Singapore's industrial production in November beat expectations, data showed on Wednesday, helped by a jump in pharmaceuticals output as well as strong expansion in the marine and offshore engineering segment.
Reported by Reuters India 16 hours ago.
Singapore November factory output rises 7.6 percent, beats forecast
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He Survived Two Mass Shootings. Now He is About to Deploy to Afghanistan.
After witnessing carnage in Las Vegas and Thousand Oaks, Brendan Kelly will soon be on his first tour of duty as a Marine.
Reported by NYTimes.com 11 hours ago.
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Top global universities take up ASC19 Student Supercomputer Challenge
BEIJING, Dec. 26, 2018 /PRNewswire/ -- Registration for the ASC19 Student Supercomputer Challenge has begun. Registered teams hail from top international institutes such as Tsinghua University, Peking University, Hong Kong Baptist University, National Tsing Hua University, Nanyang Technological University, Friedrich-Alexander-Universität Erlangen-Nürnberg, University of Warsaw and so on. The deadline of registration is January 7^th after which the preliminary competition will begin.According to the ASC Committee, this year's challenge will continue to focus on cutting-edge technologies and the latest supercomputer applications to guide young students to broaden their horizon and solve major scientific problems with supercomputers. This has been ASC's mission since its inception in 2012. ASC15 collaborated with SKA, the world's largest radio array telescope project, on a challenge involving Gridding, the most complex computational process of SKA. ASC17 invited students to optimize MASNUM, marine science and numerical modeling, on the world's then fastest supercomputer, the Sunway TaihuLight. ASC18 asked participants to a challenge for RELION, a critical application for the 2017 Nobel Prize-winning cryo-electron microscopy technology. In recent years, artificial intelligence applications have also become the "new normal" of the ASC Challenge, including the multi-core optimization of the speech recognition DNN from iFLYTEK in 2016, intelligent driving traffic forecast from Baidu in 2017, and machine reading comprehension from Microsoft in 2018. These problems cover the latest AI frameworks, algorithms and technical issues.
Jack Dongarra, the Chair of ASC Advisory Committee, a distinguished Professor at the University of Tennessee, has described ASC as having "by far the most intense competition" of the student cluster contests he has witnessed. It not only boosts the development of supercomputers, but also guides students' career development.
Many teachers and students attending previous challenges strongly agree on the significance of ASC for personal development. Cui Peng, the Captain of Qinghai University Team at ASC18, found his calling in supercomputing through participating in ASC. He has participated in ASC for three consecutive years since 2016, entered the final and won the First Prize this year. He believes that ASC is of great significance to undergraduates, because they can learn about hardware, software, system architecture and operating system, and put the culmination of this knowledge into practice. Meanwhile, he had gained a lot of cutting-edge expertise and developed his interest in doing research from the challenge. This experience played a very important role in his admission to the master's program in Computer Sciences at Tsinghua University.
"I have learned a lot from ASC, mainly because the competition covers many spheres," said Liu Siyuan, a student from Nanyang Technological University. "Participants need to know how to deploy Linux servers, allocate clusters, compile and optimize programs, optimize power consumption, and so on. When I joined ASC for the first time, I didn't even know how to configure the InfiniBand. Through two years of competition and study, I learned a lot, which supplemented what I had learnt at school. In addition, by participating in the competition, I improved my ability to handle emergencies, and collaborating with peers is also rewarding."
According to Mr. Alexander Ditter, a researcher of Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU) who had coached his students to participate in ASC17 and ASC18, it was an unforgettable experience for students to run workloads on the fastest supercomputer at that time, the Sunway TaihuLight. Moreover, he was able to attend the ASC organized "HPC Connection Workshop" with high-profile experts from the field. He and his students are returning for ASC19 and eagerly preparing for the new challenge.
ASC19 is split into three main phases. The first phase is registration and team set up from November 15, 2018 to January 7, 2019. Undergraduates register in group of five with one advisor. The second phase is a preliminary contest held from January to March 2019. Each team shall submit an optimization proposal for supercomputing applications as required. The ASC committee will select the top 20 teams. The third stage is the finals to be held at Dalian University of Technology from April 21 to 25. Based on the hardware platform provided by ASC, each of the 20 teams will design and build a supercomputing cluster that optimizes designated applications under 3000W.
ASC is sponsored and organized by China and supported by Asian, European and American experts and institutions. The main objectives of ASC are to encourage exchange and training of young supercomputer talents from different countries, improve supercomputer applications and R&D capacity, boost the development of supercomputing, and promote technical and industrial innovation.
View original content:http://www.prnewswire.com/news-releases/top-global-universities-take-up-asc19-student-supercomputer-challenge-300770584.html Reported by PR Newswire Asia 8 hours ago.
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Gulf Island Announces Favorable Federal Court Ruling in Navy Bid Protest
HOUSTON, Dec. 26, 2018 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI), announced today that the U.S. Court of Federal Claims has ruled in favor of the Government and Gulf Island with respect to the Company’s detail design and construction of up to eight (8) towing, salvage, and rescue ships (“T-ATS”) for the U.S. Navy. As a result, the partial stop work order previously issued by the U.S. Navy has been cancelled and all performance under the first T-ATS contract, which was previously awarded to the Company by the U.S. Navy, may proceed in accordance with the terms of the contract.
“We are clearly happy with the ruling from the U.S. Court of Federal Claims,” said Kirk Meche, President and CEO of Gulf Island. “Pre-construction activities for the first T-ATS vessel have been ongoing and we are ready to move forward with construction. We look forward to working with the U.S. Navy on this very important project and in the future on the remaining optionable T-ATS vessels if exercised.”
Gulf Island is a leading fabricator of complex steel structures, modules and marine vessels used in energy extraction and production, petrochemical and industrial facilities, power generation, alternative energy and shipping and marine transportation operations. The Company also provides project management for EPC projects along with installation, hookup, commissioning and repair and maintenance services. In addition, the Company performs civil, drainage and other work for state and local governments. The Company operates and manages its business through four operating divisions: Fabrication, Shipyard, Services and EPC, with its corporate headquarters located in Houston, Texas and fabrication facilities located in Houma, Jennings and Lake Charles, Louisiana.
*Cautionary Statement:*
This press release contains forward-looking statements. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relating to such topics as oil and gas prices, operating cash flows, capital expenditures, liquidity and tax rates. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be,” “potential” and any similar expressions are intended to identify those assertions as forward-looking statements.
We caution readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause our actual results to differ materially from those anticipated in the forward-looking statements include the cyclical nature of the oil and gas industry, changes in backlog estimates, suspension or termination of projects, timing and award of new contracts, financial ability and credit worthiness of our customers and consolidation of our customers, competitive pricing and cost overruns, entry into new lines of business, ability to raise additional capital, ability to sell certain assets, advancement on the SeaOne Project, ability to resolve dispute with a customer relating to a purported termination of contracts to build MPSVs, ability to remain in compliance with our covenants contained in our credit agreement, ability to employ skilled workers, operating dangers and limits on insurance coverage, weather conditions, competition, customer disputes, adjustments to previously reported profits under the percentage-of-completion method, loss of key personnel, compliance with regulatory and environmental laws, ability to utilize navigation canals, performance of subcontractors, systems and information technology interruption or failure and data security breaches and other factors described in more detail in “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2017, as updated by our subsequent filings with the U.S. Securities and Exchange Commission.
Investors are cautioned that many of the assumptions upon which our forward-looking statements are based are likely to change after the forward-looking statements are made, which we cannot control. Further, we may make changes to our business plans that could affect our results. We caution investors that we do not intend to update forward-looking statements more frequently than quarterly notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes, and we undertake no obligation to update any forward-looking statements.
For further information contact:
Kirk J. Meche
Chief Executive Officer
713.714.6100 Westley S. Stockton
Chief Financial Officer
713.714.6100 Reported by GlobeNewswire 5 hours ago.
“We are clearly happy with the ruling from the U.S. Court of Federal Claims,” said Kirk Meche, President and CEO of Gulf Island. “Pre-construction activities for the first T-ATS vessel have been ongoing and we are ready to move forward with construction. We look forward to working with the U.S. Navy on this very important project and in the future on the remaining optionable T-ATS vessels if exercised.”
Gulf Island is a leading fabricator of complex steel structures, modules and marine vessels used in energy extraction and production, petrochemical and industrial facilities, power generation, alternative energy and shipping and marine transportation operations. The Company also provides project management for EPC projects along with installation, hookup, commissioning and repair and maintenance services. In addition, the Company performs civil, drainage and other work for state and local governments. The Company operates and manages its business through four operating divisions: Fabrication, Shipyard, Services and EPC, with its corporate headquarters located in Houston, Texas and fabrication facilities located in Houma, Jennings and Lake Charles, Louisiana.
