Highway Holdings Receives Multi-Year OEM Order for Vacuum Cleaner Components
Highway Holdings Limited (HIHO) today announced it received a multi-year order for vacuum cleaner components valued at approximately $400,000 per year from a leading international appliance manufacturer.
Production has already commenced, and an initial order of approximately three million components has been delivered to the customer for vacuum cleaner kits that require nine different plastic parts manufactured by Highway Holdings.
"We are gratified by this leading OEM's confidence in our capabilities and quality and look forward to additional opportunities to work together," said Roland Kohl, president and chief executive officer of Highway Holdings.
Cleantech Solutions International Becomes Certified Supplier to China's Oil and Natural Gas Industry
Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other clean technology industries and dyeing and finishing equipment to the textile industry, today announced that it has become a certified supplier of components to China Petroleum and Chemical Corporation (Sinopec) and China National Petroleum Corporation (CNPC).
In May 2013, the Company delivered protoypes to Sinopec and CNPC of forged flanges and pipes, which are components used in oil and natural gas onshore and offshore drilling and refinery equipment. The Company's subsidiary, Wuxi Fulland Wind Energy Equipment Co., Ltd., has also received the necessary third party certifications, stating that its flanges and pipes are in conformity with the applicable standards in regard to axis shape, circular shape, tubular shape and forging processing.
Cleantech Solutions International Reports Fourth Quarter and Full Year 2012 Results
Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar, dyeing and finishing equipment and other clean technology industries, today announced its financial results for the three months and year ended December 31, 2012.
"The year 2012 was marked by a challenging environment in China that impacted capital spending and demand from customers in our key end markets, particularly during the first half of the year.
Synthesis Energy Systems and GE to Jointly Market SES Gasification and GE Aeroderivative Gas Turbine Technologies for Small Scale Power Generation Solution
Synthesis Energy Systems, Inc. ("SES") (SYMX), a global energy and gasification technology company, and GE Packaged Power, Inc., a subsidiary of General Electric Company ("GE") have agreed to jointly evaluate and market a small scale power generation unit combining SES' gasification technology with GE's aeroderivative gas turbines. This application marketing agreement will focus on regions of the world where conversion of non-conventional feedstock sources such as lignite and coal wastes into synthesis gas fuel via SES' technology may be advantaged over conventional gas turbine fuel sources such as natural gas and fuel oil.
Quinpario Partners Discloses Group Ownership Of 10.13% In Zoltek
Sends Letter to Chairman & CEO to Solicit Cooperation in Working with Quinpario to Create Long-Term, Sustainable Shareholder Value at Zoltek Files Presentation Candidly Detailing Zoltek's Commercial and Financial Underperformance Delivers Letter to Zoltek Requesting a Special Meeting of Shareholders to Remove and Replace All Existing Board Members
Quinpario Partners LLC announced today the formation of a group consisting of highly competent and reputable investors and director candidates with respect to Quinpario's investment in Zoltek Companies, Inc. ("Zoltek" or the "Company") (ZOLT).
Ferro Confirms Prior Receipt and Rejection of Unsolicited Proposal from A. Schulman
Advises Shareholders to Take No Action at This Time
Ferro Corporation (NYSE: FOE, the “Company”) today confirmed that its Board of Directors had previously received and rejected an unsolicited proposal from A. Schulman, Inc. (SHLM) to acquire all of the outstanding shares of Ferro common stock for $6.50 per share in cash and stock.
Ferro’s Board of Directors, in consultation with financial and legal advisors, unanimously determined that the A. Schulman proposal is not in the best interests of Ferro shareholders and that continued execution of the Company’s value creation strategy will deliver greater value to Ferro shareholders.
Rocky Mountain Dealerships Inc. (TSX: RME, OTCQX: RCKXF) Announces Agreement to Acquire Manitoba Agriculture Equipment Dealership
Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has entered into an agreement (the "Agreement") to purchase 100% of the issued and outstanding shares of MJ Solomon Ltd., operating as "Murray's Farm Supplies" ("Murray's"). Murray's is a dealer of various equipment brands including Bourgault, MacDon, and other short-lines. Murray's operates two dealerships located in Shoal Lake and Russell, Manitoba.
