EVCARCO (OTC.BB:EVCA) is pleased to present to the shareholders of EVCARCO the latest update from its Italian manufacturer TAZZARI.
Over 6 months have passed since ZERO was launched. While a discerning public admires its technological features, ecological concept, its design and the performance of this all-electric vehicle built using cutting-edge techniques, the TAZZARI team is busy planning and defining the vehicle’s coming innovations.
What’s in store for 2011:
Planned for spring next year there will be a number of innovations that are currently at an advanced stage of development.
These include a driver control panel with touch-screen technology. Part of the dashboard, the new control panel will give the driver easy, finger-tip control over a range of vehicle functions. Its design is essential and ultra-modern and this instrument represents a major innovation in the automotive sector, bringing it closer to that of latest-generation communication devices such as the iPod.
Externally, there will be a number of new optional features such as LED lights and front fog lamps. As far as drivability is concerned, adjustable suspensions are being developed to suit all road types, from urban freeways to off-road surfaces. Further developments for ZERO remain top-secret for the time being, but will be disclosed at the end of the year and will be available in 2011.
Spring 2012 will see the Roadster take to the roads.
Just 18 months before we will see the open top version of the TAZZARI ZERO ready for those star-filled summer nights. Available in Spring 2012, the TAZZARI ZERO Roadster is perfect for the free-spirited lovers of driving sensations.
Sauer-Danfoss Inc.(NYSE: SHS) has entered into a new Credit Agreement with Danfoss A/S. The new Credit Agreement replaces the prior credit facility from Danfoss A/S that was set to expire on April 29, 2011. Danfoss A/S is the Company’s majority stockholder.
The new Credit Agreement provides a 5-year term loan of approximately $200 million ($140 million and 45 million euro) and a 3-year revolving credit facility of approximately $300 million ($180 million and 90 million euro). The term loan calls for fixed interest rates of 8.00% and 8.25% for the U.S. dollar and euro loans, respectively. The revolving credit facility bears interest at the underlying base rate plus 3.90%. The Company will pay an up-front fee of approximately $4.2 million. In addition, the Company will pay approximately $1.7 million in prepayment penalties for early cancellation of the loans outstanding under the prior credit facility. By paying off the previous loans early and re-borrowing at the lower rates under the new Credit Agreement, Sauer-Danfoss will save approximately $12.7 million of interest and commitment fees through April 29, 2011.
Sauer-Danfoss Inc. is a worldwide leader in the design, manufacture, and sale of engineered hydraulic, electric and electronic systems and components for use primarily in applications of mobile equipment. Sauer-Danfoss, with 2009 revenues of approximately $1.2 billion, has sales, manufacturing, and engineering capabilities in Europe, the Americas, and the Asia-Pacific region.
THL Credit, Inc. (NASDAQ: TCRD) reports its participation in the acquisition of Country Pure Foods, LLC (�Country Pure�) led by Mistral Equity Partners. THL Credit provided mezzanine financing for the transaction. Country Pure, headquartered in Akron, OH, is a leading independent producer and distributor of premium quality juices in the United States.
THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit�s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. THL Credit invests primarily in private subordinated debt, or mezzanine debt, in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit�s investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.
Thomas & Betts Corporation (NYSE:TNB) has acquired Cable Management Group, Ltd. (CMG), a privately held, leading global manufacturer of cable protection systems specified in industrial and infrastructure / construction applications, for �70 million (approximately $110 million) from available cash reserves. Based in Birmingham, U.K., CMG reported sales of approximately �28 million (approximately $44 million) for the fiscal year ended July 31, 2010.
CMG manufactures a broad range of metallic and non-metallic flexible conduit and fitting systems used to protect critical power and data systems from fire, dust, moisture, vibration and corrosion. Marketed worldwide under the Adaptaflex, Kopex and Harnessflex brand names, key vertical markets for CMG products include rail, machine building, petrochemical, oil and gas, mining, heavy vehicle, automation and construction / infrastructure.
Thomas & Betts Corporation is a global leader in the design, manufacture and marketing of essential components used to manage the connection, distribution, transmission and reliability of electrical power in industrial, construction and utility applications. With a portfolio of over 200,000 products marketed under more than 45 premium brand names, Thomas & Betts products are found wherever electricity is used. Headquartered in Memphis, Tenn., Thomas & Betts reported revenues of $1.9 billion and had approximately 8,500 employees in 2009.
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