Kawasaki, Japan, Feb 10, 2010 - (ACN Newswire) - Fujitsu Laboratories Ltd. and the University of Toronto today announced their joint development of a new processing method for transceiver chips used in gigabit-class(1) high-speed data transmission over wirelines. The new technology employs digital circuitry to replace previously-required structures that used analog circuits. While analog processing require circuits that are adapted to the specifications of a signal being transmitted, such as transmission distance and amplitude, this new digital approach can perform these optimizations automatically, so that a single circuit could be used to accommodate a wide range of various wireline communications. Compared to conventional processing methods, this new digital-processing method makes it possible to shorten development periods by approximately half. It is anticipated that this new technology in the future could be applied to a variety of wireline communication applications, including 10 Gbps high-speed Ethernet in datacenters.
Details of this technology were presented at the IEEE International Solid-State Circuits Conference 2010 (ISSCC 2010) being held in San Francisco from February 7-11. (Presentation number: 8.7)
Background and Technological Challenges
File size data volumes for large photographic, audio, and video files are becoming increasingly larger, thus requiring a significant amount of bandwidth to transmit, leading to demand for ever-faster wireline data communications. Conventional transceiver chips rely on analog circuitry which needs to be optimized to accommodate specifications of the signal being transmitted - such as transmission distance and amplitude - and therefore require multiple transceiver chips to be designed in order to accommodate for various applications.
With a growing diversity of devices featuring high-speed data transmission, the need to optimize an existing technology for every new type of device or model has become a bottleneck in the development process. Efforts to develop transceiver chips within short development periods that can accommodate the wide range of different devices have been proven challenging.
Newly-developed Technology
Fujitsu Laboratories and the University of Toronto have developed a digital circuit-based transceiver chip. Featuring digital circuitry, the new transceiver chip can automatically optimize itself for a variety of high-speed communications circuits, thus significantly reducing development periods by approximately half compared with conventional methods.
This technology detects variations in the delay on the time axis of the input signal, caused during data transmission, and based on that can automatically adjust the timing it uses for judging whether an incoming signal is a 0 or 1 (Figure 1). Since variations in data transmissions increase along with faster transmission speeds, this new technology is essential for accurate data exchange. This is the world's first technology to achieve Gbps-class speeds without the use of analog circuitry elements, while offering fully-digital timing adjustments for signal-determination.
Results
As a world's first, by using digital circuitry-based high-speed transceiver technology, Fujitsu Laboratories and the University of Toronto's new technology makes it possible to reduce the design and development period for a gigabit-class transceiver chip by approximately one-half (1/2) compared with conventional methods. This suggests that transceiver chips for a wide range of communications devices could be offered in a timely manner.
Future Developments
Fujitsu Laboratories and the University of Toronto will continue with development of this technology to optimize the digital signal processing, to further reduce the transceiver's power consumption.
Glossary and Notes
1 Gigabit-class/Gigabits-per-second (Gbps):Gigabits-per-second (Gbps) expresses data rate and indicates how many gigabits can be transferred per second. 10 Gbps is 10 billion bits-per-second (10 billion bps) = 10,000 megabits-per-second (10,000 Mbps), and indicates that 10 billion bits of data can be transferred per second.
About University of Toronto
Established in 1827, the University of Toronto is Canada's largest university, recognized as a global leader in research and teaching. U of T's distinguished faculty, institutional record of groundbreaking scholarship and wealth of innovative academic opportunities continually attract outstanding students and academics from around the world. U of T is committed to providing a learning experience that benefits from both a scale almost unparalleled in North America and from the close-knit learning communities made possible through its college system and academic divisions. Located in and around Toronto, one of the world's most diverse regions, U of T's vibrant academic life is defined by a unique degree of cultural diversity in its learning community. The University is sustained environmentally by three green campuses, where renowned heritage buildings stand beside award-winning innovations in architectural design.
For more information: http://www.utoronto.ca/
About Fujitsu Ltd
Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 160,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please visit www.fujitsu.com.
