Business News Archive - May 17, 2010

Net Profit Doubled Compared to the Same Quarter in 2009 - Record Also in Q1 Operating Profit - Sales in the First Quarter Increased by 15.3% and Reached US$ 113.5 M - Gross Profit Increased by 23.4% and Reached US$ 43.5 M - Operating Profit Increased by 61.9% and Reached US$ 16.6 M and Operating Margin Increased and Reached 14.6% - EBITDA Increased by 47.3% and Reached US$ 21.3 M and EBITDA Margin Improved and Reached 18.8% - Profit Before tax Increased by 121.1% and Reached US$ 15.3 M - Profit per Share Doubled and Reached US$ 0.19 Frutarom (LSE: FRUT, TASE: FRUT, OTC: FRUTF, Reuters: FRUTF.PK) today presented its first quarter 2010 results. Frutarom, one of the ten largest companies in the world in the field of flavors and specialty fine ingredients continues to successfully implement its rapid and profitable growth strategy, combining organic growth and the implementation of strategic acquisitions. Frutarom's revenues in Q1

PALMA DE MALLORCA, Spain, May 17 /PRNewswire-FirstCall/ -- The Boards of Directors of Indocan Resources, Inc. (OTC: IDCN) and Mid-Atlantic Capital Ltd. announce that they have committed to a $12 million minimum initial capital infusion to eight mine sites in South Africa.

TORONTO, May 17, 2010 /PRNewswire-FirstCall/ -- Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) today announced results for six holes drilled in the 2010 Drilling Program on the Nokomis Deposit, Ely Minnesota. All holes intersected significant intersections with MEX-167 returning 125 feet of 1.037% copper, 0.311% nickel, 3.6 g/t silver and 1.501 grams per tonne (g/t) Total Precious Metals (TPM (equal sign) Platinum+Palladium+Gold) (Cu Equivalent(x) of 2.586%) including a 55 foot section of 1.273% copper, 0.401% nickel, 4.6 g/t silver and 2.140 g/t TPM (Cu Equivalent(x) of 3.362%). Drill hole MEX-167 is located within the Central Area Higher Grade Zone which was highlighted in the most recent NI 43-101 Resource Estimate dated December 2009.

IRVINE, Calif., May 17 /PRNewswire/ -- CDMdata, a Kelley Blue Book company, today announces its all-new Pre-Owned Classifieds Package for dealers on kbb.com's The Trusted Marketplace(SM), Kelley Blue Book's online classifieds section.

LONDON, May 17 /PRNewswire/ -- The new coalition government in the UK has outlined its collective plans for a low carbon economy.

HONG KONG, May 17 /PRNewswire-Asia/ -- CNOOC Limited ("the Company" or "CNOOC Ltd," NYSE: CEO; SEHK: 883) is pleased to announce today that, the Company, via its wholly owned subsidiary -- CNOOC International Limited, together with Turkish Petroleum Corporation (TPAO), have signed a technical service contract ("TSC") for the development and production of the Missan Oil Fields within Iraq. (Logo: http://www.prnasia.com/xprn/sa/200701301659.jpg ) The Missan Oil Fields are located in the southeast of Iraq, about 350 kilometers southeast of Baghdad. The TSC has a contract term of 20 years and the Company has undertaken to increase the daily production of the Missan Oil Fields to 450,000 barrels within six years. The Company will earn US$ 2.3 per barrel on the incremental oil production once the daily production has been raised by 10 percent from its current level and will recover its expenditure through a cost recovery mechanism. According to the TSC, the Company a

ST. LOUIS, MO, May 17 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will celebrate the Grand Opening of its new St.

GONGYI, China, May 17 /PRNewswire-Asia-FirstCall/ -- China GengSheng Minerals, Inc.

New flights fortify airline's position as the leading transborder carrier MONTREAL, May 17 /PRNewswire-FirstCall/ - Air Canada today launched new twice-daily, year-round service to four American cities, further fortifying its Toronto hub and strengthening its position as the leading transborder carrier with the most daily flights between Canada and the U.S.

JACKSON, Mich., May 17 /PRNewswire/ -- Aware that many in Michigan are struggling, Consumers Energy announced today that it will more than triple its support for basic needs programs in the state, increasing grants from $150,000 to $500,000 this year.

Word of the Day
  • A serpent whose bite was fabled to produce intense thirst.
The word 'dipsas' comes from a Greek word meaning 'thirst'.