1. Home
  2. Articles posted by: Rona Fried (Page 2198)

Quantum to Acquire Starcraft Corp.

Quantum Fuel Systems Technologies Worldwide Inc., (Nasdaq: QTWW) announced today it has entered into an agreement to acquire all the outstanding shares of Starcraft Corporation (Nasdaq: STCR) in a stock-for-stock exchange valued at approximately $185 million, including the assumption of debt and other consideration. Each Starcraft shareholder will receive about 2.34 shares of Quantum common stock for every share of Starcraft common stock. Based on recent activity, the deal values Starcraft at $17.15 per share, a 42 percent premium to its closing price of $12.05. Quantum did not estimate the financial impact of the acquisition. "We believe this acquisition will expand Quantum's OEM 'one-stop-shop' capability with expanded resources in terms of vehicle system design, powertrain engineering, systems integration, validation, and second stage manufacturing and assembly for all future alternative fuel and fuel cell vehicle programs," said Alan P. Niedzwiecki, Quantum's President and Chief Executive Officer. "Merging the two companies will allow the combined company to expand its current OEM capabilities while positioning itself as a major player in the early stage development and production of fuel cell vehicles. The Starcraft product portfolio coupled with its service and assembly capabilities will position Quantum as a specialty vehicle designer, integrator and assembler […]

Read More

General Electric Agrees to Acquire Ionics

Growing GE's World-Class Water & Process Treatment Platform – Adds Desalination, Water Reuse and Industrial Ultrapure Water Services GE Infrastructure, a unit of General Electric Company (NYSE:GE), and Ionics, Inc. (NYSE:ION) announced today they have signed a definitive agreement for GE's acquisition of Ionics in an all cash merger for $44 per share, valuing the transaction at approximately $1.1 billion plus the assumption of existing debt. Ionics is a global leader in desalination, water reuse & recycling, and industrial ultrapure water services. Ionics will join GE Infrastructure's Water & Process Technologies business unit upon completion of the transaction. "Water is the lifeblood of industries and communities around the world, and scarcity, increasing demand and rising costs are driving the need to conserve, reuse and identify new supplies of this essential resource," said Bill Woodburn, President and CEO of GE Infrastructure. "The combination of Ionics' technology, project experience, and services network with GE's operating and project finance expertise will accelerate the development of technology solutions for the global water purification segment. We see significant revenue and cost synergies that will enable us to focus our resources on developing technologies that increase access to safe drinking water and provide industrial customers with […]

Read More

IUCN Urges Time Out for Genetically Modified Organisms

BANGKOK, Thailand, November 22, 2004 (ENS) – Members of the world's largest conservation organization today called for a halt to the release of genetically modified organisms. Meeting in Bangkok, delegates from 1,000 organizations at the IUCN World Conservation Congress are debating 114 motions to decide the future direction of IUCN – The World Conservation Union. The question with respect to genetically modified organisms boiled down to whether the IUCN should encourage a moratorium on genetically modified organisms, or help establish a sound body of knowledge on their environmental risks and impacts. At the Members Business Assembly today, delegates from both the government and the NGO sectors approved a moratorium by a wide margin. Turning to the issue of international trade in wild animals and plants, two workshops led by members of TRAFFIC, the wildlife monitoring organization, concluded that this trade is mounting to unsustainable levels. "Effective action requires systematic interventions across entire trade chains, particularly focused on market drivers and increasing our understanding of how to mobilize consumer choice towards sustainable alternatives," said Dr. Craig Kirkpatrick, director of TRAFFIC East Asia. Asia's wildlife trade involves thousands of animal and plant species from terrestrial, marine and freshwater biomes. The high volume […]

Read More

Pennsylvania Passes Renewable Portfolio Standard

On November 20, the Pennsylvania legislature passed SB1030, the Alternative Energy Bill. It requires the state to source 18% of its electricity by renewable sources by 2020. 8% of Pennsylvania's electricity must be generated by so-called "Tier I" renewable sources of energy by 2020, such as solar, wind, geothermal and biomass. It requires 10% of electricity to come from second tier sources such as waste coal, integrated combined coal gasification technology, municipal solid waste, large-scale hydro, demand-side management and distributed generation systems. According to research by Platts' Analytics group, Pennsylvania will develop 3,600 megawatts (MW) of new wind energy capacity to meet the Tier I requirements of the new standard. The new wind capacity will join 129 MW of wind capacity already generating in Pennsylvania. SB1030 requires over 250 MW of new solar capacity by 2016, and Platts anticipates that Pennsylvania will also develop smaller amounts of new landfill gas generation, animal waste- based generation, and low-impact hydro generation to meet the Tier I requirements of the standard. "With the passage of SB1030, Pennsylvania is poised to become a major developer and exporter of renewable power," said Jack Ihle, energy analyst at Platts. "Renewable portfolio standard laws in neighboring New […]

Read More