Contact: Fujitsu Laboratories Ltd. Design Solutions Lab. Platform Technologies Lab. Tel: +81-44-754-2635 E-mail:hsio_adc_pr@ml.labs.fujitsu.com University of Toronto Prof. Ali Sheikholeslami Dept. of Electrical and Computer Engineering Tel: +1(416)978-1681 E-mail:ali@eecg.utoronto.ca Address: 10 King's College Road, Toronto, Ontario, M5S 3G4
Copyright 2010 ACN Newswire. All rights reserved.
Kawasaki, Japan, Feb 10, 2010 - (ACN Newswire) - Fujitsu Laboratories Limited and the University of Toronto today announced that they have jointly developed the world's first high-reliability read-method for use with spin-torque-transfer (STT) MRAM(1) that is insusceptible to erroneous writes. STT MRAM is regarded as a potential future form of non-volatile memory(2) that could be used as an alternative to flash memory. NOR flash memory that is embedded in microcontrollers widely used in mobile phones and other electronic devices is expected to reach the limits of its feasible miniaturization in the near future, which has led to the search for an alternative low-power non-volatile memory that will allow continued necessary miniaturization. By resolving one of the major obstacles to using STT MRAM, Fujitsu and the University of Toronto's new read-method marks a major step towards the practical implementation of STT MRAM as a necessary replacement for flash memory, in view of future requirements that will be necessary for compact and low-power electronic devices.
Details of this technology were presented at the IEEE International Solid-State Circuits Conference 2010 (ISSCC 2010) being held in San Francisco from February 7-11. (Presentation number: 14.1)
Background
Many electronic devices such as mobile phones or PDAs use microcontrollers with embedded flash memory, which allows onboard software to be rewritten. However, NOR flash memory used in such microcontrollers is nearing the physical limits of its miniaturization, which has led to research on various types of memory that could replace NOR flash memory.
STT MRAM, which uses magnetic materials as the memory storage element, is gaining attention as an emerging potential candidate to replace flash memory, as STT MRAM meets the needs for speed, low power consumption, and miniaturization that would make it a good candidate to replace flash memory.
Technological Challenges
STT MRAM uses memory storage elements that take advantage of the effect in which a current that is passed through a magnetic material - such as a magnetic tunnel junction (MTJ)(3) - reverses its direction of magnetization (Figure 1). Passing a current through the MTJ causes its direction of magnetization to switch between a parallel or anti-parallel state, which has the effect of switching between low resistance and high resistance. Because this can be used to represent the 1s and 0s of digital information, STT MRAM can be used as a non-volatile memory.
Reading STT MRAM involves applying a voltage to the MTJ to discover whether the MTJ offers high resistance to current ("1") or low ("0"). However, a relatively high voltage needs to be applied to the MTJ to correctly determine whether its resistance is high or low, and the current passed at this voltage leaves little difference between the read-current and the write-current. Any fluctuation in the electrical characteristics of individual MTJs could cause what was intended as a read-current, to have the effect of a write-current, thus reversing the direction of magnetization of the MTJ.
Newly-developed Technology
In a joint collaboration, Fujitsu Laboratories and the University of Toronto have developed an innovative circuit design (Figure 3) that for the first time resolves the issue of erroneous writes in STT MRAM during read operations.
The newly developed read-method uses a negative resistance(4) that is intermediate between the MTJ's high resistance and low resistance on a parallel circuit (Figure 4). If the MTJ is in a high-resistance state, this circuit exhibits negative-resistance characteristics. If the MTJ is in a low-resistance state, then it exhibits normal-resistance characteristics. These characteristics allow the resistance value to be read at lower voltages than before, suppressing the tendency of the read operation to reverse the direction of magnetization and avoiding the problem of erroneous write operations.
Results
The development of this new read circuit with negative resistance has resulted in STT MRAM that is insusceptible to erroneous writes caused by fluctuations in the electrical characteristics of the MTJs. It is anticipated that the STT MRAM used as miniaturized non-volatile memory would enable greater high-performance in mobile phones and other electronic devices.
Future Developments
Fujitsu Laboratories and the University of Toronto plan to continue with R&D related to STT MRAM to strive toward practical implementation, such as lowering write currents and developing process technologies for further miniaturization.
