Company News

US-based Constellation and Exelon have announced merger plans.

MATHESON has successfully acquired the assets and business of Quimby Welding Supplies, Inc., based in Portland, Oregon. Quimby is the biggest independent welding supply business in the greater Portland, Oregon and southern Washington areas. With this purchase, MATHESON will add four new locations to its network; the acquired business will become a part of the MATHESON Packaged Division.

Cleeve Technology, supplier of wire & cable and interconnect products to electronics markets, has expanded its operations into Western Canada. This further enhances the company’s servicing abilities for its clients in the Mountain and Pacific Time Zones. Established 12 years ago, Cleeve operates worldwide with offices in the United Kingdom, The Netherlands, Germany and Australia.

ESAB Welding & Cutting Products will construct and operate a new manufacturing plant in South Carolina for its line of MIG and sub-arc welding wires. As a result of this decision, the company will shut down its plant in Ohio. The new 25,000sq/ft plant will be built in Union County, S.C.; the move will allow the company to improve its manufacturing process. Manufacturing will continue at their current plant in Ashtabula, Ohio until the new operation, equipped with new assembly lines and new production equipment, is ready.

Chevron has appointed Paul V. Bennett as vice president and treasurer, effective 1 May 2011. Having served in several senior corporate and operating financial positions, including oversight of Chevron's credit and receivables operations, Bennett is highly qualified to guide financing strategies for the company's overall corporate capital structure as well as their major development projects. He is broadly experienced in treasury and risk management and in his current position, Bennett played an instrumental role in helping to streamline the Downstream and Chemicals business, transforming it into a more profitable, lower-cost organization.

International Finance Corporation, a branch of World Bank, will invest USD 30 million in Kalyani Gerdau Steels to help revive the company’s operations that were shut down for more than 18 months. A JV between the Brazilian steel firm Gerdau and India’s Kalyani group, the company discontinued operations upon realizing that they were unviable due to certain technical issues.

Puma Energy will acquire ExxonMobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Formed in 1997 and headquartered in Switzerland, Puma Energy has quickly grown to become one of the world's largest independent downstream companies. The company is a subsidiary of Trafigura Beheer BV and now operates in 23 countries worldwide.

Petrobras Chile has received the 2010 Outstanding Company of the Year Award for its contribution to the economic development of Brazil and Chile. CEO of Petrobras Chile, Vilson Reichemback, accepted the award given by the president of the Chilean-Brazilian Chamber of Commerce, Juan Irarrázabal, and the Ambassador of Brazil in Chile, Frederico Cezar de Araújo, in Santiago.

Nordex has added the N117/2400 wind turbine to its Gamma Generation of turbines. The new turbine was designed specifically for light wind sites, creating new power generating potential for locations across the USA. The company will debut the N117/2400 for the US market at Windpower in Anaheim, California from May 2011. The new turbine will increase America’s wind potential by turning many light wind sites into feasible power producing areas.

The Minister of Industry has approved Cliffs Natural Resources proposed acquisition of Consolidated Thompson Iron Mines Limited, under the Investment Canada Act. The acquisition was approved on the basis that the transaction will likely be a net benefit to Canada.  The Chinese Ministry of Commerce's (MOFCOM) approval is also necessary to proceed with the closing of the acquisition