Industrial Pipeline Developers like Thompson just want to make more money on theirgambles in industrial real estate, he charges. "This is all aboutinstantaneous gratification." The City Council could take up the Interbay NeighborhoodAssociation's proposal this fall. North Interbay is a triangular sliver of the city, boundedgenerally by West Dravus Street, the BNSF railroad yards and busy15th Avenue West. It's a jumble of vacant lots, storage yards and mostly olderfactories and warehouses. Most who work in the area or live nearby agree it's rundown. "It's dead here. Just dead," says Chuck Read, whose companymanufactures custom cutting boards. About one-third of the area, mostly along Dravus and 15th, is zonedfor commercial uses. The Interbay Neighborhood Association is pushing for big changeshere, too — a rezone to allow condo or apartment towers up to125 feet tall. The city's Department of Planning and Development last monthproposed towers not top 85 feet. Planners said taller buildingswould be incompatible with nearby industry. North Interbay's industrially zoned blocks hold businesses thatmanufacture doors and cabinets and musical instruments. There's a steel-products warehouse, a marine-equipment supplyoperation and several machine shops. Other businesses don't really qualify as industrial: adog-obedience school, a fitness club, a company that rents partytents and canopies, another that markets sex toys. The Interbay Neighborhood Association cited that mix in itspetition to trim the area from BINMIC. The neighborhood already lacks the intensity of "hard-core"industrial uses that should define a manufacturing/industrialcenter, proponents argue; deleting it would just reflect reality. The city's restrictions on nonindustrial uses "lump me in with100-acre tracts in South Seattle that are pouring steel," saysRead. "Every area has different needs and different requirements." Thompson, Nitty Gritty's developer, contends mixed-use projectslike his would create "a more upgraded environment for industrialuses and a more respectful environment for customers." But just 12 percent of the land in Seattle is zoned industrial. AndAakervik, of the BINMIC Action Committee, says North Interbayoffers the access to rail and water that industry needs, and thatfew other areas offer. Industrial development in the area has been stymied, he says,because property owners aren't satisfied with its potential returnsand are speculating that zoning changes will make them richer. Dave Gering, executive director of the Manufacturing IndustrialCouncil of Seattle, says a project like the Nitty Gritty wouldcause him more heartburn if it were proposed in a heavy-industrystronghold like Georgetown or SoDo, rather than North Interbay. Gering's organization supported the limits on nonindustrial usesthe City Council approved last December.
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Metal Fabricator requests rRoad closing for growth
Metal Fabricator The company fabricates metal for power plant ducts, structuralsteel, conveyors, hoppers and stainless steel scrubbers for coalplants, Mr. Parker said. The company also manufactures powertransmission lines for the Tennessee Valley Authority, he said.Another large customer is Georgia Power. Mr. Parker said he started his business in 1995 with a building andan acre of land. He expanded twice, and bought five acres adjoiningthe site two years ago, and then bought another tract on BrownStreet. The road closure also would benefit his company and a neighboringbusiness by preventing theft, Mr. Parker said. Both companiesfrequently have break-ins, he said. "I'll sit out here at night and they'll circle the block lookingfor something to steal," Mr. Parker said. The commission approved a request by former planningcommissioner Mike Price to grant a road-width variance at the ElderCove subdivision in Tiftonia. The request was not on the Mondayagenda. Mr. Price, owner of MAP Engineers, said he had filed thevariance with the planning agency, but the case was not scheduledto be heard until the July meeting. The Elder Cove developers are installing roadside drainage in thesubdivision and needed to reduce the road's width. The projectwould have been held up if the developers had had to wait until theJuly planning commission meeting, Mr. Price said. Planning agency director Barry Bennett said after the meeting thatwhile granting a request that's not on the agenda is unusual, itcan be done under extreme circumstances.
