DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that Scott Rowe, president and chief executive officer, will present virtually at the Cowen Sustainability & Energy Transition Summit on Wednesday, June 9 at 3:10 p.m. ET.
A webcast of Mr. Rowe’s presentation will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
Fully End-to-End Merger Will Provide Customers New Single-Line Service and Unchanged Number of Route Options
Proposed Voting Trust Meets the Public Interest Test Under the Surface Transportation Board’s Current Merger Rules
MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--JJ Ruest, President and Chief Executive Officer of CN (TSX: CNR) (NYSE: CNI) and Patrick J. Ottensmeyer, President and Chief Executive Officer of Kansas City Southern (“KCS”) (NYSE: KSU) presented today at Bernstein’s 37th Annual Strategic Decisions Conference. In their prepared remarks and the fireside chat, both CEOs articulated how the combination of CN and KCS will create a fully end-to-end merger that will deliver significant public interest benefits for customers, ports, employees, communities and the environment.
“The economy in North America, especially now post-COVID, really needs a network of the kind that we are talking about putting together especially as it relates to USMCA. There is something in it for shareholders. There is something in it for customers. There is something in it for employees – this is a growth project. It will create jobs. There is something in it for the port operators, which connect to us. It will give them better access to more cities, more importers, more exporters, so they too can do what they do best.”
- JJ Ruest, president and chief executive officer of CN
“This combination will create a truly end-to-end network that will provide a new single line service to go after the I-35 freight corridor and the market opportunity that exists there. I think this will clearly be of interest to a lot of shippers as demonstrated by the support we have seen already, as well as create new competitive options that simply don’t exist today. We are combining two important segments that are already recognized as premium service segments, and this network is going to be unparalleled in terms of the access to markets, ports and the way we can participate in and help drive some of the economic growth we think will exist in the years ahead.”
- Patrick J. Ottensmeyer, president and chief executive officer of KCS
CN-KCS delivers compelling public interest benefits.
Both Ruest and Ottensmeyer made a compelling case for voting trust approval as the U.S. Surface Transportation Board (“STB”) reviews CN and KCS’ joint request under the current merger rules. As discussed during the presentation, CN and KCS’ joint motion for approval of the voting trust makes very clear that CN has shown there will be no unlawful, premature control of KCS; that KCS and CN are financially sound throughout and after the trust period; and that a voting trust is in the public interest.
The combination of CN and KCS will eliminate delays associated with interchanges and facilitate coordinated investment into new single-line routes. This will in turn reduce cycle and transit times, provide more reliable and timely service, and reduce costs.
A combined CN-KCS will also offer more cost-effective access to Southern markets in the United States and Mexico, accelerating USMCA’s economic benefits. That’s in addition to delivering compelling benefits for six major shipper market segments and significant environmental benefits by removing trucks from the road. The proposed combination has received broad-based support from across the CN and KCS stakeholder network, with more than 1,400 letters filed with the STB to date.
The CN-KCS combination will create an end-to-end merger with significant options for customers in the North-South corridor.
With CN’s commitment to divest KCS’ 70-mile line between New Orleans and Baton Rouge, the proposed combination creates an end-to-end merger and provides no risk to competition. In fact, customers will now be able to access new markets that were not previously available to them via efficient single-line service. Customers will continue to have multiple options to move goods along this corridor, including the availability to use an improved new CN-KCS route, five other Class I railroad routings, the Mississippi River and two major interstate highways. Customers will not lose any existing routing options because CN and KCS are committed to preserving access to all existing gateways to enhance route choices and to ensure robust price competition.
A replay of today’s webcast is available via the Investors section of CN and KCS’s websites at www.cn.ca/investors and investors.kcsouthern.com. For more information on CN’s pro-competitive combination with KCS, please visit www.ConnectedContinent.com.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
About Kansas City Southern
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com
Forward Looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Additional risks that may affect KCS’ results of operations appear in Part I, Item 1A “Risks Related to KCS’s Operations and Business” of KCS’ Annual Report on Form 10-K for the year ended December 31, 2020, and in KCS’ other filings with the U.S. Securities and Exchange Commission (“SEC”).
Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
No Offer or Solicitation
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information and Where to Find It
In connection with the proposed transaction, CN will file with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed transaction. The registration statement will include a preliminary proxy statement of KCS which, when finalized, will be sent to the stockholders of KCS seeking their approval of the merger-related proposals. This news release is not a substitute for the proxy statement or registration statement or other document CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transaction.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION STATEMENT(S), TENDER OFFER STATEMENT, PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTIONS. Any definitive proxy statement(s), registration statement or prospectus(es) and other documents filed by CN and KCS (if and when available) will be mailed to stockholders of CN and/or KCS, as applicable. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. Copies of the documents filed by KCS (if and when available) will also be made available free of charge at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’s Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
Participants
This news release is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN, KCS, and certain of their directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Information about KCS’ directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. Additional information regarding the interests of such potential participants will be included in one or more registration statements, proxy statements, tender offer statements or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and from www.sedar.com, as applicable.
Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
(514) 249-4735
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Longview Communications & Public Affairs
Martin Cej
(403) 512-5730
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United States
Brunswick Group
Jonathan Doorley / Rebecca Kral
(917) 459-0419 / (917) 818-9002
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Media: KCS
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
(816) 983-1372
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Joele Frank, Wilkinson Brimmer Katcher
Tim Lynch / Ed Trissel
(212) 355-4449
Investment Community: CN
Paul Butcher
Vice-President
Investor Relations
(514) 399-0052
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Investment Community: KCS
Ashley Thorne
Vice President
Investor Relations
(816) 983-1530
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
(212) 929-5748 / (212) 378-7071
Curtiss-Wright’s electromechanical actuation (EMA) technology helps reduce risk, speeds development of all-electric regional commuter aircraft
DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that it has successfully delivered the primary flight control actuators and control electronics to Eviation Aircraft for the all-electric Alice aircraft, as it prepares for first flight. Curtiss-Wright’s high-power density electromechanical actuators (EMA) provide Eviation with a modular, distributed solution that enables a flexible control architecture. Curtiss-Wright’s proven commercial-off-the-shelf (COTS) EMA design delivers a lightweight, plug-and-play solution that helps reduce cost, schedule risk, and program risk.
"We are very proud to have delivered the first shipset of our innovative flight control actuation hardware to Eviation, and are excited to witness the first flight of their all-electric Alice aircraft later this year,” said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation. “Curtiss-Wright is committed to being an industry leader in bringing the revolutionary advantages of electric actuation to flight, from fixed wing to rotorcraft, from business jets to military platforms.”
“Curtiss-Wright is known for its flight control technology innovation and we look forward to working with them as we build our high performing zero-emission electric aircraft," said Omer Bar-Yohay, Co-Founder & CEO, Eviation. "We are pleased to work with iconic partners who share our vision of making clean regional air travel accessible for all."
EMA technology delivers compelling benefits over traditional hydraulic approaches, such as superior reliability, improved energy efficiency and reduced weight for a wide range of aviation applications including flight controls, landing gear, and utility actuation.
Keeping innovation and performance top of mind, Eviation is creating a new era in aviation with the Alice aircraft. Inspired by the new design possibilities that emerged by replacing turbine engines with all electric motors, Eviation and its team have reimagined what sleek, stylish and cost effective air mobility can be with the introduction of Alice.
Curtiss-Wright designs and manufactures its electric actuation products at its Shelby, N.C. facility. For more information about Curtiss-Wright’s Actuation Division, please visit www.cw-actuation.com.
About Eviation Aircraft
Eviation Aircraft Ltd. is developing and manufacturing efficient electric aircraft to make electric aviation a competitive and sustainable alternative for the on-demand mobility of people and goods. Its distributed propulsion, high-energy-density batteries, mission-driven energy management, and innovative airframe are designed from the ground up for electric flight. Eviation operates in the U.S. and is a member of the General Aviation Manufacturers' Association (GAMA). Please visit us at www.eviation.co.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the Aerospace and Defense markets, and to the Commercial markets including Power, Process and General Industrial. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,200 people worldwide. For more information, visit www.curtisswright.com.
Note: Trademarks are property of their respective owners.
Jim Ryan
(704) 869-4621
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DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE:PXD) today announced that Rich Dealy, President and Chief Operating Officer, will participate in a fireside discussion at the RBC Capital Markets Global Energy Virtual Conference on Wednesday, June 9, 2021, at 9:20 a.m. ET.
The live presentation and the replay will be available to the public via webcast - click here. The replay will be available for 30 days after the event.
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.
Pioneer Natural Resources Contacts:
Investors-
Neal Shah – 972-969-3900
Tom Fitter – 972-969-1821
Michael McNamara – 972-969-3592
Greg Wright – 972-969-1770
Media and Public Affairs-
Tadd Owens – 972-969-5760
DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that Amy Schwetz, senior vice president and chief financial officer, will present at the Stifel 2021 Virtual Cross Sector Insight Conference on Tuesday, June 8 at 10:00 ET.
A webcast of Ms. Schwetz’s presentation will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
MILWAUKEE--(BUSINESS WIRE)--The Manitowoc Company, Inc. (NYSE: MTW) announced that President and Chief Executive Officer Aaron H. Ravenscroft and Executive Vice President and Chief Financial Officer David J. Antoniuk will present at the Stifel Cross Sector Insight Conference on Thursday, June 10, 2021.
The presentation is scheduled from 1:20 to 1:50 p.m. ET. A link to the live audio webcast of the presentation and presentation materials can be accessed from Manitowoc’s Investor Relations website ahead of the event at http://ir.manitowoc.com. The webcast will be available for replay at the same link.
About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. was founded in 1902 and has over a 118-year tradition of providing high-quality, customer-focused products and support services to its markets. Manitowoc is one of the world's leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, and supports comprehensive product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes and boom trucks under the Grove, Manitowoc, National Crane, Potain and Shuttlelift brand names.
