US Business News Q2 2020

Welcome to the Q2 issue of US Business News. As always, we endeavour to bring you all of the latest features and cutting-edge opinion pieces from across the nation.

To start, an announcement: US Business News is being rebranded and incorporated alongside its sister publication, Latin America News, to become New World Report. Whilst we won’t be running a published magazine, we will continue to report on the latest news, topics and features that are impacting the greater region. We feel that this move is for the best and will allow us to focus on delivering exceptional content and insight into the movers, shakers and start up talent that both regions have to offer

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It has been, and continues to be, a challenging time for all of us. Every day we are exposed to bad news on top of bad news, coming from all corners of the globe. For many of us, happiness in day to day life is to be found in the smallest of things – the tiny slithers of light in the seemingly overwhelmingly obfuscating darkness. It’s important, then, to reevaluate what it means to achieve success in the world of business today. Success was defined by growth and revenue. More foot traffic. Larger profits. Year of year growth. More market exposure. Today, business success is defined by mere survival and that is enough. This is an unprecedented time, and better times are sure to come – but, for now, focus on the present and the now. Stay safe. Protect what you can. Grow when you can but realize that a time for true business growth may be some time off yet.

In the meantime, we’ll be here shining a light on the small (and, indeed, large) successes. Wherever they are. We hope you have a wonderful, and thriving, couple of months ahead.

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StemSation Expands into Mexico with Completion of Wholly Owned Subsidiary

StemSation International, Inc., a pioneer in the emerging category of dietary supplements called Stem Cell Nutrition, announces that it is expanding into Mexico and has just completed the incorporation process for a new wholly-owned subsidiary in Mexico named StemSation Mexico S.A. de C.V.

According to the World Federation of Direct Selling Associations (WFDSA), Mexico ranks 8th in the world in sales through this distribution channel. It is also a market that is very synergistic in growing the very lucrative U.S. Hispanic market. https://wfdsa.org/global-statistics/

Ray Carter, StemSation’s President and CEO commented, “Mexico is a strong market for our industry, and we’re excited to be offering our products and entrepreneurial business model there in the near future. We expect the next step of product registration to be completed shortly”.

StemSation’s all-natural products focus on supporting the two most recently discovered biological systems of the human body, the stem cell system of renewal and repair, and the endocannabinoid system of regulating physiological functions in both the central and peripheral nervous system and in peripheral organs. https://www.stemsation.global/www/en/us/about/

David Casanova, StemSation’s Vice President of Global Sales & Marketing commented, “Mexico is a big market that I know very well, and it is also our stepping-stone into all of Latin America as we continue to execute our global expansion plans”.

StemSation markets and sells its products online through its growing team of Independent Wellness Advocates in the United States and Europe, who each receive a StemSation replicated website in four languages and currencies. www.stemsation.global

StemSation is a company with a long-term ‘health mission’, ambitious research goals, and innovative, holistic approaches to health & wellness, and healthy longevity. Our product line shows a new pathway to wellness.

SOURCE: StemSation International, Inc.

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Avison Young grows Global Investment Management team

Investment leader Troy Jenkins joins as Principal to head expansion of platform in U.S.

Amy Erixon, Avison Young Principal and President of the firm’s Global Investment Management practice, today announced the appointment of Troy Jenkins as Avison Young Principal and Director of Investment Management. Jenkins is based in Los Angeles and will help expand the firm’s investment platform deeper into the U.S.

“Troy is a highly regarded professional known for his expertise in guiding investment strategies and decisions, with extensive contacts across the industry at large,” said Erixon. “We are living in unprecedented times and Troy’s deep understanding of market dynamics is completely aligned to our approach and focus on long-term strategies that deliver returns for our clients across the investment lifecycle.”

Avison Young’s Investment Management group provides strategy and oversight of multi-national portfolios on behalf of institutional investors. The team develops and proactively manages diverse portfolios comprised of various property types to create stable income and above average growth. It does so with a keen eye to providing risk adjusted returns for investors, while also addressing resiliency and sustainability in accordance with environmental, social and governance factors.

