Archives for April 2018

CHICAGO, April 30, 2018 /PRNewswire/ — First Industrial Realty Trust, Inc. (NYSE: FR) (“First Industrial” or the “Company”) today announced that the public offering price for the 4.8 million common shares previously sold to Citigroup as sole bookrunner of the offering is $30.65 per share.

First Industrial will receive approximately $147 million of gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the proceeds for general corporate purposes, which may include development and/or acquisition of properties. Completion of the offering is subject to customary closing conditions.

Citigroup is acting as the sole underwriter for the common stock offering.    

The shares of common stock are being offered under the Company’s shelf registration statement, including a prospectus filed by First Industrial with the Securities and Exchange Commission on March 14, 2017. When available, a copy of the prospectus supplement and prospectus relating to the offering may be obtained from Citigroup c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling (800) 831-9146 or by visiting the EDGAR database on the SEC’s web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About First Industrial Realty Trust, Inc.

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 64.3 million square feet of industrial space as of March 31, 2018. For more information, please visit us at www.firstindustrial.com.

Forward-Looking Information

This press 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. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions and describe our future plans, strategies and expectations, and are generally identifiable by use of the words “believe,” “expect,” “plan, “intend,” “anticipate,” “estimate,” “project,” “seek,” “target,” “potential,” “focus,” “may,” “will,” “should” or similar words. Although we believe the expectations reflected in forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. Factors which could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities; our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) and changes in interest rates; the availability and attractiveness of terms of additional debt repurchases; changes in our credit agency ratings; our ability to comply with applicable financial covenants; our competitive environment; changes in supply, demand and valuation of industrial properties and land in our current and potential market areas; difficulties in identifying and consummating acquisitions and dispositions; our ability to manage the integration of properties we acquire; potential liability relating to environmental matters; defaults on or non-renewal of leases by our tenants; decreased rental rates or increased vacancy rates; higher-than-expected real estate construction costs and delays in development or lease-up schedules; changes in general accounting principles, policies and guidelines applicable to real estate investment trusts; and other risks and uncertainties described under the heading “Risk Factors” and elsewhere in our annual report on Form 10-K for the year ended December 31, 2017, as well as those risks and uncertainties discussed from time to time in our other Exchange Act reports and in our other public filings with the SEC. We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. For further information on these and other factors that could impact us and the statements contained herein, reference should be made to our filings with the SEC.

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SOURCE First Industrial Realty Trust, Inc.

Related Links

http://www.firstindustrial.com

CALGARY, April 30, 2018 /PRNewswire/ – Newalta Corporation (“Newalta”) (TSX:NAL) and Tervita Corporation (“Tervita”) are pleased to announce that the securityholders of Newalta and the shareholders of Tervita have overwhelmingly voted in favour of the plan of arrangement (the “Arrangement”) under the Business Corporations Act (Alberta) pursuant to which, among other things, Newalta and Tervita will amalgamate, creating a leading energy-focused waste and environmental services company in Canada.

In response to the vote results, John Barkhouse, President and Chief Executive Officer of Newalta stated: “We thank shareholders from both companies for their overwhelming support. We remain confident the combined company will realize significant synergies and unlock growth opportunities.”

John Cooper, Tervita’s President & Chief Executive Officer, said: “We are very pleased that shareholders have voted resoundingly in favour of this transaction. More than ever, we believe that the combination will create value for all stakeholders.”

The resolution in respect of the Arrangement was approved by 99.83% of the votes cast by securityholders of Newalta who voted on the Arrangement, voting together as a single class.  All other resolutions put forth at the meeting of securityholders of Newalta provided for in the joint information circular and proxy statement of Newalta and Tervita dated March 23, 2018 (the “Joint Circular”) were duly passed by the shareholders of Newalta, including the election of all nine of management’s director nominees. 

The resolution in respect of the Arrangement was approved by 100% of the votes cast by shareholders of Tervita who voted on the Arrangement, voting together as a single class.  All other resolutions put forth at the meeting of Tervita shareholders provided for in the Joint Circular were duly passed by Tervita shareholders. 

Upon completion of the Arrangement, the board of directors of the amalgamated company (“New Tervita”) will be comprised of the following ten members: the current six independent directors of Tervita, Grant Billing (Chairman), Allen Hagerman, Jay Thornton, Cameron Kramer, Douglas Ramsay, Kevin Walbridge; John Cooper (President & CEO of New Tervita); two current independent directors of Newalta, Gordon Pridham and Susan Riddell Rose; and Michael Colodner from Solus Alternative Asset Management LP (Tervita’s largest shareholder).

