BOSTON - Monday, November 5th 2012 [ME NewsWire]
Sapient EngagedNowSM Delivers Innovative Multi-Channel Customer Experiences through a Unified Platform
(BUSINESS WIRE)-- SapientNitro, part of Sapient (NASDAQ: SAPE), today announced the launch of Sapient EngagedNowSM, a robust cloud-based platform offering that gives marketers the ability to better engage today’s on-the-go consumers across an increasing array of digitally enhanced channels. With EngagedNow, brands can create immersive, multi-channel customer experiences -- without having to design, develop and support the infrastructure needed to enable these experiences.
EngagedNow is a platform suite that can be used broadly by marketers across a range of industries. The suite also includes unique offerings and modular capabilities to support the specific needs of industry verticals, including sports & entertainment (Sapient EngagedFanSM) and travel (Sapient EngagedTravelerSM). EngagedNow is the first end-to-end platform that connects brands with digitally enabled consumers across an integrated set of channels -- from web and mobile to tablets and digital signage.
EngagedTraveler is in use today at leading U.S. airports, including Denver International Airport, Minneapolis-St. Paul Airport, and The Port Authority in New York and New Jersey. Clear Channel Airports is using EngagedTraveler to power its FlySmart™ applications and other in-airport digital solutions across its expansive U.S. portfolio.
EngagedFan is being customized for NASCAR, as part of the company’s ambition to reinvent the fan experience. NASCAR engaged SapientNitro earlier this year to develop a digital platform that fosters fan engagement at its core. The result will be a unique experience set to debut in January 2013, one that will engage NASCAR fans at every moment -- before, during and after racing events.
“The EngagedFan platform will allow us to provide our fans with an immersive digital experience that deepens engagement opportunities with our sport,” said Marc Jenkins, Vice President, Digital Media at NASCAR. “Providing the best possible fan experience is our core objective, and EngagedFan helps us do just that.”
“Speed to market has never been more critical, as today’s connected consumers expect highly rich, relevant experiences, wherever they are,” said Chris Davey, global head of platform innovation at SapientNitro. “Our clients are seeking innovative ways to deliver relevant content to their audiences without requiring hefty technology resources and capital investments. To marry the desire for rich experience creation with the agility marketers need, SapientNitro is introducing a fully managed, cloud-based platform that frees our clients from technology hassles so they can focus on their needs: telling brand stories in ways that bring them closer to their customers.”
EngagedNow is a collection of proprietary cloud-based applications and 24/7 hosting and managed operations support. These customizable end-to-end platforms help brands manage customer experiences across all digital touch points, leveraging data and insight to deliver contextualized experiences and personalized storytelling to boost engagement.
“EngagedNow is another example of SapientNitro’s commitment to helping clients embrace the entire ecosystem of consumer touch points as an integrated platform for brand storytelling,” said Alan J. Herrick, president and CEO of Sapient. “Attracting today’s nimble and always-on consumers requires significant creativity and innovation to bring them into a brand’s story. Technology needs to be a catalyst, not a hindrance, for meeting rising expectations for seamless, connected experiences. Platforms like EngagedNow give marketers the agility to move at the speed of the consumer and to prosper in an environment of constant change.”
The EngagedNow suite is based on leading technology components, combined with marketing services and platform management and support. Pre-integrated, ready-to-use marketing tools allow clients through one platform to manage multiple functions including:
Content management
Multi-channel delivery
Digital asset management
Integrated digital campaign management
Customer profile management
Social tools
Media monetization
Personalization, search and targeting
Analytics, reporting and optimization
For more information on EngagedNow, visit www.sapient.com/engagednowor contact us through our website at: www.sapient.com/contact-us.html.
About SapientNitro
SapientNitroSM, part of Sapient®, is an integrated marketing and technology services firm. We create and engineer highly relevant experiences that accelerate business growth and fuel brand advocacy for our clients. By combining multi-channel marketing, multi-channel commerce, and the technology that binds them, we influence customer behavior across the spectrum of content, communication and commerce channels, resulting in deeper, more meaningful relationships between customers and brands. SapientNitro services global leaders such as Chrysler, Citi, The Coca-Cola Company, Lufthansa, Target and Vodafone through our operations in North America, Europe, and Asia-Pacific. For more information, visit www.sapientnitro.comor follow us on Twitter @sapientnitro.
Sapient is a registered service mark of Sapient Corporation
Contacts
Media Contact:
Sapient
David LaBar, +1 646 478 9846
dlabar@sapient.com
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BUSINESS WIRE / ME NewsWire - INGELHEIM, Germany - Tuesday, November 6th 2012
New FDA data safety assessment supports previous clinical evidence on the safety of the anticoagulation therapy and reports new Pradaxa® and warfarin patients to have similar bleeding rates
Comprehensive efficacy and safety evaluation by the EMA leads to recommendation for renewal of the marketing authorisation for Pradaxa® to ensure ongoing patient benefit
For Non-US, Non-UK & Non-Canadian Media Only
Following independent regulatory appraisals of the safety and efficacy of the anticoagulation therapy Pradaxa®, both the U.S. Food and Drug Administration (FDA) and European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) have reconfirmed the positive benefit-risk profile of the treatment for prevention of stroke in patients with atrial fibrillation (AF)*.
On Friday 2nd November, the FDA published the results of a Mini-Sentinel assessment that indicated the bleeding rates associated with new use of Pradaxa® are not higher than those associated with new use of warfarin.1 With this analysis the FDA further confirmed the results demonstrated by the landmark 18,000-patient RE-LY® trial, upon which the treatment was approved. The announcement of the results follows the FDA’s U.S. label update in June this year. The U.S. label affirms superior reduction in ischemic and hemorrhagic stroke versus warfarin in patients with non-valvular atrial fibrillation.
The FDA Mini-Sentinel assessment evaluated new information about the risk of serious bleeding associated with use of the anticoagulants Pradaxa® and warfarin. The FDA investigated the rates of gastrointestinal bleeding and intracranial haemorrhage for new users of Pradaxa® compared to new users of warfarin. The assessment was undertaken using insurance claims and administrative data from the FDA’s Mini-Sentinel pilot of the Sentinel Initiative.
