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Archive for June 25th, 2014

SNC-Lavalin to acquire Kentz Corporation Limited, a leading oil & gas services company with a global presence

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– A key milestone in SNC-Lavalin’s strategy of becoming a global Tier-1 engineering and construction company

MONTREAL /PRNewswire/ — SNC-Lavalin Group Inc. (TSX: SNC) (SNC-Lavalin) is pleased to announce that it has reached an agreement with Kentz Corporation Limited (Kentz), approved by the boards of directors of both companies, on the terms of a cash acquisition by which the entire ordinary share capital of Kentz–issued and to be issued–will be acquired by SNC-Lavalin. Kentz is a global oil & gas services company, with 14,500 employees operating in 36 countries who provide engineering, construction and technical support services to clients in the oil & gas sector. The full announcement was issued earlier publicly and may be viewed on SNC-Lavalin’s website.

The proposed acquisition of Kentz is fully aligned with SNC-Lavalin’s strategy of becoming a global Tier-1 engineering and construction (E&C) services firm. The addition of Kentz’s capabilities will make SNC-Lavalin a leading global E&C player in the oil & gas sector, with a greater presence in key growth regions, including theMiddle EastNorth America and Asia Pacific, with a significant presence in Australia. The acquisition also meets the strategic priority of balancing the Company’s risk profile by significantly raising the percentage of revenues it derives from services. This has been supported by discussions between both parties and a robust due diligence process.

“We look forward to adding Kentz to our group and significantly strengthening our capabilities in the oil & gas sector,” said Robert G. Card, President and CEO, SNC-Lavalin Group Inc. “We are excited by the prospect of merging the excellent capabilities of our two oil & gas teams under the leadership of Christian Brown, Kentz’s CEO, which will create a world-class team inside of SNC-Lavalin to better serve our combined clients worldwide. This proposed acquisition and the agreement to sell AltaLink are important milestones in our stated strategy for growth. Together, they give us confidence to increase our focus on the disposition of other mature assets. ” he added.

“On behalf of our Board I am pleased to announce SNC-Lavalin’s recommended cash offer to our shareholders, which has received unanimous support from our Board members. We feel that the Offer recognizes the value of our future prospects, world-class client base, and our excellent people; the ultimate assets of our business. It also offers certainty, in cash, to Kentz Shareholders today,” said Christian Brown, CEO, Kentz. “Our track record in providing complex engineering and construction solutions to the energy sector globally, has evolved considerably from our first international projects in the 1970s, and many of the people instrumental to our growth remain with us today. We have a bright future and I believe that SNC-Lavalin’s technical abilities and scale can support our continued success and bring further benefits to our employees, clients, and partners. I would like to extend my personal gratitude to all of the people that make Kentz what it is and look forward to continuing our success together.”

TRANSACTION HIGHLIGHTS

  • Under the terms of the acquisition, each Kentz shareholder will be entitled to receive £9.35 (C$17.13) in cash for each Kentz share, valuing Kentz’s aggregate existing issued and to be issued ordinary share capital at approximately £1.2 billion (C$2.1 billion). This represents a premium of 33% to the closing price of a Kentz share on June 20, 2014, the last business day before this announcement, and a 33% premium to the volume weighted average price of a Kentz share for the 30-day period prior to the announcement.
  • The acquisition is expected to be earnings accretive in the first full financial year after closing.
  • SNC-Lavalin has an integration plan and a management team with significant experience and expertise to deliver a highly successful integration. The transaction is expected to deliver strong financial benefits, including estimated annual cost synergies of approximately C$50 million by the end of the first full financial year after closing.
  • This acquisition is expected to increase SNC-Lavalin’s headcount by about 14,500, creating a combined company of about 44,500*, with 18,500* employees dedicated to the oil & gas sector.
  • The acquisition is expected to raise SNC-Lavalin’s overall backlog by C$4.9 billion, approximately 78% of which is expected to come from lower risk/higher margin services-based contracts. This is expected to bring the total backlog of the combined company to approximately C$13 billion*.
  • Kentz’s Board of Directors has unanimously agreed to recommend the transaction to Kentz’s shareholders.
  • The acquisition will be financed by an asset sale bridge loan of C$2.55 billion, and a term loan of C$200 million.
  • Irrevocable undertakings have been received in support of the transaction in all circumstances from Kentz’s directors holding Kentz shares and certain individual shareholders. Total irrevocable undertakings received represent a total of 14.4% of Kentz’s outstanding shares.

