GenTek Inc. Announces Voluntary Term Loan Repurchase
PARSIPPANY, N.J., Dec. 17, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) announced that it has repurchased on the open market $7.6 million of its first lien term loans. The acquired debt will be cancelled similar to a voluntary loan pre-payment. This brings cumulative prepayments of its term debt over the past six months to $27.6 million. This voluntary prepayment reduces the current balance outstanding on the first lien term loans to $239.6 million. The Company currently has no balance outstanding on its revolving credit facility.
American Electric Technologies, Inc.
American Electric Technologies Announces Charge in Fourth Quarter 2007 Due to Cost Overruns
HOUSTON, Dec. 17, 2007 (PRIME NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI), the premium supplier of custom-designed power distribution and control solutions for the traditional and alternative energy industries, today announced that it will incur an after tax charge of $1,260,000 ($1,999,000 before tax) or $0.16 per share in the fourth quarter of 2007 due to estimated cost overruns on three fixed price light commercial contracts in its Electrical and Instrumentation Construction segment. The contracts will be completed prior to year-end and no additional overruns are expected.
Blyth, Inc. Announces New Share Repurchase Program
GREENWICH, Conn., Dec. 17, 2007 (PRIME NEWSWIRE) -- Blyth, Inc. (NYSE:BTH), a leading multi-channel designer and marketer of home fragrance products, home decor products and household convenience items, today announced a new 6.0 million share repurchase plan. The plan will commence upon the completion of the Company's existing plan of 12 million shares, of which 8.1 million shares have been repurchased at a cost of approximately $185 million as of October 31, 2007. The new authorization was approved at the December 13, 2007 Blyth Board of Directors meeting.
Component Changes Made to Dow Jones China Indexes
NEW YORK, Dec. 17, 2007 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced the results of a regular index review of the Dow Jones China Index Series (Dow-China Indexes). Component changes in the Dow Jones China Total Market (Dow-China Total Market), Dow Jones Shanghai (Dow-Shanghai), Dow Jones Shenzhen (Dow-Shenzhen), Dow Jones CBN China 600, and Dow Jones CBN China 600 Sector Blue-Chip indexes will be effective as of the open of trading on December 24, 2007.
Southern National Bancorp of Virginia, Inc.
Southern National Bancorp of Virginia, Inc. Listing Upgraded to NASDAQ Global Select Market
CHARLOTTESVILLE, Va., Dec. 17, 2007 (PRIME NEWSWIRE) -- Southern National Bancorp of Virginia, Inc. (Nasdaq:SONA) today announced the approval of its application to upgrade its exchange listing to the NASDAQ Global Market from NASDAQ Capital Market. The Company's shares will begin trading on the Global Market at the open of trading on December 18, 2007, and will continue to be listed under the trading symbol of SONA.
The Wharton School of the University of Pennsylvania
PHILADELPHIA, Dec. 17, 2007 (PRIME NEWSWIRE) -- Today's corporate board members around the world face a host of increasing pressures and rapid changes. Directors are being held accountable in a wide range of areas, including strategic initiatives, compliance, and succession planning -- particularly important with CEO turnover rates up 70 percent over the past 10 years. To prepare directors for these challenges, the Wharton School of the University of Pennsylvania has partnered with Spencer Stuart, one of the world's leading executive search consulting firms, to jointly offer Corporate Governance Essentials for New Directors.
Globalstar, Inc. Announces $150 Million Financing
MILPITAS, Calif., Dec. 17, 2007 (PRIME NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, government and individuals, today announced that Thermo Funding Company LLC (which is controlled by Jay Monroe, Globalstar's Chairman and CEO) has assumed all of the obligations of the administrative agent and the lenders under Globalstar's credit agreement with Wachovia Investment Holdings, LLC and the other lenders parties thereto. In connection with this assignment and assumption, Thermo Funding and Globalstar have entered into an amended and restated credit agreement, pursuant to which Globalstar can borrow up to $150 million from Thermo Funding.
Northrop Grumman, L-3 to Work Together in Bid for U.S. Navy's EP-X Aircraft
EL SEGUNDO, Calif., Dec. 17, 2007 (PRIME NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) today submitted a proposal with L-3 Communications (NYSE:LLL) for the U.S. Navy's EP-X aircraft program in a world-class collaboration of industry leaders. The EP-X platform will provide a transformational, multi-intelligence capability delivering strike targeting information to the warfighter.
MELBOURNE, Fla., Dec. 17, 2007 (PRIME NEWSWIRE) -- Northrop Grumman Corporation's (NYSE:NOC) KC-30 Tanker team will generate economic activity exceeding $360 million annually and support more than 7,500 direct and indirect jobs in California if the KC-30 Tanker aircraft is selected by the U.S. Air Force.
FAIRFIELD, Conn., Dec. 17, 2007 (PRIME NEWSWIRE) -- You've been busy. You haven't focused. And now you're late. As the end of the corporate gift-giving season looms, maybe you should just slow down and let your heart be your guide for client and customer gifts in 2007. So why not give a gift that helps make things a little better for someone, somewhere in the world, who can really use the help this year?
