Displaying items by tag: GCW176
Italcementi offices visited in insider trading probe
06 November 2014Italy: Officers from Italy's market regulator Consob and the tax police visited the headquarters of Italcementi on 5 November 2014 as part of an investigation into alleged insider trading, sources close to the matter said, according to Reuters.
According to local media, the inspections, which were also carried out at the offices of Italcementi's main shareholder Italmobiliare, concerned a series of measures taken by the Italcementi group in March 2013 in a bid it made for its French unit Ciments Francais.
A spokesman for Italcementi said that the group hoped that the Consob inspections would not reveal deliberate intention to do wrong. "In the opposite case, the group's management will take firm initiatives to safeguard the interests of the company, which would be the injured party."
PPC board reveals alleged resignation 'reasons'
06 November 2014South Africa: The board of PCC has accused former CEO Ketso Gordhan of defamation and published the circumstances behind his resignation, according to local media.
Initially the board of PPC stated that Gordhan had resigned due to 'a difference of opinion' regarding board procedures. However, Gordhan later said that he had lost confidence in the board for not dismissing an executive who was 'undermining company strategy.' PPC had only two executives at the time, Gordhan and CFO Tryphosa Ramano.
PPC said the reasons Gordhan had given for wanting to fire CFO Ramano included that she 'had a bigger office than him' and had requested a reserved parking spot. Ramano had also refused to participate in a voluntary salary sacrifice scheme aimed at raising the wages of lower-level workers and was 'interrogating a loan agreement' which Gordhan had verbally agreed to with a potential funder. The board said that Ramano had ill-treated an employee whom Gordhan had employed.
The board was of the view that the reasons advanced by Gordhan were not substantive and did not warrant the termination of the CFO. Additionally, PPC said that Gordhan had resigned twice in his 20-month stint as CEO.
According to Gordhan PPC's statement is, "Making a complete mockery of the substantial reasons I presented to the board and shows the board's inability to actually deal with the relevant matters impacting the business and shareholder value."
Haver & Boecker launches Roto-Packer Adams Mini system, G600 palletising series and Feige PalletFill Type 16
06 November 2014Germany: Haver & Boecker has recently launched its new Roto-Packer Adams Mini packing system, the new G600 palletiser series and the Feige PalletFill Type 16.
The Roto-Packer, based on Adams technology, fills powder-type bulk materials into compact polyethylene bags at speeds of up to 600bags/hr and over a steplessly adjustable weight range of 1 – 10kg. Haver Innovation Management are working to increase the packing speed to 1200bags/hr.
The new G600 palletiser series from Newtec Bag Palletizing, a Haver & Boecker subsidiary, has also been launched. To increase capacity, the G600 series palletisers work using two lifts to convey the bags. Control of the palletisers is done via a human-machine-interface, which allows the user to operate the machine. The operator can perform a product changeover or switch to a maintenance mode with only a few adjustments. A VPN connection for remote maintenance ensures ongoing support by specialists of Newtec Bag Palletizing and allows a reduction in maintenance time.
'Plug & Fill' and 'ATEX compliance' are the key functions of the Feige PalletFill Type 16, a swivel-type pallet filling station. Feige, a Haver and Boecker company launched the product. The pallet-filling station is used for the automatic and calibrated filling of drums and pails on pallets. The mobile design allows filling directly at the tank without first having to pump the product from the tank system to a fixed filling system. 255 dosing-parameter settings for a variety of products can be entered. The control and operating systems are placed directly at the filling station.