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Archive for July 21st, 2015

K-Safety Expo 2015 to be Held at KINTEX in November 2015

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SEOUL, South Korea /PRNewswire/ — The Ministry of Public Safety and Security (MPSS), a newly established governmental body of the Republic of Korea, is scheduled to hold the Korea International Safety & Security Expo 2015 (K-Safety Expo 2015) at the Korea International Exhibition Center (KINTEX) from 26-28 November in an attempt to build a successful safety eco-system in which related corporations and organizations can thrive further.

With the firm and resolute slogan “Safe Country, Happy People”, this new and comprehensive exhibition mainly aims to improve the national awareness of safety, as well as to foster the safety and security industries.

More than 300 related companies will fill the exhibition hall of approximately 22,000 sqm with diverse safety and security items. The exhibition comprises several sub-sectors such as the industry zone, the living zone, the new-tech zone, and the employment zone.

What distinguishes this trade show from many other safety or security events is that this event has been actively driven by the Korean government since the official announcement of the show. Figures reflecting the scale of governmental investment in the safety industry proves that participation of related corporations is a rational decision. The Korean government made a bold decision to increase the investment in safety and security to USD1.9 billion, a 29.3% rise compared to the previous year. In addition, this event is sure to make all the government officials and employees in related public organizations assemble in one place.

With comprehensive G2B and B2B services, K-Safety Expo 2015 will undoubtedly offer a mature marketplace and superb business opportunity for companies in the safety and security industry.

Various unit events, including disaster-relief demonstration using drones and fire fighting robots, are fully ready to provide a firm springboard for related companies. In addition, academic seminars and conferences on safety law and future safety development will be held to encourage a more business-friendly environment for the safety and security industry.

If you are one of those who is interested in participating in the K-Safety Expo 2015, please visit www.k-safetyexpo.com or contact K-Safety Expo 2015 Secretariat (KINTEX) at ksafetyexpo@kintex.com.

Media Contact:

Jay Yoon
+82-31-995-8044
jmy822@kintex.com

Source: KINTEX

Written by asiafreshnews

July 21, 2015 at 4:46 pm

Posted in Uncategorized

GLP Establishes US$7 Billion CLF II

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-GLP China is the manager and holds 56% stake in CLF II
-China is GLP’s primary market for development, with development starts growing at 30% per annum
-Fund management platform enables GLP to leverage 3rd party capital to expand network while increasing GLP’s returns and reducing risk
-GLP’s fund management platform increases 36% to US$27.1 billion
-CLF II expected to commence new construction of developments in April 2016

SHANGHAI /PRNewswire/ — GLP, the leading global provider of modern logistics facilities, today announced the establishment of the largest China-focused logistics infrastructure fund, CLF II (“the Fund”). Seven leading global institutions, including some of the world’s largest national pension and sovereign wealth funds, are investing alongside GLP to develop modern logistics facilities in China. US$3.7 billion of equity has been committed to the Fund by GLP and investors, with leverage allowing for an investment capacity of US$7 billion to develop 13 million square meters (“sqm”) (140 million square feet (“sq ft”)) over four years. GLP China is the manager and holds a 56% stake in CLF II.

China is GLP’s primary market for development with development starts growing at 30% per annum. CLF II is more than double the size of CLF I (US$3 billion) given the size of the market opportunity and strong demand from investors. The offering was significantly oversubscribed and provides long-term capital that enables GLP to strengthen its network effect, better serve customers and de-risk its development pipeline. Fees and promotes earned on partners’ capital enhance GLP’s returns by 400-500 basis points[1].

Mr. Ming Z. Mei, Chief Executive Officer of GLP said, “Building on the strong performance of CLF I, the successful closing of CLF II reflects the confidence of institutional investors in GLP’s proven track record as an operator, developer and fund manager. China remains our primary market for development. The fund management platform is an important source of capital for GLP and we remain focused on leveraging it to scale our business effectively while driving higher risk-adjusted returns.”

CLF II will be GLP’s exclusive vehicle for new, wholly owned logistics development projects in China. The Fund expects to start acquiring land later this year and commence construction of new developments in April 2016. CLF II carries a similar investment mandate as CLF I, GLP’s first China development fund which was launched inNovember 2013 and has reached its investment capacity.

Both CLF I and CLF II seek to capture the significant opportunities arising from the shortage of modern logistics infrastructure in China. Demand for modern warehouse facilities is driven by growing domestic consumption, urbanization and the growth in e-commerce. GLP has a strong track record of developing in China. Its portfolio has grown at a 61% compound annual growth rate over the last decade, and today encompasses 11.8 million sqm (127 million sq ft) of completed facilities. This transaction will build upon the company’s market-leading position, with on-the-ground execution by one of the best teams in the industry.

With CLF II, GLP’s fund management platform expands 36% to US$27.1 billion. Five of the Fund investors are fromAsia, one from North America and one from the Middle East. Of the seven, four investors are partners in CLF I and two are new to GLP’s fund management platform. GLP’s fund management platform is scalable and has grown at an annual rate of 95% since FY12.

M3 Capital Partners (HK) Limited served as exclusive financial advisor to GLP in connection with the formation of the Fund.

[1] Potential fees and promotes based on the AUM and fee structure of GLP’s existing development funds. Promotes assume all requisite triggers are satisfied and not discounted. No assurance can be provided that these assumptions may materialize.

About GLP (www.glprop.com)

GLP is a leading global provider of modern logistics facilities. As of 31 March 2015, GLP’s US$28 billion property portfolio encompasses 41 million square meters (441 million square feet) of logistics facilities across China, Japan,Brazil and the United States.

GLP remains focused on being the best operator in each of its markets, creating value through developments and expanding its fund management platform. GLP’s customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.

The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

GLP Investor Relations & Media Contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com

## END ##

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” “intends,” “foresees,” “estimates,” “projects,” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct.

Source: Global Logistic Properties

Related stocks: OTC-PINK:GBTZY Singapore:MC0

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Written by asiafreshnews

July 21, 2015 at 4:09 pm

Posted in Uncategorized

Schindler Awarded the Largest Elevator and Escalator Project in Myanmar

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YANGON, Myanmar /PRNewswire/ — Schindler, a leading global provider of elevators, escalators and related services, will supply a total of 79 elevators and 24 escalators to the Times City development located in the heart of Yangon, Myanmar.

