Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
HRBN...Thanks jtomm. The e-mail confirms Baldor's continued relationship w/ HRBN. Baldor is a minority shareholder in the venture and has always viewed this as long term....
“The other problem you get into is you are always chasing low labor costs,” Tucker said. “First, it might be Mexico, but as wages come up then you go somewhere else, Korea or China, but you’re always chasing that low-wage rate.”
No chasing is involved with Baldor’s recent joint venture with Tech.Full Electric Co. in Harbin, China.
“Our strategy is a little different in that the manufacturing we will do there is for the Chinese market,” Tucker said. “None of those motors will come back to the U.S.”
Furthermore, Tucker said the company hopes that having offices and manufacturing there will lead to the increased export of their U.S.-made motors to China and help future sales in that country.
Problems with unstable electric power service in China makes it a ripe market for electric generators.
Baldor will assist Tech.Full with design technology, manufacturing technology and the creation of nationwide sales network in China for linear motors. Baldor also has become a minority shareholder in the Chinese company.
While agreeing that it was an “atypical” arrangement, Labick said it is a “very low risk proposition for them financially.”
What is typical for Baldor is thinking about the long-term, and Labick said that’s where the joint venture will pay off.
http://www.swtimes.com/archive/2004/August/08/business/baldor.html
wadegarret, Re: HRBN...The original delivery mentioned in the PR was a first and were samples. Maybe that's why it's hard to find info. The 800 motors are for this month.
I've never contacted Cummins.
This is from Cummins web page...
"Cummins has been active in East Asia since 1975, and has now developed into a business with 20 wholly owned & joint venture companies and offices.
Eight different engine families are produced in China, with a power range from 100 to 2000 hp and sales into a full range of applications including power generation, automotive, construction & mining, railway, marine and oilfields."
If I find more info, I'll post it.
HRBN will also be presenting next week in Japan at the the Fifth International Symposium on Linear Drives for Industry Applications on Sept 27th. Their presentation is titled "Control System Design of Superconducting Linear Driver for Electromagnetic Launch" under the header "Transportation".
http://www.ee.maritime.kobe-u.ac.jp/ldia2005/
HRBN...800 motors to be completed this month for U.S. Cummins...
Here's a repost of last month Harbin/Cummins PR...
Harbin Electric Makes First Delivery of Batch Samples to U.S. Cummins Power Generation This Week
Tuesday August 2
HARBIN, China, August 2 /Xinhua-PRNewswire/ -- Harbin Electric, Inc. (OTC Bulletin Board: HRBN - News; http://www.harbinelectric.com ), a U.S. based high-tech company that produces linear and special motors targeting the fast- growing Chinese market, announced today its first delivery of 162 samples of five different models to U.S. Cummins Power Generation this week after seven months of preparation, trial production and testing. 800 motors will be completed in September. Now, Cummins is commissioning the company to develop and manufacture cylinder single-phase linear asynchronism motors of total 28 models of six families.
''We are pleased with the coming contract from U.S. Cummins. It is a milestone for our company in entering the international market and exploiting a more extensive market. According to our letter of intent with Cummins, quantity production and supply are expected in the fourth quarter this year. We are looking forward to a strong revenue growth this year,'' commented Yang Tianfu, Chairman and CEO of Harbin Electric.
About Harbin Electric, Inc.
Harbin Electric, Inc. is a high tech company in the linear and special motor industry targeting the Chinese markets. Linear motors use the principles of magnetic properties to induce linear forces and represent a significant improvement over traditional electric motors based on design, energy efficiency and precision movement. The company owns independent intellectual property rights in manufacturing all these products.
MXBIF...SIZE finally dropped off the ask. Sat at $23.51 for the longest time. It'll be interesting to see if the share price starts heading back up.
MXBIF, (kyk2001)...Just went back and read MFC's Q2 report again and they sure put a lot of emphasis on KHD Humboldt Wedag. My gut (along w/ their current EPS) tells me, this is a sound investment. We should hear more on the name change in approx 3 weeks....
From Q2 report...
The recent growth of the Company is clearly tied to its core asset, KHD Humboldt Wedag GmbH ('KHD"). The Board of Directors and Management recognized this as a true shift in the core business of the Company from financial services to industrial and engineering services. Consequently, the Board, through its task force committee, undertook and completed a comprehensive study to evaluate alternatives for continued long-term growth and enhancement of shareholder value.
The Board also undertook an in-depth review of the Company's risk profile at present and in the foreseeable future, which was completed during July 2005.