Glossary and Notes
1 Spin- Torque-Transfer MRAM:Spin-torque-transfer magnetoresistive (STT) random access memory. MRAM that uses the "spin-torque-transfer" effect to reverse the direction of magnetization of an element by passing current through it.
2 Non-volatile memory:Memory that persists even when electrical power is cut.
3 Magnetic tunnel junction (MJT):A tunnel junction that uses the magnetoresistive effect. Consists of a recording layer made of ferromagnetic material, an insulating film a few atoms thick, and a layer made of ferromagnetic material that will not change its direction of magnetization in the presence of a current.
4 Negative resistance:An element that has negative resistance value, in which its current decreases when voltage rises.
About University of Toronto
Established in 1827, the University of Toronto is Canada's largest university, recognized as a global leader in research and teaching. U of T's distinguished faculty, institutional record of groundbreaking scholarship and wealth of innovative academic opportunities continually attract outstanding students and academics from around the world. U of T is committed to providing a learning experience that benefits from both a scale almost unparalleled in North America and from the close-knit learning communities made possible through its college system and academic divisions. Located in and around Toronto, one of the world's most diverse regions, U of T's vibrant academic life is defined by a unique degree of cultural diversity in its learning community. The University is sustained environmentally by three green campuses, where renowned heritage buildings stand beside award-winning innovations in architectural design.
For more information: http://www.utoronto.ca/
About Fujitsu Ltd
Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 160,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please visit www.fujitsu.com.
Contact: Fujitsu Laboratories Ltd. Technology Integration Lab. Platform Technologies Lab. Tel: +81(46)250-8379 E-mail:til-si@ml.labs.fujitsu.com University of Toronto Prof. Ali Sheikholeslami Dept. of Electrical and Computer Engineering Tel: +1(416)978-1681 E-mail:ali@eecg.utoronto.ca Address: 10 King's College Road, Toronto, Ontario, M5S 3G4 Canada
Copyright 2010 ACN Newswire. All rights reserved.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2010) - (All dollar amounts are expressed in United States dollars, unless noted otherwise)
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM)(LSE: FQM) today announced the finalization of the acquisition of the Ravensthorpe Nickel Operation in Western Australia following the receipt of the relevant Government approvals. The acquisition will take effect on February 10, 2010.
The Company is planning to spend the next 12 months constructing two crushing plants in the modification of the crushing, conveying, stockpile and reclaim areas of the plant. This is expected to be followed by approximately six months of commissioning and ramp-up. The capital requirement for the modification is estimated at approximately US$150 million, depending on currency exchange rates.
Ravensthorpe Background
The project is located in Ravensthorpe, Western Australia, approximately 550 kilometres south-east of Perth. It is an open cut mine and hydrometallurgical process plant that uses proven technology to recover nickel and cobalt to produce a mixed nickel cobalt hydroxide intermediate product. The Company expects the project's average annual production of nickel metal will be approximately 39,000 tonnes for the first five years after recommencement of operations and an average annual production of 28,000 tonnes of nickel metal over the expected life of mine of 32 years. Ravensthorpe's development was completed in 2007 however; operations were suspended in January 2009 after the LME nickel price dropped to as low as $8,810.00 per tonne in late 2008.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President 12g3-2b-82-4461 Listed in Standard and Poor's
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable U.S. and Canadian securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to future price of nickel, copper or gold, estimation of mineral reserves and mineral resources, our exploration and development program, estimated future expenses including estimated cash operating costs and capital costs, timing of engineering, construction and commercial production, methods of mining, estimated internal rate of return and net present value of the Ravensthorpe project, exploration and development capital requirements, and our goals and strategies. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes" or variations (including negative and grammatical variations) of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, we have made numerous assumptions including among other things, assumptions about the price of nickel, copper and gold, ore types, throughput and recovery rates, exchange rates and discount rates, anticipated costs and expenditures and our ability to achieve our goals. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
See our annual information form and our quarterly and annual management's discussion and analysis for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made herein, are qualified by this cautionary statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
First Quantum Minerals Ltd. - North American contact
Sharon Loung
(647) 346-3934 or Toll Free: 1 (888) 688-6577
Fax: (604) 688-3818 (FAX)
sharon.loung@fqml.com
First Quantum Minerals Ltd. - United Kingdom contact
Clive Newall
President
+44 140 327 3484
Fax: +44 140 327 3494 (FAX)
clive.newall@fqml.com
www.first-quantum.com
Hogarth Partnership Ltd.
