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RED SEA ATTACKS DRIVE TRANSPORTATION COSTS TO 15-MONTH HIGH AND SAFETY STOCKPILING INCREASES SLIGHTLY, BUT NO SIGNS OF PANIC SO FAR: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX

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Excess global supply chain capacity shrinks to its lowest level in nine months, showing the first signs of recovery in global manufacturing Demand for raw materials, commodities and components, while subdued, also trends higher in JanuaryAsian supply chains at their busiest in nearly a year as factory purchasing rebounds in region’s key markets

CLARK, N.J., Feb. 13, 2024 /PRNewswire/ — The GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories and backlogs based on a monthly survey of 27,000 businesses — rose to -0.12 in January, from -0.44 in December, its highest level since last April, indicating that spare capacity across global supply chains has shrunk notably.

Although this is the ninth successive month of excess capacity at global suppliers, the downturn eased to its weakest since last April. The index suggests that underlying trading conditions may be starting to improve as recession and inflation fears fade and businesses prepare for a stronger 2024.

The most noteworthy impact from the Red Sea disruption was to transportation costs, which rose to a 15-month high in January, as commercial ships took the lengthier route around the Cape of Good Hope. There was also a slight pick-up in safety stockpiling, with reports from businesses of inventory building due to supply or price fears at the highest since last June. That said, they were well below the levels seen in 2021-2022 during the post-pandemic supply crunch.

Regionally, Asia’s supply chains were at their busiest in nearly a year as factory purchasing activity in China, South Korea and India rebounded, suggesting manufacturers there are gearing up for growth. In a similar vein, suppliers to North America and Europe saw their spare capacity shrink during January. Less slack was also seen for the U.K.’s suppliers, who have experienced subdued demand for 19 consecutive months.  

“The world’s supply chains got busier in January, and activity at our global manufacturing clients is ticking up,” explained Daryl Watkins, senior director, consulting, GEP. 

“With input demand trending higher, led by Asia, signalling a return to positive growth in the coming months, it is imperative business keeps tamping down suppliers’ price increases so inflation continues to trend down,” said Watkins, summarizing the implications.

JANUARY 2024 KEY FINDINGS

DEMAND: Purchases of raw materials, commodities and components remained subdued, although the decline eased to its weakest since last April, hinting at improving demand.

INVENTORIES: Reports of safety stockpiling due to supply or price concerns ticked up to a seven-month high in January as disruption through the Suez Canal led some companies to build up inventory buffers.

MATERIAL SHORTAGES: Global supply conditions remain healthy — reports of item shortages remain among the lowest seen in four years.

LABOR SHORTAGES: Labor availability remains unproblematic for global suppliers, with reports of backlogs rising due to a lack of staff holding close to historically typical levels.

TRANSPORTATION: Global transportation costs rose to a 15-month high in January, signalling some contagion from the disruption to shipping through the Suez Canal.

REGIONAL SUPPLY CHAIN VOLATILITY

NORTH AMERICA: Index rose to -0.33, from -0.39, indicating the 10th consecutive month of underutilized supplier capacity.

EUROPE: Index rose to -0.63, from -0.92, the lowest level of excess vendor capacity in five months.

U.K.: Index rose to -0.62, from -1.05, showing spare capacity at U.K. suppliers almost halving, which is a positive sign after 19 consecutive months of subdued input demand.

ASIA: Index rose to 0.14, from -0.42, indicating the strongest pressure on the region’s supply chains in almost a year amid improving demand in key exporting nations.

For more information, visit www.gep.com/volatility.

Note: Full historical data dating back to January 2005 is available for subscription. Please contact economics@spglobal.com.

The next release of the GEP Global Supply Chain Volatility Index will be 8 a.m. ET, March 13, 2024.

About the GEP Global Supply Chain Volatility Index

The GEP Global Supply Chain Volatility Index is produced by S&P Global and GEP. It is derived from S&P Global’s PMI® surveys, sent to companies in over 40 countries, totaling around 27,000 companies. The headline figure is a weighted sum of six sub-indices derived from PMI data, PMI Comments Trackers and PMI Commodity Price & Supply Indicators compiled by S&P Global.