Based on reports of independent industry analysts, the market for cement (which is the primary driver for KHD's technology) is forecast to grow from 1.75 billion tonnes in 2003 to 2.35 billion tonnes by 2015. Almost three quarters of this increased demand is expected to come from Asia and Eastern Europe of which the strongest growth is forecast for China and India. The Company has concluded that recurring earnings, with growth potential, is possible from this business segment.
The two world economies with the greatest growth potential are China and India. KHD has an operating history of more than 20 years in China and over 40 years in India.
The number of attractive current and near-term financial services project opportunities within the Company's risk profile has become much more limited in recent times.
Therefore, the greatest potential for the Company's shareholders is to capitalize on the growth opportunities associated with the expansion of the Company's China and India operations, with emphasis on the industrial and engineering business of KHD. The Company believes that the change in its core operations will make it easier for the market and investors to evaluate its potential for growth. The Company may also decide to improve financial standing and range of investments with other businesses and opportunities.
KHD, founded in 1856, is a world leader in supplying proprietary technologies, equipment and engineering services for cement, coal and minerals processing. It designs and builds plants that produce and/or process clinker, cement, beneficiated coal, base metals and precious minerals. Headquartered in Cologne, Germany, KHD has in excess of 900 employees worldwide, with operations in India, China, Russia, the Middle East and the United States.
Humboldt Wedag India was established in 1964 and currently has a staff of over 270 working in the cement, coal and minerals sectors. The Company has recently expanded its operations in China with the establishment of a 70 percent owned engineering and manufacturing subsidiary, Tianjin Humboldt Wedag Liyuan Machinery & Technology Ltd., in Tianjin, China. KHD is now able to offer its technologies and products to the Chinese and other Far East markets through these lower-cost platforms.
The Company presently employs approximately $210 million of its total assets in KHD's operations and has now decided to deploy its excess capital and proceeds from the sale of redundant assets to enhance the growth at KHD. The Company will also pursue an active acquisition program to acquire other companies that will complement its operations and allow for greater diversity.
MFC Bancorp Ltd. will call a special shareholders' meeting for October 11, 2005 to change its name to KHD Humboldt Wedag International Ltd. in order to better reflect its new emphasis for the future and will seek an additional listing of its common shares on an Asian stock exchange.
KHD's order intake has continued to accelerate to approximately $219 million for the first six months ended June 30, 2005, as compared to approximately $325 million for the full year 2004 and $180 million in 2003. Order backlog stood at approximately $352 million as of June 30, 2005, compared to $257 million at the end of 2004 and $131 million in 2003. Order intake is defined as the total of all orders which are received during the respective period, while order backlog is defined as the amount of orders received but not yet fulfilled (for easy comparison, all amounts were translated from Euros to US$ at 1.3536, the exchange rate prevailing on December 31, 2004).
As of June 30, 2005, the Company's balance sheet had total assets of $483.4 million and shareholders' equity of $231.8 million, with cash and short-term securities totaling $177.4 million and working capital of $182.5 million and long-term debt (less current portion) of $9.2 million. The book value per share was $17.01.
Michael Smith, President, commented, "We have reviewed our operations in depth, and believe the highest return for our shareholders will be with the expansion of KHD and a greater focus on the Asian markets."
MXBIF...Here's some interesting info...
MFC Bancorp Ltd. acquired an additional 11% of Sasamat Capital Corporation. The news was released yesterday on this web site...
http://www.sedar.com/csfsprod/data60/filings/00833649/00000001/k%3A%5CDATA%5CSEDAR%5C769839.pdf
http://www.sedar.com/csfsprod/data60/filings/00833649/00000001/k%3A%5CDATA%5CSEDAR%5C769142.pdf
MFC Bancorp now owns directly and indirectly, 3,957,969 common shares of Sasamat, which represents 50.5% of Sasamat's outstanding common stock.
I think this has to do with taking control of KHD Humboldt Wedag.
It's kind of a tangeled web, so I can use some help here. Anyone intersted in MXBIF should go to the yahoo board and read the last 20 posts.
Here's some other interesting info..."MedNet is wholly owned by MFC Bancorp Ltd. Group...
http://www.mednet.com.cn/en/index.asp
Bought more today!
FTK is 1 day away from making it to "Buying Imminent" on the naked short list!!!
http://www.buyins.net/tools/short_list.php?ssd=20050920
Flotek set a new all-time high this morning!!!!!!!
FTK, Re: Flotek's Petrovalve...
Notes on the Petrovalve from the Aug 11, 2005 EnerCom presentation...
Downhole production has been a small portion of Flotek's business, but that's going to change....
Until now, they have not paid much attention to the marketing of their patented downhole pump rod valve because they had to do some engineering to get the product in good shape. They did that in the later part of '04 and the beginning of this year. They now consider it an excellent piece of equipment.
