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there's always opportunities for companies with valuable assets.
in this business you never know
there will always be high dollar opportunities in the energy market. we may see a resurgence in the business plan of this company at some point one way or another.
there will always be opportunities in the oil and agricultural markets for companies of all sizes. we could see ddcc find new business again.
oil prices are on the rise again. this may accelerate the plans for management here to move their plans forward.
this company has a lot to offer the oil industry and other industries like agriculture too. i expect new developments to come at some point.
the company still says they intend to restore the stock to trading status. that's all we need to know for now. i still have my shares and i am not going anywhere. thanks for your latest update post.
when things come together for this company again the people who still have their shares can benefit.
the company is working even though the stock is on hold for now. when they are ready to come back public again they should have much more to say.
i also get a personal reply when i write to the company email. the replies are signed by the ceo jerry drew. he makes a point each time of reminding that he and the other company managers also hold a lot of shares.
there was actually a new update from ddcc on their facebook site posted june 1st. you can see it here: https://www.facebook.com/doublecrownresources
i do get a reply when i send an email. the company website is down because it is under construction.
most companies in the oil industry has been waiting for the rebound of crude prices before committing to new drilling projects. we are seeing that rebound in 2018. this gives oilfield service companies their opportunity again to play their part in the process, especially if they have advancements to improve the state of the art like ddcc’s translock system.
looking forward to 2018 and getting ddcc reinstated as they have informed us on the company facebook page. the business environment is strong and there are lots of opportunities out there for new technologies in commodity shipping and transport.
i don't think they want to say that much while they are reorganizing, but we have seen enough updates on the ddcc facebook page recently to indicate that the business is still going forward and they have plans for the future. we just have to wait and hang on to our shares.
it's evident that ddcc management does have plans to go forward for both the company and the stockholders. will keep checking for more updates. we know they have value in the translock and other assets of the company.
it's good that the company is keeping info coming on its facebook site while they are reorganizing. i don't expect to hear much until they are ready to resume trading of the stock but the facebook site is a good place to check for new info.
the company website says it is currently under reconstruction and to check back soon. they are working on revising it. the company facebook page is still the same and has update messages about their plans to restore normal trading of ddcc stock.
thanks for your info from the company. glad to hear they are making it a priority now to get the financial reports up to date. their business deals will move along better once this is done too.
amity university establishing a new york presence can only help ddcc as well as amity's strong business orientation. i still expect the first focus of their efforts will be on india's very large guar farming industry which is an ideal application for ddcc’s translock system. after that we could see amity turning their efforts and influence to every other industry that ships aggregate commodities including the mineral and oil sectors.
the quotes from the president of amity university supporting ddcc are the validation we needed to see. no one publishes a direct quote from a high level authority that is not exactly what was said, word for word. amity university and president dr. ashok chauhan are now directly endorsing ddcc.
good follow-up news from ddcc today on the support from amity university. they already have a commercial deal for the first guar gum deliveries to the u.s. oil company coming together. also happy to see the president of amity university has a high opinion of the ddcc translock system.
i have been reading up on guar gum uses and it's in everything. oil drillers need it but also all kinds of food products are made with it and guar has many medical applications. as you pointed out india is the world's biggest supplier of guar beans for all these uses. ddcc has a big opportunity now with the india university getting behind use of the translock to ship guar gum. the timing is great with the guar market demand surging now.
the guar markets of india are presenting a perfect opportunity for launching the ddcc translock into industrial use this year. their crop is booming, and the oil industry needs it again with the resurgence of drilling. additionally, we look forward to more news about the assistance that ddcc is getting from amity university.
the resurgence of the oil markets this year is great for the guar farmers as their product is needed for drilling. ddcc has made a very good move to partner with amity university of india where most of the world's guar comes from. the timing of the market trends seems to be in our favor now to get the translock working for the guar farmers to ship their product in the most profitable and least wasteful way.
the timing seems to be in ddcc's favor with the new pro-business climate and the intermodal shipping rates picking up. it's likely these were factors in amity university's decision to support ddcc's translock project too. with the translock design work completed and patent protection in place amity should have an easy time validating translock for the guar gum shippers of india and expanding to other products and industries from there.
getting a high level university to endorse ddcc's translock is a hefty achievement. they were smart and/or lucky to get amity in india since the country is the world's biggest supplier of guar gum which is used on many industrial applications from oil drilling to medical supplies and food products.
the rising trades on ddcc in the last couple of weeks point to the company getting close on some important news. they have the translock container system completed, patented and ready for use this year. all the recovery in the economic circles will mean more demand for shipping of many different products and translock is ready just at the right time.
nice buying coming into ddcc today. the translock container is ready to go into use this year and no other company besides ddcc can offer this type of interlocking system with the patent protection that has was put in place in 2016. we should see great return on this investment as industrial contracts for translock are signed and this can start any time.
ddcc has been getting many days with high volume and a rising bid lately. it looks like the market is starting to anticipate upcoming contracts for the translock. revenues from translock to ddcc should be in the multi-millions with all the different products this new system can transport all over the world by land and sea. this will be worth the wait.
good info on the growth in intermodal shipping taking place this year. ddcc's translock system is the right product at the right time. news from ddcc in january did detail how they hare moving ahead with specific uses for translock in multiple industries. we should see contracts and significant revenues to the company soon.
the growth in global shipping and also the renewed government focus favoring business in general is giving ddcc an ideal launching environment for getting the translock system into commercial use this year. they have everything in place now, including all the necessary patent protection and also the new food preservation technology for agriculture commodities. the oil and gas business is rebounding now too so we will see very successful developments for ddcc.
