Environmental Services
Biancamano SpA Announces Merger by Incorporation of Subsidiaries Ponticelli Srl into Aimeri Ambiente Srl
Biancamano SpA announced that the Boards of Directors of Aimeri Ambiente Srl and Ponticelli Srl approved on October 26, 2012 the merger by incorporation of Ponticelli into Aimeri Ambiente. Biancamano holds 99.9827% of Aimeri Ambiente and Giovanni Battista Pizzimbone, Biancamano's Chairman and Chief Executive Officer, holds the remaining 0.0173%. Biancamano controls 95% of Ponticelli, while Aimeri Ambiente holds the remaining 5%. In order for the merger of Ponticelli into Aimeri Ambiente can take place in simplified form pursuant to Art. 2505 of the Italian Civil Code, the Biancamano Board of Directors also resolved to acquire the remaining 0.0173% share Giovanni Battista Pizzimbone holds. Considering that the Aimeri Ambiente and Ponticelli will be controlled 100% by the same party at the time of merger, there will be no exchange ratio between the shares of the merging company and those of the merged company. The consideration for sale of Giovanni Battista Pizzimbone's shareholding in Aimeri Ambiente has been established equal to the corresponding fraction of the book value of the shareholding in the separate financial statements of Biancamano (cost) totaling EUR 2,800.
Lassila & Tikanoja Oyj Updates on 2013-2016 Reorganization Strategy
Lassila & Tikanoja Oyj (L&T) announced that it is renewing the Company strategy for 2013-2016. L&T will reorganize its business divisions and reporting segments to support the shift in core business focus and priorities. As of January 1, 2013, L&T’s reporting segments will be: Environmental Services division consisting of the waste management and recycling business; Industrial Services division covering solutions for industrial material flows and their utilization, industrial process cleaning solutions, collection and disposal of hazardous waste, and sewer system maintenance and repair solutions (these services are currently included in the Environmental Services division), as well as Facility Services division consisting of the current Cleaning and Office Support Services and Property Maintenance divisions. Renewable Energy Sources (L&T Biowatti) will no longer be included in L&T's core business portfolio. Profitability improvement will now be the main priority in this segment. For the strategy period 2013-2016, L&T’s priorities include organic growth in core businesses, and profitability and ROI improvement. L&T’s new financial targets are: organic growth of more than 5% a year, operating profit of 9%, Return on Investment (ROI) of 20% and gearing of between 30% and 80%.
United Envirotech Ltd Announces Liquidation Of Dormant Subsidiary
United Envirotech Ltd announced that it is liquidating its dormant subsidiary, Novo Envirotech (Neijiang) Co. Ltd., a company incorporated in China.
China Environment Ltd Announces De-registration Of Dormant Subsidiary
China Environment Ltd announced that its subsidiary, Gates Electronics (Shanghai) Trading Co., Ltd. a dormant company which is wholly-owned by the Company’s wholly-owned subsidiary, Infinitron Asia Limited, has been de-registered.
Lassila & Tikanoja Oyj to Launch Efficiency Enhancement Program to Improve Profitability
Lassila & Tikanoja Oyj announced that it is launching a new operational enhancement program to improve its profitability and to adapt operations to the current market environment. The planned actions are estimated to improve profitability at least by EUR 4 million annually, over half of this in 2012. The program involves fixed cost cuts, price increases, holiday pay arrangements and other efficiency improvement measures. Lassila & Tikanoja Oyj will record approximately EUR 1.0 million in non-recurring adjustment costs associated with the program for the second quarter of 2012.
Tomra Systems ASA Brings All Companies Together Under One Brand-Reuters
Reuters reported that Tomra Systems ASA is to bring together all its companies under one brand. The various daughter companies will be gathered within two business areas: Collection Solutions, comprised of Reverse Vending (TOMRA) headed by Hakon Volldal and Compaction (Orwak) headed by Stefan Ek, and Sorting Solutions, comprised of Recycling (TITECH), Mining (CommodasUltrasort), and Food (Odenberg), headed by Rune Marthinussen.
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Sector Summary
| Energy |  +0.48% |
| Basic Materials |  -0.12% |
| Industrials | +0.58% |
| Cyclical Goods & Services | +0.61% |
| Non-Cyclical Goods & Services | +0.09% |
| Financials | +0.60% |
| Healthcare | +0.35% |
| Technology | +0.66% |
| Telecoms | +0.59% |
| Utilities | +0.66% |
| DOW | 15,318.23 | +138.38 |
+0.91% |
| S&P 500 | 1,651.81 | +12.77 |
+0.78% |
| NASDAQ | 3,482.18 | +30.05 |
+0.87% |
| TR US Index | 149.80 | +1.16 |
+0.78% |
Analyst Research
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Provider: Edison Investment Research
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Provider: Edison Investment Research
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Provider: Edison Investment Research
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Provider: Edison Investment Research
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$10.00
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