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Timberland Releases 2004 Corporate Social Responsibility Report

The Timberland Company (NYSE: TBL) issued its third corporate social responsibility (CSR) report highlighting Timberland’s CSR priorities, programs, progress and challenges related to global human rights, environmental stewardship, community involvement, and employee engagement. The report uses the standards of the Global Reporting Initiative (GRI). “It’s been several years since Timberland last reported publicly on our activities and efforts to be a good corporate citizen,” said Jeffrey B. Swartz, Timberland’s President and Chief Executive Officer. “That is not to say that we haven’t tried to produce a CSR report since that time. In fact, we’ve started several. But each time, we ultimately decided that it wasn’t enough. There were too many holes, too many questions and not enough concrete, tangible, reliable information to share. And, in this age of too many voices and not enough time to listen, we felt it best not to add one more voice to the conversation unnecessarily.” Timberland’s report relies heavily on the guidelines issued by the GRI and primarily covers the 2004 calendar year. Highlights include: * Timberland’s 2004 audits of 94% of its contract factory base identified health and safety, compensation and fair and equal treatment as the three most frequent areas where infractions […]

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GM Exploring Manufacturing Hybrids in China

General Motors Corp. (GM) Chairman and CEO Rick Wagoner and SAIC Motor Corp. Ltd. (SAIC Motor) Chairman Hu Maoyuan signed a Memorandum of Understanding today in Shanghai to explore opportunities for the local application and production of hybrid vehicles in China. The two partners will explore the expansion of the current GM-Allison-SAIC hybrid demo bus program announced last October to a larger bus fleet for Shanghai’s mass transportation system in advance of the 2010 World Expo in Shanghai. GM and SAIC will also pursue passenger car hybrid options as well as other clean-energy vehicle applications including hydrogen fuel cell technologies for China’s relevant vehicle platforms. The goal is to have available a number of different models designed to meet the different needs of China’s consumers. The introduction of locally manufactured vehicles is targeted to be available beginning in 2008. According to Rick Wagoner, the two companies have the technical advantage of their Pan Asia Technical Automotive Center (PATAC) joint venture in Shanghai. The well-established, eight-year-old local engineering and design center will be responsible for hybrid system application engineering and integration in vehicles. PATAC’s designers, engineers and technicians will be involved in a number of hybrid programs applicable to vehicles manufactured […]

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SunPower Corp. Sets Terms for IPO

SunPower Corporation’s anticipated IPO is a step closer now that the solar PV manufactuer filed for a 7.7 million share offering at $12-$14 a share. Underwriters will be Credit Suisse First Boston and Lehman Brothers. The Cypress Semiconductor spin-off, will be listed on Nasdaq under the symbol “SPWR”.

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FuelCell Energy's Korean Alliance Partner Announces New Agreement

FuelCell Energy, Inc. (NasdaqNM:FCEL) announced that its Korean strategic alliance distribution partner POSCO has formed a partnership with one of the country’s six electric utilities to market and sell fuel cell products for grid support applications. POSCO will install and operate a 250-kilowatt Direct FuelCell (DFC) power plant from FuelCell Energy at the Bundang plant of Korea-South East Power (KOSEP), located in Gyeonggi province, South Korea. The companies also have agreed to co-develop and market fuel cells. KOSEP is a subsidiary of KEPCO, which formerly was the Korean national power company until six subsidiary companies were spun off as part of the country’s deregulation of its electric power industry. KOSEP’s gross generating capacity last year was 37 terawatt hours of electricity, or 10.2 percent of the country’s overall generating capacity. KOSEP’s parent company, KEPCO, is the largest among nine energy suppliers to have signed an agreement with Korea’s Ministry of Commerce, Industry and Energy committing them to develop new energy sources. The nine firms jointly have agreed to invest a combined 1.1 trillion won (approximately $983 million) in developing new energy resources over the next three years. Website: http://www.fuelcellenergy.com     

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