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U.S. Companies Face Record Number of Global Warming Shareholder Resolutions

New York State, New York City and Connecticut Pension Funds Join Labor, Foundation, Religious and other Filers. Oil and gas companies, electric power producers, real estate firms, manufacturers, financial institutions and automakers face a record number of global warming resolutions that have been filed by shareholders for the 2005 proxy season, according to investor groups Ceres and the Interfaith Center on Corporate Responsibility. State and city pension funds and labor, foundation, religious and other institutional shareholders have filed 31 resolutions requesting financial risk disclosure and plans to reduce greenhouse gas emissions with nine oil and gas companies, six manufacturers, three electric power providers and two automakers. The companies are among the largest greenhouse gas emitters in the country, making them especially vulnerable to the risks of likely regulatory- and market-based limits on carbon dioxide emissions worldwide. In addition to the 31 resolutions, shareholders are also involved in negotiations with several dozen other companies aimed at improving those companies’ disclosure and action on climate risk. The 31 filings easily surpass the 22 global warming shareholder resolutions filed last year. Many of last year’s resolutions received the highest voting support ever, particularly in the oil and gas sector where support levels were […]

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Trex Completes Year of Strong Growth

2004 Revenue Increases 33%, EPS up 28% Trex Company, Inc. (NYSE: TWP), manufacturer of wood plastic Trex decking and railing, today announced financial results for the fourth quarter and fiscal year ended December 31, 2004. Net sales for the 2004 fourth quarter totaled $29.6 million compared to $21.9 million for the 2003 fourth quarter. The net loss decreased to $0.4 million, or $0.02 per diluted share, for the 2004 fourth quarter from a net loss of $0.8 million, or $0.05 per diluted share, for the 2003 fourth quarter. Chairman and Chief Executive Officer Robert Matheny commented, “Trex Company typically reports a loss in the fourth quarter due to the highly seasonal nature of deck installations, whose peak periods occur from late winter through September. As is usual in the fourth quarter, we built product inventory to prepare for the heavy demand we anticipate during the upcoming peak season. During the period, our cost of sales was negatively affected by the higher cost of plastic raw materials.” For the full 2004 year, Trex Company reported net sales of $253.6 million compared to $191.0 million for 2003, which represents an increase of 33%. Net income increased 29% to $27.2 million, or $1.83 […]

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Evergreen Solar Introduces Sunplicity Flat Roof Mounting System

Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products based on its proprietary, low-cost String Ribbon(TM) wafer technology, has introduced Sunplicity(TM), an advanced Flat Roof Mounting System (FRMS) designed specifically for use with its EC-100 Series modules. Geared for large and small solar PV installations on commercial, institutional and government buildings, the Sunplicity FRMS is a non-penetrating, aerodynamic, self-ballasted system that enables faster, easier and more cost-effective PV installations. “Sunplicity is a customer-driven product extension that directly complements our growing module production capabilities,” said Terry Bailey, Senior Vice President, Marketing and Sales. “The Sunplicity FRMS assures that our customers have clear access to the large and rapidly growing grid-tied commercial flat roof market.” Rated for wind speeds as high as 130 miles per hour, the Sunplicity FRMS employs a simplified grounding system that exploits the electrical conductivity of the FRMS frame matrix. Solar panels are quickly grounded to the frame matrix. Sunplicity’s grounding system represents a major advance over other systems. Evergreen Solar is continually working to improve its unique products and lower the cost of solar electricity. Sunplicity’s five-degree pitch on panels provides for self-cleaning to maximize electricity production. To further increase energy output, Sunplicity is designed […]

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