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A New Chapter Begins: GRP Successfully Completes Investment Partnership in its Structural Steel Business, Garuda Yamato Steel, with Yamato Kogyo, Hanwa and Siam Yamato Steel.

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JAKARTA, Indonesia, June 6, 2024 /PRNewswire/ — In a significant move signalling a new phase of growth and expansion, PT Gunung Raja Paksi Tbk (“GRP”) and its affiliated company, PT Gunung Garuda (“GRD”), are pleased to announce the successful completion of the sale process involving a combined 95% stake in its subsidiary, PT Nusantara Baja Profil (“NBP”), to Yamato Kogyo Corporation (“YKC”), Siam Yamato Steel (“SYS”), and Hanwa Indonesia (“HWI”), a subsidiary of Hanwa Co., Ltd (“Hanwa”), as agreed upon in definitive agreements executed on 8 August 2023. This strategic alignment of vision and goals among all parties involved signals a new phase of growth and expansion for the companies. Alongside the successful acquisition, NBP also changes its name and identity to Garuda Yamato Steel (“GYS”).

Overview of Transaction

GYS is a company engaged in the Structural Section Steel Business with an annual steel production capacity of 1 million tonnes per annum and a rolling capacity of 900,000 tonnes per annum.  Before the sale, GRP and GRD held 81.07% and 18.93% respectively. Following the sale, GRP will retain a 5% stake with YKC holding 45%, SYS holding 35% and HWI holding 15% stake in GYS respectively.

The investment in GYS represents a strategic move by YKC, SYS and HWI to expand their business in Southeast Asia. The transaction, valuing GYS at US$450 million, underscores the immense potential and attractiveness of the Indonesian steel market. This transaction has delivered a significant premium to GRP’s market capitalization and shareholders.

This transaction was secured in a volatile post-COVID market environment where the company was able to overcome significant business challenges through a relentless pursuit of value creation to maximize shareholder value. This investment by a diverse and strategic group of investors is a testament to the successful transformation of the company. Since the beginning of 2020, GRP has embarked on a transformation journey to become a strong and highly competitive steel company. It has successfully implemented various strategic policies in terms of change management, digital transformation, and drive towards sustainability to achieve a low-carbon future.

Strong Collaboration with Strategic Investment Partners

“With the collective financial strength and operational expertise of our investment partners, GYS is well-positioned to be the leading structural steel company in the region. We have exciting plans ahead to launch new steel products that will capture the immense market opportunities in Indonesia and will continue extracting further margin expansion through our production efficiency initiatives,” said Tony Taniwan, the newly appointed President Director of Garuda Yamato Steel. Tony brings over two decades of experience in the steel industry. He currently serves as the Vice Chairman of the Indonesian Iron & Steel Industry Association (IISIA).

The acquisition of GYS by YKC, SYS, and HWI emphasizes their strategic vision to expand their presence in the domestic market, reflecting a shared vision for growth and prosperity in the region. The companies’ collaborative effort aligns with the projected growth in national steel consumption, estimated to reach 18.3 million tons in 2024 with a 5.2% increase. Moreover, with 41 strategic priority projects in the construction sector, including the development of the Nusantara Capital (IKN), which requires around 9.5 million tons of steel, there’s a substantial opportunity for steel producers like GYS to support Indonesia’s infrastructure development. Collectively, the strategic investors will focus on growing their presence in SEA and be able to bring synergies through their expertise in the structural steel business, global procurement and marketing networks and financial strength.

“This strategic realignment not only creates tangible value for shareholders but also reinforces GRP’s financial position, empowering management to focus on further enhancing the company’s competitiveness and sustainability efforts,” said GRP’s Finance Director Roymond Wong.

For GRP, this transaction represents the culmination of a transformational journey embarked upon since the beginning of 2020. With a steadfast commitment to becoming a leading player in the steel industry, GRP has diligently pursued strategic initiatives in digital transformation, ESG strategies, and energy transition, paving the way for sustainable growth and development.