BUSINESS RATIONALE

Consistent with the stated strategy

  • The proposed acquisition of Kentz is consistent with SNC-Lavalin’s strategy of becoming a global Tier-1 engineering and construction (E&C) company, with a leading position in the oil & gas sector:
    • Significantly increases SNC-Lavalin’s exposure in the higher margin oil & gas sector, and is expected to raise the percentage of its annual revenue derived from oil & gas services from 7 to approximately 24%*.
    • Transforms SNC-Lavalin’s Oil & Gas business, creating a group with 18,500* highly qualified employees worldwide and providing important industry scale.
    • Adds upstream capabilities, Liquefied Natural Gas (“LNG”) expertise, as well as unconventional oil & gas capabilities to SNC-Lavalin—in the oil sands, and in the shale gas growth sector following Kentz’s acquisition of Valerus Field Solutions in January 2014.
    • Combined company will draw from SNC-Lavalin’s expertise (in front-end design and engineering) and Kentz’s expertise (in construction management, commissioning and asset management) to increase the breadth of services offered to clients.
    • Enhances SNC-Lavalin’s ability to carry out larger and more complex oil & gas projects which meet client expectations for schedule and budgetary performance.
  • The acquisition is expected to create greater balance in SNC-Lavalin’s overall risk profile by raising the expected portion of annual revenues the Company derives from services contracts from 34% to approximately 40%*.

Extending geographic reach and expanding in high-growth regions

  • The combined company will have a stronger North American presence, particularly in the US.
  • The acquisition is expected to materially increase SNC-Lavalin’s current annual revenues from the Middle East and Asia-Pacific, with a significant presence in Australia.
  • Complementary expertise, clients and exposure to attractive sectors
  • The companies have complementary skills and services with limited overlap, which are expected to drive future revenue growth.
  • The expanded service offering has the potential to generate cross-selling opportunities to the combined customer base, such as expanding the upstream and environmental service offering internationally.
  • The acquisition is expected to increase SNC-Lavalin’s access to a blue-chip client base.
  • The combined company will leverage the most efficient and effective processes, systems and policies to enhance future growth and delivery of services to our clients.
  • Kentz is a highly client-focused organization that benefits from strong relationships, which generate a high degree of repeat business.
  • To derive the optimal value, Kentz will be fully integrated into SNC-Lavalin by incorporating SNC-Lavalin’s oil & gas business into Kentz’s operations. The combined operation will be managed by a leadership team selected from a mix of talent from both companies under the leadership of Christian Brown, Kentz’s Chief Executive Officer, who will in turn report to Neil Bruce, President, Resources, Environment & Water, SNC-Lavalin.
  • Kentz’s and SNC-Lavalin’s experienced and talented management teams bring complementary strengths and deep industry knowledge to grow the business.

“We are thrilled at the prospect of joining forces with Kentz, a company with an excellent reputation, repeat business from satisfied clients and an extensive track record for high-quality work,” said Neil Bruce, President, Resources Environment & Water, SNC-Lavalin Group Inc. “This acquisition complements our existing client offering, further broadens our geographic reach in high-growth regions, and is expected to drive future revenue growth and cross-selling opportunities. By increasing our mid- and upstream greenfield capabilities in oil & gas, as well as enhancing our ability to efficiently complete, commission and provide asset support for projects, we will jointly be better able to help clients maintain and enhance their facilities affordably, safely and efficiently.”

RBC Capital Markets is acting as financial adviser and corporate broker to SNC-Lavalin. Morgan Stanley and Ondra Partners have also provided financial advice to SNC-Lavalin. SNC-Lavalin’s legal adviser is Norton Rose Fulbright and Stikeman Elliott acted as special board consel. SNC-Lavalin’s accountants are Deloitte LLP.Maitland acted as financial communications consultants.

OFFER DETAILS AND TIMETABLE

The acquisition is planned to be effected by means of Court-sanctioned scheme of arrangement in Jersey. The transaction will be subject, inter alia, to the satisfaction or waiver of the conditions, the approval of the scheme of arrangement by the Kentz shareholders, the receipt of applicable regulatory approvals and the Court’s sanction of the scheme of arrangement. All relevant documentation will be made available on SNC-Lavalin’s website atwww.snclavalin.com.

Details of the recommended acquisition will be sent to Kentz shareholders within 28 days of the date of this announcement. It is anticipated that the acquisition will be completed in the third quarter of 2014.

