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Cereplast, Inc. Strikes Deal with RI.ME. Masterbatch to Supply Bioplastics Resins for European Market
Cereplast, Inc. (NASDAQ: CERP) (“Cereplast,” or the “Company”), a leading manufacturer of proprietary bio-based, compostable and sustainable plastics, announced today that it has entered into a multi-million dollar contract with RI.ME. Masterbatch S.r.l., (“RI.ME.”) based in Mozzate (CO), Italy, to supply bioplastic resins for use in its masterbatch process for adding colorant to bulk, uncolored resins. The new agreement supports RI.ME.’s commitment to offering its customers sustainable, environmental solutions in the design and production of masterbatches. “We are excited that RI.ME. has chosen Cereplast to provide bioplastic resins for use in its masterbatching process for its clients throughout Europe,” said Mr. Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “This was made possible by RI.ME.’s success in using our materials in its masterbatching process, and by the excellent performance of Cereplast resins on extrusion lines designed for HDPE, LDPE or PVC without any kind of technical investments.
Argon ST Announces Agreement to be Acquired by The Boeing Company
Argon ST [NASDAQ: STST] and The Boeing Company [NYSE: BA] today announced that they have entered into an agreement for Boeing’s acquisition of Argon ST in an all cash tender offer and merger for $34.50 per share, or approximately $775 million, net of cash acquired. The agreement to acquire Argon ST, a leading developer of command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance (C5ISR), advances Boeing's growth strategy and expands its capabilities to address the C5ISR, cyber and intelligence markets. “We’re very pleased to join The Boeing Company,” said Dr. Terry Collins, chairman and chief executive officer of Argon ST. “Our employee teams know each other well, and we are excited to now continue our combined support to our warfighters and first responders as one company.”
Gerdau S.A. Proposes to Acquire the Minority Shares in Gerdau Ameristeel Corporation
(Note: all dollar amounts in this press release are expressed in United States dollars) Gerdau Ameristeel Corporation (NYSE: GNA, TSX: GNA) and Gerdau S.A. (Bovespa: GGBR, NYSE: GGB, Latibex: XGGB) announced today that Gerdau S.A. has delivered to the Board of Directors of Gerdau Ameristeel a proposal to acquire all of the shares of Gerdau Ameristeel Corporation that Gerdau S.A. does not already own for US$11.00 cash per share. This proposal values Gerdau Ameristeel's minority held shares at approximately US$1.6 billion. Gerdau S.A. already owns 66.3% of the outstanding shares of Gerdau Ameristeel and intends to fund the acquisition and related expenses through its existing cash resources and committed financing.
Ultralife Corporation Receives $21 Million SATCOM-On-The-Move System Orders
Ultralife Corporation (NASDAQ: ULBI) has received orders valued at approximately $21 million for its SATCOM-On-The-Move systems from a U.S. defense contractor for use in MRAP armored vehicles. Deliveries are expected to begin this quarter and be completed in the fourth quarter of 2010. “As one of the preferred vendors for critical defense communications systems, we are well positioned to benefit from ongoing demand by the U.S. military for SATCOM systems for use in various military vehicle programs. Because of this standing, our battle-tested, radio independent SATCOM systems have been once again selected for use in MRAP vehicles," said John D. Kavazanjian, president and chief executive officer. “These orders were not contemplated in our base line revenue plan for 2010 which called for revenue of $177 million. We will provide investors with an update on our outlook for 2010 operating profit and Adjusted EBITDA in our second quarter earnings call.”
Power-One Posts Strong First Quarter 2010 Results
Power-One, Inc. (NASDAQ: PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the first quarter 2010. Power-One recorded net sales of $152 million for the first quarter ended April 4, 2010, an increase of 56% from the first quarter 2009. Net income attributable to common stockholders for the first quarter was $3.8 million, or $0.04 per diluted share, compared to a net loss of $61 million, or $0.70 per share for the same period last year. Renewable energy products again recorded strong sequential revenue gains in the first quarter 2010, with positive demand trends continuing in 2010. The company’s renewable energy products posted a record $82 million in revenue for the first quarter 2010, equating to a year-over-year increase of 556% from $13 million in the first quarter 2009.
Tri-Tech Holding Full Year 2009 Revenue Up 99% to $16.8M; Net Income Up 127% to $3.8M; EPS $0.92 vs. $0.48
Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading Chinese project development and management company that engineers, manages and monitors China's municipal sewer systems, natural waterways and resources, announced today that revenue for the fiscal year ended December 31, 2009 increased 99% to $16.8 million from $8.4 million in 2008. Diluted earnings per share for the year were $0.92 based on net income of $3.8 million. This compares with net income of $1.7 million or $0.48 diluted EPS in 2008.
