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Blount International, Inc. (NYSE:BLT)
BLT, a leader in the manufacturing, marketing, and distribution of replacement parts, equipment, and accessories for the global forestry, lawn and garden, farm and ranch, and construction industries, this month announced the simultaneous signing and closing of the sale of BLT's indirect wholly-owned subsidiary Gear Products, Inc. BLT sold all of the stock of Gear to Tulsa Winch, Inc., an operating unit of Dover Industrial Products, Inc. for approximately $25 million in cash, subject to certain adjustments.
Founded in 1957, Gear is a manufacturer of mechanical power transmission components for original equipment manufacturers, serving the utility, construction, forestry, marine, and mining markets. Approximately 60 people are employed at Gear's Tulsa, Oklahoma facility.
Proceeds received upon completion of the transaction will be utilized to reduce debt and pay applicable taxes and transaction fees. The intention to sell Gear as a non-core asset had been announced previously by BLT.
Blue Chip Value Fund, Inc. (NYSE:BLU)
BLU and Westcore Blue Chip Fund (MUTF:WTMVX) announced this week that their respective Boards of Directors and Trustees have given preliminary approval to a proposal to reorganize the BLU into Westcore Blue Chip Fund, a registered open-end fund with a similar investment objective and strategies that is also managed by Denver Investments. The proposed reorganization is subject to a number of conditions, including negotiation and final approval by the Boards of the BLU and Westcore Blue Chip Fund of the definitive terms of the reorganization and approval by the BLU shareholders. BLU has set the close of business on November 19, 2010 as the record date for the special meeting of shareholders of the BLU to consider the reorganization. It is currently anticipated that proxy materials regarding the reorganization will be distributed to BLU’s shareholders later this year or in early 2011 and that the special meeting will be held during the first quarter of 2011.
Blue Coat Systems, Inc. (Nasdaq:BCSI)
Brocade (Nasdaq:BRCD) and BCSI, the technology leader in Application Delivery Networking, this week announced the industry’s first proactive and tightly integrated health monitoring capabilities specific to Web caching. This solution is designed to help telecommunications carriers better manage the spiraling bandwidth demands due to the proliferation of Web 2.0 rich media content, especially large data files and online video, and control backhaul costs.
Using Brocade ServerIron ADX application delivery controllers (NYSE:ADC) in conjunction with Blue Coat CacheFlow 5000 appliances, service providers have the unique ability to reduce bandwidth consumption by up to 50 percent on Web traffic and to create a buffer to defend their network against unpredicted traffic spikes that can occur with certain Web events or with substantial increases in demand for popular content, such as major news occurrences or coverage of sporting or political events.
Blue Dolphin Energy Company (Nasdaq:BDCO)
BDCO, an independent oil and gas company with operations in the Gulf of Mexico, recently reported financial results for the three and six month periods ended June 30, 2010.
For the three months ended June 30, 2010, BDCO announced a net loss of $369,937 on revenues of $483,591 compared to a net loss of $750,249 on revenues of $592,711 for the three months ended June 30, 2009. Despite a reduction in revenues from pipeline operations and oil and gas sales, BDCO decreased its net loss primarily as a result of lower pipeline operating and general and administrative expenses.
BDCO, through its subsidiaries, engages in the provision of pipeline transportation and related services for producers/shippers, and exploration and production of oil and gas in the United States. BDCO holds interests in oil and gas properties located in the western Gulf of Mexico off the Texas coast. BDCO was founded in 1986 and is based in Houston, Texas.
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