The Star Online: Business
The Star Online: Business |
- Envirotac makes inroads into plantations
- FAA approves Boeing Dreamliner battery system design
- Dell shares at two-month low after Blackstone pulls out
| Envirotac makes inroads into plantations Posted: 19 Apr 2013 06:21 PM PDT KUALA LUMPUR: Envirotac II is making inroads into the Southeast Asian region's plantations in the construction of roads in difficult terrains, with proven track records in Malaysia and Indonesia. Smart Construction Solutions founder Vincent Benedict says Envirotac II is a water soluble, vinyl acetate-acrylic copolymer which stabilises the soil and controls the dust. "We are working with several big palm oil plantations currently both in Malaysia and Indonesia. We are also in the verge of securing a large road project in Western Africa. "Other countries in the Asia/Pacific Region are also being pursued," he tells StarBiz. Smart Construction Solutions had undertaken a Malaysian plantation company's road project in Indonesia linking the plantations with the road leading to the jetty and the road is still firm after 11 months. It has also carried out test projects for companies in Sabah, especially in very difficult terrain due to land erosion. He eyes about 5,000km of proposed roads in Sabah and 10,000km in Sarawak. If all goes well, it is set to clinch a major road project in the Republic of Niger where a Malaysian company wants Smart Construction to build 6,000km of roads over five years. To prove the durability of Envirotac II, Vincent recently undertook a trial project for the company in a plantation in Tanjung Malim, Perak. He describes Envirotac II as an environmentally-safe, low cost acrylic copolymer. When applied to soil or sand, it will penetrate and coat the surface, he explains. When it dries, it forms a water-proof, UV-resistant, solid bond which binds the soil particles. Vincent adds by increasing the concentration of Envirotac II, this would result in a highly durable surface which can withstand heavy traffic. To recap, Envirotac II is a proprietary blend of polymers that use proven long-chain nano-technology to form complex bonds at the microscopic level between aggregates. The Envirotac II product is developed by US-based Environmental Products & Applications and it had appointed Smart Construction Solutions as its exclusive distributor for Asia-Pacific and Africa. Basically, Envirotac II allows existing soils and sands that would normally have no load bearing capabilities, to be used for roads, parking lots, trails and other heavy traffic areas at a fraction of the cost of traditional asphalt construction. "The cost and speed of construction is adistinctadvantage over concrete roads and even asphalt. "The cost to maintain an Envirotac II stabilised road is only about 20% of the original cost. Depending on traffic volume maintenance can be yearly or within three to five years of constructing the road," says Vincent. Essentially, Envirotac II makes the stabilised road waterproof and dust free and can cater for heavy haul traffic. Envirotac II stabilised roads are all weather roads with excellent traction even during heavy rains. Vincent says no stones are used in constructing an Envirotac II stabilised road making it easy to construct roads in rural and areas far from a quarry. He adds the projects undertaken are mostly roads but the company was also using Envirotac II for slope stabilisation, especially in the light of Malaysia's heavy rainfall and soil erosion in the difficult terrain. "Smart Construction Solutions has appointed Akar Indah Sdn Bhd as our agent for the government sector in Malaysia," he says. |
| FAA approves Boeing Dreamliner battery system design Posted: 19 Apr 2013 06:14 PM PDT ATLANTA: U.S. regulators on Friday approved a revamped battery system for Boeing Co's 787 Dreamliner, a crucial step in returning the high-tech jet to service after it was grounded in January because the plane's lithium-ion batteries overheated. The Federal Aviation Administration approval of design changes allows Boeing to immediately begin making repairs to the fleet of 50 planes owned by airlines around the world. Other global regulators must approve Boeing's design for repairs outside the United States, but were expected to act quickly now that FAA had given its blessing. The FAA action all but ends a grounding that has cost Boeing an estimated $600 million (393.9 million pounds), halted deliveries and forced some airlines to lease alternative aircraft. Several airlines have said they will seek compensation from Boeing, potentially adding to the plane maker's losses. The agency also said the jet retained permission to fly up to 180 minutes over remote areas and oceans once U.S. regulators allowed the Dreamliner to return to the skies. There