SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy Corporation (NYSE: BE) today announced its intention to offer, subject to market and other conditions, $135,000,000 aggregate principal amount of green convertible senior notes due 2025 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Bloom Energy also expects to grant the initial purchaser of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $15,000,000 principal amount of notes.

The notes will be senior, unsecured obligations of Bloom Energy, will accrue interest payable semi-annually in arrears and will mature on August 15, 2025, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Bloom Energy will settle conversions by paying or delivering, as applicable, cash, shares of its Class A common stock or a combination of cash and shares of its Class A common stock, at Bloom Energy’s election. The notes will be redeemable, in whole or in part, for cash at Bloom Energy’s option at any time, and from time to time, on or after August 21, 2023 and on or before the 26th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Bloom Energy’s Class A common stock exceeds 130% of the conversion price for a specified period of time. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering.

Bloom Energy intends to use the net proceeds to offer to redeem a portion of its outstanding 10% Convertible Promissory Notes due 2021. Bloom Energy intends to use any remaining net proceeds not used for such redemption for other business purposes. In addition, Bloom Energy intends to allocate an amount equal to the net proceeds from the sale of the notes to refinance or finance, in whole or in part, new or on-going projects that meet the “Eligibility Criteria” as defined in the offering disclosure in respect of the notes.

The offer and sale of the notes and any shares of Class A common stock issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of Class A common stock issuable upon conversion of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.

About Bloom Energy

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The Company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the completion, timing and size of the proposed offering, the intended use of the proceeds and the terms of the notes being offered. Forward-looking statements represent Bloom Energy’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of Bloom Energy’s Class A common stock and risks relating to Bloom Energy’s business, including those described in periodic reports that Bloom Energy files from time to time with the SEC. Bloom Energy may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offer or the notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and Bloom Energy does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

Investor Relations:
Mark Mesler
Bloom Energy
+1 (408) 543-1743
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Erica Osian
Bloom Energy
+1 (401) 714-6883
This email address is being protected from spambots. You need JavaScript enabled to view it.

AUSTIN, Texas--(BUSINESS WIRE)--WhiteWater Midstream (WhiteWater), MPLX LP (NYSE: MPLX) and West Texas Gas, Inc. (WTG) have recently formed a Joint Venture (JV) to provide natural gas liquids (NGLs) takeaway capacity from MPLX and WTG gas processing plants in the Permian Basin to the NGL fractionation hub in Sweeny, TX. WhiteWater Midstream’s Investment in the JV is backed by Ridgemont Equity Partners, Denham Capital Management and the Ontario Power Generation Inc. Pension Plan.

The JV will provide an optimized approach to pipeline transportation service for NGLs primarily through the utilization of existing infrastructure with limited initial construction. The solution will facilitate future, capital-efficient expansions that meet customer demands in a recovering basin. The JV is supported by volumes from key processing plants with long-term commitments from top-tier Permian producers.

As part of this NGL transportation solution, the JV has entered into multiple capacity arrangements from Orla, TX to Sweeny, TX including an agreement with EPIC Y-Grade Pipeline LP (EPIC) to own an undivided joint interest (UJI) in EPIC’s existing 24” NGL pipeline from West Texas to the Eagle Ford Basin.

About WhiteWater Midstream

WhiteWater Midstream is a management owned, Austin based midstream company. WhiteWater Midstream is partnered with multiple private equity funds including but not limited to Ridgemont Equity Partners, Denham Capital Management, First Infrastructure Capital and the Ontario Power Generation Inc. Pension Plan. Since inception, WhiteWater has reached final investment decision on ~$3 billion in greenfield development projects. For more information about WhiteWater Midstream, visit www.whitewatermidstream.com.

About MPLX LP

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com

About WTG

WTG (West Texas Gas, Inc. & affiliates) is composed of a family of related natural gas midstream and downstream entities headquartered in Midland, TX since 1976 with operations in more than 90 Texas and Oklahoma counties. These WTG entities operate more than 900 MMcfd + of gas processing capacity with more than 10,000 miles of gathering systems, 1,800 miles of transmission pipelines and distribution systems serving approximately 25,000 LDC customers.

About Ridgemont Equity Partners

Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested approximately $5.0 billion. The firm focuses on equity investments up to $250 million in industries in which it has deep expertise, including business and industrial services, energy and sustainable strategies, healthcare, and technology and telecommunications. For more information about Ridgemont Equity Partners, visit www.ridgemontep.com.

About Denham Capital Management

Denham Capital is a leading energy and resources-focused global private equity firm with more than $9.7 billion of committed capital across eleven fund vehicles and offices in Houston, Boston, London and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving oil and gas, power generation and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep technical, operational and industry experience and work in close partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

Investor Relations Contacts:
WhiteWater Midstream
Timothy Nuttall
Vice President, Business Development
(512) 953-2100
www.whitewatermidstream.com

MPLX
Kristina Kazarian
Vice President, Investor Relations
(419) 421-2071

WTG
David B. Freeman
Vice President, Business Development
(432) 682-4349

MPLX Media Contacts
Hamish Banks
Vice President, Communications
(419) 421-2521

Jamal Kheiry
Manager, Communications
(419) 421-3312

WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) today reported financial results for the quarter ended June 30, 2020.

“We delivered strong results in the second quarter, reflecting the extreme contango market structure,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Our terminal network enabled us to benefit from a dramatic shift in the forward product pricing curve in Q2, leading to a $73.5 million increase in Wholesale product margin from the same period last year. The Q2 increase sharply contrasts with the nearly $30 million decline in Wholesale segment product margin in the first quarter this year, which reflected less favorable market conditions due in part to the steepening forward curve. In our Gasoline Distribution and Station Operations (GDSO) segment, our second-quarter 2020 results benefited from higher fuel margins that more than offset a year-over-year decline in volume related to COVID-19. Business activity remains below pre-pandemic levels. In comparison with July 2019, in July 2020 retail gas volume was down mid-teens on a percentage basis and convenience store sales were down less than 10%. That said, the extent to which the COVID-19 pandemic may affect our operating results remains uncertain.

“I’m extremely proud of our entire team, which continues to provide essential products and services while ensuring the safety of our guests, customers, suppliers and one another,” Slifka said. “Our office staff has adapted to working remotely and our retail stations and terminals are fully operational.”

Financial Highlights

Net income attributable to the Partnership was $76.3 million, or $2.17 per diluted common limited partner unit, for the second quarter of 2020 compared with net income attributable to the Partnership of $14.5 million, or $0.36 per diluted common limited partner unit, for the same period of 2019.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $125.7 million in the second quarter of 2020 compared with $64.0 million in the comparable period of 2019.

Adjusted EBITDA was $126.6 million in the second quarter of 2020 versus $62.8 million in the year-earlier period.

Distributable cash flow (DCF) was $95.8 million in the second quarter of 2020 compared with $28.1 million in the same period of 2019.

Gross profit in the second quarter of 2020 was $239.9 million compared with $167.1 million in the second quarter of 2019, primarily due to more favorable market conditions in the Wholesale segment.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $260.1 million in the second quarter of 2020 compared with $188.0 million in the second quarter of 2019.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and six months ended June 30, 2020 and 2019.

GDSO segment product margin was $145.6 million in the second quarter of 2020 compared with $145.4 million in the same period of 2019, reflecting higher fuel margins largely offset by lower station operations product margins due primarily to the reduction in in-store traffic.

Wholesale segment product margin was $111.5 million in the second quarter of 2020 compared with $38.0 million in the same period of 2019, due to a significant recovery in the supply/demand imbalance at the end of the first quarter and resultant flattening of the forward product pricing curve.

Commercial segment product margin was $3.0 million in the second quarter of 2020 compared with $4.5 million in the second quarter of 2019, primarily reflecting a decrease in bunkering activity.

Sales were $1.5 billion in the second quarter of 2020 compared with $3.5 billion in the second quarter of 2019, due to lower volume and a decrease in prices. Wholesale segment sales were $0.8 billion in the second quarter of 2020 compared with $2.0 billion in the second quarter of 2019. GDSO segment sales were $0.6 billion in the second quarter of 2020 compared with $1.1 billion in the second quarter of 2019. Commercial segment sales were $133.0 million in the second quarter of 2020 compared with $356.8 million in the second quarter of 2019.

Volume in the second quarter of 2020 was 1.2 billion gallons compared with 1.6 billion gallons in the same period of 2019. Wholesale segment volume was 794.4 million gallons in the second quarter of 2020 compared with 1.0 billion gallons in the same period of 2019. GDSO volume was 278.6 million gallons in the second quarter of 2020 compared with 411.0 million gallons in the second quarter of 2019. Commercial segment volume was 125.2 million gallons in the second quarter of 2020 compared with 183.3 million gallons in the second quarter of 2019.

