Press Releases

50 Percent Decrease in Energy Costs and 25 Percent Increase in Productivity Realized by Weseralu GmbH

SAN FRANCISCO, Oct. 14 /PRNewswire/ -- Zenergy Power plc (AIM: ZEN.L), the specialist manufacturer and developer of commercial applications for high-temperature superconductive (HTS) materials today announced impressive operational results of the world's first HTS induction heater. Zenergy, with its manufacturing partner, Bultmann GmbH, announced the installation of the HTS induction heater at Weseralu GmbH in July 2008. Completely integrated and operating at full capacity for over three months, Zenergy's HTS induction heater has enabled Weseralu to realize significant results including a 50 percent decrease in energy costs and a 25 percent increase in productivity.

Since installation, Weseralu has experienced a dramatic increase in industrial output, a result wholly attributable to Zenergy's unique and proprietary HTS technology. Zenergy's induction heater has heated over 25,000 billets of aluminum -- each weighing in excess of 30kg -- a total of in excess of 700 tonnes of metal. Results also reveal the HTS induction heater is delivering aluminum billets heated to 450 degrees C every 75 seconds. Moreover, the HTS technology also enables the machine to continuously deliver more evenly heated billets when compared to conventional induction heaters. The rapid production of metal billets heated to a high level of uniformity results in a far more malleable billet, making it easier to manipulate and shape. This has enabled the existing equipment to process the heated metal billets at over twice its original speed.

Estimates based on the performance data determine that the increased productivity levels delivered by Zenergy's HTS induction heater will generate between euro 200,000 and euro 2 million of additional operating profit per annum per HTS machine, depending on the intensity of customers' operations and the size of metal billets used.

Complementing the increase in productivity is the substantial increase in energy efficiency. Zenergy's HTS induction heater requires half the amount of electricity required by conventional induction heaters. Based on Weseralu's current scale of operations, this will lead to an additional annual cost saving of over euro 50,000 for the single unit that has already been installed. Based on this performance, Zenergy estimates that its HTS induction heater can produce energy cost savings of over euro 300,000 per induction heater for customers, depending on their operational intensity and the size of billets used.

"We are very proud that we are pioneers in our industry by becoming the first company in the world to adopt an HTS driven machine and since its simple installation into our industrial operations we remain evermore convinced that we made the right decision in adopting this new generation of technology," remarked Heinz Hagemann, owner and managing director, Weseralu GmbH. "The performance and energy efficiencies delivered by HTS technology speak for themselves and I look forward to further evaluating the additional benefits it can bring to our industrial operations."

Halving its energy consumption also provides Weseralu with annual CO2 emissions savings of approximately 380 tonnes of carbon, worth approximately euro 9,500 at a CO2 price of euro 25 per tonne. The substantial reduction in energy consumption supplied by the HTS induction heater to metals producers is particularly significant considering that as much as one to five percent of total annual electricity consumption in an industrialized country is directly attributable to the operation of heating equipment by metals producers.

About Zenergy Power plc

Zenergy Power plc is a global specialist manufacturer and developer of commercial applications for superconductive materials. Comprising three operating subsidiaries located in Germany, USA and Australia, Zenergy is focused on the commercialization of its energy efficient applications for energy intensive industrial processes, power distribution and renewable power generation. Zenergy achieved the world's first sale of an industrial scale HTS induction heater, which is now fully operational.

Zenergy's HTS applications enable, or aim to enable:

(a) Induction Heaters to halve the amount of energy required to heat aluminum and copper billets

(b) Fault Current Limiters to protect power grids from blackouts

(c) Hydropower stations to significantly increase energy output by up to 15%

(d) Offshore wind turbines that are in excess of 8 MW to reduce the cost of power production by up to 25%

About superconductivity

Superconductive materials are capable of conducting dc electricity without any resistance and were first discovered in 1911 in what was to prove to be one of the most significant scientific breakthroughs of the 20th century.