*Cautionary Statement:*
This press release contains forward-looking statements. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relating to such topics as oil and gas prices, operating cash flows, capital expenditures, liquidity and tax rates. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be,” “potential” and any similar expressions are intended to identify those assertions as forward-looking statements.
We caution readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause our actual results to differ materially from those anticipated in the forward-looking statements include the cyclical nature of the oil and gas industry, changes in backlog estimates, suspension or termination of projects, timing and award of new contracts, financial ability and credit worthiness of our customers and consolidation of our customers, competitive pricing and cost overruns, entry into new lines of business, ability to raise additional capital, ability to sell certain assets, advancement on the SeaOne Project, ability to resolve dispute with a customer relating to a purported termination of contracts to build MPSVs, ability to remain in compliance with our covenants contained in our credit agreement, ability to employ skilled workers, operating dangers and limits on insurance coverage, weather conditions, competition, customer disputes, adjustments to previously reported profits under the percentage-of-completion method, loss of key personnel, compliance with regulatory and environmental laws, ability to utilize navigation canals, performance of subcontractors, systems and information technology interruption or failure and data security breaches and other factors described in more detail in “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2017, as updated by our subsequent filings with the U.S. Securities and Exchange Commission.
Investors are cautioned that many of the assumptions upon which our forward-looking statements are based are likely to change after the forward-looking statements are made, which we cannot control. Further, we may make changes to our business plans that could affect our results. We caution investors that we do not intend to update forward-looking statements more frequently than quarterly notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes, and we undertake no obligation to update any forward-looking statements.
For further information contact:
Kirk J. Meche
Chief Executive Officer
713.714.6100 Westley S. Stockton
Chief Financial Officer
713.714.6100 Reported by GlobeNewswire 5 hours ago.
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Japan Condemned For Decision To Restart Commercial Whaling
Watch VideoSeveral countries are speaking out against Japan's decision to restart commercial whaling.Japan said it will withdraw from the International Whaling Commission, or IWC, and will start allowing whale hunting in nearby seas and its exclusive economic zones in July.
One U.K. official said he is "extremely disappointed" in the decision, adding in a statement, "The U.K. is strongly opposed to commercial whaling and will continue to fight for the protection and welfare of these majestic mammals."
One Swedish politician said Japan's decision is regrettable, and "More international cooperation - not less - is needed in order to #SaveOurOcean."
And environmental organization Greenpeace International called Japan "sneaky" in making the announcement at the end of the year and said, "The government of Japan must urgently act to conserve marine ecosystems."
The IWC suspended commercial whaling in 1986. Under the suspension, countries could still kill whales as long as it was for scientific purposes.
But Japan has argued whaling is part of its culture. The meat is considered a delicacy in the country, though reports from 2015 showed fewer people were eating it.
Despite the IWC moratorium on commercial whaling, Japan has still been hunting whales for what it calls "scientific research." The meat is then sold to help fund the program. But critics say the program is a cover for illegal poaching. Reported by Newsy 3 hours ago.
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Larson Electronics Releases 240D/120V 3-Phase Power Distribution Substation
KEMP, Texas, Dec. 26, 2018 (GLOBE NEWSWIRE) -- Larson Electronics, a Texas-based company with over 40 years of experience spearheading the industrial lighting and power equipment sectors, announced the release of a 3-phase power distribution substation that allows operators to safely tap into and distribute 240V AC power from generators and direct grid power to operate equipment on 240D/120V three phase. This unit features 30 L6-30R receptacles for 240V 3-phase equipment that are equipped with weatherproof covers.The MGP-1X800A.240D.3P-2X400A.240D.3P-30X30A.2P portable power distribution substation allows operators the ability to provide line-in cable connections to the primary 240V 3-phase, 800-amp, non-fused NEMA 3R rated disconnect. The primary side supplies 240V 3-phase power to two, 400-amp 240D/120V 3-phase main panels, each with 15, 30-amp breakers protecting 15, 30-amp L6-30R 250V receptacles. Suitable applications for this distribution station include indoor and outdoor use in places such as construction sites, for plant maintenance and turnarounds, in shipyards and more.
Larson Electronics’ power distribution substation features a transformer and load assembly that is mounted on a 3/16” thick carbon steel mounting platform and a load center/distribution assembly that is mounted on 2” x 2” x 1/8” square carbon steel tubing frame. This unit comes equipped with forklift skid pockets, a top located tool tray, polyurethane casters that lock, and a lifting eyelet located on the top. This transformer is grounded to the frame and comes equipped with a grounding lug.
*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.
*For further information, please contact:
*Rob Bresnahan, President and CEO
Toll-free: 1-888-351-2363
Int’l: 214-616-6180
Fax: 903-498-3364
E-mail: sales@larsonelectronics.com
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/5be663bf-2720-4772-803c-e88f77b8d01c
http://www.globenewswire.com/NewsRoom/AttachmentNg/0af90a2f-b615-4387-a651-f4a768e77393
http://www.globenewswire.com/NewsRoom/AttachmentNg/891b7302-1e41-407b-bf46-3124f5235f9f
http://www.globenewswire.com/NewsRoom/AttachmentNg/121585e3-73f2-4a52-8376-3503532f8fbc Reported by GlobeNewswire 1 day ago.
Larson Electronics’ power distribution substation features a transformer and load assembly that is mounted on a 3/16” thick carbon steel mounting platform and a load center/distribution assembly that is mounted on 2” x 2” x 1/8” square carbon steel tubing frame. This unit comes equipped with forklift skid pockets, a top located tool tray, polyurethane casters that lock, and a lifting eyelet located on the top. This transformer is grounded to the frame and comes equipped with a grounding lug.
*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.
*For further information, please contact:
*Rob Bresnahan, President and CEO
Toll-free: 1-888-351-2363
Int’l: 214-616-6180
Fax: 903-498-3364
E-mail: sales@larsonelectronics.com
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/5be663bf-2720-4772-803c-e88f77b8d01c
http://www.globenewswire.com/NewsRoom/AttachmentNg/0af90a2f-b615-4387-a651-f4a768e77393
http://www.globenewswire.com/NewsRoom/AttachmentNg/891b7302-1e41-407b-bf46-3124f5235f9f
http://www.globenewswire.com/NewsRoom/AttachmentNg/121585e3-73f2-4a52-8376-3503532f8fbc Reported by GlobeNewswire 1 day ago.
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Five Fun Ways to Celebrate Mardi Gras with Kids in Shreveport-Bossier
From costumed pets to alcohol-free parade zones, Shreveport-Bossier offers a variety of kid-friendly Carnival experiences in Northwest Louisiana. The 2019 Carnival season begins on Saturday, Jan. 5 and continues through Fat Tuesday, Mar. 5.
SHREVEPORT, La. (PRWEB) December 26, 2018
Parents in search of a family-friendly Mardi Gras experience should consider attending Carnival festivities in Shreveport-Bossier, Louisiana, just a 2.5-hour drive east of the Dallas-Fort Worth metroplex. Throughout Carnival season, which begins on Saturday, Jan. 5, 2019 and ends on Fat Tuesday, March 5, 2019, Shreveport-Bossier offers a variety of kid-friendly Mardi Gras experiences including parades especially for children, a pet parade, and alcohol-free “family zones” along the major parade routes. For complete details of the upcoming Carnival season in Shreveport-Bossier, visit http://www.ShreveportMardiGras.com.
The three largest Mardi Gras parades held annually in Shreveport-Bossier all offer alcohol-free viewing areas along the parade route. For the Krewe of Centaur Parade XXVIII, 4:30 p.m., Saturday, Feb. 23, and the Krewe of Gemini Parade XXX, 4 p.m., Saturday, March 2, an alcohol-free family zone has been designated in and around Veterans Park on Clyde Fant Parkway. Visitors wishing to view the parades in the family zone may begin arriving as early as 7 a.m. on parade day and should plan to arrive before 3:30 p.m., when roads will close along the route. The boundaries of the family zone are clearly marked with signage beginning at the intersection of Clyde Fant Parkway and Stoner Avenue in Shreveport and stretching north towards downtown Shreveport. The Krewe of Highland Parade XXIV, 2 p.m., Sunday, March 3, offers an alcohol-free viewing area along the east side of the campus of Centenary College of Louisiana. The physical location of the family viewing area stretches north from 1911 Centenary Boulevard – the main entrance to the Centenary College of Louisiana campus – to the intersection of Centenary Boulevard and E. Wilkinson Street. The Krewe of Highland Parade begins and ends in daylight, making it an especially popular parade for families.
On Sunday, Feb. 24, the Krewe of Barkus and Meoux Pet Parade, a huge parade of costumed pets that has drawn crowds of more than 10,000 spectators, will be held at 2000 Reeves Marine Drive in Bossier City. Pet registration begins at noon, pet contests begin at 1 p.m., and the costumed pet parade typically marches at 3 p.m.