India copper eases on rising LME
lme copper Indian copper futures gave up early gains and eased on Tuesday after rising inventories dampened sentiment, analysts said. At 4.50 p.m., the benchmark June copper MCCM8 on the Multi Commodity Exchange of India (MCX) was down 0.39 percent at 344.25 rupees per kg. Copper inventories on the London Metal Exchange were up 1,500 tonnes to 123,550 tonnes on Tuesday. "Rising inventories pushed down copper after it gained in the morning but it should rise again because the outlook continues to be strong," said an analyst from Motilal Oswal Commodities Broker Pvt Ltd. Prices found support earlier after China reported a 25.6 percent surge in urban investment in the first five months of the year which indicated a positive demand outlook for metals. Copper prices also found support from falling Chinese imports. China is importing less copper, despite domestic demand, and expectations are that the local shortage will push traders to buy the metal over, supporting prices China's imports of unwrought copper fell 25 percent in May from April. Prices also rose on fresh supply concerns from Peru, where protestors blocked a mine belonging to Southern Copper (PCU.N: Quote, Profile, Research) (SPC.LM: Quote, Profile, Research), the country's largest copper producer [nN16263028].
Control4 introduces standards-based IP entertainment
lighting wire Control4 Corporation, a leader in affordable IP-based controland entertainment systems, today announced the release of Control4 ? Suite Systems, a customized version of the company ’ s popular home automation and entertainment control technology forthe hospitality market. The Control4 Suite Systems provides aplatform of innovative convenience and automation for the in-roomenvironment by enabling hotel guests to control lighting, roomtemperature, television/video systems, music, draperies andrequests for services through a single Control4 ? remote. "We' ve worked closely with the industry to develop a fully customizedroom automation platform that is incredibly easy to use, installand maintain, ” said Will West, Chief Executive Officer at Control4. “ The Control4 Suite Systems truly transforms the guest experience byproviding completely new functionality that significantly enhancesthe customer ’ s stay and provides differentiation for the destination. Thehospitality market represents a huge market opportunity forControl4 ? technology and we look forward to applying our expertise forcontinued innovation. ” Control4 Suite Systems provides the hospitality industry apractical, reliable automation operating system that is affordable.For new property construction, operators will see significantsavings in construction costs because the Control4 Suite Systems ’ wireless features eliminate virtually all in-room, low-voltagewiring, and require less conduit, labor and materials for controland lighting systems than traditional wire-based systems. The Control4 hospitality solution also offers a non-obtrusive andeasy way to save money by managing precious resources such asenergy, water, money and time. Control4 Suite Systems can beprogrammed to automatically put a room into unoccupied status uponcheckout — turning down or off the heating/cooling system, televisions,lights and any appliances. According to Green Lodging News,lighting accounts for up to 35 percent of a hotel ’ s energy bill, while up to 50-70 percent of a hotel ’ s energy bill is attributed to heating and cooling. "The Mandarin is renowned for offering personalized comfort andconvenience for our hotel guests, ” said David Heckaman, VP Technology, Mandarin Resorts. “ Control4 Suite Systems provides a technology platform that takesthat personalized experience to an entirely new level. Bothcorporate and leisure guests will delight in this highlysophisticated, yet easy-to-use service that makes the roomenvironment more relaxing and enjoyable. ” Control4 Suite Systems is also easy to install. Wired and wirelesssolutions are available for installation in both new constructionand most retrofits of properties meeting LEED certificationbuilding standards. To facilitate interoperability and integration between partnerproducts and Control4 ’ s digital home platform, Control4 is licensing its operating systemthrough the C4iQ ? certified partner program. C4iQ ? approved technology enables companies to embed the Control4operating system into a range of products, such as televisions,routers, receivers, etc.