had been talk of scaling back the approved range, known as ETOPS, which would have limited the use of the fuel-efficient jet. Boeing Chief Executive Jim McNerney said the 787's promised benefits "remain fully intact" and reaction in the industry was joyous. FLYING AGAIN IN DAYS? "We're back in business, baby!" tweeted the Washington Aerospace Partnership, a group of business, labor and local government leaders supportive of Boeing. "This is a good step forward," United Airlines said in a statement. United is the only U.S. carrier with 787s and plans to add them to its schedule starting May 31. Plans to launch service from Denver to Tokyo Narita are set for June 10, but depend on completing the modifications by then, it added. In theory, the planes could be carrying passengers again within a week. Boeing said it takes five days to refit each jet and that no regulatory barrier prevents airlines from putting planes into service after the work is finished. In practice, however, airlines typically perform "check flights" before carrying passengers, Mike Sinnett, chief 787 program engineer, told a news conference Friday. With 10 teams already in place around the world and Friday's approval to begin work, installation could move quickly and then "it's up to the airlines" when they begin using the plane, Sinnett said. The FAA said it will issue an "airworthiness directive" next week that formally lifts the U.S. ban on passenger flights. Earlier Friday in Tokyo, Japan's Transport Minister said the 787 review was very near completion, but it was unclear how quickly the plane could resume passenger service there. Nearly half of the planes in service are owned by Japanese carriers. Mark Rosenker, who headed the National Transportation Safety Board under President George W. Bush, said the FAA clearly believed that Boeing's proposed changes would avert further problems. "It should give the flying public a sense of safety and reliance and well-being," said Rosenker. He said he expected airlines to resume flying the planes in May. COSTS STILL UNCLEAR Much of the design change in the battery system already is well-known, thanks to Boeing's detailed descriptions of the system to customers, legislators and media. Before the planes can fly, they must be fitted with a "containment and venting" system for both lithium-ion batteries on the 787, the FAA said. That includes a stainless-steel enclosure to prevent heat, fumes or fire from spreading if a battery overheats in flight. Batteries and battery chargers must also be replaced with different components, the FAA said. Boeing also will install the new system on planes produced since the grounding that were barred from being delivered. "They're running out of space on the tarmac," outside the factory near Seattle, said Congressman Rick Larsen, a Washington Democrat who has the factory in his district. He said Boeing expects it will take five or six months to clear that backlog. He said he did not have a problem with the FAA approving the fix before the NTSB holds a hearing on it next week, since accident investigations often take longer than regulatory action. "There's a lot more we need to learn about lithium-ion batteries and technology," he said. Sinnett said Boeing still expected to deliver all of the Dreamliners it had planned this year. The company has been conducting flight tests of the new planes so they can be delivered quickly when the new systems are installed. But costs remain unclear. Boeing has not put a dollar figure on the battery crisis, but some analysts estimate it cost $50 million a week. Others said that seemed high. Richard Aboulafia, aviation analyst at Teal Group, said Boeing also faced claims from airlines for the grounding, which would compound the much-higher-than-expected cost of launching the new aircraft. Boeing had expected to spend about $4 to $5 billion on the new composite plane, but the cost was now closer to $20 billion, he said. "This has just been another increment of pain on top of a whole lot of other pain," Aboulafia said. Nevertheless, Boeing's stock rose 2.1 percent Friday to $87.96, and has gained 18.3 percent since the 787 was grounded on January 16. In approving the change, the FAA is indicating that it believes Boeing's fix is adequate to address the risk of fire on the plane. However, the NTSB continues to investigate what caused a battery to catch fire on a Japan Airlines plane that was parked at the airport in Boston. A second battery overheated during an All Nippon Airways flight in Japan a few days later, prompting regulators to ground the Dreamliner. The NTSB, the top U.S. transportation investigator, is still investigating what caused the Boston fire. Boeing has said its redesign addresses more than 80 potential causes, and therefore is more rigorous