On Fat Tuesday, March 5, the Krewe de Les Femmes Mystique will present the annual Fat Tuesday Children’s Parade at Pierre Bossier Mall in Bossier City. This parade is completely alcohol-free and designed especially for children, with a variety of non-traditional floats, marching units, clowns, and more. The Fat Tuesday Children’s Parade begins at 6:30 p.m. at Pierre Bossier Mall, 2950 E. Texas Street in Bossier City.
For assistance planning a visit to Shreveport-Bossier during Mardi Gras season, contact the Shreveport-Bossier Convention and Tourist Bureau at 1-800-551-8262 or http://www.Shreveport-Bossier.org. For complete information on Mardi Gras celebrations in Shreveport-Bossier, visit http://www.ShreveportMardiGras.com and download the 2019 edition of The Gris Gris Guide to Mardi Gras, a pocket-sized guide to North Louisiana’s largest Carnival season celebrations. Reported by PRWeb 22 hours ago.
SHREVEPORT, La. (PRWEB) December 26, 2018
Parents in search of a family-friendly Mardi Gras experience should consider attending Carnival festivities in Shreveport-Bossier, Louisiana, just a 2.5-hour drive east of the Dallas-Fort Worth metroplex. Throughout Carnival season, which begins on Saturday, Jan. 5, 2019 and ends on Fat Tuesday, March 5, 2019, Shreveport-Bossier offers a variety of kid-friendly Mardi Gras experiences including parades especially for children, a pet parade, and alcohol-free “family zones” along the major parade routes. For complete details of the upcoming Carnival season in Shreveport-Bossier, visit http://www.ShreveportMardiGras.com.
The three largest Mardi Gras parades held annually in Shreveport-Bossier all offer alcohol-free viewing areas along the parade route. For the Krewe of Centaur Parade XXVIII, 4:30 p.m., Saturday, Feb. 23, and the Krewe of Gemini Parade XXX, 4 p.m., Saturday, March 2, an alcohol-free family zone has been designated in and around Veterans Park on Clyde Fant Parkway. Visitors wishing to view the parades in the family zone may begin arriving as early as 7 a.m. on parade day and should plan to arrive before 3:30 p.m., when roads will close along the route. The boundaries of the family zone are clearly marked with signage beginning at the intersection of Clyde Fant Parkway and Stoner Avenue in Shreveport and stretching north towards downtown Shreveport. The Krewe of Highland Parade XXIV, 2 p.m., Sunday, March 3, offers an alcohol-free viewing area along the east side of the campus of Centenary College of Louisiana. The physical location of the family viewing area stretches north from 1911 Centenary Boulevard – the main entrance to the Centenary College of Louisiana campus – to the intersection of Centenary Boulevard and E. Wilkinson Street. The Krewe of Highland Parade begins and ends in daylight, making it an especially popular parade for families.
On Sunday, Feb. 24, the Krewe of Barkus and Meoux Pet Parade, a huge parade of costumed pets that has drawn crowds of more than 10,000 spectators, will be held at 2000 Reeves Marine Drive in Bossier City. Pet registration begins at noon, pet contests begin at 1 p.m., and the costumed pet parade typically marches at 3 p.m.
On Fat Tuesday, March 5, the Krewe de Les Femmes Mystique will present the annual Fat Tuesday Children’s Parade at Pierre Bossier Mall in Bossier City. This parade is completely alcohol-free and designed especially for children, with a variety of non-traditional floats, marching units, clowns, and more. The Fat Tuesday Children’s Parade begins at 6:30 p.m. at Pierre Bossier Mall, 2950 E. Texas Street in Bossier City.
For assistance planning a visit to Shreveport-Bossier during Mardi Gras season, contact the Shreveport-Bossier Convention and Tourist Bureau at 1-800-551-8262 or http://www.Shreveport-Bossier.org. For complete information on Mardi Gras celebrations in Shreveport-Bossier, visit http://www.ShreveportMardiGras.com and download the 2019 edition of The Gris Gris Guide to Mardi Gras, a pocket-sized guide to North Louisiana’s largest Carnival season celebrations. Reported by PRWeb 22 hours ago.
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HEG offers to acquire all the issued H shares in HEC, proposes HEC's withdrawal of listing and merger by absorption
HONG KONG, Dec 27, 2018 - (ACN Newswire) - Harbin Electric Corporation Co., Ltd. ("HEG") Board and Harbin Electric Company Limited ("HEC", stock code: 1133.HK) Board jointly announced that on 24 December 2018, HEG made a voluntary conditional cash offer ("Offer") to acquire all the issued H Shares in HEC; on the same day, HEG entered into the Merger Agreement ("Merger") with HEC.
At the request of HEC, trading in the H Shares on the Hong Kong Stock Exchange was halted from 9:00 a.m. on 18 December 2018 pending the issue of the joint announcement. Application has been made by HEC to the Hong Kong Stock Exchange for the resumption of trading in the H Shares with effect from 9:00 a.m. on 27 December 2018.
Terms of the Offer
The Offer will be made by HEG at the price of HK$4.56 in cash for each H share.
The Offer Price represents a premium of approximately 82.40% over the closing price of HK$2.50 per H Share as quoted on the Hong Kong Stock Exchange on 17 December 2018 (being the Last Trading Day) and a premium of approximately 77.50% over HK$2.57 which is the average closing price per H Share as quoted on the Hong Kong Stock Exchange for the 30 consecutive trading days up to and including 17 December 2018.
The Offer is subject to the fulfilment or waiver, as applicable, of a number of conditions. For further information, please refer to the joint announcement (http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/1227/LTN20181227013.pdf).
HEG intends to satisfy the consideration required for the Offer by a combination of cash from its internal resources and a loan facility obtained by it.
Upon the Offer becoming unconditional, HEC will make an application for the voluntary withdrawal of the listing of the H Shares on the Hong Kong Stock Exchange. The HEC Shareholders will be notified by way of an announcement of the dates of the last day for dealing in the H Shares and on which the voluntary withdrawal of the listing of the H Shares on the Hong Kong Stock Exchange will become effective.
Reasons for and Benefits on the Offer, the Delisting and the Merger
HEC, being primarily engaged in the manufacturing of thermal power and hydropower main equipment, has faced increasing pressure over its sales and profitability in the prevailing market environment, due to a combination of fierce market competition and an increasing focus on clean and renewable forms of generation at the expense of thermal generation. The Offer, the Delisting and the Merger, if successful, will reduce the costs through the simplification of the corporate structure and dispensation of costs associated with compliance and maintaining the listing status of HEC. The Merger of HEC by HEG, if successful, can fully integrate the underlying assets and liabilities of HEC by HEG, so as to optimise their corporate structure, enhance management effectiveness, and promote business integration and future development of HEG and its subsidiaries.
For shareholders, the Offer Price represents a premium of approximately 82.40% over the closing price on 17 December 2018, being the Last Trading Day. The Offer provides an attractive opportunity for the HEC H Shareholders to dispose of their H Shares expeditiously and receive cash at a price significantly above the prevailing market price.
Shareholding in HEC
As at the date of the joint announcement, HEC had 1,706,523,000 HEC Shares in issue, with 1,030,952,000 Domestic Shares and 675,571,000 H Shares. HEG owned the entirety of 1,030,952,000 Domestic Shares, representing approximately 60.41% of the issued share capital of HEC, and HEC H Shareholders were interested in 675,571,000 H Shares, representing approximately 39.59% of the issued share capital of HEC.
Information of HEG
HEG is a wholly state-owned company established on 6 October 1994, under the PRC Laws with approval from SASAC. HEG is the controlling shareholder of HEC, and is the pioneer in establishing the largest research and manufacturing base for power-generating equipment, marine engines, power-driven equipment and export base for complete set of equipment in the PRC.
Information of HEC
HEC was incorporated as a joint stock company with limited liability by way of promotion method in accordance with the PRC Company Law on 29 September 1994, and was registered with the Harbin Municipality Administration of Industry and Commerce Bureau and has obtained a business license on 6 October 1994. HEC became listed on the Main Board of the Hong Kong Stock Exchange on 16 December 1994. HEC is one of the largest manufacturers of power-generating equipment in the PRC, and is principally engaged in manufacturing of thermal power main equipment, hydropower main equipment, nuclear power main equipment, gas power equipment set and turnkey construction of power station projects, etc.Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com Reported by ACN Newswire 21 hours ago.
At the request of HEC, trading in the H Shares on the Hong Kong Stock Exchange was halted from 9:00 a.m. on 18 December 2018 pending the issue of the joint announcement. Application has been made by HEC to the Hong Kong Stock Exchange for the resumption of trading in the H Shares with effect from 9:00 a.m. on 27 December 2018.