“Avison Young’s network of nearly 5,000 real estate professionals provides local market knowledge, generates unique investment opportunities and facilitates speedy decision-making, all of which are critical to the delivery of high-quality, performance-driven institutional Investment Management,” said Jenkins. “I was particularly attracted to Avison Young’s culture and by how well-positioned the firm is for growth. Their commitment to fostering a more culturally diverse commercial real estate industry is perfectly aligned with the personal and professional goals I value most.”

Jenkins brings nearly thirty years of experience in investment banking and commercial real estate, including real estate investment strategy, investor relations and portfolio management at firms like CBRE Global Investors, Profit Investments and American Realty Advisors. He is a graduate of Yale University and received his M.B.A from UCLA’s Anderson Graduate School of Management. Jenkins serves on the board of the Robert Toigo Foundation and as Chairman Emeritus and Member of the Board of Governors of the City Club Los Angeles.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors. 

Avison Young is a 2020 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.

SOURCE Avison Young

www.avisonyoung.com

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Canada and Ontario invest in road infrastructure for rural communities in Northern, Central and Eastern Ontario

ontario

The governments of Canada and Ontario recognize the different ways that the COVID-19 pandemic has impacted smaller and rural communities across the province. Both governments are making strategic investments in infrastructure to meet the specific needs of rural and northern Ontario municipalities and help them strengthen their local economies.

Today, Marc G. Serré, Member of Parliament for Nickel Belt, on behalf of the Honourable Maryam Monsef, Canada’s Minister of Women and Gender Equality and Rural Economic Development; and the Honourable John Yakabuski, Minister of Natural Resources and Forestry, and Member of Provincial Parliament for Renfrew—Nipissing—Pembroke, on behalf of the Honourable Laurie Scott, Ontario’s Minister of Infrastructure, announced funding for eight road and bridge projects in Northern Ontario. They were joined by his Worship, Stephen Salonin, Mayor of the Municipality of Markstay-Warren.

These projects will improve various streets, roads, and a bridge. In Markstay-Warren, $4.4 million in federal and provincial funding is being invested in resurfacing, improvements to shoulders and drainage, and the replacement of driveway culverts for approximately 5.5 kilometers of streets. The project will improve road safety and reliability.

In Wasauksing First Nation – Parry Island, the reconstruction of about 16 kilometres of Wawbawzee Road will improve access to the First Nation territory for residents, visitors and emergency vehicles, year-round.

In addition, the reconstruction of the Krugerdorf Bridge will replace the current 3-span, 60 metre bridge with a shorter span, improving drainage and the roadway. The new bridge will be safer and more reliable for residents of the Township of Chamberlain.

The Government of Canada is investing over $16.7 million in these projects through the Rural and Northern Communities Infrastructure Stream of the Investing in Canada infrastructure plan. The Government of Ontario is contributing more than $8.3 million for these important infrastructure projects in these communities, while municipalities are contributing over $2.7 million towards the projects and the Wasauksing First Nation is contributing $330,215 towards its project.

The governments of Canada and Ontario are working in collaboration with their partners to support jobs, improve communities and build confidence as we safely and sustainably restore economic growth.


Web: Infrastructure Canada

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Ficodis announces acquisition of Ontario-based Mackenzie Milne

Quebec’s industrial supplies leader increases its sales force, efficiency and presence in the Ontario market

Ficodis Group announces its expansion into the Ontario market with the acquisition of Mackenzie Milne, a Sarnia-based supplier of industrial and safety supplies. Ficodis is a leader in the distribution of industrial supplies recognized for offering services and customized solutions to manufacturing companies and SMEs. This 16th strategic acquisition since its founding in 2010, including the acquisition of Bluepoint Tool & Supply in Long-Island, New York, and Reliable Bearing in Mississauga, Ontario, in 2019, will allow Ficodis to add complementary expertise to its product offering while consolidating its presence in the Canadian province.