Recent Developments

• Global’s Board of Directors announced a quarterly cash distribution of $0.45875 per unit, or $1.835 per unit on an annualized basis, on all of its outstanding common units for the period from April 1 to June 30, 2020. The distribution will be paid August 14, 2020 to unitholders of record as of the close of business on August 10, 2020.

   

Business Outlook

“There is a continuing uncertainty surrounding the short- and long-term impact of COVID-19 to our businesses. While we believe that our integrated business model, diversified product portfolio and versatile asset base provide us with operating and financial flexibility, our performance in the quarters ahead will be affected by the extent and duration of the pandemic,” Slifka said.

Any COVID-19 related events or conditions, or other unforeseen consequences of COVID-19 could significantly adversely affect our business and financial condition and the business and financial condition of our customers, suppliers and counterparties. The ultimate extent of the impact of COVID-19 on our business, financial condition and results of operations depends in large part on future developments which are uncertain and cannot be predicted at this time. That uncertainty includes the duration (including its potential return) of the COVID-19 pandemic, the geographic regions so impacted, the extent of said impact within specific boundaries of those areas and, lastly, the impact to the local, state and national economies.

Financial Results Conference Call

Management will review the Partnership’s second-quarter 2020 financial results in a teleconference call for analysts and investors today.

Due to the expected high demand on our conference call provider, please plan to dial in to the call at least 20 minutes prior to the start time.

The call also will be webcast live and archived on Global’s website, https://ir.globalp.com.

Use of Non-GAAP Financial Measures

Product Margin

Global Partners views product margin as an important performance measure of the core profitability of its operations. The Partnership reviews product margin monthly for consistency and trend analysis. Global Partners defines product margin as product sales minus product costs. Product sales primarily include sales of unbranded and branded gasoline, distillates, residual oil, renewable fuels, crude oil and propane, as well as convenience store sales, gasoline station rental income and revenue generated from logistics activities when the Partnership engages in the storage, transloading and shipment of products owned by others. Product costs include the cost of acquiring products and all associated costs including shipping and handling costs to bring such products to the point of sale as well as product costs related to convenience store items and costs associated with logistics activities. The Partnership also looks at product margin on a per unit basis (product margin divided by volume). Product margin is a non‑GAAP financial measure used by management and external users of the Partnership’s consolidated financial statements to assess its business. Product margin should not be considered an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, product margin may not be comparable to product margin or a similarly titled measure of other companies.

EBITDA and Adjusted EBITDA

EBITDA and Adjusted EBITDA are non-GAAP financial measures used as supplemental financial measures by management and may be used by external users of Global Partners’ consolidated financial statements, such as investors, commercial banks and research analysts, to assess the Partnership’s:

• compliance with certain financial covenants included in its debt agreements;
• financial performance without regard to financing methods, capital structure, income taxes or historical cost basis;
• ability to generate cash sufficient to pay interest on its indebtedness and to make distributions to its partners;
• operating performance and return on invested capital as compared to those of other companies in the wholesale, marketing, storing and distribution of refined petroleum products, gasoline blendstocks, renewable fuels, crude oil and propane, and in the gasoline stations and convenience stores business, without regard to financing methods and capital structure; and
• viability of acquisitions and capital expenditure projects and the overall rates of return of alternative investment opportunities.

Adjusted EBITDA is EBITDA further adjusted for gains or losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges. EBITDA and Adjusted EBITDA should not be considered as alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income, and these measures may vary among other companies. Therefore, EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies.

Distributable Cash Flow

Distributable cash flow is an important non-GAAP financial measure for the Partnership’s limited partners since it serves as an indicator of success in providing a cash return on their investment. Distributable cash flow as defined by the Partnership’s partnership agreement is net income plus depreciation and amortization minus maintenance capital expenditures, as well as adjustments to eliminate items approved by the audit committee of the board of directors of the Partnership’s general partner that are extraordinary or non-recurring in nature and that would otherwise increase distributable cash flow.

Distributable cash flow as used in our partnership agreement also determines our ability to make cash distributions on our incentive distribution rights. The investment community also uses a distributable cash flow metric similar to the metric used in our partnership agreement with respect to publicly traded partnerships to indicate whether or not such partnerships have generated sufficient earnings on a current or historic level that can sustain distributions on preferred or common units or support an increase in quarterly cash distributions on common units. Our partnership agreement does not permit adjustments for certain non-cash items, such as net losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges.

Distributable cash flow should not be considered as an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, distributable cash flow may not be comparable to distributable cash flow or similarly titled measures of other companies.

About Global Partners LP

With approximately 1,550 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global Partners also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global Partners engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global Partners LP, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.

Forward-looking Statements

Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on Global Partners’ current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. All comments concerning the Partnership’s expectations for future revenues and operating results and otherwise are based on forecasts for its existing operations and do not include the potential impact of any future acquisitions. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) including, without limitation, the impact and duration of the COVID-19 pandemic, uncertainty around the timing of an economic recovery in the United States which will impact the demand for the products we sell and the services we provide, uncertainty around the impact of the COVID-19 pandemic to our counterparties and our customers and their corresponding ability to perform their obligations and/or utilize the products we sell and/or services we provide, uncertainty around the impact and duration of federal, state and municipal regulations related to the COVID-19 pandemic, and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections.

For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global Partners’ filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Daphne H. Foster
Chief Financial Officer
Global Partners LP
(781) 894-8800

Edward J. Faneuil
Executive Vice President, General Counsel and Secretary
Global Partners LP
(781) 894-8800

DUBLIN--(BUSINESS WIRE)--The "Transit Packaging - Global Market Outlook (2019 -2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Transit Packaging Market is growing at a CAGR of 7.3% during 2019 to 2027.

Rise in the trade activities and increasing demand from several end-user industries, such as construction, automotive, etc. are some of the elements fueling market growth. However, certain manufacturing domains are undergoing expansion struggles which are negatively impacting to the growth of the market.

Transit packaging is the import and export of goods; needing a higher level of care and meticulousness, which further needs effective and efficient packaging solutions related to transit.

Based on the end user, the food and beverage segment is estimated to have lucrative growth due to demanding successful and well-organized transit packaging solutions, due to the improved production of horticulture items. These factors are contributing to the development of this market.

By geography, Europe is likely to have a huge demand due to robust construction activities across different industries in Europe, resulting in huge implementations of transit packaging solutions, with food & beverage existing as the largest application area. Other factors together with industrialization, surging international trade, and urbanization will further drive demand for this market in Europe.

Companies Mentioned

• Mondi
• Smurfit Kappa
• Greif
• DS Smith
• Sonoco Products Company
• Belmont Packaging
• Georgia-Pacific
• GWP
• BillerudKorsns
• Cardboard Box Company
• Cascades
• Cellofoam North America
• De Jong Verpakking
• Elopak AS
• Eltete TPM

What the report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company Profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Key Topics Covered:

