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Warrior Met Coal Adopts Rights Agreement to Protect Net Operating Loss Carryforwards

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Warrior Met Coal, Inc. (NYSE:HCC) (Warrior or the Company) announced today that its Board of Directors (the Board) has adopted a net operating loss carryforwards (NOLs) rights plan (the Rights Agreement) in an effort to prevent the imposition of significant limitations under Section 382 of the Internal Revenue Code (the Code) on its ability to utilize its current NOLs to reduce its future tax liabilities.

The Rights Agreement is intended to supplement the charter restriction already in place on the acquisition of more than 4.99% of Common Stock without the approval of the Board, contained in the Companys Certificate of Incorporation, the extension of which the stockholders of the Company approved at the 2019 Annual Meeting of Stockholders.

The Company had federal and state NOLs totaling approximately $786 million and $860 million, respectively, as of December 31, 2019. The Companys use of its NOLs could be substantially limited if the Company experiences an ownership change (as defined in Section 382 of the Code). In general, an ownership change occurs if there is a cumulative change in a companys ownership by five percent shareholders (as defined in Section 382 of the Code) that increases by more than fifty percentage points over the lowest percentage of stock owned by such stockholders at any time during the prior three-year period or, if sooner, since the last ownership change experienced by the Company. The Company noted that the Rights Agreement is designed to serve the interests of all stockholders by preserving the availability of its NOLs and is similar to plans adopted by other companies with significant NOLs.

The Rights Agreement in combination with the charter restriction already in place should protect the significant value of the NOLs to the Company until they are fully utilized, which should enhance free cash flow generation as well, said Dale W. Boyles, Chief Financial Officer of Warrior.

Pursuant to the Rights Agreement, one preferred stock purchase right (a Right or the Rights) will be distributed to stockholders of the Company for each share of Common Stock, par value $0.01 per share, of the Company outstanding as of the close of business on February 28, 2020. Initially, these Rights will not be exercisable and will trade with the shares of Common Stock. If the Rights become exercisable, each Right will initially entitle stockholders to buy one one-thousandth of a share of a newly created series of preferred stock designated as Series A Junior Participating Preferred Stock at an exercise price of $31.00 per Right. While the Rights Agreement is in effect, any person or group that acquires beneficial ownership of 4.99% or more of the Common Stock or any existing stockholder who currently owns 5.00% or more of the Common Stock that acquires any additional shares of Common Stock (such person, group or existing stockholder, an Acquiring Person) without approval from the Board would be subject to significant dilution in their ownership interest in the Company. In such an event, each Right will entitle its holder to buy, at the exercise price, Common Stock having a market value of two times the then current exercise price of the Right and the Rights held by such Acquiring Person will become void. The Rights Agreement also gives discretion to the Board to determine that someone is an Acquiring Person even if they do not own 4.99% or more of the Common Stock but do own 4.99% or more in value of the outstanding stock, as determined pursuant to Section 382 of the Code and the regulations promulgated thereunder. In addition, the Board has established procedures to consider requests to exempt certain acquisitions of the Companys securities from the Rights Agreement if the Board determines that doing so would not limit or impair the availability of the NOLs or is otherwise in the best interests of the Company. The Board may redeem the Rights for $0.01 per Right at any time before any person or group triggers the Rights Agreement. The distribution of the Rights is not a taxable event for stockholders of the Company and will not affect the Companys financial condition or results of operations (including earnings per share).

The Rights will expire on the earliest of (i) the close of business on February 14, 2023, (ii) the close of business on the first anniversary of the date of entry into the Rights Agreement, if stockholder approval of the Rights Agreement has not been received by or on such date, (iii) the time at which the Rights are redeemed as provided in the Rights Agreement, (iv) the time at which the Rights are exchanged as provided in the Rights Agreement, (v) the time at which the Board determines that the NOLs are fully utilized or no longer available under Section 382 of the Code, (vi) the effective date of the repeal of Section 382 of the Code if the Board determines that the Rights Agreement is no longer necessary or desirable for the preservation of NOLs, or (vii) the closing of any merger or other acquisition transaction involving the Company pursuant to an agreement of the type described in the Rights Agreement. Additional details about the Rights Agreement will be contained in a Form 8-K to be filed with the U.S. Securities and Exchange Commission (the SEC).

