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Sinoenergy Corporation ( SNEN ) |
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Industrial
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Written by Editor
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Monday, 12 October 2009 12:23 |
Sinoenergy Corporation Signs Merger Agreement With Skywide Capital Management Limited
Sinoenergy Corporation (Nasdaq: SNEN), developer and operator of retail compressed natural gas (CNG) filling stations in the People's Republic of China and a manufacturer of CNG transport truck trailer, CNG filling station equipment and CNG fuel conversion kits for automobiles, today announced that, on October 12, 2009, the Company entered into an agreement with Skywide Capital Management Limited, pursuant to which the Company will be merged with and into Skywide. Upon the effectiveness of the merger, each issued and outstanding share of the Company's common stock, other than shares owned by Skywide, will automatically be converted into the right to receive $1.90 per share.
Skywide, which is owned by the Company's chairman, Mr. Tianzhou Deng, and its president, Mr. Bo Huang, is the Company's largest shareholder, owning approximately 39.06% of the Company's outstanding common stock.
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Oshkosh Corporation ( OSK ) |
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Industrial
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Written by Editor
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Friday, 26 September 2008 09:15 |
Oshkosh Announces Improved EPS and Debt Reduction Expectations for Fiscal Fourth Quarter
Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty vehicles and vehicle bodies, announced today that it expects to report earnings per share (“EPS”) for its fourth fiscal quarter ending September 30, 2008 at or above the higher end of its previously announced EPS estimate range of $0.50 to $0.65. Furthermore, Oshkosh expects to reduce its debt to $2.80 - $2.85 billion at September 30, 2008 compared to its previous expectations of $2.85 - $2.90 billion due to cash flow from earnings and working capital initiatives.
“During the last several months, we have improved our cost structure by downsizing our workforce approximately 10% and lowering discretionary spending. We have been reducing our working capital by selling excess inventory, rationalizing production and pursuing receivables initiatives. These swift and decisive actions should help us to remain competitive in fiscal 2009,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer.
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