Enlisted Airmen selected for 2017 nursing program


Almost three dozen active-duty enlisted Airmen have been selected for the 2017 Nurse Enlisted Commissioning Program following the April 17-19, 2017, selection board at the Air Force Personnel Center.

The board met to review records and identify the top applicants for a commissioning opportunity in this critical career field, said Tech. Sgt. Michael McCabe, the Nurse Career Management branch NCO in charge. This year, 35 Airmen were selected.

„Qualified, dedicated nurses are critical to the military and civilian communities,” McCabe said. “Candidates go through rigorous screening to identify those who are ready for the responsibility and highly likely to succeed in the school and career field.

Airmen selected will attend nursing school full-time this fall, allowing them to focus on their education. They’ll earn a baccalaureate degree in nursing at a college or university with an Air Force Reserve Officer Training Corps detachment or a college or university with a „cross-town agreement,” and attend school year-round in a resident-based program for up to 24 consecutive calendar months, to include summer sessions.

“While they’re in school, NECP students receive all pay and allowances,” McCabe said. “In addition, senior airmen selected are promoted to staff sergeant prior to starting the program.”

After graduating, Airmen who pass the National Council Licensure Examination and receive their nursing licenses will be commissioned as second lieutenants. They will then attend Commissioned Officer Training and the Nurse Transition Program, and move to a final assignment location.

The next board will convene in April 2018, with updated eligibility information available this fall.

For the selection list and most recent application instructions and requirements, visit myPers. Select “Active Duty Enlisted” from the dropdown menu and search “NECP.”

For more information about Air Force personnel programs, go to myPers. Individuals who do not have a myPers account can request one by following the instructions on the

GameStop to shutter up to 225 stores

By Beki Winchel and Kevin Allen | Posted: March 29, 2017

It’s not just clothing retailers: GameStop—the company that brought video game buy-back mainstream—is also falling upon hard times.

It recently announced that it will close 150 to 225 of its 7,500 stores following a major drop in sales.

The announcement was buried in a short paragraph in the company’s news release, entitled: “ GameStop Reports Sales and Earnings for Fiscal 2016 and Provides 2017Outlook”:

In 2017, the Company anticipates that it will open approximately 35 new Collectibles stores globally, and approximately 65 new Technology Brand stores. The Company also anticipates that it will close between 2% to 3% of its global store footprint.

The company reported a nearly 30 percent drop in hardware sales and close to 20 percent drop in software sales in the previous quarter, according to its most recent earnings statement. Overall, sales fell nearly 14 percent.

[White paper: How to break bad news to staff and take tough questions head-on.]

In a jargon-laden statement containing terms such as “maximizing free cash flow” and “rationalizing our global store portfolio,” GameStop’s chief executive said the company is pivoting to focus on non-gaming sales:

Paul Raines, chief executive officer, stated, “GameStop’s transformation continued to take hold in 2016, as our non-gaming businesses drove gross margin expansion and significantly contributed to our profits. Meanwhile, the video game category was weak, particularly in the back half of 2016, as the console cycle ages. Looking at 2017, Technology Brands and Collectibles are expected to generate another year of strong growth, and new hardware innovation in the video game category looks promising. As we continue our transformation plan, we will also be focused on managing SG&A spend, rationalizing our global store portfolio, and maximizing free cash flow generation to drive shareholder value.”

The company faces increased threats from online retailers and brick-and-mortar competition.

The closures caused some reporters to wonder whether this signifies the end of brick-and-mortar video game stores. However, The Verge’s Andrew Liptak reported that the focus on collectibles seems to be a wise business and marketing move:

Despite … those losses, there were some bright points, and GameStop appears to be pivoting to adjust. The company saw its sales rise by 27.8 percent when it came to collectibles, particularly with pokémon-related toys and apparel.

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Golden Star Enters into Financing Facility

TORONTO, March 30, 2017 /PRNewswire/ – Golden Star Resources Ltd. (NYSE MKT: GSS; TSX: GSC; GSE: GSR) (“Golden Star” or the “Company”) announces that its subsidiary, Golden Star (Wassa) Limited (“GSWL”), has signed a commitment letter for a $25 million secured loan facility (the “Facility”) with Ecobank Ghana Limited (“Ecobank”).