SOURCE Zenergy Power plc

CHICAGO--(BUSINESS WIRE)--

Fitch Ratings has downgraded the ratings of YRC Worldwide Inc. (NASDAQ: YRCW) and its Roadway LLC and YRC Regional Transportation, Inc. subsidiaries, as follows:

    YRC Worldwide Inc.

    --Issuer Default Rating (IDR) downgraded to 'B' from 'BB';

    --Secured credit facilities downgraded to 'BB/RR1' from 'BB+';

    --Senior unsecured downgraded to 'CCC+/RR6' from 'BB-'.

    Roadway LLC

    --IDR downgraded to 'B' from 'BB';

    --Senior secured notes downgraded to 'B-/RR5' from 'BB-'.

    YRC Regional Transportation, Inc.

    --IDR downgraded to 'B' from 'BB';

    --Senior secured notes downgraded to 'CCC+/RR6' from 'BB'.

Fitch's ratings apply to approximately $1.0 billion in consolidated debt and a $950 million revolving credit facility. The Rating Outlook for YRCW remains Negative.

The ratings reflect the potential for continued deterioration in less-than-truckload (LTL) market conditions through at least the middle of 2009, which has significantly increased the risk in YRCW's near term credit profile. Over the past month, economic trends have worsened materially, indicating a more rapid slowing of the global economy than previously expected. This slowdown in global economic growth likely will have a negative effect on YRCW's primary retail and industrial customer base, potentially driving the company's revenue and EBITDA in upcoming quarters well below prior forecasts. Although Fitch expects YRCW to maintain sufficient liquidity and remain in compliance with its credit facility covenants through the end of 2008, the likelihood of a covenant breach and/or liquidity squeeze in the second quarter of 2009 has increased materially.

Following a period of relatively stable, albeit weak, industry demand through much of the summer, it appears that the LTL sector experienced a further significant decline in demand beginning in early September, and indications are that demand has remained notably weaker through October. Expectations are that the pre-Holiday shipping peak will be muted again this year and likely weaker than the past two years, while the ongoing credit crisis could prolong the difficult LTL market conditions through the next year. Although diesel fuel prices have fallen sharply since mid-July, much of the effect will be offset by a reduction in fuel surcharges, while base LTL shipping rates have declined this fall as price competition has risen.

YRCW's free cash flow tends to be seasonal, with relatively weak free cash flow generation in the first half of the year, offset by much stronger free cash flow in the second half. Despite the weakening market conditions, Fitch expects YRCW to record positive free cash flow in the in the third and fourth quarters of 2008; however, the level of free cash flow is now expected to fall below earlier forecasts. In addition to a weaker 2008 than originally envisioned, concern is growing that worsening economic conditions will result in a very weak first half of 2009, as well. This could be especially problematic for YRCW, as the debt/EBITDA leverage covenant in its credit facility, which declines to 3.5 times (x) in the fourth quarter of 2008 from the current 3.75x level, will constrain the company's ability to fully utilize the available liquidity on its revolving credit facility and its receivables-based asset backed securitization (ABS) facility. With potentially weak EBITDA over the next four quarters, the leverage measurement could come close to, or breach, the covenant level by the second quarter of next year, even with a modest reduction in outstanding debt.

With the credit markets essentially frozen, opportunities to tap external sources for cash in the near term are limited. However, by calling its $225 million December Roadway note maturity and its $100 million May YRC Regional Transportation note maturity early and using its revolver to fund the payments, the company has improved its financial flexibility, as it now has no debt maturities prior to 2010. Depending on the level of free cash flow generated in the fourth quarter, YRCW may have an opportunity to repay a modest portion of the revolver borrowings late this year or early next year, although the effect on its calculated leverage ratio may be minor. Crucial to YRCW's liquidity position will be its ability to renew the $600 million ABS facility when it comes due next May. An inability to refinance the facility would severely impair the company's access to cash. The opportunity could exist for YRCW to engage in some equity-related transactions, although the effect of any such transactions could be reduced by its low share price, which has declined by 60% since mid-September.

