LONDON, UK: James Latham Plc has acquired the entire issued share capital of Dresser Mouldings (Rochdale) Limited, a specialised processor of timber and cladding products. The Company has acquired Dresser for £1 million. The consideration will be satisfied in cash from the Company’s existing resources. For the year ended 31 December 2018, the turnover of…
Salmat to sell marketing solutions business for $25 million
SYDNEY, AUSTRALIA: Salmat Limited has entered into an agreement to sell its Marketing Solutions business to a wholly-owned subsidiary of IVE Group Limited for $25 million cash. Under the terms of the agreement, completion is scheduled to occur on 1 January 2020, subject to the satisfaction of conditions precedent. As part of the transaction, IVE…
LNG Limited extends $4.623bn EPC contract with KSJV
SYDNEY: Liquefied Natural Gas Limited has extended the validity period of its current binding engineering, procurement, and construction (EPC) contract with KSJV (a KBR – SKE&C joint venture led by KBR) for its 100% owned subsidiary, Magnolia LNG LLC. The binding lump sum turnkey (LSTK) EPC US$4.623 billion contract providing an installed EPC cost/tonne of…
Savannah becomes sponsor to FST Lisboa
LONDON: Savannah Resources plc has become a sponsor to FST Lisboa, a team of engineering students from the University of Lisbon focused on the design and build of innovative, lithium-ion battery powered formula race cars. This season, FST Lisboa (www.fstlisboa.com) includes a team of 43 engineering students, working towards developing their next generation electric vehicle…
Austral enters agreement to acquire remaining 30% of Casposo Mine
SYDNEY: Austral Gold Limited has entered into a share purchase agreement with Troy Resources Limited to acquire the remaining 30% interest in the Casposo silver-gold mine located in San Juan, Argentina. Austral has agreed to pay US$0.2 million for the outstanding common shares of Casposo Argentina Ltd, a wholly-owned subsidiary of Troy that owns the…
Construction of USA’s largest privately funded Open Access Fiber Networks commences
LOS ANGELES/ACCESSWIRE: Construction of Fullerton’s city wide fiber optic network is in full swing. The network will be one of the USA’s largest privately funded Open Access Networks passing each and every home and business in Fullerton. SiFi Networks is revolutionizing the American market in its creation of an open access network which is privately…
Simavita receives CE Mark Approval for Smartz
SYDNEY: Simavita Limited, a leading developer of smart, wearable and disposable platform technologies for the USD64 billion global diaper industry has received CE Mark approval for Smartz. Smartz now meets those standards which enable the technology to be sold throughout the European Economic Area. “Achieving CE Mark enables Simavita to commercialise our disruptive technology for…
Nine months 2019 results show 13% underwriting income increase for U.S. P/C industry
OLDWICK: The U.S. property/casualty (P/C) industry’s net underwriting income improved in the first nine months of 2019 by 13% compared with the same prior-year period to $4.5 billion, as growth in net earned premiums offset year-over-year increases in incurred losses and loss adjustment expenses, underwriting expenses and policyholder dividends. This financial review is detailed in…
Reon Energy completes 10 MW solar project for Eni
KARACHI: Reon Energy Limited has announced the completion of the 10 MW captive solar power project for Eni, through its’ subsidiary Eni New Energy Pakistan, at Bhit, Sindh. The solar photovoltaic plant will free up the gas used in self-generation whilst optimizing operational costs. The 10 MW plant is expected to produce approximately 20 GWh…
Brooks Macdonald to acquire Cornelian Asset Managers for £39 million
LONDON, UK: Brooks Macdonald Group has entered into a binding agreement to acquire 100% of the issued share capital of Cornelian Asset Managers Group Limited, the Edinburgh based independent wealth and asset manager from its shareholders, including senior management. The total net consideration is expected to be up to £39 million, with initial consideration being…
Genex executes Mou with J-Power for Kidston Pumped Storage Hydro Project
SYDNEY: Genex Power Limited has signed a new Memorandum of Understanding (MOU) with Electric Power Development Co Ltd trading as J-POWER. The MOU provides that the parties will work together using their best endeavours to negotiate a transaction for the Kidston Pumped Storage Hydro Project (K2-HydroorProject) for J-POWER to acquire direct or indirect equity in…
Abacus Property to acquire 99 Walker Street for $311.3mn
SYDNEY, AUSTRALIA: Abacus Property Group has exchanged contracts for the acquisition of 99 Walker Street, North Sydney NSW, with settlement anticipated, subject only to FIRB approval, by calendar year end. Total consideration for the acquisition is $311.3 million, excluding transaction costs and reflects circa $16,100 per square metre of net lettable area (NLA). The property…