Schindler will supply 103 elevators & escalators to Times City development at the heart of Yangon
Schindler will supply 103 elevators & escalators to Times City development at the heart of Yangon

Scheduled for completion by 2017, Times City is a mixed-use development that comprises office and residential towers, a luxury hotel and retail shop houses. Located in the prime Hanthawaddy roundabout locality, the Times City project will introduce modern living facilities, premium office spaces, comprehensive retail options and a 5-star hotel, all in one development.

Schindler worked closely with the project team of the developer, Crown Advance Construction Co. Ltd. from the early stages of building design since 2013. Schindler provided developers, architects and consultants with highly efficient building transportation solutions, including state-of-the-art Schindler 5500 machine-room-less elevators which run at speeds of 3 m/s, achieving the utmost building traffic efficiency in accordance to the most stringent international standards.

Schindler will deliver 79 elevators and 24 escalators, including 41 Schindler 3300AP elevators and 38 Schindler 5500 elevators. In addition, Schindler’s Lobby Vision, a building management tool that allows single-point supervision of multiple active systems will monitor elevators and escalators in the office towers and hotel tower.

“We are very proud and excited to supply Schindler equipment to Times City, which is the largest elevator & escalator project ever awarded in Myanmar,” said Mr. Willis Phua, the General Manager of Myanmar Jardine Schindler. “Our tradition in delivering excellent customer service and premium quality won us this landmark project.”

About Myanmar Jardine Schindler

Myanmar Jardine Schindler is the Myanmar operation of the Switzerland-based Schindler Group, a leading global provider of elevators and escalators with 54,000 employees operating in more than 100 countries.

Myanmar Jardine Schindler was established in 1999 as a pioneer in the elevator and escalator industry in Myanmar. It is the only market player to operate directly without the use of agents and distributors. Myanmar Jardine Schindleris headquartered in Yangon, with two branches in Naypyitaw and Mandalay, designs, engineers, installs, maintains and modernises all types of elevators, escalators and moving walkways for low-rise residential and commercial buildings to high-rise towers stretching up to half a kilometre into the sky.

Photo – http://photos.prnasia.com/prnh/20150717/8521504438
Logo – http://photos.prnasia.com/prnh/20141111/8521406714LOGO

Source: Jardine Schindler Group

Written by asiafreshnews

July 21, 2015 at 3:38 pm

Posted in Uncategorized

BEST Funds Announces $3 Million Investment Into GroupBy Inc.

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— Toronto-based private equity/venture capital firm confirms debt deal with award-winning Ecommerce Technology Company

TORONTO/PRNewswire/ — Tier One Capital LP and B.E.S.T. Active 365 Fund LP, collectively known as BEST Funds, has announced a $3 million investment into GroupBy Inc., a leading ecommerce technology innovator located in Toronto, Ontario. The capital will allow GroupBy to accelerate their sales growth and expand research and development efforts in ground-breaking technologies for the B2C and B2B ecommerce market.

This is an exciting partnership for BEST Funds, who provides Canada’s fastest growing companies with the capital needed to accelerate their growth and become industry leaders. BEST Funds’ President John Richardson stated, “GroupBy is poised to become a market leader in the ecommerce space and is the type of company that can do great things with our assistance. We are confident that with our capital, and their unique cloud offering and ecommerce pedigree, GroupBy will continue to grow at an extraordinary pace.”

Regarding the partnership, Roland Gossage, Managing Director & CEO of GroupBy Inc. said, “The team here at GroupBy has used their many years of industry experience and technical prowess to create a platform that will change the way our clients interact with their clients online, we aim to create a fundamentally better user experience, by showing the right product, to the right user, at just the right moment. Creating a concrete return on investment and helping to drive our customers bottom lines.”

About BEST Funds
BEST Funds is a leading Private Equity/Venture Capital firm that focuses on funding rapidly growing Canadian companies by providing them with the capital needed to execute their growth strategies and fully develop their Intellectual Property. Primarily focused on companies with recurring revenue streams in the technology, healthcare and financial services industry, BEST Funds is actively deploying capital to some of Canada’s fastest growing companies. BEST Funds was established in 1996 in Toronto and works with companies across Canada.
For more information, visit: www.bestfunds.ca

About GroupBy Inc.
GroupBy Inc. provides powerful commerce, media, and knowledge management software solutions that help companies better connect with their customers by creating a more relevant user experience. This improved experience drives more targeted site traffic, increases revenue, and boosts overall customer satisfaction. GroupBy’s solutions provide industry-leading features for search, navigation, merchandising, search engine optimization (SEO), and search as you type (SAYT). Their e-commerce solution, Searchandiser powers many of the world’s top retailers’ online experiences. GroupBy has offices in Canada, United States, China, and Trinidad & Tobago.

For more information about GroupBy, visit www.groupbyinc.com or call +1-855-210-6513

Source: GroupBy Inc.

Written by asiafreshnews

July 21, 2015 at 3:24 pm

Posted in Uncategorized

Leading Hedge Funds in Asia Adopt Broadridge’s Trading, Portfolio Management and Operating Solution

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— BosValen Asset Management and Pleiad Investment Advisors deploy Broadridge’s investment management platform

HONG KONG/PRNewswire/ — Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that BosValen Asset Management and Pleiad Investment Advisors have adopted Broadridge’s all-inclusive trading, portfolio management and operating platform.

Over the last two years, a majority of Bloomberg star-rated emerging Asian funds have adopted Broadridge’s solution, leveraging its strong local support model which now supports more than 50 clients in the region. Both BosValen Asset Management and Pleiad Investment Advisors are among Asia’s fastest-growing emerging funds, each raising hundreds of millions of dollars within a few months of launching.

Broadridge’s integrated solution features order management, portfolio accounting, compliance, a central data warehouse, shadow NAV generation, a mobility feature and performance management capabilities. It includes real-time reporting capabilities and covers a very broad range of asset classes. A cross-asset risk management system is also available as part of the platform.

“As a recent new launch in Asia, the competitive landscape to attract day-one capital means you must launch with institutional infrastructure, in addition to having a solid team and product,” said Katherine Quinn, chief operating officer of BosValen Asset Management. “I was searching for a front-to-back office system that was robust, intuitive and most importantly scalable and flexible to evolve with our business. The Broadridge solution met these criteria as well as having expert locally-based support.”

“Broadridge offers a robust set of functions that we need through a single platform, while also reducing operational risk and increasing cost efficiency,” said Masaki Taniguchi, partner and chief operating officer at Pleiad Investment Advisors.

