EastGroup Properties Inc (NYSE:EGP) announced two acquisitions in separate transactions in Charlotte, North Carolina. Lakeview Business Center ($7,000,000) is a 127,000 square foot business distribution building located in Charlotte’s north submarket. Built in 1996, this state-of-the-art facility is 100% leased to three customers and is projected to generate a first year cash yield of 7.2%.
EastGroup Properties, Inc., a real estate investment trust (REIT), focuses on the development, acquisition, and operation of industrial properties in the United States.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Biomass could supply a large part of the world’s energy, through effective forest management, advance harvesting techniques and more efficient stoves and biolers. Biomass is a versatile energy source. Organic matter that is used as a source of biomass energy includes trees, timber waste, wood chips, corn, rice hulls, peanut shells, sugar cane, grass cuttings, leaves, manure, sewage, and municipal solid waste. All around the world people have used and are using woodstoves to heat their buildings and for cooking, making biomass one of the most common forms of energy. Biomass absorbs carbon dioxide during growth, and emits it during combustion; therefore, it recycles atmospheric carbon and does not add to the greenhouse effect. It also does not contribute much to acid rain as it produces only low levels of sulfur and ash.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Tidewater Inc. (NYSE:TDW) will present at the Barclays Capital 2011 CEO Energy-Power Conference in New York, New York, on Wednesday, September 7, 2011, at approximately 8:25 a.m. Eastern time. The presentation will be available via real-time webcast at http://www.tdw.com. Playback will be available on September 8, 2011, at approximately 8:25 a.m. Eastern time.
Tidewater Inc., through its subsidiaries, provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels.
Ashland Inc (NYSE:ASH) completed its acquisition of privately owned International Specialty Products Inc. (ISP), a global specialty chemical manufacturer of innovative functional ingredients and technologies. The purchase was an all-cash transaction for $3.2 billion, subject to post-closing adjustments for changes in net working capital and certain other items.
Ashland Inc. operates as a specialty chemicals company in the United States and internationally. Its Ashland Aqualon Functional Ingredients segment produces cellulose ethers; and specialty additives and functional ingredients.