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Founded Year

2019

Stage

Incubator/Accelerator | Alive

Total Raised

$300K

About Ancora

Ancora develops and markets digital tools for manufacturing line workers designed to be used by people. It connects with planning and management systems to provide industrial workers with the digital information they need at all times and captures data throughout the manufacturing process. The company was founded in 2019 and is based in Vigo, Spain.

Headquarters Location

Bouzas Port Area s / n Consorcio Building ZFV

Vigo, 36208,

Spain

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Latest Ancora News

Ancora steps up takeover bid of Norfolk Southern

Feb 22, 2024

The investment group has described CEO Alan Shaw as “unfit” for the role and proposed eight people for membership of the board. Share this article Norfolk Southern defended its recent record but said it would present its nomination committees assessment of Ancora’s nominees to shareholders. Credit: Norfolk Southern Investment group Ancora Holdings has proposed eight candidates for the board of US railroad Norfolk Southern as it steps up its bid to take control of the company. Ancora proposed a new CEO and COO for the company with its nominations as it aims to oust Alan Shaw as head of the railroad following its acquisition of a $1bn stake in the company in plans first reported in January. Go deeper with GlobalData The group said it had made the proposals after “good faith” discussions with Norfolk Southern’s board where it had described Joyce as “unfit” for the role but had seen the company look for the support of regulators and customers ahead of a planned fight against Ancora’s goals. A statement said: “The bottom line is that it is time to actually move Norfolk Southern forward. Moving ahead starts with identifying the right destination. “Our slate and proposed management team believe they have the experience and strategy required to turn Norfolk Southern into a safer, more sustainable railroad that is growing profitably while also yielding more stability for customers and employees.” See Also: How well do you really know your competitors? Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. Not ready to buy yet? Download a free sample We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form By GlobalData Submit Tick here to opt out of curated industry news, reports, and event updates from Railway Technology. I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the privacy policy Submit and download In response to the proposals, Norfolk Southern released a lengthy statement defending its performance against Ancora’s description of the company as “the worst Class I railroad”, especially in regard to its response to the derailment in East Palestine, Ohio , and confirming that discussions had taken place on Ancora’s nominations. It said: “Norfolk Southern delivered record annual revenue in 2022. Indeed, we delivered our best intermodal service in over three years in fourth quarter 2023 and grew volumes in intermodal, which is our most service-sensitive business, by 5% on a year-over-year basis.” “The board regularly evaluates its composition and will continue its careful review of Ancora’s nominees with a focus on advancing our goal of building the safe, reliable, and resilient railroad our customers and shareholders expect.” It added. The railroad’s board is set to present its recommendation on Ancora’s nominees in its definitive proxy statement which will be mailed to all shareholders ahead of its, yet to be scheduled, 2024 Annual Meeting. Sign up for our daily news round-up! Give your business an edge with our leading industry insights.

Ancora Frequently Asked Questions (FAQ)

  • When was Ancora founded?

    Ancora was founded in 2019.

  • Where is Ancora's headquarters?

    Ancora's headquarters is located at Bouzas Port Area s / n, Vigo.

  • What is Ancora's latest funding round?

    Ancora's latest funding round is Incubator/Accelerator.

  • How much did Ancora raise?

    Ancora raised a total of $300K.

  • Who are the investors of Ancora?

    Investors of Ancora include Bind 4.0, Unirisco Galicia, XesGalicia, Vigo Activo, Francisco Pino and 3 more.

  • Who are Ancora's competitors?

    Competitors of Ancora include Poka and 4 more.

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