“As competition in the Asia-Pacific market increases, emerging and established managers and family offices that are best positioned for growth and differentiation have recognized the importance of a single technology platform from the outset,” said Bennett Egeth, president, Broadridge Investment Management Solutions. “Our success inAsia comes from more than just a strong technology offering— it is also due to our mature local hosting and support model, which is a strong differentiator. The solution allows asset managers to institutionalize their business, streamline operations and focus on what’s most important – generating alpha and raising capital.”

“Financial institutions in Asia require a reliable, flexible technology solution that meets their core operational challenges while helping to drive better decision-making across the firm,” said Askin Leung, director, Asia, Broadridge Investment Management Solutions. “BosValen and Pleiad are two great examples of successful Asia-based funds that are using technology to gain operational efficiency.”

Broadridge has been offering leading solutions across the Asia-Pacific region for more than two decades and currently has more than 2,100 associates throughout Asia-Pacific. It provides technology-driven solutions for financial services firms across the buy-side and sell-side, including asset managers, hedge funds, broker-dealers, banks and mutual funds. It also provides global investor communications services, such as proxy and regulatory communications, tax services and client and marketing communications, to a range of corporate issuer clients.

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,700 full-time associates in 14 countries. For more information about Broadridge, please visit www.broadridge.com.

Media Contacts:

Kate McGann

Peggy Wu        

Broadridge 

Ryan Communication

+1-212-981-1395 

+852-3655-0517

katherine.mcgann@broadridge.com  

peggy@ryancommunication.com

Logo – http://photos.prnewswire.com/prnh/20110920/MM71626LOGO

Source: Broadridge Financial Solutions, Inc.

Related stocks: NYSE:BR

Related Links:

Written by asiafreshnews

July 21, 2015 at 3:01 pm

Posted in Uncategorized

SunEdison and TerraForm Power Announce Definitive Agreement to Acquire Vivint Solar for $2.2 Billion

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— SunEdison to acquire Vivint Solar, to drop down 523 MW rooftop solar portfolio to TerraForm Power
— Accelerates SunEdison’s expansion to become the leading global residential and commercial solar provider
— TerraForm Power to acquire 523 MW rooftop solar portfolio with expected unlevered annual CAFD of $81 million, generating attractive 9.5% 10-year average levered cash-on-cash yield
— Rooftop solar portfolio offers attractive CAFD profile and predictable drop down flow
— SunEdison initiates 2016 guidance of 4,200 MW to 4,500 MW delivered, a 50 percent year-on-year increase over previous 2016 outlook of 2,800 MW to 3,000 MW
— TerraForm Power raises 2016 DPS guidance from $1.70 to $1.75 and initiates 2017 guidance of $2.05, up from previous target of $2.00

MARYLAND HEIGHTS, Miss., LEHI, Utah and BETHESDA, Md., /PRNewswire/ — SunEdison, Inc. (NYSE: SUNE), the world’s largest renewable energy development company, Vivint Solar (NYSE: VSLR), a leading provider of residential solar systems in the United States, and TerraForm Power, Inc. (together with its subsidiaries, TerraForm Power) (Nasdaq: TERP), an owner and operator of clean energy power plants, today announced that SunEdison and Vivint Solar have signed a definitive merger agreement pursuant to which SunEdison will acquire Vivint Solar for approximately $2.2 billion, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes.

In connection with SunEdison’s proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of  TerraForm Power which, concurrently with the completion of SunEdison’s acquisition of Vivint Solar, will acquire  Vivint Solar’s rooftop solar portfolio, consisting of 523 megawatts (MW) expected to be installed by year-end 2015, for $922 million in cash (TERP Purchase Agreement).  The 523 MW of residential solar projects are expected to provide a 10 year average unlevered CAFD of $81 million, and provide a ten-year average levered cash-on-cash yield of 9.5 percent.

In addition, TerraForm Power will acquire future completed residential and small commercial projects from SunEdison’s expanded residential and small commercial (RSC) business unit.  The addition of residential and small commercial projects and cash available for distribution (CAFD) to TerraForm Power is expected to provide greater visibility and predictability to CAFD growth and dividend per share accretion at TerraForm Power.  The rooftop solar portfolio is expected to add a growing, high-quality, long-term contracted and geographically diverse asset base to the SunEdison family of companies, strengthening one of the largest and highest-growth global renewable power platforms in the world.

The Vivint Solar management team will join SunEdison.  SunEdison’s existing RSC development business and the Vivint Solar team will be merged.  The transaction expands SunEdison’s strong RSC platform and is intended to accelerate SunEdison’s existing business in the United States, United Kingdom and Australia.

Platform Expansion Continues with Strong Execution

“SunEdison’s acquisition of Vivint Solar is a logical next step in the transformation of our platform after the successful execution of our First Wind acquisition in January 2015,” said Ahmad Chatila, SunEdison chief executive officer and TerraForm Power chairman. “We expect the Vivint Solar transaction to create significant value for our stockholders through the accretion in our TerraForm Power ownership, the acceleration of our Incentive Distribution Rights and an immediate expansion of our capacity and bandwidth to grow our residential business in the U.S. and globally. As of the fourth quarter of 2015, our organic growth and recent acquisitions will put SunEdison on track to deploy more than 1 gigawatt per quarter.”

“This transaction with SunEdison delivers to Vivint Solar’s stockholders excellent value for the business we have built over the last four years,” said Greg Butterfield, Vivint Solar’s chief executive officer. “SunEdison and TerraForm Power have built a unique model that recognizes the value of long-term, predictable, contracted cash flows from our residential solar portfolio while providing access to a broad pool of financing at an attractive cost of capital.  We are excited to join the SunEdison residential and small commercial team which has successfully developed a wide range of channels complementing those at Vivint Solar, both in the U.S. and globally.”

“TerraForm Power is excited to expand our residential solar portfolio with the acquisition of Vivint Solar assets, including 523 MW, which will accelerate our growth in this segment,” said Carlos Domenech, TerraForm Power’s chief executive officer.  “Vivint Solar’s profile of cash available for distribution is attractive and aligned with TerraForm’s growth profile, and the team has proven its ability to scale rapidly and successfully.  With immediate accretion to our stockholders at initial drop down and the predictable flow of drop down assets into the future, we see this acquisition as creating substantial value for our stockholders.”

