of real-life kitchen environments. The SKS kitchen zone features a main kitchen showcasing contemporary design, a professional kitchen centered on large-capacity SKS appliances, and an area dedicated to new products tailored for European consumers.

Among the key products in the SKS kitchen zone is the Compact Oven & Warming Drawer, a space-saving 6-in-1 multi oven combining convection baking, air frying, steaming and microwave functions. The Compact Oven utilizes LG’s Inverter ProBake™ convection technology to maintain even heat distribution and improve cooking performance.

Also on display are the All Free 30-inch Induction Cooktop, designed with All‑Free Pattern Coil technology to allow the flexible placement of up to five cookware items, and the Downdraft Hood, which captures smoke and odors directly at the cooking surface while maintaining low noise levels. LG is also showcasing SKS products from its North American lineup, previously unveiled at KBIS 2026, including 30‑inch and larger ultra‑premium models, illustrating how the SKS lineup can accommodate a wide range of kitchen sizes and lifestyles.

LG Built-in Package as an Integrated Kitchen Solution 
In the LG Built-in kitchen zone, visitors can see the full LG Built-in package, which incorporates the company’s AI core technologies to improve everyday kitchen use. The LG Built-in package integrates ovens, induction cooktops, refrigerators and dishwashers into a cohesive system, delivering consistent design and flexible installation options optimized for European living environments.

Featured products include the Camera Oven with AI Gourmet™, which recognizes ingredients and recommends optimal cooking settings, and a new Dishwasher lineup with AI SenseClean™, which detects soiling levels and automatically adjusts washing cycles. Visitors can also see the LG Fit & Max refrigerator lineup, which offers increased storage capacity and incorporates the Zero Clearance Hinge for a seamless fit in tight spaces.

Interactive Experiences Extending Beyond the Exhibition
During EuroCucina, LG is also offering interactive programs that allow visitors to experience SKS technologies in use. Live cooking shows in the SKS main kitchen zone feature products such as the 24-inch Column Refrigerator and Freezer and the 24-inch Steam Oven. A wine tasting program introduces the storage technologies and smart features of SKS wine cellars.

Furthermore, LG is participating in this year’s Fuori Salone, a design event held throughout the city of Milan, where visitors can explore the SKS Showroom at Via Manzoni 47 and experience the unique philosophy that guides LG’s luxury brand.

“EuroCucina 2026 provides an important opportunity for LG to introduce both our SKS luxury brand and new LG Built-in solutions to European customers,” said Baek Seung-tae, president of the LG Home Appliance Solution Company. “We will continue to strengthen our position in the European built-in market by offering integrated solutions that combine design consistency, advanced technologies and flexibility aligned with local lifestyles.”

LG welcomes EuroCucina 2026 attendees to experience its innovative built-in kitchen solutions at Milan Design Week (Stand C24 and C31, Hall 4, EuroCucina/FTK: Fiera Milano, Milan, Italy).

About LG Electronics Home Appliance Solution Company 
The LG Home Appliance Solution Company (HS) is a global leader in home appliances and AI home solutions. By leveraging industry-leading core technologies, the HS Company is committed to enhancing consumers’ quality of life and promoting sustainability. The company develops thoughtfully designed kitchen and living appliance solutions and has recently integrated LG’s Robot Business Division to incorporate advanced robot technologies into its home solutions. Together, these products offer enhanced convenience, exceptional performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LG.com/global/newsroom/.

About SKS 
SKS, formerly known as Signature Kitchen Suite, is the award-winning luxury appliance brand backed by LG Electronics. Fueled by a passion for innovation, we create luxury appliances that redefine what’s possible and unite precision with unparalleled performance. Our guiding principles of purposeful design and bold innovation infuse every product. With a commitment to excellence and passion for pushing boundaries, SKS has earned international accolades for our groundbreaking appliances. We continue to transform the modern kitchen, delivering an elevated culinary experience. From the pioneering built-in sous vide range to Gourmet AI in our wall ovens, SKS embodies cutting-edge, best-in-class technology. Visit www.sksappliances.com or follow the brand on social channels@SKSappliances.

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SOURCE LG Electronics, Inc.

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Nexteer Introduces Market-Ready EMB at Auto China 2026, Advancing Comprehensive Motion Control Solutions

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BEIJING, April 21, 2026 /PRNewswire/ — Nexteer Automotive (HK 1316) announces that its Electro-Mechanical Brake (EMB) is now ready for market after completing development and validation. After debuting at Auto Shanghai 2025, EMB has reached maturity for mass production. With this, Nexteer now offers full Motion-by-Wire™ capabilities, including Steer-by-Wire and Brake-by-Wire.