the new year is looking right from all angles for ddcc's marketing plans. the oil industry is rebounding and ddcc did cover all their abilities in the oil drilling industry in the last press release. the increase in demand for containerized shipping all around also fits in well with the company's current plans.
it's a very good environment for ddcc to be bringing translock onto the marketing stage this year. the need for more and better containers is obvious and the translock has the best design features of any bulk shipping system for many different commodity types.
i like the way ddcc is starting off 2017 with a strong position of patent protection on the translock and multiple projects moving forward. there is a need for greater efficiency and cost savings in the commodity transport industry and ddcc now has what will provide the improvement that shippers want. translock will be worth many millions of dollars as it gets out into the markets.
ddcc got patent protection this year on all several different important features of the translock container design. they are being careful to protect their rights to this new tech because they know how highly valuable it is going to be for the shipping industries all over the world. the fact that the us patent office has approved ddcc's applications shows the validity of what this company has. 2017 can be a breakout year for ddcc.
ddcc has been building its business plans for 2016 and earlier and I am expecting to start seeing the paying off for us in 2017. the accomplishments of 2016 were many but the most important were the completion of the translock container designs and getting the patent protection in place. now that no other company can infringe on the translock's features, the shipping industries have to realize that ddcc is the only way to go. this is already starting to happen as we just saw with the food preservation company that signed its exclusive deal to work only with ddcc. we look forward to 2017.
the oil sector is coming to life again. i did see that opec finally announced an agreement to limit their output yesterday. that sparked oil prices over the $50 per barrel level and climbing. this will give ddcc even more opportunity for translock contracts in addition to the food transport projects they announced this week. it's all coming together.
ddcc now has customers for agricultural shipping in addition to their other business. this is how good companies grow their business by taking what they have to offer and bringing it to every customer that can benefit from it. the translock was developed for all types of commodity shipments and certainly the agricultural aspects were part of the original planning
Accuride Corporation Announces Completion of Acquisition by Crestview Partners
Accuride Corporation (NYSE:ACW) (“Accuride” or the “Company”) – a leading supplier of components to the North American and European commercial vehicle industries – today announced the completion of its acquisition by funds managed by Crestview Partners (“Crestview”), a leading New York based private equity firm, pursuant to the merger agreement it announced on September 2, 2016. Accuride’s shareholders adopted the merger agreement at the Company’s Special Meeting of Shareholders held on November 15, 2016.
Accuride President and CEO Rick Dauch said, “Today marks the start of a new and exciting chapter for our storied company. As a stand-alone business within Crestview’s portfolio of companies, Accuride will serve as a platform for further growth and consolidation in the global wheels and wheel-end sectors as we continue to deliver world-class operating performance and products for our customers. Our Executive Leadership Team is energized to lead Accuride into this new phase of expansion for our business and look forward to working closely with the Crestview team.”
Alex Rose, Partner at Crestview and co-head of the firm’s industrials strategy, commented: “We are impressed by Accuride’s commitment to excellent service and the strong reputation they have built over the course of their history. We believe this acquisition will allow Accuride to focus on long-term initiatives and, in doing so, will grant the Company flexibility to improve on its current business model. We look forward to working with the existing management team to support Accuride as it enters this next phase of growth.”
Under the terms of the merger agreement shareholders are entitled to receive $2.58 in cash per share of the Company’s common stock. As a result of the transaction, the Company's common stock will cease to trade on the New York Stock Exchange prior to the opening of the market on November 21, 2016 and will be delisted. The Company will terminate its registration and reporting obligations with the Securities and Exchange Commission.
Rick Dauch will continue to serve as Accuride’s President and CEO, supported by the other members of the Company’s Executive Leadership Team. Accuride will continue to operate under its current brand name and remain headquartered in Evansville, Ind., USA, with operations in the United States, Canada, Mexico and Italy.
About Accuride Corporation
With headquarters in Evansville, Ind., USA, Accuride Corporation is a leading supplier of components to the North American and European commercial vehicle industries. The company’s products include commercial vehicle wheels and wheel-end components and assemblies. The company’s products are marketed under its brand names, which include Accuride®, Accuride Wheel End Solutions™, Gunite® and Gianetti Ruote™. Accuride is a portfolio company of Crestview Partners. For more information: www.AccurideCorp.com.
About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview's senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: media, energy, financial services, and industrials. For more information:www.crestview.com.
Forward-Looking Statements
Certain statements contained in this document may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Accuride's expectations, beliefs, and intentions with respect to future results. Such statements are subject to the impact on Accuride's business and prospects generally of, among other factors, market demand in the commercial vehicle industry, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Accuride's filings with the Securities and Exchange Commission. Forward-looking statements reflect only Accuride's belief at the time the statements are made. Although Accuride believes that the expectations reflected in such forward-looking statements are reasonable, it cannot guarantee its future results, levels of activity, performance or achievements. Except as required by law, Accuride undertakes no obligation to update any forward-looking statement to reflect events or developments after the date hereof.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161118005377/en/
MEDIA RELATIONS FOR ACCURIDE?Timothy G. Weir, APR, 812-962-5128?Director of Public Affairs, Communications & Marketing?tweir@accuridecorp.com?or?INVESTOR RELATIONS FOR ACCURIDE?Todd Taylor, 812-962-5105?Vice President and Treasurer?ttaylor@accuridecorp.com?or?JOELE FRANK, WILKINSON BRIMMER KATCHER?Dan Katcher, Jim Golden or Priscila Roney?212-355-4449?or?MEDIA RELATIONS FOR CRESTVIEW PARTNERS?KEKST?Jeffrey Taufield/Daniel Yunger, 212-521-4800?jeffrey.taufield@kekst.com | daniel.yunger@kekst.com
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