latest news releases from the newsroom
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.
Dow Jones Indexes
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.
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 Corp.
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.