Conolog Announces Advance Orders for 280 Systems and Other Equipment Valued at over $1,900,000
Conolog Corporation (NASDAQ: CNLG), an engineering and design company that provides digital signal processing solutions to global electric utilities, announced today receiving advance orders for its PDR systems and other communication equipment valued at over $1,900,000 with deliveries to be scheduled over the next fiscal year. Chairman of Conolog Robert Benou stated, “We are gratified that our new products and legacy components are increasing in demand.” Benou added, “The Company will continue to control its production efforts and look forward to the production and marketing of our ‘Glow Worm’ and the design and introduction of the CM100 Multiplexer.”
Power-One Posts Solid Fourth Quarter 2009 Results
Power-One, Inc. (NASDAQ: PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the fourth quarter 2009. The Company’s ongoing strategic initiatives, including growth strategies and a continued focus on efficiencies and expense controls, helped deliver expanded gross and operating margins, as well as positive operating cash flow and net income. Power-One recorded net sales of $142 million for the fourth quarter ended January 3, 2010, an increase of 9% from the fourth quarter 2008. Net income attributable to common shareholders for the fourth quarter was $5.4 million, or $0.05 per diluted share, compared to a profit of $1.7 million, or $0.02 per diluted share for the same period last year.
Conolog Announces Advance Orders for 280 Systems and Other Equipment Valued at over $1,900,000
Conolog Corporation (NASDAQ: CNLG), an engineering and design company that provides digital signal processing solutions to global electric utilities, announced today receiving advance orders for its PDR systems and other communication equipment valued at over $1,900,000 with deliveries to be scheduled over the next fiscal year. Chairman of Conolog Robert Benou stated, “We are gratified that our new products and legacy components are increasing in demand.” Benou added, “The Company will continue to control its production efforts and look forward to the production and marketing of our ‘Glow Worm’ and the design and introduction of the CM100 Multiplexer.”
Conolog Announces Start of Production of its GlowWorm Fiber Optic Detector
Conolog Corporation (NASDAQ: CNLG), an engineering and design company that provides digital signal processing solutions to global electric utilities, announced today that it has completed field testing and started production/marketing of its “GlowWorm” fiber optic detector that may be used in any fiber optic line or network without the need to cut the cable. President of Conolog Marc Benou stated, “Our 'GlowWorm' surpassed our expectations in field tests and demonstrated its capabilities in fiber optic networks as well as lines. “This application of passive detection technology is unique to Conolog and will allow utilities and other customers to quickly determine the source of a fiber optic signal failure.”
China ACM Wins Xi'an High-Speed Railway Concrete Service Contract
China Advanced Construction Materials Group, Inc. (Nasdaq: CADC), ("China ACM" or the "Company") a leading provider of ready-mix concrete in China, today announced that the Company has signed a definitive contract to provide its ready-mix concrete service to the high-speed railway project between Xi'an and Ankang, the largest city in southern Shanxi Province. China ACM will provide technical counseling for the production of 270,000 cubic meters of ready-mix concrete. Equipment for the portable mixers has arrived on site and production will commence in February 2010. Duration of the project is estimated to be 20 months. Revenues for this contract are an estimated $3 million with an estimated $800,000 net income.
CAE wins military contracts valued at more than C$100 million
- Royal Netherlands Air Force expands CH-47 Chinook training at CAE's MSHATF - German Army enhances CAE GESI command and staff training system (TSX: CAE)(NYSE: CAE) - CAE today announced a series of military contracts with the Netherlands, Germany, and other global defence forces. The contracts, valued at more than C$100 million, include a major contract with the Royal Netherlands Air Force (RNLAF) to expand CH-47 Chinook helicopter training at CAE's Medium Support Helicopter Aircrew Training Facility (MSHATF) in the United Kingdom. "Our MSHATF continues to be the most advanced helicopter training facility of its type in the world, and a perfect example of CAE's capabilities as a training systems integrator," said Martin Gagne, CAE's Group President, Military Products, Training and Services.
A. Schulman Signs Definitive Agreement to Acquire ICO, Inc.
-- Acquisition would enhance A. Schulman's position in global rotomolding and masterbatch markets -- Combined stock and cash transaction valued at approximately $191.4 million -- Transaction requires approval from ICO shareholders and customary regulatory approvals A. Schulman, Inc. (Nasdaq-GS: SHLM) announced today that it has signed a definitive agreement to acquire all of the outstanding stock of ICO, Inc. (Nasdaq: ICOC), pending approval of the transaction by ICO shareholders and receipt of customary regulatory approvals.
Digital Power Corporation, Through Its Subsidiary Gresham, Wins Major Defense Contract in Australia Over $2 million project to supply helicopter
Digital Power Corporation (DPC) announced that its wholly-owned Salisbury, UK subsidiary, Digital Power Limited (DPL), has been awarded a major contract for the Australian Navy. DPL operates under the name Gresham Power Electronics (Gresham). Gresham has been selected to supply helicopter starting rectifiers and DC power distribution systems for the new Air Warfare Destroyer (AWD), which will be built by Australia's largest specialized defense shipbuilding organization. The AWD is based on the existing F100 frigate platform, and already is in service with the Spanish navy. It is a baseline design that requires minimal modifications for Australian use. The AWD incorporates a modified version of the power system models that Gresham has provided to Spain in support of its F-100 program.