GSWL has twelve months from the date of the commitment letter to drawdown the Facility, if it wishes to do so, and the Facility will be repayable within 60 months of initial drawdown. There are no early prepayment penalties. Interest on amounts drawn under the Facility would be payable monthly at three month LIBOR plus a spread of 8.0% payable in arrears.

The Company anticipates that any drawdowns from the Facility would be used for general working capital purposes.

Sam Coetzer, President and Chief Executive Officer of Golden Star, commented:

“Arranging this financing facility is another building block in Golden Star’s transition into a low risk, mid-tier gold producer. We are continuing to strengthen the Company on all fronts and ensuring we have access to low cost capital in advance of any such need is part of this process.”

All monetary amounts refer to United States dollars unless otherwise indicated.

Company Profile

Golden Star is an established gold mining company that owns and operates the Wassa and Prestea mines situated on the prolific Ashanti Gold Belt in Ghana, West Africa. Listed on the NYSE MKT, the TSX, and the GSE, Golden Star is strategically focused on increasing operating margins and cash flow through the development of its two high grade, low cost underground mines both in conjunction with existing open pit operations. The Wassa Underground Gold Mine commenced commercial production in January 2017 and the Prestea Underground Gold Mine is expected to achieve commercial production in mid-2017. Gold production in 2017 is expected to be 255,000-280,000 ounces with cash operating costs of $780-860 per ounce.

Cautionary note regarding forward-looking information

Some statements contained in this news release are “forward looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. . Forward looking statements and information include, but are not limited to, statements and information regarding: the use of drawdowns under the Facility; the timing of the commencement of commercial production at the Prestea Underground Gold Mine; 2017 production guidance; and the ability to transition into a high grade, low cost producer. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks, assumptions and uncertainties that could cause actual facts to differ materially. Factors that could cause actual results to differ materially include: risks related to international operations, including economic and political instability in foreign jurisdictions in which Golden Star operates; risks related to current global financial conditions; actual results of current exploration activities; environmental risks; future prices of gold; possible variations in mineral reserves, grade or recovery rates; mine development and operating risks; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and risks related to indebtedness and the service of such indebtedness. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in Management’s Discussion and Analysis of financial conditions and results of operations for the year ended December 31, 2016. Additional and/or updated factors will be included in our annual information form for the year ended December 31, 2016 which will be filed on SEDAR at www.sedar.com. The forecasts contained in this press release constitute management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.

SOURCE Golden Star Resources Ltd.

Lannett Voluntarily Pays Down Additional $25 Million Of Revolving Credit Facility

PHILADELPHIA, March 30, 2017 /PRNewswire/ — Lannett Company, Inc. (NYSE: LCI) today announced that the company voluntarily made a $25 million payment against its existing revolving credit facility.

“This $25 million payment, combined with the $75 million payment we made earlier this year in January, will save us approximately $5.5 million in annualized cash interest expense, at current rates” said Arthur Bedrosian, chief executive officer of Lannett.  “Our business is solid and we continue to generate strong cash flows, which has allowed us to further reduce our outstanding debt.”

About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications.  For more information, visit the company’s website at www.lannett.com.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance.  Any such statements, including, but not limited to, continuing to reduce outstanding debt, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, including acquired products, and Lannett’s estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company’s Form 10-K and other documents filed with the Securities and Exchange Commission from time to time.  These forward-looking statements represent the company’s judgment as of the date of this news release.  The company disclaims any intent or obligation to update these forward-looking statements.


Robert Jaffe

Robert Jaffe Co., LLC

(424) 288-4098


SOURCE Lannett Company, Inc.

Lindsay Corporation Reports Fiscal 2017 Second Quarter Results

OMAHA, Neb.–(BUSINESS WIRE)–Lindsay Corporation (NYSE: LNN), a leading provider of irrigation systems and infrastructure products, today announced results for its second quarter ended February 28, 2017.

Second Quarter Results

Second quarter fiscal 2017 revenues were $124.1 million compared to revenues of $120.6 million in the prior year’s second quarter. Net earnings for the quarter were $5.0 million or $0.47 per diluted share compared with a net loss of $4.1 million or $0.37 per diluted share in the second quarter of the prior year. The prior year period included $13.0 million of environmental remediation expenses which, on an after-tax basis, reduced net earnings by $8.5 million, or $0.78 per diluted share.