A Green Future Ahead for the Flat Steel Business

With the conclusion of the transaction, GRP will focus on its existing flat business and has big and exciting plans to transform into the lowest carbon-emitting steel producer in the region. This includes investing significant capital to adopt the most advanced, energy-efficient and technologically proven way of low-carbon steel making. In addition, GRP will be engaging heavily with key stakeholders to develop Indonesia’s green steel standards that will position the company to distinguish itself from regional steel players.

“Our vision for the future of GRP lies in green steel and signals our strong commitment and support to Indonesia’s government initiate to achieve net zero emissions by 2060. This requires a bold leap forward where cutting-edge steel technology meets our urgent need to address climate change. There is going to be massive market disruption as carbon policies around the world put pressure on supply chains to deliver low-carbon solutions and players that are not able to adapt will not survive,” said Kimin Tanoto, Chairman of the Executive Committee. “We have shown the world that our team in GRP can deliver even in the toughest times to deliver a stellar outcome for all stakeholders. This time is no different. Going green is a smart business strategy that can lead to increased profitability, ability to attract top talent, and market competitiveness.”

“The completion of this transaction is a culmination of GRP’s transformational journey. Through this transaction we have achieved significant value creation for shareholders, bolstered GRP’s financial strength and empowered management to focus on developing the flats business”, said Kelvin Fu, Strategic Advisor of GRP. “As we embark on this exciting new chapter, the company remains committed to driving innovation, sustainability, and growth, not only for its stakeholders but also for the communities that we serve. We deeply appreciate the unwavering support, dedication, and confidence demonstrated by our Japanese and Thai investment partners, and we are committed to maintaining and enhancing our partnership.”

About Yamato Kogyo Co Ltd

YKC (Mkt. Cap: US$3.3b) based in Japan manufactures and distributes steel products, railroad track components and industrial materials. Its presence includes Bahrain, Japan, Thailand, the US, Vietnam and South Korea. Website: https://www.yamatokogyo.co.jp/ 

About Siam Yamato Steel Co Ltd

Siam Yamato Steel Co., Ltd was established in 1992 to produce hot-rolled structural steel. It is a joint venture between Yamato Kogyo Co., Ltd. Mitsui & Co., Ltd, The Siam Cement Public Company Limited, Sumitomo Corporation (Thailand) Co., Ltd., and Mitsui & Co. Website: https://www.syssteel.com/ 

About Hanwa Co Ltd

Hanwa (Mkt. Cap: US$1.7b) is a leading Japan-based global trading company with major businesses in steel, metal recycling and primary metal, food products, energy and industrial machinery. Website: https://www.hanwa.co.jp/ 

About PT Gunung Raja Paksi Tbk

PT Gunung Raja Paksi Tbk is a member of the Gunung Steel Group, one of the largest private steel companies in Indonesia. Founded in 1970 in Medan, North Sumatra, our company began by producing hot steel and gradually expanded to produce steel beams and sheets.

With over 50 years of experience in the steel industry, we have a production capacity of 1,200,000 tons of high-quality steel each year, certified by both local and international certification organizations.

Today, our company has become one of the largest private steel companies in Indonesia. Gunung Raja Paksi, “Shaping Tomorrow”. Together, we are developing a better future. Website: www.gunungrajapaksi.com

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SOURCE PT Gunung Raja Paksi Tbk

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EBSCO Clinical Decisions Appoints Paul Tuten as Executive Vice President

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13 minutes ago

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October 26, 2026

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~ Seasoned health IT executive and former ONC advisor to lead EBSCO Clinical Decisions as it advances its mission to bring trusted evidence to clinicians at the point of care.~

IPSWICH, Mass., Oct. 26, 2026 /PRNewswire/ — EBSCO Clinical Decisions today announced the appointment of Paul Tuten as its Executive Vice President. In his role, Tuten will oversee all aspects of EBSCO Clinical Decisions, including strategy, content, product development, and growth. His priorities include advancing the organization’s point-of-care strategy and expanding partnerships that bring expert-vetted DynaMed® content directly into the workflows, platforms, and AI-enabled tools clinicians use every day.

