Month: April 2012
PRINCETON, N.J., Apr 02, 2012 (BUSINESS WIRE) —
Rockwood Holdings, Inc.
today announced that its global
lithium and special metal compounds business will trade under the new
brand name Rockwood Lithium.
Currently Rockwood uses several brand names in the market, including
Chemetall — the lithium company, Chemetall Foote and Sociedad Chilena de
Litio (SCL). All of these brand names have been replaced by Rockwood
Lithium. In the United States the business will be called Rockwood
Rockwood Lithium is the global market leader for lithium compounds and
one of the largest lithium raw material producers. The company is also a
leading provider of special metal compounds based on cesium, barium,
titanium and zirconium.
Commenting on this, Rockwood Chairman and CEO Seifi Ghasemi said, “With
the rapidly expanding markets for lithium ion batteries and metal
organic chemicals, and in particular with the potential for growth in
lithium batteries for electric vehicles, Rockwood is unifying its
businesses under the Rockwood Lithium brand name. We intend to be the
leading global brand for sophisticated products, high level customer
service and sustainable production to satisfy customer needs.”
Rockwood Holdings, Inc. is a leading global inorganic specialty
chemicals and advanced materials company. Rockwood has a worldwide
employee base of approximately 9,700 people and annual net sales of
approximately $3.7 billion. The company focuses on global niche segments
of the specialty chemicals, pigments and additives and advanced
materials markets. For more information on Rockwood, please visit
The information set forth in this press release contains certain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 concerning the business,
operations and financial condition of Rockwood Holdings, Inc. and its
subsidiaries and affiliates (“Rockwood”). Words such as “anticipates,”
“believes,” “estimates,” “expects,” “forecasts,” “predicts” and
variations of such words or expressions are intended to identify
forward-looking statements. Although Rockwood believes the expectations
reflected in such forward-looking statements are based upon reasonable
assumptions, there can be no assurance that its expectations will be
realized. “Forward-looking statements” consist of all non-historical
information, including any statements referring to the prospects and
future performance of Rockwood. Actual results could differ materially
from those projected in Rockwood’s forward-looking statements due to
numerous known and unknown risks and uncertainties, including, among
other things, the “Risk Factors” described in Rockwood’s 2010 Form 10-K
on file with the Securities and Exchange Commission. Rockwood does not
undertake any obligation to publicly update any forward-looking
statement to reflect events or circumstances after the date on which any
such statement is made or to reflect the occurrence of unanticipated
SOURCE: Rockwood Holdings, Inc.
Rockwood Holdings, Inc.
Timothy McKenna, 609-734-6430
European and Trade Press:
Thomas Krause, +49-69-7165-2232
Copyright Business Wire 2012
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Rockwood Holdings Inc.
: NYSE Euronx
April 13, 2012 4:00p
Market Cap$3.88 billion
Rev. per Employee$378,278
ArcelorMittal (ACL) South Africa Ltd. will
be excluded from the government’s preferential procurement
policy, which is designed to benefit local manufacturers,
Business Day reported, citing Nimrod Zalk, deputy director-
general of the Department of Trade and Industry.
All steel, regardless of origin, will be regarded as
locally manufactured to prevent ArcelorMittal (MT), the dominant
supplier, from pushing up prices, the Johannesburg-based
newspaper quoted Zalk as saying.
The steelmaker said its exclusion will have a minimal
impact on current prices and will further worsen the industry’s
competitive position. It may lead to further job losses, the
newspaper reported, citing ArcelorMittal spokesman Themba Hlengani.
To contact the reporter on this story:
Jana Marais in Johannesburg at
To contact the editor responsible for this story:
John Viljoen at
Tiger Woods arrived at Augusta National for this weeks Masters on Sunday confident and fit and was quickly down to business, playing the front nine.
Woods, a four-time Masters champion and 14-time major winner, snapped a US PGA win drought of 2 1/2 years one week ago with a victory at Bay Hill. Now he hopes to end a major title drought dating to the 2008 US Open.
Physically Im fine, Woods told the Masters website. I feel great, no aches and pains.
The Sustainability, Planning, and Economic Enhancement Department will begin a series of free workshops to educate the public on the steps required to open a business in Miami-Dade County. The first workshop will be held from 12:30 to 2 pm April 4 at the Miami-Dade County Permitting and Inspection Center, in second floor conference rooms I and J, 11805 SW 26 St., Miami.
County staff will be available to answer questions and share their expertise on the necessary tools and information to start and operate a successful business.
The Sustainability, Planning and Economic Enhancement Department is a merger of economic development agencies. Miami-Dade County Business Affairs and Consumer Protection, formerly Miami-Dade Consumer Services Department www.miamidade.gov/csd, investigates and mediates consumer complaints, enforces county consumer protection laws and business regulations and licenses certain businesses. The Cooperative Extension Division provides technical agricultural assistance. The department also educates consumers on marketplace issues.
PARSIPPANY, N.J., Apr 2, 2012 (GlobeNewswire via COMTEX) —
announced today that it has completed the sale of its heat treating business to Bodycote plc
for $52 million in cash.
