Industry News

Accuride Corp., a supplier of components for commercial vehicles in North American and European markets, reported second quarter 2016 net sales of $164.1 million, a decrease of $21.3 million, or 11.5 percent, compared to the second quarter of 2015.. The company achieved positive net income of $2.5 million, or earnings of $0.05 per share, in the second quarter. That's down from $0.13 per share in the second quarter of 2015, when revenues were much higher due to near-record..."/>
Accuride Corp. reports second quarter results [The Gleaner, Henderson, Ky.]
Yamaha establishes second R&D centre in India [Mint, New Delhi]
IRB Infrastructure Developers Ltd and Sterlite Power Grid are gearing up to list their Infrastructure Investment Trusts, and one of them will be the first in India to do so, according to three people aware of the development. Toll road developer IRB is looking to file its so-called draft red herring prospectus for its InvIT as early as around the middle of August, said one of the three people cited above. InvITs are trusts that manage income-generating..."/>
Sterlite?Power,?IRB Infrastructure inch closer to InvIT launches [Mint, New Delhi]
Huntington Ingalls Industries nearly $195 million to continue advance work toward the mid-life overhaul of the aircraft carrier USS George Washington. The overhaul will be performed at HII's Newport News Shipbuilding division. The George Washington is currently at Naval Station Norfolk."/>
Huntington Ingalls awarded $195M toward carrier overhaul [Daily Press (Newport News, Va.)]
Tennant Co. posted a 3.4 percent increase in earnings for the second quarter, carried by record sales in the Americas region. The Golden Valley-based maker of floor cleaning machines posted net income of $15.3 million for the quarter, up from $14.8 million in the same quarter of 2015.. Diluted earnings per share for April, May and June were 85 cents per share, up 7.6 percent from the 79 cents per share in the same quarter last year."/>
Tennant posts positive second-quarter results, buoyed by record sales in Americas region [Star Tribune (Minneapolis)]
Caterpillar Inc.' s 2016 second-quarter numbers and the results look pretty good. Profit per share of $1.09 beat Wall Street estimates by a solid 13 cents, while sales and revenues of $10.3 billion bested Street expectations by $280 million. But the devil is in the details, and it's clear all Peoria-based Caterpillar knows these days are sad songs."/>
Caterpillar continues struggle in second quarter [Herald & Review, Decatur, Ill.]
Jaiprakash Power Ventures Ltd, part of the debt-laden Jaypee Group, on Tuesday said its lenders have recommended the invocation of strategic debt restructuring. The power producer will be the second group company after Jaiprakash Associates Ltd, where lenders have recommended or discussed invoking SDR. "The lenders are planning on an SDR in the power arm because it allows them some time to manage a standard asset classification."/>
Jaiprakash Power lenders to invoke strategic debt revamp [Mint, New Delhi]
Jaiprakash Power Ventures Ltd of Rs.656 crore and Rs.2, 272.46 crore to' D' or a default rating from' B'. The agency also reaffirmed its' D' rating on long-term bank facilities of Rs.12, 241.53 crore. Care Ratings also said it has withdrawn Jaiprakash's Rs.2, 272.46 crore bank facilities pertaining to its Bina thermal power plant from its credit watch."/>
Care Ratings downgrades bank facilities of Jaiprakash Power to 'D' [Mint, New Delhi]
Xerium Technologies, Inc., a leading global provider of industrial consumable products and services, today announced the pricing of its $480 million aggregate principal amount of 9.500% Senior Secured Notes due 2021. The Notes will be issued at a price equal to 98.540% of their face value. The Notes will pay interest semi-annually in arrears on February 15 and August 15 of each year beginning on February 15, 2017 and will mature on August 15, 2021, unless..."/>
Xerium Technologies, Inc. Announces Pricing of Senior Secured Notes Offering
Spirit Airlines will begin regular flights from Akron-Canton Airport to several Florida destinations in November. The airport and airline officials announced the additional service Tuesday morning. Akron-Canton officials said they have worked 10 years to get Spirit to offer service here."/>
Spirit Airlines to begin flying to Florida from Akron-Canton [The Repository, Canton, Ohio]
Caterpillar Inc. once again announced diminished sales for the second quarter of the year and pointed to soft global markets and political turmoil as reasons for a dim outlook for the remainder of the year. The company's second quarter report also indicated additional layoffs are expected in the second half of 2016-- beyond the massive round of thousands of job cuts announced late in 2015. Those positions do not appear to be centered in any one area but will include..."/>
Caterpillar Inc. expects more layoffs after disappointing second quarter [Journal Star, Peoria, Ill.]
Tutor Perini Corporation, a leading civil and building construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Tuesday, August 2, 2016, to discuss the Company's second quarter results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to distribute its earnings announcement the same day after the market close."/>
Tutor Perini Announces Conference Call to Discuss Second Quarter Results
Ballard Power Systems today announced its consolidated financial results for the second quarter ended June 30, 2016. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards."/>
Ballard Reports Second Quarter 2016 Results
Ballard Power Systems today announced that Zhongshan Broad-Ocean Motor Co., Ltd. has entered into a strategic collaboration with Ballard which includes a $28.3 million equity investment in Ballard, representing 9.9% of the company following the transaction. Founded in 1994, Broad-Ocean is headquartered in the City of Zhongshan in Guangdong Province and is..."/>
Ballard Announces Strategic Collaboration and Equity Investment Deal With Broad-Ocean
Ballard Power Systems today announced that Zhongshan Broad-Ocean Motor Co., Ltd. has entered into a strategic collaboration with Ballard which includes a $28.3 million equity investment in Ballard, representing 9.9% of the company following the transaction. Founded in 1994, Broad-Ocean is headquartered in the City of Zhongshan in Guangdong Province and is listed on..."/>
Ballard Announces Strategic Collaboration and Equity Investment Deal With Broad-Ocean
Orion Energy Systems, Inc., a leading designer and manufacturer of high-performance, energy-efficient retrofit lighting platforms, today announced that it will hold its Fiscal 2017 first quarter results conference call for analysts and investors on Tuesday, August 2, 2016, at 4:30 p.m. Eastern Time. The earnings announcement release is scheduled to be issued after the close of the market. Orion's Chief Executive Officer, John Scribante, and Chief..."/>
Orion Energy Systems Schedules Fiscal 2017 First Quarter Financial Results and Conference Call
Kansas City Southern announced today that it has received 100% participation in and has completed registered exchange offers of:. $244,820,000 in aggregate principal amount of its Floating Rate Senior Notes due 2016, registered under the Securities Act of 1933, as amended, for any and all of its outstanding unregistered Floating Rate Senior Notes due 2016; $257,346,000 in aggregate principal amount of its 2.35% Senior Notes due 2020, registered under the..."/>
KCS Receives 100% Participation in Its Registered Exchange Offers for $2.088 Billion of Senior Notes
Duke Energy's rapid turn to natural gas to fuel its power plants is contributing to slightly cheaper electricity for its Charlotte customers. Gas supplies are outstripping demand, so prices have dropped to historic lows. Duke expects gas prices to be 32 percent cheaper over the next year than they were in 2015.."/>
Why your electric bill drops when natural gas prices do [The Charlotte Observer]

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