Note: the reference exchange rates assumed are £1:C$1.832 and US$1:C$1.077

* Pro-forma 2013 figures based on 2012A of the Valerus business (Kentz Circular dated December 9, 2013)

CONFERENCE CALL INFORMATION

SNC-Lavalin will hold a conference call on Monday, June 23, 2014 at 8:00am EDT to discuss the proposed acquisition of Kentz with the financial community and media. Participants will include Robert G. Card, President and CEO, SNC-Lavalin; Neil Bruce, President, Resources, Environment & Water, SNC-Lavalin; and Alain-Pierre Raynaud, Executive Vice-President and CFO, SNC-Lavalin. To participate, please dial toll-free at 1-866-530-1553, or 416-847-6330 in Toronto, or 514-223-0612 in Montreal, or 08002790444 in the United Kingdom. Please note that this call will be accompanied by an online presentation that will be available on the main page of SNC-Lavalin’s website approximately one hour prior to the call. A recording of the conference call will also be available on our website within 24 hours following the end of the call. Members of the media are welcome to listen-in during the question period dedicated to financial analysts, following which they will be invited to ask questions related to this announcement.

ABOUT SNC-LAVALIN

SNC-Lavalin Inc. (TSX: SNC) is one of the leading engineering and construction groups in the world, and is a major player in the ownership of infrastructure and in the provision of operations and maintenance services. Founded in 1911, SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently active in some 100 countries. www.snclavalin.com

ABOUT KENTZ CORPORATION LIMITED

Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil & gas, petrochemical and mining and metals sectors. It is listed on the London Stock Exchange (symbol: KENZ). Kentz has over 14,500 employees in 36 countries. Its three main business lines are: Engineering and Projects, Construction, and Technical Support Services (TSS). It has a proven track record of delivering mechanical, electrical, controls and instrumentation engineering, construction and management services in some of the most remote locations on earth.

ADDITIONAL INFORMATION

This press release is not intended to form the basis of any investment decision. It does not constitute an offer or invitation for the sale or purchase of any securities, businesses and/or assets or any recommendation or commitment by SNC-Lavalin or any other person and neither this press release, nor its contents nor any other written or oral information made available in connection with the transaction shall form the basis of any contract.

This press release has been prepared without reference to your particular investment objectives, financial situation, taxation position and particular needs.

If you have any doubt regarding these matters, you should consult your financial or other advisers.

This press release does not purport to be comprehensive or to contain all the information that a recipient may need in order to evaluate the transaction. No representation or warranty, express or implied, is given and, so far as is permitted by law and no responsibility or liability is accepted by any person, with respect to the accuracy or completeness of the press release or its contents or any oral or written communication in connection with the transaction. In particular, but without limitation, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any projections, targets, estimates or forecasts contained in this press release. By publishing this press release, SNC-Lavalin does not undertake any obligation to provide any additional information or to update this press release or any additional information or to correct any inaccuracies which may become apparent.

FORWARD-LOOKING STATEMENTS

This press release contains statements that are or may be “forward looking statements” or “forward looking information” within the meaning of applicable securities laws. All statements other than statements of historical facts included in this press release may be forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”, “goal” or “strategy” or, words or terms of similar substance or the negative thereof, are forward looking statements. Forward looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, economic performance, indebtedness, financial condition, losses and future prospects; and (ii) business and management strategies and the expansion and growth of SNC-Lavalin or Kentz’s operations and potential synergies resulting from the transaction.

These forward looking statements are not guarantees of future financial performance. Such forward looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof. All subsequent oral or written forward looking statements attributable to SNC-Lavalin or any of its directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. SNC-Lavalin disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

For further information:

Media:
Lilly Nguyen
Public Relations Manager, Global Corporate Communications
SNC-Lavalin Group Inc.
514-393-8000, ext. 54772
lilly.nguyen@snclavalin.com

Investors:
Denis Jasmin
Vice-President, Investor Relations
SNC-Lavalin Group Inc.
514-393-8000, ext. 57553
denis.jasmin@snclavalin.com

(SNC.)

Source: SNC-Lavalin

Related stocks: Toronto:SNC

Written by asiafreshnews

June 25, 2014 at 5:57 pm

Posted in Uncategorized

Mind the gap – Unlocking investment in infrastructure

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LONDON /PRNewswire/ — One of the biggest economic challenges facing governments and developers around the world is how to meet the growing demand for infrastructure development.

It has been estimated that US $3.2 trillion will be needed each year for the next fifteen years to fund infrastructure development.1 However, the shortfall in available funds is significant – estimated at $500 billion annually. So governments and businesses share an interest in identifying the causes and finding solutions to close this funding gap. The B20 group2, which brings together business leaders from the G20 countries, asked the six largest international accounting networks3 to come together to analyse the issue and develop practical recommendations that would promote more long-term investment from non-government sources in infrastructure.