Completion of the Arrangement is subject to various closing conditions, including receipt of approval under the Competition Act (Canada) and receipt of a final order by the Alberta Court of Queen’s Bench (the “Court”).  The application for approval of the Court, originally scheduled for May 1, 2018, will now be heard on June 26, 2018 or as soon thereafter as the Court may advise.  Tervita has applied to list the common shares and warrants of New Tervita on the Toronto Stock Exchange (the “TSX”).  Listing is subject to the approval of the TSX in accordance with its original listing requirements. The TSX has not conditionally approved New Tervita’s listing application and there is no assurance that the TSX will approve the listing application.  Newalta and Tervita are diligently working together toward completion of the required approval under the Competition Act (Canada).  The Arrangement is currently expected to close late in the second quarter of 2018 or early in the third quarter of 2018.  

About Newalta

Newalta is a leading provider of innovative engineered environmental solutions that enable customers to reduce disposal, enhance recycling and recover valuable resources from oil and gas exploration and production waste streams. We simplify the critical challenges of sustainable environmental practices through the use of advanced processing capabilities deployed through a differentiated business model. We serve customers onsite directly at their operations and through a network of locations throughout North America. Our proven processes and excellent record of safety make us the first-choice provider of sustainability-enhancing services for oil and gas customers. With a highly skilled team of people, a two-decade track record of innovation and a commitment to commercializing new solutions, Newalta is positioned for sustained future growth and improvement. We are Sustainability Simplified™. Newalta trades on the TSX as NAL. For more information, visit www.newalta.com.

About Tervita

Tervita is a leading environmental solutions provider. Our integrated earth, water, waste and resource solutions deliver safe and efficient results through all phases of a project by minimizing impact, maximizing returns™. Our dedicated employees are trusted sustainability partners to oil and gas, construction, mining, government and communities. Safety is our highest priority – it influences our actions and shapes our culture. For more information visit www.tervita.com.

Forward-Looking Information 

Certain statements contained in this news release constitute “forward-looking information” as defined under applicable securities laws. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “potential”, “strategy”, “target” and similar expressions, as they relate to Newalta, Tervita, New Tervita or their respective management, are intended to identify forward-looking information. In particular, forward-looking information included in this news release includes information with respect to: matters related to the satisfaction of conditions to completion of the Arrangement and implementation thereof, including the anticipated hearing date of the final order by the Court and the anticipated timing of closing of the Arrangement; the expected board of New Tervita; anticipated synergies, growth opportunities, operating results, financing flexibility, leadership team and number of customers; and anticipated regulatory approvals required under the Arrangement, including approval under the Competition Act (Canada) and conditional listing approval of the TSX.

Such forward-looking information reflects the current views of Newalta and Tervita with respect to future events and are based on certain key expectations and assumptions made by Newalta and Tervita. Completion of the Arrangement is subject to a number of conditions which are typical for transactions of this nature. Assumptions have been made with respect to the satisfaction of all conditions precedent under the Arrangement. Although Newalta and Tervita believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information as neither Newalta nor Tervita can give any assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks in respect of the Arrangement. These include, but are not limited to: the failure to satisfy any of the conditions to completion of the Arrangement; the failure to obtain all required Court, regulatory and third-party approvals, including, without limitation, the required approval under the Competition Act (Canada) and conditional listing approval of the TSX; the failure of Tervita to obtain the required financing required pursuant to the Arrangement; the failure to realize anticipated benefits and other synergies; risks regarding the integration of Newalta and Tervita; and the incorrect assessment of the value of Tervita and/or Newalta. In addition, general factors and risks include, but are not limited to: the strength of the oil and gas industry, including drilling activity; general market conditions; fluctuations in commodity prices for oil and the prices Newalta and Tervita receive, and New Tervita will receive, for their recovered oil; fluctuations in interest rates and exchange rates; financial covenants in debt agreements that may be restrictive; the effectiveness of Newalta’s, Tervita’s and New Tervita’s cash flow management activities and cost rationalization initiatives; Newalta’s, Tervita’s and New Tervita’s ability to secure future capital to support and develop their respective businesses or combined business following completion of the Arrangement; Newalta’s, Tervita’s and New Tervita’s ability to secure alternative financing, if needed, at all or on terms acceptable to Newalta, Tervita or New Tervita, as applicable, and consistent with their respective capital structure objectives; the highly regulated nature of the environmental services and waste management business in which Newalta and Tervita operate and New Tervita expects to operate; the competitive environment of Newalta’s, Tervita’s and New Tervita’s industry in Canada and the United States; dependence on Newalta’s, Tervita’s and New Tervita’s applicable senior management teams and other operations management personnel with waste industry experience; potential operational and safety risks and hazards, obtaining insurance for such risks and hazards on reasonable financial terms and potential failure of meeting customer safety standards; the seasonal nature of Newalta’s, Tervita’s and New Tervita’s operations; timing and term of contracts for Newalta’s, Tervita’s and New Tervita’s services; risk of pending and future legal proceedings; risk to Newalta’s, Tervita’s and New Tervita’s reputation as a result of the Arrangement or otherwise; Newalta’s, Tervita’s and New Tervita’s ability to attract, retain and integrate skilled employees; open access for new industry entrants and the general unprotected nature of technology used in the waste industry; costs associated with operating Newalta’s, Tervita’s and New Tervita’s landfills; and such other risks or factors described from time to time in reports Newalta files and New Tervita will file with securities regulatory authorities.