The value of the patented downhole pump rod valve is that it is a guided piston and a guided valve. It has a number of designs that makes it extremely valuable to the producer...
1. Can increase the flow per stroke by as much as 40%.
2. Because it is a guided unit, they are seeing more & more production in horizontal holes.
More & more people are beginning to use it. Now using it in Russia and Venezuela.
FTK...Flotek Industries Signs Exclusive Agreement for Petrovalve Production Valves.
Tuesday September 20, 6:00 am ET
HOUSTON, TX--(MARKET WIRE)--Sep 20, 2005 -- Petrovalve Inc., a subsidiary of Flotek Industries, Inc. (AMEX:FTK - News), signed an agreement with Don-Nan Pump and Supply located in Midland, Texas. Don-Nan will have the exclusive right to install the patented Petrovalve Plus and Gas Breaker valve products in their rod pumps. Don-Nan manufactures and markets quality downhole sucker rod pumps to the oil and gas production industry.
Don-Nan will begin installing the Petrovalve Plus and Gas Breaker valve products in their sucker rod pumps, providing oil and gas producers a unique rod pumping system in terms of efficiency and performance. The patented guided design of the Petrovalve allows the pump chamber to completely fill on every up-stroke of the pumping unit, regardless of pump position in the well. The ability to fill completely in both the vertical and horizontal position provides a distinct advantage in pump placement in deviated and horizontal wells.
Don-Nan Pump & Supply Company (www.don-nan.com) was founded by Vernon Carruth in 1962 and currently operates in nine locations within Texas, Colorado, Wyoming, and New Mexico. Current operations include manufacturing and machining capability (Midland) along with sucker rod pump repair and sales.
Chairman and CEO, Jerry D. Dumas, Sr. remarked, "This is another step in our mission to provide our customers improved artificial lift solutions to enhance production."
Flotek is a publicly traded company involved in the manufacturing and marketing of innovative specialty chemicals, downhole drilling and production equipment, and management of automated bulk material handling, loading and blending facilities. It serves major and independent companies in the domestic and international oilfield service industry.
N_C3, Re: FTK...
FTK set a new all time high today, and they're still on the naked short list. Gotta love it...
http://www.buyins.net/tools/short_list.php?ssd=20050916
MXBIF...Not only are they going to rename themselves KHD Humboldt Wedag, but they also have plans to list on an Asian exchange. Huge potential here IMO!
kyk2001, have you seen their latest contracts?...
http://www.investorshub.com/boards/read_msg.asp?message_id=7719797
FTK...More exposure for FTK...
Jim Oberweis highlights Flotek
http://home.businesswire.com/portal/site/moreoveruk/index.jsp?epi-content=GENERIC&newsId=2005091...
MXBIF...MFC Bancorp LTD Appoints Indrajit Chatterjee to Board of Directors
Friday September 16, 7:30 am ET
HONG KONG, Sept. 16 /PRNewswire-FirstCall/ -- MFC Bancorp Ltd. (the "Company") (Nasdaq: MXBIF; Frankfurt Stock Exchange: MFC GR) is pleased to announce the appointment of Mr. Indrajit Chatterjee as a member of the board of directors. Mr. Chatterjee, 60, is a retired Indian businessman who was formerly responsible for marketing with the Transportation Systems Division of General Electric for India. Mr. Chatterjee brings a wide array of business experience to the Company's Board, especially dealing with Indian governmental issues.
Mr. Chatterjee replaces Stefan Feuerstein who has resigned from the Board to pursue other opportunities with an affiliate of the Company.
Michael Smith, President, commented, "We are very pleased to welcome Mr. Chatterjee. His broad experience with public companies and, in particular, in India, where our operations are growing substantially, makes him a valuable addition to the Company. We would also like to take this opportunity to thank Dr. Feuerstein for his years of hard work with the Board of Directors and wish him well in his new business venture."
About MFC Bancorp
MFC Bancorp Ltd. owns companies that operate internationally in the engineering services industry, and specializes in industrial and engineering services, merchant banking and commodities trading. To obtain further information on the Company, please visit our website http://www.mfcbancorp.com.
MXBIF, (researcher59)...
Looking good...
What's the skinny on IDWS? Think I first read about the company on this or the VM board. Down to $0.13. Is this a good time to buy? Is the company for real? Said they'll have an eps of $0.21 - $0.23 for y/e June 30, 2006.
abh3vt, Re: NAUG...Looks like they offer the financing and carry the paper. This is from their web page..."NowAuto finances the vehicles it sells. Automobiles will be financed to sub-prime credit borrowers at a rate of 29.99%."
http://www.nowgps.com/
NAUG, (istockguy)...Their in house financing at 29.99% looks like huge profit for the company. If a customer defaults on the loan, they know right where to go to repo the vehicle. Great concept since there's lots of crap credit out there. I would imagine this type of financing will spread throughout the auto industry. There's also good profit in used cars. I read on their web page that NAUG expects its number of loans to more than double in 2006 through internal growth and acquisitions.
