latest news releases from the newsroom
Apria Healthcare Group Inc.
Apria Healthcare Names New President of Coram Specialty Infusion Services Division
LAKE FOREST, Calif., April 7, 2008 (PRIME NEWSWIRE) -- Apria Healthcare Group Inc. (NYSE:AHG) today announced the appointment of Daniel E. Greenleaf to lead its Coram Specialty Infusion Services division as President, replacing John Arlotta, who, as previously announced during Apria's December 2007 acquisition of Coram, Inc., is scheduled to depart the organization in June 2008. Mr. Greenleaf will be based in the Coram division office located in Denver, Colorado.
USA Recycling Industries, Inc.
Voyager Petroleum Announces Acquisition of Detroit Processing Facility
HINSDALE, Ill., April 7, 2008 (PRIME NEWSWIRE) -- Voyager Petroleum Inc. (OTCBB:VYGO) (Frankfurt:DXD) is pleased to announce that it has acquired the Detroit facility through its wholly-owned subsidiary, 600 S. Deacon LLC. The facility is 20,000 square feet and is located on 3.5 acres. It encompasses a processing plant, warehouse space, quality-control laboratory, and offices with railroad access and multiple loading docks. The processing plant houses 22 outside storage tanks and 32 inside storage tanks, some with heating capabilities, for a total storage capacity of over 700,000 gallons. Monarch Petroleum, Voyager's wholly-owned subsidiary, operates the 20,000 sq. ft. Detroit facility using its own process for reclaimed used oils to produce petroleum and other lubricants in an economically, environmentally, and what we believe to be a socially responsible manner. The United States generates approximately 1.4 billion gallons of recoverable used oil every year according to America's Choice, the website of Safety-Kleen, a major United States re-refinery. Voyager seeks to establish itself as a premier service provider to various manufacturers, distributors, blenders, and packagers, using its own process for reclaimed used oil. The Company intends to process for or purchase reclaimed used oil from various consolidators of used petroleum. The company expects to capitalize on the demand for recycled lubricants through its own process and available capacity by market penetration, customer retention and cost reductions for its potential customers.
Industrial Distribution Group, Inc.
Industrial Distribution Group, Inc. Considers Unsolicited Acquisition Proposals
ATLANTA, April 7, 2008 (PRIME NEWSWIRE) -- Industrial Distribution Group, Inc. ("IDG" or the "Company") (Nasdaq:IDGR), a leading nationwide supplier of maintenance, repair, operating and production (MROP) products and Flexible Procurement Solutions(tm) services to manufacturers and other industrial users, announced today that its Board of Directors has determined to consider whether either of two recently-received, unsolicited acquisition proposals -- one with a proposed price of $11.70 per share, and the other with a proposed price of $11.00 per share, in cash to the Company's stockholders -- will result in a superior transaction relative to the previously announced proposed merger with an affiliate of Platinum Equity Advisors, LLC ("Platinum Equity") at a price of $10.30 per share in cash to the Company's stockholders. As discussed in more detail below, the Board of Directors has determined that each of the two proposals is credible and could reasonably lead to a superior transaction, and that fiduciary duties require the Board of Directors to permit both bidders to conduct due diligence and require the Company to discuss the respective proposals with the bidders.
Wall Street Reporter Magazine
Looking for Tomorrow's Market All-Stars? Wall Street Reporter Updates On LWAY, CHHL, RTWW
NEW YORK, April 7, 2008 (PRIME NEWSWIRE) -- Like most investors, Mario Gabelli and Laura Linehan of GAMCO Westwood Mighty Mites (WEMMX) are always on the hunt for up-and-coming stocks that are in the little leagues today but may grow up to be all-stars tomorrow: current contenders include players like Lifeway Foods Inc. (Nasdaq:LWAY).
Quanex Building Products Corporation
Quanex Announces Agreement On $270 Million Revolving Credit Facility for Quanex Building Products Corporation
HOUSTON, April 7, 2008 (PRIME NEWSWIRE) -- Quanex Corporation (NYSE:NX), an industry-leading manufacturer of value-added engineered materials and components for the vehicular products and building products markets, today announced an agreement for a new $270 million senior unsecured revolving credit facility for Quanex Building Products Corporation, its wholly-owned subsidiary. The five-year agreement was negotiated with a syndicate of nine commercial banks and has an accordion feature to increase aggregate commitments over the five-year term to $350 million. Closing on the facility is contingent upon the execution of the spin-off of Quanex Building Products Corporation and other customary conditions, and will be used to support the strategic growth of the company.