Specifically, the FDA states: “For the populations in the Mini-Sentinel data assessment, the combined incidence rate (ICH and GIH events** per 100,000 days at risk) was 1.8 to 2.6 times higher for new users of warfarin than for new users of Pradaxa®.”1
Further, “The FDA has not changed its recommendations regarding Pradaxa®. Pradaxa® provides an important health benefit when used as directed.”1
This follows the positive opinion adopted by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) on the renewal of the marketing authorisation for Pradaxa® in October.2
The CHMP’s recommendation for renewal of the marketing authorisation for the next five years supports the benefits that Pradaxa® has been delivering to patients since its first approval in March 2008. The recommendation was based upon the favourable risk-benefit profile of the treatment, confirmed by the CHMP following comprehensive evaluation and includes all licensed indications of the treatment.2
“We welcome the positive conclusions reached by both the EMA’s CHMP Committee and the FDA in relation to the risk-benefit profile of Pradaxa®,” commented Professor Klaus Dugi, Corporate Senior Vice President Medicine, Boehringer Ingelheim. “The renewal of the marketing authorisation in Europe will reassure both healthcare professionals and patients of the benefit from this highly effective anticoagulant. Furthermore, the FDA’s assessment is a clear cut statement for Pradaxa®’s favourable safety profile, now demonstrated also in real-world clinical practice.”
Boehringer Ingelheim will present a wealth of latest data on Pradaxa® from 16 abstracts at the American Heart Association’s (AHA) Scientific Sessions in Los Angeles from 3-7 November 2012, including the first and only long-term safety and efficacy data of an oral anticoagulant, the results of the RELY-ABLE® study. The data reinforce Boehringer Ingelheim’s ongoing commitment to adding to the scientific body of evidence for Pradaxa® and the benefit of the treatment for stroke prevention in atrial fibrillation.
*The reconfirmation of the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) includes both indications of Pradaxa®: for prevention of stroke in patients with atrial fibrillation and for prevention of venous thromboembolism.
**ICH and GIH= Intracranial hemorrhage (brain bleeding) and gastrointestinal hemorrhage (bleeds in pharynx, stomach, colon or rectum)
~ENDS~
Please click on the link below for ‘Notes to Editors’ and ‘References’:
http://www.boehringer-ingelheim.com/news/news_releases/press_releases/2012/05_november_2012dabigatran.html
Contacts
Boehringer Ingelheim GmbH
Corporate Communications
Media + PR
Julia Meyer-Kleinmann
Phone: +49 6132 77 8271
E-mail: press@boehringer-ingelheim.com
Twitter: http://twitter.com/Boehringer
More information: www.boehringer-ingelheim.com
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After visiting nearly 8 different states and cities in Nigeria, Tour2India4Health Consultancy is coming to Rivers State with its team of medical executives and patient coordinators all the way from India. The team will be in Port Harcourt on 6th, 7th and 8th November 2012. During this visit, our team will guide fellow Nigerian and Port Harcourt residents on medical tourism in India and what packages and benefits are provided by our company to Nigerian people. If your or anyone you know are suffering from any health problems and want some good options for treatment then don’t think twice, pick your phone and call us immediately to book an appointment with us. You can call on our India numbers as provided below to confirm your meeting. We also request to let this be known to your friends and family so that all those looking for affordable medical treatment in India can be benefited.
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HIGH POINT, N.C. - Saturday, November 3rd 2012 [ME NewsWire]
(BUSINESS WIRE)-- TransTech Pharma, Inc., announced today that recruitment of patients for its recently initiated, multi-center Phase 2 clinical trial of TTP054 in type 2 diabetics, is exceeding expectations with initial top line results available in early 2013. The 90-day proof of concept study is being conducted in type 2 diabetics not well controlled with approved oral anti-diabetic agents. TTP054 acts as an agonist of the glucagon-like peptide 1 receptor (GLP1r).
“Currently available anti-diabetic agents fall short in controlling diabetes in a large percentage of the affected population. Therefore, the search for novel drugs and mechanisms to address this huge unmet medical need is imperative,” said Dr. Adnan Mjalli, Chairman and CEO of TransTech Pharma. “Injectable GLP-1 analogues, have shown impressive efficacy in the treatment of type 2 diabetes but are associated with several side effects, including nausea and gastrointestinal upset. To our knowledge, TTP054 is the first small-molecule, orally available GLP1r agonist in clinical development, providing the convenience and lower cost of oral agents with a potentially superior GI side effect profile.” In a prior 28-day study in type 2 diabetics not well controlled on metformin, TTP054 demonstrated an excellent safety profile and a statistically significant reduction in fasting and post-prandial glucose levels over the course of the study. The observed glucose control in this study is predictive of long-term reduction in HbA1c exceeding 1.0%. In this study, TTP054 was well-tolerated with no evidence of nausea and no serious adverse events. Moreover a significant decrease in plasma lipids was also observed.
Dr. Mjalli added, “TransTech Pharma is fully invested in the discovery and development of oral, small-molecule GLP1r agonists.” We believe that oral GLP1r agonists will be a new paradigm for the treatment of type 2 diabetes. Our commitment to this new paradigm in diabetes treatment is shown by our recent investigational new drug application filing for TTP273, a second molecule in our GLP1r agonist program, and its successful completion of its first-in-human study where it demonstrated impressive tolerability, pharmacokinetics and pharmacodynamics.”
About TTP054
TransTech Pharma, utilizing its proprietary drug discovery platform TTP Translational Technology®, has discovered and developed a series of novel, small-molecule GLP1r agonists that stimulate the body’s ability to regulate glucose levels. TTP054 is the lead development candidate in the GLP1r agonist program and binds to the GLP1 receptor through a newly identified and patented binding pocket on the receptor. The efficacy of GLP1r analogues for the treatment of type 2 diabetes is well documented. TransTech anticipates that its orally available GLP1r agonists will prove safe and effective, providing significant benefits over the currently available injectable GLP1 analogues.
About Type 2 Diabetes
Type 2 diabetes presents a growing burden on healthcare systems globally, with costs exceeding $370 billion annually. The goal of maintaining HbA1c levels below 7.0% is elusive for patients with this life-long disease. In addition to poorly regulated glucose, diabetics commonly have co-morbidities, including heart disease, stroke, high blood pressure, blindness, kidney disease, amputations, dental disease, and central and peripheral nervous system impairment.
About TransTech Pharma
TransTech Pharma is a privately held clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of human therapeutics to fill unmet medical needs. The Company’s high-throughput drug discovery platform, Translational Technology®, translates the functional modulation of human proteins into safe and effective medicines. TransTech Pharma has a pipeline of small-molecule clinical and pre-clinical drug candidates for the treatment of a wide range of human diseases, including central nervous system disorders, diabetes, obesity, cardiovascular, inflammation and cancer. For further company information, visit http://www.ttpharma.com.
Contacts
TransTech Pharma, Inc.