A Panel of experts from the six largest international accounting networks has now published a report focused on possible accounting and corporate reporting reforms that could help attract increased private financing.

The Panel identified recommendations relating to the following three areas:

  • using corporate reporting to achieve a longer-term focus;
  • continuing to improve financial reporting through ongoing accounting standards development; and
  • encouraging improved alignment of regulatory risk calculations with the actual risk profiles of infrastructure investments.

The Panel concludes that – for the most part – changes to accounting principles would not increase the attractiveness of long-term infrastructure investments, but supports the IASB’s ongoing work to improve financial reporting. In particular, the IASB should continue to prioritise the issuance of a global standard on insurance contracts in the near future – with the insurance industry being a potential major investor in infrastructure. The IASB should also continue its consideration of performance reporting as part of its Conceptual Framework and Disclosure Initiative projects.

Historical financial information plays an important role in supporting investor assessments of potential project outcomes, but it cannot provide the complete picture on its own. In recognising this, the Panel recommends that the B20, along with the G20, should actively promote corporate reporting innovations and initiatives that provide investors with a longer-term and broader perspective on shareholder value creation to complement the historical financial performance and current financial position perspective provided by financial statements. The Panel notes the particular relevance of integrated reporting as an example in this respect.

In the report, the Panel acknowledges that other factors – such as the evaluation of regulatory requirements, geographic and political stability or the development of credit enhancement structures for project bonds – have a more significant role to play in making investment in infrastructure more attractive. However, the Panel believes that greater transparency of project data and risks would help to capture potential capital, and that certain improvements could therefore make corporate reporting more conducive to infrastructure and other long-term investment.

More about the Panel
In light of the importance of infrastructure and other long-term investment for the global economy, the B20 created an infrastructure and investment taskforce, which developed actionable recommendations for the G20. As a result of one of these recommendations, the six largest international accounting networks formed a panel to analyse existing accounting and corporate reporting practices, and suggest improvements that would help the corporate reporting model provide a broader perspective of business performance that is more conducive to long-term investment.

About KPMG International

1 Estimate by McKinsey and Standard & Poor’s.
2 The Business 20 (B20), a group of leading representatives of business communities from all G20 countries.
3 The ‘Panel’ comprises representatives from BDO, Deloitte, EY, Grant Thornton, KPMG and PwC.

For further information:

Brian Bannister
KPMG Head of Global Communications
+44 207 694 2601

 

Source: KPMG International Cooperative

Written by asiafreshnews

June 25, 2014 at 4:03 pm

Posted in Uncategorized

Microsoft Devices Group expands affordable smartphone portfolio with the Nokia X2

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— Delivers compelling introduction to second-generation devices and software platform.

REDMOND, Wash. /PRNewswire/ — On Tuesday, Microsoft Devices Group unveiled the Nokia X2, the newest addition to the expanding Nokia X family of affordable smartphones designed to introduce the “next billion” people to the mobile Internet and cloud services. The Nokia X2 represents the rapid evolution of the Nokia X family, delivering an enhanced experience across apps, hardware and the user interface. The Nokia X2 offers stunning design, a more visually striking Fastlane, more Microsoft services, and upgraded specifications including a 4.3-inch ClearBlack display and 5MP rear camera with autofocus and flash. At a suggested retail price of just 99 euros,1 the Nokia X2 is a compelling choice for a new generation of smartphone buyers.

Logo – http://photos.prnewswire.com/prnh/20000822/MSFTLOGO

Like the Nokia X, the new Nokia X2 provides access to a world of Android apps and popular Microsoft services, while allowing people to switch between their favorite apps with the Fastlane feature. The Nokia X2 delivers an even more intuitive, smoother user experience powered by a Qualcomm® Snapdragon™ 200 processor featuring a dual core 1.2GHz CPU and 1 GB of RAM. The Nokia X2 debuts the next-generation Nokia X Software Platform 2.0 and major enhancements to the user interface. People can choose between three types of screens to facilitate navigation: the colorful “home” with resizable tiles; Fastlane to access recent apps and future calendar items; and a new Lumia-inspired apps list, from which people can pin items to the home screen. A pull-down notifications tab also allows people to glance at connectivity options as well as actionable items, such as software updates available for download. A new home key and visual multitasking complete the experience.

Microsoft continues to invest in services for the Nokia X family

As a gateway to Microsoft services, the Nokia X family is driving strong uptake of services such as Skype and OneDrive, while complementing the Lumia family of smartphones. The Nokia X2 will debut with Outlook.com, Skype and OneDrive pre-loaded, with more available from the Nokia Store, including the Bing Search app.