1 Executive Summary

2 Preface

2.1 Abstract

2.2 Stake Holders

2.3 Research Scope

2.4 Research Methodology

2.4.1 Data Mining

2.4.2 Data Analysis

2.4.3 Data Validation

2.4.4 Research Approach

2.5 Research Sources

2.5.1 Primary Research Sources

2.5.2 Secondary Research Sources

2.5.3 Assumptions

3 Market Trend Analysis

3.1 Introduction

3.2 Drivers

3.3 Restraints

3.4 Opportunities

3.5 Threats

3.6 End User Analysis

3.7 Emerging Markets

3.8 Impact of Covid-19

4 Porters Five Force Analysis

4.1 Bargaining power of suppliers

4.2 Bargaining power of buyers

4.3 Threat of substitutes

4.4 Threat of new entrants

4.5 Competitive rivalry

5 Global Transit Packaging Market, By Material Type

5.1 Introduction

5.2 Polypropylene

5.3 Polyvinyl Chloride (PVC)

5.4 Polyethylene

5.5 Polyethylene Terephthalate

5.6 Ethylene Vinyl Alcohol

5.7 Polyurethane

5.8 Paper & Paperboard

5.9 Metal

5.10 Wood

6 Global Transit Packaging Market, By Packaging Type

6.1 Introduction

6.2 Corrugated Boxes

6.3 Crates

6.3.1 Wooden Crates

6.3.2 Plastic Crates

6.4 Pallets

6.4.1 Plastic Pallets

6.4.2 Wooden Pallets

6.4.3 Metal Pallets

6.5 Barrels

6.6 Strapping

6.7 Cartons

6.8 Intermediate Bulk Containers

6.9 Other Packaging Type

6.9.1 Air Cushions

6.9.2 Bubble Wraps

6.9.3 Foam Packaging

6.9.4 Insulated Shipping Containers

6.9.5 Protective Mailers

6.9.6 Tapes

7 Global Transit Packaging Market, By End User

7.1 Introduction

7.2 Electrical Industry

7.3 Food & Beverage

7.4 Industrial Goods

7.5 Retail

7.6 Consumer Goods

7.7 Third-party Logistics

7.8 Industrial Machinery and Equipment

7.9 Pharmaceuticals

7.10 Chemicals

7.11 Building and Construction

7.12 Automotive

7.13 E-Commerce

8 Global Transit Packaging Market, By Geography

8.1 Introduction

8.2 North America

8.3 Europe

8.4 Asia Pacific

8.5 South America

8.6 Middle East & Africa

9 Key Developments

9.1 Agreements, Partnerships, Collaborations and Joint Ventures

9.2 Acquisitions & Mergers

9.3 New Product Launch

9.4 Expansions

9.5 Other Key Strategies

10 Company Profiling

For more information about this report visit https://www.researchandmarkets.com/r/behlk

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

• $78.8 million in cash and cash equivalents
• $251.4 million in sales
• GAAP diluted EPS of $0.12
• Cash flow from operating activities of $63.4 million
• Free cash flow for the quarter of $61.6 million

HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the second quarter ended June 30, 2020. The following are results for the three and six months ended June 30, 2020, compared to the three and six months ended June 30, 2019. A reconciliation of the non-GAAP financial measures can be found in the back of this press release.

Second Quarter 2020 financial highlights:

• Sales were $251.4 million, compared to $333.3 million for the second quarter of 2019.
• Earnings per diluted share for the second quarter was $0.12 based upon 18.6 million diluted shares, compared to $0.73 per share in the second quarter of June 30, 2019, based on 18.4 million diluted shares.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter was $12.6 million compared to $28.7 million for the second quarter of 2019.
• Free cash flow (cash flow from operating activities less capital expenditures) for the second quarter was $61.6 million, or 489.5% of EBITDA.

David R. Little, Chairman and CEO, commented, "Before turning to our results, I would like to acknowledge our employees' resilience in the face of this historic COVID-19 pandemic and subsequent decline in activity levels in our oil and gas markets. As we have battled the pandemic for the last four months, our DXPeople have shown outstanding adaptability to the new working environment. They have embraced new work practices to mitigate contamination risks, while delivering outstanding product and service quality for our customers. As the pandemic lingers, we will continue to balance both safety and business priorities and strive to capture more market share. I was pleased with our team's execution on maintaining gross margins, cost discipline and our strong free cash flow generation."

Mr. Little continued, "During the second quarter, we achieved $251.4 million in sales, including $4.5 million from acquisitions. In terms of our business segments for the second quarter, sales were $153.8 million for Service Centers, $60.5 million for Innovative Pumping Solutions and $37.1 million for Supply Chain Services. Although the majority of lockdowns have been easing and economic activity is likely near trough levels, visibility on the economic outlook remains extremely limited. Specifically, the risk of a second wave of virus cases, the reinstitution of select geographic lockdowns, the upcoming election and the risk of lingering high unemployment create an uncertain economic environment that likely persists through the rest of 2020 based upon what we know today. Our results demonstrate a significant and sustainable reset to the power of our business to generate positive earnings and free cash flow and capture market share for our future."

Kent Yee, CFO, commented, “DXP's second quarter performance in a tough and unique market shows we can execute quickly and aggressively to deliver financial results and free cash flow despite a severe drop in activity. DXP generated $61.6 million in free cash flow for the quarter. Additionally, DXP paid down debt by $15.6 million. Our second quarter EBITDA for debt covenant purposes was $15.6 million. As of June 30, 2020, we had $78.8 million in cash and cash equivalents on the balance sheet. Our senior leverage was 2.4:1, well under the Q2 covenant limit of 4.5:1."

Financial Strength and Liquidity

Net debt, calculated as long-term debt, net of cash and cash equivalents, on our balance sheet as of June 30, 2020, was down to $149.4 million compared to $221.6 million at June 30, 2019. As of June 30, 2020, DXP has approximately $209.7 million in liquidity, consisting of $78.7 million in cash on hand and approximately $131.0 million in availability under our ABL facility.

We will host a conference call regarding June 30, 2020 second quarter results on the Company’s website (www.dxpe.com) Thursday, August 6, 2020 at 10 am CDT. Web participants are encouraged to go to the Company’s website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. The online archived replay will be available immediately after the conference call at www.dxpe.com.

Non-GAAP Financial Measures

DXP supplements reporting of net income with non-GAAP measurements, including EBITDA, adjusted EBITDA, free cash flow and net debt. This supplemental information should not be considered in isolation or as a substitute for the unaudited GAAP measurements. Additional information regarding EBITDA and free cash flow referred to in this press release are included below under "Unaudited Reconciliation of Non-GAAP Financial Information."

The Company believes EBITDA provides additional information about: (i) operating performance, because it assists in comparing the operating performance of the business, as it removes the impact of non-cash depreciation and amortization expense as well as items not directly resulting from core operations such as interest expense and income taxes and (ii) the performance and the effectiveness of operational strategies. Additionally, EBITDA performance is a component of a measure of the Company’s financial covenants under its credit facility. Furthermore, some investors use EBITDA as a supplemental measure to evaluate the overall operating performance of companies in the industry. Management believes that some investors’ understanding of performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing ongoing results of operations. By providing this non-GAAP financial measure, together with a reconciliation from net income, the Company believes it is enhancing investors’ understanding of the business and results of operations, as well as assisting investors in evaluating how well the Company is executing strategic initiatives.

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Business segment financial highlights:

• Service Centers’ revenue for the second quarter was $153.8 million, a decrease of 23.1 percent year-over-year with a 8.9 percent operating income margin.
• Innovative Pumping Solutions’ revenue for the second quarter was $60.5 million, a decrease of 25.4 percent year-over-year with a 14.2 percent operating income margin.
• Supply Chain Services’ revenue for the second quarter was $37.1 million, a decrease of 29.1 percent year-over-year with a 9.0 percent operating income margin.

Kent Yee, 713-996-4700
Senior Vice President, CFO
www.dxpe.com

Navis adds Extensions Maintenance and EDI Management to its portfolio of Managed Services

OAKLAND, Calif.--(BUSINESS WIRE)--Navis a part of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, today announced the expansion of the Navis 360 Managed Services portfolio, adding Extensions Maintenance and EDI Management to the list of services offered:

• Extensions Maintenance – Navis audits, optimizes, and maintains your library of groovy extensions, no matter how small or large, making sure that all extensions work well with your operations and TOS and that all extensions are tested and validated against each new upgrade release.
• EDI Management - Navis provides 24x7 EDI monitoring and real-time EDI error resolution for your terminal. Navis also provides a setup of new trading partners, mailboxes, message types, and translations, handling the complexity of maintaining your EDI on your behalf.

More than a year ago, Navis launched Navis 360 Managed Services with the goal of helping customers make the most of their terminal investments. By offering a suite of offsite services at attractive and predictable pricing, Navis 360 Managed Services provides valuable support for N4 TOS implementations, terminal IT Infrastructure management and N4 TOS upgrades. Customers can leverage Navis’ global expertise and technology resources, freeing up limited onsite resources to focus on the business of running their terminals.

Since the launch of Managed Services, interest from existing and new Navis customers has been very high, and demand is growing for an expanded services portfolio that meets even more terminal needs, both from the operational and from the IT side of the business. With the introduction of these two new Managed Services, Navis is taking the next step in the expansion of the Managed Services portfolio, responding to the two most frequently requested options.

“As we’ve talked to more and more customers about how Managed Services can help their terminals with day-to-day operational tasks, we’ve learned that many customers have had an interest in technical help around their EDI operations and the maintenance of their library of customizations and extensions,” said Andy Clason, Vice President of Navis Managed Services globally. “I’m happy to say that we’re now able to meet those needs with these new Managed Services.”

For more information visit www.navis.com and to register for the Managed Services webinar on August 11 visit https://engage.navis.com/360managedservices.