Adnan M.M. Mjalli, Ph.D, 336-841-7770
amjalli@ttpharma.com
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BUSINESS WIRE / ME NewsWire MCLEAN, Va. - Thursday, November 1st 2012
Today, on World Food Day, Hilton Worldwideannounced multi-year partnerships with Feeding Americaand The Global FoodBanking Networkto secure food and reduce hunger in communities where it operates around the globe. The collaborations will enable Hilton Worldwide hotels to collect safe, surplus food from conferences and daily food and beverage operations that would otherwise be thrown away and make it available to those in need.
Feeding America and The Global FoodBanking Network will each connect Hilton Worldwide hotels with local food banks and their networks of local community agencies to facilitate food delivery to school feeding programs, food pantries, soup kitchens, hospices, after-school programs and other community programs that provide food to families in need of nourishing meals. In year one, Hilton Worldwide will pilot food donation systems in New York City, Washington, D.C., Chicago, San Francisco, Minneapolis, Orlando and Kansas City in the United States working with Feeding America. Working with The Global FoodBanking Network, the company will provide food to food banks in international markets, with initial efforts in Egypt.
“Each year billions of pounds of food go to waste, while at the same time more than 850 million people do not have enough to eat,” said Jennifer Silberman, vice president of corporate responsibility, Hilton Worldwide. “For one in eight people globally, hunger is a reality, and Hilton Worldwide is committed to securing food resources where we live, work and travel. Partnering with Feeding America and The Global FoodBanking Network will help us collect safe, unused food from our hotels and distribute it to local people and organizations in need across the globe.”
Pilot activities will focus on optimizing food and beverage operations to minimize food waste, educating hotels on food banking opportunities, developing relationships between hotels and local food banks and establishing systems for donating safe and nutritious food. The partnerships will leverage key learnings from the pilot locations to expand into markets where Feeding America and Global FoodBanking Network are involved and to develop tools and resources that enable Hilton Worldwide’s more than 3,900 properties across 90 countries to connect with food donation opportunities locally.
“The partnership with Hilton Worldwide shows how fighting hunger is a collaborative effort and not something we can solve alone,” said Matt Knott, interim president and chief executive officer of Feeding America, the nation’s leading anti-hunger organization. “We have to continue to find innovative ways to make sure that people have enough food to nourish them.”
Jeffrey D. Klein, president and chief executive officer of The Global FoodBanking Network, said, “Our work with Hilton Worldwide takes a proactive approach to solving hunger and reducing food waste that produces greenhouse gas and contributes to global warming. The Global FoodBanking Network is excited to help Hilton Worldwide deepen its commitment to community through this innovative collaboration.”
Hilton Worldwide will also work with Feeding America and The Global FoodBanking Network to provide volunteer opportunities with local food bank partners through its Global Team Member Volunteer Program, and will track food donations through LightStay™, its proprietary sustainability measurement system. These donations will further contribute to Hilton Worldwide’s goal of reducing waste output and complement its partnerships with the Global Soap Projectto recycle and donate hotel soap to vulnerable populations and Good360to donate reusable goods to charitable organizations. Since 2008, the properties in the company’s portfolio have reduced waster by 23.3 percent.
Hilton Worldwide’s partnerships with Feeding America and The Global FoodBanking Network align with the company’s efforts to Travel with Purposeand provide shared value to its business and communities around the world. Together with its corporate global partners, Hilton Worldwide focus on: creating opportunitiesfor individuals to reach their full potential; strengthening communitieswhere it operates; celebrating culturesand the power of travel; and living sustainablythrough the measurement, analysis and improvement of its use of natural resources.
About Feeding America
Feeding America provides low-income individuals and families with the fuel to survive and even thrive. As the nation's leading domestic hunger-relief charity, our network members supply food to more than 37 million Americans each year, including 14 million children and 3 million seniors. Serving the entire United States, more than 200 member food banks support 61,000 agencies that address hunger in all of its forms. For more information on how you can fight hunger in your community and across the country, visit http://www.feedingamerica.org.
About The Global FoodBanking Network
The Global FoodBanking Network (GFN) is the only not-for-profit organization committed to creating, supplying and strengthening food banks and food bank networks throughout the world. GFN currently supports food bank operations in 24 countries – representing more than one-third of the world’s hungry – and is working to establish food banks in six additional countries in the next year. One way GFN works to achieve its mission of alleviating global hunger is to create efficient and sustainable processes that provide environmentally friendly alternatives to surplus food product disposal. This keeps perfectly edible food out of landfills and makes it available for distribution to hungry people. Additional information about GFN’s activities can be found at www.foodbanking.org.
About Hilton Worldwide
Hilton Worldwide is a leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 93 years, Hilton Worldwide has offered business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,900 hotels and timeshare properties, with 640,000 rooms in 90 countries and territories and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®. Visit www.hiltonworldwide.comfor more information and connect with Hilton Worldwide at www.facebook.com/hiltonworldwide, www.twitter.com/hiltonworldwide, www.youtube.com/hiltonworldwide, www.flickr.com/hiltonworldwideand www.linkedin.com/company/hilton-worldwide.
About LightStay™
LightStay™ is a proprietary system developed to calculate and analyze sustainability performance. LightStay measures multiple utility and operational metrics such as (but not limited to) energy, water, carbon, housekeeping, paper product usage, waste, chemical storage, air quality and transportation. In addition, LightStay provides social networking tools that allow properties to communicate and share information, and features a "meeting impact calculator" element that calculates the sustainability impact of any meeting or conference held at a property.
Contacts
Dasha Ross
Hilton Worldwide
+ 1 (703) 883-5805
dasha.ross@hilton.com
www.hiltonworldwide.com/media
i pray for peace in nigeria
NEW YORK - Thursday, November 1st 2012 [ME NewsWire]
Transaction Values Warnaco at $2.9BN – a 34% Premium Over its Last Closing Price
Reunites the House of “Calvin Klein” to Ensure Single Brand Vision
PVH Will Have Established Operations in Every Major Consumer Market Worldwide
Acquisition Enhances PVH’s Long-Term Growth and Profitability Driven by “Calvin Klein” and “Tommy Hilfiger”
Transaction Accretive to Year One Earnings by $0.35 Per Share, Excluding One-Time and Transaction Related Costs
(BUSINESS WIRE)-- PVH Corp. (NYSE: PVH) and The Warnaco Group, Inc. (NYSE: WRC) today announced that they have entered into a definitive merger agreement pursuant to which PVH will acquire Warnaco and holders of Warnaco common stock will receive $51.75 in cash and .1822 of a share of PVH common stock for each share of Warnaco common stock. The transaction values Warnaco at approximately $2.9 billion. With over $8 billion in pro forma revenue, PVH will be one of the largest and most profitable global branded lifestyle apparel companies in the world, with a diversified portfolio of iconic brands led by Calvin Klein and Tommy Hilfiger, as well as heritage brands –Van Heusen, IZOD, ARROW, Bass, Speedo, Olga and Warner’s.
