On Thursday, CF Industries Holdings, Inc. (NYSE:CF)’s shares inclined 1.43% to $64.25.
CF Industries Holdings, Inc. (CF) will debottleneck the existing urea plant at its Courtright Nitrogen Complex in Sarnia, Ontario, in order to upgrade ammonia into additional urea-based products. Once accomplished, production capacity at Courtright for urea-based products, counting diesel exhaust fluid (DEF), granular urea, and urea liquor, will enhance by 130,000 tons.
The debottleneck project will start in 2015 at an estimated cost of $85 million (about CAD $105 million). Completion is anticipated for the fourth quarter of 2017 concurrent with a planned turnaround of the urea plant.
CF Industries Holdings, Inc. manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company’s principal nitrogen fertilizer products comprise ammonia, granular urea, and urea ammonium nitrate solution. Its other nitrogen products comprise ammonium nitrate, diesel exhaust fluid, urea liquor, and aqua ammonia.
Microchip Technology Inc. (NASDAQ:MCHP)’s shares gained 2.33% to $49.01.
Microchip Technology Incorporated, a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, declared, in connection with the formerly declared definitive agreement under which Microchip will acquire Micrel, Incorporated (MCRL), the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, had expired on June 15, 2015, and the Federal Cartel Office in Germany had cleared the transaction on June 17, 2015. There is no further antitrust clearance required for closure of the transaction. Completion of the merger remains subject to certain other closing conditions, counting approval by Micrel shareholders of the merger. The special meeting of Micrel shareholders to approve the merger has not yet been set. Microchip continues to expect that the transaction will close in the third calendar quarter of 2015.
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
At the end of Thursday’s trade, PG&E Corporation (NYSE:PCG)‘s shares surged 1.75% to $51.69.
San Francisco Mayor Ed Lee and San Jose Mayor Sam Liccardo joined Pacific Gas and Electric Company’s (PCG) new energy-saving pledge to encourage energy efficiency in their cities, with a chance to earn up to $2 million in funds for local businesses to reinvest in sustainability programs.
Sponsored by PG&E, Step Up and Power Down is a community initiative inspiring local companies to adopt behavioral changes in the workplace. Energy efficiency programs and simple behavioral changes can be some of the most cost-effective measures to reduce energy waste and drive down greenhouse gas emissions. The Natural Resources Defense Council, an international environmental organization, has joined the Step Up and Power Down initiative as an advisor to assist businesses use energy smarter.
The mayor’s pledge was taken at the Cities’ Climate Action Reception hosted by Mayor Lee at Kilroy Realty Corporation in downtown San Francisco on June 18.
Over the course of the 18-month initiative, Step Up and Power Down is projected to assist San Francisco achieve 20 million kilowatt hours (kWh) in energy savings and San Jose to earn 25 million kWh in energy savings – roughly the equivalent of powering two downtown city blocks for a full year. If the energy savings aims are achieved, each city will receive a community award donated by PG&E shareholders of $1 million dollars to reinvest in city-approved efforts focused on increasing sustainability and reducing greenhouse gas emissions.
PG&E Corporation, through its partner, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California. The company’s electricity distribution network comprises of 141,700 circuit miles of electric distribution lines, 55 transmission switching substations, and 603 distribution substations; and electricity transmission network comprises 18,100 circuit miles of interconnected transmission lines and 91 electric transmission substations. Its natural gas system comprises of about 42,700 miles of distribution pipelines, about 6,400 miles of backbone and local transmission pipelines, and various storage facilities.
Cheetah Mobile Inc (ADR) (NYSE:CMCM), ended its Thursday’s trading session with 3.61% gain, and closed at $34.97.
CommScope Holding Company, Inc. (COMM) has declared the sale of 20,000,000 shares of its common stock on an underwritten basis by an associate of The Carlyle Group. In addition, the underwriter will have an option to purchase up to 3,000,000 additional shares from Carlyle. CommScope will not receive any of the proceeds from the offering of shares by Carlyle.
J.P. Morgan Securities LLC is acting as the sole underwriter for the offering. J.P. Morgan Securities LLC proposes to offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the Nasdaq Global Select Market, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
Following the offering, Carlyle will continue to beneficially own 61,216,970 shares, or about 32%, of CommScope’s outstanding common stock after giving effect to the offering (or 58,216,970 shares, or about 31%, if the underwriter fully exercises its option to purchase additional shares). The sale of the shares of common stock contemplated hereby will trigger the obligation under the Amended and Restated Stockholders Agreement for three Carlyle designees to CommScope’s Board of Directors to resign upon closing of the offering. In addition, going forward, Carlyle will only be afforded the right to designate six directors rather than nine. However, CommScope’s Board of Directors anticipates that it will waive the obligation that three Carlyle designees right away resign and allow such directors to continue to serve their remaining terms.
CommScope Holding Company, Inc., together with its auxiliaries, provides connectivity and infrastructure solutions for wireless, business enterprise, and residential broadband networks worldwide. The company operates through three segments: Wireless, Enterprise, and Broadband.
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