Intermet Chairman and CEO Gary Ruff Resigns

first_imgDeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.  DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. TROY, MI — Gary Ruff, chairman and chief executive officer (CEO) of Intermet Corp., has resigned. Ruff joined the company in 1999 and became chairman and CEO in 2004. A reason for his departure was not provided. AdvertisementClick Here to Read MoreAdvertisement The company’s board of directors has elected Gil West as interim CEO and Jeff Mihalic as interim president, effective immediately. West and Mihalic are from Q Investments, a Fort Worth, TX, investment Firm, which is an investor in Intermet. Prior to joining Q Investments, West held senior leadership positions at TIMCO Aviation Services, Northwest Airlines and United Airlines. Prior to joining Q Investments, Mihalic held senior leadership positions at Bombardier Aerospace and United Airlines. For more information about Intermet, go to: http://www.intermet.com . _______________________________________ Click here to view the rest of today’s headlines.,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit. last_img read more

Eastern Catalytic Names Charles Pantano to Lead Emissions Certification Programs

first_imgLANGHORNE, Pa. — Eastern Catalytic has appointed Charles Pantano to head up its emissions certification efforts. AdvertisementClick Here to Read MoreAdvertisement The announcement was made by George Schafer, president of Eastern Manufacturing, who noted, “As a leading manufacturer of world class catalytic converters, it is extremely important for us to be able to quickly and effectively meet the ongoing requirements of global emissions. Charles Pantano comes to us with a great deal of engineering and design experience and expertise, as well as a strong, hands-on knowledge of the automotive business. We will be looking to him to provide us with the leadership to address our certification needs and further expand Eastern’s catalog of certified catalytic converters.” In this new role, Pantano will be responsible for assuring that Eastern Catalytic products are designed to meet the testing requirements and performance compliance criteria established for catalytic converters by various regulatory agencies, including CARB and EPA. His duties will include: defining production exhaust configurations; technical liaison to component suppliers; qualifying technologies and ensuring performance, durability, and quality compliance; supporting catalyst development and certification programs, production selection of catalyst, product verifications and validation and assistance of commercial launch for new converters. Before joining Eastern Catalytic, Pantano enjoyed a successful career as an electro-mechanical engineer. Most recently, he worked as a product design engineer for Advent Design (Bristol, Pa.) from 2006-2009 where he designed and manufactured high speed automated assembly equipment for various industries. From 2004-2006, Pantano was a senior mechanical engineer at Ocean Power Technology (Ewing, N.J.) and was responsible for the designing and fabricating of large-scale ocean buoys that generate renewable energy through wave power. Prior to that, he spent five years as an electrical/mechanical engineer with Alpha Automation (Trenton, N.J.). Advertisement In addition to his career activities, Pantano is also an automotive performance buff and active NHRA drag racer. Since 1982, Pantano has designed and built various engines for local racers. He has an NHRA competition license and competes locally in NHRA events. He also holds an Amateur Radio Operator Advance Ticket.last_img read more

Resolution in Alphabeta testing on City fringe

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Keppel FELS Delivers ‘Discovery Triumph’ Rig Ahead of Schedule