Based on PVH’s last closing stock price, the per share value of the consideration to be received by Warnaco stockholders is $68.43, a 34% premium over the last closing price of Warnaco common stock. The merger, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in early 2013, at which time the former Warnaco stockholders will own approximately 10% of the outstanding common stock of PVH. In addition, Helen McCluskey, Warnaco’s President and Chief Executive Officer, is expected to join PVH’s Board of Directors. The Warnaco Board of Directors has unanimously recommended that Warnaco stockholders approve the transaction.
PVH anticipates approximately $100 million of annual run rate synergies from the transaction, which will be fully realized over three years. In order to achieve these synergies, PVH expects to incur one-time costs of approximately $175 million over three years. PVH expects the transaction to be $0.35 per share accretive to earnings in the first full year (fiscal 2013, if the deal closes when currently anticipated), excluding one-time integration costs and transaction expenses but including the effect of the potential loss of a license. When the $100 million of expense synergies are fully realized in year 3, PVH would expect the transaction to be accretive to earnings by $1.00 per share, excluding one-time integration costs and including the effect of the potential loss of a license.
“This is a unique opportunity to reunite the ‘House of Calvin Klein’ and reinforces our strategy to drive the global growth of Calvin Klein,” said Emanuel Chirico, Chairman and Chief Executive Officer of PVH. “Having direct global control of the two largest apparel categories for Calvin Klein – jeans and underwear – will allow us to unlock additional growth potential of this powerful designer brand across all major product categories, geographies and distribution channels. The Warnaco Calvin Klein businesses will be moved onto our Calvin Klein platform under the leadership of Tom Murry, President & Chief Executive Officer, Calvin Klein, to ensure a single brand vision globally.”
Helen McCluskey, President and Chief Executive Officer of Warnaco, said, “This transaction delivers compelling value to our stockholders and significant benefits for the combined company. We are proud of what we have accomplished, driving growth and profitability and increasing our share price by roughly 500% since our restructuring in 2003. Our team has built a strong global infrastructure, expanded our direct-to-consumer footprint and created a solid foundation for long-term growth. We look forward to the opportunities this combination brings to the continued success of Calvin Klein Jeans and Calvin Klein Underwear, the increased potential for our heritage brands, and the future for our associates.”
“PVH has a proven track record of successfully integrating acquisitions. We are confident this transaction will create tremendous value for stockholders, as well as provide enhanced opportunities around the world for both companies’ respective associates, vendors and other business partners,” said Mr. Chirico. “We plan to align Warnaco’s established operations in Asia and Latin America with our strong operations in North America and Europe to fuel our growth strategies for both Calvin Klein and Tommy Hilfiger. We remain firm in our belief that the strength of our brands, the sound execution of our business strategies, and our strong credit profile will continue to drive long-term growth and improvements in our financial performance and business returns in 2013 and beyond.”
The closing of the transaction is subject to customary conditions, including approval by the holders of a majority of the outstanding shares of Warnaco common stock and approval under applicable antitrust and competition laws. Commitments for $4.325 billion of financing (consisting of a bridge credit facility and a senior secured credit facility) have been received from Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc. subject to customary conditions. The facility will be used to refinance debt, fund the cash portion of the consideration, pay other transaction related expenses, and provide liquidity for PVH going forward.
Third Quarter and Full Year 2012 Guidance
PVH Corp. currently expects its non-GAAP earnings per share for the third quarter and full year 2012 to be at least at the top end of its guidance range previously announced on October 2, 2012.
Warnaco plans to report its third quarter 2012 earnings results on Monday, November 5, 2012. While its reported results of operations are not yet final, Warnaco expects third quarter net revenues of approximately $612 million and expects third quarter earnings per share from continuing operations in line with analyst consensus expectations. Warnaco is also reaffirming its previously announced fiscal 2012 guidance, excluding any one-time costs related to the transaction announced today.
Advisors
Peter J. Solomon Company is serving as lead financial advisor to PVH in connection with the acquisition and financing of the transaction and sole advisor to the PVH Board of Directors, and provided a fairness opinion to PVH. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to PVH.
Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc. will arrange and lead the financing for the transaction. Barclays, BofA Merrill Lynch and Citigroup also acted as financial advisors to PVH.
J.P. Morgan is serving as exclusive financial advisor to Warnaco, and provided a fairness opinion to Warnaco. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Warnaco.
Conference Call and Webcast Details
PVH will provide further details regarding this announcement on a conference call and webcast with the investment community scheduled for Wednesday, October 31, 2012 at 8:30AM Eastern Time. The webcast can be accessed at www.pvh.com via the PVH News Announcement icon or dial 888-205-6743 in the U.S. or 913-312-0413 (toll) from outside the U.S., using passcode number 1476035. Additional materials related to the transaction are available under the Investors tab at www.pvh.com.
The live webcast of the Company’s presentation, as well as the audio replay, which will be available beginning three hours after the conference ends, may be accessed by logging onto www.pvh.com by using the PVH News Announcement icon or going to the Webcasts section under the Investors tab. Materials for this presentation will also be available onwww.pvh.com in the Webcasts section under the Investors tab.
About PVH Corp.
PVH Corp., one of the world’s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the world’s largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos.
About Warnaco Group, Inc.
The Warnaco Group, Inc., headquartered in New York, is a leading global apparel company engaged in the business of designing, sourcing, marketing and selling men’s, women’s and children’s sportswear and accessories, intimate apparel, and swimwear under such owned and licensed brands as Calvin Klein®, Speedo®, Chaps®, Warner's® and Olga®.For more information, visit www.warnaco.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements. The forward looking statements include assumptions about our operations, such as cost controls and market conditions, and the proposed merger (including its benefits, results, effects and timing) that may not be realized.
Risks and uncertainties related to the proposed merger include, among others: the risk that Warnaco’s stockholders do not approve the merger; the risk that regulatory approvals required for the merger are not obtained or are obtained subject to conditions that are not anticipated; the risk that the other conditions to the closing of the merger are not satisfied; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; uncertainties as to the timing of the merger; competitive responses to the proposed merger; costs and difficulties related to the integration of Warnaco’s businesses and operations with PVH’s business and operations; the inability to obtain, or delays in obtaining, cost savings and synergies from the merger; unexpected costs, charges or expenses resulting from the merger; litigation relating to the merger; the inability to retain key personnel; and any changes in general economic and/or industry specific conditions. Additional factors that could cause future results or events to differ from those we expect are those risks discussed under Item 1A, “Risk Factors,” in PVH’s Annual Report on Form 10-K for the fiscal year ended January 29, 2012, Warnaco’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011, Warnaco’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, and other reports filed by PVH and Warnaco with the Securities and Exchange Commission (SEC). Please read our “Risk Factors” and other cautionary statements contained in these filings. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise. As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and our financial condition and results of operations could be materially adversely affected.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed merger discussed in this press release, PVH will file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of Warnaco and a Prospectus of PVH, as well as other relevant documents concerning the proposed transaction. WARNACO STOCKHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE MERGER WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
A free copy of the Proxy Statement/Prospectus, as well as other filings containing information about PVH and Warnaco, may be obtained at the SEC’s Internet site (http://www.sec.gov). You will also be able to obtain these documents, free of charge, from PVH at www.pvh.com under the heading “Investors” or from Warnaco by accessing Warnaco’s website at www.warnaco.com under the heading “Investor Relations.”
