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Petalstone Group: Difference between revisions
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| hq_location_country = [[Caphiria]] | | hq_location_country = [[Caphiria]] | ||
| area_served = Worldwide | | area_served = Worldwide | ||
| key_people = {{ubl|Giovari Parofantone ( | | key_people = {{ubl|[[Alexandus Venio II]] (Co-Chairman)|[[Sando Porza]] (Co-Chairman)|Giovari Parofantone (Principal Executive)|Navia Reschetta (Vice Principal Executive)}} | ||
| products = Apparel, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, ships, telecommunications equipment, home appliances | | products = Apparel, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, ships, telecommunications equipment, home appliances | ||
| brands = | | brands = | ||
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| owner = {{ubl|[[Juno (company)|Juno]] (51%)}} | | owner = {{ubl|[[Juno (company)|Juno]] (51%)}} | ||
| parent = | | parent = | ||
| divisions = {{ubl|Electronics|Music Entertainment|Pictures Entertainment | | divisions = {{ubl|Electronics|Music Entertainment|Pictures Entertainment}} | ||
| subsid = [[Petalstone_Group#Organization|List of subsidiaries]] | | subsid = [[Petalstone_Group#Organization|List of subsidiaries]] | ||
}} | }} | ||
'''Petalstone Group | '''Petalstone Group''' (stylized as '''PΞTALSTONΞ GROUP'''), commonly known as '''Petalstone Inc.''', is a multinational electronics and media conglomerate based in [[Caphiria]]. It operates as a ''[[sodesteri|sodesterium]]'' - a special holding company with interlocking businesses in a cross-shareholding relationship which are controlled through a complex ownership structure. Petalstone has three main business divisions (Electronics, Pictures Entertainment, Music Entertainment) and activities in construction, consumer electronics, financial services, shipbuilding, and medical services. Petalstone is organized into 6 core business groups - [[Petalstone Electronics]], [[Petalstone Pictures]], [[Petalstone Music]], [[Petalstone Life]], [[Rosewood-Meranti Worldwide]], and [[Petalstone Heavy Industries]]. Petalstone Group also contains numerous privately-held companies that are loosely affiliated, such as Petalstone Engineering and Petalstone C&T (the world's 13th and 36th largest construction companies, respectively), [[Vescor Hospitality]] (an international luxury hospitality conglomerate), and [[Petalstone Medical Center]] (4th-largest medical center in [[Audonia]]), among others. | ||
Established in 1957, Petalstone initially focused on diverse sectors such as food processing, textiles, insurance, securities, and retail. The company ventured into the construction and shipbuilding industry in 1964 and subsequently branched out into electronics during the mid-1970s, these areas underpinning its growth. Following its | Established in 1957, Petalstone initially focused on diverse sectors such as food processing, textiles, insurance, securities, and retail. The company ventured into the construction and shipbuilding industry in 1964 and subsequently branched out into electronics during the mid-1970s, these areas underpinning its growth. Following its IPO in 1988, Petalstone expanded its global presence, with its electronics and entertainment sectors emerging as primary income sources since 2001. Between 2002-2008, [[Juno (company)|Juno]] - a [[Sodesterium|private corporate entity]] owned by business tycoons [[Alexandus Venio II]] and [[Sando Porza]] - initiated a gradual hostile takeover of many of Petalstone's loosely-affiliated organizations, thereby acquiring a controlling interest in Petalstone Inc. In late 2009, Juno announced its intent to purchase a majority stake in Petalstone, which was approved by regulators on 1 November 2011. Under the leadership of Venio II and Porza, Petalstone went through a global reorganization and restructuring process, resulting in the merging and consolidation of its diverse range of business interests. Subsequently, Petalstone shifted to focus on growing its existing portfolio and on "promoting" its companies to go pubic. Since 2024, Petalstone has promoted three of its companies via reverse merger: Petalstone Life Insurance (top ten-largest insurance company in the world; Rosewood-Meranti Worldwide (world's 7th largest advertising agency); and Petalstone Heavy Industries (world's 3rd-largest machinery, electric, engineering firm). | ||
Globally, | Globally, its electronics business unit is one of the largest manufacturers of televisions, mobile phones, memory chips, and semiconductor chips, as well as the second-largest technology company in terms of revenue; Petalstone Music is one of the Big 3 global music corporations, with artists such as [[Adriana Dutra]], [[Zenza]], [[CHRONICLE]], and owning the publishing rights to over 5 million compositions; Petalstone Pictures is one of the global Big Five film production/distribution companies with revenues of $10 billion and have released no less than two of the highest-grossing films worldwide per year since 2027. Petalstone holds the fifth-highest global brand value, ranks third in the entertainment business sector, is among the leaders in semiconductor sales, and, since 2020, stands as the third-largest television manufacturer worldwide. Since its acquisition by Juno, Petalstone has undertaken numerous environmental initiatives, such as pledging to cease the use of coal and transition to 100% renewable energy. Additionally, it has set an industry precedent by becoming the first electronics manufacturer to completely phase out the use of polyvinyl chloride (PVC) and brominated flame retardants (BFRs) across all its products. | ||