Terms of the Offer
The Offer will be made by HEG at the price of HK$4.56 in cash for each H share.
The Offer Price represents a premium of approximately 82.40% over the closing price of HK$2.50 per H Share as quoted on the Hong Kong Stock Exchange on 17 December 2018 (being the Last Trading Day) and a premium of approximately 77.50% over HK$2.57 which is the average closing price per H Share as quoted on the Hong Kong Stock Exchange for the 30 consecutive trading days up to and including 17 December 2018.
The Offer is subject to the fulfilment or waiver, as applicable, of a number of conditions. For further information, please refer to the joint announcement (http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/1227/LTN20181227013.pdf).
HEG intends to satisfy the consideration required for the Offer by a combination of cash from its internal resources and a loan facility obtained by it.
Upon the Offer becoming unconditional, HEC will make an application for the voluntary withdrawal of the listing of the H Shares on the Hong Kong Stock Exchange. The HEC Shareholders will be notified by way of an announcement of the dates of the last day for dealing in the H Shares and on which the voluntary withdrawal of the listing of the H Shares on the Hong Kong Stock Exchange will become effective.
Reasons for and Benefits on the Offer, the Delisting and the Merger
HEC, being primarily engaged in the manufacturing of thermal power and hydropower main equipment, has faced increasing pressure over its sales and profitability in the prevailing market environment, due to a combination of fierce market competition and an increasing focus on clean and renewable forms of generation at the expense of thermal generation. The Offer, the Delisting and the Merger, if successful, will reduce the costs through the simplification of the corporate structure and dispensation of costs associated with compliance and maintaining the listing status of HEC. The Merger of HEC by HEG, if successful, can fully integrate the underlying assets and liabilities of HEC by HEG, so as to optimise their corporate structure, enhance management effectiveness, and promote business integration and future development of HEG and its subsidiaries.
For shareholders, the Offer Price represents a premium of approximately 82.40% over the closing price on 17 December 2018, being the Last Trading Day. The Offer provides an attractive opportunity for the HEC H Shareholders to dispose of their H Shares expeditiously and receive cash at a price significantly above the prevailing market price.
Shareholding in HEC
As at the date of the joint announcement, HEC had 1,706,523,000 HEC Shares in issue, with 1,030,952,000 Domestic Shares and 675,571,000 H Shares. HEG owned the entirety of 1,030,952,000 Domestic Shares, representing approximately 60.41% of the issued share capital of HEC, and HEC H Shareholders were interested in 675,571,000 H Shares, representing approximately 39.59% of the issued share capital of HEC.
Information of HEG
HEG is a wholly state-owned company established on 6 October 1994, under the PRC Laws with approval from SASAC. HEG is the controlling shareholder of HEC, and is the pioneer in establishing the largest research and manufacturing base for power-generating equipment, marine engines, power-driven equipment and export base for complete set of equipment in the PRC.
Information of HEC
HEC was incorporated as a joint stock company with limited liability by way of promotion method in accordance with the PRC Company Law on 29 September 1994, and was registered with the Harbin Municipality Administration of Industry and Commerce Bureau and has obtained a business license on 6 October 1994. HEC became listed on the Main Board of the Hong Kong Stock Exchange on 16 December 1994. HEC is one of the largest manufacturers of power-generating equipment in the PRC, and is principally engaged in manufacturing of thermal power main equipment, hydropower main equipment, nuclear power main equipment, gas power equipment set and turnkey construction of power station projects, etc.Copyright 2018 ACN Newswire. All rights reserved. www.acnnewswire.com Reported by ACN Newswire 21 hours ago.
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Local Marine Separately Surprises Family Members With Impromptu Return For The Holidays
A Marine from Staten Island surprised each member of his family for Christmas, and the heartwarming homecomings were caught on camera.
Reported by CBS 2 17 hours ago.
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New Alaska ferries need $30M in work before entering service
ANCHORAGE, Alaska (AP) — The Alaska Marine Highway System says an additional $30 million in public money is needed to install crew quarters on the state’s two new ferries. The Anchorage Daily News reports adding crew quarters will allow the ferries Tazlina and Hubbard to be used on longer routes than originally planned. The new […]
Reported by Seattle Times 17 hours ago.
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Polarcus secures combined streamer and node seismic acquisition project in Middle East
Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that a contract has been executed with Dubai Petroleum Establishment for a combined towed streamer and ocean bottom node ('OBN') 3D seismic acquisition and processing project in the Middle East.
The project will commence in Q1 2019 and run for approximately 3 months. The towed streamer seismic will be acquired by "Vyacheslav Tikhonov". The OBN acquisition services for the project will be provided by SAE Exploration.
The core Polarcus fleet is heavily booked in Q1 2019 creating the opportunity to call on the Vyacheslav Tikhonov (ex-Polarcus Selma, currently on bareboat charter to the seismic division of Sovcomflot) to provide high quality marine seismic acquisition services with project management delivered by Polarcus.
Polarcus COO, Lars Oestergaard commented:
"We are delighted to be awarded a towed streamer seismic project that will be acquired in unison with an undershoot OBN component to address imaging challenges in obstructed areas. We see OBN as an important complement to towed streamer acquisition in certain environments. Our collaboration with SAE Exploration on this project is important to provide our client with seamless seismic operations and to deliver a high-quality imaging product, capitalizing on the strengths of the respective seismic technologies".
*Contacts*
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@polarcus.com
*About Polarcus*
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 15 hours ago.
The project will commence in Q1 2019 and run for approximately 3 months. The towed streamer seismic will be acquired by "Vyacheslav Tikhonov". The OBN acquisition services for the project will be provided by SAE Exploration.
The core Polarcus fleet is heavily booked in Q1 2019 creating the opportunity to call on the Vyacheslav Tikhonov (ex-Polarcus Selma, currently on bareboat charter to the seismic division of Sovcomflot) to provide high quality marine seismic acquisition services with project management delivered by Polarcus.
Polarcus COO, Lars Oestergaard commented:
"We are delighted to be awarded a towed streamer seismic project that will be acquired in unison with an undershoot OBN component to address imaging challenges in obstructed areas. We see OBN as an important complement to towed streamer acquisition in certain environments. Our collaboration with SAE Exploration on this project is important to provide our client with seamless seismic operations and to deliver a high-quality imaging product, capitalizing on the strengths of the respective seismic technologies".
*Contacts*
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@polarcus.com
*About Polarcus*
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 15 hours ago.
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Nationwide Nominations for 2019 Armed Forces Insurance Military Spouse of the Year® Open
Nominations for the 2019 Armed Forces Insurance Military Spouse of the Year open on January 2nd! Entering its twelfth year, this award program honors military spouses from all six branches of the Armed Forces who are making a difference in their communities throughout the country. Visit msoy.afi.org to nominate.
LEAVENWORTH, Kan. (PRWEB) December 27, 2018
Our United States military members hold many great qualities in their commitment to country, strength in the face of adversity and compassion for the communities and nations they protect. But behind these military service members are the more than 1 million military spouses who mirror these same qualities. And so for the twelfth year nominations for the 2019 Armed Forces Insurance Military Spouse of the Year® (MSOY) will open on January 2. The award program honors military spouses from all six branches of the Armed Forces who are making a difference in their communities and throughout the country.
January 2 through January 31, Americans can nominate inspiring military spouses who are making strides to improve the lives of their fellow military service community, but extending into the communities they live and work in. The nomination form can be found at msoy.afi.org where nominators can highlight the military spouse’s impact on his or her family, community and country.
Past recipients of the Military Spouse of the Year® award were recognized for their work on many different platforms. Whether working with Gold Star families to help those who have lost a loved one in battle; influencing legislation making resources available for military families with exceptional medical needs; advocating for suicide prevention; working with groups focused on PTSD; or working on behalf of the entire military spouse community on employment issues; the range of issues that these spouses have put their passion behind is expansive and ever growing.
In the Fall of 2018, Armed Forces Insurance (AFI) assumed all ownership over the Military Spouse of the Year® program after acting as the title sponsor for the last nine years.
“The military spouse community is a strong one and each year as we accept these nominations are simply blown away by the breadth of platforms and causes these amazing men and women put their time and talents behind,” says Lori Simmons, chief marketing officer at Armed Forces Insurance. “This program has truly given a voice to those who do so much for our military community and country, but do not seek recognition for it. Armed Forces Insurance takes great pride in continuing to provide this platform for our new nominees while also bringing together alumni from past years.”