first_img[mappress] June 2, 2013 Keppel FELS Limited (Keppel FELS) has delivered its first KFELS Super A Class jackup rig to the Luxembourg-headquartered Discovery Offshore S.A. Discovery Offshore, a drilling contractor focused on ultra high-specification jackups is managed by NASDAQ-listed Hercules Offshore, Inc.Named Discovery Triumph at a ceremony yesterday, the first KFELS Super A Class jack-up has been delivered 46 days ahead of schedule and with a perfect safety record.The ultra high-specification jack-up rig has been designed for the harsh environmental conditions of the UK sector of the North Sea. According to Keppel, the rig’s enhanced leg design incorporates “Keppel’s proven and reliable high capacity rack and pinion jacking system which ensures that the rig is able to jack up and stand firm in a secure and safe manner even in challenging environments”.Wong Kok Seng, Managing Director (Offshore), Keppel Offshore & Marine and Managing Director, Keppel FELS said, “In developing the KFELS Super A Class, we have brought together the winning features of our proven jackup rig designs to provide operators with a robust and cost-effective drilling rig for harsh environments and cold climate areas. We are pleased that Discovery Offshore has selected this design for their first two harsh environment rigs.“Although it is a new design, our expertise and strong engineering, construction and project management experience has enabled us to deliver it ahead of schedule while achieving an excellent safety record. We look forward to delivering the second KFELS Super A Class to Discovery Offshore just as efficiently.”Developed by Keppel FELS’ R&D arm, Offshore Technology Development (OTD), the KFELS Super A Class is an enhancement of the successful and proven KFELS A Class design. Discovery Triumph has been customised to meet the requirements of Discovery Offshore and is capable of operating in water depths of 400 feet and drilling depths of 35,000 feet. John T. Rynd, CEO of Hercules Offshore added, “With the strong demand for rigs capable of working in the North Sea, we believe the KFELS Super A Class is a value proposition rig with leading performance compared to ultra high specification jack-ups of its class. It provides higher variable load, better drilling capabilities, better cantilever load performance and a larger deck space. Keppel-designed rigs have a strong track record of being industry benchmarks and we are confident that Discovery Triumph will be just as successful and exceed the expectations and requirements of all our customers.“As this North Sea-compliant rig is able to operate efficiently in virtually all parts of the world outside Norway and the Arctic, we also see many opportunities for it to be deployed in other parts of the world to generate maximum utilisation. With another KFELS Super A Class rig about to join Discovery Triumph later this year, we are well positioned to become a strong player in harsh environment drilling.”Keppel FELS is currently building another KFELS Super A Class jackup rig for Discovery Offshore as well as another three for Ensco.For greater operational safety, the KFELS Super A Class is equipped with the state-of-the-art pinion overload detection, rack phase difference detection, and brake failure and overload protection devices. In addition to having strong drilling capabilities and cantilever load performance, the KFELS Super A Class has a two million pound hook load drilling system and includes a spacious deck and amenities to accommodate 150 men.last_img read more

Tax

first_imgAppeal – Commissioners – Stamp duty Lancer Scott Ltd v Revenue and Customs Commissioners: Upper Tribunal (Tax and Chancery Chamber) (Judge Colin Bishopp): 10 January 2012 The taxpayer company had purchased five flats. Contracts were exchanged on 2 October 2009 and the consideration was paid in full on 9 October. Land transaction returns were submitted on 20 November, 42 days after completion of the transaction. The First-tier Tribunal (Tax Chamber) (the FTT) concluded that the returns had been submitted late, and a penalty of £100 for each return had been due. The FTT had further found that there had been no reasonable excuse for the late returns. The taxpayer appealed the decision. The taxpayer contended that the FTT had wrongly treated 9 October 2009 as the date from which its time to submit the returns had begun, and that the FTT should have taken a date in December 2009, since until its title was registered by the Land Registry, the taxpayer was not the lawful owner of the flats. In support of that submission, the taxpayer relied on section 44(5) of the Finance Act 2003 (the 2003 act), which provided that a contract was substantially performed when: ‘(a) the purchaser, or a person connected with the purchaser, takes possession of the whole, or substantially the whole, of the subject matter of the contract; or (b) a substantial part of the consideration is paid or provided.’ The appeal would be dismissed. The appellant’s argument was untenable. The FTT was right to conclude that the effective date was 9 October 2009. The inference to be dawn from the facts was that the contracts exchanged on 2 October contemplated completion, and in particular payment of the price, on a later date, in the event 9 October. Since the entirety of the consideration was paid on 9 October that was the effective date. Further, paragraph (a) of section 44(5) of the 2003 act referred to ‘possession’ rather than ‘ownership’ and there had been no impediment to the appellant taking possession. By paying the contractual price, the appellant had secured the right to be registered as owner and what had followed had not undermined that substantive right (see [8], [9] and [10] of the judgment).center_img The parties made written submissions only.last_img read more