For the most recent fiscal year, Murray's had revenues of approximately $15 million. This acquisition is expected to close effective February 1, 2013, and be completed through existing cash or credit facilities.
airBaltic Signs Firm Order for up to 20 CSeries Airliners Latvian airline transitions to an all-Bombardier fleet with the addition of CS300 jetliners to its existing fleet of Q400 NextGen aircraft A video is available at http://youtu.be/KNh-L8ZKAEM
Bombardier Aerospace announced today that airBaltic has signed a firm purchase agreement to acquire 10 all-new Bombardier CS300 airliners. The Riga, Latvia-based airline also has purchase rights on a further 10 CS300 aircraft. The purchase agreement represents the conversion to firm orders of a Letter of Intent (LOI), announced at the Farnborough Air Show on July 10, 2012. The LOI also included the purchase rights on the 10 additional CS300 aircraft.
AeroVironment, Inc. Announces Fiscal 2013 Second Quarter Results
AeroVironment, Inc. (AVAV) today reported financial results for its second quarter ending October 27, 2012.
"Strong second quarter performance, including a 30 percent increase in year-over-year diluted earnings per share to $0.39, resulted from continued demand for our market-leading solutions, favorable product mix and our focus on cost management. Revenue of $80 million included a majority, but not all of the international small UAS orders that had been working through the export administrative process," said Tim Conver, AeroVironment chairman and chief executive officer. "Because of contracting delays on key programs, revenue in our second half will be more heavily weighted to our fourth quarter, historically the highest revenue quarter of our year.
Cleantech Solutions Receives $2.2 million Purchase Orders for Airflow Dyeing Machines
Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other clean technology industries, today announced that the Company has received new and follow-on purchase orders for its airflow dyeing machines and related components from its new and existing domestic customers.
The purchase orders provide for Cleantech Solutions to deliver a total of 23 units of airflow dyeing machines and components for a total purchase price of RMB13.8 million (approximately $2.2 million).
TPC Group Inc. Receives Non-Binding Proposal From Innospec Inc. and Blackstone
TPC Group Board Determines That the Proposal is Reasonably Expected to Lead to a Superior Proposal
TPC Group Inc. (TPCG), a leading fee-based processor and service provider of value-added products derived from niche petrochemical raw materials, today announced that it has received a non-binding proposal to be acquired by Innospec Inc. (IOSP) ("Innospec"). As part of this proposal, Innospec would pursue an acquisition of all of TPC Group's common shares for an all-cash purchase price in the range of $44--46 per share. The proposal is subject to certain conditions, including, among others, securing requisite debt financing, completion of due diligence and receipt of internal approvals. Equity financing for the proposed acquisition will be provided by a fund, Blackstone Capital Partners VI, L.P., managed by Blackstone on behalf of its private equity investors.
eMagin Announces Record Second Quarter 2012 Revenues
OLED Microdisplay Sales Rise 20 Percent Adjusted EBITDA of $1.6 Million, Up 38 Percent
eMagin Corporation (NYSE MKT: EMAN), the leader in OLED technology for the design and manufacture of OLED microdisplays for high resolution imaging products, today announced financial results for the second quarter of 2012 ended June 30, 2012.
“I am pleased to report record revenue of $8.6 million, fueled by a 20 percent increase in display sales,” stated Andrew G. Sculley, president and chief executive officer. “We captured the highest level of new business bookings ever, which drove our backlog to new highs.
ESI Announces First Quarter Fiscal 2013 Results Revenues
Electro Scientific Industries, Inc. (ESIO), a leading supplier of innovative laser-based manufacturing solutions for the microtechnology industry, today announced results for its fiscal 2013 first quarter ended June 30, 2012. Financial measures are provided on both a GAAP and non-GAAP basis.
Revenue in the first quarter was $59.0 million, compared to $45.5 million in the fourth quarter of 2012 and $77.0 million in the first quarter of last fiscal year. On a GAAP basis, net loss was $0.9 million or $0.03 per share, compared to a loss of $7.7 million or $0.26 per share in the prior quarter. On a non-GAAP basis, first quarter net income was $1.9 million or $0.06 per diluted share, compared to a loss of $1.9 million or $0.06 per share in the fourth quarter of fiscal 2012 and income of $7.9 million or $0.27 per diluted share in the first quarter of fiscal 2012.
Loral to Sell Space Systems/Loral to MDA in a Transaction That Delivers More Than US$1 Billion of Pre-Tax Value to Loral
Loral Space & Communications Inc. (LORL) today announced its entry into a definitive agreement with MacDonald, Dettwiler and Associates Ltd. (MDA.TO) related to the sale of Loral's wholly-owned subsidiary, Space Systems/Loral (SS/L). The transaction provides for Loral to receive consideration from MDA of US$875 million and cash dividends and other payments from SS/L which are expected to be in excess of US$135 million under a formula described below.
