Ticker Archive
JANUARY 2008
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- Deutsche Bank purchases U.S. hedge fund administrator
(Bloomberg)
Deutsche Bank AG purchased U.S. hedge-fund administrator HedgeWorks LLC, adding clients with $10 billion in assets. HedgeWorks provides administrative services to more than 100 hedge funds, Frankfurt-based Deutsche Bank said in an e-mailed statement. HedgeWorks, based in Carlsbad, California, has about 30 employees.
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- SAP plans to expand facilities in Delaware County
(Select News)
SAP Americas Inc. is expanding its Newtown Square facilities by constructing a new 220,000-square-foot building that will house 800 additional employees. The new building is phase one of a two-phase expansion project. The first building is expected to be completed by spring 2009. This new facility will allow SAP to consolidate two companies it recently acquired onto one main corporate campus. The companies are Lighthammer and Triversity of Exton, PA and Bristol, PA, respectively.
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- Wacker finalizes acquisition of Polymer JV
(Press Release)
Wacker Chemie AG has successfully concluded its acquisition of full ownership of Air Products Polymers (APP) and Wacker Polymer Systems (WPS), its two joint ventures with Air Products and Chemicals, Inc. The transaction announced in December 2007 has been cleared by the European and U.S. antitrust authorities.
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- Pfleiderer AG's successful expansion
(Business Wire)
Pfleiderer AG, a leading manufacturer of engineered wood products, announced a significant expansion of its U.S. laminate flooring business. The company unveiled plans to roll out the new Pergo Prestige collection at all Home Depot retail locations in the second quarter of 2008. The Pfleiderer Group started in fall 2007 a comprehensive new marketing program in North America in support of the Pergo brand which is targeting consumers and retail partners.
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- T-Mobile USA gained nearly 1 million customers
(Bloomberg/Inar.de/AP)
Deutsche Telekom significantly increased its worldwide customer base in the 2007 financial year. T-Mobile International added 12 million users, including 7 million outside Germany, for a total of 120 million at the end of 2007, Chief Executive Officer René Obermann said.
Among all divisions T-Mobile USA once again made the largest contribution to continued growth abroad. In the fourth quarter of 2007, the company gained 951,000 net additions in the U.S., recording a total of 28.7 million customers as of the end of the financial year. Hamid Akhavan, who's in charge of T-Mobile International, said he hasn't seen a slowdown in the U.S. unit on concern about an economic recession.
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- DHL denies sale to FedEx
(Memphis Business Journal/Financial Times Deutschland)
DHL spokesman in the U.S. Jonathan Baker said that he denies any plans by DHL's parent company Deutsche Post to sell its U.S. delivery service. "There is no question about our exiting the U.S. business, a withdrawal can be completely ruled out," he added.
Yet, Deutsche Post will write down the value of the DHL Express Americas division by $874 million, the company said. According to the Financial Times Deutschland, citing unidentified company officials, the DHL U.S. delivery service is being offered to FedEx.
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- Continental CEO predicts innovative products
(Crain's Detroit Business)
Continental Automotive is well-positioned for the changing times that require innovative products, said William Kozyra, CEO of Continental Automotive Systems of North America. For example, Continental is working on the next generation of telematics systems for Bluetooth and Wi-Fi and on digital video downloads for movies. Kozyra also predicted a driverless vehicle will one day be a reality and "Continental will be at the forefront".
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- Siemens makes Wisconsin its U.S. water research center
(Journal Sentinel)
Siemens AG makes the shores of Lake Michigan its U.S. water research center. "Wisconsin easily is the most important state for us," said Roger Radke, president and chief executive of Siemens Water Technologies Corp.
The company already relies on two Wisconsin acquisitions to drive growth in its water technologies division: Envirex in Waukesha, Siemens' global R&D center for biological water treatment systems, and Zimpro Environmental near Wausau, which develops industrial water treatments.
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- Crossgate AG announces expansion of U.S. subsidiary
(PR Newswire)
Crossgate AG, a global leader in electronic data interchange, accelerates its continuing global reach with the expansion of its U.S. operations. Crossgate, Inc. is responsible for delivering "on demand" B2B solutions to midsize and large companies in the U.S. The Atlanta headquarters builds on an existing operational base that was established in 2005 in New York City.
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- Schott Solar to invest $100M in New Mexico facility
(Business Weekly)
Schott Solar will build a solar energy technology production facility in Mesa del Sol on the southern edge of Albuquerque. The German company will spend $100 million on the 200,000-square-foot plant, which will employ 350. There are long-term plans to expand it to 800,000 square feet with 1,500 employees, for a total investment of $500 million.
Schott will make receivers for concentrated solar thermal power plants and photovoltaic modules. Production is estimated to begin by summer 2009.
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- EADS to "continue to target" mid-sized U.S. acquisitions
(Thomson Financial)
EADS chief executive Louis Gallois said the company will "continue to target" mid-sized acquisitions in the U.S. EADS will 'invest heavily' in an A330 site in Mobile, Alabama, if it wins the U.S. KC-X tanker competition, Gallois added. A decision is expected from the US Air Force by the end of January.
EADS had been formed in 2000 by the merger of DaimlerChrysler Aerospace AG of Germany, Aérospatiale-Matra of France, and Construcciones Aeronáuticas SA of Spain.