Irrigation segment revenues for the second quarter increased three percent to $106.2 million from $103.1 million in the prior year’s second quarter. U.S. irrigation revenues of $61.5 million declined 15 percent, as harsh winter weather conditions in the Northwest resulted in lower irrigation equipment unit volume and lower revenue from other irrigation businesses. International irrigation revenues were $44.7 million, an increase of 46 percent compared to the second quarter of the prior year, driven primarily by improved demand and project activity in South America, Africa and the Commonwealth of Independent States region. Infrastructure segment revenues for the second quarter increased two percent to $17.9 million, as increased demand for road safety products and higher Road Zipper® system sales and lease revenue was offset in part by a decline in sales volume for rail products.

Gross margin for the second quarter of fiscal 2017 was 26.5 percent of sales compared to 26.9 percent of sales in the prior year’s second quarter. Improved margin in the infrastructure segment was more than offset by lower margin in the irrigation segment, as improved U.S. irrigation margin was offset by a higher mix of international revenue at comparatively lower margins. Improved infrastructure margin resulted from increased cost absorption in Road Zipper® system production and volume leverage from road safety product sales.

Operating expenses for the second quarter of fiscal 2017 were $24.4 million, a decrease of $12.7 million compared to the second quarter in the prior year. Excluding the impact of the environmental remediation expenses in the prior year’s second quarter, operating expenses were slightly higher in the current year primarily due to increased new product development and testing costs. Operating expenses were 19.7 percent of sales in the second quarter of fiscal 2017 compared with 30.8 percent of sales in the second quarter of the prior year. Operating margins were 6.9 percent in the second quarter of fiscal 2017, unchanged compared to the second quarter of the prior year after excluding the environmental expenses.

Cash and cash equivalents at the end of the second quarter were $102.8 million compared to $101.2 million at the end of the prior fiscal year and $89.5 million at the end of the prior year’s second quarter. There were no share repurchases made during the second quarter of fiscal 2017. A total of $63.7 million remains available under the Company’s share repurchase program as of February 28, 2017.

The backlog of unshipped orders at February 28, 2017 was $62.3 million compared with $52.6 million at February 29, 2016. Order backlogs were improved in both the irrigation and infrastructure in comparison to the prior year.

Six Month Results

Total revenues for the six months ended February 28, 2017 were $234.5 million, a decrease of three percent compared to $242.2 million in the same prior year period. Net earnings were $5.9 million or $0.55 per diluted share compared with $2.8 million or $0.25 per diluted share in the prior year.

Irrigation segment revenues decreased four percent to $196.1 million for the six months ended February 28, 2017 from $204.4 million in the same prior year period, as U.S. irrigation revenues of $111.8 million decreased 15 percent and international irrigation revenues of $84.3 million increased 16 percent. Infrastructure segment revenues increased two percent to $38.4 million for the six months ended February 28, 2017, as increased demand for road safety products was offset in part by a decline in sales volume for rail products.


Rick Parod, President and Chief Executive Officer, commented, “In the irrigation segment, orders and project levels improved in the second quarter after experiencing a slow start to the year in the first quarter. Strong sales growth in international irrigation reflects improving demand and increased project activity. I am pleased with the U.S. irrigation gross margin improvement achieved, especially in view of raw material inflation experienced in the quarter. In the infrastructure segment, second quarter revenues were modestly improved over the prior year in a seasonally lower period, and we continue to see improved operating performance in the segment.”

Parod continued, “We are currently in the midst of the primary selling season for irrigation equipment in North America where overall market conditions, affected by lower commodity prices and reduced farm incomes, are resulting in seasonal demand similar to the prior year. I am encouraged by the improving activity levels we are seeing in the international irrigation and infrastructure markets. The longer-term drivers for our markets of population growth, expanded food production and efficient water use, and infrastructure upgrades and expansion support our expectations for growth.”

Second-Quarter Conference Call

Lindsay’s fiscal 2017 second quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (888) 321-8161 in the U.S., or (706) 758-0065 internationally, and referring to conference ID # 90564253. Additionally, the conference call will be simulcast live on the Internet, and can be accessed via the investor relations section of the Company’s Web site, www.lindsay.com. Replays of the conference call will remain on our Web site through the next quarterly earnings release. The Company will have a slide presentation available to augment management’s formal presentation, which will also be accessible via the Company’s Web site.

