Appointments, Awards, Joint Ventures, Acquisitions, and Credit Facility Renewals - Analyst Notes on Harsco, Arch Coal, Seacor, Tesco and Penn West
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NEW YORK, May 12, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Harsco Corporation (NYSE: HSC), Arch Coal Inc. (NYSE: ACI), Seacor Holdings Inc. (NYSE: CKH), Tesco Corporation (NASDAQ: TESO) and Penn West Petroleum Ltd. (NYSE: PWE). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2292-100free.
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Harsco Corporation Analyst Notes
On May 6, 2014, Harsco Corporation (Harsco) announced that Michael H. Kolinsky, Vice President of Tax and Risk Management within the Company, will also assume the role of Corporate Treasurer, effective May 22, 2014. According to Harsco, Mr. Kolinsky will be responsible for the Company's capital market activities, global treasury operations, and bank and agency relationships. He will be replacing Robert G. Yocum, who will retire after three decades of service. "The alignment of these corporate functions is consistent with industry practice and our commitments to a lean and active corporate center," said Harsco President and Chief Operating Officer, Nick Grasberger. The full analyst notes on Harsco are available to download free of charge at:
http://www.analystsreview.com/2292-HSC-12May2014.pdf
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Arch Coal Inc. Analyst Notes
On May 7, 2014, Arch Coal Inc. (Arch Coal) announced the names of 10 outstanding teachers of Wyoming who are the recipients of the prestigious Arch Coal Teacher Achievement Award. The Company informed that the award is the state's longest-running, privately sponsored teacher recognition program, which is now on its 14th year. Robert Clark Hill, Deyonne Michelle Jackson, Chad Lemley, Christopher Lubken, Michael Mahoney, Jennifer Marie Mellizo, Peggy Lynn Miller, Lisa Lorraine Pingrey, Teresa J. Strube, and Wayne Thomas Tuttle were honoured at a ceremony held at Campbell County High School in Gillette. Each teacher received a $3,500 unrestricted cash award, a distinctive trophy and a classroom plaque, in addition to the esteemed recognition. The full analyst notes on Arch Coal are available to download free of charge at:
http://www.analystsreview.com/2292-ACI-12May2014.pdf
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Seacor Holdings Inc. Analyst Notes
On May 5, 2014, Seacor Holdings Inc. (Seacor) announced that it has entered into a joint venture with private equity firm Avista Capital Partners, which specializes in investments mainly in growth oriented energy, healthcare, communications and media, industrial and consumer companies. According to Seacor, Avista invested approximately $150.0 million in cash for a non-controlling ownership interest in the Company's subsidiaries that operate a fleet of five owned and two leased-in U.S.-flag Jones Act vessels used for U.S. coastwise trade of petroleum, crude oil, and specialty chemical products, as well as a contract with the National Steel and Shipbuilding Company for construction of three 50,000 DWT (deadweight tonnage) product tankers which are expected to be delivered in May 2016, October 2016, and March 2017. The full analyst notes on Seacor are available to download free of charge at:
http://www.analystsreview.com/2292-CKH-12May2014.pdf
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Tesco Corporation Analyst Notes
On May 7, 2014, Tesco Corporation (Tesco) announced that its subsidiary, Tesco Corporation (US), has signed a definitive agreement with Tech Field Services Inc. (TFS). Tesco Corporation (US) acquired TFS' assets and will incorporate the TFS business into its United States After-Market Sales and Service operations, which according to the Company, enhances its ability to service and recertify Tesco and Non-Tesco top drive units, as well as other automated pipe handling equipment. The full analyst notes on Tesco are available to download free of charge at:
http://www.analystsreview.com/2292-TESO-12May2014.pdf
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Penn West Petroleum Ltd. Analyst Notes
On May 6, 2014, Penn West Petroleum Ltd. (Penn West) announced that it has closed the renewal of its unsecured, revolving bank facility. The Company decreased the borrowing capacity under the renewed facility to an aggregate of $1.7 billion (compared to an aggregate borrowing limit of $3.0 billion earlier), since Penn West's long-term plan announced in late 2013 requires less credit capacity. Penn West stated that facility consists of two tranches with different maturity dates, with first tranche maturing on May 6, 2019 and second tranche on June 30, 2016. Currently, the Company has a total of approximately $300 million drawn on the bank facility, which includes a syndicate of Canadian and international banks. The full analyst notes on Penn West are available to download free of charge at:
http://www.analystsreview.com/2292-PWE-12May2014.pdf
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