On Monday, KBR, Inc. (NYSE:KBR)’s shares declined -0.15% to $20.03.
KBR, Inc. (KBR) declared recently it has been awarded an alliance contract by the Victorian Government for Railroad Crossing Removal Projects in Victoria, Australia.
Under the terms of the contract, KBR and John Holland will remove four railroad crossings in Victoria. This work is predictable to be performed over three years, with KBR providing design services for the railroad crossing removals and associated works in an integrated alliance with John Holland, VicRoads, Metro Trains Melbourne and Public Transport Victoria.
The grade separations will be the first undertaken by the Victorian Government as part of its program to remove 50 of the most dangerous and congested railroad crossings across Melbourne. The project will remove railroad crossings at Centre Road in Bentleigh, North Road in Ormond, McKinnon Road in McKinnon and Burke Road in Glen Iris.
Delivering the grade separations and station rebuilds at four sites as one coordinated package should create efficiencies in costs, reductions in disruptions to rail and road users and create accelerated delivery of safer transportation infrastructure.
KBR, Inc. operates as an engineering, construction, and services company worldwide. The company operates through three segments: Technology & Consulting, Engineering & Construction, and Government Services. The Technology & Consulting segment offers various services and solutions, counting licensing, engineering and design, proprietary equipment, plant automation, catalysts, and related consulting services to hydrocarbons, chemicals, and fertilizer markets.
Macquarie Infrastructure Corp (NYSE:MIC)’s shares gained 1.17% to $85.55.
Macquarie Infrastructure Corp (MIC) declared recently the pricing of an underwritten public offering of 1,900,000 shares of common stock (“shares”) of the Company by Macquarie Infrastructure Administration (USA) Inc. (“MIMUSA”), the manager of the Company, for total gross proceeds to MIMUSA of about $160 million.
In connection with the offering of shares, MIMUSA has granted the underwriter a 30-day option to purchase up to an additional 285,000 shares. MIMUSA will receive all of the proceeds from this offering. No shares are being sold by the Company.
J.P. Morgan is acting as sole bookrunner for the offering. The offering was made under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission on April 8, 2013, as amended, and is predictable to close on June 2, 2015, subject to customary closing conditions.
Prior to the declarement of this offering, MIMUSA held about 6.9 million shares of MIC, or 8.7% of the MIC’s shares outstanding. Assuming the sale of 1.9 million shares, MIMUSA’s holding will be reduced to about 6.3% of MIC’s shares outstanding. MIMUSA held about 6.2% of MIC’s shares outstanding prior to the issuance of shares in settlement of fees for the first quarter.
Macquarie Infrastructure Company LLC, through its auxiliaries, owns, operates, and invests in infrastructure businesses that provide services to businesses and individuals primarily in the United States. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power and Energy (CP&E), and Hawaii Gas. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, various chemicals, renewable fuels, and vegetable and animal oils at 10 marine terminals in the United States and 2 marine terminals in Canada. This segment also provides environmental emergency responses, industrial services, and waste transportation and disposal services.
At the end of Monday’s trade, JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO)‘s shares dipped -2.21% to $8.87.
JA Solar Holdings Co., Ltd. (ADR) (JASO) declared that its board of directors has received a preliminary non-binding proposal letter dated June 5, 2015 from Mr. Baofang Jin, its Chairman and Chief Executive Officer, and Jinglong Group Co., Ltd., a British Virgin Islands company of which Mr. Baofang Jin is the sole director (collectively, the “Buyer Group”), to acquire all of the outstanding shares of the Company not already owned by the Buyer Group in a going private transaction for US$9.69 per American Depositary Share (“ADS”, each ADS representing five ordinary shares) or US$1.938 per ordinary share in cash, subject to certain conditions.
The Board intends to form a special committee comprising of independent directors to consider this proposal. The Company cautions its shareholders and others considering trading in its securities that the Board just received the non-binding proposal and has not made any decisions with respect thereto. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
JA Solar Holdings Co., Ltd., together with its auxiliaries, designs, develops, manufactures, and sells photovoltaic solar cells and solar power products based on crystalline silicon technologies. The company’s principal products comprise monocrystalline and multicrystalline solar cells and modules. It also provides monocrystalline and multicrystalline silicon wafers; solar product processing services; and engineering, procurement, and construction services to independent power project developers and public utility companies.
United Parcel Service, Inc. (NYSE:UPS), ended its Monday’s trading session with -1.21% loss, and closed at $99.29.
United Parcel Service, Inc. (UPS) declared that the company has been named to Maclean’s/L’Actualité’s annual list of “50 Most Socially Responsible Corporations in Canada.” The program audits and ranks companies in Canada on the basis of their performance across 75 different indicators counting a broad range of environmental, social and governance (ESG) aspects tracked by Sustainalytics, a global responsible investment research firm specialized in ESG research and analysis.
Ranked among the top transportation and logistics companies, UPS’s inclusion marks the fourth straight year the company has appeared on the prestigious list. UPS has a legacy of connecting and improving the communities where our employees live and work. In every aspect of the business UPS strives to do more, whether through efforts to lessen environmental impact, enhance the economy and develop empowered people.
In 2014, UPS employees dedicated over 70,000 hours to hundreds of charitable organizations across Canada. This was in addition to more than $460,000 given through The UPS Foundation Community Grant Program. Within its ground fleet in Canada, UPS continues to lessen its greenhouse gas emissions by implementing more efficient route planning to minimize environmental impact. For example, proprietary technology tells UPS drivers not to turn left. Avoiding left-hand turns saves time, is safer, reduces fuel use and lowers emissions – all while increasing efficiency and decreasing the number of total kilometers travelled. UPS works to reduce the amount of fuel required for those kilometers driven through advanced routing systems and diligent vehicle maintenance practices, assisting UPS run efficiently. Careful route planning allows the ground fleet to service millions of customers a day without unnecessary overlap. In Canada, UPS operates an alternative fuel fleet with more than 830 vehicles. Using alternative fuel vehicles assists meet our aim of reducing fuel consumption and greenhouse gas emissions.
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.
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