About the Company

Lindsay manufactures and markets irrigation equipment primarily used in agricultural markets which increase or stabilize crop production while conserving water, energy, and labor. The Company also manufactures and markets infrastructure and road safety products under the Lindsay Transportation Solutions trade name. At February 28, 2017, Lindsay had approximately 10.7 million shares outstanding, which are traded on the New York Stock Exchange under the symbol LNN.

For more information regarding Lindsay Corporation, see the Company’s Web site at www.lindsay.com.

Concerning Forward-looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” „expect,” „outlook,” „could,” „may,” „should,” “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

Lindsay Corporation and Subsidiaries


Three months ended Six months ended
(in thousands, except per share amounts)

February 28,

February 29,

February 28,

February 29,

Operating revenues $ 124,125 $ 120,573 $ 234,515 $ 242,195
Cost of operating revenues   91,184     88,128     173,200     175,336  
Gross profit   32,941     32,445     61,315     66,859  
Operating expenses:
Selling expense 10,132 10,363 20,114 20,355
General and administrative expense 10,230 23,028 21,585 32,043
Engineering and research expense   4,057     3,748     8,359     7,407  
Total operating expenses   24,419     37,139     50,058     59,805  
Operating income (loss) 8,522 (4,694 ) 11,257 7,054
Interest expense (1,201 ) (1,201 ) (2,410 ) (2,397 )
Interest income 171 229 336 393

Other income (expense), net

  144     (527 )   (212 )   (847 )
Earnings (loss) before income taxes 7,636 (6,193 ) 8,971 4,203
Income tax expense (benefit)   2,624     (2,064 )   3,086     1,388  
Net earnings (loss) $ 5,012   $ (4,129 ) $ 5,885   $ 2,815  
Earnings (loss) per share:
Basic $ 0.47 $ (0.37 ) $ 0.55 $ 0.25
Diluted $ 0.47 $ (0.37 ) $ 0.55 $ 0.25
Shares used in computing earnings (loss) per share:
Basic 10,657 11,024 10,647 11,142
Diluted 10,674 11,024 10,670 11,163
Cash dividends declared per share $








Lindsay Corporation and Subsidiaries
February 28, February 29, August 31,
(in thousands) 2017 2016 2016
Current assets:
Cash and cash equivalents $ 102,825 $ 89,522 $ 101,246
Restricted cash 2,028 2,030
Receivables, net 78,828 79,225 80,610
Inventories, net 82,847 82,078 74,750
Prepaid expenses 5,208 4,418 3,671
Other current assets   15,968     12,802     14,468  
Total current assets   285,676     270,073     276,775  
Property, plant and equipment, net 75,632 78,916 77,627
Intangibles, net 44,890 49,475 47,200
Goodwill 76,577 76,628 76,803
Deferred income tax assets 3,094 3,108 4,225
Other noncurrent assets, net   4,747     5,070     4,885  
Total assets $ 490,616   $ 483,270   $ 487,515  
Current liabilities:
Accounts payable $ 44,254 $ 36,371 $ 32,268
Current portion of long-term debt 199 195 197
Other current liabilities   46,350     47,971     55,395  
Total current liabilities   90,803     84,537     87,860  
Pension benefits liabilities 6,708 6,431 6,869
Long-term debt 116,876 117,075 116,976
Deferred income tax liabilities 1,678 1,020 1,223
Other noncurrent liabilities   20,995     22,588     23,020  
Total liabilities   237,060     231,651     235,948  
Shareholders’ equity:
Preferred stock
Common stock 18,746 18,713 18,713
Capital in excess of stated value 59,002 55,908 57,338
Retained earnings 466,630 455,535 466,926
Less treasury stock – at cost (277,238 ) (261,118 ) (277,238 )
Accumulated other comprehensive loss, net   (13,584 )   (17,419 )   (14,172 )
Total shareholders’ equity   253,556     251,619     251,567  
Total liabilities and shareholders’ equity $ 490,616   $ 483,270   $ 487,515  
Lindsay Corporation and Subsidiaries