Freshfields tops 2015 M&A rankings

first_imgMagic circle firm Freshfields Bruckhaus Deringer continues to be ranked one of the top global law firms to advise on mergers and acquisitions as last year’s post-financial crisis M&A high continued into 2015.The London-headquartered firm came fourth in Mergermarket’s league table of legal advisers ranked by deal value in the first quarter of 2015, jumping two places from Q1 2014.In the quarter it worked on 37 deals with a total value of £77m.Magic circle firms Linklaters (£57m) and Clifford Chance (£32m) also made the top 20. The top spot was taken by US firm Sullivan & Cromwell, which worked on 31 deals with a total value of $146.7m (£100m).Freshfields led the European table for deal value (£42m). Linklaters (£28m), Clifford Chance (£20m) and Slaughter and May (£19.5m) also made the top five.Deal values in Europe were slightly higher than Q1 2014, with M&A valued at £126bn.The most valuable sector was telecommunications, with deals adding up to £29bn.The UK’s M&A value was more than triple Q1 2014, with £51bn-worth of deals, reaching the highest quarterly value since Q4 2009. Over half of the activity came from bidders outside Europe with deals valued at £30bn.last_img read more

VTG acquires AAE to expand wagon leasing fleet

first_imgEUROPE: German wagon leasing and logistics company VTG AG announced on September 29 that it had agreed terms to acquire Swiss leasing company Ahaus Alstätter Eisenbahn Holding AG, in order to strengthen its position as the ‘largest private wagon hire company in Europe’. Subject to approval by the competition authorities, the transaction is expected to be completed in the first half of 2015.AAE operates a fleet of around 30 000 wagons, which is primarily focused on the intermodal market. VTG initially specialised in tank wagons, but has subsequently expanded into other sectors including rail logistics. AAE is currently active in 24 countries across Europe, including Russia, and has an average fleet age of around 15 years. By comparison, the age of the 50 000-strong VTG fleet averages 23 years.The company says the acquisition ‘rounds off VTG’s wagon and service range in Europe and closes a vital gap in its product portfolio’, noting that demand for intermodal transport is expected to double by 2030. It will also bring a significant increase in revenue, with EBITDA expected to increase by more than 75%.The acquisition is to be funded through a mix of €15m in cash, a €230m vendor loan note and the issuing of additional shares. AAE owner Andreas Goer will take 7·4 million of the new VTG shares to hold a 26% stake in the combined business, but says he does not intend to seek control of the company. VTG will also pay an extra €3m if ‘certain conditions’ are met.‘Acquiring AAE represents a major strategic step forward’, said VTG CEO Dr Heiko Fischer, adding that the merger ‘will lead to the establishment of the only single-source provider of all essential wagon segments for rail freight transport throughout Europe’.Goer described VTG as ‘an innovative, strategically-driven company with clear direction for a long time’, explaining that he was ‘delighted to see my family’s life’s work in such capable and reliable hands, and to continue to accompany the common enterprise on its journey into the future’.Based at Baar in Switzerland, AAE had a turnover of around €200m in 2013, and total debts of around €890m. The company recently parted company with its former CEO, citing a difference of opinion over the future direction for the business.last_img read more

Trans-Pennine ETCS procurement begins

first_imgUK: Network Rail has begun the process of appointing a contractor to supply and maintain ETCS Level 2 for the line between Stalybridge near Manchester and Cottingley near Leeds as part of the Trans-Pennine Route Upgrade Programme. The selected contractor would be expected to maintain the ETCS equipment over its anticipated 30-year service life, and would be responsible for upgrading GSM-R systems and providing maintenance during a two-year defects and liability period. The ETCS is required to integrate with other civil works, track and railway system enhancements on the route. These are being designed by the Transpire alliance of BAM Nuttall, Amey and Arup under the West of Leeds Alliance contract awarded in April 2017. Interlockings and trackside equipment would be provided by other suppliers, with the exception of balises and signage which would be included in the ETCS contract. The contract may also include provision for Automatic Train Operation at Grade of Automation 2, with trains starting and stopping automatically under the supervision of a driver. The infrastructure manager envisages inviting four bidders to tender for the contract, which is estimated to be worth between £180·5m and £210·5m. Requests to participate are to be submitted by September 12, with invitations to tender expected to follow by the end of October. Strategic outcomes The Department for Transport’s ‘high level strategic outcome’s for the Trans-Pennine Route Upgrade Programme require the line to support a Leeds – Manchester Victoria journey time of 44 min with one stop and a York – Manchester Victoria journey time of 67 min with two stops; 92% of trains must arrive at four key stations within 5 min of the scheduled time. The route must have the capacity to accommodate inter-city trains comprising eight 24 m long vehicles and local services formed of up to six 24 m vehicles. The Trans-Pennine route was last year designated as a priority project for NR’s digital railway strategy by then Secretary of State for Transport Chris Grayling.last_img read more