Ion Warner
Vice President, Marketing and Investor Relations
+1 414-760-4805
Dr. Gregoriou Led the Tour of the Company’s State-Of-The-Art Facilities
Ambassador Pyatt Was Able to See the Company’s Products and Learn About its Success Story
BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today announced that Dr. Vasilis Gregoriou, Advent Chairman and CEO, welcomed the U.S. Ambassador to Greece, Geoffrey R. Pyatt, to the Company’s facilities at Patras Science Park. During the Ambassador’s visit there was a walking tour of the production areas of Advent Technologies SA at Patras Science Park. The productions areas are:
Furthermore, the Company is in the process of refurbishing two extra rooms/labs where R&D chemical synthesis and Scale Up will be taking place, for the new generation of materials/MEAs. These new areas will be ready this summer.
Dr. Gregoriou commented on the visit stating, “It was an honor to welcome Ambassador Pyatt to our facilities in Patras today. The visit gave us the opportunity to present the Advent business plan, our current product status and our flexible “Any Fuel. Anywhere.” option. We were also able to showcase our new generation of products that will allow the Company to enter other big markets such as Automotive, Aviation and Portable.”
Ambassador Pyatt stated, "Advent Technologies continues to be a great example of how partnerships between U.S. technology leaders and the Greek innovation ecosystem lead to cutting-edge solutions that address today’s global issues. Advent’s work reflects the entrepreneurial DNA that our countries share, as well as our governments’ shared commitment to a clean energy future. We look forward to working closely together in the months and years to come, aided by our new U.S.-Greece Science and Technology Agreement and Advent’s growing investments and presence in both countries.”
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, maritime, aviation and power generation sectors. www.advent.energy
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
Joe Germani / James Goldfarb
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EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, will hold its 2021 Annual Meeting of Shareholders in a virtual-only format beginning at 2:00pm Eastern Time on Thursday, June 17, 2021.
To attend and participate in the Annual Meeting, shareholders of record as of the close of business on April 5, 2021, will need to visit www.virtualshareholdermeeting.com/OLED2021 and log in using the 16-digit control number found on their proxy card, voting instruction form or notice of internet availability. Guests may attend the 2021 Annual Meeting in a listen-only mode. Online access and check-in will begin at 1:45pm Eastern Time on June 17th. Participants should allow plenty of time to log in prior to the start of the Annual Meeting. An archive of the meeting will be available for replay within 24 hours after its conclusion on the events page of the Company's Investor Relations website at ir.oled.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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Universal Display Contact:
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DUBLIN--(BUSINESS WIRE)--The "Global Maritime Freight Transport Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global maritime freight transport segment is expected to exhibit a growth of about 4% during the forecast period.
Companies Mentioned
Key Market Trends
Containerization evolving as a Trend
According to UNCTAD (United Nations Conference on Trade and Development), international maritime trade is driven in particular by growth in containerized, dry bulk and gas cargos. However, uncertainties like the geopolitical tensions and global pandemic like COVID-19 remain an overriding theme in the current maritime transport environment, with risks tilted to the downside. The long-term trend towards the containerization of general cargo is upward rising.
A large share of globalized containerized trade continued to be carried across the major East-West containerized trade arteries, namely Asia-Europe, the Trans-Pacific and the Transatlantic. Containerized and dry bulk trades are expected to grow at a compound annual growth rate of 4.5% and 3.9%, respectively, over the forecasting period.
Asia Pacific - the Fastest Growing Market
The Asia Pacific region consists of some of the fastest-growing economies in the world like China and India. This growth in the maritime transportation sector is supported by the trade exchanges by these countries of which, the majority of international trade takes place via sea routes. The central role of Asia in global trade and shipping is also highlighted by trends in global container port-handling activities.
Asian countries are experiencing a large increase in intra-regional trade mostly based on manufacturing trades and reflecting fragmented production processes where parts are generally manufactured in multiple locations across Asia and assembled in another location. This is also expected to increase trade, supported by marine transportation. Demand growth originated mostly in Asia, bolstered by ongoing energy policy shifts and rising export capacity in Australia and the United States.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Value Chain/Supply Chain Analysis
4.4 Technological Advancements
4.5 Government Regulations and Key Initiatives
4.6 Insights of Transshipment Trade
4.7 Insights on Containerized and Non-Containerized Shipments
4.8 Freight rates and Maritime Transport Costs
4.9 Insights on Intermodal/Container Utilization
4.10 Demand-supply Analysis
4.11 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Geography
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
7 FUTURE OF GLOBAL MARINE FREIGHT TRANSPORT MARKET
8 APPENDIX
For more information about this report visit https://www.researchandmarkets.com/r/hn4kdq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Transit managers and government officials will be able to look under the hood, kick the tires, drive ElDorado National California®’s 40-foot hydrogen fuel cell-powered bus, and review real-world performance data on range, reliability, affordability, and safety.
