Vibrant Corporation Forms Joint Venture with German Firm
Vibrant Corporation, headquartered in Albuquerque, New Mexico, announces the formation of Vibrant GmbH located in Limburg, Germany. The new company is a joint venture between Vibrant Corporation and Hesselmann & K?hler Prozessautomation GmbH. The partnership will meet the stated needs of existing customers for enhanced support and reduced turn time in Western Europe. Vibrant also has offices in Sheffield, England.
Vibrant is a non-destructive testing (NDT) services company that applies a proprietary NDT technology called Process Compensated Resonance Testing (PCRT) to critical components in the aerospace and power generation industries. PCRT uses advanced vibration analysis to detect components with degraded structural integrity resulting from manufacturing or service related defects. "Aerospace is the most global of all businesses, and Vibrant is committed to delivering our testing services globally. We are excited to formalize our relationship with H&K in order to better serve our customers in the continental European aerospace market," said Lem Hunter, CEO of Vibrant Corporation.Thomas Kehler of H&K echoed Hunter's enthusiasm. "Our capability to build and deploy testing systems is second to none. That, coupled with Vibrant's application engineering expertise, makes for a successful combination of resources."
The third target for further exploration is the northward extension of the Kipalu Iron Formation, which runs north for an additional 17km from the northern most 2011 drill holes. Only two areas of iron formation outcrop have been examined along this trend. One occurs near the extreme north end of the property and another near the northwestern most 2011 drill holes. Exposures in both areas are comprised of Fe-rich argillite and dip towards the east. The Company plans to drill widely-spaced holes along this 17km trend.
In the coming weeks, the Company plans to begin advancing its technical knowledge of the Haig Inlet deposit by undertaking mineralogical and metallurgical studies. Canadian Orebodies is also pleased to announce the appointment of SGS in Lakefield to conduct metallurgical testing using samples taken from the Company's Haig Inlet project. The goal of the testing is to provide an analysis of weight recoveries and concentrate grades. This process is critical in helping to assess the overall quality of the product that would be produced from the project.
Singapore and India to Deepen Economic Partnership
Singapore and India have recently reaffirmed their bilateral ties and pledged further collaboration in the areas of science and technology as well as education. The pledge occurred during the second joint ministerial committee meeting between the Indian Prime Minister Manmohan Singh and Singapore's Minister of Foreign Affairs, K Shanmugam, in New Delhi, India.Singapore company registration specialist Rikvin is optimistic that the discussions following the meeting will pave the way for stronger economic ties between the two countries and benefit firms specializing in two focus areas discussed in the meeting i.e. education and science and technology. The discussions, when firmed up, may in turn boost employment for Singaporean as well as foreign professionals in these sectors.
Analysis by Rikvin shows that bilateral relations between India and Singapore has become stronger after both countries signed a Free Trade Agreement (FTA) called the Comprehensive Economic Cooperation Agreement (CECA) in 2005. As a result, trade between India and Singapore registered US$35 billion in 2011.Singapore has also emerged as one of the largest source of FDI inflow into India, amounting to US$15.67 billion between April 2000 and November 2011. This accounts for 10% of total FDI inflow to India.Deal of the Week: UHY set to move to America Tower.Conversely, India is Singapore's eighth largest foreign investor. According to figures from the Reserve Bank of India, the cumulative Indian FDI into Singapore was US$23.42 billion at the end of January 2012.
Singapore is also India's largest trade and investment partner in ASEAN, and in recent years has become a preferred location for company incorporation for Indian entrepreneurs keen on growing their business in the Asia Pacific region. There are currently approximately 4,000 Indian companies that have opted Singapore company formation, and trade observers claim may reach 6,000 over the next two to three years. According to a recent report by the Singapore Economic Development Board (EDB), Indian companies form the single largest foreign business community in Singapore. Other than strong bilateral relationships, Rikvin has recognized five factors that play a role including attracting Indian businesses, investors and professional to set up shop in the city-state i.e. 1) attractive Singapore corporate tax and personal income tax rates, 2) the ease of doing and setting up business in Singapore, 3) Singapore's extensive network of tax treaties (FTAs and DTAs), 4) absence of capital gains tax and 5) lower lending rates offered by banks in Singapore.
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JPMorgan, RBS Join Forum To Advise On Developing Yuan Center In London
-JPMorgan Chase & Co. (JPM) and Royal Bank of Scotland Group PLC (RBS.LN) are joining hands with five other banks to advise on the development of an offshore yuan center in London, people familiar with the situation said Tuesday.The participation of these large, international banks highlights their pursuit of a share of the fast-growing market for transactions and trading involving the Chinese currency.In January, the U.K. government and the Hong Kong Monetary Authority launched a joint private-sector forum to enhance cooperation and develop an offshore market for the Chinese currency.
Initially, representatives of financial institutions from both centers included five banks--HSBC Holdings PLC (HBC), Standard Chartered PLC (STAN.LN), Bank of China Ltd. (3988.HK), Deutsche Bank AG (DB) and Barclays PLC (BCS).JPMorgan and RBS, which have been active players in the offshore yuan market in Hong Kong and have significant presence in the London, joined the forum later, the people said.Hong Kong, designated by Beijing as the testing ground for its currency's internationalization, remains the major offshore market for the yuan. While offshore yuan trading in London--the world's biggest global currencies-trading center--is growing, it is still dwarfed by activity in Hong Kong.