“We are pleased by the tremendous success of Vivint Solar, which the exceptional management team has built into one of the leading providers of distributed solar energy in the United States in just four years,” said Peter Wallace, Vivint Solar’s board chairman and Blackstone’s senior managing director.  “It is a testament to the strength of the Vivint platform, enabling customers to live life more intelligently.  We believe this transaction positions the company’s asset portfolio for accelerated future growth as part of SunEdison and TerraForm Power.  We look forward to participating in its future success as a significant investor in SunEdison going forward.”

SunEdison Initiates 2016 Guidance

Concurrent with today’s announcement, SunEdison initiated 2016 annual guidance of 4,200 MW to 4,500 MW, a 50 percent increase from its prior outlook of 2,800 MW to 3,000 MW.

TerraForm Power Raising 2016 Guidance and Initiating 2017 Guidance

Concurrent with today’s announcement, TerraForm Power is raising its prior 2016 dividend per share guidance of$1.70 to $1.75, a 30 percent year-over-year increase compared to 2015 annual guidance. TerraForm Power is also initiating 2017 dividend per share guidance of $2.05, up from its prior target of $2.00.

Terms of Transaction and Financing

Under the merger agreement, Vivint Solar stockholders will receive $16.50 per share, consisting of $9.89 per share in cash, $3.31 per share in SunEdison stock, and $3.30 per share in SunEdison convertible notes.  The $2.2 billionacquisition price is based on approximately 115 million Vivint Solar shares outstanding after inclusion of employee stock options and restricted stock units that will vest upon the completion of the acquisition, the repayment of approximately $263 million of Vivint Solar debt and the payment of transaction costs.  SunEdison expects that Vivint Solar will have approximately $100 million of cash on its balance sheet at the time of closing.  SunEdison expects to issue approximately $370 million of its common stock and approximately $350 million of SunEdison convertible notes to Vivint Solar stockholders as merger consideration.

The number of SunEdison shares to be received by Vivint Solar stockholders in the merger will be determined based upon the volume weighted average price per share of SunEdison common stock for the 30 consecutive trading days ending on (and including) the third trading day immediately prior to completion of the merger (the “Measurement Price”), subject to a collar.  As a result of the collar, Vivint Solar stockholders will receive no more than 0.120 shares of SunEdison common stock and no less than 0.098 shares for each of their Vivint Solar shares.  As part of the merger consideration, Vivint stockholders also will receive five-year notes convertible into SunEdison shares, which will be issued by SunEdison pursuant to an Indenture between SunEdison and a trustee.  The convertible notes will be issuable only in registered form without coupons and will be direct, unsecured, senior obligations of SunEdison.  The conversion price for these convertible notes will be 140 percent of the Measurement Price (but the Measurement Price may not exceed $33.62 or be lower than $27.51).  The convertible notes will bear interest at a rate of 2.25% per year, payable semiannually in arrears in cash.

The merger requires the approval of Vivint Solar stockholders.  313 Acquisition LLC, which owns approximately 77 percent of the outstanding Vivint Solar shares, has entered into a voting agreement with SunEdison pursuant to which 313 Acquisition LLC has agreed, among other things, to vote in favor of the adoption of the merger agreement, subject to certain termination events, including, among others, termination of the merger agreement.  In addition, 313 Acquisition LLC has also executed a lock-up agreement that imposes certain restrictions on its ability to sell or transfer directly or indirectly, any of the SunEdison convertible notes issued to it in the merger or any SunEdison common stock that is received upon a conversion of the SunEdison convertible notes for a specified period of time following the closing of the transaction.

The merger is subject to the notification and reporting requirements under the Hart-Scott-Rodino Act, registration under the Securities Act of 1933 of the SunEdison common stock and convertible notes to be received by Vivint Solar stockholders in the merger, and the satisfaction of other customary closing conditions.  The transaction is expected to close in the fourth quarter of 2015.

SunEdison intends to fund the cash portion of the merger consideration primarily from the proceeds of a new $500 million secured debt facility and the completion of the $922 million sale of assets to TerraForm Power.  However, completion of the merger with Vivint Solar is not conditioned on consummation of the new debt facility or of any other third-party financing or the completion of the asset purchase by TerraForm Power. If SunEdison were unable to obtain the funding needed to complete the merger at a time when all other conditions to the merger are satisfied, SunEdison could be liable for breach and be subject to customary remedies, including contract damages.

To support the merger transaction, SunEdison has entered into a commitment letter with Goldman Sachs Bank USAfor a $500 million secured term loan facility to be provided to a wholly-owned, indirect subsidiary of SunEdison which will hold certain development assets of the expanded SunEdison RSC platform after the merger with Vivint Solar.  The funding of the term facility is subject to customary conditions, including the negotiation of definitive documentation and other customary closing conditions.

TerraForm Power has entered into a debt commitment letter with Goldman Sachs Bank USA for a $960 millionunsecured bridge facility. The funding of the bridge facility is subject to the negotiation of definitive documentation and other customary closing conditions.  The TERP Purchase Agreement is not conditioned on TerraForm Power’s receipt of the new unsecured bridge facility or any other third-party financing.

Advisors

BofA Merrill Lynch acted as lead financial advisor to SunEdison in connection with this transaction.  Goldman Sachs acted as co-financial advisor to SunEdison and provided committed financing to SunEdison and TerraForm Power in connection with this transaction. Goldman Sachs is also acting as lead structuring agent for financings related to this transaction.  Barclays and Citibank NA acted as joint financial advisors to TerraForm Power.  Morgan Stanley & Co. LLC acted as exclusive sell-side financial advisor to Vivint Solar.  Kirkland & Ellis LLP acted as M&A counsel for SunEdison and TerraForm Power.  Skadden, Arps, Slate, Meagher & Flom LLP acted as finance counsel to SunEdison and TerraForm Power.  Lazard and Cleary Gottlieb Steen & Hamilton LLP acted as financial and legal advisor, respectively, to the Corporate Governance and Conflicts Committee of TerraForm Power.  Wilson Sonsini Goodrich & Rosati P.C. acted as counsel to Vivint Solar.

Conference Call and Webcast

SunEdison, Vivint Solar and TerraForm Power will discuss the transaction on a conference call scheduled for 8:30 a.m. EDT Monday, July 20.

The call-in number in the U.S. and Canada is +1-800-230-1074, and the international call-in number is +1-612-234-9959. Media representatives are invited to participate on a listen-only basis.

Telephone replays will be available starting two hours after the call ends. The U.S. and Canada number for replays is +1-800-475-6701, and the international number is +1-320-365-3844. The conference access code is 365132.