Magnetic sensor ignores large local fields
Small Magnet Researchers at the Fraunhofer Institute have developed a novelmagnetic sensor that they claim for the first time detects tinyfluctuations in a small magnetic field – even when there is astrong magnet right beside it. The sensor can therefore be utilised even in places where powercables generate an interference field – for instance, in acar’s side mirror. In the car mirror application, if there is a change of driver it isnormally required to adjust the position of the mirror and theseat. To provide automatic adjustment for each driver, a tiny chip in thekey or a corresponding button on the dashboard can be pressed,enabling all adjustment to be performed very easily. There is a tiny magnet in the mirror and another in the seat, whoseposition is detected by a magnetic sensor and which enables themirror to be correctly adjusted. The only problem with this systemis that the cables supplying the power for heating the mirror andcontrolling the stepper motor also generate a magnetic field. The sensor therefore sees not only the field generated by themagnet, but also that of the power cable – and errors can bemade. Up to now, therefore, such magnetic field sensors have had tobe screened. This is difficult and expensive. A new type of integrated 3-D magnetic field sensor from theFraunhofer Institute for Integrated Circuits (IIS) in Erlangen,Germany, can work without screening. The researchers have arrangedseveral sensors in a pixel cell in such a way that they can measureall three components of the magnetic field in one place. If two ofthese pixel cells are placed on a chip, the sensor measures notonly the magnetic field as such, but also how the position of themagnetic field changes. IIS team leader Dr Hans-Peter Hohe states:“This sensor enables us for the first time to identifymagnetic interference fields as such and to separate them from theuseful field. The sensor works perfectly even when the interferencefield is considerably larger than the useful field. There istherefore no need for shielding.”
CRM's CDC Software,Schneider Electric says upgrade
Hardware Supply CRM vendor CDC Software, a wholly owned subsidiary of China’s CDC Corporation, has announced that Schneider Electric (News - Alert) has gone live with its upgrade to cWMS Release 10, a warehouse management system part of the CDC Supply Chain suite. With more than 2,000 employees and revenue in excess of the equivalent of $977 million, Schneider sells electrical distribution and automation control products and services in the country and has rapidly expanded its logistics operations over the past 10 years. Since first implementing an earlier version of CDC Software’s (News - Alert) “cWMS” 10 years ago, Schneider consolidated two of its warehouse sites, while at the same time expanding capacity to 50 tons of throughput per day, covering 14,000 product lines, resulting in cost savings and higher productivity. Andrew Holdroyd, logistics projects manager, said the company “needed to upgrade our warehouse functionality and systems to support our growing business volume and new distribution service in a multi-brand environment.” Michael Shrimplin, logistics development analyst for Schneider, said while the initial go-live “covered an ‘as-is’ upgrade, the latest version of cWMS will allow us to implement additional functionality… these include capabilities such as cartonisation, which will help improve item scanning, picking accuracy and overall quality control.” CRM vendor CDC Software, a wholly owned subsidiary of IT company CDC Corporation, has announced three multi-million dollar contracts recently.
Reliance Steel purchases PNAGroup for $1.1bln
Platinum Bar Reliance Steel & Aluminum Co. said Tuesday it agreed to buy PNAGroup Holding Corp., a steel service center group owned by PlatinumEquity, for about $1.1 billion. Shares of Reliance rose $6.82, or 4.7 percent, to $74.43 shortlyafter the opening bell. The deal is expected to close within 60 days, pending regulatoryapprovals. Los Angeles-based Reliance Steel expects to finance the dealthrough its existing credit facility and by raising about $750million by issuing new debt and equity securities. Reliance, which processes and sells products to aerospace, energyand construction companies, said it expects the deal to immediatelyboost earnings. Through its subsidiaries, PNA Group processes and distributesprimarily carbon steel plate, bar, structural and flat-rolledproducts. PNA subsidiaries include Delta Steel LP, Feralloy Corp.,Infra-Metals Co., Metals Supply Company Ltd., PrecisionFlamecutting and Steel LP and Sugar Steel Corp. PNA had 2007 sales of about $1.6 billion. Reliance reported saleslast year of about $7.26 billion. PNA has 23 steel service centers in the United States, five jointventures and seven service centers in the U.S. and Mexico. Reliancehas about 180 locations in the U.S. and about 37 across Belgium,Canada, China, South Korea and the United Kingdom. Copyright 2008 Associated Press. All rights reserved. This materialmay not be published broadcast, rewritten, or redistributed
