WOOD

EQS-News: CPI PROPERTY GROUP – Update on Disposals

Retrieved on: 
Wednesday, March 13, 2024

CPI PROPERTY GROUP (“CPIPG” or the “Group”) is pleased to provide our stakeholders with an update on the Group’s disposal programme.

Key Points: 
  • CPI PROPERTY GROUP (“CPIPG” or the “Group”) is pleased to provide our stakeholders with an update on the Group’s disposal programme.
  • Today, CPIPG completed the sale of Metrogate House, a student accommodation property located in South Kensington, London, to a local investor.
  • Last week, CPIPG completed the disposal of Concept Tower, an office building located in Warsaw’s inner Wola district, to WOOD & Company Real Estate Fund.
  • Earlier in February, IMMOFINANZ AG sold the Grand Center Zagreb office property to a local real estate investor in Croatia.

Power Solutions International Appoints Randall Lehner as General Counsel

Retrieved on: 
Friday, March 1, 2024

WOOD DALE, Ill., March 01, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company”) today announced that on February 7, 2024, the Board of Directors of the Company appointed Randall D. Lehner as its General Counsel, effective March 4, 2024.

Key Points: 
  • WOOD DALE, Ill., March 01, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company”) today announced that on February 7, 2024, the Board of Directors of the Company appointed Randall D. Lehner as its General Counsel, effective March 4, 2024.
  • Mr. Lehner is an accomplished Legal Counsel who has more than 20 years of legal experience in the areas of complex commercial litigation, arbitration, regulatory compliance, internal controls and strategy, among others.
  • Most recently, from May 2020 to February 2024, Mr. Lehner served as associate general counsel for Guaranteed Rate, LLC, a leading mortgage company, where he was a member of the executive leadership management team with primary responsibility for litigation and legal risk management.
  • Prior to Kelly, Drye & Warren, LLP, from 1997 to 2014, Mr. Lehner worked at several other prestigious law firms.

AAR to announce third quarter fiscal year 2024 results on March 21, 2024

Retrieved on: 
Thursday, March 7, 2024

WOOD DALE, Ill., March 7, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that it will release financial results for its third quarter of fiscal year 2024, ended February 29, 2024, after the close of the New York Stock Exchange trading session on Thursday, March 21, 2024.

Key Points: 
  • WOOD DALE, Ill., March 7, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that it will release financial results for its third quarter of fiscal year 2024, ended February 29, 2024, after the close of the New York Stock Exchange trading session on Thursday, March 21, 2024.
  • On Thursday, March 21, 2024, at 3:45 p.m. Central time, AAR will hold a conference call to discuss the results.
  • The conference call can be accessed by registering at https://register.vevent.com/register/BIdf08c4f6d49042bebbb16a2c5934bf64 .
  • Once registered, participants will receive a dial-in number and a unique PIN that will allow them to access the call.

AAR Prices Upsized Offering of Senior Notes to Finance Triumph Product Support Acquisition

Retrieved on: 
Wednesday, February 14, 2024

The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes.

Key Points: 
  • The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes.
  • The Company intends to use the net proceeds of the senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
  • If the senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.
  • Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer.

AAR announces update to financing of Triumph Product Support acquisition

Retrieved on: 
Wednesday, February 14, 2024

The Company intends to use the net proceeds of the proposed senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").

Key Points: 
  • The Company intends to use the net proceeds of the proposed senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
  • If the proposed senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.
  • Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer.
  • Substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Escrow Issuer will merge with and into the Company, with the Company continuing as the surviving entity.

Power Solutions International (PSI) engines featured at World Ag Show

Retrieved on: 
Tuesday, February 13, 2024

WOOD DALE, Ill., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, is excited to announce it will feature products during the World Ag Show, scheduled February 13 to February 15 in Tulare, Calif.