About Navis, LLC

Navis, a part of Cargotec Corporation, is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com

About Cargotec Corporation

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2019 totalled approximately EUR 3.7 billion and it employs around 12,000 people. www.cargotec.com

Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Geena Pandolfi
Affect
T+1 212 398 9680
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− Q CELLS has signed an agreement to purchase a 100% stake in Geli, a leading energy storage solutions and software provider

− Combined capabilities provide smart energy solutions to customers

− Acquisition marks Q CELLS’ expansion into the U.S. solar + storage market beyond existing solutions in Europe and Australia

IRVINE, Calif.--(BUSINESS WIRE)--Q CELLS, a renowned total energy solutions provider in solar cell and module, energy storage, downstream project business and energy retail, announced today that it has signed an agreement to acquire a 100% stake in San Francisco-based energy storage solutions company Growing Energy Labs, Inc. (Geli). The transaction is subject to customary closing conditions, including regulatory approvals.

Geli’s end-to-end software platform streamlines the energy storage development process, offering the industry’s leading solution for design, automation, and management of Battery Energy Storage Systems (BESS). Geli’s products, powered by artificial intelligence, determine the optimal size of the BESS, and maximize the stacked revenue potential for customer deployments. Geli is a pioneer in advancing BESS deployments coupled with solar and EV charging infrastructure and co-optimizing these unique assets with any electricity tariff or load profile. Geli’s products leverage an advanced cloud architecture and Industrial IoT technologies that support scalability and extensibility across multiple geographies, market segments, and hardware solutions.

Q CELLS has already launched various integrated energy solutions globally, including in Europe and Australia. Q CELLS’ acquisition of Geli is its first of an energy storage solutions company and marks its entrance into the U.S. C&I distributed energy market. Leveraging Geli’s proprietary artificial intelligence technology for designing, automating, and managing energy storage systems, Q CELLS will be able to provide integrated energy solutions through packaged hardware and software capabilities (solar+storage).

“There is increasing demand in the energy storage space for comprehensive energy solutions. We are excited to welcome the Geli team and work together to strengthen our competitiveness in the global distributed energy market. Q CELLS and Geli’s combined capabilities will allow us to provide smart energy solutions to our customers and together we can unfold the next chapter towards a cleaner tomorrow.” Hee Cheul (Charles) Kim, CEO of Q CELLS said.

“We are excited to join forces with Q CELLS,” Dan Loflin, CEO of Geli said. “Q CELLS shares our vision of the transformative power of renewables and the Internet of Energy to make the planet a cleaner, better place to live. Combining with Q CELLS will accelerate Geli’s product roadmap and strategy, bringing greater value to all of our customers and partners in all of our markets.”

About Q CELLS

Q CELLS is a renowned total energy solutions provider in solar cell and module, energy storage, downstream project business and energy retail. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with operations all over the world. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Q CELLS provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: http://www.q-cells.com.

About Geli

Geli, which stands for Growing Energy Labs, Inc., provides software and business solutions for designing, automating, and managing energy storage systems. Geli’s suite of products creates an ecosystem where project developers, OEMs, financiers, and project operators can deploy advanced energy projects using a seamless hardware-agnostic software platform. Geli’s solutions are powered by sophisticated artificial intelligence algorithms and years of industry experience.

Founded in 2010 by Ryan Wartena and Crispell Wagner, Geli’s software actively manages megawatts of projects deployed around the world. Geli is headquartered in San Francisco, CA and has an office in Melbourne, Australia.

Safe-Harbor Statement

This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and Q CELLS’ operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Q CELLS America, Media
Katie Kim
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DUBLIN--(BUSINESS WIRE)--The "Transportation Composites - Global Market Outlook (2019 -2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Transportation Composites market accounted for $30.03 billion in 2019 and is expected to reach $88.73 billion by 2027 growing at a CAGR of 14.5% during the forecast period.

Increasing demand for light-weight materials and fuel-efficient vehicles and growing usage of composites in commercial aircraft are the major factors propelling market growth. However, the high processing and manufacturing cost are hampering market growth.

Transportation composites are widely used in aquatic, aerospace & defense and automotive, along with other business. Composites offer higher properties, such as high abrasion resistance, improved stiffness, the high modulus, excellent strength, low density, outstanding chemical resistance and low creep, which build them suitable for use in automotive machinery, internal car panels, aircraft structures and others.

Companies Mentioned

• Royal DSM
• Toray Industries Inc.
• Teijin Limited
• Solvay
• Mitsubishi Chemical Holdings Corporation
• Gurit Holding AG
• Jushi Group
• SGL Group
• Owens Corning
• Hexcel Corporation
• Norco Composites & Grp
• Bombardier
• Lockheed Martin
• Feadship
• Lee Aerospace
  

What the report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company Profiling with detailed strategies, financials and recent developments
• Supply chain trends mapping the latest technological advancements

Key Topics Covered:

1 Executive Summary

2 Preface

2.1 Abstract

2.2 Stake Holders

2.3 Research Scope

2.4 Research Methodology

2.4.1 Data Mining

2.4.2 Data Analysis

2.4.3 Data Validation

2.4.4 Research Approach

2.5 Research Sources

2.5.1 Primary Research Sources

2.5.2 Secondary Research Sources

2.5.3 Assumptions

3 Market Trend Analysis

3.1 Introduction

3.2 Drivers

3.3 Restraints

3.4 Opportunities

3.5 Threats

3.6 Application Analysis

3.7 Emerging Markets

3.8 Impact of Covid-19

4 Porters Five Force Analysis

4.1 Bargaining power of suppliers

4.2 Bargaining power of buyers

4.3 Threat of substitutes

4.4 Threat of new entrants

4.5 Competitive rivalry

5 Global Transportation Composites Market, By Manufacturing Process

5.1 Introduction

5.2 Injection Molding Process

5.3 Resin Transfer Molding Process (RTM)

5.4 Compression Molding Process

6 Global Transportation Composites Market, By Fiber

6.1 Introduction

6.2 Carbon

6.3 Glass

6.4 Natural

7 Global Transportation Composites Market, By Resin

7.1 Introduction

7.2 Thermoplastic

7.2.1 Polyamide (PA)

7.2.2 Polypropylene (PP)

7.2.3 Polyphenylene Sulphide (PPS)

7.3 Thermoset

7.3.1 Polyester

7.3.2 Vinyl Ester

7.3.3 Epoxy

8 Global Transportation Composites Market, By Transportation Type

8.1 Introduction

8.2 Waterways

8.2.1 Sailboat

8.2.2 Cruise Ship

8.2.3 Powerboat

8.3 Roadways

8.3.1 Recreational Vehicles

8.3.2 Bus, Trucks, and Other Heavy Vehicles

8.3.3 Automotive

8.4 Railways

8.4.1 Passenger Rails

8.4.2 High Speed and Bullet Trains

8.4.3 Metros and Monorails

8.5 Airways

8.5.1 Defense

8.5.2 Civil

9 Global Transportation Composites Market, By Application

9.1 Introduction

9.2 Exterior

9.3 Interior

10 Global Transportation Composites Market, By Geography

10.1 Introduction

10.2 North America

10.2.1 US

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 Italy

10.3.4 France

10.3.5 Spain

10.3.6 Rest of Europe

10.4 Asia Pacific

10.4.1 Japan

10.4.2 China

10.4.3 India

10.4.4 Australia

10.4.5 New Zealand

10.4.6 South Korea

10.4.7 Rest of Asia Pacific

10.5 South America

10.5.1 Argentina

10.5.2 Brazil

10.5.3 Chile

10.5.4 Rest of South America

10.6 Middle East & Africa

10.6.1 Saudi Arabia

10.6.2 UAE

10.6.3 Qatar

10.6.4 South Africa

10.6.5 Rest of Middle East & Africa

11 Key Developments

11.1 Agreements, Partnerships, Collaborations and Joint Ventures

11.2 Acquisitions & Mergers

11.3 New Product Launch

11.4 Expansions

11.5 Other Key Strategies

12 Company Profiling

12.1 Royal DSM

12.2 Toray Industries Inc.

12.3 Teijin Limited

12.4 Solvay

12.5 Mitsubishi Chemical Holdings Corporation

12.6 Gurit Holding AG

12.7 Jushi Group

12.8 SGL Group

12.9 Owens Corning

12.10 Hexcel Corporation

12.11 Norco Composites & Grp

12.12 Bombardier

12.13 Lockheed Martin

12.14 Feadship

12.15 Lee Aerospace

For more information about this report visit https://www.researchandmarkets.com/r/6os16c

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Transaction is the third acquisition by Presidio since 2018 and represents an expansion from the western Anadarko Basin into the STACK play of central Oklahoma

FORT WORTH, Texas--(BUSINESS WIRE)--Presidio Investment Holdings LLC (“Presidio Petroleum”, “Presidio”, or the “Company”) announced today that it has completed the acquisition of substantially all of the oil and natural gas producing properties of Templar Energy LLC and certain affiliates in the Anadarko Basin (“Templar”). Presidio Petroleum is a leading oil and gas efficiency company founded to acquire, operate, and optimize producing oil and natural gas properties in the Anadarko Basin and other established U.S. onshore basins. The Company leverages engineering efficiency and the embedding of technology to improve decision-making, achieve best-in-class operations, and enhance free cash flow in an environmentally and socially responsible manner.