PVH and Warnaco and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Warnaco in connection with the merger. Information about the directors and executive officers of PVH and their ownership of PVH common stock is set forth in the proxy statement for PVH’s 2012 annual meeting of stockholders, as filed with the SEC on Schedule 14A on May 10, 2012. Information about the directors and executive officers of Warnaco and their ownership of Warnaco common stock is set forth in the proxy statement for Warnaco’s 2012 annual meeting of stockholders, as filed with the SEC on Schedule 14A on April 11, 2012. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the Proxy Statement/Prospectus regarding the merger when it becomes available. This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50460388&lang=en
Contacts
Investors:
PVH Corp.
Dana Perlman
Treasurer, SVP Business Development & Investor Relations
danaperlman@pvh.com
(212) 381-3502 (temporarily unavailable)
(908) 698-5518
Deborah Abraham
Vice President, Investor Relations
(212) 287-8289
Media:
PVH Corp.
Meghan Gavigan /
Dan Gagnier / Jonathan Doorley /
Nathaniel Garnick
Sard Verbinnen & Co
mgavigan@sardverb.com
(312) 895-4737 /
(212) 687-8080
Jeffrey Taufield / Wendi Kopsick
Kekst and Company
(212) 521-4800
HIGHLAND HEIGHTS, Ky. - Thursday, November 1st 2012 [ME NewsWire]
(BUSINESS WIRE)-- General Cable Corporation(NYSE: BGC), one of the most globally diversified industrial companies, reported today results for the third quarter ended September 28, 2012. Non-GAAP adjusted earnings per share of $0.60 were within management’s range of expectations. Included in this result is $0.12 per share of additional tax expense recorded in the third quarter reflecting an increase in the Company’s estimated full year effective tax rate with the cumulative adjustment of the first half of the year being reported in the third quarter as well as other incremental discrete tax items. Operating income of $75.4 million exceeded management’s range of expectations for the third quarter as operating results in the Company’s Rest of World (ROW) segment and increased submarine and land based turnkey project activity more than offset seasonal declines in many of the businesses in the Company’s North American and Europe and Mediterranean segments. Diluted earnings per share for the third quarter of 2012 were $0.62. A reconciliation of Non-GAAP earnings per share to GAAP earnings per share and adjusted operating income to reported operating income is included on page 5 of this press release.
The Company’s reported results for the third quarter of 2012 include less than one fiscal month of incremental net sales and unit volume from the Alcan Cable North America acquisition completed on September 4, 2012. The business contributed approximately $48 million of net sales on 21 million aluminum pounds sold during this period. As expected, Alcan Cable North America earnings for this period were de minimis as purchase accounting adjustments offset the base earnings in the business. All unit volume comparisons on the Company’s base business discussed throughout this press release exclude the 21 million incremental contribution of metal pounds sold attributable to this acquisition unless otherwise noted.
Highlights
Adjusted EPS of $0.60 within management’s guidance and operating income of $75.4 million exceeded management’s guidance of $65 to $75 million
Completed the acquisition of the North American portion of Alcan Cable which further enhances the Company’s electric utility and construction product offering in North America
Completed the acquisition of a majority interest in Procables, S.A. of Colombia on October 1, 2012; expanding the Company’s market position in the Andean region and its geographic coverage throughout the Americas, which is one of the most extensive in the wire and cable industry
Signed definitive agreement to acquire Prestolite Wire, LLC which offers a broad range of wire and cable products serving predominately transportation original equipment manufacturers (OEM) and distributors
Amended and enlarged the Company’s U.S. and Canadian asset-based revolving credit facility by increasing the size to $700 million and extending its maturity date to 2017; enhancement principally supports the acquisition of Alcan Cable while maintaining financial flexibility and liquidity
Solidified the capital structure while tranching out the debt maturity profile with the issuance of $600 million of 5.75% senior notes due in 2022; completed the call of $200 million of 7.125% senior fixed rate notes due in 2017 on October 12th; retired $11 million of 1.0% senior convertible notes due in 2012 on October 15th
Board of Directors authorized another $125 million share repurchase program; under the existing share repurchase authorization, which expired on October 28th, the Company repurchased $63.7 million or about 5% of its common shares over the past 12 months
Restatement
The Company has identified certain inventory related accounting errors in two facilities located in Brazil and a third facility located in South Africa within the Company’s ROW segment that were erroneously computing cost of sales over the course of several years, resulting in an understatement of cost of goods sold and an overstatement of ending inventory. All three locations were utilizing the same system and related process, which, with respect to work-in-process and finished goods, incorrectly computed cost of sales. In addition, because the erroneous process was in place at one of the Brazilian facilities prior to the Company’s acquisition of Phelps Dodge International Corporation (“PDIC”) in 2007, the Company overstated inventory in its allocation of the purchase price among assets acquired, resulting in an understatement of goodwill.
On October 26, 2012, the Audit Committee of the Company’s Board of Directors, upon the recommendation of the Company’s executive officers, concluded that due to these inventory related accounting errors within the Company’s ROW segment in two countries as described above, the Company’s previously issued consolidated financial statements for fiscal years 2009 through 2011 and the related reports of its independent registered public accounting firm, the interim periods during those years, and the financial statements as of, and for the periods ended March 30, 2012 and June 29, 2012 should no longer be relied upon.
To view the full report and tables please click here.
Contacts
General Cable Corporation
Len Texter, Manager, Investor Relations, 859-572-8684
The Netherlands - Thursday, November 1st 2012 [ME NewsWire]
EMC Momentum Europe 2012
(BUSINESS WIRE/ME NewsWire)-- euroscript is proud to announce that DSM, the global Life Sciences and Materials Sciences company, has decided to use the eDRG integrated within Documentum D2 because of its simple configuration and customization capabilities.
DSM was searching for a product that could handle all reporting needs for their Documentum system.
