Industry News

Mint, New Delhi, P. Manoj column [Mint, New Delhi]
Religare Enterprises Ltd, plans to raise Rs650 crore through a sale of stock to existing shareholders to boost its capital adequacy ratio, two people close to the development said. The so-called rights issue comes against the backdrop of the company writing off its large exposure to ABG Shipyard Ltd. The exposure is estimated at Rs180 crore. Religare Finvest has a capital adequacy ratio of below 10%."/>
Religare Finvest plans to raise Rs650 crore through rights issue [Mint, New Delhi]
InterGlobe Aviation Ltd, has started inducting updated Airbus A320neo planes into its fleet and, according to one analyst, could potentially raise its market share to as much as 50% by next year. IndiGo, which in 2011 became the first airline to order 430 of these fuel-efficient planes, has faced delivery delays as Pratt and Whitney Co. Inc., the maker of its engines, coped with engine startup issues and software glitches."/>
IndiGo adds new A320neos to fleet in market share push [Mint, New Delhi]
United Breweries Ltd chairman Vijay Mallya, at the centre of a money laundering probe, told shareholders on Thursday he was confident that charges against him will be dropped, hours after the company posted an over-13-fold rise in net profit. Net profit at United Breweries, India's largest brewer, rose to Rs.29.47 crore in the June quarter from Rs.2.16 crore in the same period a year ago, a BSE filing showed. The embattled business tycoon told the annual general..."/>
Vijay Mallya confident of judicial relief in pending cases [Mint, New Delhi]
M and A Navigator: Deal pipeline 30 September
Alterra International has the 13- story downtown St. Louis building under contract, said he plans to complete the purchase in December."/>
Jefferson Arms project could begin in January [St. Louis Post-Dispatch]
Erickson Incorporated, a leading global provider of aviation services, has a long-term helicopter support contract with Chugach Electric Association, which has been extended for two additional years as permitted in the original contract award. The extension will retain Erickson through December 31, 2018. The assigned mission will be to fly essential crew and contractors into remote locations, conduct powerline patrols, mountaintop microwave..."/>
Alaska residents continue to rely on Chugach Electric, and Chugach relies on Erickson for Helicopter Support
SolarCity's cash crunch continues to ease. The solar energy systems installer plans to raise $347 million to fund solar installations at homes and small businesses through a pair of funds arranged through Citigroup. The financing, coupled with a $305 million cash equity funding deal earlier this months, will give SolarCity more than $650 million in new financing to pay for its solar installations, many of which are sold using SolarCity's no-upfront cost sales model."/>
Citigroup, SolarCity reach deal to cover upfront installation costs for systems [The Buffalo News, N.Y.]
Vectrus, Inc. announced today the government did not select the company's contract proposal to provide comprehensive support services for all U.S. Vectrus is the incumbent contractor providing these services, under the Kuwait Base Operations& Security Support Services contract which currently runs through Dec. 28, 2016.. K-BOSSS, the largest contract in the Vectrus portfolio, has contributed $218 million in revenue through..."/>
Vectrus statement on Army award of Kuwait Base Operations and Security Support Services 2.0 Award
AECOM, a premier, fully-integrated global infrastructure firm, announced today that Mark Whitney, experienced veteran of the nuclear energy and environmental industries, has been appointed chief operating officer of AECOM's nuclear& environment strategic business unit. Following an 11- year career with the Department of Energy, Mr. Whitney joins AECOM having most recently served as the principle deputy assistant secretary for the..."/>
Mark Whitney is appointed chief operating officer of AECOM's nuclear & environment strategic business unit
Engility Holdings, Inc., will be unveiling several innovations to support Army modernization at the 2016 Association of the United States Army Annual Meeting and Exposition in Washington, D.C., Oct. 3-5, showcasing advanced capabilities in robotics, mobile training applications and soldier wellness..."/>
Emerging Technologies for Evolving Missions: Engility Showcases Full Life Cycle of Innovation at AUSA 2016
Austal Inc. and partners including other maritime companies, the Alabama Department of Labor, the Alabama Career Center System and Bishop State Community College. It will take place from 9 a.m. to 1 p.m."/>
Austal, other companies plan maritime job fair Tuesday [Alabama Media Group, Birmingham]
Huntington Ingalls Industries announced today that its Newport News Shipbuilding division was awarded a multiple-award indefinite delivery, indefinite quantity contract to assist with repairs on in-service, nuclear-powered submarines, special mission submersibles, moored training ships and submarine support facilities.. A multiple-award indefinite delivery, indefinite quantity contract is a base contract that is issued to multiple..."/>
Huntington Ingalls Industries Awarded Navy Contract for Submarine Repair Work
Huntington Ingalls Industries announced today that its Newport News Shipbuilding division has been awarded a $17.7 million contract to perform planning work in support of maintenance and modernization efforts on the submarine USS Helena.. Planning efforts will include design studies, risk assessments, engineering, material procurement and pre-fabrication, logistics, ship checks and planning documentation. Work will begin immediately and..."/>
PHOTO RELEASE--Huntington Ingalls Industries Awarded Planning Contract for USS Helena (SSN 725) Maintenance
IBI Group Inc. today announced that the Company has sent a notice to CIBC Mellon Trust Company, as trustee under the trust indenture dated as of September 30, 2009 between the Company and CIBC Mellon Trust Company, that IBI will redeem the entire aggregate principal amount of $31,245,000 of its outstanding 7.0% convertible unsecured subordinated debentures due June 30, 2019 and having a conversion price of $5.00 per common share, which are listed for..."/>
IBI Group Inc. Announces Redemption of 7.0% Convertible Unsecured Subordinated Debentures Due June 30, 2019 and Having a Conversion Price of $5.00 Per Common Share
ARC Group Worldwide, Inc., a leading global provider of advanced manufacturing and 3 D printing solutions, announced today the closing of a new $42.5 million Senior Credit Agreement with Citizens Bank, N.A. Proceeds from the financing will be used to support the continued expansion of ARC's core precision manufacturing and metal 3 D printing businesses, along with repaying all amounts outstanding under the prior senior credit facility totaling $30.4..."/>
ARC Group Worldwide Announces New Senior Credit Facility

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