On Wednesday, United Parcel Service, Inc. (NYSE:UPS)’s shares inclined 0.07% to $100.42.
Industrial distributors are facing changing market conditions that are challenging their long-standing business models. The UPS (UPS) Industrial Buying Dynamics study, conducted by global research firm TNS, revealed buyers are increasingly willing to purchase outside of their existing supply base. The study identified four noteworthy forces that are impacting how the relationships between industrial distributors and their customers are being redefined.
According to the UPS study, 38 percent of online industrial product buyers sourced products from a new supplier (vs. 34% in 2013) and 72 percent said they would shift spending to a distributor with a more user-friendly website.
United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. It operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States. The International Package segment provides guaranteed day and time-definite international shipping services in Europe, Asia, Canada and Latin America, the Indian sub-continent, the Middle East, and Africa.
ING Groep NV (ADR) (NYSE:ING)’s shares dropped -0.37% to $16.08.
ING Capital LLC (“ING”) declared the opening of a new office in Chicago, Illinois for its Acquisition Finance Group in the Americas (“AFG”). This adds to ING’s current U.S. office locations in New York, Atlanta, Dallas, Houston and Los Angeles. The Chicago office will bring the total number of employees in AFG to 23.
AFG is led by William Povey, ING’s Group Head of Acquisition Finance. The new Chicago office will focus on providing origination and underwriting of cash flow and asset-based loans in support of middle market leveraged buyouts and recapitalizations throughout the Midwest.
ING Groep N.V., a financial institution, provides banking products and services to individuals, small and medium enterprises, and mid-corporate. It operates through Retail Netherlands; Retail Belgium; Retail Germany; Retail Rest of World; and Commercial Banking segments.
At the end of Wednesday’s trade, Scorpio Bulkers Inc (NYSE:SALT)‘s shares surged 1.16% to $1.74.
Scorpio Bulkers Inc (SALT) declared that it has reached agreements to sell three Capesize new building dry bulk vessels and two LR2 product tankers under construction for about $236 million in aggregate.
The Capesize vessels are presently being constructed in China, and have predictable delivery dates between the first quarter of 2016 and the second quarter of 2016. The LR2 product tankers are presently being constructed in Romania, and have predictable delivery dates in the fourth quarter of 2016 and the first quarter of 2017.
Scorpio Bulkers Inc., together with its auxiliaries, engages in the marine transportation of dry bulk commodities. Its fleet transports a range of major and minor bulk commodities, counting ores, coal, grains, and fertilizers along worldwide shipping routes.
Oi SA (ADR) (NYSE:OIBR), ended its Wednesday’s trading session with 2.00% gain, and closed at $2.04.
Oi SA (ADR) (OIBR) following art. 157, section 4, of Law No. 6,404/76 and CVM Instruction No. 358/02, informs its shareholders and the market in general that, after satisfying all of the contractual conditions precedent, the sale by Oi of all shares issued by PT Portugal SGPS, S.A. (“PT Portugal”) to Altice Portugal, S.A. (“Altice Portugal”), primarily encompassing the operations conducted by PT Portugal in Portugal and Hungary, as revealed in the Company’s Material Facts published on December 8, 2014, December 9, 2014, January 22, 2015 and April 22, 2015, became effective on this date.
Altice Portugal disbursed the total amount of 5.789 billion Euros for the acquisition of PT Portugal, of which 4.920 billion Euros were paid in cash to Oi and 869 million Euros were allocated to right away repay outstanding indebtedness of PT Portugal in Euros. The final purchase price is subject to post-closing adjustments to be calculated within the next months as a result of changes in the cash, indebtedness and working capital positions on the closing date.
Oi S.A. provides integrated telecommunication services for residential customers and governmental agencies, in addition to small, medium, and large companies in Brazil. It offers fixed-line voice services, such as installation, monthly subscription, metered services, collect calls, and supplemental local services; domestic and international long-distance services; broadband Internet access services; subscription television services; and bundled services, in addition to owns and operates public telephones.
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