Industry News

Welspun Enterprises Ltd on Tuesday became the first company to achieve financial closure under the hybrid annuity model for highway construction in which the government will share 40% of the project cost. The company has managed funding of around Rs.400 crore from a consortium of banks including Punjab National Bank, State Bank of Hyderabad and Union Bank of India where PNB is lending Rs.200 crore and the rest are giving loans of Rs.100 crore each."/>
BRIEF: Welspun achieves financial closure under hybrid annuity model for highway work [Mint, New Delhi]
Taiga Building Products Ltd. announces that it has received a notice of reassessment from the Canada Revenue Agency relating to the Company's 2005 to 2013 taxation years. The notice of reassessment for the Relevant Taxation Years is consistent with the previously disclosed proposal received by Taiga, which was received in 2015. In issuing the reassessment in the amount of $41 million, the CRA is seeking to increase withholding taxes paid by Taiga..."/>
Taiga Building products provides update on tax reassessment
M and A Navigator: Deal pipeline –13 September
Mitsubishi Corporation and Mitsubishi Electric Corporation have set up a new elevator plant in India at MELCO subsidiary Mitsubishi Elevator India Private Limited. The new plant will start manufacturing elevators for the Indian market on September 15, 2016 and will mainly produce the "NEXIEZ-LITE" model, which is a key component of IMEC's strategy of targeting low- and mid-rise buildings in India. With demand reaching 48,000 units for newly constructed..."/>
Mitsubishi Corporation Announces Start of Operations at New Elevator Plant in India
SiteOne Landscape Supply, Inc. has acquired Richmond, Virginia-based landscaping nursery products distributor Glen Allen Nursery, the company said. The acquisition of Glen Allen provides SiteOne with its first nursery presence in the Richmond area. SiteOne Landscape Supply is a national wholesale distributor of landscape supplies in the United States and has a growing presence in Canada."/>
SiteOne Landscape Supply Acquires Virginia Distributor Glen Allen Nursery
Honeywell Aerospace was awarded an $18.3 million, three-year contract to manufacture aircraft brakes for the Navy. The Navy contract, announced by the U.S. Department of Defense, calls for the South Bend plant to manufacture brakes for the F/A-18, a fighter and attack aircraft."/>
Honeywell in South Bend nets $18.3 million Navy contract [South Bend Tribune, Ind.]
Metaldyne Performance Group Inc., a leading provider of highly engineered components for use in powertrain and suspension applications for the global light, commercial and industrial vehicle markets, announced the planned closure of the Wisconsin-based Brillion Iron Works, which was recently acquired from Accuride Corporation. The Brillion foundry will cease molding and melt operations in the fourth quarter of 2016."/>
MPG Announces Closure of Brillion Iron Works Foundry as Part of Optimization Strategy
BluMetric Environmental Inc. is pleased to announce the completion of agreements providing the Company with new credit and loan arrangements, as described below. BluMetric has finalized an agreement with the Bank of Montreal for a secured operating line of credit in the amount of $2,500,000. This replaces the Company's previous line of credit with another Canadian bank. The new bank facility is also supported by Export Development Canada by way of..."/>
BluMetric Announces New Credit and Loan Arrangements and Repayment of Convertible Debentures
Jason Industries, Inc. today announced that its Board of Directors authorized the adoption of a stockholder rights agreement with an eighteen month term. The main purpose of the Rights Agreement is to protect the Company’ s credit agreement from default which could occur if a person or group acquired a significant ownership of the Company’ s outstanding common stock triggering a change in control. A change in control under the credit agreement occurs..."/>
Jason Industries Adopts Stockholder Rights Agreement
Rockwell Automation Acquires Automation Control Products to Deliver Simple and Secure Centralized Visualization and Mobility Solutions. ROCKWELL AUTOMATION ACQUIRES AUTOMATION CONTROL PRODUCTS TO DELIVER SIMPLE AND SECURE CENTRALIZED VISUALIZATION AND MOBILITY SOLUTIONS. Rockwell Automation today acquired Automation Control Products, a leading provider in centralized thin client, remote desktop and server..."/>
CORRECTING and REPLACING Rockwell Automation Acquires Automation Control Products to Deliver Simple and Secure Centralized Visualization and Mobility Solutions
Sun Hydraulics Corporation has announced a $0.09 per share cash dividend on its common stock. The dividend is payable on October 15, 2016, to shareholders of record as of September 30, 2016.. Sun Hydraulics advises all shareholders to familiarize themselves with rules regarding dividends, payment dates and ex-dividend dates."/>
Sun Hydraulics Corporation Declares 3rd Quarter Cash Dividend of $0.09
FLY Leasing Limited, a global leader in aircraft leasing, today announced that its Chief Executive Officer, Colm Barrington, is scheduled to present at the Morgan Stanley Laguna Conference on Wednesday, September 14, 2016 at 2:30 pm PT. A live webcast of the presentation will be available on the Events page in the Investor Relations section of FLY's website at: http://www.flyleasing.com/investor-relations/events/. An archived replay of the..."/>
FLY Leasing to Present at the Morgan Stanley Laguna Conference on September 14, 2016
Ocean Power Technologies, Inc. today announced financial results for its Fiscal 2017 first quarter ended July 31, 2016.. George H. Kirby, President and Chief Executive Officer of OPT, stated, "The first quarter of fiscal 2017 has been a very eventful quarter for us on the technical, commercial and financial fronts. In June, we redeployed the PB3-A1 PowerBuoy off the coast of New Jersey, which included payloads from the National Data Buoy Center and the..."/>
Ocean Power Technologies Announces Results for the Fiscal First Quarter Ended July 31, 2016
BWX Technologies, Inc. announced today that James M. Jaska, Kenneth J. Krieg and Barbara A. Niland have been appointed to its Board of Directors to further the Board’ s ongoing succession planning and refreshment efforts. Each of these new directors brings valuable industry experience and other qualifications that will support BWXT’ s sustainable long-term growth and stability objectives. James Jaska served in a number of executive roles for more than 10 years..."/>
BWXT Names Jaska, Krieg, Niland to Board of Directors
Elbit Vision Systems Ltd., a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today that it has received orders totaling about $1 million from China. These orders are a cumulative total from multiple Chinese manufacturers. The first was from a new customer for seven nonwoven inspection systems in which EVS won in a highly competitive bid."/>
EVS Wins Orders of About $1 Million in China
Regal Beloit Corporation will be presenting at the Morgan Stanley 4 TH Annual Laguna Conference on September 15, 2016 at 2:00 pm PDT. The presentation will be webcast and can be accessed at: https://cc.talkpoint.com/morg007/091416a_ae/? An archive of the audio webcast will be available for 180 days following the presentation at the link referenced above or on the Company's investor relations home page at:..."/>
Regal Beloit Corporation To Present At The Morgan Stanley 4th Annual Laguna Conference
Aircastle Limited announced today that it delivered one Airbus A330-200 aircraft on long-term lease to Aerolíneas Argentinas, the first of two deliveries which will support Aerolíneas' fleet modernization. This aircraft is a modern wide-body configured to meet Aerolíneas Argentinas' long-haul requirements and features the airline's new cabin interior with lie-flat seats in business class. It will be used to replace older, less..."/>
Aircastle Delivers Airbus A330-200 to Aerolíneas Argentinas

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