“We are pleased to complete the sale of our heat treating business, as it enables Curtiss-Wright to focus on its core metal treatment businesses,” said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. “Technical services such as shot and laser peening, specialty coatings and materials testing are highly complementary to the engineered product solutions that Curtiss-Wright is well known for in the industry.”
The transaction resulted in a book gain on sale in the first quarter of approximately $18 million, net of tax, or approximately $0.37 per diluted share.
Curtiss-Wright entered the heat treating business in 1979 with the acquisition of Deibel Heat Treating and subsequently expanded the business through greenfield operations and numerous acquisitions, currently operating nine facilities across the United States.
The business concluded 2011 with approximately $36 million in sales. For the remaining nine months of 2012, sales and operating income for the heat treating business were expected to be approximately $30 million and $10 million, respectively. As a result, this will subsequently impact the Metal Treatment segment’s full year 2012 guidance and also will reduce Curtiss-Wright’s overall diluted earnings per share by $0.14.
Curtiss-Wright also announced its intent to complete business restructuring initiatives in the Metal Treatment segment in order to better position the business for long-term profitability and growth. As a result, the Company expects to incur charges of approximately $12 million, or $0.16 per diluted share. These restructuring activities are expected to be completed by December 31, 2012, and as a result, the majority of the charges will impact the Company’s fourth quarter 2012 results.
Full Year 2012 Guidance
The Company is updating certain aspects of the Metal Treatment segment’s full year 2012 financial guidance as follows:
Prior Guidance New Guidance
Metal Treatment Sales $310 – $320 million $280 – $290 million
————————————- ——————- ——————-
Metal Treatment Operating Income $51 – $53 million $29 – $31 million
————————————- ——————- ——————-
The Company also is updating certain aspects of Curtiss-Wright’s full year 2012 financial guidance as follows:
Prior Guidance New Guidance New % Growth
——————— ——————— ————-
Total Curtiss-Wright Sales $2.23 – $2.27 billion $2.20 – $2.24 billion 7-9%
——————————– ——————— ——————— ————-
Operating Income $240 – $248 million $218 – $226 million 6-10%
——————————– ——————— ——————— ————-
Diluted Earnings per Share* $2.95 – $3.05 $3.02 – $3.12 12-16%
——————————– ——————— ——————— ————-
*Diluted Earnings per Share calculation excludes prior year R&D tax credit.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,900 people worldwide. For more information, visit
The Curtiss-Wright Corporation logo is available at
About Curtiss-Wright Metal Treatment Segment
Metal Improvement Company, headquartered in Paramus, NJ, is the Metal Treatment business segment of Curtiss-Wright Corporation. This business segment provides precision shot peening, laser peening, protective coatings and analytical services to the aerospace, automotive, power generation and general industrial markets through a global network of locations.
Certain statements made in this release, including statements about future revenue, financial performance guidance, annual revenue, net income, operating income, and earnings per share, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements present management’s expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, electronics, marine, and industrial companies. Such factors are detailed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and subsequent reports filed with the Securities and Exchange Commission.
This news release was distributed by GlobeNewswire,
SOURCE: Curtiss-Wright Corporation
CONTACT: Jim Ryan
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
Add to portfolio
: NYSE Euronx
April 2, 2012 4:03p
Market Cap$1.73 billion
Rev. per Employee$230,801
Add to portfolio
: LSE SETS
April 3, 2012 8:46a
Market Cap£738.95 million
Rev. per Employee£103,145
Compiled for Reuters by Media Monitors. Reuters has not
verified these stories and does not vouch for their accuracy.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
Some of the largest institutional investors in Australia,
including Dimensional Fund Advisers, Perpetual and
Investors Mutual, have claimed that share placements are not
always fairly handled. There is always going to be an element
of conflict [in share placements between clients of investment
banks and long-term shareholders]. The company [raising capital]
has to take a firm hand in terms of allocation, Matt Williams,
head of equities at Perpetual, said. Page 15.
Orbis Investment Management is moving ahead with its bid to
elect an independent director to the board of Tassal,
the largest salmon producer in Australia. The move comes as
three directors, including Clive Hooke, Gary Helou and David
Groves, resigned from the board last week. Allan McCallum,
chairman of Tassal, said the company would announce the identity
of the incoming director this week. Page 15.
The chairman of industry group Infrastructure Partnerships
Australia, Mark Birrell, has called for more local
superannuation funds to merge in a bid to form larger entities
capable of funding infrastructure development. The purchase of
ConnectEast by overseas funds in a consortium was a dramatically
important signpost to the future in Australia, Mr Birrell,
former politician and the head of law firm Minter Ellisons
infrastructure group, added. Page 17.
The Australian Institute of Superannuation Trustees Fiona
Reynolds has called on the Federal Government to give tax breaks
to merging superannuation funds for their investment gains and
losses. Lack of capital gains tax (CGT) relief is currently
one of the biggest issues in the super industry, the lobby
groups chief executive (CEO) said. A recent survey of super
fund CEOs undertaken by [the group] showed that the lack of CGT
relief was an issue for more than 20 funds and is hampering
industry consolidation, she added. Page 17.