New-to-the-lineup services including OneNote and Yammer are also available to download free2 from the Nokia Store. OneNote allows people to create notes and save them to the cloud through OneDrive, while Yammer makes collaborating with people online as easy as posting to a social network. The option to automatically back up the camera roll to OneDrive takes full advantage of 15 GB of free cloud storage now available through the service, for safeguarding photos, videos, documents and more.

The Nokia X2 will also introduce new third-party titles such as LINE Ranger, Brewster and Findery. Instagram, WeChat, Skype, Benji Bananas Adventures and many more are already available on the redesigned, easy-to-navigate Nokia Store — the place for finding the highest-quality Android apps for the Nokia X family.

Stunning, distinctive design

The Nokia X2 features a seamless monobody and showcases a new approach to the design of the exchangeable back covers that fuses a brightly colored core with a translucent outer layer. The overall result is a durable device that appears lit from within.

The Nokia X2 will be available at launch in glossy orange, black and green, with glossy yellow, white and matte dark grey coming later to the lineup.

“The Nokia X family is going from strength to strength, with the Nokia X smartphone achieving top-selling status in PakistanRussiaKenya and Nigeria,3 while earning the third-best-selling smartphone spot in India,” saidTimo Toikkanen, head of Mobile Phones, Microsoft Devices Group. “The Nokia X2 elevates the Nokia X experience with a stellar new design, ease of use and new Microsoft experiences. We’re proud to continue to bring smartphone innovation to lower and lower price points.”

The Nokia X2 will be available initially as a dual-SIM device and will begin rolling out globally in July 2014 for 99 euros.4

Nokia X2: Specifications at a glance

Item

Dual-SIM variant

Display

ClearBlack 4.3-inch WGVA

Processor

Snapdragon 200 processor featuring a dual core 1.2GHz CPU

RAM

1 GB

Camera, rear

5MP autofocus with flash

Camera, front

VGA

Battery

1800 mAh

Talk time

2G: up to 10 hours

3G: up to 13 hours

Standby time

Up to 23 days

About Microsoft Devices

Microsoft Devices Group is responsible for the company’s devices strategy, including Lumia smartphones and tablets, Nokia mobile phones, Xbox hardware, Surface, Perceptive Pixel products, and accessories.

About Microsoft

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services, devices and solutions that help people and businesses realize their full potential.

Suggested retail price before local taxes and subsidies.
Carrier fees may apply.
3 No.1 in its price point in RussiaKenyaNigeria; No. 1 overall in Pakistan (all rankings Gfk).
Suggested retail price before local taxes and subsidies.

Qualcomm and Snapdragon are trademarks of Qualcomm Incorporated, registered in the United States and other countries. Qualcomm Snapdragon is a product of Qualcomm Technologies, Inc.

Source: Microsoft Corp.

Related stocks: NASDAQ-NMS:MSFT

Written by asiafreshnews

June 25, 2014 at 3:48 pm

Posted in Uncategorized

Coherus Announces Initiation Of Phase 3 Trial Of CHS-0214 (Investigational Etanercept Biosimilar) In Rheumatoid Arthritis

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Coherus Advances Development as Part of Collaboration with Daiichi Sankyo and Baxter

REDWOOD CITY, Calif.June 24, 2014 /PRNewswire/ — Coherus BioSciences, Inc. announced the start of its Phase 3 trial of CHS-0214, an investigational etanercept biosimilar, in rheumatoid arthritis (RA).  The Phase 3 trial is a randomized, double-blind, active-control, parallel-group, multicenter, global study in subjects with active RA who have demonstrated an inadequate response to methotrexate.  The primary endpoint is ACR 20 at 24 weeks.

“The initiation of a CHS-0214 Phase 3 study is an important event for RA patients,” said Barbara Finck, M.D., Chief Medical Officer of Coherus. “This trial of biosimilar etanercept advances our goal to expand access to this life-changing medication for patients with RA.”

“This trial marks our transition to a Phase 3 company,” said Denny Lanfear, Chief Executive Officer of Coherus.  “In concert with our partners, Daiichi Sankyo and Baxter, we are pleased to advance this product to the final stage of development.”

“Coherus brings complementary capabilities with the potential to support accelerated entry into the biosimilar market for Baxter,” said Ludwig Hantson, Ph.D., president of Baxter BioScience.  “This important milestone reflects our commitment to providing high quality biosimilars for patients around the world.”

About Coherus BioSciences, Inc.
Coherus is a leading biologics platform company focused on delivering high quality biosimilar therapeutics that will expand patient access to high quality, life-changing medications worldwide. Headquartered in the San Francisco Bay Area and founded by a group of biotech pioneers who helped build America’s first generation biotherapeutics industry, Coherus has developed a collaborative business model that leverages a strategic consortium of key service providers aligned through ownership and shared incentives.  Coherus’ global commercialization partnerships include top tier biopharma companies in EuropeAsia, and Latin America.