“We are delighted to welcome Mackenzie Milne to the Ficodis family, said Christophe Bévillard, President of Ficodis Group. Mackenzie Milne is a company with an incredible history and rich and diverse expertise in specialized safety and environmental products. The relationships they have built over the years will be an even greater asset to our company. This acquisition reinforces our commitment and desire to grow in the Ontario market while focusing on key areas to improve our sales force, efficiency and field presence”.

“Mackenzie Milne is known in our community for doing business in a very personal way. It was important that we team up with a company that understood our values as a small, family business, said Greg Primmer, President at Mackenzie Milne. Ficodis gave me the deep impression that they mirrored the same values and saw this as an asset to their company.”

Founded in 1848 in what later became the City of Sarnia, Ontario, Mackenzie Milne serves a strong client base across the province. The company stands out for its wide selection of high-quality merchandise and products and is known for its quality service. It also offers niche product lines such as asbestos removal and abatement supplies, truck work boxes and bags, and custom work clothing. The acquisition will also allow Ficodis to strengthen its safety specialty and make it available to all of its Ontario customers.

Mackenzie Milne also operates a 12,000 square foot fully equipped showroom, allowing it to provide on-site and direct sales to its customers. Over its 170-year history, Mackenzie Milne has succeeded in developing strong relationships with many of the highest quality manufacturers in the industrial tooling industry.

As a result of this acquisition, Ficodis will now have three large warehouses in Sarnia, Mississauga and Chatham, from which it can now offer its four product families in Ontario. In addition, Mackenzie Milne will also provide the group with a more diversified offering in terms of existing inventory volumes.

A strategic acquisition in times of pandemic


Beyond the usual industrial equipment, Mackenzie Milne specializes in the sale of personal and individual equipment (sanitary products, disposable gloves, masks). Demand for these products has risen sharply in recent months. The acquisition process of Mackenzie Milne was already under negotiation before the COVID-19 pandemic, but its formalization will allow Ficodis to enhance its offer. The group has also seen an important spike in sales of this type of equipment in recent months.

About Ficodis
Ficodis is a multi-specialized industrial supply distribution group that was founded in 2010 and is headquartered in Montréal. Comprised of 14 locations throughout the Canadian provinces of Quebec and Ontario, and in Long Island, New York, the Ficodis Group is recognized for the quality of its service, its technical expertise, as well as the products and solutions they provide, tailored to the needs of manufacturing companies and SMEs. The group specializes in four areas: Tools, Safety, Cutting and Power. Ficodis also offers a complete range of top-quality tools under its private label Cromson, that includes cutting tools, hand tools, abrasives and other Maintenance, Repair and Operations products. All of the products found in–store can also be ordered online at industrial-supplies.ca. To support its growth, Ficodis counts on the support of major financial partners such as Fondaction and Bank of Montréal. For more information www.ficodis.ca

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Canada Supports Inclusive Growth Through Economic Recovery

The Government of Canada is committed to innovation and building a clean energy future. This commitment will be more important than ever as we begin to reopen the economy and plan our recovery from the COVID-19 crisis.

The Honourable Seamus O’Regan, Canada’s Minister of Natural Resources, today participated in the International Energy Agency’s (IEA) Clean Energy Transitions Summit, the first IEA ministerial-level meeting entirely dedicated to the clean energy future. Minister O’Regan joined leaders from governments and industries around the world to discuss actions for sustainable recovery and clean energy technology innovation.

Minister O’Regan led a ministerial session on inclusive growth, which focused on placing people and communities at the heart of economic recovery and the long-term transition to a clean energy future. In recognition of the unprecedented and extensive impacts of the COVID-19 pandemic, he highlighted the importance of taking action to support workers and create the conditions for a more inclusive workforce.

Governments and industries alike have an opportunity to create more equitable and inclusive employment growth. Mobilizing the participation of traditionally underrepresented groups, including women, youth, racialized groups and Indigenous peoples, will be vital to the post-COVID-19 recovery and long-term economic growth.