The call will be webcast and archived on SunEdison’s, Vivint Solar’s and TerraForm Power’s investor websites:investors.sunedison.com, investors.vivintsolar.com, ir.terraform.com. The webcast will be archived and available for replay two hours after the conference call ends.

About SunEdison

SunEdison is the world’s largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world’s largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are inthe United States with additional offices and technology manufacturing around the world. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.” To learn more visitwww.sunedison.com.

About Vivint Solar

Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer’s location – to residential, commercial and industrial customers in the United States. Vivint Solar’s customers pay little to no money upfront, receive significant savings relative to utility generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors and services the solar energy systems to make things easy for its customers. For more information, visit www.vivintsolar.com or follow @VivintSolar.

About TerraForm Power

TerraForm Power is a renewable energy leader that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit www.terraform.com.

Forward Looking Statement

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including with respect to the timing of the completion of the acquisitions, expected cash available for distribution (CAFD), earnings, future growth and financial performance (including future dividends per share) and the ability to finance aspects of the acquisition, and typically can be identified by the use of words such as “expect,” “estimate,” “anticipate,” “forecast,” “intend,” “project,” “target,” “plan,” “believe” and similar terms and expressions. Forward-looking statements are based on current expectations and assumptions. Although SunEdison and TerraForm Power believe that their expectations and assumptions are reasonable, they can give no assurance that these expectations and assumptions will prove to have been correct, and actual results may vary materially. For example, (1) Vivint Solar may be unable to obtain the stockholder approval required for the merger; (2) the companies may be unable to obtain regulatory approvals required for the merger, or required regulatory approvals may delay the merger or result in the imposition of conditions that could have a material adverse effect on the combined company or cause the companies to abandon the merger; (3) conditions to the closing of the merger may not be satisfied; (4) an unsolicited offer of another company to acquire assets or capital stock of Vivint Solar could interfere with the merger; (5) SunEdison may be unable to obtain the financing for which it has received commitments or to complete the sale of assets contemplated by the TERP Purchase Agreement; (6) problems may arise in integration, which may result in less effective or efficient operations ; (7) the merger may involve unexpected costs, unexpected liabilities or unexpected delays, or the effects of purchase accounting may be different from the companies’ expectations; (8) the credit ratings of the combined company or its subsidiaries may be different from what SunEdison and TerraForm Power expect; (9) the businesses of the companies may suffer as a result of uncertainty surrounding the merger and the related transactions; (10) the industry may be subject to future regulatory or legislative actions that could adversely affect the companies; and (11) the companies may be adversely affected by other economic, business, and/or competitive factors. Additional factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, among others: the failure of counterparties to fulfill their obligations under the agreements; price fluctuations, termination provisions and buyout provisions in the agreements; TerraForm Power’s ability to successfully identify, evaluate and consummate acquisitions from SunEdison, Inc. or third parties; government regulation; operating and financial restrictions under agreements governing indebtedness; SunEdison and TerraForm’s ability to borrow funds and access capital markets; SunEdison and TerraForm Power’s ability to compete against traditional and renewable energy companies; and hazards customary to the power production industry and power generation operations, such as unusual weather conditions and outages. Furthermore, any future dividends are subject to available capital, market conditions and compliance with associated laws and regulations.

SunEdison and TerraForm Power undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Expected cash available for distribution is an estimate as of today’s date, July 20, 2015, and are based on assumptions believed to be reasonable as of this date. SunEdison and TerraForm Power expressly disclaims any current intention to update such guidance. The foregoing review of factors that could cause SunEdison or TerraForm Power’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect future results included in the company’s filings with the Securities and Exchange Commission (“SEC”) at www.sec.gov. In addition, TerraForm Power makes available free of charge at www.terraform.com copies of materials it files with, or furnishes to, the SEC, and SunEdison makes available free of charge at www.sunedison.com copies of materials it files with, or furnishes to, the SEC.

Additional Information and Where to Find It

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  The proposed merger transaction between SunEdison and Vivint Solar will be submitted to the stockholders of Vivint Solar for their consideration.  SunEdison intends to file with the SEC a registration statement on Form S-4 that will include a prospectus of SunEdison and a proxy statement of Vivint Solar, and Vivint Solar intends to file with the SEC a definitive proxy statement on Schedule 14A.  SunEdison and Vivint Solar also plan to file other relevant documents with the SEC regarding the proposed transaction.  INVESTORS AND SECURITY HOLDERS OF VIVINT SOLAR ARE URGED TO READ THE PROXY STATEMENT, PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT SUNEDISON, VIVINT SOLAR AND THE PROPOSED TRANSACTION.  Investors and security holders will be able to obtain these materials (when they are available) and other documents filed with the SEC free of charge at the SEC’s website, www.sec.gov.  Copies of documents filed with the SEC by SunEdison (when they become available) may be obtained free of charge on SunEdison’s website at www.sunedison.com or by directing a written request to SunEdison, Inc., Investor Relations, 13736 Riverport Drive, Ste. 1800, Maryland Heights, MO 63043.  Copies of documents filed with the SEC by Vivint Solar (when they become available) may be obtained free of charge on Vivint Solar’s website at www.vivintsolar.com or by directing a written request to Vivint Solar, Inc., care of Vivint Solar Investor Relations, 3301 N Thanksgiving Way, Ste. 500, Lehi, UT, 84043

Investors and security holders may also read and copy any reports, statements and other information filed by SunEdison or Vivint Solar, with the SEC, at the SEC public reference room at 100 F Street, N.E., Washington, D.C.20549.  Please call the SEC at +1-800-SEC-0330 or visit the SEC’s website for further information on its public reference room.

Participants in the Merger Solicitation

SunEdison, Vivint Solar, and certain of their respective directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction.  Information regarding SunEdison’s directors and executive officers is available in its proxy statement filed with the SEC by the Company on April 17, 2015 in connection with its 2015 annual meeting of stockholders, and information regarding Vivint Solar’s directors and executive officers is available in its proxy statement filed with the SEC by Vivint Solar on April 20, 2015 in connection with its 2015 annual meeting of stockholders. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the prospectus and  proxy statement  and other relevant materials to be filed with the SEC when they become available.

Cash Available for Distribution (CAFD)

CAFD is a supplemental non-GAAP measure of TerraForm Power’s ability to earn and distribute cash to investors. This measurement is not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance, including net income, net cash provided by (used in) operating activities or any other liquidity measure determined in accordance with GAAP, nor is it indicative of funds available to fund our cash needs.