Chris Hammack, Co-Founder and Co-Chief Executive Officer of Presidio Petroleum, said, “We are pleased to expand our Anadarko Basin operations with the addition of Templar’s high quality assets spanning the western Anadarko Basin of Texas and Oklahoma to the STACK play of central Oklahoma. This acquisition is a logical extension of the asset optimization strategy we established upon founding Presidio, and we are excited to apply the knowledge gained from our previous two acquisitions in the Basin and decades of operational experience to unlock value responsibly from the Templar assets. We believe our extensive asset base, further enhanced by this acquisition, makes Presidio the logical consolidator of the Anadarko Basin.”

Will Ulrich, Co-Founder and Co-Chief Executive Officer of Presidio Petroleum, added, “Presidio was founded with a differentiated strategy of pursuing attractive risk-adjusted returns through operational excellence and capital-efficient growth via acquisition, not drilling activity. We are excited to have completed this transaction consistent with that strategy and welcome our new employees from Templar to the Presidio team. At Presidio, we view ourselves as the leading custodians of mature, long-lived oil and gas properties in the U.S., and we are confident in our ability to serve as responsible stewards while also achieving our financial and operational objectives.”

Robert Lee, Managing Director of Morgan Stanley Energy Partners (“MSEP”), said, “We are delighted to make this second follow-on investment in support of further strategic consolidation in the Anadarko Basin. We believe Presidio’s prudent operational and risk management philosophy dating back to its inception has put the Company on solid footing to continue to execute on acquisitions in a highly dislocated energy market. We look forward to supporting the Presidio team as they implement their best-in-class operating practices on these assets.”

Headquartered in Fort Worth, Texas, Presidio Petroleum is a portfolio company majority-owned by investment funds managed by Morgan Stanley Energy Partners, the energy private equity business of Morgan Stanley Investment Management. This transaction represents the second add-on acquisition for the Company since MSEP’s initial investment in May 2018.

About Presidio Petroleum

Headquartered in Fort Worth, Texas, Presidio Petroleum is a leading oil and gas efficiency company with assets located in the Anadarko Basin of Texas, Oklahoma, and Kansas. For further information about Presidio Petroleum, please visit www.presidiopetroleum.com.

About Morgan Stanley Energy Partners

Morgan Stanley Energy Partners is the energy-focused private equity business of Morgan Stanley Investment Management that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. Morgan Stanley Investment Management together with its investment advisory affiliates has more than 700 investment professionals around the world and $665 billion in assets under management or supervision as of June 30, 2020. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.

Morgan Stanley Media Relations: Lauren Bellmare, 212.761.5303

TALLAHASSEE, Fla.--(BUSINESS WIRE)--Sunshine Boats and Motors, in conjunction with Yamaha Marine, announced today that Dustin Bearden is the first apprentice to successfully complete the Yamaha Marine Apprentice Program (YMAP) offered through Yamaha Marine University™ (YMU). YMAP includes 4,000 hours of comprehensive, hands-on Yamaha outboard technician training supported by an online platform.

The program pairs seasoned mentors in dealership service departments with novice technicians to help them learn the key skills they will need to further develop their careers in the marine industry. Dealership owner and Yamaha Master Technician Pete Magnuson served as Bearden’s mentor throughout the program.

“We’re incredibly proud of Dustin’s accomplishments. As a former apprentice myself, I understand the importance of programs like YMAP,” said Magnuson. “Dustin plans to continue his training as he works toward his Yamaha Master Technician certification. Once he has achieved this goal, Sunshine Boats and Motors will have three master technicians on staff: Dustin, co-owner Marvin Lawler and myself. Our ability to serve our customers only improves with Dustin on board.”

Magnuson learned about YMAP in 2018 through Jeff Crain, his Yamaha Marine District Service Manager. Together, Crain, Magnuson and Bearden walked through the software until mentor and apprentice were in the habit of logging hours every morning to keep track of their progress. The veteran marine dealership owner quickly took note of the advantages offered through the program.

“Through YMAP, we both learned a lot about time management and efficiency. When you log hours every day, you have a deeper understanding of how you spend your time and which jobs require more attention,” said Magnuson. “Jeff was also an invaluable resource for us. He is the one responsible for making sure this program was registered with the state of Florida as well. He handled the paperwork end for us so that we could focus on the work we had to complete.”

Though Sunshine Boats and Motors is a smaller shop, its 25-year presence in Tallahassee makes it one of the more established shops in the area. The addition of another qualified technician gives the shop an even bigger competitive advantage. For Bearden, the experience working side-by-side with a knowledgeable mentor is invaluable.

“When I graduated from trade school, I worked with a career services representative to try to find a dealership close to my hometown of Thomasville, Ga.,” said Bearden. “Sunshine was a perfect fit for me. Working with two master technicians in a small shop setting and leveraging the tools we had through YMAP, I was able to gain a lot of experience in a short period of time. I’ve also attended a couple of Yamaha Training classes in Kennesaw, and I look forward to completing my Master Technician certification within the next two years. This program has without doubt put me on a fast track to solidifying my career as a successful technician.”

For more information about the Yamaha Marine Apprentice Program, please visit ymutechs.com or call (800) 854-4876 Option 3.

Yamaha Marine products are marketed throughout the United States and around the world. Yamaha Marine U.S. Business Unit, based in Kennesaw, Ga., supports its 2,400 U.S. dealers and boat builders with marketing, training and parts for Yamaha’s full line of products and strives to be the industry leader in reliability, technology and customer service. Yamaha Marine is the only outboard brand to have earned NMMA^®’s C.S.I. Customer Satisfaction Index award every year since its inception.

REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.

Melissa Boudoux
Communications Manager
Yamaha Marine Engine Systems
Office: (770) 701-3269
Mobile: (404) 381-7593
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Neal Wheaton
Wilder+Wheaton for
Yamaha Marine Engine Systems
Mobile: (404) 317-0698
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AUSTIN, Texas--(BUSINESS WIRE)--Fluence by OSRAM (Fluence), a leading global provider of energy-efficient LED lighting solutions for commercial cannabis and agriculture production, announced today it has partnered with Burnaby, British Columbia-based Quality Wholesale Ltd., a leading garden wholesaler specializing in the distribution of agricultural products throughout Canada.

Celebrating its 20th year of serving the horticulture industry, Quality Wholesale is regarded for its reliability in supplying the best industry products to growers, from hobby and micro cultivators to large commercial cultivators. Under the partnership, Quality Wholesale will distribute Fluence LED lighting solutions to retail garden centers and commercial growers throughout Canada starting in August.

“Collaborating with Quality Wholesale enables us to expand our footprint and reach more growers across Canada,” said Ron DeKok, vice president of sales for Fluence. “We are proud to partner with a company dedicated to helping customers achieve successful cultivation results that also embodies its namesake by carrying top-of-the-line inventory and offering an experience grounded in quality service.”

As the demand for advanced, high quality LED lighting solutions increases, Fluence and Quality Wholesale are making Fluence products easily and readily available to retailers and licensed producers, helping growers access the latest technology and research.

“We are thrilled to partner with Fluence, a true leader in the lighting industry,” said Michael Montagano of Quality Wholesale. “Fluence’s commitment to exploring science, conducting research and developing technology to increase the efficacy of horticulture lighting thoroughly impressed our team. Our focus is to always provide the highest quality products to our customers. With Fluence, we’re confident that growers are investing in the proven technology that they deserve.”

For more information about Quality Wholesale, visit www.qualitywholesale.ca. For more information about Fluence, visit www.fluence.science.

About Fluence by OSRAM

Fluence Bioengineering, Inc., a wholly-owned subsidiary of OSRAM SYLVANIA, creates powerful and energy-efficient LED lighting solutions for commercial crop production and research applications. Fluence is a leading LED lighting supplier in the global cannabis market and is committed to enabling more efficient crop production with the world’s top vertical farms and greenhouse produce growers. Fluence global headquarters are based in Austin, Texas, with its EMEA headquarters in Rotterdam, Netherlands. For more information about Fluence, visit www.fluence.science.