Simon Hockridge
+44 (0) 20 7357 9477
Clarity Communications - Australia contact
Anthony Hasluck
+61 08 9380 0700
Source: First Quantum Minerals Ltd.
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/10/10 -- (All dollar amounts are expressed in United States dollars, unless noted otherwise)
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM)(LSE: FQM) today announced the finalization of the acquisition of the Ravensthorpe Nickel Operation in Western Australia following the receipt of the relevant Government approvals. The acquisition will take effect on February 10, 2010.
The Company is planning to spend the next 12 months constructing two crushing plants in the modification of the crushing, conveying, stockpile and reclaim areas of the plant. This is expected to be followed by approximately six months of commissioning and ramp-up. The capital requirement for the modification is estimated at approximately US$150 million, depending on currency exchange rates.
Ravensthorpe Background
The project is located in Ravensthorpe, Western Australia, approximately 550 kilometres south-east of Perth. It is an open cut mine and hydrometallurgical process plant that uses proven technology to recover nickel and cobalt to produce a mixed nickel cobalt hydroxide intermediate product. The Company expects the project's average annual production of nickel metal will be approximately 39,000 tonnes for the first five years after recommencement of operations and an average annual production of 28,000 tonnes of nickel metal over the expected life of mine of 32 years. Ravensthorpe's development was completed in 2007 however; operations were suspended in January 2009 after the LME nickel price dropped to as low as $8,810.00 per tonne in late 2008.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
12g3-2b-82-4461
Listed in Standard and Poor's
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable U.S. and Canadian securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to future price of nickel, copper or gold, estimation of mineral reserves and mineral resources, our exploration and development program, estimated future expenses including estimated cash operating costs and capital costs, timing of engineering, construction and commercial production, methods of mining, estimated internal rate of return and net present value of the Ravensthorpe project, exploration and development capital requirements, and our goals and strategies. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes" or variations (including negative and grammatical variations) of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, we have made numerous assumptions including among other things, assumptions about the price of nickel, copper and gold, ore types, throughput and recovery rates, exchange rates and discount rates, anticipated costs and expenditures and our ability to achieve our goals. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
See our annual information form and our quarterly and annual management's discussion and analysis for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made herein, are qualified by this cautionary statement.
Contacts: First Quantum Minerals Ltd. - North American contact Sharon Loung (647) 346-3934 or Toll Free: 1 (888) 688-6577 (604) 688-3818 (FAX) sharon.loung@fqml.com First Quantum Minerals Ltd. - United Kingdom contact Clive Newall President +44 140 327 3484 +44 140 327 3494 (FAX) clive.newall@fqml.com www.first-quantum.com Hogarth Partnership Ltd. Simon Hockridge +44 (0) 20 7357 9477 Clarity Communications - Australia contact Anthony Hasluck +61 08 9380 0700
STOCKHOLM, Sweden--(BUSINESS WIRE)-- Regulatory News:
G&L Beijer AB (STO: BEIJB):
2009 FULL YEAR
Net sales increased by 57 per cent to SEK 5,263.2M (3,356.6). - Operating profit amounted to SEK 300.7M (283.2). Including one-time gains of SEK 53.2M, operating profit was SEK 336.4M in 2008. - Profit after tax amounted to SEK 206.0M (202.0). Including one-time gains of SEK 53.2M, profit after tax was SEK 255.2M in 2008. - Profit per share amounted to SEK 10.07 (16.29). Including one-time gains, profit per share was SEK 20.58 in 2008. - Strong cash flow from operations including change in working capital equivalent to SEK 21.69 per share. - The Board of Directors proposes a dividend of SEK 6.50 per share (6.00).
FOURTH QUARTER - Increased profit for the period. - Positive end of the year.