President Savarin commends VOSH & Rotary Club

first_img Sharing is caring! 243 Views   no discussions Share Share President Charles Savarin and First lady Clara Savarin meeting a VOSH team memberPresident of the Commonwealth of Dominica Charles A. Savarin has praised a US based team for providing free eye care services to nationals.The Volunteer Optometry Services for Humanity (VOSH) team in collaboration with the Rotary Club of Dominica have been providing free eye clinics around the island this week as part of its annual vision program.The President and First Lady Clara Savarin visited one of the eye clinics at the Goodwill Parish Hall in Roseau on Thursday 22 January 2015.“This annual visit by the VOSH team in collaboration with the Rotary Club is a tremendous community service that is being arranged in a very vital area of the health of the people of Dominica,” The President said.Mr Savarin, who informed that his second visit to the VOSH Eye Clinic as President, said he is amazed by the number of people who come to be screened and receive medication.The President added that in discussions with the VOSH team leader Dr. Dan Wruble he learnt that many of the people who attend the VOSH clinics were referred by local doctors.President Savarin said this is important because the VOSH team needs to know the health condition of patients before any prescriptions can be given.“I think we have to express our appreciation, first of all to the Rotary Club who are the sponsors of this activity year after year, and the VOSH volunteers themselves who come to Dominica and elsewhere, I presume, to offer that service,” The President said.Meanwhile, president of the Rotary Club Marie Jose Edwards expressed thanks to The President and First Lady for visiting the clinic and for supporting the Club’s various activities and initiatives.“Today we just want to thank His Excellency for coming out and seeing what we have been doing”.“We know that we can rely on him and on his Office to assist us cause as you know voluntarily organizations cannot do it alone without the assistance of the private sector,” Ms Edwards stated.She also expressed gratitude to the VOSH team for its support and commitment to assisting Dominicans.VOSH is a non-governmental, non-sectarian, apolitical organization is dedicated to the provision of eye and vision care services for those who are below the poverty level and without access to local eye care.– / 23center_img LocalNews President Savarin commends VOSH & Rotary Club by: Dominica Vibes News – January 22, 2015 Share Tweetlast_img read more

25 to be recognized ahead of Castle Bruce feast

first_imgLocalNews 25 to be recognized ahead of Castle Bruce feast by: – August 8, 2015 Share Sharing is caring! 279 Views   no discussions Tweetcenter_img Parliamentary representative for the Castle Bruce Constituency, Johnson DrigoTwenty- five residents of Castle Bruce will be recognized on Saturday 8 August 2015 for their contributions towards the community. The residents will be awarded in the areas of education, agriculture, health, youth and sports, community development and entrepreneurship.Parliamentary representative for Castle Bruce, Johnson Drigo said the awards ceremony is taking place ahead of the annual parish feast, ‘Lady of Health’ carded for 14-16 August 2015. “Additionally we will be awarding persons in the diaspora who have been giving back to the community on a regular basis, there is an association called the Castle Bruce Houston Association, they will be recognized because they have been giving tremendously to the community in scholarship, sporting equipment and these areas and so and so this evening we will be saying thank you to these outstanding individuals who have done remarkably for the community,” Minister Drigo said. Mr. Drigo said some of the awardees include retirees and youth.Some of the activities to mark the feast will include three nights of mass organized by the Catholic Church, panel discussion on Education where the principals of both primary and secondary schools in the community, a representative from the Dominica State College and Preschool Teacher will speak on the strengths and areas to be improved on and to ensure all education opportunities are taken advantage of. Saturday 15 August, there will be a band splash featuring Triple Kay Global with a performance from Asa Banton while on Sunday 16 August, there will be a cultural gala, domino competition, an appearance by past queen contestants, Midnight Groovers and the First Serenade Bands. Share Sharelast_img read more