Clean Seed Capital Group Signs Memorandum of Understanding to Acquire a Controlling Interest in the 3rd Largest Agro-Processing Company in Ghana, Africa
Clean Seed Capital Group ("Clean Seed" or the "Company") (TSX VENTURE:CSX) is pleased to announce that it's recent trip to Ghana has resulted in the signing of a Memorandum of Understanding ("MOU") with 3K&A Industries Limited ("3K&A"), a private agro-processing company based in Ghana, Africa.
Both the Company and 3K&A wish to collaborate together to achieve their mutual objectives in establishing an integrated sustainable agriculture program in Ghana, incorporating commercial No-Till farming, agro-processing (vegetable oil, seed cake, poultry feed and other ancillary products) and the deployment of the Company's proprietary No-Till farming equipment. The Company is currently preparing a formal agreement that will specifically outline the details of the MOU and anticipates fulfilling the final document in the near future.
Deer Consumer Products, Inc. Announces Record 2011 Financial Results; Provides 2012 Growth Outlook 2011 revenue of $226.7 million, an increase of 28.9% from 2010 2011 net income of $39.8 million, an increase of 31% from 2010 Fully diluted earnings per share of $1.18, an EPS increase of 31% from 2010 Anticipates favorable Chinese domestic consumer market environment for continued growth in 2012
Deer Consumer Products, Inc. (Nasdaq: DEER ) (website: http://www.deerinc.com/), a leading provider of "DEER" branded household consumer products to Chinese consumers and a leading vertically integrated manufacturer of small household and kitchen appliances for global customers, announces today record financial results for the year ended December 31, 2011.
City of Madison Water Utility Selects Itron for Water AMI Solution
Itron, Inc. (NASDAQ: ITRI - News) announced today that the City of Madison, WI Water Utility will implement Itron’s advanced metering infrastructure (AMI) for Project H2O, the City’s program to automate the collection and analysis of water meter reads. The solution will allow Madison to effectively manage conservation initiatives, improve metering accuracy and operate more efficiently. Installation using services from Wisconsin-based Corix Utilities Inc. and Madison Laborers Union Local 464 is expected to be complete by early 2013. Itron’s AMI solution will enable Madison Water Utility’s 235,000 residents to switch from biannual meter reads to monthly meter reads and measure consumption in gallons instead of cubic feet, making bills easier to understand.
Aecon Mining awarded $80 million contract at potash mine
- - Site preparation and early works on new mine in Saskatchewan - - Aecon Group Inc. (TSX:ARE) announced today that its Mining Division has been awarded a contract valued at approximately $80 million for work at a new potash mine, located approximately 140 kilometres east of Saskatoon, Saskatchewan. Under the unit price contract, Aecon Mining will conduct site preparation and early works, including site grading, construction of temporary roads, preparation of sediment ponds, and layouts for the camp. Work at the site has begun and is scheduled for completion in the fall of 2012.
Armtec Infrastructure Awarded Long-term Contract to Supply Infrastructure Products to BC Hydro
Armtec Infrastructure Inc. ("Armtec" or the "Company") (TSX: ARF and ARF.DB) today announced it has been awarded an exclusive long-term contract to supply utility vaults and associated products related to precast underground infrastructure for British Columbia Hydro and Power Authority ("BC Hydro"). The contract, valued at approximately $40 million based on a nine-year period, is fixed for a term of five years with the option to extend the agreement for up to two additional successive periods of two years each. As part of the due diligence associated with this arrangement, Armtec successfully demonstrated both its operational depth and capability, and its financial ability to meet the needs of the client over the long term.
AMSC Announces Nearly $100 Million in New Contracts Across Product Lines and Geographies
American Superconductor Corporation (NASDAQ:AMSC - News), a global power technologies company, today announced its recent successes in the wind power and power grid markets, including nearly $100 million in new contracts since the start of the company’s fiscal year on April 1, 2011. AMSC signed contracts with wind turbine manufacturers in China, India and Korea. Within its Grid segment, AMSC received orders for its grid interconnection and high voltage stability solutions in the U.S. and Europe and made a key high temperature superconductor wire shipment to South Korea.