About Quality Wholesale Ltd.

Quality Wholesale Ltd. is a privately held garden and agricultural wholesaler specializing in distributing horticultural products throughout North America. The company provides unparalleled distribution capabilities and an exceptional service experience. Quality Wholesale is dedicated to offering an industry-leading, innovative, trusted product portfolio to a variety of businesses. Quality Wholesale is celebrating 20 years of serving the horticultural industry, and is based in Burnaby, British Columbia, Canada. For more information about Quality Wholesale, visit www.qualitywholesale.ca.

Emma Chase
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512-917-4319

• International IntelliTech firm Kaiserwetter advances its award-winning, cloud-based IoT & AI platform – ARISTOTELES – to help renewable energy asset owners, investors and financing banks minimize investment risks and maximize returns
• Company’s next-generation platform provides real-time, predictive performance analysis of solar and wind power installation and now integrates global electric power spot market pricing data

NEW YORK--(BUSINESS WIRE)--#AI--International energy IntelliTech company Kaiserwetter Energy Asset Management (Kaiserwetter) today announces the launch of ARISTOTELES 3.2, the next-generation of its multiple award-winning, cloud-based Internet of Things (IoT) and Artificial Intelligence (AI) platform ARISTOTELES, to equip users with unprecedented insight into the technical and financial performance of their renewable energy assets.

“As a result of continuous innovation by the Kaiserwetter team, we are beyond pleased to offer ARISTOTELES users a broader scope of data intelligence for their renewable energy investments,” said Hanno Schoklitsch, CEO of Kaiserwetter. “With this upgrade, Kaiserwetter makes its debut in the solar power sector which, like wind power, represents an industry that is critical to fulfilling our core mission of accelerating the decarbonization of our global energy system.”

Kaiserwetter’s flagship IoT & AI platform – ARISTOTELES – leverages smart data analytics, predictive analytics and machine learning algorithms to maximize the power generation of connected renewable energy installations. With the actionable data intelligence ARISTOTELES offers, financing banks, investors and asset owners can evaluate their respective portfolio’s operational and financial status to help enable early asset failure detection, inform investment decisions and secure their debt service coverage ratio.

“Our next-generation of ARISTOTELES is capable of delivering the same caliber of data intelligence for solar power systems. Equally exciting is the addition of global electric power markets analytics, which users can use to calculate and predict in real-time the revenues generated by their connected assets,” said Schoklitsch. “This yields insights into the tradability beyond regulatory feed-in tariffs and helps to compare the long-term attractiveness of different markets since our platform accounts for historical electric power market activity, too.”

The launch of this expanded version of ARISTOTELES coincides with the rapid technical improvement of solar power equipment, including PV modules, which has made solar energy significantly more cost-effective, productive and competitive with wind and other energy sources than it was just one decade ago. Investors have taken note and have progressively ratcheted-up their engagement in the solar power sector.

Kaiserwetter upgraded ARISTOTELES to facilitate and accelerate this trend. Today, ARISTOTELES is capable of integrating data from solar power installations ranging in size from 10 kilowatt (kW) PV roof systems to over 200 megawatt (MW) utility-scale solar parks and using machine learning algorithms to forecast power output, anticipate the effects of context factors and benchmark the financial performance of a user’s assets against that of their peers.

By integrating electricity market data, ARISTOTELES enables the comparison of a user’s own revenues with global electric power market price curves, making analysis of potential asset revenue more precise than ever. In combination with external data, such as meteorological factors, ARISTOTELES enables investors and renewable energy asset owners to both continuously maximize the operational and financial performance of their wind and solar investments and minimize investment risks.

About Kaiserwetter Energy Asset Management LLC

Kaiserwetter is the market's first energy IntelliTech company, providing Data as a Service (DaaS) to catalyze investment into renewable energy and reduce global greenhouse gas emissions.

Kaiserwetter's multiple award-winning, cloud-based IoT & AI platform ARISTOTELES uses smart data analytics, predictive analytics and machine learning to minimize investment risk and maximize investment returns.

Established in 2012, the company is headquartered in Hamburg and has offices in Madrid and New York. In 2020, the company will open offices in China and India.

For more information about Kaiserwetter, visit www.kaiserwetter.energy, or follow the company on LinkedIn and Twitter.

Press Contact
Jenny Wang
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814.506.4597

DUBLIN--(BUSINESS WIRE)--The "Solar Simulators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 8th edition of this report. The 241-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Solar Simulators Market to Reach $9.6 Billion by 2027

Amid the COVID-19 crisis, the global market for Solar Simulators estimated at US$6.8 Billion in the year 2020, is projected to reach a revised size of US$9.6 Billion by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027. Class AAA, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$4.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Class ABA segment is readjusted to a revised 5.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 4.8% CAGR

The Solar Simulators market in the U.S. is estimated at US$2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 4.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.

Class ABB Segment to Record 4% CAGR

In the global Class ABB segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$1.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.

Competitors identified in this market include, among others:

• Abet Technologies, Inc.
• Asahi Spectra Co., Ltd.
• Endeas Oy
• Iwasaki Electric Co., Ltd.
• Meyer Burger Technology Ltd.
• Newport Corporation
• Nisshinbo Mechatronics, Inc.
• OAI
• Sciencetech-Inc.
• Solar Light Company, Inc.
• Spectrolab, Inc.
• Wacom Electric Co., Ltd.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Global Competitor Market Shares
• Solar Simulator Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/xofpef

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Creating Visible Connections Between Solar Energy & Artistic Expression

SOMERVILLE, Mass.--(BUSINESS WIRE)--#batterystorage--SmartFlower Solar, the Boston-based solar company behind the award-winning Smartflower, introduced its first multi-unit Smartflower installation in Massachusetts at Assembly Row, the growing neighborhood just minutes from downtown Boston. This multi-unit installation is one of many planned installations in Boston, inspiring a clean energy future within the community.

SmartFlower Solar has installed thousands of Smartflowers worldwide and partnered with multinational companies such as Adidas, Siemens, Carlsberg, and Mohawk Group in order to bridge artistry, innovation and renewable energy with employees, consumers and communities. “The installation of the Smartflower solar systems at Assembly Row represents the blending of superior performance and artful design with Federal Realty’s important sustainability and community engagement initiatives,” said Jim Gordon, CEO of SmartFlower Solar, “Watching the Smartflowers track the sun educates and inspires visitors and occupants toward a better energy and environmental future.”

The property’s developer, Federal Realty Investment Trust, installed two Smartflowers at Assembly Row along with other public art projects, such as “Bloom”, a series of interactive sculptures in partnership with Boston-based Artists For Humanity. This environmental statement not only produces clean energy, but also enhances the beauty of the existing art installations.

“As we continuously look to increase sustainability and add innovation at Assembly Row, this partnership with SmartFlower Solar was a terrific opportunity,” said Assembly Row General Manager David Middleton. “The electricity generated by the installation will help offset the electricity we use in lighting our other public art.”

About SmartFlower Solar

SmartFlower Solar is headquartered in Boston, Massachusetts and manufactures and markets the revolutionary and patented Smartflower solar energy system. The products platform consists of the Smartflower, Smartflower +Plus – which has an integrated battery storage component – and the Smartflower EV which is a solar powered electric vehicle charger. The company sells its products globally to a wide range of residential, commercial and institutional energy users searching for iconic design and optimal solar and energy storage solutions. Learn more at www.smartflower.com.

About Assembly Row

Assembly Row is one of Greater Boston’s hottest new neighborhood destinations. Conveniently located along I-93 and with direct access to Downtown Boston via the Orange Line and its dedicated MBTA station, Assembly Row is a dynamic neighborhood that offers first-class working, living, shopping, entertainment, and dining experiences. With Phase I and II now complete, Assembly Row boasts 830k square feet of office space, 1,000 residential units, a 158-key hotel, and 500k square feet of retail, restaurant, and entertainment. When fully built across 40 acres along the Mystic River, the Assembly Row neighborhood will feature a total of 635,000 square feet of retail and restaurant space, 2.0 million square feet of office space, and 1,800 residences.

Assembly currently offers more than 30 nationally branded shops including names like Polo Ralph Lauren, Nike Factory, Saks Fifth Avenue OFF 5TH, and J. Crew Factory. Entertainment options include the 12-screen AMC Assembly Row 12 and IMAX, the only LEGOLAND Discovery Center in New England and Lucky Strike Social. More than a dozen eateries line the Riverfront Park and streets, including Legal On The Mystic, Earl’s Kitchen + Bar, Tony C’s, CaffeNero, River Bar and The Smoke Shop. For more information please visit AssemblyRow.com.

