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American Vanadium Corp. has entered into a Letter of Intent (LOI) with DMG MORI to acquire DMG MORI’s wholly owned subsidiary, Gildemeister energy storage GmbH (GES), manufacturer of the CellCube vanadium flow energy storage system. The LOI provides American Vanadium with the exclusive right to enter into a share purchase agreement (SPA) on or before February 29, 2016.

With numerous international, successfully realized and independent reference projects, GES is a leading supplier of proven and commercially available vanadium flow battery systems. Thus far, GES’s installed base of CellCube energy storage systems have accumulated almost two million hours of continuous operation.

CellCube’s patented flow battery technology delivers major benefits to the modern energy market place resulting from a lifetime of 20+ years and unlimited cycles, achieving a low levelized cost of electricity and total cost of ownership compared to other storage technologies.

American Vanadium is working with its advisors to develop a financing plan for the acquisition of GES. Various alternative structures are being evaluated, including the establishment of a wholly-owned subsidiary (Newco) for the acquisition and a subsequent financing of Newco. American Vanadium will release further details once plans are finalized.

It is expected that the shares of American Vanadium will remain halted until the SPA is executed and further details of the transaction are finalized.

Published in the February 2016 Edition of American Recycler News

Declining Asian consumer and industrial demand, made worse by a strong dollar, has cut into U.S. export volumes and eroded U.S-Asia freight rates to the point where some dry cargoes are moving at levels which make them less attractive to carriers than repositioning empty containers.

As a result, member container lines in the Transpacific Stabilization Agreement (TSA) have agreed on the need for an across-the-board increase in dry cargo rates, effective February 1, 2016.

The recommended general rate increase (GRI) is in the amount of $100 per 40 foot container (FEU) for cargo moving via the U.S. West Coast, and $200 per FEU for cargo moving via the U.S. East and Gulf Coasts. The GRI will not apply to refrigerated shipments, which are rated separately.

TSA executive administrator Brian Conrad noted that westbound cargo volumes are likely to post negative growth for 2015, as orders have slowed over all, and as sourcing for many goods and raw commodities have shifted to countries with more favorable exchange rates.

Published in the February 2016 Edition of American Recycler News

The American Public Works Association (APWA) announced that Patricia  A. Hilderbrand, MPA, PE, division manager of coordination services for the Kansas City Public Works Department, has been appointed to the Institute for Sustainable Infrastructure (ISI) board of directors. Hilderbrand was appointed to the 11-member ISI Board by APWA president Brian Usher, PWLF.

Within Hilderbrand’s career in the Kansas City Public Works Department, her responsibilities have included project management of major flood mitigation projects with the U.S. Corps of Engineers; direction of the department’s five year Capital Improvements Program; direction and implementation of a city-wide, comprehensive Internet program and project management system; management of the city’s transit contracts; and service as liaison to the city’s primary Metropolitan Planning Organization, MoDOT, Railroads, Transit authority, counties and franchises.

Hilderbrands also oversees a staff of 16 employees including the Public Information Officer, the customer service group, the asset management team and project controls manager, as well as the city bicycle and pedestrian coordinator, right-of-way management team and utility coordinator.

Published in the February 2016 Edition of American Recycler News

Waste Management Inc. of Florida has completed its acquisition of certain business assets of Southern Waste Systems (SWS)/Sun Recycling in Miami-Dade, Broward, Palm Beach, Martin and St. Lucie counties.

With this transaction, Waste Management Inc. of Florida is acquiring operations and assets at 12 SWS/Sun Recycling facilities located in Palm Beach, Broward and Miami-Dade Counties. The acquired business assets include residential, commercial, and industrial solid waste collection, processing/recycling and transfer operations, equipment, vehicles, real estate and customer agreements.

Published in the February 2016 Edition of American Recycler News

KPI-JCI and Astec Mobile Screens has hired Tim Harms as senior sales engineer for crushing and screening products at its Kolberg-Pioneer, Inc. manufacturing facility.

In his new role, Harms will assume a sales engineering leadership role and act as a resource for the sales engineering staff. He will also help guide equipment selection for potential customers and manage sales opportunities in conjunction with the product management group and the field sales force. Additionally, Harms will be responsible for assisting other sales personnel in the development of production and operation cost data, product pricing, sales tools and training materials.

Harms first began his relationship with the company in 1989, when he was hired as an engineering design drafter. Over the next 20 years, he served in a variety of roles, including project designer, product application specialist and sales engineer. In 2009, he left the company to pursue a full-time farming operation with his family’s farm.

Published in the February 2016 Edition of American Recycler News

Momentum Rental and Sales, an Atlas Copco dealer in Port Lavaca, Texas, opened two new facilities – one in Corpus Christi and another in Richwood, Texas. With the new locations, Momentum extends Atlas Copco’s equipment and support offering to the growing petrochemical and refinery customers in those areas.  

The new facilities bring Momentum’s number of stores to three. The company rents, sells and services a wide range of new and used equipment, including Atlas Copco portable air compressors, generators, handheld tools and light compaction equipment in addition to lifts and earth moving machines.

Barrett has more than 15 years of experience in the rental industry, which helps him build strong relationships with customers. Momentum Rental and Sales has been serving Texas for three years and became an Atlas Copco dealer in 2013.

Published in the February 2016 Edition of American Recycler News