From Blueprint to Journey: Tested in Extreme Conditions, Fulfilling Expectations 
Nexteer’s EMB product has seen remarkable advancements since its launch at Auto Shanghai 2025. In one year, Nexteer has moved forward with product design, production line development, and supply chain integration, fostering seamless collaboration across all stages. The EMB has successfully passed rigorous simulations, bench tests, and extreme winter testing. The company has held thorough discussions with key local OEMs regarding technical requirements. After conducting comprehensive test drives, more than 20 customers offered high praise for the product. Several projects are now progressing into technical co-development.

Entering 2026, China’s automotive industry is undergoing a major shift — moving from simply stacking features to solving real‑world driving scenarios. OEMs no longer chase long checklists of technology; they want integrated solutions that address actual user pain points and deliver a better driving experience. Building on its deep expertise in both steering and braking, Nexteer is already taking the lead in developing integrated functions for high‑frequency scenarios like city commuting and tight‑space parking.

From Steering to Braking: Advancing Comprehensive Motion Control Capabilities
As an expert in motion control, Nexteer leverages its extensive engineering proficiency in motion control by expanding from steering systems into the braking sector, thereby establishing robust full-stack motion control solutions encompassing both steering and braking functions. This development is founded upon Nexteer’s existing competencies across numerous areas, rather than beginning anew.

Full-stack chassis control software with open interfaces – Evolving from traditional feature superposing to deep, integrated collaboration. Equipped with Nexteer’s proprietary “braking-steering fusion” software, it enables cross-domain functional safety redundancy and provides a reliable actuation layer for L3 and higher level of autonomous driving. Built on proven, mature steering technology modules and designed with accessible interfaces, it allows OEMs to rapidly integrate the solution with their own software-defined vehicle architectures.Hardware reuse for cost and efficiency – Actuator modules (motors, reduction mechanisms, sensors) and motion controller electronics (ASIL-D MCUs, pre-driver chips, power management chips) are platformized for reusing, significantly shortening development duration and reducing system costs.Manufacturing synergy with strategic global footprint – Assembly equipment can be reused, and similar process challenges are tackled through parallel development. Staying true to its consistently high global quality standards, Nexteer leverages its worldwide manufacturing footprint to provide solid support for the reliable delivery of EMB products.Mature supply chain integration – High supplier overlap drives centralized procurement and economies of scale. Nexteer’s proven global value chain ensures a stable, reliable supply for mass production.

“The integration of Nexteer’s Steer-by-Wire and EMB isn’t just a simple ‘1+1’ — it’s a natural evolution rooted in the fundamentals of mechatronics, and a key enabler for achieving both safety and cost-effectiveness in high-level autonomous driving,” said Jun Li, Senior Vice President, Chief Strategy Officer and APAC Division President, Nexteer Automotive. “Choosing Nexteer means more than just picking up two components — it means getting a complete, proven, production-ready, and cost-effective chassis motion control solution.”

Motion, Millisecond, Mastery. With a century of engineering heritage, Nexteer delivers safe, reliable, and trustworthy motion control experiences — for OEMs and drivers alike.

Visit Nexteer at Booth W1B03, Hall W1, China International Exhibition Center (Shunyi) during Auto China 2026 to experience the breakthrough innovations of EMB and other cutting-edge technologies firsthand.

ABOUT NEXTEER AUTOMOTIVE
Nexteer Automotive (HK 1316) is a global leading motion control technology company accelerating mobility to be safe, green and exciting. Our innovative portfolio supports Motion-by-Wire™ chassis control, including electric and hydraulic power steering systems, steer-by-wire and rear-wheel steering systems, steering columns and intermediate shafts, driveline systems, software solutions and brake-by-wire. Celebrating 120 years of automotive innovation in 2026, Nexteer builds on a strong legacy of engineering excellence while continuing to shape the future of mobility. The company solves motion control challenges across all megatrends – including electrification, software/connectivity, ADAS/automated driving and shared mobility – for global and domestic OEMs around the world including BMW, Ford, GM, RNM, Stellantis, Toyota and VW, as well as automakers in India and China including BYD, Xiaomi, ChangAn, Li Auto, Chery, Great Wall, Geely, Xpeng and others. www.nexteer.com  

Links to Nexteer Media Center

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SOURCE Nexteer Automotive

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