HRBN had two 95k block trades this morning. One at $3.73 and one at $3.75. The stock price went right back into the 4's after the trades. Interesting.
MXBIF, Re: Backlog, (researcher59)...Here's a list of KHD Humboldt's current contracts. The increase in backlog #'s mentioned in MXBIF's recent earnings PR was ONLY as of June 30, 2005 and did not include August....
CHINA
AUGUST 2005: Sichuan Ya-Dong Cement Co. and Jiangxi Ya-Dong Cement Co., PR China, have awarded KHD Humboldt Wedag, Germany orders for the engineering and supply of two new production lines, each with a designed capacity of 4200 tpd clinker. The Chinese plants are members of the Asia Cement Group, Taiwan.
INDIA
AUGUST 2005: KHD Humboldt Wedag, and its Indian subsidiary Humboldt Wedag India Ltd, has won the order for engineering and supply of the cement mills for Jaypee Cement’s 10 000 tpd kiln line. The contract comprises three identical clinker grinding plants. Two systems will be installed at the Baga plant and one system for a new clinker grinding terminal at Panipat.
IRAN
AUGUST 2005: Zaveh-Torbat Cement Co., Mashad, Khorassan recently placed an order with KHD Humboldt Wedag for engineering and supply of core components and equipment for a new cement production line with a capacity of 1.0 million tpa. Additionally KHD will supply drawings and technical data for local manufacturing and sourcing, for which the client is in charge.
LEBANON
AUGUST 2005: Cimenterie Nationale S.A.L. recently awarded ZAB-Industrietechnik & Service GmbH in Dessau, a subsidiary of KHD Humboldt Wedag an order for the capacity increase of its clinker production line IV from 2000 to 3800 tpd clinker. Assignment of the electrical equipment, the civil and steelwork, as well as the complete erection will be carried out by the client.
TURKEY
AUGUST 2005: Bolu Cimento Sanayii A.S., Turkey, member of the OYAK-Group, has awarded KHD Humboldt Wedag the contract to modify its clinker grinding plant. A roller press/V-separator pregrinding sytem will be installed in front of the existing cement mills 1 and 2 and will be operated as a semi-finish grinding system.
USA
JUNE 2005: Eagle Materials Inc., headquartered in Dallas, Texas, will be receiving the Loesche Slide-In Mill® at their plant located in La Salle, Illinois. The plant upgrade project is being contracted to KHD Humboldt Wedag
INDIA
JUNE 2005: Grasim Industries Ltd, member of the Aditya Birla Group, India has awarded Humboldt Wedag India Ltd and its holding company, KHD Humboldt Wedag GmbH, Germany the contract for engineering and supply of a new 1 million tpa clinker grinding plant. The plant will be erected at Dardi/Uttar Pradesh, with a capacity of 175 tph of PPC cement of fineness 3800 cm2/g Blaine.
INDIA
MAY 2005: Humboldt Wedag India Ltd and its holding company, KHD Humboldt Wedag AG, have been awarded the contract for engineering and supply of a new 0.5 million tpa clinker grinding plant by Chettinad Cement Corporation Ltd (CCCL), India. The plant will be erected at CCCL´s Karikalli cement plant at Karikalli village of Dindigual District in Tamil Nadu.
http://www.worldcement.com/Cement/WC_contractsList.htm
sleestack76, Re: HRBN...
I see you have HRBN as one of your pick 6, so you've been in it for a while. Good for you. I didn't take notice of this company until a few weeks ago when their 10Q was released and I read twoggle's post. (Still was able to buy in the very low 3's).
I like HRBN's potential. Can't help but think the lid's going to blow off this thing before the end of the year.
Do you think they'll list on a major exchange? Are there any plans in the works that you know of, regarding another listing?
niles_crane3, Re: FTK...
Would have been nice if the Oberweis Report had the right stock symbol and exchange for Flotek.
Anyway, I just came across an article that confirms the hurricane did not do much damage to the town of Raceland, Louisiana, where the material translogistics unit of Flotek's Specialty Chemical and Logistics segment is located. (Jerry said the plant only incurred minimal damage).
Good news for Flotek! The article came out yesterday...
"Raceland, about 45 miles south of New Orleans, didn't suffer heavy damage in the storm. It has functioning showers, toilets and electricity"
http://seattletimes.nwsource.com/html/localnews/2002482284_katrinaanimals09m.html
Thanks Bobwins. That makes sense.