Nominations will be accepted January 2-31 across all six branches of the United States military: Army, Marine Corps, Navy, Air Force, Coast Guard and National Guard. Nominees will then be organized at the base, district (Coast Guard), and state (National Guard) level. Nominees are judged on five core criteria: overall involvement in military community, exhibition of leadership skills, community building capability, communication skills and overall personal story. Voting to select winners will be held in multiple phases:· January 2 – 31: National nominations open
· February 5: Meet the candidates
· February 8 – 12: Base voting open
· February 18: Base winners announced
· February 22: Top 18 announced
· February 25 – 26: Branch level vote
· March 1: Branch winners announced
· March 7 – 8: National vote
· May 9: Military Spouse of the Year® overall winner announced
The overall winner will be named at an awards dinner on Thursday, May 9 at Fort Meyer in Arlington, VA in conjunction with National Military Spouse Appreciation Day which occurs on May 10.
“This award has legitimized all I have accomplished over the last five years,” said Krista Simpson Anderson, 2018 Armed Forces Insurance Military Spouse of the Year. “It has provided me with a piece to my resume that I was missing and has given me an invitation to the table to create a greater impact in our community. The military spouse community is more tight-knit than ever because of this program and I encourage anyone who knows a spouse doing great things to take the time to nominate them.”
The Armed Forces Insurance Military Spouse of the Year® Award was founded in 2008 by Chris Hale, CEO of veteran-owned Neptune Holdings, Military Spouse Magazine’s parent company.To learn more about the Military Spouse of the Year® award, including nominee eligibility, rules and regulations, and program alumni visit msoy.afi.org.
About Armed Forces Insurance:
Armed Forces Insurance was founded in 1887 by military leaders with a single mission: to protect the property of those who protect our nation. The company provides premium quality, competitively priced property and casualty insurance to military professionals throughout the United States and overseas. Armed Forces Insurance understands that its members have unique circumstances and insurance needs, enabling the company to offer a level of personalized service that's unequalled in the industry. For more information, visit the website at http://www.afi.org or call 1-800-495-8234, and follow us on LinkedIn, Facebook, Twitter and Instagram. Reported by PRWeb 11 hours ago.
LEAVENWORTH, Kan. (PRWEB) December 27, 2018
Our United States military members hold many great qualities in their commitment to country, strength in the face of adversity and compassion for the communities and nations they protect. But behind these military service members are the more than 1 million military spouses who mirror these same qualities. And so for the twelfth year nominations for the 2019 Armed Forces Insurance Military Spouse of the Year® (MSOY) will open on January 2. The award program honors military spouses from all six branches of the Armed Forces who are making a difference in their communities and throughout the country.
January 2 through January 31, Americans can nominate inspiring military spouses who are making strides to improve the lives of their fellow military service community, but extending into the communities they live and work in. The nomination form can be found at msoy.afi.org where nominators can highlight the military spouse’s impact on his or her family, community and country.
Past recipients of the Military Spouse of the Year® award were recognized for their work on many different platforms. Whether working with Gold Star families to help those who have lost a loved one in battle; influencing legislation making resources available for military families with exceptional medical needs; advocating for suicide prevention; working with groups focused on PTSD; or working on behalf of the entire military spouse community on employment issues; the range of issues that these spouses have put their passion behind is expansive and ever growing.
In the Fall of 2018, Armed Forces Insurance (AFI) assumed all ownership over the Military Spouse of the Year® program after acting as the title sponsor for the last nine years.
“The military spouse community is a strong one and each year as we accept these nominations are simply blown away by the breadth of platforms and causes these amazing men and women put their time and talents behind,” says Lori Simmons, chief marketing officer at Armed Forces Insurance. “This program has truly given a voice to those who do so much for our military community and country, but do not seek recognition for it. Armed Forces Insurance takes great pride in continuing to provide this platform for our new nominees while also bringing together alumni from past years.”
Nominations will be accepted January 2-31 across all six branches of the United States military: Army, Marine Corps, Navy, Air Force, Coast Guard and National Guard. Nominees will then be organized at the base, district (Coast Guard), and state (National Guard) level. Nominees are judged on five core criteria: overall involvement in military community, exhibition of leadership skills, community building capability, communication skills and overall personal story. Voting to select winners will be held in multiple phases:· January 2 – 31: National nominations open
· February 5: Meet the candidates
· February 8 – 12: Base voting open
· February 18: Base winners announced
· February 22: Top 18 announced
· February 25 – 26: Branch level vote
· March 1: Branch winners announced
· March 7 – 8: National vote
· May 9: Military Spouse of the Year® overall winner announced
The overall winner will be named at an awards dinner on Thursday, May 9 at Fort Meyer in Arlington, VA in conjunction with National Military Spouse Appreciation Day which occurs on May 10.
“This award has legitimized all I have accomplished over the last five years,” said Krista Simpson Anderson, 2018 Armed Forces Insurance Military Spouse of the Year. “It has provided me with a piece to my resume that I was missing and has given me an invitation to the table to create a greater impact in our community. The military spouse community is more tight-knit than ever because of this program and I encourage anyone who knows a spouse doing great things to take the time to nominate them.”
The Armed Forces Insurance Military Spouse of the Year® Award was founded in 2008 by Chris Hale, CEO of veteran-owned Neptune Holdings, Military Spouse Magazine’s parent company.To learn more about the Military Spouse of the Year® award, including nominee eligibility, rules and regulations, and program alumni visit msoy.afi.org.
About Armed Forces Insurance:
Armed Forces Insurance was founded in 1887 by military leaders with a single mission: to protect the property of those who protect our nation. The company provides premium quality, competitively priced property and casualty insurance to military professionals throughout the United States and overseas. Armed Forces Insurance understands that its members have unique circumstances and insurance needs, enabling the company to offer a level of personalized service that's unequalled in the industry. For more information, visit the website at http://www.afi.org or call 1-800-495-8234, and follow us on LinkedIn, Facebook, Twitter and Instagram. Reported by PRWeb 11 hours ago.
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BeyondSpring Announces Positive Pre-NDA Meeting with the U.S. FDA for its Lead Asset, Plinabulin
Company On Track to Submit New Drug Applications for Non-Small Cell Lung Cancer and Chemotherapy-Induced Neutropenia in the United States and China
NEW YORK, Dec. 27, 2018 (GLOBE NEWSWIRE) -- BeyondSpring Inc. (NASDAQ: BYSI), a global biopharmaceutical company focused on the development of innovative cancer therapies, today announced that it had a positive pre-New Drug Application (NDA) meeting with the U.S. Food and Drug Administration (FDA) regarding its lead asset, Plinabulin. The focus of this meeting was the content of the chemistry, manufacturing and control (CMC) sections of the Company’s planned NDAs for Plinabulin for the treatment of non-small cell lung cancer (NSCLC) and chemotherapy-induced neutropenia (CIN) prevention.“We are very pleased with the outcome of this meeting, as we have confirmed our alignment with the FDA regarding expectations for the CMC sections of our planned NDAs for Plinabulin,” said Dr. Lan Huang, CEO and co-founder at BeyondSpring. “We have been working diligently on these submission packages, assembling their regulatory, preclinical, and most recently the clinical components of these indications. Now with agreement on the CMC sections, we are well on track to submit these NDA packages for Plinabulin to the FDA.”
“We truly appreciate the guidance provided by the FDA during our recent pre-NDA meeting for Plinabulin, and look forward to working with the Agency to achieve our goal of addressing the unmet clinical needs of cancer patients,” added Dr. Gordon Schooley, BeyondSpring’s Chief Regulatory Officer.
*About Plinabulin*
Plinabulin, a marine-derived small-molecule, is BeyondSpring’s lead asset and is currently in late-stage clinical development for the prevention of chemo-induced neutropenia and as an anticancer therapy in non-small cell lung cancer. Studies of Plinabulin's mechanism of action indicate that Plinabulin activates GEF-H1, a guanine nucleotide exchange factor. GEF-H1 activates downstream transduction pathways leading to the maturation of dendritic cells, which in turn leads to T-cell activation which contributes to durable anti-cancer benefit and the up-regulate of IL6 in the tissue micro-environment, contributing to the prevention of neutropenia.
*About Non-Small Cell Lung Cancer*
Lung cancer is the leading cause of cancer deaths worldwide. According to the World Health Organization, there will be approximately 2.1 million diagnosed cases and 1.8 million estimated deaths caused by the disease in 2018. Lung cancer is manifested in two main forms: NSCLC and small cell lung cancer. NSCLC is the more common form, accounting for approximately 85 percent of all lung cancer cases. Over 85 percent of second- and third-line NSCLC is of EGFR wild type in the Western population, of which only four therapies have been approved. These four therapies include docetaxel, pemetrexed, ramucirumab and docetaxel, and PD-1/PD-L1 treatments, all of which have their own limitations. This presents a severe unmet medical need, which is targeted by the Phase 3 trial of Plinabulin and docetaxel combination.