A value above 0 indicates that supply chain capacity is being stretched and supply chain volatility is increasing. The further above 0, the greater the extent to which capacity is being stretched.A value below 0 indicates that supply chain capacity is being underutilized, reducing supply chain volatility. The further below 0, the greater the extent to which capacity is being underutilized.

A Supply Chain Volatility Index is also published at a regional level for Europe, Asia, North America and the U.K. For more information about the methodology, click here.

About GEP

GEP® delivers AI-powered procurement and supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value. Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people — this is how GEP SOFTWARE™, GEP STRATEGY™ and GEP MANAGED SERVICES™ together deliver procurement and supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world’s best companies, including more than 550 Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals. A leader in multiple Gartner Magic Quadrants, GEP’s cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters.

GEP is also regularly ranked a top procurement and supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in Clark, New Jersey, GEP has offices and operations centers across Europe, Asia, Africa and the Americas. To learn more, visit www.gep.com.

About S&P Global

S&P Global (NYSE: SPGI) S&P Global provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world’s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world’s leading organizations plan for tomorrow, today.

Disclaimer

The intellectual property rights to the data provided herein are owned by or licensed to S&P Global and/or its affiliates. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without S&P Global’s prior consent. S&P Global shall not have any liability, duty or obligation for or relating to the content or information (“Data”) contained herein, any errors, inaccuracies, omissions or delays in the Data, or for any actions taken in reliance thereon. In no event shall S&P Global be liable for any special, incidental, or consequential damages, arising out of the use of the Data. Purchasing Managers’ Index™ and PMI® are either trade marks or registered trade marks of S&P Global Inc or licensed to S&P Global Inc and/or its affiliates.

This Content was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global. Reproduction of any information, data or material, including ratings (“Content”) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (“Content Providers”) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content.

Media Contacts

Derek Creevey
Director, Public Relations
GEP
Phone: +1 732-382-6565
Email: derek.creevey@gep.com

Joe Hayes
Principal Economist
S&P Global Market Intelligence
T: +44-1344-328-099
joe.hayes@spglobal.com

 

 

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Ultra Clean Announces Retirement of the Chief Financial Officer Sheri Savage

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April 28, 2026

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HAYWARD, Calif., April 28, 2026 /PRNewswire/ — Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today announced that Sheri Savage, CFO, will be retiring from the company.

“On behalf of the Board and the entire UCT team, I want to extend my deepest gratitude to Sheri for her remarkable 17 years of leadership and service,” said James Xiao, CEO. “Throughout her tenure, Sheri has played a pivotal role in shaping UCT’s financial strength, operational discipline, and long-term strategic direction. Her steady leadership, deep expertise, and unwavering commitment to excellence have helped guide the company through multiple industry cycles, positioning UCT for the next phase of growth. Sheri has been a trusted partner to me, the Board, and the broader global finance team, and her positive impact on this company will be lasting. We thank her sincerely for her dedication and wish her all the very best in her well-earned retirement.”

“It has been an incredible honor to be part of UCT’s journey over the past 17 years. I am deeply proud of what we have built together – strengthening our financial foundation, supporting our customers, and growing alongside a truly talented and committed global team,” said Sheri. “I am grateful for the trust and support I’ve received from my colleagues, our leadership team, and the Board throughout my tenure. UCT is well positioned for the future, and I look forward to watching the company continue to grow and succeed in the years ahead.”

The Board has initiated a comprehensive search for Sheri’s successor, considering both internal and external candidates, and will provide an update in due course.

About Ultra Clean Holdings, Inc.

Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. Under its Products division, UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping, and high-precision manufacturing. Under its Services Division, UCT offers its customers tool chamber parts cleaning and coating, as well as micro-contamination analytical services. Ultra Clean is headquartered in Hayward, California. Additional information is available at www.uct.com.

Contact:

Rhonda Bennetto
SVP Investor Relations
rbennetto@uct.com

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SOURCE Ultra Clean Holdings, Inc.

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SandboxAQ CEO Jack Hidary at Davos: GPS Jamming and AI Cyber Threats Now Converge

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April 28, 2026

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CEO tells The National that navigation interference and AI vulnerabilities now form a single threat surface for critical systems.

PALO ALTO, Calif., Apr. 28, 2026 /PRNewswire/ — At the World Economic Forum in Davos, Jack Hidary, CEO of SandboxAQ, warned that GPS jamming, GPS spoofing, and AI-enabled cyberattacks are converging into a single operational threat to critical systems. In remarks to The National, Hidary said the threats are no longer separate concerns but overlapping challenges requiring unified resilience.