CPNO (natural gas)...Bobwins, researcher59, or ? What do you think of CPNO? They don't have many shares outstanding and they've been paying a healthy dividend...
Copano Energy, L.L.C., through its wholly owned subsidiaries, provides midstream energy services in the south Texas and Texas Gulf Coast regions. The company operates in two segments, Copano Pipelines and Copano Processing. The Copano Pipelines segment engages in gathering and intrastate transmission of natural gas. It also offers related services, including compression, dehydration, and marketing of natural gas. As of March 31, 2005, Copano Pipelines segment comprised a series of gathering and intrastate transmission systems totaling 1,367 miles of pipelines. The Copano Processing segment engages in natural gas processing, conditioning, and treating; and natural gas liquids fractionation and transportation. The company is headquartered in Houston, Texas.
http://finance.yahoo.com/q?s=CPNO
Twoggle...
Thanks for bringing HRBN to the VM board.
HRBN...Up over 29% yesterday on NO NEWS!!! New 52wk High!! Hope it continues. I hold a good position in HRBN, and have no intentions of selling any time soon! Looking forward to good gains in revenue, eps, and share price. We'll see what happens...
http://www.investorshub.com/boards/read_msg.asp?message_id=7493346
http://www.investorshub.com/boards/read_msg.asp?message_id=7627896
http://www.investorshub.com/boards/read_msg.asp?message_id=7587015
MXBIF...Started inching up the last 2 days. Earned $0.98 last quarter. Changing name to KHD Humboldt Wedag next month with a possible listing on an Asian exchange. KHD recently announced a new product called "The Great PYROFLOOR Cooler"...http://www.humboldt-wedag.de/pdf/ICR_TheGreatPyrofloorCooler_200506.pdf
Here's a list of their latest contracts...
http://www.investorshub.com/boards/read_msg.asp?message_id=7417132
FTK...Mentioned today on Forbes under "Small-Cap Inflation Fighters". (It'd be nice if they could get the symbol and the exchange right)
-- Invest in energy. Ideally, find companies with growth drivers above and beyond the industry's momentum. Our favorites are Carrizo Oil & Gas (nasdaq: CRZO - news - people ), Bronco Drilling (nasdaq: BRNC - news - people ), Flotek Industries (otcbb: FLTK - news - people ), Dril-Quip (nyse: DRQ - news - people ), Dawson Geophysical (nasdaq: DWSN - news - people ) and Patterson-UTI Energy (nasdaq: PTEN - news - people ). If you are underexposed to energy, look for a short-term dip as an opportunity to add. We think oil stocks might drop in the short term but will provide favorable returns to investors over the next couple of years.
http://www.forbes.com/investmentnewsletters/2005/09/09/flotek-dawson-newmont-cz_jo_0908soapbox_inl.h...
FTK is on the naked short list? LOL!! Institutions are buying and MM's are shorting? I may have to pick up a few more shares. Sooner or later they'll cover. They'll have to!http://www.buyins.net/tools/short_list.php?dys=1
MVCO is also new to the list.
FTK...
New All Time High $19.40
FLOTEK
HRBN....Looks like Harbin's CEO will be presenting at the the Fifth International Symposium on Linear Drives for Industry Applications on Sept 27th under the header TRANSPORTATION. (Maybe an update on the automobile motor?) HRBN's presentation is titled "Control System Design of Superconducting Linear Driver for Electromagnetic Launch".
Click on Schedule and Program and then on Technical Program. Scroll down towards the bottom of the page. Harbin Tech-Full (HRBN's joint venture w/ Baldor Electric), is #L27P5-5...
http://www.ee.maritime.kobe-u.ac.jp/ldia2005/
Looks like HRBN's CEO will be presenting at the the Fifth International Symposium on Linear Drives for Industry Applications on Sept 27th under the header TRANSPORTATION. The presentation is titled "Control System Design of Superconducting Linear Driver for Electromagnetic Launch".
Click on Schedule and Program and then on Technical Program. Harbin Tech-Full (HRBN's joint venture w/ Baldor Electric), is #L27P5-5....
http://www.ee.maritime.kobe-u.ac.jp/ldia2005/
HRBN...Board & Management...
Some of these guys have excellent backgrounds in their field. Just something to stew on...
Board & Management...
Yang Tianfu: Chairman CEO
Since August 2004, Tianfu Yang has been Chairman of the Board and CEO of Tech Full International, Inc., a Delaware corporation. From May 2000 until the present he has been Chairman of the Board and CEO of Harbin Tech Full Electric Co., Ltd., a wholly owned subsidiary corporation of Tech Full. Harbin Tech Full Electric is organized under the laws of the People's Republic of China. Tech Full and Harbin Tech Full Electric are engaged in the business of developing and distributing linear motors. From 1986-1988, he was President of Helongjiang Cultural Development Company and Guangzhou Subsidiary Company.