“We chose the eDRG for its integration in D2 Client, the ways queries are built for reports, its flexibility in defining report templates, functionalities as adhoc reports and scheduled reports and the rules to define if the final report is sent, stored or opened. Even with lots of functionality in eDRG, learning eDRG to use reports, build reports and report templates and manage them is found quite easy,” says Mark Boon, Solution Designer at DSM ICT.
“For a few years now, the euroscript Delt Netherlands team has been working on the development of a Documentum add-on that generates customized reports, available in a variety of formats. This resulted recently in the Designed for EMC Documentum accreditation. We are very happy to welcome DSM as our latest customer for the eDRG. It shows that the eDRG meets all the criteria a big multinational like DSM has,” says René Blanken, Managing Director of euroscript Delt Netherlands.
The euroscript Delt Report Generator is the only fully D2 integrated reporting solution in the world, currently used by many companies from a variety of industry sectors. Its success is such that DMS has been invited to detail their Documentum D2 environment and how eDRG is used within the organization, at EMC Momentum Europe 2012 next edition due to take place in Vienna.
euroscript is a leading provider in global content lifecycle management solutions. The euroscript International divisions deliver comprehensive solutions that help customers design, build and run content management operations of all sizes. Thanks to its employees’ expertise in the fields of consulting, system integration, language services as well as content and document management, euroscript is able to help businesses worldwide to manage content more efficiently.
With a market presence in over 18 countries, euroscript serves customers in a variety of business sectors. www.euroscript.com
Contacts
Euroscript
Press Relations Contacts
Isabelle Pericarpin, + 352 314 411 446
isabelle.pericarpin@euroscript.com
INGELHEIM, Germany - Wednesday, October 31st 2012 [ME NewsWire]
Presentation of RELY-ABLE® study results: First and only long-term efficacy & safety data on a novel oral anticoagulant for stroke prevention in atrial fibrillation (AF) to be announced in the Clinical Science: Special Reports session
New sub-analyses from the 18,000 patient landmark trial RE-LY® also discussed
Real-world clinical data for VTE prevention in total knee or hip replacement to be presented
(BUSINESS WIRE)-- For Non-US, Non-UK & Non-Canadian Media Only
Widely anticipated results from RELY-ABLE®, the first long-term follow-up study of a novel oral anticoagulant treatment for stroke prevention in AF, will be among the numerous clinical reports on Pradaxa® (dabigatran etexilate) to be presented at the American Heart Association’s (AHA) Scientific Sessions in Los Angeles from 3-7 November.1 The wealth of evidence being presented for Pradaxa® at this year’s AHA sheds light on the clinical, long-term and real-world benefits of the treatment for patients at risk for thromboembolic events worldwide.
The RELY-ABLE® results presented are the first randomized follow-up data indicating how a novel oral anticoagulant is performing over more than four years of treatment duration.1These important results will provide knowledge on the consistency of benefits offered by the treatment and support physicians in their search for optimal stroke protection. RELY-ABLE® is the long-term extension study of the RE-LY® trial, one of the largest phase III trials to investigate the prevention of stroke and systemic embolism in patients with non-valvular atrial fibrillation.1-3
RELY-ABLE® oral presentation information:
Title
Lead Author
Presentation details
Randomized Comparison of the Effects of Two Doses of Dabigatran Etexilate on Clinical Outcomes Over 4.3 Years: Results of the RELY-ABLE Double-blind Randomized Trial
Stuart J Connolly, McMaster Univ, Hamilton, ON, Canada
CS.04. Clinical Science: Special Reports: Valvular Heart Disease, PAD, Atrial Fibrillation: International Perspectives
Wed, Nov 7, 11:55 - 12:05 PT
The RELY-ABLE® study conclusions will be discussed during an exclusive online data webcast available on demand for medical media from 9 a.m. CET on Thursday 8 November –www.newshome.com.
Additional studies on Pradaxa® being presented at the AHA Scientific Sessions
In addition to RELY-ABLE®, several reports including novel RE-LY® subanalyses, clinical real-world experience and preclinical studies on Pradaxa® will be presented at the AHA Scientific Sessions. Of particular note will be results from real-world practice examining the safety and efficacy of Pradaxa® for the prevention of venous thromboembolism after total knee or hip replacement,4 as well as updates from the Boehringer Ingelheim Research & Development Programme regarding an antibody fragment antidote for rapid reversal of the anticoagulant effect of Pradaxa®.5
Further Pradaxa® abstracts being presented at AHA:*
ATRIAL FIBRILLATION
RE-LY® trial sub-analyses:
Comparison of Dabigatran versus Warfarin in Diabetic Patients with Atrial Fibrillation: Results from the RE-LY Trial Lead Author: H. Darius, Poster No. 15937, Sunday 4 November, 3:00 p.m. - 4:30 p.m.
Dabigatran Versus Warfarin in Very Elderly Patients with Atrial Fibrillation: Results from the RE-LY Trial Lead Author: M. Coppens, Oral Presentation 15537, Monday 5 November, 9:30 a.m. - 9:45 a.m.
Balancing the Benefits and Risks of Two Doses of Dabigatran Compared with Warfarin in Atrial Fibrillation Lead Author: J. Eikelboom, Presentation 14433, 11:30 a.m. - 11:45 a.m.
Importance of Persistent Elevation of Cardiac Biomarkers in Atrial Fibrillation - A RE-LY Substudy Lead Author: Z. Hijazi, Oral Presentation 14808, Tuesday 6 November, 4:45 p.m. - 5:00 p.m.
Other key AF abstracts:
Cluster Randomized Controlled Trial to Test The Effect of a Multifaceted Comprehensive Cardiovascular Care Intervention on Clinical Outcomes in Atrial Fibrillation Patients Receiving Dabigatran Lead Author: R. Nieuwlaat, Oral Presentation 12618, Monday 5 November, 9:00 a.m. - 9:15 a.m.
Regional Variation in Ischemic Stroke Rates and Oral Anticoagulant Use Among the Non-Valvular Atrial Fibrillation Medicare Population Lead Author: K. Fitch, Poster No. 12992, Tuesday 6 November, 9:30 a.m. – 11:00 a.m., presented by K. Siu
Association between Outpatient Visits Following Hospital Discharge and Readmissions among Medicare Beneficiaries with Atrial Fibrillation Lead Author: M. Hubbard, Poster No. 11367, Tuesday 6 November, 9:30 a.m. - 11:00 a.m., presented by K. Siu
Incidence of Bleeding Events in Patients with Atrial Fibrillation Lead Author: T. Murray-Thomas, Poster No. 14178, Tuesday 6 November, 3:00 p.m. - 4:30 p.m., presented by A. Clemens
Cost-Effectiveness of Dabigatran Etexilate versus Rivaroxaban for Stroke and Systemic Embolism Risk Reduction in Atrial Fibrillation: A US Third Party Payer Perspective Lead Author: D. Walker, Poster No. 14964, Wednesday 7 November, 9:30 a.m. – 11:00 a.m.