THE AUSTRALIAN (www.theaustralian.com.au)
Chris Sutherland, chief executive of Programmed Group
, declared in an interview that the labour provider and
facilities management firm is still viewed as a painting
company by the market after a series of disruptive events.
The company lost A$11 million operating in the British contract
painting industry in 2010. However, Mr Sutherland pledged that
Programmed would derive more than half our earnings from
resources this year. Page 19.
Ian McLeod, managing director of Coles, yesterday
defended the supermarket chains strategy that focuses on
improving its existing outlets rather than emulating rival
Woolworths by opening more outlets. If you can get a
better return on investment by extending an existing shop,
rather than building a new one, why wouldnt you do that? Mr
McLeod said rhetorically. Page 19.
Stephen Munchenberg of the Australian Bankers Association
said yesterday on Sky Businesss Australian Business television
show that lenders had only passed on around 6 to 10 basis points
of a 25 basis point rise in their cost of funding. The funding
cost pressures remain, but the banks will look at balancing the
needs of their borrowers against the broader need to ensure that
the banking system remains stable and can continue to raise
money to lend through to borrowers, the lobby groups chief
executive stated. Page 19.
PetroChina and Royal Dutch Shell have recorded a
A$294 million loss from their coal-seam gas Arrow Energy joint
venture in Queensland, according to the latters financial
accounts. The documents, filed with the Australian Securities
and Investments Commission, revealed that the company also
reported 8 environmental incidents to the state government. In
seven out of the eight cases, no environmental harm was caused,
Arrow said, adding that any possible fallout from the remaining
incident was still being investigated. Page 19.
THE SYDNEY MORNING HERALD (www.smh.com.au)
The largest Australian grocery wholesaler and owner of the
Mitre 10, Franklins and IGA franchises, Metcash, is
tipped to reveal multimillion-dollar impairments against its
assets today. Observers have speculated that the Franklins
supermarket chain, Campbells Wholesale business or the
Australian Liquor Markets division could be the origin of the
write-downs. Page B1.
Australian fashion mogul Napoleon Perdis has recommended
that major department stores like Myer and David Jones
abandon their floor restrictions to enhance the
shopping experience to lure customers away from online
retailers. The minute you start creating so much boundaries
around department stores it loses creativity, and a department
store has to be a melting pot of creativity and then the
merchandise will sell, Mr Perdis added. Page B1.
Deborah Sharkey, head of eBay Australia, admitted that the
online auctioneer had contacted David Jones to offer assistance
in boosting the department stores presence on the internet.
We have openly contacted many of the major retailers offering
to help build out their online strategy, Ms Sharkey said. A
spokeswoman from David Jones said the company couldnt see the
value of teaming up with an aggregator as it only adds
additional cost when the aggregator takes its margin. Page B2.
The Teachers Credit Union became the sixth building society
or credit union to establish itself as a bank last week in a bid
to boost its image. We just think the word bank would give
that added security and safety…with that added security of
having mutual bank in the name, we should be able to attract a
lot more customers, Steve James, chief executive of Teachers
Mutual Bank, said. The countrys largest credit union, CUA,
however, has questioned whether becoming a mutual would harm its
customer service reputation. Page B3.
THE AGE (www.theage.com.au)
Telecommunications giant Huawei Technologies was being
investigated by cyber security officials in the Federal
Attorney-Generals department four years ago because of
issues, it was revealed recently. The Chinese-state owned
firm was recently blackballed from participating in Australias
national broadband network rollout after the Australian Security
Intelligence Organisation advised the government that Huaweis
involvement could engender a threat to national security. Page
The Australian Pipeline Industry Association yesterday
slated the Federal Government for providing a combined A$1
billion in cash payments to the most carbon emissions-intensive
coal-fired power generators in Australia. The lobby group said
the payment from the Energy Security Fund, which is designed to
lessen the impact of the carbon tax, solidified the governments
bias against natural gas alternatives. This does not make
sense…. is effectively a gift of dirty money, Cheryl
Cartwright, chief executive of the association, said. Page B3.
Naomi Simson, founder of online experience retailer
RedBalloon, yesterday said the key to building a strong business
was not necessarily to make money from the outset. We go into
business because we see a problem and we want to change it, and
its something were completely passionate about. If you dont
have that single-minded passion, it becomes work and this has
never been work for me, Ms Simson said. RedBalloon, which
employs 56 workers, expects to post A$50 million in sales this
financial year. Page B4.
Figures from real estate group CB Richard Ellis (CBRE)
reveal that more than A$1.4 billion in property sales above A$20
million were processed in the first three months of 2012,
surpassing analysts expectations. Kevin Stanley, director of
global research, consulting and executive director at CBRE, said
some investment decisions were being put off because of the
financial crisis in Europe. Page B8.