than if a single cause had been found. The NTSB said Friday it would call officials from the FAA and Boeing, including Sinnett, to testify, along with people from Thales SA of France, which makes the battery system, and GS Yuasa Corp of Japan, which makes the battery. Asked Friday why Boeing trusted engineering assumptions that were proved wrong by events, and why Boeing or the public should trust them now, Sinnett said the company had learned to be more conservative in testing batteries, and applied that to the new system. He said the NTSB hearings next week would look into the question of whether the original system should have been safer. As for other "unknown unknowns" that may lurk in the plane, he said, "There will be some significant special attention given to this and what we have learned from it." - Reuters |
| Dell shares at two-month low after Blackstone pulls out Posted: 19 Apr 2013 06:12 PM PDT NEW YORK/SAN FRANCISCO: Shares in Dell Inc Its withdrawal eases the way for founder Michael Dell and Silver Lake to go ahead with a $24.4 billion deal to take the company private for $13.65 a share, in what would be the largest private equity-led buyout since the 2008 financial crisis. Dell's stock fell 4 percent to close at $13.40, below that original offer price and the lowest level since February 6. On Friday, Dell said its special committee, set up to review competing offers, was continuing discussions with both its billionaire founder and the other bidder, activist investor Carl Icahn, and still saw a deal closing by the fiscal second quarter. The bid by Silver Lake and Michael Dell, however, has aroused the ire of major investors, including top independent shareholder Southeastern Asset Management, who complain that the offer undervalues the company. Blackstone initially offered $14.25 a share. Icahn, who has taken a significant stake in the company, remains in the running and has proposed $15 per share for 58 percent of Dell. It is unclear how Southeastern would respond. The fund management firm declined to comment. Icahn, who is known for aggressively pushing for changes at companies he invests in, did not respond to requests for comment. But the Wall Street Journal cited a source "familiar with his thinking" as saying the billionaire investor will wait to see how shareholders vote on Michael Dell's bid. If they reject his offer, Icahn would consider launching a hostile bid, the Journal cited the unidentified source as saying. "I don't feel comfortable one bit that shareholders are getting a fair price," Don Yacktman, president of Austin, Texas-based Yacktman Asset Management, told Reuters on Friday. Yacktman, whose firm owned 14.91 million shares of Dell, or a slightly less than 1 percent stake in the company as of December 31, said that while he is disappointed that Blackstone pulled out of the bidding, he is hopeful that Icahn's presence in the process will result in a better deal for shareholders. "I would obviously like to see more players, but Dell still has to deal with Carl Icahn and Icahn can be a tough guy to deal with." A PRIVATE DELL Blackstone's abrupt withdrawal a mere month after launching its bid is the latest twist in an increasingly complicated tussle over Dell, which began with a February announcement of Michael Dell's proposal to take his company private. The self-made billionaire wants to take the company he founded in 1984 in a college dorm-room off public markets, hoping to transform it into a provider of enterprise computing services away from investor scrutiny. But shareholders complain such a deal deprives them of a chance to share in the future benefits of a successful overhaul. "By being private, Dell can make many more strategic decisions, particularly around pricing to grow and upsell into its customer base," Um wrote on Friday. "Being private also takes the customer discussion away from the operations of the company ... and will allow the company to focus on its products and solutions." Some analysts have wondered whether Dell, which in the past decade has steadily ceded ground to its rivals in the global market, is as attractive a buyout target as a three-way battle would suggest. Personal computer sales plunged 14 percent in the first three months of the year, the biggest decline on record, as tablets continued to gain in popularity and buyers appeared to be avoiding Microsoft Corp's Dell was hailed as a model of production innovation as recently as the early 2000s, pioneering online ordering of custom-configured PCs and working closely with Asian component suppliers and manufacturers to assure rock-bottom costs. As of 2013's first quarter, its share of the global PC market had slipped to 11.8 percent, behind Hewlett Packard Co |
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