Biosimilars are intended for use in place of existing, branded biologics to treat a range of chronic and often life-threatening diseases, with the potential to reduce costs and expand patient access.  For additional information, please visit www.coherus.com.

About Baxter International, Inc.
Baxter International, Inc., through its subsidiaries, develops, manufactures, and markets products that save and sustain the lives of people with hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.  As a global, diversified healthcare company, Baxterapplies a unique combination of expertise in medical devices, pharmaceuticals, and biotechnology to create products that advance patient care worldwide.

The exclusive collaboration between Baxter and Coherus includes development and commercialization for the etanercept biosimilar in EuropeCanadaBrazil and certain other markets.

This release includes forward-looking statements by Baxter International Inc. related to a clinical trial being conducted by its partner, Coherus BioSciences. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities; clinical results; changes in laws and regulations; product quality or supply or patient safety issues; and other risks identified in Baxter’s most recent filing on Form 10-K and other SEC filings, all of which are available on Baxter’s website. Baxter does not undertake to update its forward-looking statements.

Coherus BioSciences Contact
Beth Jimison
650-649-3526
BJimison@Coherus.com

Logo – http://photos.prnewswire.com/prnh/20120507/SF01448LOGO

Source: Coherus Biosciences, Inc.

Written by asiafreshnews

June 25, 2014 at 12:01 pm

Posted in Healthcare

Supermicro(R) Highlights High Efficiency, High Performance Supercomputing Innovations in its TwinPro2(TM), FatTwin(TM), SuperBlade(R) and MicroBlade Solutions at ISC’14

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LEIPZIG, GermanyJune 24, 2014 /PRNewswire/ — Super Micro Computer, Inc. (NASDAQ: SMCI), a global leader in high-performance, high-efficiency server, storage technology and green computing exhibits its High Performance Computing solutions at the International Supercomputing Conference (ISC ’14) this week inLeipzig, Germany. HPC Solutions designed by Supermicro feature architecture innovations that optimize performance, I/O bandwidth and compute density while providing the most efficient air flow for minimum power consumption as well as ease of installation and maintenance. With enhanced cooling and broadening support for Supermicro’s new Titanium Level, high-efficiency (96%+) power supplies, these SuperServer® solutions offer peak performance with the most green computing advantages available on the market. New innovative platforms highlighted at ISC’14 include the robust 2U TwinPro²™ featuring 4x dual-processor (DP) nodes and redundant Titanium Level high-efficiency (96%+) power supplies, the extreme density, ultra low power 6U 112-node Intel® Atom™ based MicroBlade microserver (196 next-generation Xeon E5 DP per rack configuration coming), 1U NVMe/SAS3, 2U 6x GPU, 4U 8x GPU DP SuperServers, 4U Intel® Xeon® based 4x DP node 12x GPU FatTwin™ and 7U SuperBlade® in 4-way, 2x and 3x GPU configurations. Supermicro will also be announcing support for Intel’s next generation HPC fabric, Intel® Omni Scale Fabric, and next-generation Intel® Xeon Phi™ processor, Knights Landing to simplify upgrade paths and accelerate access to the full parallel performance of Intel® Xeon® based processor and Intel® Xeon Phi™ coprocessor technologies.

“Supermicro’s latest advances in Green Computing from optimization for advanced technologies such as NVMe to cooling architecture innovations and Titanium Level power supplies increases the overall energy efficiency and performance of our most powerful HPC systems,” said Charles Liang, President and CEO of Supermicro. “As we increase the density, efficiency, performance and functionality across our hybrid computing platforms such as TwinPro, FatTwin, SuperBlade and MicroBlade, we provide the HPC community the widest range of truly green, scalable and sustainable building block solutions optimized to meet the most challenging supercomputing applications while also protecting our environment.”

“Intel is re-architecting the future of High Performance Computing with the announcement of our end-to-end Intel® Omni Scale Fabric and our plans to integrate the fabric onto future Intel Xeon and Intel Xeon Phi processors,” said Barry Davis General Manager of High Performance Fabric Organization Technical Computing Group, at Intel. “With partners such as Supermicro integrating our latest technologies across a wide range of high performance computing platforms, engineering and scientific fields will benefit from the faster data transfers, reduced latencies and higher efficiency that this new fabric provides.”