RIVERSIDE, Calif.--(BUSINESS WIRE)--After being sidelined by the COVID-19 pandemic, the Stark Area Regional Transit Authority’s (SARTA) award-winning Borrow a Bus (BaB) Zero-Emissions Tour resumes on Thursday, June 4, 2021, when one of the transit authority’s state-of-the-art hydrogen fuel cell-powered (HFC) buses begins a week-long eight-stop swing through the state of California.
The Borrow a Bus program is supported by ElDorado National California (ENC®), the industry leader in rightsized heavy-duty transit buses. The hydrogen fueled ENC AXESS FC® never needs gas and only water is emitted from the tailpipe. It is also the only hydrogen bus in the industry that is federally certified for 3-point seat belts. The company, which built the SARTA bus being used on the BaB tour, will provide free technical support and fuel for the vehicle during the California swing. The tour is also being underwritten by Creative Bus Sales, BAE Systems which manufactures the vehicle’s propulsion system, and Ballard Power Systems the firm that produces the bus’s hydrogen fuel cell.
SARTA CEO Kirt Conrad, who manages one of the nation’s largest fleets of HFC transit vehicles created Borrow a Bus to raise awareness about and generate support for the innovative zero-emission technology. “Most Americans, including policy-makers and the media, don’t know what fuel cells are or how they work,” Mr. Conrad said. “Giving people across the country the opportunity to see, learn about, and operate a hydrogen fuel cell bus on their roads and highways is the most effective way to demonstrate that HFCs have the potential to totally transform the way vehicles are powered in the U.S. and around the world.”
Along with looking under the hood and kicking the tires, transit managers will be able to review hundreds of thousands of miles worth of real-world data SARTA has collected while operating HFC buses on the streets of Stark County in every weather condition imaginable over the past ten years.
“That data provides clear and convincing evidence that HFC buses deliver much greater range than battery electrics, are both more reliable and affordable to operate, remove tons of pollutants from the air, and, perhaps most importantly from an operational standpoint, take only minutes to refuel,” he continued. “All of which leads to the obvious conclusion that hydrogen is the best alternative fuel solution available in the transportation space,” Mr. Conrad said.
"Borrow a Bus ensures that fuel cells will be a prominent part of the renewable energy conversation as the drive to electrify transportation in the U.S. and the world gains momentum,” Mr. Conrad said. “To date, that conversation has been dominated by the plug-in electric sector. But as more and more people get a close-up look at HFCs and begin comparing performance data, hydrogen is gaining traction because the vehicles offer the efficiency, range, operational capabilities, and rider experience transit professionals are seeking as they strive to achieve their zero-emission goals.”
The week-long BaB California tour includes these stops:
Friday, June 4
10:00 A.M.: Victor Valley Transit Authority, 17150 Smoke Tree St. Hesperia, California
Monday, June 7
10:00 A.M.: San Joaquin Regional Transit District, 421 East Weber Avenue, Stockton, CA
2:00 P.M.: Modesto Regional Transit District at Storer Transportation, 3519 McDonald Ave., Modesto, CA
Tuesday, June 8
10:00 A.M.: SamTrans, 301 North Access Road, South San Francisco, CA
2:00 P.M.: Central Contra Costa Transit, 2477 Arnold Industrial Way, Concord, CA
Wednesday, June 9
9:00 A.M.: Sacramento Regional Transit District, 1400 29th St., Sacramento, CA
2:00 P.M.: Yuba Sutter Transit, 2100 B Street, Marysville, CA
Thursday June 10
10:00 A.M.—3:30 P.M. Redding Area Bus Authority, 3333 S. Market Street, Redding, CA
Media interview opportunities will be provided during the tour. To schedule an interview please contact Timothy Montgomery at 330-477-2782 x570 or email This email address is being protected from spambots. You need JavaScript enabled to view it.
Since making its first trip to the Central Midlands Transit Authority in Columbia, South Carolina in 2019, the BaB tour has visited Washington, D.C., Alexandria, VA., Chicago, Il, Portland, OR, Seattle, WA, Tampa, Fort Lauderdale, and Orlando, Fl, Lansing, MI, and New Brunswick, NJ. Along with garnering extensive media coverage at each tour stop, the unique and highly popular promotion earned Calstart’s prestigious Blue Sky Award in 2020.
Canton, Ohio-based SARTA provides a compelling chapter in the fuel cell story. The relatively small public transit agency operates one the largest fleets of hydrogen fuel cell-powered transit vehicles in the U.S. and the world. “What began as an effort to achieve our goal of operating an emissions-free transit system has evolved into a multi-faceted campaign to revolutionize private, commercial, and public transportation in the U.S. and across the world,” Mr. Conrad said. “Education is a key component of that campaign and Borrow a Bus is a great educational tool.”