YRCW has several initiatives underway to increase both revenue and operating efficiency. The most significant of these is the merging of the Yellow Transportation and Roadway Express operations into a single subsidiary, which has the potential to significantly improve asset utilization and network efficiency in the YRC National Transportation segment. The company has estimated that the initiative will generate annualized benefits of $200 million once complete. It could also result in cash proceeds from the sale of redundant assets, primarily facilities, which could be used to further reduce leverage. The timing of asset sales and level of proceeds derived from such sales is currently unknown but both could be negatively affected by the turmoil in the credit markets.

The recovery rating of 'RR1' on YRCW's credit facilities reflect their hard asset collateral coverage and expectations for a full recovery in the event of a bankruptcy. The 'RR5' recovery rating on the Roadway senior secured notes reflects their hard-asset collateral coverage (essentially a portion of Roadway's real estate holdings), which is shared with the secured credit facility. The recovery rating of 'RR6' on the remaining rated issuances reflect expectations for a poor recovery in a bankruptcy scenario, including the effect of weak collateral coverage on the YRC Regional Transportation secured notes. The negative Rating Outlook reflects Fitch's concerns that additional downgrades may be necessary if LTL market fundamentals decline further, increasing the stress on YRCW's near-term credit profile and raising the likelihood of a covenant breach or liquidity squeeze as soon as the second quarter of 2009.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Source: Fitch Ratings

NEW YORK--(BUSINESS WIRE)--

iPerceptions Inc. (TSX.V: IPE), a leading provider of web-focused Voice of Customer analytics, announced today that Century 21 Real Estate LLC is using iPerceptions webValidator Continuous Listening Solution to tune into the voices of online visitors in order to understand and improve the online experience at its Web site, www.century21.com. With iPerceptions, the Century 21 Real Estate LLC marketing organization is able to easily solicit and analyze user-generated feedback from millions of home buyers and sellers to understand who is visiting the site, why they are online, how the Web site experience affects their perceptions of the brand, and how the brand can serve them best.

"It is essential that our online offerings match the high expectations consumers have of our brand," said Bev Thorne, Chief Marketing Officer, Century 21 Real Estate LLC. "iPerceptions' mission of revolutionizing Web analytics by fully integrating the voice of the online customer aligns seamlessly with our online marketing strategy. 84% of consumers are using the Internet to search for their next home and through our relationship with iPerceptions, we are able to gain invaluable insights into what the consumer wants in the online real estate space."

The CENTURY 21 marketing team re-launched the company's site this summer with distinctive features such as intuitive search and an advanced map tool, and is using the insights delivered by iPerceptions to continue to refine its Web site strategy around the needs and goals of its customers. iPerceptions has also provided them with quantifiable success metrics around its online initiatives that are unavailable with traditional Web analytics tools. For example, iPerceptions data showed a significant increase in the number of site visitors who see the brand's new Web site as innovative, stylish, unique and non-traditional - key goals for the company. These brand values are further supported by the CENTURY 21 system's new social media initiatives such as a dedicated YouTube channel (http://www.youtube.com/century21) where agents post videos of their listings.

"Engaging our customers through viral media channels, social networks and our own Web site is increasingly important as we strive to reach buyers and sellers wherever they are consuming news and information," Thome continued. "By tapping the real voices of our customers, iPerceptions is able to provide insights that can impact every part of our online marketing mix."

iPerceptions provides the CENTURY 21 brand with the technology to successfully transform the voices of real customers into business intelligence and actionable insight, including:

    --  Proprietary online research methodology: Visitors to
        www.century21.com receive a two-part invitation to participate
        in a post-experience survey and real-time data monitoring and
        tools to predict outcomes, track trends and create benchmarks.

    --  Perceptual framework: CENTURY 21 is able to easily identify
        site strengths and weaknesses, discover the attributes with
        the highest impact on visitor satisfaction, and set priorities
        for attention.

    --  Extensive segmentation and visitor profiling: CENTURY 21 can
        now better understand the different voices in the crowd so
        that it can isolate and improve experiences by segment.