(in thousands) Six months ended

February 28,

February 29,

Net earnings $ 5,885 $ 2,815

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization 8,120 8,536
Provision for uncollectible accounts receivable (609 ) (1,103 )
Deferred income taxes 1,707 (4,163 )
Share-based compensation expense 1,815 1,534
Other, net (594 ) 1,828
Changes in assets and liabilities:
Receivables 2,710 (5,220 )
Inventories (7,368 ) (8,094 )
Other current assets 3,375 (1,779 )
Accounts payable 11,926 (2,247 )
Other current liabilities (8,135 ) (5,273 )
Current taxes payable (5,987 ) (3,641 )
Other noncurrent assets and liabilities   (2,123 )   11,833  
Net cash provided by (used in) operating activities   10,722     (4,974 )
Purchases of property, plant and equipment (4,194 ) (7,392 )
Proceeds from settlement of net investment hedges 2,054 2,317
Payments for settlement of net investment hedges (482 ) (512 )
Other investing activities, net   136     1,073  
Net cash used in investing activities   (2,486 )   (4,514 )
Proceeds from exercise of stock options 647 113
Common stock withheld for payroll tax withholdings (635 ) (712 )
Principal payments on long-term debt (98 ) (96 )
Repurchase of common shares (32,215 )
Dividends paid   (6,181 )   (6,183 )
Net cash used in financing activities   (6,267 )   (39,093 )
Effect of exchange rate changes on cash and cash equivalents   (390 )   (990 )
Net change in cash and cash equivalents 1,579 (49,571 )
Cash and cash equivalents, beginning of period   101,246     139,093  
Cash and cash equivalents, end of period $ 102,825   $ 89,522  

ReneSola Connects 10MW of Ground-mount Solar Projects to UK Grid

SHANGHAI, March 30, 2017 /PRNewswire/ — ReneSola Ltd („ReneSola” or the „Company”) (www.renesola.com) (NYSE: SOL), a leading fully-integrated solar project developer and provider of energy-efficient products, today announced the completion and grid connection of two ground-mount projects in the United Kingdom. These projects have a combined capacity of approximately 10 MW. ReneSola managed the design and construction of these projects, and will provide ongoing operation and maintenance services until final acceptance.

These two projects are located in North Yorkshire and Shropshire.  Both projects are qualified under the 1.2 Renewable Obligations Certificate (ROC) program.

Xianshou Li, ReneSola’s Chief Executive Officer, said, „The United Kingdom remains one of our key developed markets for our downstream project business, and we are proud of the continued execution of our downstream strategy in the region. The successful grid connection of these projects solidified our competitive positon in developing downstream projects, and we look forward to driving incremental project development globally.”

About ReneSola

Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand and technology provider of energy efficient products. Leveraging its global presence and expansive distribution and sales network, ReneSola is well positioned to provide its highest quality green energy products and on-time services for EPC, installers, and green energy projects around the world. For more information, please visit www.renesola.com.

Safe Harbor Statement

This press release contains statements that constitute „forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it „believes,” „plans,” „expects” or „anticipates” will occur, what „will” or „could” happen, and other similar statements), you must remember that the Company’s expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company’s situation may change in the future.

For investor and media inquiries, please contact:

In China:

ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106

The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480

In the United States:

The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195

SOURCE ReneSola Ltd.

TopBuild Acquires Capital Insulation

Residential Insulation

DAYTONA BEACH, Fla., March 30, 2017 /PRNewswire/ — TopBuild Corp. (NYSE: BLD) the leading purchaser, installer and distributor of insulation products to the U.S. construction industry, has acquired Capital Insulation, a residential insulation company based in Sacramento, California. For the trailing twelve months ended December 31, 2016, Capital Insulation generated approximately $7.0 million in annual revenue.

Jerry Volas, Chief Executive Officer of TopBuild stated, “Capital Insulation is a solid addition to TruTeam and strengthens our position in this growing market.  The three owners, Jeff Cable, Erik Steiger and Chris Ammons, have extensive sales and operating experience and long-term relationships with builders in the area and they all plan to remain with our Company to focus on the continued expansion of our business in this region.” 

About TopBuild
TopBuild Corp., headquartered in Daytona Beach, Florida, is the leading purchaser, installer and distributor of insulation products to the U.S. construction industry. We provide insulation services nationwide through TruTeam®, which has over 175 branches and our Service Partners® business distributes insulation from over 70 branches.  We leverage our national footprint to gain economies of scale while capitalizing on our local market presence to forge strong relationships with our customers.  To learn more about TopBuild please visit our website at www.topbuild.com.

Investor Relations and Media Contact
Tabitha Zane

SOURCE TopBuild Corp.