Logo – http://photos.prnewswire.com/prnh/20150203/173064LOGO
Logo – http://photos.prnewswire.com/prnh/20150331/195715LOGO

Source: SunEdison, Inc.
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Written by asiafreshnews

July 21, 2015 at 2:30 pm

Posted in Uncategorized

Asia Plantation Capital in Record Breaking CITES Approved Malaysian Agarwood Import

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SINGAPORE /PRNewswire/ — From its plantations in Thailand, to its state of the art factory and laboratory in Johor, Malaysia, Asia Plantation Capital recently completed a single CITES approved shipment of 5,000 kilogrammes of Agarwood (Oud) woodchips and powder for final processing.

Rural economies in both Thailand and Malaysia are benefiting from the growing demand for Agarwood trees grown on sustainable plantations that produce Oud — the world’s most expensive (per kg) forestry end product – whether it be in the form of a raw essential oil, aromatic woodchips, powder, or exquisite hand carved collection pieces.

Asia Plantation Capital’s Aquilaria trees, the source of sustainable Agarwood
Asia Plantation Capital’s Aquilaria trees, the source of sustainable Agarwood

Asia Plantation Capital is acknowledged as being one of the world’s leading plantation and forestry management companies, with an ever-increasing reach and a passionate commitment to the research and development of patented technologies that have helped reintroduce the endangered Aquilaria tree (from which Oud is extracted and from which woodchips are produced), to its natural habitat. In line with Asia Plantation Capital’s ethos of environmental responsibility, the company has been expanding across Asia in recent years, with sustainable Agarwood plantations under management in Thailand, Sri Lanka and Malaysia, as well as joint ventures in India,Laos, China and Myanmar. Asia Plantation Capital now offers the widest selection of Agarwood species and products to the international markets.

All Asia Plantation Capital’s Agarwood products can be certified as to source, as well as the date of planting, all relevant warranties, and the undertakings for replanting. Asia Plantation Capital is committed to planting at least one sapling for every tree harvested, making the cycle 100% sustainable.

“This first shipment to our new factory and distillation centre in Johor, Malaysia marks the start of a process that will see up to 25,000 kilogrammes per month passing through our Johor factory and distillation centre,” said Steve Watts, Asia Plantation Capital Berhad’s CEO. “We chose Johor for our first such state of the art facility due to its location – giving us easy access by rail, road and sea to all the major export markets. It also allows us to centralise our current Asia-wide production in one purpose-built facility, and is perfectly situated near major Agarwood trading markets such as Singapore and China, where we also have a joint venture factory with China’s largest Agarwood manufacturer, the Hua Lin Group.”

“In Johor we have an excellent combination of the already proven systems that we developed in Thailand andChina, overseen by key members of our management team from Dubai, headed up by Ahmed Awad,” Watts continued. “It’s fair to say that everybody now seems to know about Oud oil, due to its use in the international fragrance industry. Not everybody, however, realises that raw and enhanced perfumed woodchips make up the vast volume of the estimated nearly US$15 billion industry. We believe that very few companies in the market today focus on all end products that have such massive appeal and are in such high demand across all markets in the way that we do at Asia Plantation Capital.”

Ahmed Awad (extreme left), Asia Plantation Capital’s resident expert on infusing Agarwood chips and powder, explaining the nuances of different fragrance infused wood chips to visitors from France.
Ahmed Awad (extreme left), Asia Plantation Capital’s resident expert on infusing Agarwood chips and powder, explaining the nuances of different fragrance infused wood chips to visitors from France.

Asia Plantation Capital aims to secure its position as the premium sustainable and CITES certified products provider in the global market, and Ahmed and his team are already proving their commitment to this goal. They bring with them techniques to maximise quality and grow market share that have been handed down through generations in the Middle East — a reflection not only of the product value, but also its cultural and historical significance. Modern science also plays its part, with proprietorial technology constantly being researched and developed by the company’s Scientific Advisory Board, which is comprised of the industry’s leading authorities from Thailand, China, the Middle East and, most recently, India.

“Add to this the joint venture with Hua Lin in China,” Watts continued, “and we have leading experts on Oud products from the two largest single markets on the planet. It’s a depth of knowledge and expertise that is, quite simply, unrivalled in the industry.”

Any detailed analysis of the industry will show that Agarwood (Oud) products that are available in the ‘High Streets’ around the world come from a variety of countries and species. They all have their own unique characteristics that appeal to different markets, but it’s already clear that the proprietary systems APC has developed over the last seven years are proving their worth, with variety being a key component of the company’s philosophy along with its refusal to compromise on quality.

“Many people believe that it’s simply a case of planting a tree and waiting for it to grow,” said Steve Watts in closing. “At Asia Plantation Capital, however, we know that the successful combination of science and nature creates the winning formula to ensure that we produce the right products, from various sources, that satisfy all the requirements of the discerning end buyers.”

Through Asia Plantation Capital’s partner brand, Fragrance Du Bois, oils from its Thailand plantations are now found in its fine fragrances in Paris, New York, Dubai, Hong Kong, Singapore, Kuala Lumpur, Bangkok and London, as well as in Brunei, with plans already in place to expand into Germany, Switzerland and Saudi Arabia in the coming months. Other oils from Asia Plantation Capital — all sustainably produced — can also be found in well-known luxury brands around the world.

The 5,000 kgs currently being processed in Asia Plantation Capital’s new Johor factory is destined for export to retailers in the Gulf region, where the company also plans to build its second large-scale factory. The facility in theUnited Arab Emirates will enable end processing and production in the region, and will augment Asia Plantation Capital’s existing regional wholesale and retail business that was established in 2010.

Notes for Editors:

About Asia Plantation Capital

Quick facts:

  • US$ 600 million – combined value of assets owned and under management
  • US$ 53.5 million – turnover in the last financial year

Asia Plantation Capital is the owner and operator of a diverse range of commercial plantation and farming businesses across the Asia-Pacific region and around the world, and is part of the Asia Plantation Capital Group of associated companies. Its focus is on multicultural and diverse plantation projects geared to the domestic and commercial demands of the countries in which it operates. Working closely with, and supporting local communities, is an underlying core principle of the Asia Plantation Capital business, providing social and cultural support, as well as investment, to move these communities away from deforestation and illegal logging activities, previously seen as a main source of income in some regions of Asia. Established officially in 2008 (although operating privately since 2002) the group now has plantation and agricultural projects on four continents, with operational projects at various stages in Thailand, Malaysia, China, Laos, India, Cambodia, Sri Lanka, Myanmar, Vietnam, North America andEurope.

