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After canceling its GDR (global depositary receipt) issue, E-ton Solar Tech said it plans to issue US$100 million worth of ECB (euro convertible bonds) instead to raise funds. E-ton will issue the five-year ECB with Morgan Stanley as the underwriter with a face value temporarily set at US$1,000 or multiples of US$1,000. The solar cell maker expects to complete the ECB issue by the end of 2006 in order to fund plant construction, equipment and material procurement. A Chinese-language Commercial Times report cited company officials as saying that a bank loan is also likely. In light of the observed unstable economic environment, E-ton said an extension of capital size is not desirable for the company. The ECB issue, on the other hand, does not impact the company's capital size and has an associated liability cost of almost zero, according to the Commercial Times report.
ExxonMobil will create 55 jobs by installing $20 million worth of plastics-producing equipment in a north Baton Rouge warehouse.Construction of the ExxonMobil Chemical project will begin in October and wrap up next spring. The 55 workers, largely process operators, will average more than $45,000 in annual income. Training will ramp up in early 2007 as 40 constructions workers complete the installation in a 500,000-square-foot warehouse at ExxonMobil’s plastics plant, on Howard Road near La. 19. The company already produces a variety of plastic goods in pellets that emerge from a polymer process. The new equipment — which will power several production lines — takes the process further and customizes blends of plastics for automotive and consumer goods manufacturers.
Oct. 16 (Bloomberg) -- Oshkosh Truck Corp., maker of military vehicles used to carry cargo in Iraq, agreed to buy construction- equipment maker JLG Industries Inc. for about $3 billion to lessen the company's dependence on defense spending. JLG investors will receive $28 a share in cash, Oshkosh said today in a statement distributed by Business Wire. That would be 35 percent more than JLG's closing price on Oct. 13. Oshkosh also will assume some debt. The deal steps up Chief Executive Officer Robert Bohn's expansion into markets such as commercial construction gear. JLG sells mobile work platforms and booms. Oshkosh made more than a dozen acquisitions in the past 10 years to break into new markets and in July agreed to buy Iowa Mold Tooling Co. to get vehicles used to perform mechanical repairs on construction sites.
BURKERT Fluid Control Systems will display its latest product range on Stand 2311 during the Queensland Manufacturing Technology Exhibition (QMan) at Brisbane Convention & Exhibition Centre, October 17-19. New products include the latest electro-pneumatic automation system modules designated "intrinsically safe" for explosion hazard zones, a new series of modular solenoid, process and pneumatic valves, and advanced fluid control instrumentation. Burkert Fluid Control Systems manufactures automation equipment including industrial sensors, instruments, controllers, pneumatic actuators and process valves in Germany. These intelligent products can be linked or networked to PLC and DCS systems to provide innovative process control solutions. All the company's products are engineered to a modular concept, designed to facilitate smart customisation to key markets and industries with applications including analysis, automotive, biotechnology, chemical, electronics, semiconductors, cosmetics, food and beverages, machine construction, medical and pharmaceutical, textiles, packaging and water treatment.
Recycling as much debris as possible has become part of the process of demolishing structures in this day and age. Some items taken from buildings, such as steel, wood and concrete, are in high demand and command fairly nice prices. Then there are items left behind that the demolition contractor can salvage and sell. Pat Clauss, owner of Clauss Construction in Lakeside, removed a pair of wood and glass doors that once served as the entrance to Steve Wynns art collection at the Desert Inn in Las Vegas. The doors, including frames with inlaid gold, and magnificent beveled glass designs, were installed at his new Lakeside office, along with glass sconces retrieved from the same project. At several sites he has found workable heavy equipment and other machinery easily sold, or re-used by the company.
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