About the stark area regional transit authority (SARTA)
SARTA is an international leader in the development and deployment of zero emission technology in the transportation space. The Canton, Ohio-based transit system which owns and operates one of the largest fleets of hydrogen fuel cell-powered buses in the Western Hemisphere has received Calstart’s prestigious Blue Sky Award and numerous other honors for its commitment to innovation, sustainability, and renewable energy. To learn more about SARTA’s hydrogen fuel cell program visit https://www.sartaonline.com/hydrogen-fuel-cell
About ElDorado National California
ElDorado National California (ENC®), a subsidiary of REV Group, has manufactured low floor and standard floor buses for over 45 years to public transit/paratransit, airport, parking and university transportation markets. ENC is best known in the industry for its customizable options including thousands of floorplan configurations, as well as ensuring unparalleled manufacturing and safety standards. All ENC models pass a comprehensive battery of durability and crash tests. ENC manufactures the greenest buses in the industry including the Zero Emissions, hydrogen-powered Axess-Fuel Cell as well as the 100% battery electric Axess. All buses are crafted in the state-of-the-art 227,000 square-foot, ISO 9001 certified production facility in Riverside, California.
About Creative Bus Sales
Creative Bus Sales has been the nation’s largest bus dealer since 1980. The Company is headquartered in Chino, CA and has 17 locations nationwide. Creative Bus Sales represents over 20 top manufacturers and an extensive portfolio of industry-leading vehicles serving the transit and retail markets. With a dedicated nationwide network of Parts, Service, Warranty, and Customer Care Teams, as well as in-house financing, the Company continues to provide superior solutions that meet the ever-changing needs of our marketplace.
About Ballard Power Systems
Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, passenger cars and forklift trucks. To learn more about Ballard, please visit www.ballard.com.
Kirt Conrad 330-47-SARTA x 522 or Timothy Montgomery 330-477-2782 x570
HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Incorporated (“Emera” or the “Company”) (TSX: EMA) announced today that Emera US Finance LP (the “Issuer”), a limited partnership wholly owned indirectly by Emera, has completed the sale of US$750,000,000 aggregate principal amount of United States dollar denominated senior, unsecured notes (the “U.S. Notes”), fully and unconditionally guaranteed by Emera and Emera US Holdings Inc., (“EUSHI and together with Emera, the “Guarantors”) a directly and indirectly wholly-owned subsidiary of Emera. J.P. Morgan Securities LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC acted as joint book-running managers in connection with the U.S. Notes offering BMO Capital Markets Corp., BofA Securities, Inc., CIBC World Markets Corp., TD Securities (USA) LLC, Truist Securities, Inc., Loop Capital Markets LLC and Samuel A. Ramirez & Company, Inc. acted as co-managers. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the U.S. Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering of the U.S. Notes and the related guarantees has not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws and the U.S. Notes and the related guarantees may not be offered or sold in the United States absent a registration under the Securities Act or an applicable exemption from registration requirements. The U.S. Notes are being sold only to “qualified institutional buyers” under Rule 144A of the Securities Act and to non-U.S. persons under Regulation S of the Securities Act. This press release is not an offer of securities for sale in the United States. The U.S. Notes have not been qualified by prospectus for public distribution under the securities laws of any province or territory of Canada. The U.S. Notes are not being, and may not be offered or sold, directly or indirectly, in Canada or to any resident of Canada except under exemptions from prospectus requirements of those securities laws, and either by an appropriately registered dealer or in circumstances where a dealer registration is not required. Until such time as the U.S. Notes are registered, they will be subject to certain restrictions on resale under the Securities Act.
The U.S. Notes will not be listed on any securities exchange, and the Issuer and the Guarantors do not intend to arrange for the U.S. Notes to be included on any quotation system.
Use of Proceeds
Emera intends to use the net proceeds from any offering of U.S. Notes to finance the repayment of the US$750 million 2.700% 2016 exchange notes which mature on June 15, 2021 (the “2016 Notes”). If certain of the net proceeds from the offering of U.S. Notes are not otherwise required to repay the 2016 Notes, Emera intends to use such net proceeds for general corporate purposes.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws with respect to, among other things, the intended use of the net proceeds from the sale of the U.S. Notes, and the entering into of a registration rights agreement in connection with the offering of U.S. Notes. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Business Risks and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR at www.sedar.com.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H and EMA.PR.J. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Source: Emera Inc.
Emera Inc.
Investor Relations
Dave Bezanson, VP, Investor Relations & Pensions
902-474-2126
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902-428-6760
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In June, Events are Scheduled for Customers in Colusa, Glenn, Placer, Yuba, Lake, Napa, Marin and Sonoma Counties
SAN FRANCISCO--(BUSINESS WIRE)--Weekly regional wildfire safety webinars will be taking place every Thursday in June, providing our customers with an opportunity to better understand the wildfire prevention plans and progress that has been made in 2021 and to share their feedback.
Pacific Gas and Electric Company (PG&E) hosts these webinars as part of our commitment to the safety of customers and the communities we serve, as the company works year-round to make its system safer and more resilient and improve Public Safety Power Shutoff (PSPS) events.
During the events, the PG&E team will discuss:
Each event will feature a brief presentation, after which participants will have the opportunity to ask questions and provide feedback to PG&E representatives.