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 104 properties include approximately 2,900 tenants, in 24 million square feet, and approximately 2,800 residential units.

Federal Realty has increased its quarterly dividends to its shareholders for 53 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

Press contacts:

For all inquiries regarding SmartFlower Solar, please contact Jim Gordon, at This email address is being protected from spambots. You need JavaScript enabled to view it., or (617) 308-1122. For more information about Smartflower, visit smartflower.com.

For inquiries regarding Assembly Row, contact Wendy Pierce, This email address is being protected from spambots. You need JavaScript enabled to view it..

For additional information about retail leasing opportunities at Assembly Row, contact Liz Ryan, Director of Leasing, at This email address is being protected from spambots. You need JavaScript enabled to view it. or (617) 684-1508. For additional information on the residences at Assembly Row, visit assemblyrow.com/live. For information on office leasing, visit assemblyrowoffices.com.

For SmartFlower Solar
Jim Gordon
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(617) 308-1122
smartflower.com

For Assembly Row
Wendy Pierce
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Liz Ryan
Director of Leasing
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(617) 684-1508

HOUSTON--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (NYSE: ROYT) today announced that it has received notification from the New York Stock Exchange (“NYSE”) of its determination to suspend trading of the Trust’s units of beneficial interest (the “Trust units”), effective as of the close of trading on August 5, 2020, and to initiate proceedings to delist the Trust units. The determination to commence the delisting proceeding results from the Trust’s inability to satisfy the continued listing compliance standards set forth under Rule 802.01C of the NYSE Listed Company Manual because the average closing price of the Trust units fell below $1.00 over a 30 consecutive trading-day period that ended November 25, 2019, and the Trust was unable to regain compliance with the applicable standards within a cure period that concluded on August 5, 2020.

As a result of the suspension, the Trust expects that the Trust units will begin trading on August 6, 2020 under the symbol “ROYTL” on the OTC Pink Market, which is operated by OTC Markets Group Inc. (“OTC Pink”). To be quoted on OTC Pink, a market maker must sponsor the security and comply with SEC Rule 15c2-11 before it can initiate a quote in a specific security. OTC Pink is a significantly more limited market than the NYSE, and the quotation of the Trust units on OTC Pink may result in a less liquid market available for existing and potential unitholders and could further depress the trading price of the Trust units. There is no assurance that an active market in the Trust units will develop on OTC Pink.

Cautionary Statement Regarding Forward-Looking Information

This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the Trust’s expectations regarding the timing of the transition of the quotation of the Trust units to OTC Pink and expectations regarding the trading of the Trust units on OTC Pink. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trustee does not intend, and does not assume any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2018 and all of its other filings with the SEC. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.

Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555

DUBLIN--(BUSINESS WIRE)--The "Global Industrial Gasket Market By Material Type, by Product Type, By End User, By Region; Trend Analysis, Competitive Market Share & Forecast, 2016-2026." report has been added to ResearchAndMarkets.com's offering.

The Global Industrial Gasket Market that has gained momentum in recent years with a CAGR of 5.43%, is expected to touch the milestone of USD 15.18 Billion in value terms over the forecast period 2020-2026.

Growing demand from oil and gas-related facilities in the Gulf countries is enhancing the industrial gasket market. The increasing use of Polytetrafluoroethylene gaskets and strict leakage regulations enforced by the Environmental Protection Agency to avoid environmental damage also stimulate market growth. With the rise in industrial development and urbanization, the number of manufacturing plants, machinery, automobiles, and various other mechanical instruments that use a gasket has increased considerably. It has affected business growth positively.

This in-depth analysis of the market provides information about the growth potential, upcoming trends, and statistics of the Industrial Gasket market size & forecast. The report promises to provide insights about the state-of-the-art technology of Industrial Gasket and industry that help decision-makers make more sound strategic decisions. Not only that, the report also analyzes the market drivers and challenges and underlying opportunities.

Wide range of applications in different industries is the primary driver of the Industrial Gasket market

The major factors driving the growth of the industrial gaskets market are the full range of applications of these gaskets in various end-user industries, stringent government regulations for controlling leakage to prevent environmental harm, and the demand from oil and gas-related installations. The application of these gaskets is growing due to their superior property of resistance to chemicals, alkaline, acids, and others, as well as persistence against extreme temperature, intense pressure, different conditions, and others in various industries.

Increasing demand in oil and gas industries

Oil and gas industries use gaskets widely to prevent propelling leakage or wastage of costly fluids or gas in their plants. Because of their unique characteristic to withstand intense pressure conditions, compressive loads, and heat, the gasket offers remarkable utility and advantage across various verticals. However, price instability of its raw materials like rubber, silicone, graphite, etc., curtails the development of the industrial gasket sector. The increasing number of refineries in the Asia Pacific region is also expected to create multiple growth opportunities for the existing players in the global gasket market.

Raw material price fluctuation is the major restraint of the Industrial Gasket market

The major market challenge identified is the volatility in the prices of the raw material. The primary raw materials needed are mild steel sheets, sheets of asbestos, and copper sheets. The cost of the material depends on the number of factors that include material formulation, material production, quality, availability, and others. One of the significant challenges faced by the industrial gaskets market is the fluctuating cost of raw material.

North America is expected to witness significant growth in the market during the forecast period

North America dominates the global industrial gasket market, and it is expected to grow at a significant rate over the forecast period. The ever-increasing deployment of wind power in Asia-Pacific is inducing demand for various gaskets in this region. China is the largest buyer and exporter of gasket goods in the world. The growing number of refineries in China to meet the rising demand for fuel pushes the demand for industrial gasket products in the Asia-Pacific region.

Industrial Gasket: Competitive Landscape

Major players for Industrial Gasket Market include Klinger Limited, Garlock Sealing Technologies, Spira Power, Denver Rubber Company, Goodrich Gasket Private Limited, Amg Sealing Limited, Oman Gasket Factory, Gasket Manufacturing Company, Hennig Gasket & Seals Inc., Phelps Industrial Products, and Leader Gasket Technologies and other prominent players.

Key Topics Covered

1. Research Framework

2. Research Methodology

3. Executive Summary

4. Global Industrial Gasket Industry Insights

4.1. Industry Value Chain Analysis

4.2. DROC Analysis

4.2.1. Growth Drivers

4.2.2. Restraints

4.2.3. Opportunities

4.2.4. Challenges

4.3. Technological Landscape/Recent Development

4.4. Company Market Share Analysis, 2019

4.5. Porter's Five Forces Analysis

4.5.6. Impact of COVID-19

5. Global Industrial Gasket Market Overview

5.1. Market Size & Forecast by Value, 2016-2026

5.1.1. By Value (USD Million)

5.2. Market Share & Forecast

5.2.1. By Material Type

5.2.1.1. Semi-Metallic

5.2.1.2. Non-Metallic

5.2.1.3. Metallic

5.2.2. By Product Type

5.2.2.1. Soft Gasket

5.2.2.2. Spiral Wound Gasket

5.2.2.3. Ring Joint Gasket

5.2.2.4. Other Gasket

5.2.3. By End-user

5.2.3.1. Power Generation

5.2.3.2. Industrial Machinery

5.2.3.3. Chemical Processing

5.2.3.4. Refineries

5.2.3.5. Pulp & Paper

5.2.3.6. Food & Pharmaceuticals

5.2.3.7. Others

5.2.4. By Region

5.2.4.1. North America

5.2.4.2. Europe

5.2.4.3. Asia-Pacific

5.2.4.4. Latin America

5.2.4.5. Middle East & Africa

6. North America Industrial Gasket Market

7. Europe Industrial Gasket Market

8. Asia-Pacific Industrial Gasket Market

9. Latin America Industrial Gasket Market

10. Middle East & Africa Industrial Gasket Market

11. Company Profiles (Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

11.1. Klinger Limited

11.2. Garlock Sealing Technologies

11.3. Spira Power

11.4. Denver Rubber Company

11.5. Goodrich Gasket Private Limited

11.6. Amg Sealing Limited

11.7. Oman Gasket Factory

11.8. Gasket Manufacturing Company

11.9. Hennig Gasket & Seals Inc.

11.10. Phelps Industrial Products

11.11. Leader Gasket Technologies

11.12. Centauro S.R.L.

11.13. Smith Gaskets

11.14. Hydro Silica

11.15. Phelps Industrial Products

11.16. Temac

11.17. Leader Gasket Technologies

11.18. Pidemco

11.19. Mercer Gasket & Shim

11.20. IGP

11.21. Other Prominent Players

For more information about this report visit https://www.researchandmarkets.com/r/m8f8s9

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Laura Wood, Senior Press Manager
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (TSX: SPB):

August 2020 Cash Dividend - $0.06 per share

Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of August 2020 of $0.06 per share payable on September 15, 2020. The record date is August 31, 2020 and the ex-dividend date will be August 28, 2020. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.