"The CENTURY 21 team is committed to enhancing the online user experience for its customers and we are very excited to assist them in this effort," said Jonathan Levitt, vice president of marketing at iPerceptions.

About Century 21 Real Estate LLC

Century 21 Real Estate LLC (www.century21.com) is the franchisor of the world's largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the CENTURY 21 System. The System is comprised of more than 8,900 independently owned and operated franchised broker offices in 61 countries and territories worldwide. Century 21 Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services.

About iPerceptions

iPerceptions is one of North America's leading web-focused Voice of Customer analytics providers. Its webValidator Continuous Listening solution and Proprietary iPerceptions Satisfaction Index (iPSI), turn thousands of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions' clients include such well known brands as InterContinental Hotels, General Motors, Dell Computers, Hyundai, LG Electronics, Choice Hotels International, BMW and Monster Worldwide. iPerceptions has offices in New York, Toronto, Montreal and London, UK.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Source: iPerceptions Inc.

NEW YORK--(BUSINESS WIRE)--

The Deal LLC, the authoritative voice of the deal economy, today unveils The Deal Pipeline, (www.thedeal.com/pipeline), a premier deal discovery and sourcing resource providing actionable intelligence for the global community of corporate and financial dealmakers, advisers and institutional investors.

A comprehensive subscription-based product, The Deal Pipeline provides access to real-time news and information on more than 50,000 firms and 40,000 individuals involved in the sell-side and buy-side of dealmaking.

Using cutting-edge search technology to aggregate The Deal's exclusive proprietary content, along with targeted external content from around the Web, The Deal Pipeline helps users sift through a wealth of information with navigation tools built for convenience, accessibility and ease of delivery. These navigation tools allow users to effortlessly search and personalize information by companies, people and topics (news, industry, region, size and/or keyword) and receive content via the Web, mobile devices and email. Other unique features to The Deal Pipeline include:

    --  Forward-looking intelligence that uncovers deal flow
        opportunities

    --  Access to original and difficult-to-track information on
        auctions, private companies and middle market deals

    --  Profiles of firms and top-level professionals that allow users
        to track peers and competitors

Along with a subscription to The Deal Pipeline, users will also receive The Daily Deal, the twice-daily electronic newspaper offering news, transaction coverage, arbitrage statistics and career maneuverings.

"As dealmaking has changed velocity and direction, The Deal Pipeline is an essential discovery and intelligence tool for dealmakers looking to drive deal flow and seize new business opportunities," said Kevin Worth, CEO and president, The Deal LLC.

The Deal Pipeline rolls up the company's existing paid electronic products--TheDeal.com, Auction Block, Merger Arb Alert, Bankruptcy Insider and VCDeal.com--into one product. It will be sold on an enterprise-level to investment banks, law firms, private capital funds and others.

The Deal Pipeline currently has more than 2,000 beta-testers at some of the largest banking, investment and law firms. Some of its largest customers already include banks, restructuring, private equity and law firms.

For more information on The Deal Pipeline, contact Michael Crosby, Vice President of Sales, at 212.313.9325 or at mcrosby@TheDeal.com.

About The Deal LLC

The Deal LLC (www.thedeal.com) is a diversified media company that is the authoritative voice of the deal economy. We serve the global deal community-corporate and financial dealmakers, advisers and institutional investors-by providing business and financial news and information that offers fresh insights on the deal economy, a set of interrelated activities, focused on dealmaking of all kinds, whose purpose is to generate corporate and capital growth in a continually changing global market. We offer a comprehensive line of print and electronic products - The Deal, The Daily Deal and TheDeal.com - and live annual events including Private Capital Symposium, Distressed Investing Forum, Corporate Dealmaker Forum and M&A Outlook. The Deal LLC, a privately held company, is owned by private investment funds, including U.S. Equity Partners LP, sponsored by Wasserstein & Co. LP.