*About Chemotherapy-Induced Neutropenia*
CIN is a common side effect in cancer patients undergoing treatment that involves the destruction of a type of white blood cell, the neutrophil, which is a patient’s first line of defense against infections. Patients with grade 4 (severe) neutropenia have an abnormally low concentration of neutrophils, making these patients more susceptible to bacterial and fungal infections and sepsis, which can require hospitalization and can be fatal.
The current standard of care for CIN prevention is G-CSF monotherapy. However, G-CSF monotherapy has limitations as described in its product information summary. As many as 90 percent of patients on chemotherapy and G-CSF monotherapy may still experience grade 3 or 4 neutropenia. Additionally, as many as 70 percent of patients using G-CSF monotherapy experience bone pain while on therapy. NCCN guidelines require that patients with grade 3/4 neutropenia decrease chemotherapy dose intensity, delay chemotherapy cycle timing or discontinue chemotherapy, each of which can have a negative effect on the long-term outcomes of cancer care.
*About BeyondSpring*
BeyondSpring is a global, clinical-stage biopharmaceutical company focused on the development of innovative immuno-oncology cancer therapies. BeyondSpring’s lead asset, Plinabulin, is in a Phase 3 global clinical trial as a direct anticancer agent in the treatment of non-small cell lung cancer and two Phase 2/3 clinical programs in the prevention of chemotherapy-induced neutropenia. BeyondSpring has internal R&D capabilities with a robust pipeline including, in addition to Plinabulin, three immuno-oncology assets and a drug discovery platform using ubiquitination degradation pathway. The Company has a seasoned management team with many years of experience bringing drugs to the global market.
*Cautionary Note Regarding Forward-Looking Statements*
This press release includes forward-looking statements that are not historical facts. Words such as "will,""expect,""anticipate,""plan,""believe,""design,""may,""future,""estimate,""predict,""objective,""goal," or variations thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, difficulties raising the anticipated amount needed to finance the Company's future operations on terms acceptable to the Company, if at all, unexpected results of clinical trials, delays or denial in regulatory approval process, results that do not meet our expectations regarding the potential safety, the ultimate efficacy or clinical utility of our product candidates, increased competition in the market, and other risks described in BeyondSpring’s most recent Form 20-F on file with the U.S. Securities and Exchange Commission. All forward-looking statements made herein speak only as of the date of this release and BeyondSpring undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
*Contact:*
*Media Relations:*
Caitlin Kasunich / Amrita Singh
KCSA Strategic Communications
212.896.1241 / 212.896.1207
ckasunich@kcsa.com / asingh@kcsa.com
*Investor Relations:*
Laura Perry / Joe Rayne
Argot Partners
212.600.1902
BeyondSpring@argotpartners.com Reported by GlobeNewswire 10 hours ago.
NEW YORK, Dec. 27, 2018 (GLOBE NEWSWIRE) -- BeyondSpring Inc. (NASDAQ: BYSI), a global biopharmaceutical company focused on the development of innovative cancer therapies, today announced that it had a positive pre-New Drug Application (NDA) meeting with the U.S. Food and Drug Administration (FDA) regarding its lead asset, Plinabulin. The focus of this meeting was the content of the chemistry, manufacturing and control (CMC) sections of the Company’s planned NDAs for Plinabulin for the treatment of non-small cell lung cancer (NSCLC) and chemotherapy-induced neutropenia (CIN) prevention.“We are very pleased with the outcome of this meeting, as we have confirmed our alignment with the FDA regarding expectations for the CMC sections of our planned NDAs for Plinabulin,” said Dr. Lan Huang, CEO and co-founder at BeyondSpring. “We have been working diligently on these submission packages, assembling their regulatory, preclinical, and most recently the clinical components of these indications. Now with agreement on the CMC sections, we are well on track to submit these NDA packages for Plinabulin to the FDA.”
“We truly appreciate the guidance provided by the FDA during our recent pre-NDA meeting for Plinabulin, and look forward to working with the Agency to achieve our goal of addressing the unmet clinical needs of cancer patients,” added Dr. Gordon Schooley, BeyondSpring’s Chief Regulatory Officer.
*About Plinabulin*
Plinabulin, a marine-derived small-molecule, is BeyondSpring’s lead asset and is currently in late-stage clinical development for the prevention of chemo-induced neutropenia and as an anticancer therapy in non-small cell lung cancer. Studies of Plinabulin's mechanism of action indicate that Plinabulin activates GEF-H1, a guanine nucleotide exchange factor. GEF-H1 activates downstream transduction pathways leading to the maturation of dendritic cells, which in turn leads to T-cell activation which contributes to durable anti-cancer benefit and the up-regulate of IL6 in the tissue micro-environment, contributing to the prevention of neutropenia.
*About Non-Small Cell Lung Cancer*
Lung cancer is the leading cause of cancer deaths worldwide. According to the World Health Organization, there will be approximately 2.1 million diagnosed cases and 1.8 million estimated deaths caused by the disease in 2018. Lung cancer is manifested in two main forms: NSCLC and small cell lung cancer. NSCLC is the more common form, accounting for approximately 85 percent of all lung cancer cases. Over 85 percent of second- and third-line NSCLC is of EGFR wild type in the Western population, of which only four therapies have been approved. These four therapies include docetaxel, pemetrexed, ramucirumab and docetaxel, and PD-1/PD-L1 treatments, all of which have their own limitations. This presents a severe unmet medical need, which is targeted by the Phase 3 trial of Plinabulin and docetaxel combination.
*About Chemotherapy-Induced Neutropenia*
CIN is a common side effect in cancer patients undergoing treatment that involves the destruction of a type of white blood cell, the neutrophil, which is a patient’s first line of defense against infections. Patients with grade 4 (severe) neutropenia have an abnormally low concentration of neutrophils, making these patients more susceptible to bacterial and fungal infections and sepsis, which can require hospitalization and can be fatal.
The current standard of care for CIN prevention is G-CSF monotherapy. However, G-CSF monotherapy has limitations as described in its product information summary. As many as 90 percent of patients on chemotherapy and G-CSF monotherapy may still experience grade 3 or 4 neutropenia. Additionally, as many as 70 percent of patients using G-CSF monotherapy experience bone pain while on therapy. NCCN guidelines require that patients with grade 3/4 neutropenia decrease chemotherapy dose intensity, delay chemotherapy cycle timing or discontinue chemotherapy, each of which can have a negative effect on the long-term outcomes of cancer care.
*About BeyondSpring*
BeyondSpring is a global, clinical-stage biopharmaceutical company focused on the development of innovative immuno-oncology cancer therapies. BeyondSpring’s lead asset, Plinabulin, is in a Phase 3 global clinical trial as a direct anticancer agent in the treatment of non-small cell lung cancer and two Phase 2/3 clinical programs in the prevention of chemotherapy-induced neutropenia. BeyondSpring has internal R&D capabilities with a robust pipeline including, in addition to Plinabulin, three immuno-oncology assets and a drug discovery platform using ubiquitination degradation pathway. The Company has a seasoned management team with many years of experience bringing drugs to the global market.
*Cautionary Note Regarding Forward-Looking Statements*
This press release includes forward-looking statements that are not historical facts. Words such as "will,""expect,""anticipate,""plan,""believe,""design,""may,""future,""estimate,""predict,""objective,""goal," or variations thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, difficulties raising the anticipated amount needed to finance the Company's future operations on terms acceptable to the Company, if at all, unexpected results of clinical trials, delays or denial in regulatory approval process, results that do not meet our expectations regarding the potential safety, the ultimate efficacy or clinical utility of our product candidates, increased competition in the market, and other risks described in BeyondSpring’s most recent Form 20-F on file with the U.S. Securities and Exchange Commission. All forward-looking statements made herein speak only as of the date of this release and BeyondSpring undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
*Contact:*
*Media Relations:*
Caitlin Kasunich / Amrita Singh
KCSA Strategic Communications
212.896.1241 / 212.896.1207
ckasunich@kcsa.com / asingh@kcsa.com
*Investor Relations:*
Laura Perry / Joe Rayne
Argot Partners
212.600.1902
BeyondSpring@argotpartners.com Reported by GlobeNewswire 10 hours ago.
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Pingtan Marine Enterprise Announces Additional 12 new Fishing Vessels Sailing to Sea
FUZHOU, China, Dec. 27, 2018 /PRNewswire/ -- *Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan" or the "Company")**,* a global fishing company based in the People's Republic of China (PRC), today announced that an additional 12 of the Company's new fishing vessels have left the port of Fuzhou in succession and are heading towards their designated fishing areas for operation in the international waters of the Indian Ocean.These 12 new large-scale squid jigging vessels are a portion of the Company's modification and rebuilding project of 27 new fishing vessels. Squid jigging is a technique which uses a lead sinker with a hook molded into it to attract squid. The Company previously announced that 7 large scaled light luring seine fishing vessels have departed for sea in batches in November. As of this date, a total of 19 of the 27 new fishing vessels have been deployed to sea, and the remaining 8 new fishing vessels will be gradually placed into the international waters of the Indian Ocean.
