Terex Corporation (NYSE:TEX) is a diversified global manufacturer operating in four business segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy and utility industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.
Terex reported that it has received clearance from the European Union to complete its previously announced purchase offer for Demag Cranes AG. With this approval, the final condition of closing has been met, and settlement of the purchase offer is anticipated to occur the week of August 15.
Demag Cranes AG will add a new business segment to Terex with world-class products in industrial cranes and hoists, port technology and service. Demag Cranes AG's business is highly complementary to the existing Terex's business, and the combination has compelling industrial logic, with a strong footprint in Europe and emerging markets.
Recently, Terex's wholly-owned subsidiary Terex USA, LLC has entered the wood chipper business through the acquisition of Woodsman LLC, a Michigan-based manufacturer of wood processing equipment.
The Woodsman product lines will be integrated into the Materials Processing segment of Terex, which is a major player in the crushing and screening industry globally. The business has a comprehensive line of hand fed chippers as well a portfolio of biomass chippers.
More about Terex Corporation at www.terex.com
Biomass renewable organic material such as wood and agricultural residues comprises the oldest and most prevalent energy resource. Even today, biomass is the world's most popular fuel for heating.
Wood waste is one of the most abundant, cost-competitive, and environmentally friendly biomass resources.
Currently the most cost-effective wood sources are residues from manufacturing and wood waste otherwise destined for landfills.
Manufacturers generate an enormous amount of waste residue in the process of making products such as lumber, furniture, pallets, and paper. In general, less than 50 percent of the tree ends up in a final product, and the balance represents a vast underutilized resource.
CLNO, Cleantech Transit, Inc., CLNO.OB
CLNO was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector.
Recent advances in the technology of converting wood waste into power, CLNO has selected to invest in Phoenix Energy (www.phoenixenergy.net), to focus exclusively on generating greater returns for manufacturing clients worldwide.
CLNO recently reported that it has met its funding requirement to secure the Company's ability to earn in 25% of the 500 KW Merced Project, a biomass-generated power plant that is fully constructed, owned and operated by Phoenix Energy.
CLNO is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation. As previously announced Cleantech Transit has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as it moves ahead.
The Merced Project has successfully passed its interconnection tests and is now connected to the utility distribution grid.
The Merced plant is expected to produce enough electricity to power about 400 homes. The plant connected to the electricity grid under California's feed-in-tariff with a 15-year power purchase agreement.
CLNO has expanded its focus to invest directly in specific green projects that can maximize shareholder value.
More about CLNO at www.cleantechtransitinc.com.
Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business, and Ocean Business), reported that it will release its second quarter 2011 financial results on Thursday, August 11, 2011, after the market closes.
Summit Financial Group, Inc. (Nasdaq:SMMF) reported that it is distributing free of charge to all holders of record of shares of its common stock as of 5:00 p.m., Eastern Time, on July 1, 2011, non-transferable subscription rights to purchase shares of its 8% Non-Cumulative Convertible Preferred Stock, Series 2011.
Home BancShares, Inc. (Nasdaq:HOMB), parent company of Centennial Bank, reported that it would participate as a presenter at the 2011 Raymond James Bank Conference to be held in Chicago, IL on August 10, 2011.
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