Mr. Yang graduated from Zhejiang University with a Masters degree in Electric Motor Automation and Control. From 1978 to 1979, he was a professional member in the Heilongjiang Province Aeromodelling Team, twice becoming free-style aeromodelling champion in national competition. Mr. Yang is currently the commissioner of the China Electro-Technical Society (CES) in the Linear Motor and Electromagnetism Eradiation Specialist Committees. Mr. Yang is also the People's Representative of the City of Harbin.
Xu Suofei: Vice-President & Board Member
Since August 2004, Mr. Xu has been Vice President and a director of Tech Full International, Inc., a Delaware corporation. From June 2003 until the present, he has been Vice President and a director of Harbin Tech Full Electric Co., Ltd., a wholly owned subsidiary corporation of Tech Full. From 1991-1997, Mr Xu worked as the Section Chief for system allocation reform of the Harbin Economic System Reform Committee. From 1997-2001, he worked at Guangfa Securities Co., Ltd as a project manager, and from 2001-2003, he was an investment manager for Shenzhen Chuangxin Investment Group. Mr. Xu graduated in 1988 from FuDan University with a BA in Law.
Chan Ching Chuen: Board Member, Chairman of Nominating Committee
Chan Ching Chuen is an Honorary Professor at Hong Kong University's Department of Electrical and Electronics Engineering.
1976- Present: earned many professorships in honorary, visiting and guest roles at world renowned institutions such as University of Hong Kong, Imperial College, London, Zhejiang University, Grenoble Polytechnic, France, Massachusetts Institute of Technology, USA and Tsing Hua University, Beijing among others. He is a Fellow of the Royal Academy of Engineering, U.K., the Chinese Academy of Engineering, the Ukraine Academy of Engineering Sciences and a Fellow and Vice President of Hong Kong Academy of Engineering Sciences. He is also a Fellow of IEEE, IEE and HKIE lecturing on electric vehicles worldwide and in 2000 was awarded the IEE International Lecture Medal. In 2001 he was selected as one of Asia's Best Technology Pioneers by Asiaweek. During his career, Mr. Chan has advised on various consultancy projects for large corporations such as Ford Motor Company, Honda R & D Co Ltd., National Institute of Environmental Studies, Japan, Sumitomo Corporation and Mitsubishi Electric Corporation as well as serving as advisor to government agencies and active in the National Committee of Chinese People's Political Consultative Conference.
Mr. Chan graduated from Tsing Hua University in 1959 with an MSc in Electrical Engineering later achieving his PhD in 1982 from University of Hong Kong.
1959-1966: Mr. Chan started his career lecturing at China University of Mining & Technology, from 1967-1976: Chief design Engineer post at the Shanghai Electric Machines Works.
Patrick McManus: Board Member, Chairman of Audit Committee
Mr. Patrick McManus, Age 49. CPA, J.D. Mr. McManus joined HRBN's Board of Directors on January 5, 2005 as an independent board member. Mr. McManus brings over 25 years of experience in business, finance and law to HRBN. He was elected Mayor of the City of Lynn, Massachusetts in 1992 and served in this position until his retirement to the private practice of law and accounting in 2002. While serving the City of Lynn as its Mayor, he was elected a member and trustee of the Executive Committee of the U.S. Conference of Mayors (USCM) with responsibility for developing policy for the USCM. He also served as the Chairman of the USCM Science and Technology Subcommittee, the Urban Water Council, and the USCM Audit Committee. Mayor McManus started his career in business with the General Electric Company (NYSE: GE) in 1979, and was a Professor of Business and Finance at Salem State College in Massachusetts. Mayor McManus is an expert on China. He was instrumental in establishing a close alliance as well as coordinating a regular exchange of visits by members of the U.S. Conference of Mayors and the China Association of Mayors. Mr. McManus has been a Certified Public Accountant since 1985. Mr. McManus received his Juris Doctorate from Boston College Law School and an M.B.A from Suffolk University.