NextGenTel Holding ASA – Mandatory Notification of Trade

OSLO, Norway, Mar 30, 2017 /PRNewswire/ —

Ole Jacob Moldestad, CEO of Kvantel AS, has through his wholly owned company Aria Industrier AS, today purchased 20,000 shares in NextGenTel Holding ASA at an average price of NOK 24.74. After this transaction, Ole Jacob Moldestad controls 20,000 shares in NextGenTel Holding ASA.


IR contact:
Tom Nøttveit
Chief Financial Officer (CFO)
(+47) 4153-9714

This information was brought to you by Cision http://news.cision.com


Buckeye Partners, L.P. Announces Plans for a Long-Haul Permian-To-Corpus Christi Pipeline Binding Open Season and Further Development of Its South Texas Distribution Capabilities

HOUSTON, March 30, 2017 (GLOBE NEWSWIRE) — Buckeye Partners, L.P. (“Buckeye”) (NYSE:BPL) today announced that it is preparing for a binding open season in connection with the development of a new crude oil pipeline from the Permian Basin to Corpus Christi, Texas.  The pipeline is part of a series of potential investment projects Buckeye is pursuing in order to significantly enhance Permian Basin crude oil flows, including the construction of a crude oil distribution system in Corpus Christi to provide local refineries with access to new sources of supply and an expansion of its existing storage and marine terminalling assets along the Corpus Christi Ship Channel.“We are excited to announce these projects in response to strong interest from potential customers,” said Clark C. Smith, Buckeye’s Chairman, President and Chief Executive Officer. “The Permian Basin is one of the most prolific oil producing areas in the world and is a natural point of connectivity to enhance our existing assets in South Texas.  These assets, in turn, make Buckeye uniquely positioned to help customers maximize the value of their product.”The proposed new pipeline system, to be named South Texas Gateway, would deliver crude oil and condensate from origination points in Wink and Midland, Texas to the existing Buckeye Texas Partners LLC (“BTP”) refining and export facilities in Corpus Christi. The pipeline is currently expected to be 24 inches in diameter with a total capacity of up to 400,000 barrels per day with multiple segregations.In conjunction with the announcement of the South Texas Gateway project, Buckeye announced that it also is developing projects to expand its existing capabilities and create new connectivity throughout the Corpus Christi market. Those development projects consist of:Building a distribution system, to be named Buckeye Texas Market Center, which would enable crude oil deliveries from new and existing pipelines originating in the Eagle Ford Shale and the Permian Basin to refining and processing markets in Corpus Christi, enhancing overall market liquidity.Adding a fifth deep-water dock at the BTP facilities, capable of high-rate loading Suezmax-sized vessels, which would complement existing export and import capabilities.Expanding the storage capabilities at BTP’s Corpus Christi facilities to provide dedicated storage to shippers on South Texas Gateway and to BTP terminal customers.Evaluating, in addition to the South Texas Gateway project, a similar long-haul pipeline offering Permian Basin producers and processors a comprehensive system solution for natural gas liquid (NGL) takeaway to BTP’s existing export facilities in Corpus Christi.Buckeye currently plans to hold a binding open season for the South Texas Gateway pipeline during the third quarter of 2017 with the expectation that the pipeline will be in service in 2019.For more information about the projects and upcoming open season, please contact Robert Harris at rharris@buckeye.com or Justin Brymer at jbrymer@buckeye.com.  All investor and media inquiries should be directed to Kevin Goodwin at irelations@buckeye.com (800-422-2825).About Buckeye Partners, L.P.Buckeye Partners, L.P. (NYSE:BPL) is a publicly traded master limited partnership and owns and operates a diversified network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products.  Buckeye is one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline.  Buckeye also uses its service expertise to operate and/or maintain third-party pipelines and perform certain engineering and construction services for its customers.  Additionally, Buckeye is one of the largest independent terminalling and storage operators in the United States in terms of capacity available for service.  Buckeye’s terminal network comprises more than 120 liquid petroleum products terminals with aggregate storage capacity of over 115 million barrels across our portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States and in the Caribbean.  Buckeye’s network of marine terminals enables it to facilitate global flows of crude oil and refined petroleum products, offering its customers connectivity between supply areas and market centers through some of the world’s most important bulk storage and blending hubs.  Buckeye’s flagship marine terminal in The Bahamas, Buckeye Bahamas Hub, is one of the largest marine crude oil and refined petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products.  Buckeye’s Gulf Coast regional hub, Buckeye Texas Partners, offers world-class marine terminalling, storage and processing capabilities.  Buckeye is also a wholesale distributor of refined petroleum products in areas served by its pipelines and terminals.  Buckeye’s recent acquisition of a 50% equity interest in VTTI B.V. expands its international presence with premier storage and marine terminalling services for petroleum products in key global energy hubs, including Northwest Europe, the United Arab Emirates and Singapore.  More information concerning Buckeye can be found at www.buckeye.com.This press release includes forward-looking statements that we believe to be reasonable as of today’s date.  Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions.  Actual results may differ significantly because of risks and uncertainties that are difficult to predict and that may be beyond our control.  Among the forward-looking statements set forth in this press release are statements regarding our expectation of increasing quarterly distributions in the future.  These statements are subject to, among other risks, (i) changes in federal, state, local, and foreign laws or regulations to which we are subject, including those governing pipeline tariff rates and those that permit the treatment of us as a partnership for federal income tax purposes, (ii) terrorism and other security risks, including cyber risk, adverse weather conditions, including hurricanes, environmental releases, and natural disasters, (iii) changes in the marketplace for our products or services, such as increased competition, changes in product flows, better energy efficiency, or general reductions in demand, (iv) adverse regional, national, or international economic conditions, adverse capital market conditions, and adverse political developments, (v) shutdowns or interruptions at our pipeline, terminalling, storage, and processing assets or at the source points for the products we transport, store, or sell, (vi) unanticipated capital expenditures in connection with the construction, repair, or replacement of our assets, (vii) volatility in the price of liquid petroleum products, (viii) nonpayment or nonperformance by our customers, (ix) our ability to integrate acquired assets with our existing assets and to realize anticipated cost savings and other efficiencies and benefits, (x) our ability to realize the expected benefits of our investment in VTTI and (xi) our ability to successfully complete our organic growth projects and to realize the anticipated financial benefits.  You should read our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2016, for a more extensive list of factors that could affect results.  We undertake no obligation to revise our forward-looking statements to reflect events or circumstances occurring after today’s date except as required by law.Contact: Kevin J. Goodwin
Vice President & Treasurer
(800) 422-2825