Reliance Steel&Aluminum Co. signs deal to acquire PNAGroup
including aluminum Reliance Steel & Aluminum Co. (NYSE:RS) announced today thatit has reached an agreement to acquire the outstanding capitalstock of PNA Group Holding Corporation, a national steel servicecenter group owned by Platinum Equity. The transaction is valued atapproximately $1.1 billion. PNA ’ s subsidiaries include the operating entities Delta Steel, LP,Feralloy Corporation, Infra-Metals Co., Metals Supply Company,Ltd., Precision Flamecutting and Steel, LP and Sugar SteelCorporation. Through its subsidiaries, PNA processes anddistributes primarily carbon steel plate, bar, structural andflat-rolled products. 2007 and first quarter 2008 revenues for PNAwere about $1.6 billion and $474 million, respectively. PNA has 23steel service centers throughout the United States, as well as fivejoint ventures that operate a total of seven service centers in theUnited States and Mexico. The transaction is expected to be consummated within the next 60days, subject to the satisfaction of certain conditions, includingobtaining required regulatory approvals. Reliance expects tofinance the transaction, including the replacement of PNA ’ s existing debt, through a combination of borrowings under Reliance ’ s existing credit facility and by raising approximately $750million through the issuance of a combination of new debt andequity securities. “ The PNA operations complement our existing business and add newproducts in many geographic areas that further enhance thecustomer, product and geographic diversification of our business.Through the PNA joint ventures, we also gain entry into a newmarket for us in Mexico, ” said David H. Hannah, Chairman and Chief Executive Officer. Inregard to the financing, Hannah stated, “ We expect that this transaction, including the impact of theexpected financing, will be immediately accretive to our earnings,with the dilution from any new shares issued offset by the earningsfrom PNA and savings from our lower cost of capital. Additionally,we expect our balance sheet and liquidity to remain strong. ” Reliance Steel & Aluminum Co., headquartered in Los Angeles,California, is the largest metals service center company in theUnited States. Through a network of more than 180 locations in 37states and Belgium, Canada, China, South Korea and the UnitedKingdom, the Company provides value-added metals processingservices and distributes a full line of over 100,000 metalproducts. These products include galvanized, hot-rolled andcold-finished steel; stainless steel; aluminum; brass; copper;titanium and alloy steel sold to more than 125,000 customers invarious industries. Reliance Steel & Aluminum Co. ’ s press releases and additional information are available on theCompany ’ s web site at www.rsac.com . The Company was named to the 2007 “ Fortune 500 ” List and the Fortune 2007 “ 100 Fastest Growing Companies ” List and the Fortune 2008 List of “ America ’ s Most Admired Companies ” and the 2008 Forbes “ Platinum 400 List of America ’ s Best Big Companies. ” This release may contain forward-looking statements relating tofuture financial results and the proposed acquisition and relatedfinancing of PNA. Actual results and events may differ materiallyas a result of many factors over which Reliance Steel &Aluminum Co. has no control. These risk factors and additionalinformation are included in the Company ’ s Annual Report on Form 10-K for the year ended December 31, 2007and other reports Reliance Steel & Aluminum Co. has on filewith the Securities and Exchange Commission.
Paper industry to discuss recycling issue in Chicago
Makro sells office supply business
The end of paper airline tickets in China
Staples buy Dutch stationers for $2.7bn
Vista, Vivo & Venue add vibrancy to Boltaflex contract uphol...
Chemtura to raise pricing for flame retardants
New organic food supplier proves an instant success
Wild launches new Fruit Up with a confectionery spin
Turkish Delights Living, eating in San Francisco infuses Ist...
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Tracking the fashion and apparel market
Apparel makes up bulk of spending on kids – research
Apparel makes up the bulk of a mother's discretionary spending on her kids, a new report has revealed, with the age of the child influencing how much is spent.
According to the 'Kids' Share of Wallet' report from market research company The NPD Group, apparel accounts for 23% of discretionary spend.
And contrary to popular belief, it is not the household income that's the main driver of spending, but the age of the child.
Mothers who only have kids older than five years of age spend around 35% more than those with younger kids, while mothers of girls also spend more on apparel.
"Monitoring how and where parents spend money on behalf of their kids is critical information for anyone involved in the youth market," said Anita Frazier, industry analyst, The NPD Group.