David Gatton: Board Member, Chairman of Compensation Committee
Mr. David Gatton, Age 51. Mr. Gatton joined HRBN'S Board of Directors on February 1, 2005 as an independent board member. Since 1985 Mr. Gatton has served as the Chairman and President of Development Initiatives, Inc, a Washington, D.C.-based government relations firm specializing in urban affairs, business development and marketing, serving a variety of public and private clients. Mr. Gatton advises cities, organizations, and companies on business development strategies, public/private partnerships and marketing initiatives. He has advised various organizations on tax reform, economic development initiatives and a variety of environmental laws, including the reauthorization of the Clean Water Act, the Safe Drinking Water Act, the Resource Conservation and Recovery Act, Superfund and the Clean Air Act. Some of Mr. Gatton's major accomplishments include: development of U.S.–Sino Memorandum of Cooperation between U.S. and China Association of Mayors, development of a national brownfield redevelopment initiative, development of several multifamily low- and moderate-income housing developments, business development strategies for various private firms, and assistance in development of economic development projects for numerous cities. Mr. Gatton holds a B.A. from Cornell College, and a Master's degree from Harvard University.
Yang Tianli: Vice-President
Since August, 2004, Tianli Yang has been Vice President and a director of Tech Full International, Inc., a Delaware corporation. From May 2000 until the present, he has been Vice President and a director of Harbin Tech Full Electric Co., Ltd., a wholly owned subsidiary corporation of Tech Full. Tianfu Yang and Tianli Yang are brothers. From 1985-2000 he was employed in the China State Construction Engineering Corporation (CSCEC), in various positions, including post of Chief Administration Officer. Mr. Yang graduated from Helongjiang University in 1985 with a BA in Chinese Language & Literature.
Xu Zedong: Chief Financial Officer
Since August 2004, Mr. Xu has been Chief Financial Officer and a director of Tech Full International, Inc., a Delaware corporation. From May 2000 until the present, he has been Chief Financial Officer and a director of Harbin Tech Full Electric Co., Ltd., a wholly owned subsidiary corporation of Tech Full. From September 1998 to 2000, he was employed as the Chief Financial Officer for Harbin WanDa Electrical home appliances. From 1996 to 1998, Mr Xu worked as a financial manager for Harbin High Technology Torch Daya Real Estate Co,.Ltd. Mr. Xu Zedong is a qualified CPA under China's accountancy program. He graduated in 1992 from Harbin Electrical Engineering College with a BA in Project Management.
Ye Yunyue: Chief Technical Advisor
Since August 2004, Mr. Ye has been a technical consultant and a director of Tech Full International, Inc., a Delaware corporation. From October 2004 until the present, he has been a technical consultant and a director of Harbin Tech Full Electric Co., Ltd., a wholly owned subsidiary corporation of Tech Full. Having graduated from ZheJiang University in 1978, he is currently a professor in Electrical Engineering at the same institution for more than the past five years. Mr. Ye is secretary of Linear Motor Association, Director of the Space Electric and Electric Motor Institute of ZheJiang University and Director of the Linear Electric Motors Technology Center of China.
http://www.harbinelectric.com/asp/aboutus/managementteam.asp
HRBN just announced a Private Placement. IF, (and that's a big if), they use the PP $ to acquire a company that develops motors and electrical products for vehicles, like they talked about in a recent PR, I think the stock might pop, especially at a time with oil & gas at an all time high...."Now that we have passed the TS16949: 2002 authentication, we will immediately enter the automobile motor and electric markets according to our company's growth strategy to implement the company's initiatives on acquisitions and development of various motors and electric products for vehicles. This will further expand our company's markets and bring even more value to our shareholders," commented Yang Tianfu, Chairman and CEO of Harbin Electric."
http://biz.yahoo.com/prnews/050802/cntu009.html?.v=7
Here's the PP news...
On August 31, 2005, Harbin Electric, Inc. (the "Company") entered into Securities Purchase Agreements (collectively, the "Purchase Agreements") with institutional investors and other accredited investors (the "Investors") to sell an aggregate of 1,600,000 shares (the "Shares") of the Company's common stock, par value $0.00001 at a price of $3.00 per share together with warrants (the "Warrants") to purchase an aggregate of 480,000 shares (the "Warrant Shares") of common stock at $3.50 per share (the "Private Placement"). The Private Placement is being entered into pursuant to Regulation D of the Securities Act of 1933, as amended (the "Securities Act").
Pursuant to the terms of the Private Placement, the Company entered into a registration rights agreement with the Investors and agreed to file a registration statement with the Securities and Exchange Commission (the "Commission") for the resale of the Shares and the exercise of the Warrants within ninety (90) days of the closing of the Private Placement. Pursuant to the terms of the registration rights agreement, the Company is required prepare and file with the Commission a Registration Statement on Form SB-2 or other applicable form covering the resale of the Shares and Warrant Shares within ninety (90) days from the date of the closing.
Item 3.02 Unregistered Sales of Equity Securities
See Item 1.01 above.