Key Points: 
  • WOOD DALE, Ill., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, is excited to announce it will feature products during the World Ag Show, scheduled February 13 to February 15 in Tulare, Calif.
    Husker Power Products, a custom power product integrator, will display several products featuring our 5.7L, 6.7L NA, 6.7LT, 10LT, 13LT and 20L engines in its booth, located in H35 in the North Exhibit area of Tulare’s International Agri-Center.
  • Amarillo Wind Machine, a manufacturer of high-quality wind machines globally, will debut PSI’s 5.7-liter stationary industrial engine in one of its machines on display in booths SS57 and SS59 in the South Exhibit area.
  • This is PSI’s most recent debut in the wind machine market.

Power Solutions International (PSI) Showcases Engines at PowerGen Trade Show

Retrieved on: 
Monday, January 22, 2024

WOOD DALE, Ill., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, is excited to announce its participation in PowerGen International, taking place from January 23 to January 25 at the Ernest N. Morial Convention Center in New Orleans.

Key Points: 
  • WOOD DALE, Ill., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, is excited to announce its participation in PowerGen International, taking place from January 23 to January 25 at the Ernest N. Morial Convention Center in New Orleans.
  • The event brings together industry professionals, experts and innovators to explore the latest advancements in power generation technologies.
  • PSI is proud to be a part of the event, showcasing its 20-liter and 2.4-liter Turbo engines in Booth 2544.
  • The engines are part of PSI’s Power Systems line, known in the industry for their exceptional performance, reliability and efficiency.

AAR signs new multi-year military distribution agreement with Ontic

Retrieved on: 
Thursday, January 4, 2024

AAR currently provides military distribution support to Ontic's Cheltenham, United Kingdom, facility and commercial distribution support to Ontic's Creedmoor, North Carolina, facility.

Key Points: 
  • AAR currently provides military distribution support to Ontic's Cheltenham, United Kingdom, facility and commercial distribution support to Ontic's Creedmoor, North Carolina, facility.
  • Under this additional contract, AAR will support Ontic's Chatsworth, California, facility.
  • "Ontic is pleased to deepen our partnership with AAR through this new agreement.
  • "AAR is enthusiastic about bolstering our strategic military portfolio by expanding our Ontic relationship to include the Chatsworth facility," said Ross Wuestenfeld, Vice President of AAR's Distribution – Defense.

AAR reports second quarter fiscal year 2024 results

Retrieved on: 
Thursday, December 21, 2023

Our adjusted diluted earnings per share from continuing operations in the second quarter of fiscal year 2024 were $0.81, compared to $0.69 in the second quarter of the prior year.

Key Points: 
  • Our adjusted diluted earnings per share from continuing operations in the second quarter of fiscal year 2024 were $0.81, compared to $0.69 in the second quarter of the prior year.
  • Consolidated second quarter sales increased 16% over the prior year quarter.
  • Gross profit margins were 19.0% in the current quarter, compared to 18.3% in the prior year quarter.
  • Operating margins were 7.0% in the current quarter, compared to 6.9% in the prior year quarter.

Power Solutions International Announces Extension to $50 Million Shareholder Loan Agreement With Weichai America

Retrieved on: 
Tuesday, December 5, 2023

WOOD DALE, Ill., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it amended and restated its $50 million shareholder’s loan agreement with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of November 29, 2023 (the “Third Shareholder’s Loan Agreement”), to extend the loan maturity date to November 30, 2024.

Key Points: 
  • WOOD DALE, Ill., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it amended and restated its $50 million shareholder’s loan agreement with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of November 29, 2023 (the “Third Shareholder’s Loan Agreement”), to extend the loan maturity date to November 30, 2024.
  • Borrowings under the Third Shareholder’s Loan Agreement will incur interest at the applicable Secured Overnight Financing Rate (“SOFR”), plus 4.05% per annum.
  • If the interest rate for any loan under the Third Shareholder’s Loan Agreement is lower than Weichai’s borrowing cost, the interest rate for such loan shall be equal to Weichai’s borrowing cost plus 1%.
  • Additional details on the Third Shareholder’s Loan Agreement can be found in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 5, 2023.