Azure Power Wins Indian Railway’s Largest Rooftop Auction; Rooftop Portfolio Surpasses 100 MWs

NEW DELHI–(BUSINESS WIRE)–Azure Power (NYSE:AZRE), a leading solar power producer in India, announced that it has won 46 MWs of solar rooftop projects across eleven states pan India for Indian Railways. Indian Railways is the largest rail network in Asia and is owned and operated by the Government of India through the Ministry of Railways.

The power purchase agreement (PPA) will be signed with Indian Railways for their respective zones and coach factory for 25 years. The average tariff for the project is INR 4.63 (~USD 7 cents) per kWh with an additional capital incentive of INR 933.5 million (~US$ 14 million) upon commissioning

Out of the 46 MWs total allocation, 20 MWs has been allocated by Northern Railways division, 10 MWs by the Western Railways division, 10 MWs by the North-Central Railways division, 3 MWs by the North Western Railways division, and 3 MWs by the Rail Coach Factory division.

Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power said, “Azure has superior rooftop solar power solutions for infrastructure, commercial and industrial customers in cities across India to lower their energy costs and meet their greenhouse gas (GHG) emission reduction targets. We are pleased to partner with Indian Railways in reducing their GHG emissions through deployment of solar energy at their facilities across locations pan- India.”

With this win, Azure Power rooftop solar portfolio surpassed 100 MWs across 14 states in India. Azure Power recently announced the successful installation and operation of the first phase of its rooftop solar power plant for Delhi Metro Rail Corporation (DMRC). The 14 MW project is one of the largest allocations by DMRC to a solar power company. The project covers DMRC metro stations, workshops and parking lots. Azure Power’s rooftop customers also include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, DMRC and Delhi water supply company.

About Azure Power

Azure Power (NYSE:AZRE) is a leading solar power producer in India with a total portfolio of over 1,000 MWs across 18 states. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Azure Power has a strong track record in delivering solar power projects, from the construction of India’s first private utility scale solar PV power plant in 2009, implementation of the first MW scale rooftop under the smart city initiative in 2013, to the largest solar plant (100 MW) under India’s National Solar Mission (NSM) policy in Jodhpur, Rajasthan. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power manages the entire development and operation process, providing low-cost solar power solutions to customers throughout India.

For more information, visit: www.azurepower.com