The parties intend that the Shares and Warrants offered and sold pursuant to the Private Placement to be exempt from registration and the prospectus delivery requirements under the Securities Act of 1933, as amended (the "Act"), provided by Section 4(2) of the Act and Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. The Investors have represented that they are accredited investors and that the Investors' intention is to acquire the securities for investment only and not with a view to distribution. An appropriate legend will be placed on the Shares and on any common stock certificates issued upon the exercise of the Warrants.
HRBN just did a Private Placement. If they use the PP $ to acquire a company that develops motors and electrical products for vehicles, like they talked about in a prior PR, I think this stock could really pop, especially at a time with oil $ gas at an all time high...."Now that we have passed the TS16949: 2002 authentication, we will immediately enter the automobile motor and electric markets according to our company's growth strategy to implement the company's initiatives on acquisitions and development of various motors and electric products for vehicles. This will further expand our company's markets and bring even more value to our shareholders," commented Yang Tianfu, Chairman and CEO of Harbin Electric."
http://biz.yahoo.com/prnews/050802/cntu009.html?.v=7
Here's the PP news...
On August 31, 2005, Harbin Electric, Inc. (the "Company") entered into Securities Purchase Agreements (collectively, the "Purchase Agreements") with institutional investors and other accredited investors (the "Investors") to sell an aggregate of 1,600,000 shares (the "Shares") of the Company's common stock, par value $0.00001 at a price of $3.00 per share together with warrants (the "Warrants") to purchase an aggregate of 480,000 shares (the "Warrant Shares") of common stock at $3.50 per share (the "Private Placement"). The Private Placement is being entered into pursuant to Regulation D of the Securities Act of 1933, as amended (the "Securities Act").
Pursuant to the terms of the Private Placement, the Company entered into a registration rights agreement with the Investors and agreed to file a registration statement with the Securities and Exchange Commission (the "Commission") for the resale of the Shares and the exercise of the Warrants within ninety (90) days of the closing of the Private Placement. Pursuant to the terms of the registration rights agreement, the Company is required prepare and file with the Commission a Registration Statement on Form SB-2 or other applicable form covering the resale of the Shares and Warrant Shares within ninety (90) days from the date of the closing.
Item 3.02 Unregistered Sales of Equity Securities
See Item 1.01 above.
The parties intend that the Shares and Warrants offered and sold pursuant to the Private Placement to be exempt from registration and the prospectus delivery requirements under the Securities Act of 1933, as amended (the "Act"), provided by Section 4(2) of the Act and Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. The Investors have represented that they are accredited investors and that the Investors' intention is to acquire the securities for investment only and not with a view to distribution. An appropriate legend will be placed on the Shares and on any common stock certificates issued upon the exercise of the Warrants.
BSM...Showing strength again today!!!
FTK (ronpopeil)...High commodity prices will fuel worldwide drilling activity, which will generate huge growth for Flotek. Flotek provides products and services used in the exploration and production of crude oil and natural gas, along with other types of mining. They're currently serving Venezuela, Russia, Mexico, Canada, and the US and are looking at entering the Far East. They just announced the acquisition of 2 more tool rental companies to expand their business, which will help bring high profits to their bottom line. They'll also be expanding their specialty chemicals division along with their patented Petrovalve division over the next few months.
FTK is one of the best mid-long term stocks that's been brought to this board IMO. Here's a look at their last 6 consecutive quarters...
3/31/04
REVS....$4.8M
NET....$234k
EPS (Diluted)...$0.03
6/30/04
REVS....$4.8
NET....$442k
EPS (Diluted)...$0.06
9/30/04
REVS....$5.7M
NET....$703k
EPS (Diluted)...$0.10
12/31/04
REVS....$6.6M
NET....$775M
EPS (Diluted)...$0.12
3/31/05
REVS....$11M
NET....$1.5M
EPS (Diluted)...$0.20
6/30/05
REVS....$12.5
NET....$2M
EPS (Diluted)...$0.26
BSM just hit $7.00!
BSM...Edit Msg...I see it's been mentioned here. Picked up a few shares this morning.
FTK...Another acquisition = More growth! Now let's see...What was it Jerry (CEO) said about their tool rental business a couple of weeks ago at the EnerCom conference?..........Oh yeah...The tool rental business has VERY HIGH MARGINS and is VERY PROFITABLE!!! You can find that info right here...
http://www.vcall.com/CustomEvent/conferences/enercom/080805/agenda.html
The acquisition also allows Flotek to be an inspection service provider. Isn't this a new area for them?..."We plan to expand the drilling tool inspection services throughout all of our operating locations including the Rocky Mountains."
What a brick!!
BTW, Harmon's Machine Works, Flotek's most recent acquisition, is also in the tool rental business.
Taking in consideration their growth and sector, I'm beginning to think FTK can be a $40.00 - $50.00 stock sometime next year. We'll see what happens.