Spot yuan trading in London has reached an estimated $680 million a day, compared with $2.7 billion in Hong Kong, according to a report published last month by the City of London Corp. The report also said that customer deposits in London totaled CNY35 billion, compared with CNY589 billion in Hong Kong at the end of last year.Hong Kong also is extending the operating hours of its yuan payments systems by the end of June, making it more convenient for yuan transactions to be settled in London.
The first meeting for the yuan forum is scheduled to be held in Hong Kong on May 22, with an agenda likely focusing on the two cities working closely in yuan trade clearing and settlement, yuan-denominated financial products and others, the people said.Cash Flow from Operating Activities and Adjusted EBITDA: EBITDA and Adjusted EBITDA are non-GAAP measures and are defined in the "Non-GAAP Financial Measures" section later in this press release. For the first quarter of 2012, Adjusted EBITDA was $146.5 million, an increase of 10% compared to $133.3 million for the first quarter of 2011. Net cash provided by operating activities for the first quarter of 2012 was $128.2 million, an increase over the $72.7 million reported for the same period of the prior year. Adjusted EBITDA and net cash provided by operating activities increased due to higher oil prices and higher production volumes, partially offset by higher costs principally related to acquisitions and lower natural gas and NGL prices.
Deal of the Week: UHY set to move to America Tower
UHY will move from its longtime home at 12 Greenway Plaza to America Tower at 2929 Allen Parkway early next year.The company, which provides accounting, tax and business consulting services, has leased 90,000 square feet on floors 17 through 20 in the 43-story tower. The lease begins in February.The Houston office employs about 400 and is headed by UHY Partner Rick Stein. The new office is part of the five-building American General Center campus. It is close to restaurants in the River Oaks, Washington Avenue and Montrose areas, and features such amenities as a gym, cafeteria, diner, barbershop and conference facilities.
"Everything you could ever want in a building environment is encompassed in that campus," said Anthony Squillante, managing director of Stream Realty Partners, which assisted UHY in finding the space.The new office will help the company with its goal of attracting and retaining talent, Squillante said.UHY's footprint will actually shrink from close to 93,000 square feet at Greenway Plaza, but the new space will be able to accommodate more people.Kane Biotech Develops New Pet Oral Care Product.The offices will be more conducive to collaboration and will make use of natural lighting for all employees, Squillante said.Bill Stone of Cushman & Wakefield of Texas represented the owner, American General Life Insurance Co. Other Stream Realty brokers representing UHY along with Squillante were Kyle Jacobs, John Pope, Jeremy Hunt and Chris Johnson.The Houston office was formerly known as UHY Mann Frankfort Stein & Lipp Advisors. Part of the UHY International network, UHY has 10 other offices in the United States, including one in Dallas.
They spent 6.4 percent more on quick service dining in 2011 than the previous year and nearly 30 percent more on economy lodging.At the same time, spending on fine dining and luxury hotels increased less than 1 percent and 1.9 percent, respectively.Joel Wartgow, senior director of CWT Solutions Group for the Americas, which does corporate travel consulting, says he sees more business travelers making the choice to pay for their own upgrades or perks."Travelers have to make a decision: Are they comfortable paying for that on their own, or (do they) accept the policy?"Two-thirds of travel managers have established per-diem allowances for meals and incidentals, according to the Global Business Travel Association. There's no data available showing how many business travelers exceed their per diems. But many Road Warriors acknowledge doing it regularly.
Kane Biotech Develops New Pet Oral Care Product
Kane Biotech Inc., a biotechnology company engaged in the development and commercialization of products that prevent and remove microbial biofilms announces that it has developed a pet oral care formulation with both antimicrobial and antibiofilm activity called StrixNB(TM). StrixNB not only inhibits biofilm (dental plaque) formation but also kills bacteria embedded in a preformed dental plaque.The pet oral care market in the US is estimated at $450 million per year. Dental disease is the number one oral disease in dogs and cats and over 95% of all dogs and cats will have dental disease. Bacteria in the mouth cavity form plaque and as the plaque builds up, the bacteria cause infection of the gum known as "gingivitis". If enough time passes, plaque hardens to form "tarter", which holds the infection to the tooth surface and helps push bacteria and debris under the gum line. Periodontitis is an infection of the tooth root, which ultimately results in infected teeth. When periodontal infection starts, these bacteria get into the pet's circulation system eventually leading to heart, liver, kidney, bone and joint disease.
The Company has successfully completed a number of studies on StrixNB, including (i) the in vitro efficacy against growth and plaque formation of Streptococcus mutans, Streptococcus sobrinus, Streptococcus gordonii, Streptococcus sanguis and Aggregatibacter actinomycetemcomitans. The formulation was effective against growth as well as plaque formation of all test organisms, (ii) comparison of anti-plaque efficacy with that of commercial pet oral care products with StrixNB exhibiting a superior performance, and (iii) palatability testing of the formulation on dogs of various ages, breeds and weights confirming that the product is palatable and acceptable.
The next step in the development of StrixNB pet oral care product is to complete a pilot dog efficacy study using the Veterinary Oral Health Council (VOHC) recommended test protocol. This study is currently underway."The StrixNB formulation is unique and novel and has both the antimicrobial and antibiofilm activity against oral disease-associated bacteria", stated Dr. Sri Madhyastha, Vice President of Research and Chief Scientific Officer of Kane Biotech." This broad-spectrum pet oral care product is very effective against bacteria associated with dental plaque, gingivitis and periodontitis.""Pet oral care is a valuable and growing market with currently marketed products having marginal or no effect on dental plaque embedded bacteria", stated Mr. Gord Froehlich, President and CEO of Kane Biotech. "With the humanization of pet care and a high unmet need for new products, this market represents a very good opportunity for our pet oral care product."
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