Promoting the use of sustainable and certified wood is the best way of preventing deforestation, protecting biodiversity, and combatting poverty in the tropical rainforest regions. For the yachting sector (a major user of teak) which strives for excellence and which is already involved in environmental efforts, this is also a way of ensuring that no wood from illegal logging is used.

About Fragrance Du Bois

Fragrance Du Bois is a niche luxury perfume house working closely with sustainable plantations in Asia, bringing exciting new 100% organic Oud oil based fragrances to exclusive markets worldwide. Sustainably sourcing the finest raw materials across the globe, working with French perfumers to create a full range of products, and also providing bespoke fragrance services, Fragrance Du Bois is personal luxury with a conscience. With exclusive fragrance lounges around the world, in Dubai, Hong Kong, Thailand, Malaysia and Singapore, Fragrance Du Bois creates only the finest experience in bespoke perfumery.

Fragrance Du Bois is known as Parfums Du Bois in France and in non-French speaking markets, as Fragrance Du Bois.

For further information, please contact:
Adrian Heng
Communications Director
Email: adrian.heng@asiaplantationcapital.com
Office: +65-6222-3386
Mobile: +65-9750-7440

Photo – http://photos.prnasia.com/prnh/20150720/8521504707-a
Photo – http://photos.prnasia.com/prnh/20150720/8521504707-b

Source: Asia Plantation Capital

Written by asiafreshnews

July 21, 2015 at 12:16 pm

Posted in Uncategorized

Binatone and Hubble to Showcase Connectivity Products at Shanghai International Children Baby Maternity Industry Expo (CBME China) from July 22 – 24

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LOS ANGELES /PRNewswire/ — Binatone Global and Hubble Connected will showcase their end-to-end Internet of Things (IoT) solutions and wide range of baby and home monitoring products at CBME China fromJuly 22-24, 2015 at the Shanghai New International Expo Centre.

Binatone, a leading provider of consumer electronics and lifestyle products for a broad range of applications including baby, pet and family connectivity at home, will showcase its newest product offerings at Booth E7A44.Its products are sold under world leading brands such as Motorola, AEG, Binatone and iDECT.

Hubble is a new services and solutions platform that provides end-to-end IoT Connected Solutions to enhance consumer experience across a broad range of Binatone products. Users can now stream live video, engage in two-way audio communication, check room temperature, receive alerts and more on their smartphone or tablet via the Hubble application when paired with Motorola Connect products (among others). It also enables industry leading Original Equipment Manufacturers (OEMs) to rapidly and seamlessly integrate products to The Cloud.

“We are thrilled to be at the forefront of continuously offering new integrated technologies that allow parents to securely monitor their babies whether one room away or an entire continent away,” said Dino Lalvani, Chairman and CEO of Binatone Global and Founder & Chairman of Hubble. “Users are granted peace of mind with digital upgrades like pan, zoom, and tilt camera features; and real-time motion, sound and temperature alerts that can be accessed remotely.”

New 2015 Products on Display Will Include:

Baby Nursery Ecosystem Offerings:

  • Motorola MBP854Connect: The MBP 854 Connect by Motorola is a baby monitor that allows users to keep an eye on their baby even when away from home. This baby monitor includes an extra-large parent unit with 4.3″ screen and a camera with digital pan, tilt and zoom function. Motorola’s MBP 854 Connect enables you to view your child from the Parent unit (via 2.4FHSS GHz Technology) or from anywhere in the world using your smartphone, tablet or PC. The Camera will automatically connect to your home Wi-Fi. Simply install the free Hubble application, a secure cloud service. Real-time motion, sound, and temperature alerts give you peace of mind, wherever you are.
  • Motorola MBP36S: The MBP 36S is a two-way communication baby video camera with a 3.5” widescreen viewing unit for parents. The monitor serves remote pan and tilt, infrared night vision, high resolution screen and real-time motion, sound and temperature alerts. Powered by the free Hubble app, the MBP36S features upgrades like Crystal Clear Two Way Audio and Picture-in-Picture and AutoSwitch viewing modes.

Home Connect Ecosystem Offerings:

  • Motorola Focus 73: A new outdoor camera with pan/tilt function, IP66 weatherproof standard, infrared night vision, and motion detection with (optional) triggered recording that will stream alerts directly to the user’s smartphone or tablet using the Hubble app.
  • Motorola FOCUS86 & Smart Tag: The newest home monitor from Binatone features WiFi connectivity, two way communication, 80° field-of-view, long range 2.4GHz technology, infrared night vision, motion triggered recording, remote HD 1080P video streaming, motion, sound, and temperature alerts. With the Smart Tag, users can place the tag on door, window or any objects for motion sensing, and the presence detection to keep the home safe.
  • Motorola FOCUS1000: A compact yet powerful lifestyle video camera with WiFi/BLE connection to mobile for live video streaming/sharing and control. The camera is with one-touch operation, hands-free mode, ultra-wide 138° field-of-view, a high-res optical sensor that shoots 1440p30fps or 1080p60fps videos, a built-in microphone and speaker, a SD slot for saving videos, long lasting battery, a durable water resistant casing and capable to pair with various mounting accessories for different lifestyle applications.

Additionally, Binatone will display baby monitoring products including the Motorola MBP 85Connect, MBP 853Connect, MBP 867, MBP 877, MBP 662, MBP 27T and popular home monitor, the Motorola Focus 66.

The Binatone and Hubble executive teams are available for demonstrations and interviews by appointment. Please contact Kendal@ballantinespr.com to arrange a meeting.

About Binatone: Binatone is a leading provider of innovative consumer electronics and lifestyle products for a broad range of applications including baby nursery, pet nursery and family connectivity at home. Its products are sold under world leading brands such as Motorola, AEG, Binatone and iDECT. For over 56 years, Binatone maintains its position as a key player in the consumer electronics industry by offering innovative products and solutions. For more information, visit www.binatoneglobal.com

About Hubble Connected: Hubble Connected Limited (‘Hubble’) is a global Internet of Things (IoT) Solutions and Platform-as-a-Service (PaaS) provider with offices in USA, Canada, UK, India, Hong Kong and Vietnam. The Hubble platform enables operators and service providers to enhance their offerings and leading global original equipment manufacturers (OEM) to deliver fully integrated connected propositions with rich applications that include live video streaming, Cloud recording and GPS tracking. Hubble has an industry leading ability to offer affordable full global Cellular connectivity.