Additional information on these and other factors that could affect Newalta’s operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Many other factors could also cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information and readers are cautioned that the foregoing list of factors is not exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Furthermore, the forward-looking information contained in this news release is made as of the date of this document and, in each case, is expressly qualified by this cautionary statement. Unless otherwise required by law, neither Newalta nor Tervita intend, or assume any obligation, to update any such forward-looking information.

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SOURCE Newalta Corporation

Related Links

http://www.newalta.com

VANCOUVER, April 30, 2018 /PRNewswire/ – Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a Master Supply Agreement (MSA) with Hyster-Yale Group (“Hyster-Yale”, www.hyster-yale.com) encompassing the supply of minimum annual volumes of Ballard FCgen^®-1020 air-cooled fuel cell stacks for use in powering Class 3 lift trucks and support on the design of a fuel cell electric propulsion system to power these lift trucks. The MSA runs until 2022.  

Hyster-Yale is a leading global lift truck OEM offering over 280 different lift truck models and generating consolidated annual revenues of $2.9 billion. In 2014 Hyster-Yale’s acquisition of Nuvera activated a strategy to design purpose-built, optimized fuel cell-powered lift trucks, and put in place significant expertise and capabilities for fuel cells.

The collaboration with Ballard, Nuvera, and Hyster-Yale will focus on air-cooled stacks for low power applications, complementing the existing Nuvera fuel cell solutions.

About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated development results and impacts on our products. These forward-looking statements reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard’s assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard’s actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard’s future performance, please refer to Ballard’s most recent Annual Information Form. Readers should not place undue reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.  The Ballard Common Shares have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Hyster-Yale Group, Inc.
Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster^® and Yale^® brand names.  Subsidiaries of Hyster-Yale Group include Nuvera Fuel Cells, LLC, an alternative-power technology company focused on fuel-cell stacks and engines, and Bolzoni S.p.A., a leading worldwide producer of attachments, forks and lift tables under the Bolzoni Auramo and Meyer brand names. Hyster-Yale Group, Inc. is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE: HY).  Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 6,800 people worldwide. 

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SOURCE Ballard Power Systems Inc.

Related Links

http://www.ballard.com

The LATAM Passenger Vehicle market is experiencing a number of transformative shifts that are driven by social, economic and technology disruptions impacting Latin America new and used car sales, and main economic activities, new regulations aiding for fleets renewal, new business models being adopted by OEMs, dealerships, entrepreneurs and Tier 1 providers as well as technology innovations that are reshaping the Mobility and Automotive industry. Despite current factors challenging the market, LATAM annual sales of over 5.8 million units by 2018 are expected.

The research covers Argentina, Brazil, Chile, Mexico, Colombia, and Peru, and presents the key market trends, growth opportunities, transformational shifts and market metrics. Analysis by new business models, powertrains and Top Transformational Shifts are covered as well. The key market participants and detailed market outlooks in LATAM are discussed, and the key conclusions, recommendations, and predictions for the market by 2018 are presented.

Research Scope

The study covers the Latin American Passenger Vehicles market and its participants: OEMs, Tier 1 Providers, Aftermarket, Telematic and Online and Mobile App disruptors. The base year is 2017 and the study period 2016 to 2018. The Vehicle segments included are Cars, SUVs, Pick Ups and LCVs in selected LATAM countries: Argentina, Brazil, Chile, Colombia, Mexico and Peru. Competitive benchmarking analysis is done by fuel type, powertrain, OEMs, Online and Mobile App participants.

Research Highlights

The study highlights industry challenges and to transformational shifts and trends for the period, 2016-2018 and analyses the market from end-user and geographic perspectives. The research covers selected Latin American countries: Argentina, Brazil, Chile, Mexico, Colombia, and Peru.

The study also presents key market trends, growth opportunities, OEM strategies to compete with the rising Asian and luxury brands participants, the new business models being implemented, and macroeconomic implications for the market. It offers an analysis of current and future market trends affecting the region, including digitisation, new powertrain options, engine and chassis platformisation, and other strategies offered by OEMs, as well as market disruptors and companies to watch out for in future. Finally, the study provides conclusions, growth opportunities, and strategic recommendations.

