March 29, 2011
International Paper Announces Strategic Entry into India
Photo: International Paper’s Mansifled, LA, mill — one of six containerboard packaging mills the company operates in the U.S. (Courtesy of International Paper).
International Paper (NYSE: IP) has entered into agreements with Mr. L.N. Bangur, and related family members and affiliates to purchase approximately 53.5 percent of the outstanding shares of Andhra Pradesh Paper Mills Limited (NSE: APPAPER) for approximately US$257 million in cash. In addition, International Paper has agreed to a US$62 million non-compete payment to the sellers.
Once completed, the transaction will position International Paper as the first global paper and packaging company with a significant position in India’s fast growing economy.
“APPM is an established and highly respected company in India, and is an excellent platform for International Paper to grow with the Indian paper and packaging markets,” said John Faraci, chairman and chief executive officer of International Paper.
L.N. Bangur, executive chairman, Bangur Group, said, “We have built a strong business in India, and the next phase of growth requires a different set of resources and capabilities. International Paper is the right company to take the business forward and deepen maturity of the sector in India.”
The share purchase and public tender are expected to be completed as early as the third quarter of 2011, subject to regulatory and other approvals, including the Security and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), and, if applicable, the Competition Commission of India (CCI).
The Andhra Pradesh Paper Mills Limited (APPM), part of the Kolkata Based L.N . Bangur group, established in the year 1964, is a leading manufacturer of pulp and paper products and caters to both the domestic and foreign markets.
While, International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. It is the largest pulp and paper company in the world. Headquartered in Memphis, Tennessee, USA, the company employs about 59,500 people in more than 24 countries and serves customers worldwide.
Posted by Editors at 7:54 AM
November 26, 2009
Vancouver 2010 Olympic Winter Games: Panasonic to Deliver Full Lineup of HD Equipment
Photo: Vancouver 2010 Olympic Winter Games Mascots Quatchi, Sumi and Miga (© VANOC/COVAN).
Photo: Vancouver 2010 Olympic Winter Games Whistler Olympic Park (© VANOC/COVAN).
Photo: Panasonic to Deliver Full Lineup of HD Equipment to Vancouver 2010 Olympic Winter Games.
Panasonic Corporation, the Official Worldwide Olympic Partner in the Audio and Visual Equipment category for the Vancouver 2010 Olympic Winter Games, announced it is providing a full lineup of High-Definition (HD) equipment to support the broadcast of the Olympic Games; delivering the largest supply of AV equipment for any Winter Games in the company's history.
Through cooperation with the International Olympic Committee (IOC), the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) and Olympic Broadcasting Services Vancouver (OBSV), Panasonic will supply its HD video equipment to the competition venues and broadcasting locations, making the Vancouver Games the first Olympic Winter Games to be broadcast completely in HD format.
Following Beijing 2008, all international video signals for the 2010 Winter Games will be produced and distributed in HD format from the International Broadcasting Center (IBC) to rights-holding broadcasters around the world. In addition, the HD video signals will also be used for the first time for display on the LED Large Screen Display Systems in the competition venues and BC Place Stadium where the Opening and Closing Ceremonies will take place; making the 2010 Winter Games the first "HD Olympic Winter Games" with all the Olympic videos to be delivered completely in HD.
In addition, Panasonic will support a safe and secure Olympic operation by providing high-quality picture and high-sensitivity surveillance camera systems for the indoor and outdoor Olympic facilities, the surrounding areas and highways.
Sources: Panasonic Corporation; Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC).
"Vancouver 2010 Olympic Winter Games will take place in February 2010. Relevant consumer-oriented businesses targeting audiences in participating countries (especially those in North America) may timely explore this advertising opportunity."
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Posted by Editors at 8:02 AM
October 27, 2007
Coca-Cola Company helps in the restoration of the birthplace of the Olympic Games
Photo: Athens, Greece, October, 24 2007 -- Dominique Reiniche (L), president of The Coca-Cola Company's European Union Group, presents a check for US $2 million to Minoas Kyriakou (R), president of the Hellenic Olympic Committee, to aid in the restoration of its site in Ancient Olympia, the birthplace of the Olympic Games. The site was severely damaged by the forest fires in Greece this past summer. The Coca-Cola Company is the longest continuous supporter of the Olympic Games in a partnership that dates to 1928.
Photo: Forest area around the Pierre de Coubertin monument. Ancient Olympia, Greece -- A donation of US $2 million from The Coca-Cola Company will help restore the forest area around the Pierre de Coubertin monument, a tribute to the founder of the modern Olympic Games. The site, on the grounds of Ancient Olympia where the Olympic Games were first held, was severely damaged by the forest fires that scorched Greece over the summer. |GlobalGiants.com|
Posted by Editors at 7:48 AM
April 24, 2007
Citi Announces Plant-A-Tree Program to Help Drive Environmental Awareness : GlobalGiants.com
Encourages Customer Enrollment in Paperless Statements.
Announces First Quarter Success With More Than 300,000 Trees Planted.
NEW YORK, April 24 -- Citi, the leading global financial services company, is aiming to help make a difference in the environment this year, while delivering tangible benefits to customers who desire to reduce their dependence on paper and help to protect the environment. In January, the company put in motion a customer-focused "Plant- a-Tree" initiative - a program that creates environmental awareness by encouraging its credit card holders to switch to paperless statements, planting a tree for each conversion made. Today, the company announced its first quarter results from the program, where already more than 300,000 customers have opted to "go paperless" and just as many trees have been planted on their behalf nationwide.
For every customer that switches to paperless statements, Citi, in partnership with the National Arbor Day Foundation (NADF), will plant a tree on his or her behalf in a location where it is most needed. Along with the environmental benefits, going paperless has its consumer advantages as well. Going paperless helps reduce paper clutter and allows customers to view their statements online for up to six months, as well as provides easy access to account activity anywhere, anytime.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries. |GlobalGiants.com|
Posted by Editors at 1:26 PM
December 9, 2006
Weyerhaeuser Provides Update on Wood Products Market
FEDERAL WAY, Wash., -- Weyerhaeuser Company (NYSE:WY) has announced that challenging market conditions necessitate further actions, which could include closures, curtailments and restricted operating postures at softwood lumber, engineered lumber and structural panels operations across North America.
Downtime and restricted operating postures have already been undertaken at about 70 percent of Weyerhaeuser residential wood products facilities. These curtailments have led to significant fourth quarter production decreases across all product lines.
"Demand for wood products is very weak," said Steven R. Rogel, chairman, president and chief executive officer. "We continue to analyze our operating postures and portfolio and expect additional capacity adjustments in the near term.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2005, sales were $22.6 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities.
Posted by Editors at 7:16 PM