ITACONIX REPORTS RECORD HALF-YEAR REVENUE

Sustainable polymer innovator Itaconix (AIM: ITX, OTCQB: ITXXF) has announced record half-year results for the period ending June 30, 2025, with revenues surging 73% year-on-year to $4.8 million.

The Stratham-based company, which develops plant-based ingredients to decarbonise everyday consumer products, credited the growth to strong performance in its Performance Ingredients business, the launch of BIO*Asterix, and increasing traction for its SPARX solutions.

CEO John R. Shaw said the milestone reflects the company’s emergence as a key supplier of sustainable ingredients, stating: “With a strong balance sheet, a proprietary technology platform, and a robust pipeline of opportunities, we are confident in delivering sustained growth, margin expansion, and long-term shareholder value.”

Financial highlights at the half-year mark include: revenue is $4.8 million, up from $2.8 million in H1 2024; gross profit is $1.7 million, with a 35% overall margin; adjusted EBITDA improved to $(0.2) million from $(1.0) million; loss after tax narrowed to $(0.4) million; and cash and investments is $5.7 million.

The company also highlighted an extended partnership with Croda to 2030, the launch of ZINADOR 22D for dry powder detergents, and new product development pipelines with leading detergent brands.

ALBANY ENGINEERED COMPOSITES EXTENDS PROGRAMS WITH LOCKHEED MARTIN THROUGH 2029

Rochester, NH-based Albany International Corp. (NYSE: AIN) announced earlier this month that its subsidiary Albany Engineered Composites, Inc. (AEC) has been awarded multiyear contracts from Lockheed Martin’s Missiles & Fire Control business, extending its support of the JASSM and LRASM missile programs at its Salt Lake City, Utah, facility. AEC will continue production of unique composite components for the programs under these multiyear contracts, using its advanced braiding and resin transfer molding technologies.

AEC President Chris Stone commented, “The extension of these programs with Lockheed is representative of the existing strategic relationship between our two companies across several fixed wing fighter aircraft, rotorcraft and missile programs. We look forward to exploring additional opportunities to provide Lockheed with advanced composite components utilizing our state-of-the-art composite design and manufacturing capabilities.”

LIAM CAFFREY TO BECOME CEO OF WHITE MOUNTAINS IN 2026

White Mountains Insurance Group, Ltd. (NYSE: WTM), based in Hanover, announced that its board of directors has elected Liam Caffrey as CEO, effective January 1, 2026. Caffrey, who currently serves as president and chief financial officer, will also join the Board at that time.

He will succeed current CEO Manning Rountree, who is set to retire from his role and from the Board on December 31, 2025. Caffrey joined White Mountains as CFO in 2022 after nine years in finance and operating roles at Aon PLC, and earlier experience as a principal at McKinsey & Company.

Rountree will remain with the company as a senior advisor through January 1, 2028. He will continue to serve on the boards of several operating subsidiaries and advise senior management.

Also effective January 1, 2026, Michael Papamichael, currently managing director and deputy CFO of White Mountains Capital LLC, will become chief financial officer. Papamichael rejoined the company in 2020 following senior roles at Hamilton Insurance Group and Sirius Group.

Giles Harrison, executive vice president and chief strategy officer, will be appointed president. Harrison joined White Mountains in June 2024 from Zurich Insurance Group, where he most recently served as CFO of Farmers Group, Inc.

Upon news of the role transition, Rountree said, “It has been a privilege to serve White Mountains over these many years and to have led a terrific team of talented and dedicated professionals. Liam and I have worked together closely over the past four years and jointly planned for this succession. He is the right person to lead the Company going forward. With our business and our team in great shape, I decided now was the right time for this transition. White Mountains’ future is bright, and I look forward to advising the team as they pursue the opportunities ahead.”