*Management Commentary*
Mr. Xinrong Zhuo, Chairman and CEO of the Company, commented: "We are very pleased to sail off an additional 12 new fishing vessels, and expect these large-scale squid jigging vessels to further enhance our capacity to supply squid products. As the upcoming first quarter is typically our peak sales season, which includes the traditional Chinese New Year Spring Festival, we will endeavor to complete the modification and rebuilding of the remaining new vessels so that they are ready to set sail for operation during early 2019."
*About Pingtan*
Pingtan is a global fishing company engaging in ocean fishing through its subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd., or Pingtan Fishing.
*Business Risks and Forward-Looking Statements *
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward looking statements include, but are not limited to, Pingtan's expectation of completing the modification and rebuilding of the remaining new fishing vessels and placing them in operation thereafter, and an increase in the production capacity of squid products. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Although forward-looking statements reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Risks include the ability to complete modification and rebuilding of the remaining vessels in a timely manner; ability to reach the international waters of the Indian Ocean; adverse weather or oceanic conditions or mechanical or other operational failure of the vessels; an unexpected dramatic decrease in production; operational, mechanical, climatic or other unanticipated issues that adversely affect the production capacity of the Company's fishing vessels and their ability to generate expected annual revenue and net income, actions taken by government regulators that adversely affect the Company's operations of its vessels and other risk factors contained in Pingtan's SEC filings available at www.sec.gov, including Pingtan's most recent Annual Report on Form 10-K. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Pingtan undertakes no obligation to update or revise any forward-looking statements for any reason.
*CONTACT:*
Roy Yu
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
ryu@ptmarine.net
Maggie Li
Investor Relations Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
mli@ptmarine.net
*INVESTOR RELATIONS COUNSEL:*
The Equity Group Inc.
Katherine Yao
Senior Associate
Tel: +86-10 5661 7012
kyao@equityny.com
View original content:http://www.prnewswire.com/news-releases/pingtan-marine-enterprise-announces-additional-12-new-fishing-vessels-sailing-to-sea-300770927.html Reported by PR Newswire Asia 9 hours ago.
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Brunswick granted exclusions from Section 301 tariffs for Mercury Marine 40, 50 and 60hp engines
METTAWA, IL, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) announced today that the Company has been granted exclusions from Section 301 tariffs for its 40, 50 and 60hp Mercury Marine engines. The engines are assembled by Mercury in China and sold globally.
The exclusions reduce Brunswick’s estimated net pretax tariff impact in 2019 to approximately $17 million to $22 million, down from the estimate of $30 million to $35 million provided in the recent third quarter earnings call. With the retroactive nature of the exclusions (dating back to an effective date of July 6, 2018), the Company anticipates a favorable change in 2018 pretax earnings, versus previous estimates, of approximately $4 million to $6 million. This estimated impact for 2018 is based upon the eventual refund of the tariffs paid to date on these engines since July, net of customer tariff surcharges that will be refunded to customers by Mercury Marine, as soon as practical. Mercury’s engines were among the 1,300 products originally targeted for the 25 percent tariff.
The exclusion requests were reviewed and approved by both the United States Trade Representative (USTR) and the U.S. Customs and Border Protection (CBP).
“We are pleased that the USTR and CBP have approved the exclusion requests for these three classes of outboard engines, which are very popular choices for fishing and family boating activities,” Brunswick Chairman and Chief Executive Officer Mark Schwabero said. “It is good for consumers as well as for American manufacturers. We remain hopeful that the trade issues which led to the imposition of tariffs and subsequent retaliatory tariffs can be resolved quickly and amicably between the U.S. and its trading partners."
*Forward-Looking Statement *
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as “may,” “could,” “expect,” “anticipate,” “intend,” “target,” “plan,” “seek,” “estimate,” “believe,” “predict,” “outlook,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include, but are not limited to: adverse general economic conditions, including reductions in consumer discretionary spending; our ability to implement our strategic plan and growth initiatives; the risk that strategic acquisitions or divestitures may not provide business benefits; the possibility that the proposed Fitness business separation will not be consummated within the anticipated time period or at all; our ability to integrate targeted acquisitions, including the Global Marine & Mobile Business of Power Products; the potential for disruption to our business in connection with the Fitness business separation or Global Marine & Mobile Business of Power Products acquisition, making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with these transactions; the possibility that the expected synergies and value creation from these transactions will not be realized or will not be realized within the expected time period; changes to U.S. trade policy and tariffs; actual or anticipated increases in costs, disruptions of supply, or defects in raw materials, parts, or components we purchase from third parties, including as a result of new tariffs on raw materials; negative currency trends; fiscal policy concerns; adequate financing access for dealers and customers and our ability to access capital and credit markets; maintaining effective distribution; loss of key customers; inventory reductions by dealers, retailers, or independent boat builders; requirements for us to repurchase inventory; attracting and retaining skilled labor and implementing succession plans for key leadership; our ability to meet supply objectives; higher energy and fuel costs; our ability to protect our brands and intellectual property; absorbing fixed costs in production; managing expansion or consolidation of manufacturing facilities; outages or breaches of technology systems, which could result in lost or stolen information and associated remediation costs; our ability to meet pension funding obligations; managing our share repurchases; competitive pricing pressures; our ability to develop new and innovative products and services at a competitive price, in legal compliance with existing rules; maintaining product quality and service standards; product liability, warranty, and other claims risks; legal and regulatory compliance, including increased costs, fines, and reputational risks; changes in income tax legislation or enforcement; having to record an impairment to the value of goodwill and other assets; certain divisive shareholder activist actions; international business risks; and weather and catastrophic event risks.
Additional risk factors are included in the Company’s Annual Report on Form 10-K for 2017 and the Quarterly Reports on Form 10-Q for the periods ended March 31, 2018; June 30, 2018 and September 29, 2018. Forward-looking statements speak only as of the date on which they are made, and Brunswick does not undertake any obligation to update them to reflect events or circumstances after the date of this release.
*About Brunswick*
Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers, and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine & Lankhorst Taselaar marine parts distribution; and Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT fitness equipment; and Brunswick billiards tables, accessories and game room furniture. For more information, visit http://www.brunswick.com.
CONTACT: Dan Kubera
Director – Media Relations and Corporate Communications
Email: daniel.kubera@brunswick.com
847-735-4617 Reported by GlobeNewswire 9 hours ago.
The exclusions reduce Brunswick’s estimated net pretax tariff impact in 2019 to approximately $17 million to $22 million, down from the estimate of $30 million to $35 million provided in the recent third quarter earnings call. With the retroactive nature of the exclusions (dating back to an effective date of July 6, 2018), the Company anticipates a favorable change in 2018 pretax earnings, versus previous estimates, of approximately $4 million to $6 million. This estimated impact for 2018 is based upon the eventual refund of the tariffs paid to date on these engines since July, net of customer tariff surcharges that will be refunded to customers by Mercury Marine, as soon as practical. Mercury’s engines were among the 1,300 products originally targeted for the 25 percent tariff.
The exclusion requests were reviewed and approved by both the United States Trade Representative (USTR) and the U.S. Customs and Border Protection (CBP).
“We are pleased that the USTR and CBP have approved the exclusion requests for these three classes of outboard engines, which are very popular choices for fishing and family boating activities,” Brunswick Chairman and Chief Executive Officer Mark Schwabero said. “It is good for consumers as well as for American manufacturers. We remain hopeful that the trade issues which led to the imposition of tariffs and subsequent retaliatory tariffs can be resolved quickly and amicably between the U.S. and its trading partners."