Supermicro HPC systems feature the highest hybrid compute capacity in their class and are available in the industry’s widest selection of green computing platforms supporting dual Intel® Xeon® processor E5-2600 v2 with NVIDIA® Tesla® GPUs or Intel® Xeon Phi™ coprocessors. Notable supercomputing clusters featuring Supermicro green server solutions include the 2014 Green500 #1 ranked TSUBAME-KFC-GSIC Supercomputer at Tokyo Institute of Technology. With 1U SuperServers (SYS-1027GR-TQF) supporting 4x NVIDIA® Tesla® K20X GPU Accelerators submerged in Green Revolution Cooling CarnotJet™ liquid cooled tanks this cluster achieved a world record breaking performance/power efficiency of 4.5 GFLOPS per watt. In addition, the upcoming 2,000 node Vienna Scientific Cluster (VSC-3) featuring Supermicro’s Data Center Optimized X9DRD-iF motherboards with dual Intel® Xeon® processor E5-2650 v2 submerged in GRC CarnotJet™ racks will maximize computational performance per watt for Austrian universities.

Supermicro’s ISC’14 Exhibits include:

  • 1U NVMe/SAS3 SuperServer® (SYS-1027R-WC1NRT) – Dual Intel® Xeon® processor E5-2600 v2, up to 1TB ECC DDR3 1866MHz in 16x DIMMs, 1x PCI-E 3.0 (x16) FHHL slot, 10x hot-swap 2.5″ HDD/SSD bays (2x NVMe PCIe SSD/SATA3, 8x SAS3 12Gb/s), dual-port 10GBase-T, redundant 700W power supplies
  • 1U A+ Server (AS-1042G-TF) – Quad AMD Opteron™ 6300P (G34) processors, up to 1TB in 32 DIMMs, 1x PCI-E 2.0 (x16) LP slot, dual-port GbE, 3x 3.5″ hot-swap SATA HDD bays, 1400W high efficiency power supply
  • 2U TwinPro²™ (SYS- 2028TP-HC1R) – 4x nodes, dual Intel® Xeon® E5-2600 v3 “Haswell” (Static Demo), up to 1TB in 16x DIMMs, onboard Infiniband 40GbE FDR or dual 10GBase-T, mSATA and SATA-DOM with SuperCap support, 1x PCI-E 3.0 (x16) LP slot, 2.5″ LSI3308 SAS3 12Gb/s or 3.5″ SAS/SATA hot-swap HDD/SSD bay configurations and redundant Titanium Level high-efficiency (96%+) digital power supplies.
  • 4U 8x NVIDIA® Tesla® GPU/Intel® Xeon Phi™ DP SuperServer® (SYS-4027GR-TRT) – Dual Intel® Xeon® processor E5-2600 v2, up to 1.5TB ECC DDR3 1866MHz in 24x DIMMs, up to 48x hot-swap 2.5″ SAS2/SATA3 HDD/SSD bays, dual-port 10GBase-T and redundant Platinum Level high-efficiency (95%+) digital power supplies.
  • 4U 12x NVIDIA® Tesla® GPU/Intel® Xeon Phi™ 4-Node FatTwin™ (SYS-F627G3-FTPT+) – Each node supports dual Intel® Xeon® processor E5-2600 v2, up to 1TB ECC DDR3 1866MHz in 16x DIMMs, 3x PCI-E 3.0 (x16) double-width slots, 2x PCI-E 3.0 (x8) slots, front I/O dual-port 10GBase-T, 2x 3.5″ hot-swap SATA HDD bays and redundant Platinum Level (1620W) high-efficiency digital power supplies.
  • 6U MicroBlade – Ultra low power, extreme density microserver featuring 112x Intel® Atom™ C2750 (8-core, 2.4GHz) nodes, 4x SDN enabled Ethernet switch modules with 2x 40Gb/s QSFP or 8x 10Gb/s SFP+ uplinks and 56x 2.5Gb/s downlinks, up to 99% cable reduction and 8x (N+1 or N+N redundant) 1600W Platinum Level high-efficiency (95%+) digital power supplies.
  • 7U SuperBlade® – TwinBlade® (SBI-7227R-T2) 2x nodes each supporting dual Intel® Xeon® E5-2600 v2 processors, 4-Way Processor Blade (SBI-7147R-S4F_FDR 56G / SBI-7147R-S4X_10GbE) supporting quad Intel® Xeon® processor E5-4600 v2, GPU Blades (SBI-7127RG-ESBI-7127RG3) supporting dual Intel® Xeon® processor E5-2600 v2, 2x NVIDIA® Tesla® GPU/Intel® Xeon Phi™ and 3x NVIDIA® Tesla® (SXM) GPU/Intel® Xeon Phi™, for up to 180x GPUs in 42U racks.