The Thursday webinar events take place each week from 6 p.m. to 7:30 p.m. and will continue through the summer. The following webinars are planned for June:
Although the webinar events will focus on regional work in the listed counties, all PG&E customers are welcome to join. Closed captioning will be available in English, Spanish and Chinese and a dial-in number is available for those who aren’t able to join online.
For information on how to participate, the full webinar events schedule, recordings and presentation materials from past events, and to learn more about PG&E’s Community Wildfire Safety Program, visit pge.com/wildfiresafety.
More information and resources to help you and your family prepare for and stay safe in the event of an emergency can be found at safetyactioncenter.pge.com.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
SAN FRANCISCO--(BUSINESS WIRE)--Scepter is an AI and data analytics company that was founded in 2016 to provide global-to-local, real-time monitoring and analysis of atmospherics by capturing gas and particulate data throughout the entire vertical air column. Scepter's patented approach integrates existing ground-based sensor networks with its own space-based, state-of-the-art hyperspectral sensors to provide a unique 3D view of the atmosphere, a perspective not provided by anyone today.
Scepter is able to distill complex atmospheric ecosystems into robust big data sets that, when fused with other relevant data such as health, wind, weather and consumer records, can provide comprehensive situational awareness for commercial and government customers.
“We’re starting our mission with a focus on both aerosol and methane detection, launching with an information service offering to the oil & gas industry,” states Philip Father, Scepter founder and CEO. “When governments, NGOs and companies can see and quantify what’s moving around in the atmosphere in real time, they will know how they contribute to air quality, self-assess and act in accordance with ESG principles.”
“Scepter’s information helps commercial operators manage their business better, going beyond detection and quantification. This leads to opportunities across multiple industry verticals and working with government agencies in areas like wildfire management where Scepter can deliver a holistic solution,” said Peter Luchetti, Managing Partner of Table Rock Infrastructure Partners.
“We’re excited to participate in Scepter’s big data platform. Using best-in-class sensors, AI and data analytics, companies will be able to transform their business and provide customers with unique insights to lower costs and increase revenues as well as leverage actionable data to drive environmental initiatives,” said John Tilney, Partner at L37 Ventures. “The Scepter platform will have immediate scale and impact in partnership with a Fortune 10 energy firm.”
About Scepter, Inc.: Scepter is an AI and atmospheric data analytics company that has developed and patented a groundbreaking approach to monitoring and impacting air quality in real-time using an array of terrestrial, airborne and Low-Earth-Orbit satellite-based sensors to measure the vertical air column. Scepter provides global-to-local, real-time air pollution data, integrated with data from other sources and analyzed to provide actionable information for businesses, consumers, governments and NGOs. For more information, please visit www.scepterair.com.
About L37 Ventures: L37 is a new generation, hybrid venture capital and private equity company. We invest in visionary founders and companies that are transforming industries and solving ubiquitous problems. We are a group of seasoned entrepreneurs, operators and investors who work alongside founding teams, leveraging frameworks for scale and our network of trusted relationships with customers, capital, and talent to design new categories and engineer market-first, globally minded companies. For more information, visit www.L37.vc.
About Table Rock Infrastructure Partners: Table Rock is a private equity firm focused on water, wastewater, renewable energy and communications applications. Our “Progressive Partnership” process evaluates all options for municipal project design, construction, operations and maintenance, financing and delivery, and helps leadership determine which implementation approach produces the highest value for ratepayers. For more information, visit www.tablerockpartners.com.
Steve Smith
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HAMILTON, Bermuda--(BUSINESS WIRE)--June 3, 2021 – Triton International Limited (NYSE:TRTN) today announced that Brian Sondey, Chairman and Chief Executive Officer, will participate in a fireside chat at the UBS Global Industrials and Transportation Virtual Conference on Wednesday, June 9, 2021 at 4:00 p.m. Eastern Time. A live webcast of the presentation and an archived replay will be available to the public on the Investors section of Triton’s website at www.trtn.com.
About Triton International Limited
Triton International Limited is the world’s largest lessor of intermodal freight containers. With a container fleet of 6.5 million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Andrew Greenberg
Senior Vice President
Business Development & Investor Relations
914-697-2900
DUBLIN--(BUSINESS WIRE)--The "Global Amphibious Aircraft Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the amphibious aircraft market and it is poised to grow by $40.78 million during 2021-2025 progressing at a CAGR of 3% during the forecast period.
The report on amphibious aircraft market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing concerns in maritime security, augmented role in firefighting and rise in indigenous manufacturing capabilities of nations.
The amphibious aircraft market analysis includes application segment and geographical landscapes. This study identifies the use of advanced techniques for aircraft construction as one of the prime reasons driving the amphibious aircraft market growth during the next few years. Also, avionics advancements in general aviation and increased use of electrical systems in modern aircraft will lead to sizable demand in the market
Companies Mentioned
The report on amphibious aircraft market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/jeuq8d.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by GoodLeap Sustainable Home Solutions Trust 2021-3 (“GOOD 2021-3”), an asset-backed securitization collateralized by a pool of consumer solar loans and home improvement loans.
