16.05.2012

TW Flooring Group Acquires EcoTimber, Inks Deal With Dasso

The relationship between EcoTimber and TW Flooring Group's CEO William Jopling go back to when EcoTimber was formed in 1992. Then, Jopling's International Wood Flooring company supplied EcoTimber with commercial flooring. Later on, Jopling's Wood Flooring International supplied EcoTimber with residential hand-scraped products. Also, Jopling and EcoTimber served as early members of the Vermont-based Woodworkers Alliance for Rainforest Protection.

Jopling has garnered the support of EcoTimber's original founders—Jason Grant and Aaron Maizlish, who both left the company to pursue other ventures—to take EcoTimber forward. "No one is better positioned than Bill Jopling and TW Flooring Group when it comes to servicing the green wood and bamboo flooring needs of EcoTimber’s dealer base and A&D clientele," Grant said in a statement from TW Flooring Group.

Dasso, which makes strand-woven and pressed bamboo products, is a major player in China's bamboo products industry; the company boasts 10 manufacturing sites and more than 1,000 employees, according to a release from TW Flooring Group. Jopling said Dasso has global sales offices in the Netherlands, Hungary, China and Singapore, and it has long served as a supplier for American companies such as Mannington, Anderson, Wood Flooring International and other well-known brands, including EcoTimber. Dasso's wood products were not part of the deal.

 

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14.05.2012

Atkore International Holdings Inc. Announces Second Quarter 2012 Financial Results



"I'm really pleased with our second quarter results. We achieved Adjusted EBITDA margins of 9% and maintained or improved our market share in all segments," said John Williamson, President and Chief Executive Officer. "We are continuing to invest in strengthening as well as growing our core businesses."The Company has presented its financial results for the Predecessor Company and the Successor Company in the financial statements, in accordance with generally accepted accounting principles in the United States of America ("GAAP"), for the periods before and after the Transactions on December 22, 2010. Despite the separate presentation, there were no material changes to the actual operations of the Company's business as a result of the acquisition of a majority interest in Atkore International by affiliates of CD&R.

As the core operations of the Company have not changed as a result of the Transactions, when evaluating our results of operations for purposes of this discussion, our management treats the six months ended March 25, 2011 as a single measurement period, rather than the two separate periods that are required to be reported under GAAP.Net sales increased $35 million for the three months ended March 30, 2012, to $427 million from $392 million for the three months ended March 25, 2011.

The increase was due to higher volume from our North American steel pipe, tube and conduit and cable products, and higher aggregate sales from global cable management products and the addition of sales from acquired businesses. This increase was partially offset by a reduction in sales from our Brazilian operations due to lower volume and pricing. Changes in foreign currency exchange rates had a favorable impact primarily as a result of the depreciation of the U.S. Dollar versus the Australian Dollar and Brazilian Real.

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09.05.2012

Australia home to 'globe-trotting' dinosaurs

Scientists said a new fossil discovery suggested Australia's dinosaurs were cosmopolitan globe-trotters, unlike the "unique weirdos" of its current wildlife.Palaeontologist Erich Fitzgerald said an ankle bone fossil found 87 kilometres from Melbourne indicated that meat-eating dinosaurs known as ceratosaurs lived in what is now Australia some 125 million years ago.He said the finding suggested that back then Australia had the same large, well-known predators such as tyrannosaurs and allosaurs which are found around the world."The dinosaurs we see here are not unique weirdos like modern koalas and kangaroos on a global scale," Mr Fitzgerald said.

"Contrary to the modern animals we see in Australia, these meat-eating dinosaurs in Australia represent globe-trotting groups which spread out across the world before the continents began to separate."We've got representatives of groups that are actually found everywhere else. We really have this melting pot... where it was really a cosmopolitan bunch of dinosaurs which called Australia home 125 million years ago."The ceratosaur was a relatively small, meat-eating dinosaur which grew to be one to two metres high and could be as long as three metres.

The discovery, announced in the journal Naturwissenschaften, adds to the picture about dinosaurs in eastern Gondwana, the continent which broke into Australia, Antarctica and India between 80 and 130 million years ago."It had been thought that isolation played a lead role in the formation of Australia's dinosaur fauna," Mr Fitzgerald said, a Museum Victoria palaeontologist."But the ceratosaur and other new discoveries show that several dinosaur groups were here. These dinosaur lineages date back to the Jurassic, 170 million years ago, when dinosaurs could walk between any two continents.

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