SALES
G & L Beijer ended the year on a positive note. Full-year sales increased by 57 per cent to SEK 5,263.2M (3,356.6). Sales for the fourth quarter rose by 63 per cent to 1,270.6M (778.0). The sales increase for the full year and for the fourth quarter is explained by the acquisition of Carrier ARW which is included in G & L Beijer's accounts from 1 February 2009.
THE BEIJER REF BUSINESS AREA'S sales increased by 75 per cent to SEK 4,757.8M (2,714.1) for the full year. Sales for the fourth quarter rose by 83 per cent to SEK 1,140.0M (624.4). The increase is due to the acquisition of Carrier ARW. Full-year sales for comparable units fell by six per cent. Currency effects had a positive impact on sales of approximately six per cent. Sales for the acquired operations, which were included during February-December, amounted to SEK 2,304M. Sales for the acquired operations amounted to SEK 592.8M for the fourth quarter.
THE BEIJER TECH BUSINESS AREA'S sales amounted to SEK 505.4M (642.5) for the full year. Sales for the fourth quarter amounted to SEK 130.6M (153.6). The fall is due to the weak demand within the manufacturing industry in which Beijer Tech's main customers are located. During the second half of the year there were signs of a recovery compared with the corresponding period last year.
OPERATING PROFIT
The Group's operating profit increased to SEK 300.7M (283.2) for the full year. Including one-time gains of SEK 53.2M, profit for 2008 amounted to SEK 336.4M. Profit for the fourth quarter increased by 50 per cent to SEK 67,6M (45.0).
BEIJER REF'S operating profit for the full year increased by 21 per cent to SEK 299.3M (247.7). Including one-time gains of SEK 22.7M, the result for 2008 was SEK 270.4M. Operating profit for the fourth quarter increased by 59 per cent to SEK 67.9M (42.8). The acquired units contributed positively to the result. Different savings measures generated the desired effect. The co-ordination with the acquired units proceeded according to plan.
Operating profit for BEIJER TECH amounted to SEK 20.6M (55.1) for the full year. Including one-time gains of SEK 30.5M, the result was SEK 85.6 for 2008. Operating profit for the fourth quarter amounted to SEK 4.7M (7.5). The fall in profit is mainly explained by lower sales volumes. Non-recurring costs of approximately SEK 6M were charged to the full-year result. At the same time, savings programmes mitigated the fall in profit.
PROFIT BEFORE AND AFTER TAX
The Group's financial income/expense amounted to SEK -10.8M (-14.4) for the full year and to SEK 0.1M (-2.2) for the fourth quarter. Financial income/expense includes a share in the profits of Malmo Hamn of SEK 7.4M (9.4) and SEK 1.2M (3.4) for the respective period. Profit before taxes amounted to SEK 289.9M (322.0) for the full year and to SEK 67.7M (42.8) for the fourth quarter. Profit after tax amounted to SEK 206.0M (255.2) and to SEK 42.7M (31.2) for the respective period. Profit per share amounted to SEK 10.07 (16.29) for the full year. Including one-time gains, profit per share amounted to SEK 20.58 for 2008. Profit per share for the fourth quarter amounted to SEK 2.09 (2.52).
DIVIDEND
The Board of Directors proposes a dividend of SEK 6.50 per share (6.00).
OTHER FINANCIAL INFORMATION
Consolidated capital expenditure, including acquisitions, amounted to SEK 1,160.3M (91.6) for the full year. Cash flow from current operations, including changes in working capital, amounted to SEK 443.7M (67.2). Liquid funds, including unutilised bank overdraft facilities, were SEK 537.6M (192.7) at the year end. Share holders' equity amounted to SEK 2,175.5M (990.0). The increase is explained by the non-cash issue on the acquisition of Carrier ARW and net profit for the year. The non-cash issue added shareholders' equity of SEK 1,055.5M to the Group. The value of the newly-issued shares is based on the market value on the date of acquisition. Net indebtedness amounted to SEK 400.2M (617.6). The equity ratio was 54.1 per cent (44.6). The average number of employees during the year was 1,765 (1,036).