Minister O’Regan also announced that Canada is leading the development of a reporting framework under the Equal by 30 initiative that will enable signatories to track and report on the concrete actions they are taking to close the gender gap across the energy sector. Led by Natural Resources Canada, Equal by 30 is a global campaign under the international Clean Energy Education and Empowerment (C3E) Initiative, a joint effort by the Clean Energy Ministerial and the International Energy Agency to advance gender equality in the energy sector. To date, close to 150 organizations across the energy sector, including governments, companies and non-profit institutions, have taken the Equal by 30 pledge.  The government remains committed to building a clean energy future that will not only support our natural resource sectors through this tough economic time but also grow the economy and create good jobs.

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Service Canada begins the gradual and safe reopening of in-person locations across the country

The Government of Canada is committed to supporting Canadians at every stage of the COVID-19 pandemic, and recognizes that Service Canada Centres offer one of the many important ways Canadians can access critical supports. Throughout the pandemic, the Government has taken concrete steps to ensure Canadians can continue to access the services and benefits they are entitled to in a way that respects public health guidelines and keeps Canadians safe.

As more parts of our economy begin to reopen, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development, announced the gradual and safe reopening of up to 90 Service Canada Centres across the country. Decisions about reopening are being guided by public health advice, and with the priority that as many Canadians as possible should be able to access an open Service Canada office.

The reopening of in-person Service Canada Centres will build on the new services recently put in place to meet the needs of Canadians during the pandemic, such as the eServiceCanada portal. This portal allows Canadians requiring assistance from Service Canada to submit an online request and receive a callback from a Service Canada officer within two business days.

Canadians should continue to use online services whenever possible, including the eServiceCanada portal. Canadians who do require in-person services should check the Find a Service Canada Office webpage to see if their local office is open. If so, they are encouraged to make a request for an appointment through eServiceCanada, which also allows Canadians requiring in-person services to submit a request for an appointment.

To protect the health and safety of Canadians and Service Canada employees, extensive work has taken place to ensure these Centres open in the safest way possible. Canadians entering offices will be required to respect physical distancing and will be strongly encouraged to use face masks and hand sanitizer. Each Service Canada Centre will operate according to province and municipal health and safety guidelines. As a result, face masks will be offered at Service Canada Centres where they are required under these guidelines.

Additionally, to continue making online services more accessible, and given that Social Insurance Numbers (SIN) are essential for accessing government services and benefits, Canadians can now apply for one through the secure SIN online portal. The portal allows Canadians to submit a SIN application entirely online within a secure and protected environment.


For the latest and most up-to-date information, and to learn more about available services, visit Service Canada.

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BRP to Increase Manufacturing Capacity in Mexico to Meet Side-by-Side Vehicles Demand

BRP announced today that it is increasing its manufacturing capacity with the construction of a new facility in Mexico to meet demand for its off-road vehicles (ORVs) business.

This expansion of BRP’s production facilities is intended to help keep pace with the increased demand for Can-Am side-by-side vehicles (SSVs) experienced in recent years. After a temporary slowdown due to COVID-19, retail sales went up by over 35% in May, compared to the previous year, and the trend continued in June.

“Despite the pandemic, demand for our products has remained strong, and even surpassed last year’s figures for the same period,” said José Boisjoli, President and CEO. “Our continued innovation and steady growth in SSVs make this additional capacity necessary to meet our goal of achieving 30% market share,” he added.

The planned facility will be located in Juárez and represents an investment of an estimated CA$185M and would result in the creation of up to 1,000 permanent jobs. BRP’s total capital expenditure for FY21 is now expected to be in a range of CA$275M to CA$300M.

Site planning and construction are scheduled to begin within the next months, and the plant is expected to be ready for operation by Fall 2021. This new plant, combined with the company’s two off-road manufacturing facilities in Juárez, will create positive operational synergies and efficiencies.

About BRP
We are a global leader in the world of powersports vehicles, propulsion systems and boats, built on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft, Manitou, Quintrex, Stacer and Savage boats, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$6.1 billion from over 120 countries, our global workforce is made up of approximately 12,600 driven, resourceful people.

www.brp.com

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