"There are a lot of product categories competing for a fixed amount of discretionary spending, and understanding the factors that drive purchases has profound implications for product development, marketing, promotions, and licensing for all youth-oriented products and services."
Six out of 10 mums (59%) report their kids have a strong influence on the purchases they make for them.
Surprisingly, the category least impacted by kids' influence is apparel. Brand name influences footwear decisions, but is not a major factor for the other categories.
One factor that is important to purchasing decisions across all categories is the style and look of a product. Even at young ages, kids want products with appealing styles and designs.
Almost half of every discretionary dollar (48%) goes into entertainment related categories such as toys, books and music, the report found, while 12% goes on food and beverages.
Indian Cotton Continues to Enjoy an Excellent Reputation in...
European Apparel and Footwear Brands Have Been Planning to S...
A number of European apparel and footwear brands have been planning to set foothold in Bulgaria, as it is emerging as one of the fastest growing markets. One such Dutch apparel accessory chain C&A, will open its first store in the country early next year.
C&A is among foremost European labels with a network of more than 1200 stores. Under the roof of the company, there are 10 exclusive brands such as Clockhouse, Westbury and Your Sixth Sense. The retail chain is spread across nations like Austria, the Czech Republic, Hungary, Poland, Russia, Slovakia, and Turkey.
Another prominent German footwear brand Deichmann, is also aspiring to make huge profits by penetrating into Bulgarian market by 2009. The leading retailer at present has is almost 2200 stores in more than 16 countries.
Both these European fashion and footwear companies are expecting Bulgarian customers to respond positively towards the global brands and make them popular.
Textile and Garment Sector of Laos Enlarge Exports to EU 200...
In an exclusive interview with Fibre2fashion, Mr Noulack Phounmalay, Director of Administration of the Association of the Lao Garment Industry (ALGI) said, “The industry has plans to further increase its garment and textile exports by 10 percent this year to touch $167 million.”
Mr Noulack also affirmed that the country’s main markets are EU, Japan and Canada with whom it enjoys GSP preference while USA (with NTR) market is also increasing with every passing year.Besides, the European Union has also made an announcement giving Laos priorities in order to help the Southeast nation boost trade and economic development.
Presently, the association is also working in close cooperation with other countries like Cambodia and China, who monopolize a major chunk of garment and textile markets in Europe.
This strategy will indirectly help Laos to reinforce its exports to EU countries. There are about 57 garment and textile enterprises in the country and the Government is optimistic about attracting a substantial amount of foreign direct investment into this sector giving it a major boost.
Liz Claiborne Will Provide Meaningful Benefit to Shares of E...
NEW YORK (AP) -- A licensing deal with clothing company Liz Claiborne will provide meaningful benefit to shares of Elizabeth Arden, an analyst said Thursday as he upgraded the stock.
Wachovia Capital Markets analyst Jason Gere lifted his rating on Elizabeth Arden Inc. to "Outperform" from "Market Perform" and set a valuation range of $18 to $20.
Late Wednesday, Elizabeth Arden said it will make and distribute Liz Claiborne fragrances including Juicy Couture, Usher and Lucky Brand. The deal gives the Miramar, Fla., beauty care company better market share and generates more sales, while Liz Claiborne Inc. of New York said it will be able to develop fragrances more efficiently.
Financial details of the 10-year agreement weren't disclosed, but Gere estimated the deal could result in $175 million in incremental annual sales for Elizabeth Arden. In addition, he expects the deal to boost margins, since licensed brands generate better margins than distributed brands.
Earnings per share could get a lift of at least 50 cents, excluding charges, Gere estimated.
Given the lack of details, however, there is some risk to the stock, according to the analyst. He also noted that the broader economic slowdown is squeezing sales at department stores.
"We still believe it may take a few more quarters before better sales trends come through at Elizabeth Arden, but with Liz Claiborne as a licensed brand in the portfolio, in the interim, the Street likely will offer Elizabeth Arden a better stock price," Gere wrote in a note.
The stock advanced $2.40, or 18 percent, to $15.78. Shares are down about 30 percent in the year to date and about 40 percent in the past 52 weeks.