About Warrior

Warrior is a U.S.-based, environmentally and socially minded supplier to the global steel industry. It is dedicated entirely to mining non-thermal metallurgical (met) coal used as a critical component of steel production by metal manufacturers in Europe, South America and Asia. Warrior is a large-scale, low-cost producer and exporter of premium met coal, also known as hard-coking coal (HCC), operating highly-efficient longwall operations in its underground mines based in Alabama. The HCC that Warrior produces from the Blue Creek, AL, coal seam contains very low sulfur, has strong coking properties and is of a similar quality to coal referred to as the premium HCC produced in Australia. The premium nature of Warriors HCC makes it ideally suited as a base feed coal for steel makers and results in price realizations near the Platts Index price. For more information, please visit www.warriormetcoal.com.

Forward-Looking Statements

This press release contains, and the Companys officers and representatives may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements, including, without limitation, statements regarding (a) our future taxable income, (b) our ability to utilize and realize the value of our NOLs and how they could be substantially limited if we experienced an ownership change as defined in Section 382 of the Code, (c) whether the Rights Agreement or the charter restriction will reduce the likelihood of such an unintended ownership change from occurring, (d) the potential impact of the utilization of our NOLs on our expected free cash flow generation and (e) the potential impact of distribution of Rights on our financial condition and results of operations. The words believe, expect, may, anticipate, plan, intend, estimate, project, target, foresee, should, would, could, potential, or outlook, guidance or other similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements represent managements good faith expectations, projections, guidance or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Companys control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation, (a) federal and state tax legislation; (b) the difficulty of determining all of the facts relevant to Section 382 of the Code; (c) unreported buying and selling activity by the Companys stockholders; (d) fluctuations in the amount of cash the Company generates from operations, including cash necessary to pay any special or quarterly dividend or the timing and amount of any stock repurchases the Company makes under its stock repurchase program; and (e) the adoption of the Rights Agreement may not prevent one or more of the Companys stockholders from, notwithstanding the dilution to such stockholders interest, engaging in buying and selling activity that may have an adverse impact on the Companys tax attributes. Information on factors that may impact these forward-looking statements can be found in the Companys Form 10-K for the year ended December 31, 2018 and other reports filed from time to time with the SEC, which could cause the Companys actual results to differ materially from those contained in any forward-looking statement. The Companys filings with the SEC are available on its website at www.warriormetcoal.com and on the SECs website at www.sec.gov.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors.

For Investors:

Dale W. Boyles, 205-554-6129

[email protected]

For Media:

Jason Houston, 205-554-6228

[email protected]

News

The LYCRA Company to Showcase Latest Technologies at Intertextile Shanghai

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The LYCRA Company, a global leader in developing innovative fiber and technology solutions for the apparel industry, will exhibit its latest products designed to meet consumer needs at Intertextile Shanghai, which takes place on September 23-25. Themed RENEW, REDEFINE, REINFORCE, the presence at the show will allow visitors to learn about the new LYCRA Anti-Slip fiber technology. Other well-received technologies such as LYCRA FitSense„¢ technology, LYCRA MyFit„¢ fiber and COOLMAX freshFX technology will also be showcased.

Every industry is facing unprecedented challenges this year and the apparel industry is no exception, said Julien Born, President, Apparel, The LYCRA Company. We have been pleased to see that, despite market uncertainties, there is still a strong appetite for innovation as brands look to keep an edge and offer better value to consumers. Innovation has always been in The LYCRA Companys DNA, which we believe is key to address the increasing demands for functional and sustainable apparels globally.

Asia is set to be the key driver for The LYCRA Companys global growth, said Steve Stewart, Apparel Vice President, Asia, The LYCRA Company. As such, we will continue our innovation journey by launching new technologies, such as the ones we are showcasing at Intertextile. Only by working closely with our partners and customers can we empower our customers to gain a winning edge and fully capture the opportunities offered by a new global economy.

A New Innovation Frontier

LYCRA Anti-Slip fiber is an exceptional denim seam slippage solution for applications in single core spandex fabrics that require durable stretch and good recovery power. Designed to help prevent seam slippage and improve garment quality and yield, this patent pending fiber helps maintain garment appearance wash after wash and wear after wear. It is a versatile fiber that makes possible for a multitude of fabric developments and constructions, including open structures and use of polyester/viscose blends, and cotton blends achieving a soft touch and authentic appearance.