Source: The Deal LLC

MINNEAPOLIS, Oct. 14 /PRNewswire/ -- Jostens today announced the JOSTENS(R) ROCK THE SCHOOL HIGH SCHOOL MUSICAL 3: SENIOR YEAR CONTEST at Jostens.com to coincide with the opening of "High School Musical 3: Senior Year," in theaters Oct. 24. The contest will be open to students 13 and over. Students will be invited to submit their stories and ideas that best reflect the essence of Senior Year for a chance to win customized high school products featured in the film, created by Jostens for the film's characters. Contest details are available at http://www.jostens.com.

(Photo: http://www.newscom.com/cgi-bin/prnh/20081014/AQTU101)

America's favorite high school seniors from "High School Musical 3: Senior Year" celebrate their final year of high school in authentic style as a result of the relationship between the movie and school tradition expert, Jostens. Many "High School Musical 3: Senior Year" characters sport custom-designed high school class rings created specifically for the film at Jostens' Denton, Texas, jewelry facility. The characters receive their East High diplomas in Wildcat red graduation regalia, all courtesy of Jostens. HSM3 students also celebrate and share their most memorable high school stories on the big screen with the help of East High yearbooks designed and produced at Jostens' Topeka, Kansas, yearbook facility.

"Our mission is to help schools achieve their mission, and that includes promoting the importance of graduation, building great school communities, and capturing once-in-a-lifetime high school moments so they can be celebrated and shared for a lifetime," said Kim Noonan, vice president, Marketing, Jostens. "We were thrilled to work with the producers of HSM3 and honored to have this opportunity to continue reinforcing the timeless significance of high school traditions."

The Jostens' team delivered one-of-a-kind products customized to meet the specifications required to create an authentic high school setting for the movie. Jostens' jewelry design experts created custom ring side panels on more than 100 rings provided to the film, showcasing the authentic East High Wildcat mascot, colors and basketball team's State Championship. Each ring was personalized with the name of the character, school and mascot.

"High School Musical 3: Senior Year' is all about celebrating high school and the stories that surround senior year," said Noonan. "Senior year is an important milestone for young adults and their families and helping Walt Disney Pictures bring the traditions to life on screen in an authentic manner really reinforces the importance of celebrating high school achievement."

Jostens' Graduation Regalia team at the Laurens, South Carolina, facility met the fabric specifications of filmmakers in order to achieve the best color and sound reproduction for the film and also created custom stoles to facilitate a special scene. Custom East High diplomas were created by Jostens in Shelbyville, Tennessee. Representatives from Jostens helped create an authentic East High yearbook staff room using Jostens' yearbook tools and materials along with other marketing materials to help decorate the rest of the school.

About the Movie

Disney's "High School Musical" phenomenon leaps onto the big screen in HIGH SCHOOL MUSICAL 3: SENIOR YEAR, in which America's favorite high school students (ZAC EFRON, VANESSA HUDGENS, ASHLEY TISDALE, LUCAS GRABEEL, CORBIN BLEU and MONIQUE COLEMAN) hit senior year. Amidst a basketball championship, prom and a big spring musical featuring all of the Wildcats, Troy and Gabriella vow to make every moment last as their lifelong college dreams put the future of their relationship in question. A crew of sophomore Wildcats (MATT PROKOP, JUSTIN MARTIN, JEMMA MCKENZIE-BROWN) joins in the fun as the film's incredible new music and exciting dance numbers take maximum advantage of the big screen. Directed by Kenny Ortega from a screenplay written by Peter Barsocchini, the film opens in theaters Oct. 24.

About Jostens

Minneapolis-based Jostens is a provider of products, programs and services that help people inspire achievement and celebrate memories. The company's products include school yearbooks and memory books, OurHubbub(TM) brand MemoryBooks, scholastic products such as class rings and graduation products, and products for athletic champions and their fans. Jostens is a subsidiary of Visant Corporation, a leading marketing and publishing services enterprise servicing the school affinity, direct marketing, fragrance and cosmetics sampling and educational and trade publishing segments.

SOURCE Jostens