The collateral pool consists of approximately $417.39 million Solar Loans and Home Efficiency Loans. As of the May 6, 2021 Statistical Cut-Off Date (“Statistical Cut-Off Date”), Solar Loans and Home Efficiency Loans make up 99.71% and 0.29% of the collateral pool, respectively. The preliminary ratings reflect the initial credit enhancement levels ranging from 25.09% for the Class A Notes to 11.08% for the Class C Notes.
GoodLeap, LLC (formally known as Loanpal, LLC) (“GoodLeap” or the “Company”) was incorporated in California in 2003 to provide residential mortgage loans. In December 2017, GoodLeap launched its current solar loan origination platform where it originates loans to mostly prime credit quality homeowners for the purpose of purchasing home improvements, including solar panel systems and batteries. In 2021, GoodLeap expanded its product offering to include Home Efficiency Loans.
KBRA applied its General Global Rating Methodology for Asset-Backed Securities, Consumer Loan ABS Global Rating Methodology and Global Structured Finance Counterparty Methodology. In applying the methodologies, KBRA analyzed GoodLeap’s portfolio pool data, underlying collateral pool and proposed capital structure under stressed cash flow assumptions. KBRA considered its operational review of GoodLeap, which was conducted in November 2018 as well as periodic calls with the Company. Operative agreements and legal opinions will be reviewed prior to closing.
Click here to view the report. To access ratings and relevant documents, click here.
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Disclosures
Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
About KBRA
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
Analytical Contacts
William Carson, Senior Director (Lead Analyst)
+1 (646) 731-2405
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Michael Polvere, Associate
+1 (646) 731-3339
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Eric Neglia, Senior Managing Director (Rating Committee Chair)
+1 (646) 731-2456
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Business Development Contact
Ted Burbage, Managing Director
+1 (646) 731-3325
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DUBLIN--(BUSINESS WIRE)--The "Propene-3-d1 (CAS 1117-89-1) Global Market Research Report 2021" report has been added to ResearchAndMarkets.com's offering.
This global report is a result of industry experts' diligent work on researching the world market of Propene-3-d1. The report helps to build up a clear view of the market trends and development, identify major players in the industry, and estimate main downstream sectors.
The Propene-3-d1 global market report key points:
The first chapter introduces the product (composition, structure, hazards, storage, toxicological & ecological information, etc.). The second chapter focuses on Propene-3-d1 end-uses. The third chapter summarizes data about manufacturing methods. The fourth chapter is about the related patents. The fifth chapter deals with Propene-3-d1 market trends and forecast, distinguish Propene-3-d1 manufacturers and suppliers. The sixth chapter provides Propene-3-d1 prices data. The seventh chapter analyses Propene-3-d1 downstream markets.
Key Topics Covered:
1. PROPENE-3-D1 GENERAL INFORMATION
1.1. General information, synonyms
1.2. Composition, chemical structure
1.3. Safety information
1.4. Hazards identification
1.5. Handling and storage
1.6. Toxicological & ecological information
1.7. Transport information
2. PROPENE-3-D1 APPLICATIONS
3. PROPENE-3-D1 MANUFACTURING METHODS
4. PROPENE-3-D1 PATENTS
5. PROPENE-3-D1 MARKET WORLDWIDE
5.1. Global Propene-3-d1 market analysis: market constraints, drivers and opportunities
5.2. Manufacturers of Propene-3-d1
5.3. Suppliers of Propene-3-d1
5.4. Market forecast
6. PROPENE-3-D1 MARKET PRICES
7. PROPENE-3-D1 END-USE SECTOR
For more information about this report visit https://www.researchandmarkets.com/r/xnrbaw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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- Exchange to significantly further reduce the Company’s secured debt and net leverage
- Company has reduced total secured debt by over $347 million in 2021
- Strongly positions Company to grow in all segments, including recently launched ClimateBrightTM technologies
AKRON, Ohio--(BUSINESS WIRE)--$BW--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on June 1, 2021 it entered into an agreement (the “Exchange Agreement”) with B. Riley Financial, Inc. (together with its affiliates, “B. Riley”) pursuant to which the Company (i) issued B. Riley 2,916,880 shares of the Company’s 7.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and with a liquidation preference of $25.00 per share (the “Preferred Stock”), representing an exchange price of $25.00 per share plus accrued and unpaid dividends from May 7, 2021, and (ii) paid $850,171 in cash to B. Riley for accrued interest due, in exchange for a deemed prepayment of $73,330,152 of the Company’s existing term loans with B. Riley under the Company’s Amended and Restated Credit Agreement (the “Exchange”).
“B&W is gaining momentum as we continue our growth strategy. We have reduced our secured debt by $347 million, significantly improving and strengthening our balance sheet, which is important to our customers, our employees and our shareholders,” said B&W Chairman and Chief Executive Officer Kenneth Young. “Our balance sheet is now a strength for us as we aggressively compete across all our business segments, including investing in our ClimateBrightTM decarbonization technologies and potential acquisitions.”