SIGNIFICANT EVENTS
On 13 January 2009, G & L Beijer signed a final purchase agreement to acquire Carrier ARW. An Extraordinary General Meeting on 29 January 2009 resolved to carry out a non-cash issue by issuing 358,710 class A shares and 8,437,429 class B shares to Carrier Corporation and, therefore, increase the company's share capital by SEK 153,932,432.50 as payment for the acquisition of Carrier ARW. This meant that G & L Beijer's shareholders before the transaction and Carrier Corporation hold 66.7 per cent and 33.3 per cent respectively of the votes and 58.5 per cent and 41.5 respectively of the capital in the company.
The transaction was completed on 30 January 2009. The total capital contributed in kind has been valued at SEK 1,055.5M. Carrier ARW is included in G & L Beijer's accounts from 1 February 2009.
The merger of G & L Beijer's and Carrier ARW's operations creates a strong group within refrigeration wholesale distribution in Europe and a solid platform for global expansion. G & L Beijer and Carrier complement each other in Europe. Carrier is also a big operator in South Africa. The merged operations work in 22 countries, including the Nordic countries and the Baltic States, United Kingdom, Holland, Spain, Belgium, Switzerland, France, Italy, some countries in Eastern Europe, and South Africa. Carrier ARW also contributes an extended product portfolio to G & L Beijer's current product programme.
G & L Beijer acquired the hose and rubber company, Slang-Pac AB in Stockholm, through its Beijer Tech business area. Slang-Pac, which reports sales of SEK 40M and has 14 employees, is included in G & L Beijer's accounts from 1 November 2009.
RISK ASSESSMENT The operations of the G & L Beijer Group are affected by a number of external factors, the effects of which on the Group's operating profit can be controlled to a varying degree. The Group's business areas are dependent on the general economic trend, especially in Europe, which controls the demand for the business areas' products and services. Acquisitions are normally linked with risks, for example staff defection. Other operating risks such as agency and supplier agreements, product responsibility and delivery undertaking, technical development, warranties, dependence on individuals, etc, are continually being analysed and, when necessary, action is taken to reduce the Group's risk exposure. In its operations, G & L Beijer AB is exposed to financial risks such as currency risk, interest risk and liquidity risk. The parent company's risk picture is the same as that of the Group.
FINANCIAL INFORMATION - The Annual Report for 2009 will be published on the company's website, www.beijers.com, at the beginning of April 2010. It will also be mailed to the shareholders. - The Three-Month Report for 2010 will be published on 27 April 2010. - The Annual Meeting of shareholders will held in Malmo on Wednesday 28 April 2010. - The Six-Month Report for 2010 will be published on 16 July 2010. - The Nine-Month Report for 2010 will be published on 21 October 2010. - The Year-End Report for 2010 will be published in February 2011.
Malmo, 10 February 2010 G & L Beijer AB (publ) Board of Directors
This Interim Report has not been the subject of special examination by the company's auditors.
ACCOUNTING PRINCIPLES This interim report has been prepared in accordance with IAS 34.
As far as G & L Beijer AB is concerned, the following issued standards and interpretations, which came into force on 1 January 2009, have been deemed to be relevant to the formulation of the financial report and its reporting principles:
- IFRS 8, Operational segments. This standard takes as its starting point that segmental information shall be presented from the management's perspective. G & L Beijer AB's segmental information has already in the past been based on the internal reporting provided by the highest executive decision maker (The Managing Director). The result is that G & L Beijer AB's segmental classification does not change compared with what has previously been presented in accordance with IAS 14.
- IAS 1, Layout of financial reports. The amendment to this standard involves a change to the layout of the financial reports. In accordance with IAS 1, G & L Beijer AB has chosen to present the Group's total results divided into two reports, a profit and loss account and a report on the other total results. In addition, the Group's change in the shareholders' equity statement reports only transactions with the owners.
Otherwise, G & L Beijer AB continues to apply the same reporting principles and valuation methods as those described in the latest Annual Report.