Sypris Electronics Awarded Multi-Year, $200 Million IDIQ Contract from the U.S. Department of Defense
Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/NM: SYPR), announced today that it has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract from the United States Department of Defense (DoD) for its RASKL(R) (KIK-30) electronic key fill device. This contract is in support of the DoD's modernization effort to replace the aging KYK-13 key fill device. The product was designed and will be produced at the Sypris Electronics facility located in Tampa, Florida. The RASKL IDIQ contract is for a five-year period with a not-to-exceed value of $200 million. The IDIQ contract is the U.S. Government's vehicle for its Services and Agencies to order the RASKL and product ancillaries.
CAE wins contracts for four full-flight simulators and for update and relocation services valued at approximately C$55 million
CAE ( CAE ) has signed contracts valued at approximately C$55 million at list prices to design and manufacture four full-flight simulators (FFSs) and related training devices, and to provide simulator updates and relocations. The FFS contracts are with Malaysia Airlines, Kenya Airways, Korean Air, and Mount Cook Airlines and bring the total FFS sales that CAE announced in fiscal year 2010 to 10. "The civil aerospace market continues to be challenging; however, CAE's diversified portfolio allows us to offer airlines a range of aviation training solutions tailored to our airline customers' requirements," said Jeff Roberts, CAE's Group President, Civil Simulation Products, Training, and Services. "We are delighted that new customers Malaysia Airlines, Kenya Airways, and Mount Cook Airlines have placed their trust and confidence in CAE for their full-flight simulator needs.
CAE awarded military contracts valued at more than C$75 million
CAE (TSX: CAE)(NYSE: CAE) today announced a series of military contracts awarded over the past two months valued at more than C$75 million. Included in this total are a number of defence and professional services contracts to support military and homeland security programs in Canada and the United Kingdom as well as a range of other military products and services contracts. "Growth in our defence and professional services segment continues to be an area of strategic importance for CAE, and we continue to see opportunities for extending the use of modelling and simulation to analysis, training and operational systems," said Martin Gagne, CAE's Group President, Military Simulation Products, Training and Services. "Our acquisition of xwave's Defence, Security, and Aerospace business earlier this year has brought CAE a range of new capabilities in areas such as electronic warfare and tactical mission training, which we are now beginning to harness."
Sinoenergy Corporation Signs Merger Agreement With Skywide Capital Management Limited
Sinoenergy Corporation (Nasdaq: SNEN), developer and operator of retail compressed natural gas (CNG) filling stations in the People's Republic of China and a manufacturer of CNG transport truck trailer, CNG filling station equipment and CNG fuel conversion kits for automobiles, today announced that, on October 12, 2009, the Company entered into an agreement with Skywide Capital Management Limited, pursuant to which the Company will be merged with and into Skywide. Upon the effectiveness of the merger, each issued and outstanding share of the Company's common stock, other than shares owned by Skywide, will automatically be converted into the right to receive $1.90 per share. Skywide, which is owned by the Company's chairman, Mr. Tianzhou Deng, and its president, Mr. Bo Huang, is the Company's largest shareholder, owning approximately 39.06% of the Company's outstanding common stock.
Astrotech Reports Financial Results for Fourth Quarter and Fiscal Year 2009 and Announces Exploration of Strategic Alternatives
Astrotech Corporation (NASDAQ: ASTC) today announced financial results for its fourth quarter and fiscal year ended June 30, 2009. “This reporting period commemorates our return to profitable earnings and the completion of the turnaround for Astrotech that started in January 2007,” said Thomas B. Pickens III, Chairman and CEO. “The Company is now on a firm foundation and I feel very confident about the future of Astrotech and its expected earnings going forward.” Fourth Quarter Results The Company posted a fourth quarter fiscal year 2009 net income of $2.6 million, or $0.15 per diluted share on revenue of $10.4 million compared with a fourth quarter fiscal year 2008 net loss of $1.5 million, or $(0.11) per diluted share on revenue of $6.1 million.
GenTek Inc. Agrees to Be Acquired by American Securities LLC for $38.00 Per Share in Cash
GenTek Inc. (NASDAQ: GETI), a leading provider of specialty inorganic chemical products and valve actuation systems and components for automotive and heavy duty/commercial engines, announced today that it has entered into a definitive agreement to be acquired by ASP GT Acquisition Corp.(ASP), a wholly-owned subsidiary of investment funds managed by American Securities LLC, a private equity firm. Under the terms of the merger agreement, ASP will commence a tender offer to purchase for cash all of the outstanding shares of GenTek common stock at a price of $38.00 per share. The transaction is valued at $673 million consisting of equity value of approximately $411 million plus the assumption of net debt and similar liabilities of approximately $262 million. |
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