On Thursday, Shares of Cliffs Natural Resources Inc. (NYSE:CLF), lost -8.31% to $3.86, hitting its lowest level.
Cliffs Natural Resources, declared that its Board of Directors declared a quarterly cash dividend on the Company’s 7.00% Series A Mandatory Convertible Preferred Stock, Class A (“Series A preferred stock”), of $17.50 per share, which is equivalent to about $0.4375 per depositary share, each representing 1/40th of a share of Series A preferred stock. The cash dividend will be payable on Aug. 3, 2015 to shareholders of record of the Series A preferred stock as of the close of business on July 15, 2015. The Company stated that the aggregate amount of the preferred dividend payment is about $12.8 million.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
Shares of Axalta Coating Systems Ltd. (NYSE:AXTA), declined -0.43% to $32.50, during its last trading session.
On 1 July, 2015, Axalta Coating Systems, accomplished the acquisition of Metalak Benelux B.V. For more than 60 years, Metalak has been the exclusive distributor of Axalta’s Spies Hecker® refinish coating products sold in the Netherlands and in Flanders, Belgium. Formerly a privately owned company, Metalak has offices in Bornem, Belgium and in Tiel, the Netherlands and will continue to operate under the Metalak name. The agreement will take effect right away.
Dirk Lippens, Country Business Manager for Axalta in the Benelux, says, “Metalak has been operating successfully in the premium segment of the refinish market in the Netherlands and in Belgium for many years, and has established long-term relationships with hundreds of independent body shops and several repair networks. This acquisition strengthens Axalta’s position in the market and is designed to optimize our operational infrastructure while at the same time complement our sales activities. We have a fantastic opportunity to grow our business in these two fast-paced European markets. The entire Benelux team is completely focused on our customers and we look forward to the new opportunities this acquisition brings with it.
Metalak’s Managing Director and owner, Bas van de Ven, joins Axalta’s Benelux administration team as Business Director, Metalak, and will continue as operational lead for Metalak in the Benelux. He says, “I speak for all of my colleagues when I say that this is an exciting time for us. We are now part of Axalta. And while that’s a change, the support we deliver to our customers will certainly not change. They will continue to receive the level of personal service they have come to expect from us as Metalak, except that now that service and support will be accompanied by the backing of Axalta.”
Axalta Coating Systems Ltd., through its auxiliaries, manufactures, markets, and distributes high performance coatings products primarily for the transportation industry. It operates through two segments, Performance Coatings and Transportation Coatings.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