*Forward-Looking Statement *
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as “may,” “could,” “expect,” “anticipate,” “intend,” “target,” “plan,” “seek,” “estimate,” “believe,” “predict,” “outlook,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include, but are not limited to: adverse general economic conditions, including reductions in consumer discretionary spending; our ability to implement our strategic plan and growth initiatives; the risk that strategic acquisitions or divestitures may not provide business benefits; the possibility that the proposed Fitness business separation will not be consummated within the anticipated time period or at all; our ability to integrate targeted acquisitions, including the Global Marine & Mobile Business of Power Products; the potential for disruption to our business in connection with the Fitness business separation or Global Marine & Mobile Business of Power Products acquisition, making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with these transactions; the possibility that the expected synergies and value creation from these transactions will not be realized or will not be realized within the expected time period; changes to U.S. trade policy and tariffs; actual or anticipated increases in costs, disruptions of supply, or defects in raw materials, parts, or components we purchase from third parties, including as a result of new tariffs on raw materials; negative currency trends; fiscal policy concerns; adequate financing access for dealers and customers and our ability to access capital and credit markets; maintaining effective distribution; loss of key customers; inventory reductions by dealers, retailers, or independent boat builders; requirements for us to repurchase inventory; attracting and retaining skilled labor and implementing succession plans for key leadership; our ability to meet supply objectives; higher energy and fuel costs; our ability to protect our brands and intellectual property; absorbing fixed costs in production; managing expansion or consolidation of manufacturing facilities; outages or breaches of technology systems, which could result in lost or stolen information and associated remediation costs; our ability to meet pension funding obligations; managing our share repurchases; competitive pricing pressures; our ability to develop new and innovative products and services at a competitive price, in legal compliance with existing rules; maintaining product quality and service standards; product liability, warranty, and other claims risks; legal and regulatory compliance, including increased costs, fines, and reputational risks; changes in income tax legislation or enforcement; having to record an impairment to the value of goodwill and other assets; certain divisive shareholder activist actions; international business risks; and weather and catastrophic event risks.
Additional risk factors are included in the Company’s Annual Report on Form 10-K for 2017 and the Quarterly Reports on Form 10-Q for the periods ended March 31, 2018; June 30, 2018 and September 29, 2018. Forward-looking statements speak only as of the date on which they are made, and Brunswick does not undertake any obligation to update them to reflect events or circumstances after the date of this release.
*About Brunswick*
Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers, and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine & Lankhorst Taselaar marine parts distribution; and Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT fitness equipment; and Brunswick billiards tables, accessories and game room furniture. For more information, visit http://www.brunswick.com.
CONTACT: Dan Kubera
Director – Media Relations and Corporate Communications
Email: daniel.kubera@brunswick.com
847-735-4617 Reported by GlobeNewswire 9 hours ago.
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Therapeutic hobby for Marine recovering from IED blasts yields fruitful results for Cider Corps
A Mesa veteran's therapeutic hobby has evolved into one of the most recognizable local beverages in Arizona.
Reported by azcentral.com 7 hours ago.
Reported by azcentral.com 7 hours ago.
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Larson Electronics Releases 3-Phase, 3-Pole 50HP Explosion Proof Hinged-Cover Motor Control Station
KEMP, Texas, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Larson Electronics, a Texas-based company with over 40 years of experience spearheading the industrial lighting sector, announced the release of a 3-phase, 3-pole explosion proof hinged-cover motor control station made with a copper-free aluminum enclosure. This unit is ideal for indoor and outdoor Class I, II and III, Divisions 1 and 2 hazardous locations that are damp, wet, dirty or dusty.The EPCS-MTS-3P-50HP-480V explosion proof motor control station features a semi-clamshell design with an external flanged ground joint located between the cover and the body for easy access to interior components. This unit features a motor operating starting handle on the right-hand side wall of the enclosure, providing operators with visual confirmation that all operation and assembly is correct.
The body of the enclosure, cover and operating handle are made of copper-free aluminum, and the brushing, springs and operating shaft are made of sturdy stainless steel. This unit is rated for Class I, Divisions 1 and 2, Groups B, C and D; Class II, Division 1, Groups E, F and G; Class II, Division 2, Groups F and G; and Class III hazardous locations. This motor control station also has NEMA 3, 3R, 4, 4X, 7BCD, 9EFG, and 12 ratings.
Larson Electronics’ explosion proof motor control station features a pre-drilled mounting plate within the enclosure and is field removable. A steel bracket is included in the standard model and allows for the lifting of larger enclosures. Suitable applications include areas where washdowns occur, where heavy rain or water spray may be present, and locations where centrally located motor control is needed.
*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.
*For further information, please contact:
*Rob Bresnahan, President and CEO
Toll-free: 1-888-351-2363
Int’l: 214-616-6180
Fax: 903-498-3364
E-mail: sales@larsonelectronics.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c95bcfeb-6638-4fb8-9c18-d8d42bb5aa6d. Reported by GlobeNewswire 7 hours ago.
The body of the enclosure, cover and operating handle are made of copper-free aluminum, and the brushing, springs and operating shaft are made of sturdy stainless steel. This unit is rated for Class I, Divisions 1 and 2, Groups B, C and D; Class II, Division 1, Groups E, F and G; Class II, Division 2, Groups F and G; and Class III hazardous locations. This motor control station also has NEMA 3, 3R, 4, 4X, 7BCD, 9EFG, and 12 ratings.
Larson Electronics’ explosion proof motor control station features a pre-drilled mounting plate within the enclosure and is field removable. A steel bracket is included in the standard model and allows for the lifting of larger enclosures. Suitable applications include areas where washdowns occur, where heavy rain or water spray may be present, and locations where centrally located motor control is needed.
*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.
*For further information, please contact:
*Rob Bresnahan, President and CEO
Toll-free: 1-888-351-2363
Int’l: 214-616-6180
Fax: 903-498-3364
E-mail: sales@larsonelectronics.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c95bcfeb-6638-4fb8-9c18-d8d42bb5aa6d. Reported by GlobeNewswire 7 hours ago.
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MacGregor receives clearance from the South Korean competition regulator for the acquisition of the marine and offshore businesses of TTS
CARGOTEC CORPORATION, PRESS RELEASE, 27 DECEMBER 2018 AT 5.00 PM EET
MacGregor, part of Cargotec, has today received a clearance decision from the South Korean Fair Trade Commission on the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.
MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China. As communicated on 20 December, 2018, MacGregor expects to close the transaction in Q1 2019.
*For more information please contact:*
Pasi Lehtonen, Senior Vice President, Marketing, Business Development and Strategy, MacGregor
tel. +65 91737550, pasi.lehtonen@macgregor.com
Robin Thuillier, Communications Director, MacGregor
tel. +65 9730 4301, robin.thuillier@macgregor.com
MacGregor is a leader in intelligent maritime cargo and load handling with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes, Rapp Marine and Triplex products, services and solutions, all designed to perform with the sea.
Shipbuilders, shipowners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.www.macgregor.com
MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people worldwide.www.cargotec.com Reported by GlobeNewswire 7 hours ago.
MacGregor, part of Cargotec, has today received a clearance decision from the South Korean Fair Trade Commission on the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.
MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China. As communicated on 20 December, 2018, MacGregor expects to close the transaction in Q1 2019.
*For more information please contact:*
Pasi Lehtonen, Senior Vice President, Marketing, Business Development and Strategy, MacGregor
tel. +65 91737550, pasi.lehtonen@macgregor.com
Robin Thuillier, Communications Director, MacGregor
tel. +65 9730 4301, robin.thuillier@macgregor.com
MacGregor is a leader in intelligent maritime cargo and load handling with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes, Rapp Marine and Triplex products, services and solutions, all designed to perform with the sea.
Shipbuilders, shipowners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.www.macgregor.com
MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people worldwide.www.cargotec.com Reported by GlobeNewswire 7 hours ago.
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Option for early redelivery of Vyacheslav Tikhonov
Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that an early redelivery option has been agreed with the charterers of the "Vyacheslav Tikhonov" ("VT"), originally named "Polarcus Selma". The VT has been on bareboat charter to Sovcomflot ("SCF") since delivery from yard in 2011. The current charter period will expire in October 2019.
SCF has negotiated an option to redeliver the vessel on no less than 30 days' notice without penalty provided that the substantive service agreement for the 4D project in the Far East is executed and performed (see Company announcement dated 24 December 2018). Reciprocally, the Polarcus subsidiary owning the vessel has negotiated a call option for redelivery of the vessel on 30 days' notice (subject to availability).
*Contacts*
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@polarcus.com
*About Polarcus*
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 7 hours ago.
SCF has negotiated an option to redeliver the vessel on no less than 30 days' notice without penalty provided that the substantive service agreement for the 4D project in the Far East is executed and performed (see Company announcement dated 24 December 2018). Reciprocally, the Polarcus subsidiary owning the vessel has negotiated a call option for redelivery of the vessel on 30 days' notice (subject to availability).
*Contacts*
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@polarcus.com
*About Polarcus*
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 7 hours ago.
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Brunswick wins tariff exemptions for Mercury Marine engines
The parent company of Fond du Lac-based Mercury Marine has received tariff exemptions on several of its branded engines. Brunswick Corp. (NYSE: BC) confirmed Thursday that it will receive exclusions from Section 301 tariffs, which specifically target China, on Mercury Marine 40, 50 and 60 horsepower engines. Those specific outboard engines are assembled in China by Mercury Marine and sold globally, and Brunswick's chairman and CEO Mark Schwabero said the engines are popular choices for fishing and…
Reported by bizjournals 6 hours ago.
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