“We continue to see new opportunities globally for both organic and inorganic growth of our renewable and environmental technologies, including waste-to-energy, hydrogen production and carbon capture technologies, as well as opportunities within the thermal services sector with the potential to achieve immediate synergies and higher margins,” Young said. “We are focused on leveraging the strength of our experienced management team, improved balance sheet and robust pipeline to increase shareholder value while driving a worldwide industrial transformation to a green environmental future.”
The shares of Preferred Stock issued to B. Riley in the Exchange were offered pursuant to the exemption from registration under the Securities Act in Rule 506 of Regulation D under Section 4(a)(2) thereof.
The Preferred Stock trades on the NYSE under the symbol “BW PRA”.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the Company's private and public offerings of Preferred Stock and intended use of net proceeds and opportunities for future growth of renewable and environmental technologies. Factors that could cause such actual results to differ materially from those contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 8, 2021, under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable) and the prospectus supplement related to the offering of the Preferred Stock. These factors should be considered carefully, and the Company cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About Babcock & Wilcox Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox Enterprises
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox Enterprises
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Bid submission, contract negotiation, delivery, installation, and commissioning completed in time to meet summer peak demand
GLASTONBURY, Conn.--(BUSINESS WIRE)--Mitsubishi Power Aero LLC, a leading provider of global power solutions, and Mitsubishi Power de Mexico, both subsidiaries of Mitsubishi Power Americas, Inc., executed a fast-track, turnkey contract to install and commission five 30-megawatt FT8® MOBILEPAC® aero-derivative, dual-fuel gas turbines for CFEnergia SA de CV (CFEN), a subsidiary of Mexico’s Federal Electricity Commission (CFE). The project, located in Mexicali, Baja California, delivers critical power in time for peak season. A sixth gas turbine will be added later to expand capacity and support next summer’s requirements.
Mitsubishi Power Aero has extensive experience helping customers solve their most urgent power generation needs by providing mobile generation equipment combined with in-house EPC expertise; the FT8 MOBILEPAC gas turbine package is ideally suited for rapid deployment to meet emergency power requirements. The additional power from these units offers peace of mind and energy security to the people and industries in Mexicali. Additionally, as Mexico works toward integrating intermittent renewable energy generation, these gas turbines will play an important role in supplying flexible, reliable, and mobile energy to bolster grid reliability and resilience.
“Although Mexicali has sufficient capacity to meet the region’s power requirements most of the year, there is a shortfall during peak season causing hardship for all who rely on a steady supply of electricity,” said Mitsubishi Power Aero Vice President of Sales and Business Development Harsh Shah. “The mobile generation units that Mitsubishi Power Aero installed will maintain dispatch security, reliability, quality, and continuity in the Baja Electric System. The MOBILEPAC unit’s reliable black start capability affords the ultimate safety net of on-demand power when the need arises.”
Mitsubishi Power Aero President and CEO Raul Pereda noted, “We are pleased that we were able to deliver critical power for CFEnergia on such a tight timeline. The FT8® MOBILEPAC® units are essential assets for Mexico. A compact footprint, minimal site prep, and no permanent foundations give CFE the flexibility to relocate them to other locations to support demand. With the addition of the MOBILEPAC units, CFE operates one of the largest FT8 fleets in the world, an expansion spurred by reliable operational performance and Mitsubishi Power Aero’s strong aftermarket service and support. We deliver power when the world needs it most.”
About Mitsubishi Power Aero LLC
Mitsubishi Power Aero LLC, headquartered in Glastonbury, Connecticut, USA, is a leader in the supply of fast-track, on-demand power solutions to global power producers and industrial and O&G customers. We provide flexible and customizable products and services, including aero-derivative gas turbine packages that generate 30 to 140 MW, tailored and responsive aftermarket services, turnkey EPC expertise, and battery storage. As the demand for electricity expands, and more renewables are added to power grids, Mitsubishi Power Aero will continue to play a vital role in providing energy security to customers around the world. Mitsubishi Power Aero is a group company of Mitsubishi Power Americas, Inc. Connect with us at aero.power.mhi.com and LinkedIn.
Stefan Zavatone, Vice President, Marketing, Communications, and Commercial Operations at Mitsubishi Power Aero
860-368-5499
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PLANO, Texas--(BUSINESS WIRE)--Vine Energy Inc. (NYSE: VEI) announced today that Eric Marsh, Chairman, President and Chief Executive Officer, and Wayne Stoltenberg, EVP, Chief Financial Officer, will participate in a fireside chat at the RBC Capital Markets Global Energy, Power and Infrastructure Conference on Tuesday, June 8, 2021 at 1:20pm ET.
The event will be broadcast live via webcast. A link to the webcast is accessible from the Investor Relations page of the company’s website located at https://www.vineenergy.com/investors/events-and-presentations.
About Vine Energy Inc.
Vine Energy Inc., based in Plano, Texas, is an energy company focused exclusively on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The company employs a relentless focus on generating free cash flow and shareholder returns while demonstrating environmental, social and governance leadership. For more information, visit our website at www.VineEnergy.com.
David Erdman
(469) 605-2480
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