“FSIS intends to post updated results of completed Salmonella verification sample sets for young chicken slaughter establishments on or about the 15th of each month, beginning in April 2008,” the agency said in its announcement of the move last week. “Each month’s posting will replace that of the previous month.” Feb 6 CIDRAP News story “USDA to name poultry plants with Salmonella problems” See also: The FSIS’s current policy is to name the facilities in categories 2 and 3. Thirteen different poultry companies are represented by the chicken plants named by the FSIS. Pilgrim’s Pride has five plants on the list, while Tyson Foods has four. Five facilities appear on both the FSIS list and the Food and Water Watch list. Four of those are listed by the FSIS as category 2 plants, meaning that between 10% and 20% of recent samples were contaminated. But their appearance on the consumer group list signals they had more than 20% contamination at some point in the last 2 years. The plants listed are in 12 states and Puerto Rico. The two that failed the standard are a Pilgrim’s Pride Corp. facility in Ellijay, Ga., and a Tyson Foods Inc. plant in Center, Tex., according to the FSIS. Only two plants actually failed to meet the USDA’s standard for Salmonella in chicken: a maximum of 20% of samples contaminated. At the other 19 plants, between 10% and 20% of recent samples had Salmonella, according to the USDA Food Safety and Inspection Service (FSIS). Apr 1, 2008 (CIDRAP News) – As expected, the US Department of Agriculture (USDA) last week began publishing the names of broiler chicken plants that have had trouble with Salmonella, listing 21 facilities where more than 10% of samples were found contaminated in recent tests. The naming of the 21 plants came on the heels of a report in which the consumer group Food and Water Watch listed 27 broiler chicken facilities in 17 states that failed at least one round of Salmonella testing between January 2006 and January 2008 by having a contamination rate higher than 20%. The nonprofit group used a Freedom of Information Act request to obtain the information from the FSIS. An FSIS spokesperson declined to comment on the Food and Water Watch report. The Food and Water Watch report takes issue with that approach, saying that good performance in one round of sampling is no guarantee of continued success. The group’s findings show “that passing in one test period does not mean that contamination levels won’t increase beyond the performance standard in the next period,” the report states. Risk-based samplingUnder the risk-based sampling policy, the frequency of FSIS sampling is based on performance category. Category 1 facilities are tested at least once every 2 years and category 2 facilities at least annually, while category 3 plants may be tested several times a year, USDA officials have said. The group called on the USDA to publish Salmonella testing results for all chicken plants and to seek legislation to make its Salmonella standards legally enforceable. The organization also urged the agency not to reduce the frequency of sampling at plants that have the lowest contamination rates. “Such results undercut the position of FSIS that passing facilities should not be retested for 12 to 24 months,” the report adds. “With no government oversight and enforcement, previously good plants may allow themselves to produce unsafe food over extended periods of time, which obviously threatens consumer health and safety.” Food and Water Watch report, titled “More Foul Fowl” The USDA had said in January that it would begin listing facilities with higher Salmonella rates on Mar 28. The move is part of a control initiative the USDA first announced about 2 years ago, after several years of increasing contamination rates. About 16% of broiler chicken samples tested positive for Salmonella in 2005. The initiative includes a “risk-based” sampling program, in which FSIS focuses more of its sampling on plants that have higher Salmonella levels. For example, it says, a Perdue Farms facility in Kentucky failed Salmonella testing in February 2007, with 32 positive samples out of 51 tested, up from 9 of 51 (a passing score) in December 2005. FSIS announcement about publication of chicken plants in performance categories 2 and 3http://www.fsis.usda.gov/Science/Salmonella_Verification_Testing_Program/index.asp The agency began naming broiler plants first because they have had the most trouble with Salmonella, but it is considering publishing results for facilities that produce other poultry and meat products, officials said. Three-tier rating systemThe FSIS sorts chicken plants into three categories according to their Salmonella test results as compared with the USDA’s 20% standard. Facilities that limit Salmonella to half of that standard (10%) or less in the last two sets of samples are put in category 1. Those that have Salmonella in more than 10% but fewer than 20% of samples are in category 2, and those that exceed 20% are in category 3. A set is a series of samples collected at one site on successive operating days—51 days in the case of broiler chickens.
Almost three in five European and Asia-Pacific investors plan to modify their private equity portfolios in the next five years to combat climate change, according to the latest Coller Capital Global Private Equity Barometer.Limited partners (LPs) that do expect change to their investment strategies are broadly planning to replace oil and gas exposure with investment in renewable energy and climate-friendly products and services.But less than a third of North American investors are planning a similar change.The Barometer is based on the views of 113 private equity investors based in Europe, North America, and Asia Pacific including the Middle East, with research undertaken in September and October 2019. According to the survey, LP commitments to private debt funds are plateauing, with equal proportions – 21% – planning to accelerate, or slow, their pace of commitment to private debt funds over the next two years.Stephen Ziff, partner and co-head of investor relations and fundraising, Coller Capital, said: “This reflects where we are in the economic cycle, and the belief by investors that we are heading for a downturn.”The survey showed that 45% of European investors believe their private equity portfolios need modifying to prepare them for the next economic downturn; North American and Asia-Pacific investors, however, were less sanguine, with 70% and 80%, respectively, planning to make the changes.Nine out of 10 LPs recognise the significant risks to their medium-term private equity returns posed by today’s macro-environment and high asset prices.Despite this economic background, 80% of LPs expect to achieve annual net returns of more than 11% from across their private equity portfolios in the next three to five years, while 15% of private equity investors are forecasting net returns of over 16%.But over half – 55% – of LPs have had requested commitments scaled back on multiple occasions, most commonly in venture capital and mid-market buyout funds, for which one-third of LPs had to settle for smaller commitments.However, co-investing continues to grow in popularity. Almost 70% of private equity investors now co-invest alongside GPs, while 44% of LPs actively pursue co-investment opportunities.
ADES International, a London-listed provider of onshore and offshore drilling and production services in the Middle East and Africa, has completed the acquisition of three offshore jack-up rigs in the Arabian Gulf from Nabors Industries. The initial announcement about the acquisition of these three operating rigs from subsidiaries of Nabors came in December 2017. The total purchase price of the deal with Nabors was $83 million, payable in a combination of cash and ADES shares.ADES then in May secured a new loan from Alinma bank, one of the Saudi-based financial institutions, to finance the acquisition of three jack-ups from Nabors and other potential deals.The acquisition closed on Tuesday, June 12, 2018, following the fulfillment of the conditions precedent agreed upon in the purchase and sale agreement (PSA), which included the renewal of two of the rigs’ expired drilling contracts, ADES informed in a statement on Wednesday.The rigs are currently contracted by a major national oil company in the Arabian Gulf and are expected to add approximately $140 million to ADES’ backlog. They have been renamed to Admarine 655, Admarine 656 and Admarine 657.According to ADES, Admarine 655 is currently undergoing an ABS recertification process in the shipyard, while Admarine 656 and Admarine 657 will generate revenue immediately, with their material impact expected to be weighted towards 2H 2018 earnings.Commenting on the acquisition, Dr. Mohamed Farouk, Chief Executive Officer of ADES International Holding, said: “This transaction adds three offshore drilling rigs to our existing fleet, thereby enhancing our position in our core business and reflecting our continued commitment to the Arabian Gulf’s offshore shallow water drilling market. The acquisition brings our jack-up offshore drilling rigs to thirteen, making us one of the main players in the MENA region.”