1st Detect Awarded U.S. Patent for Novel Mass Spectrometer Design
1st Detect Corporation, a subsidiary of Astrotech Corporation (ASTC), announced today that the United States Patent Office ("USPTO") has allowed the issuance of a key patent for the company's unique ion trap used for chemical analysis and detection. "We are extremely pleased that the USPTO has allowed this patent. This patent is an important component of our intellectual property portfolio as it allows 1st Detect to enhance the performance of miniaturized mass spectrometers without an increase in size or cost," said Thomas B Pickens III, Chairman and CEO of 1st Detect. "The patent clearly validates our technology, while both demonstrating and protecting the progress we have made in the development of the 1st Detect mass spectrometer."
Capstone Receives Multiple Orders for Offshore Platforms from New Alaska Distributor Chenega Energy
Capstone Turbine Corporation (www.capstoneturbine.com) (CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it received multiple orders for oil and gas offshore platforms from its new Alaskan distributor Chenega Energy LLC. The orders are for a single C1000 and multiple C200s for use on offshore platforms in Alaska's Cook Inlet.
Chenega Energy secured the orders from Hilcorp Alaska LLC, which purchased 10 oilrigs in Alaska's Cook Inlet from Chevron and Marathon Oil in 2012 and 2013. Since January 2012, oil production on the platforms has increased by 36 percent to approximately 9,700 barrels per day. Despite this increase, cost of oil production remains high and Hilcorp plans to invest over $500 million to further develop this project and make structural changes to help drive down costs.
Norbord Reports Third Quarter 2013 Results
Note: Financial references in US dollars unless otherwise indicated.
Q3 2013 HIGHLIGHTSEarnings per share of $0.50 diluted ($0.51 basic) EBITDA of $45 million North American shipment volumes to new home construction sector increased 25% year-to-date - reflecting the continuing US housing recovery European markets continue to strengthen - OSB, particleboard prices up 8% year-over-year Declared quarterly dividend of CAD $0.60 per share
Norbord Inc. (TSX: NBD, NBD.WT) today reported EBITDA of $45 million in the third quarter of 2013, compared to $66 million in the same quarter last year and $102 million in the second quarter of 2013. North American operations generated EBITDA of $36 million in the quarter versus $58 million last year and $92 million in the prior quarter. European operations generated EBITDA of $12 million in both the third and second quarters of 2013 versus $10 million in the third quarter last year.
Highpower International Delivers Electrical Vehicle (EV) Battery System to Harbin Institute of Technology
Highpower International, Inc. (NASDAQ: HPJ), a developer, manufacturer, and marketer of nickel-metal hydride (Ni-MH) and lithium rechargeable batteries and battery solutions, today announced that it successfully delivered an advanced electric vehicle (EV) battery system to the Harbin Institute of Technology (HIT).The EV battery was installed on an electric race car designed by HIT and was used for electrical car racing at Formula SAE China, which took place in Xiangyang, Hubei Province from October 15th to October 19th, 2013.
LP Agrees to Acquire Ainsworth, Advancing Its Global Leadership in Strand-Based Wood Products and Technologies
Louisiana-Pacific Corporation (“LP” or the “Company”) (NYSE:LPX - News) and Ainsworth Lumber Co. Ltd. (TSX:ANS.TO - News) (“Ainsworth”) today announced that they have signed a definitive agreement under which LP will acquire all of the outstanding common shares of Ainsworth for a total consideration which equates to C$3.76 per Ainsworth common share, based on the closing price of LP common shares on September 3, 2013.
The proposed transaction, which has a total value of approximately USD$1.1 billion, including the assumption of debt less Ainsworth’s estimated cash balance, represents a premium for Ainsworth shareholders of 30% relative to the closing price of Ainsworth shares of C$2.89 and 24% to the volume weighted average trading price of Ainsworth shares on the TSX over the past 20 trading days as of September 3, 2013.
Capstone Receives Major Order for Global Real Estate Development and Investment Firm
Capstone Turbine Corporation (www.capstoneturbine.com) (CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced it received a major order for one of the most prominent privately held real estate and investment firms in the United States. Capstone distributor RSP Systems, headquartered in Bronx, NY, secured the significant order.
The order for multiple buildings is from New York based Related Companies, a highly regarded entrepreneurial innovator and industry leader in environmentally conscious real estate development.
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.