By using LYCRA Anti-Slip fiber in the core of LYCRA dualFX technology yarn, the anti-slippage performance will be further enhanced. It is based on several patented technologies from The LYCRA Company related to both dual core and bi-component yarns. By combining LYCRA Anti-Slip fiber and LYCRA T400 fiber together in one fabric, the key benefit is the high stretch of LYCRA fiber with exceptional slippage solution plus the excellent recovery power of LYCRA T400 fiber. This means that consumers can have super stretch jeans that last longer and keep its fit and shape. Consumers will look good all day, every day.

The Power of The Science of Fit„¢

LYCRA FitSense„¢ technology is a patented, water-based dispersion that features the same molecules as LYCRA fiber, but in liquid form. This revolutionary innovation is screen printed onto fabric containing LYCRA fiber to provide lightweight, targeted support across a range of garment types. This solution also helps streamline garment manufacturing through the potential elimination of double-layers and extra seams and offers unlimited design possibilities for brands and retailers.

LYCRA MyFit„¢ fiber is a patent-pending, fiber technology engineered with a polymer designed to deliver improved comfort and fit. The result is greater shape tolerance and a customized fit experience for a differing range of body shapes. Ultimately, it gives brands and retailers the potential to higher customer satisfaction, minimize returns, reduce SKUs and costs by undercutting patterns.

LYCRA FitSense„¢ technology and LYCRA MyFit„¢ fiber have been well received by both international and domestic brands since their launch to the market. The two innovations now find wide applications in various apparel categories from underwear and activewear to seamless garments as well as swimwear.

Anti-Odor Fiber for 24/7 Freshness

COOLMAX freshFXtechnology actively suppresses the growth of bacteria which are the root cause of body odor and related smells and therefore is perfectly adapted for applications such as sportswear and underwear to offer freshness. The active ingredient in COOLMAX freshFX qualifying fibers is a durable, non-migratory silver-based antimicrobial additive. The active ingredient is spun directly into the yarn, rather than being topically applied, and an inorganic cage matrix protects it. Therefore, it can be expected to remain effective for the life of the garment even after repeated laundering.

The Legwear Stars

LYCRA FUSION„¢ technology helps make hosiery resistant to runs, which can improve the wear life of the garment. LYCRA SOFT COMFORT technology imparts a soft and comfortable stretch to sock tops and knee-high tops. The technology is based on soft-stretch LYCRA fibers that combine high elongation with low hysteresis. This makes garments easy to don but with a firm and secure fit.

The beginning of 2020 may have taken us by surprise, yet I am excited to see the speedy recovery across Asia-Pacific, particularly in China, said Jack Yang, R&D Director, The LYCRA Company. Technology and innovation are now the oxygen of every business. With our legacy and profound understanding of the apparel and textile industry, we are excited to work with our partners in China to bring more consumer-centric innovation to the world.

To bring to life The LYCRA Companys newest innovations at Intertextile, the technologies will be introduced via multimedia channels such as LED videos and augmented reality technology. Sample fabrics and garments experience will be available at the booth for further engagement. There is also a bottle calculator for visitors to understand how many plastic bottles are being put into use again in a garment by providing fabric weight and EcoMade fiber content. To learn more about the latest developments of The LYCRA Company, visit Intertextile booth H4.1-E56.

In addition to the physical booth, The LYCRA Company also offers a virtual tour and daily highlights on connect.lycra.com/intertextile2020. Check out the site to learn more about our technologies and to hear our customers stories.

For show information, visit Intertextile.com.

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries, as well as specialty chemicals used in the spandex and polyurethane value chains. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its innovative products, technical expertise, and unmatched marketing support. The LYCRA Company owns leading consumer and trade brands: LYCRA, LYCRA HyFit, LYCRA T400, L by LYCRA, COOLMAX, THERMOLITE, ELASPAN, SUPPLEX and TACTEL. While The LYCRA Companys name is new, its legacy stretches back to 1958 with the invention of the original spandex yarn, LYCRA fiber. Today, The LYCRA Company is focused on adding value to its customers products by developing unique innovations designed to meet the consumers need for comfort and lasting performance. For more information, visit www.thelycracompany.com.

LYCRA FitSense„¢, LYCRA MyFit„¢, LYCRA dualFX and COOLMAX freshFX are all trademarks of The LYCRA Company.

Kristin Altimari

[email protected]

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Catalyst Regeneration Market 2020 – 2024: Post-Pandemic Industry Planning Structure | Technavio

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The catalyst regeneration market is expected to grow by USD 1.18 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the catalyst regeneration market in optimistic, probable, and pessimistic forecast scenarios.