Upcoming Release of 2020 Second Quarter Results and Conference Call

Superior expects to release its 2020 second quarter results on Wednesday, August 12, 2020 after market close. A conference call and webcast to discuss the 2020 second quarter results is scheduled for 10:30 AM EDT on Thursday, August 13, 2020. To participate in the call, dial: 1-844-389-8661. Internet users can listen to the call live, or as an archived call, on Superior's website at: www.superiorplus.com under the Events section.

About the Corporation

Superior consists of three primary operating businesses: Canadian propane distribution includes the distribution of retail propane in Canada and the marketing of wholesale natural gas liquids in Canada and California, U.S. propane distribution includes the distribution of retail propane and other liquid fuels primarily in the Eastern United States, as well as the Midwest and California, and Specialty Chemicals includes the production and distribution of specialty chemicals products.

For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).

Forward Looking Information

This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2019, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.

Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015

Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
Toll Free: 1-866-490-PLUS (7587)
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Public Safety Power Shutoffs Predicted to Be Smaller, Shorter and Smarter in 2020

SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) is conducting a company-wide, full-scale emergency exercise to prepare for the upcoming wildfire season this week.

During the five-day exercise, employees from across PG&E’s service territory simulate real-life events that could happen during a real Public Safety Power Shutoff (PSPS). The drills include testing new procedures that will improve communications to customers, shorten the length of power outages and reduce the number of customers affected when power has to be shut off in an effort to reduce the risk of wildfires.

Several real-world activities, including line inspections by both ground crews and helicopters are happening to familiarize crews with conditions on the ground and provide additional inspections to lines in high-fire risk areas. During the drill, PG&E and contractor personnel will practice those inspections in order to reduce the time it takes to safely return electrical service to its customers. No actual power interruptions will occur related to the drill.

Michael Lewis, interim president of Pacific Gas & Electric Company, said the exercise, which follows similar three-day exercises in June and July, creates invaluable experience for the company’s frontline workers, and improved coordination with state and local partners.

“Nothing is more important than keeping our customers and their communities safe. We also know that when we call a Public Safety Power Shutoff to meet that responsibility, it can disrupt lives and cause hardship. These exercises help us ensure that if we forecast dangerous weather and a real event becomes necessary, we will be ready to respond efficiently and effectively, while doing everything we can to minimize those impacts,” Lewis said.

The sole purpose of a PSPS is to reduce the risk of major wildfires caused by our infrastructure during severe weather. In the event of extreme weather conditions, PG&E will proactively de-energize lines, shutting off power for the safety of customers and communities. During an actual PSPS event, crews will inspect every component along de-energized lines in high fire-risk areas —inspecting from the sky and from the ground—to identify and repair damaged lines or equipment before restoring power.

Smaller, Shorter and Smarter

PG&E understands how challenging these power shutoff events are for its customers, particularly as people are spending more time at home. That’s why PG&E will only call a power shutoff when it is absolutely necessary for public safety and the company is working to make these shutoffs smaller, shorter and smarter in 2020 and beyond.

PG&E is using more than 730 advanced weather stations to pinpoint where severe weather is happening, installing technology that limits the size of outages and reduces the number of customers affected, and it is increasing its helicopter fleet from 35 to 65 exclusive use helicopters while adding more field crews cut restoration times in half.

Resources

PG&E offers our customers plentiful information that can help them prepare for a PSPS event.

• On pge.com/weather, you’ll find the updated PSPS potential forecast as well as local weather conditions.
• On pge.com/wildfiresafety, you’ll find everything that PG&E has done to reduce the impact the PSPS events and mitigate the risk of wildfire ignitions.
• And, on safetyactioncenter.pge.com, there are tips and checklists and videos to help you get ready for an emergency.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.

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415-973-5930

Three executives renowned for vision and execution join the hyper-growth SaaS company to help drive supply chain digitization and transformation across the B2B space

SAN FRANCISCO--(BUSINESS WIRE)--#leadership--ClearMetal, a leader in Continuous Delivery Experience (CDX) for supply chain and logistics solutions, today announced the addition of Ed Feitzinger to its Board along with two new Executive Advisors, Tom Linton and Walter Charles III.

Feitzinger was most recently VP of Global Logistics for Amazon, with prior roles as CEO of UTi Worldwide and VP Global Logistics at HP. At Amazon, Feitzinger was responsible for international inbound and outbound international logistics, as well as customer fulfillment in Amazon’s emerging countries. Linton most recently served as Chief Supply Chain Officer at Flex and was Chief Procurement Officer at both LG and Freescale. Charles served as Senior Vice President and Chief Procurement Officer at Allergan and held similar roles prior at Biogen, Kellogg, Kraft and Johnson & Johnson.

ClearMetal’s software platform helps companies dramatically reduce freight variability and improve customer experience. “E-commerce has made every shipper acutely aware of the impact of the supply chain on customer experience,” said Feitzinger. “I was captivated by how ClearMetal enables dynamic, door to door freight management, increasing on-time delivery over 50%, improving cash-flow, reducing inventory, and enhancing ClearMetal client’s customer experience.”

The COVID-19 pandemic has further exposed that supply chains are not set up to handle continuously evolving customer demands. Current available data is inaccurate, systems are antiquated and processes are generally rigid and conducted on a static versus continuous basis. For example, transport lead-times and customer promise dates are often generated by using a transit table that’s many months or a year old; shipments are usually monitored manually from carrier websites and statuses are emailed in excel files to customers. By contrast, ClearMetal’s CDX Data Platform is based on a continuous methodology and uses machine learning software to dynamically provide accurate lead-times, automatically monitor in-transit shipments and exceptions, and leverage real-time order visibility from supplier to customer all via a cloud-based software platform, portal, and set of APIs.

“Supply chain is about resiliency, agility and transparency,” said Linton. “Digitization alone counts for nothing if you do not provide your organization with a platform that enables these three elements. ClearMetal has cracked the code by providing trusted data that is foundational for any modern supply chain. Their applications geared toward dynamic transport planning, improvement of on-time-delivery metrics, and customer transparency are all exceptional while ClearMetal’s customer portal provides the differentiation that many supply chains need.”

ClearMetal’s ‘Continuous Delivery’ solutions help companies determine an accurate lead-time, promise-date, and inventory level based on freight transportation mode, carrier, routing and the likelihood of exceptions along that route. This solution set also enables real-time monitoring and exception management of shipments in transit. These capabilities help reduce transportation costs and improve reliability and cashflow. ClearMetal’s ‘Continuous Experience’ solutions include a unique Connect Portal that enables end to end visibility of shipments coming from suppliers, going out to customers, and while being handled by partners. This portal enables a company to receive inbound visibility of shipments coming from its suppliers so that the company can more accurately plan manufacturing production, drayage, and warehouse labor. In turn, the portal also provides this same order-level visibility of shipments sent outbound to customers-- enabling these customers to not only receive exception alerts but also self-serve by viewing the real-time status of shipments coming to them via a single trusted screen.

“As a CPO at a number of companies, I’ve seen my teams continually face the challenge of improving on-time-in-full metrics while simultaneously slashing logistics costs, all without the tools to enable success,” said Charles. “ClearMetal has something unique here, allowing procurement and supply chain teams to have near real-time insight on all inbound shipments as well as dynamic, trusted data to reduce wasted operational expenses.”

About ClearMetal:

ClearMetal, Inc., based in San Francisco, CA (USA), is a leader in the Continuous Delivery Experience (CDX), enabling supply chain organizations to optimize logistics and provide their customers with easy access to trusted, live information about their shipments and a customer experience that is a differentiator and revenue accelerant. The ClearMetal CDX Platform uses proprietary machine learning to break free from static-visibility paradigms and turn supply chains from a cost center to a competitive advantage. ClearMetal was founded by top software engineers, data scientists, and operations researchers from Stanford University, Google, and Silicon Valley and is funded by Eclipse Ventures, Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis Ventures, PSA Unboxed, DCLI, and the founders of GT Nexus, Navis, and Uber Freight. For more information visit www.clearmetal.com.

Stephanie Levinson
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312-796-0630