Primary prevention of VENOUS THROMBOEMBOLISM in patients after total knee or hip replacement surgery:
Safety and Efficacy of Once Daily 220 mg Dabigatran Etexilate in a Real-World Non-Interventional Study of More Than 5000 Patients After Total Knee or Hip Replacement Lead Author: N. Rosencher, Poster No. 10001, 3:00 p.m. - 4:30 p.m.
PRE-CLINICAL STUDIES:
The Influence on Plaque Formation and Endothelial Function in ApoE-Deficient Mice by Direct Thrombin Inhibition with Dabigatran Lead Author: M.T. Kratz, Poster No. 14060, Sunday 4 November, 9:30 a.m. - 11:00 a.m.
Reversal of Anticoagulant Activity of Dabigatran and Dabigatran-induced Bleeding in Rats by a Specific Antidote (Antibody Fragment) Lead Author: J. van Ryn, Oral Presentation 9928, Monday 5 November, 9:15 a.m. - 9:30 a.m.
Successful Reversal of Dabigatran-Induced Bleeding by 3-Factor Coagulation Concentrates in a Rat Tail Bleeding Model: Lack of Correlation with ex vivo Markers of Anticoagulation Lead Author: J. van Ryn, Oral Presentation 11955, Monday 5 November, 11:30 a.m. - 11:45 a.m.
* Abstracts will be available on the AHA Scientific Sessions Website on Saturday, November 3, 2012
~ENDS~
Please click on the link below for ‘Notes to Editors’ and ‘References’:
http://www.boehringer-ingelheim.com/news/news_releases/press_releases/2012/31_october_2012_dabigatranetexilate.html
Contacts
Boehringer Ingelheim GmbH
Corporate Communications
Media + PR
Julia Meyer-Kleinmann
Phone: +49 6132 77 8271
E-mail: press@boehringer-ingelheim.com
Twitter: http://twitter.com/Boehringer
More information: www.boehringer-ingelheim.com
BUSINESS WIRE / ME NewsWire BERTRANGE, Luxembourg - Thursday, November 1st 2012
euroscript chooses Interverbum Technology's TermWeb terminology management solution as a component of its Global Content Management solution.
This will allow euroscript to better support its modular offering of tailored terminology services and add tangible value to its customers’ terminology assets.
“Our customers recognize the value of their corporate terminology assets to strengthen their unique footprint and to streamline internal information management," says Karina Martínez Ferber, Director Processes & Technology at euroscript International S.A."Such assets need to be accessible for employees and other stakeholders and well-integrated in the content lifecycle. euroscript provides customers with the right services and tools along the entire lifecycle. Interverbum’s TermWeb will enable us to offer to our customers secured online access to their multilingual dictionaries and true terminology collaboration. Together with euroscript’s solutions for terminology extraction and consolidation, combined with our training and consultancy services, this rounds out our terminology services line.”
Ioannis Iakovidis, Managing Director at Interverbum Technology adds, “euroscript has gained its prominence in the European and global language sector thanks to its ability to proactively invest in serving its customers with the most advanced solutions available. We look forward to supporting their customers’ branding and communication efforts through the addition of our best-in-class terminology management solutions.”
euroscript is a leading provider in global content lifecycle management solutions. The euroscript International divisions deliver comprehensive solutions that help customers design, build and run content management operations of all sizes. Thanks to its employees’ expertise in the fields of consulting, system integration, language services as well as content and document management, euroscript is able to help businesses worldwide to manage content more efficiently.
With a market presence in over 18 countries, euroscript serves customers in a variety of business sectors. www.euroscript.com
Interverbum Technologyis a software company dedicated to solving the content creation and translation challenges of global organizations. Its terminology management system, TermWeb, is a Web-based solution that integrates seamlessly with content and translation management systems and processes. It is compatible with software platforms such as SDL Trados Studio, Microsoft Office, Ontram, XTM and Acrolinx IQ. Interverbum Technology has offices in Sweden, Germany, Singapore and the United States. www.interverbumtech.com
Contacts
Press Relations Contacts
euroscript
Isabelle Pericarpin, + 352 314 411 446
isabelle.pericarpin@euroscript.com
Interverbum Technology
Ioannis Iakovidis, + 46 13 32 98 40
ioannis.iakovidis@interverbumtech.com
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BUSINESS WIRE / ME NewsWire SAN FRANCISCO - Tuesday, October 30th 2012
“Past practice” royalties waived for companies taking advantage of a license in Via’s LTE standard essential patent licensing program by April 12, 2013
Via Licensing Corporation today announced an “early-adopter” incentive for initial signing licensees of its LTE (Long-Term Evolution) patent pool announced earlier this month. Any entity that executes the LTE patent license with Via by April 12, 2013, will benefit from a waiver of license fees (and interest) that would have been due for products sold prior to October 15, 2012, implementing the LTE standard.
“Our early-adopter incentive provides great value to licensees that have already been delivering LTE products to the market,” said John Ehler, Director of Wireless Programs, Via Licensing. “This limited-time incentive offers a significant cost savings for companies that need access to the broad coverage of LTE essential patents provided through the pool.”
Full details of the incentive and the complete terms of the license agreement can be obtained directly from Via Licensing. Parties manufacturing or selling LTE devices or components and other implementers of the LTE standard should contact Via by visiting http://vialicensing.com/lte/index.aspxor by sending an email message to lte@vialicensing.comto obtain more information about the LTE patent pool and to request an LTE Patent License Agreement.
AT&T, Clearwire Corporation, Deutsche Telekom AG, DTVG Licensing, HP, KDDI Corporation, NTT DOCOMO, SK Telecom, Telecom Italia, Telefónica, and ZTE Corporation are the initial companies that have agreed to offer their essential LTE patents through Via Licensing’s patent pool. Via’s LTE patent pool provides convenient access to the LTE essential IP of the participating companies in a single, cost-effective transaction.
Participation as a licensor in the LTE licensing program is open to all owners of LTE essential patents. Any party that believes they hold a patent essential to the LTE standard is encouraged to submit the patent for evaluation and, once qualified, to offer their essential patents through the LTE patent pool.
About Via Licensing Corporation
Via Licensing Corporation is a wholly owned subsidiary of Dolby Laboratories Inc. (NYSE: DLB), a company with more than 40 years of experience in technology licensing.