The catalyst regeneration market will witness neutral and at par impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavios pandemic-focused market research, market growth is likely to Increase as compared to 2019.

Enterprises will go through Respond, Recover and Renew phases. Download free report sample

As the COVID-19 pandemic continues to spread, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.
  • Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
  • Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure. Click here

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

Gain instant access to 17,000+ market research reports by using

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Major Three Catalyst Regeneration Market Participants:

Nippon Ketjen Co. Ltd.

Nippon Ketjen Co. Ltd. operates its business under products & services segments. The company offers a wide range of catalyst regeneration products and services such as hydroprocessing catalysts, off-site regeneration/rejuvination service, collaborative work. The products include guard grades, hydrotreatment of naphtha, kerosene, and diesel, hydrotreatment of VGO, and hydrotreatment of residue.

Porocel

Porocel operates its business under products and catalyst services segments. The company offers a wide range of catalyst regeneration products and services such as activated alumina, catalyst substrates and powders, activated bauxite, rejuvenation catalyst services, presulfurization, FCC catalyst services, and others.

STEAG GmbH

STEAG GmbH has business operations under services segments. The company offers a wide range of catalyst regeneration services such as NOx emission control, combustion optimization, SO emissions, mercury emissions, and others.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ catalyst regeneration market-industry-analysis

Catalyst Regeneration Market 2020-2024: Segmentation

Catalyst Regeneration is segmented as below:

  • Type
    • Off-site
    • On-site
  • Geography
    • North America
    • Europe
    • APAC
    • MEA
    • South America

The catalyst regeneration market is driven by the increasing practice of catalyst shifting. In addition, other factors such as the adoption of process optimization by refineries to reduce costs are expected to trigger catalyst regeneration market toward witnessing a CAGR of over 4% during the forecast period.

Get more insights about the global trends impacting the future of catalyst regeneration market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45153

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

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Visible Supply Chain Management Executive Emma Leonard Named 2020 Women in Supply Chain Award Winner by Supply & Demand Chain Executive

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Acknowledging her accomplishments, leadership and best-practice example for women leaders in supply chain, Emma Leonard, executive vice president at Visible Supply Chain Management (Visible), has been recognized as a 2020 Women in Supply Chain award winner by Supply & Demand Chain Executive.

The Women in Supply Chain award honors female supply chain leaders and executives whose accomplishments, mentorship and examples set a foundation for women in all levels of a companys supply chain network.

Emmas efforts have played a major role in Visibles ability to provide a ‘best in class’ customer experience and has added tremendous value to our clients, said Casey Adams, president of Visible. She has exhibited strong leadership abilities by building and managing a cross-functional team of transportation professionals, analysts and managers. This award is well deserved.

In an industry in which female executives are relatively uncommon, the excellence Emma displays each day is an unassailable argument for the increased need for women leadership in supply chain. She is a shining example for all mentoring her peers by organizing and facilitating local networking events. In addition, Emma is actively involved in AWESOME (Achieving Womens Excellence in Supply Chain Operations, Management and Education).

Because of women like Emma, 17% of chief supply chain officers are now women a 6% increase compared to 2019, according to Gartners 2020 Women in Supply Chain Survey.

Supply & Demand Chain Executive celebrates its 20th anniversary by introducing the new award designed specifically for women leaders in the supply chain industry.

We received over 200 entries for the new Women in Supply Chain award, entries that were submitted from a combination of men and women. This proves that our industry needed an award like this, said Marina Mayer, editor-in-chief of Supply & Demand Chain Executive and Food Logistics. Congratulations to these top female leaders. I look forward to seeing how they grow the supply chain industry.

Check out Supply & Demand Chain Executives website at www.sdcexec.com for the full list of the 2020 Women in Supply Chain winners. The 2020 Women in Supply Chain award will appear in SDCEs September issue.

About Visible Supply Chain Management (Visible)

Since 1992, Visible Supply Chain Management has provided customized solutions for B2B and B2C organizations. With comprehensive services in e-commerce, direct sales, direct response and omnichannel, Visible can design effective strategies for clients that include transportation, logistics, brokerage, fulfillment and even custom packaging solutions.

About Supply & Demand Chain Executive

Supply & Demand Chain Executive is the executive’s user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage. Go to www.SDCExec.com.

Shannon Michael, SnappConner PR

801.205.6714

[email protected]

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