Key Issues Addressed

• What are the key trends and factors determining the demand for Passenger Vehicles in Latin America?
• Which are the top transformational shifts impacting the Passenger Vehicles market in Latin America?
• What are the key developments in the connected car market to watch out for in 2016-2018 period? What are the companies to watch in 2018 and in the future?
• How will Digitization and mobile and Online apps reshape the future of Automotive Retail and Mobility services in Latin America?
• What is the growth potential of the market? How does the demand for Passenger Vehicles shape up until 2018?

Key Topics Covered:

1. Executive Summary

• 2017 Key Highlights
• 2018 Key Disruptive Trends and Transformative Shifts
• Select Companies to Watch (C2W) in the LATAM Automotive Industry
• 2018 Top Predictions

2. Research Scope and Segmentation

• Research Scope
• Vehicle Segmentation

3. Key Automotive Sales Trends

• Economic Outlook versus Automotive Sales Movement
• 2017 Top Markets by Sales Volumes
• 2017 Winners
• Light Vehicle Sales by Segment
• Light Vehicle Sales by Region
• Light Vehicle Sales by OEM
• Regional Spotlight-Argentina
• Regional Spotlight-Brazil
• Regional Spotlight-Chile
• Regional Spotlight-Colombia
• Regional Spotlight-Mexico
• Regional Spotlight-Peru

4. Top Trends and Transformational Shifts Impacting the Automotive Industry-2018

• Trend 1-Sheconomy
• Trend 2-Industry 4.0
• Trend 3-Vehicle Segments: SUVs are the Shining Stars
• Trend 3-SUVs are the Shining Stars: New Model Launches
• Trend 3-Vehicle Segments: Pickup Growth
• Trend 4-Online Retail
• Used Cars’ APP Disruptor-App do Automvel or Tinder for Cars
• Trend 5-Vehicle Price Structure: Segment Price Positioning in Mexico
• Trend 5-Vehicle Price Structure: Segment Price Positioning in Brazil
• Trend 6-LATAM as a Production Hub
• Trend 7-Luxury Democratization: Vehicle Sales Forecast by OEM
• Trend 7-Luxury Urban Mobility Solutions
• Trend 8-Data Monetization: Key Consumers and Use Cases
• Trend 9-As-a-Service Model Evolution in Mobility
• Trend 9-OEMs Shift Focus to Car-as-a-Service (CaaS)
• Trend 10-Transitional Features are Market Differentiators
• Trend 11-Future of Automotive: Connected, Autonomous, Shared, & Electric (CASE)

5. 2018 Powertrain and eMobility Outlook

• 2017 Powertrain Heatmaps and Technology Trends to Watch
• Emission and Fuel Economy Targets and Laws
• Unit Vehicle Sales Forecast by Powertrain Mix by Country
• Unit Vehicle Sales Forecast by Transmission Mix by Country
• Engine Downsizing-Unit Vehicle Sales Forecast
• eMobility Unit Shipment Forecast by Country
• Evolving eMobility Regulations in LATAM

6. 2018 Connected Cars Outlook

• Connected Cars Forecast
• Connected Services Snapshot
• Connected Infotainment Snapshot
• Key Connected Car Market Trends at CES 2018
• Connected Cars can Potentially Influence Customer Loyalty
• Case Study-New VW Virtus

7. Used Cars Market-Impacting the Automotive Landscape

• Used Cars Market-2017 and Outlook for 2018
• Select OEM Certified Pre-owned (CPO) Vehicle Programs and Used Car Activities
• Used Car eRetailing Trends
• Top 5 Growth Opportunities

8. 2018 Mobility Outlook

• Transformation in the Mobility Industry Ecosystem-2017
• Traditional Mobility Infrastructure-BRT Systems & Bicycle Lanes
• Carsharing Vehicle Fleet and Member Forecasts
• Taxi and eHailing Market

9. 2018 Aftermarket Outlook

• Top Transformative Trends Impacting the Aftermarket
• Aftermarket VIO and Vehicle Age Forecast
• Total Automotive Aftermarket-Revenue Forecast by Country
• Total Automotive Aftermarket-Revenue Forecast Discussion by Country
• New Disruptive Models in the Automotive Aftermarket
• Digitization Impacts Aftermarket Services-Internet of Parts and Virtual Garages
• Emerging Competitive Strategies in Aftermarket eCommerce
• Automotive Aftermarket-Opportunity Areas

10. Growth Opportunities

• Growth Opportunity in LATAM
• Strategic Imperatives for Success and Growth

11. Key Conclusions and Future Outlook

• Key Conclusions and 2018 Outlook
• Legal Disclaimer

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/research/6qsh8d/latin_american?w=5

Media Contact:

Laura Wood, Senior Manager
[email protected]  

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SOURCE Research and Markets

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