Via Licensing is dedicated to the development and administration of licensing programs for mandated, de facto, and emerging standards on behalf of innovative technology companies in the audio, broadcast, wireless, and automotive markets. For more information about Via Licensing Corporation, please visit vialicensing.com.
Contacts
Via Licensing Corporation
Sean Durkin, +1 415-645-5176
sean.d@vialicensing.com
TriplePoint PR
Jay Nichols, +1 408-772-1551
jnichols@triplepoint.com
ME Newswire / Business Wire
LONDON - Tuesday, October 30th 2012
Ernst & Young supports the recommendations in the report released yesterday by the Financial Stability Board’s (FSB) private sector Enhanced Disclosure Task Force (EDTF) initiative. The EDTF was convened in May 2012 with the objectives of developing principles for enhanced disclosures for banks, based on current market conditions and risks, and identifying leading practice risk disclosures among banks.
The EDTF was unique in its approach by bringing together interested constituents in the process - preparers, investors, rating agencies and auditors - to work toward solutions to enhance disclosures that benefit the investing public.
Ernst & Young encourages all affected stakeholders to carefully consider and work to implement the recommendations of the EDTF. We believe these recommendations are an important step to improving confidence in global systemic financial institutions and financial institutions more broadly, which is fundamental to economic recovery and growth around the world.
“The FSB EDTF has been an important undertaking. I am pleased Ernst & Young participated in this effort and supports the recommendations of this report. Our profession’s role in contributing to the public’s trust in the world’s capital markets has never been more important and efforts such as this are central to the role Ernst & Young has as auditors of or advisors to, many financial institutions”, said Jim Turley, Global Chairman and CEO of Ernst & Young.
-Ends-
Notes to editors
The EDTF report is available: https://www.financialstabilityboard.org
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transactions and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Contacts
Ernst & Young
Daniel Cusworth
Office: +44 (20) 7980 0402
daniel.cusworth@uk.eycom
Book Review: End Times book: THERE IS A STRIVING....! Finding the Gospel Truth in an age of deception By Mazino Abraham Egbuwoku
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Collaboration to utilize respective strengths of each organization
BUSINESS WIRE / ME NewsWire HOUSTON - Tuesday, October 30th 2012
KBR (NYSE:KBR) and Southern Company subsidiary, Southern Generation Technologies, today announced a cooperation agreement through which both organizations will collaborate in an effort to expand the global adoption of Transport Integrated Gasification – or TRIG™ – technology.
Under the terms of this agreement, KBR will lead the sale and delivery of all TRIG™ licenses worldwide, including those for power applications. KBR will provide sales, delivery and project management capabilities, and KBR’s Technology Business Unit will be supported in the power market by its Power Business Unit for the delivery of services. Southern Company’s subsidiary will provide operating and engineering expertise, along with ongoing research and development and technical support.
“This new collaboration between KBR and Southern Company will utilize the respective strengths of each organization to deploy commercial TRIG™ licensed processes worldwide and accelerate the adoption of TRIG™ in the marketplace,” said Bill Utt, KBR Chairman, President & CEO. “Expanding the licensing rights of the technology to encompass power projects now positions KBR into a larger market. This agreement expands KBR’s Technology Business Unit portfolio and is consistent with KBR’s strategy to grow its technology business consistent with the needs of the market.”
TRIG™ technology was jointly developed by KBR and Southern Company with the support of the U.S. Department of Energy. KBR is presently a technology licensor of TRIG™ processes for industrial applications and demonstrates particular strengths in the global sale, marketing, packaging and delivery of technology licenses. Southern Company subsidiary, Southern Generation Technologies, is a technology licensor of TRIG™ for the power industry and specializes in the development, design, deployment and operation of this technology.
“Southern Company is an industry leader in energy innovation,” said Southern Company Chairman, President and CEO Thomas A. Fanning. “Through our continued collaboration with KBR, we are developing and making available real solutions to generate clean, safe, reliable and affordable power – across America and around the world.”
With 4.4 million customers and more than 43,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices below the national average. Southern Company also is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas rankings. Visit our website at www.southerncompany.com.
KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. For more information, visit www.kbr.com.
Contacts
KBR
Zac Nagle, 713-753-3625
Vice President,
Investor Relations and Communications
Investors@kbr.com
Marianne Gooch
Director, Corporate Communications
Media Relations Hotline: 713-753-3800
Mediarelations@kbr.com
Business Wire / ME Newswire
LAKE MARY, Fla. - Monday, October 29th 2012
Harland Financial Solutions announced today its alliance with South Africa-based IZAZI Analytics. IZAZI’s expertise in process and business analysis and in-depth knowledge of the financial industry, combined with Harland Financial Solutions’ CreditQuest® software solution, will provide organizations with a complete credit risk management solution that successfully aligns with their business processes.
CreditQuest is a suite of integrated solutions that are built around the unique needs of credit management. It brings financial analysis, portfolio management, executive reporting, rating model administration and workflow management together into one system that can be deployed as a full suite or individually, depending on the specific needs of the organization. Harland Financial Solutions offers CreditQuest worldwide and has clients in the U.S., Europe, the Middle East and Africa.
“The IZAZI Analytics team brings a strong risk management and software support skill set to our offering for banks and financial institutions in South Africa. IZAZI Analytics will help us provide financial organizations in South Africa with superior end-to-end credit risk management solutions tailored to their unique needs,” said Noel Gilmer, managing director of Harland Financial Solutions Worldwide.
“We are delighted to be working with Harland Financial Solutions to combine our expertise in process and business analysis and consulting with their experience in providing powerful credit risk management software,” said Walter Stevens, CEO of IZAZI Analytics.
About Harland Financial Solutions
Harland Financial Solutions, Inc. (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. It is a leader in core systems, business intelligence, branch automation, payment processing, enterprise content management, lending solutions, risk management, compliance, financial accounting, mortgage solutions, and self-service solutions. The company is an indirect wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke, Scantron and Faneuil.
About IZAZI
IZAZI Solutions is a leading provider of technology enabled business solutions with a key focus on the banking industry. IZAZI has a remarkable track record in providing customized, innovative and efficient solutions for clients, enabling them to realize tangible "bottom line" results from their technology investments. IZAZI currently consults to the majority of South Africa’s banking industry and has a growing presence in the banking industry globally.
The information contained in this press release is accurate at the time of publication. However, service offerings and availability, relationships, contacts and other specified information may change over time.
Contacts
Harland Financial Solutions
Stacey Leone, 407-804-6653
Director, Public Relations
stacey.leone@harlandfs.com
Donna Hinkelman, 210-694-1034
VP, Corporate Communications
donna.hinkelman@harlandclarke.com