Visit Supermicro at ISC ’14 in Leipzig, GermanyJune 23rd through the 26th at the Congress Center Leipzig (CCL), Booth #430.

For complete information on Supermicro® solutions visit www.supermicro.com.

Follow Supermicro on Facebook and Twitter to receive their latest news and announcements.

About Super Micro Computer, Inc.
Supermicro® (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro is committed to protecting the environment through its “We Keep IT Green®” initiative and provides customers with the most energy-efficient, environmentally-friendly solutions available on the market.

Supermicro, Building Block Solutions and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.

All other brands, names and trademarks are the property of their respective owners.

Media Contact
David Okada
Super Micro Computer, Inc.
davido@supermicro.com

Photo – http://photos.prnewswire.com/prnh/20140621/119809

Source: Super Micro Computer, Inc.

Related stocks: NASDAQ-NMS:SMCI

Written by asiafreshnews

June 25, 2014 at 10:44 am

Posted in Uncategorized

Launch of World’s First Global Private Cloud Network Kick Starts the Internet Privacy Revolution

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Milestone in Privacy Movement Finally Shifts Balance of Digital Power & Revenue to Consumers

LONDON, June 24, 2014 /PRNewswire/ — Respect Network has launched public registration for the world’s first global network for trusted private data sharing today in London City Hall in a move that is set to restore privacy on the Internet. Over 70 founding partners from London to Tel Aviv and from Seattle to Sydney have joined the effort, bringing significant scale and expertise to the development of this new network.

Respect Network CEO Drummond Reed explains, “Protection of our digital life is the civil rights issue of our time. Being able to choose what happens with our private information on the Internet is something we should all have the right to do — for our sakes, and for the sake of future generations. Now is the time to act.”

“Respect Network takes a fundamentally different approach to ownership and use of information than existing social networks and cloud providers. It puts control back into the hands of individuals and not only gives them the choice of how their information is used, but compensates them for their value. No longer are people unwittingly the product. For GBP 17 / $25 (USD) consumers can purchase a lifetime membership and receive their own lifetime cloud, safe in the knowledge that their digital rights are back in their control.”

The goal of the Respect Network First Million Member Campaign is to raise USD $25 million to grow the network. Of this, USD $8 million will go towards a Development Grant Program to fund development of new applications and service for the network. Said Mr. Reed, “It’s a global ‘cloudfunding’ that enables people to invest directly in the future of Internet privacy — and reap the reward of starting to capture the value of their personal data and relationships.”

As part of their membership, every individual member receives a lifetime “cloud name” that begins with an equals sign, e.g. =your.name. This is a fully portable, private digital address for life. “Cloud names will become the symbol of this shift towards privacy and personal control on the Internet,” said Mr. Reed.

By following international principles of Privacy by Design, the Respect Network turns the existing centralised social network model upside down. Instead, every person or business on the network has their own private cloud from the provider of their choice. All sharing is over private peer-to-peer connections between members — there is no middleman. This allows individuals and businesses anywhere in the world to share private data as easily as they can share public data on Google, Facebook and other cloud providers, but with the assurance that their privacy will always be respected.

The Respect Network has been in development for over three years by leading Internet architects and founding partner companies including Neustar, the first real-time provider of cloud-based information services and data analytics. Other UK-based founding partners include: Allfiled, Ctrl-Shift, CitizenMe, Digital Animal, miiCard, mydex, MyProfessionalID, Paoga, Social Safe, SmarterComplaints and The Customers’ Voice.

Further events are planned in San Francisco 30 June – 1 July, Sydney 7-8 July, Tel Aviv 15-16 July and Berlin 21-22 July.

ATTENDANCE IS BY INVITATION. MEDIA AND INDUSTRY MEMBERS ARE INVITED TO REGISTER THEIR INTEREST HERE.

For media enquiries, please contact Rosa Smith at rosa@humanemail.com.au or +61 (2) 9934 5415 OR Clare Waller on clareW@humanemail.com.au or + 61(2) 9934 5403.

About Respect Network

Founded in 2011 and now a coalition of 71 Founding Partners, the Respect Network is the world’s first global network for trusted private data sharing. It enables people and businesses to share sensitive private data like medical records, financial records, insurance records, and family records just as easily as they can share data publicly on social networks like Facebook, Twitter, LinkedIn and Google+ today. Visit www.respectnetwork.comand info.respectnetwork.com.

Source: Respect Network

Written by asiafreshnews

June 25, 2014 at 10:24 am

Posted in Uncategorized