As well as directly connecting a host of leading global brands such as Motorola, Binatone, AEG, VTech and Beurer, Hubble is a member of the AllSeen Alliance and Thread Group; making products interoperable with other major brands, such as Electrolux, LG, Nest and Samsung. For more information, visit www.hubbleconnected.com

Source: Binatone Global

Written by asiafreshnews

July 21, 2015 at 12:03 pm

Posted in Uncategorized

$197.6 Million Settlement Affects Purchasers of Freight Forwarding Services Providing Domestic and International Shipping

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SAN FRANCISCO /PRNewswire/ — The following is being released by the law firms of Cotchett, Pitre & McCarthy, LLP; Gustafson Gluek PLLC; Lockridge Grindal Nauen P.L.L.P; and Lovell Stewart Halebian Jacobson LLP.

If individuals or companies used the services of certain freight forwarders, they may be entitled to a potentially significant cash payment from class action Settlements.  This is the second notice in this case. Settlements have now been reached with 19 additional Defendants.  Settlements were previously reached with 10 Defendants.  A full list of all Defendants is available at the settlement website: www.FreightForwardCase.com.

The Settlements involve a lawsuit claiming that certain freight forwarding companies secretly agreed to prices for their freight forwarding services worldwide, including on routes in the U.S. and between the U.S. and MainlandChina, Hong Kong, Japan, Taiwan, India, Germany, the U.K. and other parts of Europe. Some of the companies (“Settling Defendants”) that were sued have agreed to Settlements.  The Settling Defendants deny that they did anything wrong.  The lawsuit continues against the Non-Settling Defendants.

Freight Forwarders provide transportation, or logistics services for shipments relating to the organization or transportation of items via air and ocean, which may include ancillary rail and truck services, both nationally and internationally, as well as related activities, such as customs clearance, warehousing, and ground services.

A Class Member is included in one or more of the Settlements if they: 1) Directly purchased Freight Forwarding Services; 2) from any of the Settling or Non-Settling Defendants, their subsidiaries, or affiliates; 3) from January 1, 2001 through January 4, 2011; 4) in the U.S., or outside the U.S. for shipments within, to, or from the U.S.  All you need to know is in the full Notice, located at www.FreightForwardCase.com, including information on who is or is not a Class Member.

The Settling Defendants will establish a Settlement Fund with a minimum of $197.6 million.  The amount of benefits for each purchaser will be determined by the Plan of Allocation, which is posted atwww.FreightForwardCase.com.

Important Information

  • Purchasers will need to submit a Claim Form, online or by mail, by March 31, 2016 to get a payment from the Settlements.  If purchasers already submitted a Claim Form for the first round of Settlements, they do not need to file a new claim.  They will automatically be paid from this second round of Settlements.
  • Purchasers who do nothing will not get a payment and give up the right to sue.
  • Purchasers who want to keep the right to sue the Settling Defendants must exclude themselves bySeptember 18, 2015.
  • Purchasers who stay in the Settlements can object to them by September 18, 2015.

The Court will hold a hearing on November 2, 2015 to consider whether to approve (1) the Settlements and (2) a request for attorneys’ fees up to 33% of the Settlement Fund, plus interest, and reimbursement for litigation expenses.  At the end of this litigation Class Counsel may ask the Court to award each Class Representative an amount not to exceed $75,000 in recognition of each Class Representative’s service in recovering funds for the Class.

For more information regarding the Settlements and Class Member rights, please visitwww.FreightForwardCase.com, call 1-877-276-7340 (U.S. & Canada) or 1-503-520-4400 (International), or write to: Freight Forwarders Claims Administrator, P.O. Box 3747, Portland, OR, 97208-3747.

Source:
Cotchett, Pitre & McCarthy, LLP
Gustafson Gluek, PLLC
Lockridge Grindal Nauen P.L.L.P and Lovell, Stewart, Halebian, Jacobson LLP

Written by asiafreshnews

July 21, 2015 at 11:32 am

Posted in Uncategorized

CenturyLink continues open-source momentum with contribution of Docker, Chef and vSphere projects

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— New tools allow Chef provisioning of vSphere, improve Docker usability

MONROE, La. /PRNewswire/ — CenturyLink, Inc. (NYSE: CTL) today announced it has contributed three projects to the open-source community designed to improve the way developers use Docker, Chef and vSphere technologies.

Logo – http://photos.prnewswire.com/prnh/20090602/DA26511LOGO

The projects are:

  • Chef provisioning driver for vSphere simplifies the process to provision Chef nodes on VMware vSphere infrastructure, filling a gap for enterprise developers who use VMware for their core virtualization technology.
  • Lorry.io, a tool for creating, composing and validating Docker Compose YAML files, makes it easy to share and deploy entire applications composed of Docker containers.
  • ImageLayers.io enables developers to visualize Docker images and the layers that compose them, see how each command in the Dockerfile contributes to the final image and compare multiple Docker images side-by-side.

“The embrace of open-source technologies within the enterprise continues to rise, and we are proud to be huge open-source advocates and contributors at CenturyLink,” said Jared Wray, senior vice president of platforms at CenturyLink.  “We believe it’s critical to be active in the open-source community, building flexible and feature-rich tools that enable new possibilities for developers.”

CenturyLink and its employees have made many open-source contributions. Examples from the past year includePanamax, a Docker management platform; Dray, used to manage Docker workflows; a Cloud Total Cost of Ownership tool; and a Cloud Cost Estimator tool for CenturyLink Cloud. CenturyLink also has active roles in open-source projects and consortiums such as OpenStack and The Cloud Foundry Foundation.

Visit www.centurylinkcloud.com or www.centurylinklabs.com for more information about CenturyLink’s open-source contributions.

About CenturyLink
CenturyLink (NYSE: CTL) is a global communications, hosting, cloud and IT services company enabling millions of customers to transform their businesses and their lives through innovative technology solutions. CenturyLink offers network and data systems management, Big Data analytics and IT consulting, and operates more than 55 data centers in North AmericaEurope and Asia. The company provides broadband, voice, video, data and managed services over a robust 250,000-route-mile U.S. fiber network and a 300,000-route-mile international transport network. Visit CenturyLink for more information.

Source: CenturyLink, Inc.

Related stocks: NYSE:CTL

Written by asiafreshnews

July 21, 2015 at 11:25 am

Posted in Uncategorized