This information was brought to you by Cision http://www.cisionwire.com
Source: G & L Beijer
More Press Releases
View Older Stories-
Research and Markets: Oral Hygiene in Finland
-
Research and Markets: Vitamins and Dietary Supplements in the Netherlands
-
The Marketing Farm: National Chain of Regional Food Outlets Announced, Launching In Pembrokeshire
-
Pirquitas Mine and Project Development Update
-
Virgin Media Customers to Get Discovery HD Channel and More HD Programmes on Demand
-
Talisman Energy Reports $4 Billion in Cash Flow
-
kbb.com: Toyota Brand Consideration, Vehicle Interest, Values Continue to Decline
-
Market Conditions Reduce Projected Spending on Refinery Turnarounds in 2010, a "Navigating the Currents of Change" Webcast on Industrialinfo.com
-
Muscle Flex Inc. Cancels 5,325,000 Shares
-
4Q09 Results: VIVO Participacoes S.A.
-
The Essential Resource for Poultry Keepers - BowTie, Inc. Releases Chickens(R) magazine
-
Linde Achieves Growth, Invests in Innovation Despite Over-Capacity in PV Industry
-
Neolane Achieves 30 Percent Increase in Revenue in 2009 and Fifth Consecutive Year of Profitability
-
Glide Pharma Completes Oversubscribed GBP2.7 Million ($4.3 Million) Investment Round
-
Most People Believe Osama bin Laden Is Alive and Many Believe He Is in Pakistan
-
The 2010 Ypulse Youth Marketing Mashup Event Announces Neil Howe as Keynote Speaker & AllDorm as Anchor Sponsor
-
Pirquitas Mine and Project Development Update
-
Foodchannel.com Encourages You to 'Be the Chocolate' This Valentine's Day
-
Universal Detection Technology in Deal With WellCrown International Resources to Distribute Bioweapons Detection Equipment in Malaysia
-
Talisman Energy Reports $4 Billion in Cash Flow
-
PL360 Beverage Partners Launches with a Unique Approach to Brand Building
-
Research and Markets: Finland TV Market Maps Package Q3-2009
-
Fitch Solutions: Sovereign Uncertainties Weigh On European Banks' CDS
-
Teleca Becomes a Preferred Integration Partner for Imagination Technologies
-
ET Solar Group Announces 31MW Module Sales Agreement with USE in Germany
-
Director/PDMR Shareholding
-
Preliminary Figures for 2009: Sartorius Group Increases Operating Profit
-
ST-Ericsson paves the way to smartphones for all
-
Buzzinbees Teams with Hewlett-Packard to Provide Signaling Software for Telecom Companies
-
Agennix AG Announces U.S. Class Action Lawsuit Against Predecessor GPC Biotech AG Fully Closed
-
GrapeCity Announces ASP.NET Medium Trust Support in ActiveReports and New Site License Purchase Options
-
WebTech Wireless' InterFleet(R) Emergency Response Vehicle Solution Being Rolled-out by Province of Manitoba
-
Valentines Party Planned for the Blind and Disabled
-
Commtouch Reports Fourth Quarter and Full Year 2009 Financial Results
-
Park Place Energy Corp. Provides Update on European Bid
-
WebTech Wireless' InterFleet(R) Emergency Response Vehicle Solution Being Rolled-out by Province of Manitoba
-
DeviceAnywhere Bolsters European Presence With Latest Appointment
-
TV Genius Joins NDS Recommendations Engine Partner Programme
-
Mobile Broadband Investment Set to Soar as HSPA Connections Pass 200 Million
-
Logitech Announces Logitech Wireless Desktop MK710
-
AarhusKarlshamn: Press Release
-
Net Asset Value(s)
-
Vestas Receives 99 MW Order for the USA
-
SCOR executes on its strategy: the successful outcome of the P&C 1/1 renewals combines growth and an increase in expected profitability
-
EFT BioTech Holdings Retains the Consulting Services of Ms. Angy Chin MBA in an Interim Position to Replace Sharon Tang Who Has Stepped Down as CFO
-
SES ASTRA Supplies ASTRA2Connect for Energy Monitoring in Italy
-
Telegent to Demonstrate Award-Winning Mobile TV Technology at Mobile World Congress 2010
-
Vitrolife: Report on Operations 2009
-
Canasia Industries Corporation: High-Sulphidation Mineral System Indicated on Buena Vista Property in Mexico
-
Canasia Industries Corporation: High-Sulphidation Mineral System Indicated on Buena Vista Property in Mexico
