Business News Archive - August 06, 2009

FRANKFURT, August 6 /PRNewswire/ -- The economic and financial crisis also left its mark on Fraport AG in the first six months of the current year. Group-wide passenger traffic in the first half of 2009 dropped 5.8 percent year-on-year, while the Frankfurt Airport (FRA) home base registered 8 percent fewer passengers.

BASEL, Switzerland, Aug. 6 /PRNewswire-FirstCall/ -- Syngenta announced today the signing of an agreement to acquire from Monsanto its global hybrid sunflower seeds activities for a consideration of $160 million, on a cash and debt-free basis.

PARIS, August 6 /PRNewswire-FirstCall/ -- - Saft Will Receive $95.5m Grant From US Department of Energy Subject to Successful Contract Negotiation Saft, world leader in the design, development and manufacture of high-end batteries for industry and defence, announces that it has been selected to receive a grant under the American Recovery and Reinvestment Act.

PARIS, August 6 /PRNewswire-FirstCall/ -- Johnson Controls-Saft has been awarded a $299 million grant by the United States Department of Energy under the American Recovery and Reinvestment Act (ARRA) to build domestic manufacturing capacity for advanced batteries for hybrid and electric vehicles. The facility will be built in Holland, Michigan and will serve the Company's strategic global customers, in particular the series production contracts it has won with Ford, for its first plug-in hybrid vehicle for 2012, and Azure Dynamics. Subject to successful negotiation of this contract, Johnson Controls-Saft will also receive a combination of tax credits and incentives from the State of Michigan totalling $148.5m. "I am very happy that Johnson Controls-Saft was selected for this grant" said John Searle, Chairman of the Management Board for Saft, "We see increasing opportunities for our lithium-ion technology in the United States as the clean vehicle market develops." Jo

LONDON, August 6 /PRNewswire-FirstCall/ -- BBA Aviation, the leading provider of flight support and aftermarket services and systems to the aviation industry, said while revenues in the first half were down 13 per cent, operating profits only fell 2 per cent on a like-for-like basis, to GBP50.6m, thanks to the "difficult" measures it had taken to mitigate against the downturn. "One of the reasons that we have been so resilient through this first half is all our businesses demonstrate a low level of operational gearing and this means we can flex our cost base to meet the environment that we face," Simon Pryce, Chief Executive, said in a video interview with Cantos. "What I am really pleased to see, though, is the continued focus that we have on generating free cash flow, where we reduced our debts by over GBP100m in the first half of 2009 and we generated in excess of almost three times the free cash flow that we generated in 2008, and there is more of that to come." The

AMSTERDAM, August 6 /PRNewswire/ -- Mobileye N.V., a global pioneer and leader in vision-based driver assistance and collision avoidance systems, announced today the expansion of its aftermarket product line with the introduction of the new Mobileye C2-170.

MUMBAI, India, August 6 /PRNewswire/ -- Rapidly rising consumption of petroleum oil and gases, together with liquid chemicals, is driving the market for transportation of liquid and gaseous cargo in India.

LONDON, Aug. 6 /PRNewswire/ -- Readiness and platform availability play fundamental roles in current military operations, particularly in Afghanistan and Iraq. Providing the warfighter with the right equipment at the right time has become essential in modern warfare.

Word of the Day
  • Large; stout; burly.
The word 'bowerly' is an alteration of 'burly'.