Venio II and Porza serve as co-chairs of Petalstone Group while Giovari Parofantone has been the company's Principal Executive since 2020. | Venio II and Porza serve as co-chairs of Petalstone Group while Giovari Parofantone has been the company's Principal Executive since 2020. | ||
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Phase II of Vision MMXX saw the reorganization of Petalstone Electronics, its flagship company. The company's logistics and operations were streamlined, and various divisions across Petalstone Group such as digital imaging, existing display, IT solutions, wireless, networking, semiconductor, and more were merged into Petalstone Electronics. Petalstone Music and Petalstone Pictures went through similar streamlining processes. | Phase II of Vision MMXX saw the reorganization of Petalstone Electronics, its flagship company. The company's logistics and operations were streamlined, and various divisions across Petalstone Group such as digital imaging, existing display, IT solutions, wireless, networking, semiconductor, and more were merged into Petalstone Electronics. Petalstone Music and Petalstone Pictures went through similar streamlining processes. | ||
Phase III Vision MMXX came in 2016, with the acquisition of a prominent textile firm, [[Cambicenti Company]]. This led to Petalstone Group's fashion, food, housing, leisure, and bio businesses merging with its Engineering & Construction, Trading & Investment, Fashion, and Resort & Construction subsidiaries. The resulting | Phase III Vision MMXX came in 2016, with the acquisition of a prominent textile firm, [[Cambicenti Company]]. This led to Petalstone Group's fashion, food, housing, leisure, and bio businesses merging with its Engineering & Construction, Trading & Investment, Fashion, and Resort & Construction subsidiaries. The resulting mergers established 6 new firms - Petalstone Engineering, Petalstone Construction, Petalstone T&I (Trading & Investment), Petalstone M&C (Materials & Chemicals), Petalstone H&B (Healthcare and Biotechnology), and Petalstone RST (Research, Science & Technology). | ||
Phase IV of Vision MMXX started in 2018 with the formation of Petalstone Life Insurance, which originally provided life, health insurance, and annuities to its employees (through Juno, it would additionally represent employees of [[Quicksilver Industries]]). Petalstone Life remained private until late | Phase IV of Vision MMXX started in 2018 with the formation of Petalstone Life Insurance, which originally provided life, health insurance, and annuities to its employees (through Juno, it would additionally represent employees of [[Quicksilver Industries]]). Petalstone Life remained private until late 2023 when it was announced that it would go public via a reverse merger. Petalstone Life quickly grew and attained a market-leading position after just 18 months of operations and is in the top ten-largest life insurance companies in the world. | ||
====== Board of Directors ====== | ====== Board of Directors ====== | ||
{{div col|colwidth=35em}} | {{div col|colwidth=35em}} | ||
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|[[Petalstone Electronics|Petalstone Electronics Inc.]] | |[[Petalstone Electronics|Petalstone Electronics Inc.]] | ||
|Petalstone Engineering | |Petalstone Engineering LC | ||
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|[[Petalstone Music|Petalstone Music Entertainment Inc.]] | |[[Petalstone Music|Petalstone Music Entertainment Inc.]] | ||
|Petalstone | |Petalstone Construction LC | ||
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|[[Petalstone Pictures|Petalstone Pictures Entertainment Inc.]] | |[[Petalstone Pictures|Petalstone Pictures Entertainment Inc.]] | ||
| | |Petalstone Trading & Investment LC | ||
|- | |- | ||
|Petalstone Life Insurance Inc. | |Petalstone Life Insurance Inc. | ||
|Petalstone | |Petalstone Materials & Chemicals LC | ||
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|Rosewood-Meranti Worldwide | |Rosewood-Meranti Worldwide | ||
|Petalstone | |Petalstone Healthcare and Biotechnology LC | ||
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|Petalstone Heavy Industries | |Petalstone Heavy Industries | ||
|Petalstone Research | |Petalstone Research, Science & Technology LC | ||
|- | |- | ||
| rowspan=" | | rowspan="3" | | ||
|Petalstone | |Petalstone Financial Services LC | ||
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| | |[[Certi Resorts|Vescor Hospitality]] | ||
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|- | |- | ||
|Petalstone Center of Innovation | |Petalstone Center of Innovation | ||
|} | |} | ||
=== Listed companies === | === Listed companies === | ||