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Unipart acquires rail bearing and axle box reconditioning business in Sydney, Australia

Business

Unipart acquires rail bearing and axle box reconditioning business in Sydney, Australia
Business

Business

Unipart acquires rail bearing and axle box reconditioning business in Sydney, Australia

2024-08-13 06:19 Last Updated At:06:35

OXFORD, England, Aug. 13, 2024 /PRNewswire/ -- Unipart, the supply chain solutions and performance improvement technologies partner, has announced the acquisition of the former Schaeffler Rail Bearing reconditioning business in Auburn, New South Wales.

The acquisition was completed on 12 August 2024, transferring the business assets to Unipart Group Australia Pty.  

The railway bearing reconditioning business started in 1991 as Bearing Engineering Services Ltd. before being acquired by Schaeffler in 2005. The business has a long history of serving both passenger and freight rail customers across Australia and is responsible for the refurbishment of around 20,000 bearings and axle boxes per annum, making it a critical component of the rail maintenance supply chain.

Unipart has been trading in the Australian rail sector since 2005, with Australian business operations established in 2007, building a customer base across freight and passenger services, bringing supply chain, consultancy and technology expertise to customers.

Darren Leigh, Unipart Chief Executive Officer, said: "The rail sector is a core existing and growth focus for Unipart and we are delighted to extend our capabilities in Australia. We welcome the new team members to Unipart and are excited to be in a position to offer our customers an extended range of performance improving services and solutions."

Mark Carling, Managing Director for Unipart Rail in Australia and Asia Pacific, said: "Unipart is a supply chain solutions and performance improvement technologies provider with locations around the world. Whilst we have had materials supply, consultancy and technology introductions in Australia for some years, we utilised the skills of our UK-based Maintenance, Repair and Overhaul (MRO) capabilities to serve our Australian customers. With this acquisition, from today we have expanded our local capabilities to further support our customers with a local and responsive MRO service."

The acquisition retains the site's expert railway bearing reconditioning and overhaul team, facilities and tooling, ensuring continuity of service for the MRO of critical bogie bearings.

Mark continued: "Whilst we ensure that we maintain an already excellent service for our customers, we will work with the new team to bring Unipart's capabilities and culture to the business to further enhance performance and value for our customers, as well as implementing plans to provide an expanded range of services to the Australian railway industry."

Contact: Dave Tilmouth, Head of Marketing Communications
Moblie: +44 (0) 07740 335899, Email: dave.tilmouth@unipartrail.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Unipart acquires rail bearing and axle box reconditioning business in Sydney, Australia

Unipart acquires rail bearing and axle box reconditioning business in Sydney, Australia

TAIPEI, Sept. 18, 2024 /PRNewswire/ -- Unitas Foundation announced today that the second phase of Unitas Protocol is now live on the mainnet. This phase introduced insurance providers (IPs) who will lend their USDT to the Unitas Protocol to support its over-collateralization. Concurrently, the 4REX tokenomics system has begun its operations, including auctions, profit sharing, and IP-related benefits.

"This milestone completed the first iteration of the Unitas stablecoin ecosystem— a  USDT-backed unitized stablecoin mechanism," said Sun Huang, Co-founder and Chief Technology Officer of Unitas Foundation. "Now, anyone can 'unitize' USDT into one local currency unit, including USD91 (INR-pegged), USD971 (AED-pegged), USD84 (VND-pegged), and USD1 (USD-pegged) with the over-collateralization provided by IPs."

The concept of reserving USDT as a store of value while dealing in the local unit of account is designed to address dollar shortages in emerging markets, improving both transactions and cross-border payments.

"We are thrilled to complete the USDT-reserved Unitas system," said Wayne Huang, Co-Founder and Board Director of Unitas Foundation. "The real-world applications in developing countries will be the main focus of the next stage. Meanwhile, our team is building the second Unitas ecosystem which will be backed by Tether Gold (XAUt). The transition from USD to Gold represents an exciting development for the stablecoin movement, and we are pleased to collaborate with Tether, the world's largest stablecoin issuer on this project."

Unitas Foundation, Tether, and XREX Group, a blockchain-enabled financial institution, will work together to launch XAU1, a USD-pegged unitized stablecoin over-reserved with XAUt, providing customers with a stable alternative and a hedge against inflation.

Unitas Foundation will unveil more exciting details at the second edition of the Stablecoin Summit, held on 20 September at Andaz Singapore as a side event of TOKEN2049.

About Unitas Foundation

Unitas Foundation is a non-profit organization founded in 2022. Unitas Protocol operates exogenously over-reserved stablecoins pegged to emerging market currencies. These stablecoins unleash emerging market potentials by facilitating foreign investment, cross-border payment, global market access, DeFi participation, efficient USD liquidity, and more.

To learn more about Unitas Foundation, visit its official website, Wiki, Telegram, X (formerly known as Twitter), blog, or email team@unitas.foundation.

Disclaimer:

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Unitas Protocol Launches Second Phase on Mainnet, Introducing Insurance Provider and 4REX Token

Unitas Protocol Launches Second Phase on Mainnet, Introducing Insurance Provider and 4REX Token

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