SandboxAQ addresses both fronts with two technologies: AQNav, which uses the Earth’s magnetic field — the same signal birds and animals navigate by — to deliver resilient positioning, navigation, and timing in GPS-denied environments, and AQtive Guard, which unifies AI security and cryptographic posture management.

GPS interference is shifting from edge case to operational norm:

In June 2025, residents across multiple Middle Eastern countries reported location-service disruptions affecting consumer devices, ships, and aircraft, according to The National.In September 2025, media outlets reported GPS jamming on a flight carrying European Commission President Ursula von der Leyen, attributed to Russian interference.

“Recently, there was a plane flying and because it lost GPS because of jamming, the autopilot would not engage,” Hidary said, citing pilot reports of cascading failures inside aircraft systems. AQNav, tested by the US Air Force and several aviation companies, has drawn interest from Middle Eastern airlines.

Hidary linked GPS disruption to a parallel AI threat: “Large language models are also a vector of cyber attack.” He cited nation-state hackers exploiting generative AI tools, plus the Samsung incident, where engineers entered confidential information into ChatGPT.

The WEF’s 2026 Global Risks Report ranks cyber insecurity #6 among short-term global risks, with adverse outcomes of AI technologies showing the sharpest long-term rise — moving from #30 in the two-year outlook to #5 in the ten-year outlook. The report warns that “technological risks are also anticipated to worsen in severity over the next decade.”

Learn more or request a demo at sandboxaq.com. Read the full Davos coverage in The National.

About SandboxAQ

SandboxAQ is an enterprise company delivering AI solutions at the intersection of machine learning and science. Spun out from Alphabet in 2022, it develops Large Quantitative Models (LQMs) for life sciences, cybersecurity, financial services, navigation, and advanced materials. Visit www.sandboxaq.com to learn more.

 

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SOURCE SandboxAQ

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Tech-Access Canada Welcomes $165M Federal Investment to Accelerate Commercialisation

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April 28, 2026

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OTTAWA, ON, April 28, 2026 /CNW/ – Tech-Access Canada, the national network of Canada’s Technology Access Centres (TACs), welcomes today’s federal Spring Economic Update, which includes an investment of $165 million over five years to extend support for the College and Community Innovation (CCI) Program.

Delivered through Canada’s tri-council research system and administered by the Natural Sciences and Engineering Research Council of Canada, the CCI Program enables businesses to access applied R&D expertise, specialized facilities, and technical services to advance innovation and bring new technologies to market.

This investment will strengthen Canada’s capacity to support commercialisation and productivity by helping businesses, particularly small and medium-sized enterprises, accelerate the development, validation, and adoption of new products, processes, and technologies.

“Continued support for the CCI Program reinforces a proven model that connects businesses with the expertise and infrastructure they need to innovate and compete,” said Melanie Ross, Research Chair, Green Building Technology Access Centre, Southern Alberta Institute of Technology, and Chair of Tech-Access Canada’s Board of Directors. “Technology Access Centres deliver practical, industry-driven solutions that help companies move ideas forward and translate innovation into real economic outcomes.”

Each year, TACs work with thousands of companies across sectors to advance technologies along the commercialisation pathway from early-stage validation through to deployment and scale-up. By providing objective, non-dilutive support, TACs help companies make informed decisions, avoid costly missteps, and accelerate time-to-market.

“This investment helps ensure that innovation developed in Canada stays in Canada,” said Ken Doyle, Executive Director of Tech-Access Canada. “TACs help companies commercialise here at home reducing risk, accelerating time to market, and driving real outcomes. As Canadian firms scale and export globally, that success returns to the Canadian economy.”

Tech-Access Canada’s network includes more than 70 Technology Access Centres located across the country, providing businesses with access to over 2,100 applied R&D experts, millions of square feet of specialized facilities, and hundreds of millions of dollars in equipment and infrastructure.

About Tech-Access Canada

Tech-Access Canada is the national network of Canada’s Technology Access Centres (TACs), which help businesses access the expertise, facilities, and support they need to advance innovation and bring new products and services to market.

www.MeetTheTACs.ca

SOURCE Tech-Access Canada

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