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Valley Milk, LLC Named Food Engineering Magazine’s 2019 Plant of the Year

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Valley Milk, LLC has won Food Engineering magazines 2019 Plant of the Year Award for its new 142,000 square foot milk powder manufacturing facility in Turlock, California that was designed and built by Shambaugh & Son, L.P., a subsidiary of EMCOR Group, Inc. It marks the fifth time the prestigious food industry recognition has been awarded to a facility designed and built by Shambaugh & Son.

This is a great honor for Valley Milk. Working with the Shambaugh team has been a remarkable experience, stated Patti Smith, CEO, Valley Milk, LLC. It is incredible to bring a complex vision to reality for our companys founders, and this award makes it even more meaningful.

Paul R. Meyers, Jr., P.E., President and CEO, Shambaugh & Son, added, The Valley Milk facility has been an amazing project for our team. Bringing together Shambaughs engineering, construction and dairy processing experience with the expertise of Valley Milks founders and their staff has proven to be a winning combination.

Opened in 2018, Valley Milks facility can accept 50 milk tankers and process 2.5 million pounds of milk into non-fat dry milk and skim milk powder daily. Cognizant of Californias energy and water conservation initiatives, Shambaugh & Son met or exceeded state regulations to reduce energy costs and designed and built the facility to be nearly 100 percent sustainable on its own water usage.

Valley Milk is made up of five multi-generational Central Valley California dairy families, as well as nutritionists and veterinarians. The Turlock facility is supplied by 16 dairy farms and employs approximately 55 people.

A leading facilities services and construction contractor, Shambaugh & Son is a subsidiary of EMCOR Group, Inc. (NYSE: EME), a Fortune 500 leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses.

About EMCOR Group, Inc.

A Fortune 500 company with estimated 2018 revenues of ~$7.9B, EMCOR Group, Inc. (NYSE: EME) is a leader in mechanical and electrical construction, industrial and energy infrastructure, and building services. A provider of critical infrastructure systems, EMCOR gives life to new structures and sustains life in existing ones by its planning, installing, operating, maintaining, and protecting the sophisticated and dynamic systems that create facility environmentssuch as electrical, mechanical, lighting, air conditioning, heating, security, fire protection, and power generation systemsin virtually every sector of the economy and for a diverse range of businesses, organizations, and government. EMCOR represents a rare combination of broad reach with local execution, combining the strength of an industry leader with the knowledge and care of 170 locations. The ~36,000 skilled employees of EMCOR have made the company, in the eyes of leading business publications, amongst the Worlds Most Admired and Best Managed.” EMCORs diversityin terms of the services it provides, the industries it serves, and the geography it spanshas enabled it to create a stable platform for sustained results. The Companys strong financial position has enabled it to attract and retain among the best local and regional talent, to undertake and complete the most ambitious projects, and to redefine and shape the future of the construction and facilities services industry.

Joanne Lindberg
Director
Marketing &
Communications
203-849-7968

LAK Public Relations, Inc
Media: Lisa Linden / David Simpson
212-899-4745

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Bitcoin, ether hit fresh highs

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Bitcoin, ether hit fresh highs 1

SINGAPORE (Reuters) – Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.

The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.

Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12%.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

Ether futures contracts launched on derivatives exchange CME earlier this month.

(Reporting by Vidya Ranganathan; Editing by William Mallard)

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World Bank pushing for standard vaccine contracts, more disclosure from makers

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By Andrea Shalal

WASHINGTON (Reuters) – The World Bank is working to standardize COVID-19 vaccine contracts that countries are signing with drug makers, and is pushing manufacturers to be more open about where doses are headed, as it races to get more vaccines to poor countries, the bank’s president said on Friday.

World Bank President David Malpass told Reuters he expected the bank’s board to have approved $1.6 billion in vaccine funding for 12 countries, including the Philippines, Bangladesh, Tunisia and Ethiopia, by the end of March, with 30 more to follow shortly thereafter.

The bank is working with local governments to identify and fill gaps in distribution capacity, after they purchase vaccines under a $12 billion World Bank program, and also to standardize the contracts they are signing with manufacturers, he said.

The bank’s International Finance Corp, its private financing arm, has $4 billion to invest in expanding existing production plants or building new ones, including in developed countries, but needs more data on where current production is headed, he said.

“We are eager to be investing in new capacity, but it’s hard to do because you don’t know how much of the existing capacity is already committed to the various off-takers,” Malpass said in an interview with Reuters. New or expanded plants could be used to produce other types of vaccinations in the future, he said.

The bank’s funds could be used to expand plants in advanced economies, if the production was earmarked for developing nations, he said.

Malpass welcomed Friday’s pledge by the Group of Seven rich countries to intensify cooperation on the pandemic, saying it could help jump-start deliveries of vaccines to poorer countries, which are lagging far behind rich countries in getting shots in arms.

Data compiled by Our World In Data, a scientific online publication, showed Israel was leading the world in COVID-19 vaccinations, with nearly 82 of 100 people vaccinated, while India and Bangladesh reported less than one person per 100, Many African countries have not started at all.

Malpass said he was heartened by news about new vaccines coming down the road, and about Pfizer Inc and BioNTech SE seeking permission to store their vaccine at higher temperatures, which would ease another obstacle to deliveries in lower-income countries.

(Reporting by Andrea Shalal; Editing by Heather Timmons and Leslie Adler)

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Google to evaluate executive performance on diversity, inclusion

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By Paresh Dave

(Reuters) – Alphabet Inc’s Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist.

Timnit Gebru, co-leader of Google’s ethical artificial intelligence research team, said in December that Google abruptly fired her after she criticized its diversity efforts and threatened to resign.

Alphabet and Google Chief Executive Sundar Pichai ordered a review of the situation. While Google declined to share specific findings, the company announced on Friday it will engage human resources specialists during sensitive employee departures.

Pichai in June said that by 2025, Google aims to have 30% more of its leaders come from underrepresented groups, with a focus on Black, Latinx and Native American leaders in the United States and female technical leaders globally. About 96% of Google’s U.S. leaders at the time were white or Asian, and 73% globally were men.

As a result of the investigation, the company also expanded a commitment announced in June to devote more resources to retaining and promoting existing employees, including by expanding a team addressing disputes among workers and their managers.

The diversity component of executive performance reviews was not previously announced, and the company did not immediately share details about what would be measured and how pay would be affected.

Alphabet for years had rejected proposals from shareholders and employees to set diversity goals and tie executive pay to them.

Irene Knapp, a former Google employee who advocated for one such proposal at a 2018 shareholder meeting, said on Friday, “I am pleased that they met our demand from 2018, which was a bare minimum that should have been easy to do immediately.”

Evaluating managers on diversity goals is becoming more commonplace. McDonald’s Corp on Thursday tied executive bonuses to diversity.

(Reporting by Paresh Dave; Editing by Cynthia Osterman)

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