“Paul’s strong and even-handed leadership is an incredible asset as we work to deliver intelligent, evidence-based tools that elevate care delivery,” said Roy Ziegelstein, MD, MACP, Editor-in-Chief and Chief Medical Officer of DynaMed. “His deep technical expertise and track record in academic publishing will help us take the next step in building and delivering trustworthy, evidence-based solutions for clinicians that integrate natively into their daily workflows, reducing friction and improving care when and where it matters most.”

Tuten joined the company in 2025 as Executive Vice President and Chief Platform Officer at EBSCO Information Services, focused on accelerating scalable growth of EBSCO’s advanced knowledge services. Prior to joining, he was Chief Product and Technology Officer at Taylor & Francis, where he led a global team in driving digital transformation and enhancing data governance, analytics, and platform-centric customer experiences in service to academic researchers. Tuten previously built and repositioned health IT organizations focused on clinical data exchange, patient safety, quality measurement, and revenue cycle management, including at Quantros (now part of RLDatix and Healthcare Bluebook), RxAnte, and ABILITY Network (now part of Inovalon). He holds a PhD in Information Systems from Nova Southeastern University.

“For too long, clinical decision support has worked like a paper map. Useful, but only if you pull over to review it and already know where you are. Clinicians need something closer to GPS, seamlessly integrated into the car and proactively guiding them in real time without having to take their eyes off the road,” said Tuten. “At EBSCO Clinical Decisions, our job is to get trusted clinical knowledge everywhere care is delivered. But like GPS, clinical decision support is only as good as the information behind it. With AI tools multiplying and published research outpacing peer review, it’s never mattered more that human experts decide what evidence informs it. I’m excited to help bring this vision to life and set a new standard for point-of-care delivery.”

Tuten has also advised the federal government on health information exchange and interoperability as a Senior Advisor to the Office of the National Coordinator for Health Information Technology (ONC) at the U.S. Department of Health and Human Services. In that role, he supported the HITECH Act’s Meaningful Use program and served as a government liaison to EHR vendors on certification criteria.

To learn more about EBSCO Clinical Decisions, click here. 

About EBSCO Clinical Decisions

EBSCO Information Services (EBSCO) helps people find, access, and apply trusted information. Through its EBSCO Clinical Decisions suite of products, EBSCO delivers evidence-based clinical decision-support solutions designed to help healthcare professionals answer clinical questions, support informed decisions, and improve patient care.

EBSCO Clinical Decisions combines trusted clinical content with advanced technologies to support healthcare organizations and clinicians across clinical decision-making, patient care, learning, and research. The suite is designed to provide current, evidence-based information within the clinical workflow, helping healthcare professionals find the answers they need when they need them. For more information, visit www.clinicaldecisions.com. Visit our blog at Health Notes or follow us on X and LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ebsco-clinical-decisions-appoints-paul-tuten-as-executive-vice-president-302918867.html

SOURCE EBSCO Information Services

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College Board Launches AP Cybersecurity to Prepare Students to Protect the Digital World

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14 minutes ago

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October 26, 2026

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New high school course builds foundational skills for college, careers, and service as states connect cybersecurity education to national security needs

NEW YORK, Oct. 26, 2026 /PRNewswire/ — Cyber threats reach into everyday life, from scams that steal families’ savings to attacks on utilities and other essential services. Helping students understand and respond to those threats can open doors to further education, employment, and national defense service. College Board’s new AP Cybersecurity course, which was launched in high schools this fall, gives students a place to begin.

In 2025, U.S. employers posted more than half a million job listings requiring cybersecurity skills. Yet many students have little opportunity to learn about cybersecurity in high school or see where those skills could take them.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/college_board/9381153-en-college-board-launches-ap-cybersecurity

AP Cybersecurity introduces students to the work behind that demand: protecting the systems people depend on. Through practical scenarios, students assess security weaknesses, weigh risks, and investigate evidence of attacks. An assignment might ask them to evaluate threats to internet-connected farm equipment or recommend protections for computer networks aboard a naval submarine.

These assignments help students see how cybersecurity skills apply across industries and in national defense. Indiana offers an example of how those connections can take shape. The statewide Cybersecurity Partnership brings together high schools, colleges, employers, and the Indiana National Guard to help students explore routes into further education, employment, and military service.

The course and partnerships like Indiana’s address two connected needs: giving students an introduction to cybersecurity and helping them understand where continued learning could lead. For students, that connection gives classroom assignments a larger purpose. Investigating a security weakness today can be a first step toward learning how to protect a hospital, secure a business, or defend the country.

Interested in learning more? Talk to your school district or high school to see if they are offering AP Cybersecurity or visit collegeboard.org

View original content:https://www.prnewswire.com/news-releases/college-board-launches-ap-cybersecurity-to-prepare-students-to-protect-the-digital-world-302918558.html

SOURCE College Board

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Alkami to Host Webinar with Thomaston Savings Bank on Using Predictive AI to Deliver Data-Driven Guidance and Accelerate Growth

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14 minutes ago

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October 26, 2026

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Leaders from Alkami and Thomaston Savings Bank will discuss how financial institutions can use predictive AI and behavioral signals to drive strategic growth and strengthen account holder relationships

PLANO, Texas, Oct. 26, 2026 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a digital sales and service platform provider for financial institutions in the U.S., today announced an upcoming webinar hosted with Thomaston Savings Bank, “Guess Less and Grow More with Predictive AI.” The webinar will take place Wednesday, October 28, 2026, at 2 p.m. ET.

As account holders increasingly expect more personalized and proactive experiences, financial institutions have an opportunity to leverage data to deliver tailored guidance during every interaction. According to Alkami research, 44% of Americans who use digital banking wish their primary financial provider did a better job anticipating their financial needs and goals.1

The upcoming webinar will explore how financial institutions can respond to these expectations by using predictive artificial intelligence (AI) to drive growth across deposits and lending while strengthening primary relationships. Speakers will discuss how Alkami’s Data & Marketing Solution uses behavioral insights and predictive AI to help institutions identify growth opportunities and deliver more personalized outreach.

Featured speakers include:

Kent Blacksher, strategic account executive, AlkamiEthan O’Day, business intelligence analyst, Thomaston Savings Bank

“Data helps us understand how customers engage, but the real value comes from understanding what those behaviors may tell us about their needs,” said Ethan O’Day, business intelligence analyst, Thomaston Savings Bank. “Predictive AI can help us focus our outreach sooner and make it more relevant, while our team’s expertise keeps the work grounded in the relationships we have with our customers.”

During the session, attendees will learn how to:

Identify deposit and lending opportunities using behavioral signalsCreate more relevant outreach for customers and membersRecognize engagement and attrition signals earlierSimplify campaign execution and move from insight to actionBuild marketing strategies that support growth and retention

The presentation will explore real examples of how data-activated campaigns drive faster product adoption, along with insights into how predictive AI can help guide your team’s strategy.

“Financial institutions have more data than ever, but data creates value when teams can turn insight into action,” said Kent Blacksher, strategic account executive at Alkami. “Combining predictive AI with human expertise allows marketing teams to skip the guesswork while building stronger account holder relationships.”

To register for the webinar, visit here.

To learn more about Anticipatory Banking and the Alkami Digital Sales & Service Platform, visit here.

About Alkami
Alkami provides a digital sales and service platform for U.S. banks and credit unions. Our unified Platform integrates onboarding, digital banking, and data and marketing—each solution can stand alone, but together they deliver more—to help institutions onboard, engage, and grow relationships. As the future shifts toward Anticipatory Banking, we help data-informed bankers meet the moment with technology that drives action.

1 Alkami Proprietary Research. 2026 Digital Banking Americans Research Study. Online survey of 1,500 U.S. digital banking Americans conducted March 26–April 22, 2026.

Media Relations Contacts
Vested
alkami@fullyvested.com

Marla Pieton
marla.pieton@alkami.com

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SOURCE Alkami Technology, Inc.

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