Catalytic (DI) Share Discussion Threads

[buystock] 18/1/2010 09:01

Catalytic Solutions' Heavy-Duty Diesel Business Receives EPA Verification for ECS Purifilter Plus(TM)
Catalytic Solutions, Inc. (AIM: CTS.L and CTSU.L), the company behind Mixed Phase Catalyst (MPC(R)) technology, is pleased to announce that its Heavy-Duty Diesel Systems business has received verification from the Environmental Protection Agency (EPA) for its innovative ECS Purifilter Plus(TM) emissions reduction product, increasing its leading share of EPA verified engine retrofit devices to 42%.

Catalytic Solutions' ECS Purifilter Plus(TM) earned verification from the EPA for successfully reducing harmful emissions of particulate matter by 90%, carbon monoxide by 75% and hydrocarbons by 85% for the retrofit of 1994 through 2006 model year non-exhaust gas recirculation (EGR) heavy-duty diesel engines. In addition, the ECS Purifilter Plus(TM) for EGR heavy-duty diesel engines earned a conditional verification, satisfying EPA's verified device funding requirements for the purposes of sales for eligible retrofits. The Company expects to receive full verification by providing the EPA with testing plans, completing a standard test program by March 2010 and supplying any additional requirements as requested. The ECS Purifilter Plus(TM) is the first and only hybrid diesel particulate filter (DPF) system employing both passive and active regeneration that has been verified by both the EPA and California Air Resources Board (CARB) for a wide variety of heavy-duty diesel on-road engines.

ECS Purifilter Plus(TM) combines a passive ECS Purifilter(TM) and the active regeneration components of an ECS Combifilter(TM) which result in a hybrid diesel particulate filter which has no minimum exhaust temperature requirement and is easily maintained through active regeneration by periodically plugging the system into a 240V single-phase or 480V three-phase regeneration control panel that may be shared between several vehicles. This approach greatly reduces the maintenance requirements when compared to traditional passive DPF solutions.

The ECS Purifilter Plus(TM) is ideal for a wide variety of small and large fleet operators such as school, shuttle and urban buses, municipal and utility vehicles, refuse trucks and urban delivery vehicles.

Ian MacDonald, Vice President of Catalytic Solutions, Inc.'s Heavy-Duty Diesel Systems business, commented:

"The verification given by the EPA reinforces the credibility of Catalytic Solutions' ECS brand name. It underscores our commitment to the development of products that offer superior performance and ease of use."

Charles F. Call, Chief Executive Officer of Catalytic Solutions, Inc. added:

"We are pleased with the addition of this product to our already leading range of retrofit products which have received EPA and CARB verification. As the number of retrofit product verifications we receive increases, so does our target market. Reducing harmful emissions created by diesel engines is a critical priority, as evidenced by the recently approved stimulus funding of $300 million under the EPA's Diesel Emissions Reduction Act (DERA) program being made available to heavy-duty diesel on-road vehicle and off-road equipment owners to retrofit their engines to reduce diesel emissions."

About Catalytic Solutions, Inc.

We are a global manufacturer and distributor of emissions control systems and products, focused in the heavy-duty diesel (HDD), energy systems and light-duty vehicle (LDV) markets. Catalytic Solutions' emissions control systems and products are designed to deliver high value to our customers while benefiting the global environment through air quality improvement, sustainability and energy efficiency. Catalytic Solutions, Inc. is listed on AIM of the London Stock Exchange (AIM: CTS.L and CTSU.L) and currently has operations in the USA, Canada, France, Japan, Sweden and an Asian joint venture. The Company's website is www.catalyticsolutions.com.

[buystock] 18/1/2010 08:36

Engine Control Systems Keeps on Shipping!

Thornhill, ON, January 12, 2010 – Engine Control Systems (ECS), a Catalytic Solutions, Inc. Company, is pleased to announce its continued successful fulfillment of product shipments.

[buystock] 18/1/2010 08:23

got them guys Order Confirmation

--------------------------------------------------------------------------------

Account: C00380714GEN01 Printable Contract Note We have BOUGHT on your behalf as agents on 18 Jan, 2010 08:16 for settlement on 21 Jan, 2010 12:00. Transaction Details

Quantity 100000

Symbol (Name) CTSU (Catalytic Solutions Inc COM STK NPV)

Price 1.25 GBX





Transaction Record

Bargain Number 0018BHQA

Order Number 01825493A

Currency GBP

Bargain Conditions None

Venue ID London Stock Exchange

Market Consideration 1,250.00 GBP

Commission 7.00 GBP

Stamp Duty 6.25 GBP

Total Charges 13.25 GBP

Total Order Value 1,263.25 GBP



Note: This order confirmation is subject to the rules and regulations of the London Stock Exchange including any temporary regulations and should be retained for your records.

my other 100k on friday.15/01/2010 14:20:08 1.25 6,368 O 79.60

15/01/2010 13:37:28 1.24 100,000 O 1

massive orders being shipped

[buystock] 18/1/2010 08:23

Welcome to Catalytic Solutions, Inc. (AIM:CTS and CTSU)

Advanced Materials for Catalyst Technology

Catalytic Solutions, Inc. is a global manufacturer and distributor of emissions control systems and products, focused in the heavy-duty diesel (HDD) and light-duty vehicle (LDV) markets. Catalytic Solutions' emissions control systems and products are designed to deliver high value to our customers while benefiting the global environment through air quality improvement, sustainability and energy efficiency.

We have over 25 years of experience in the HDD systems market and our proven technical and manufacturing competence in the LDV market meets auto makers' most stringent requirements, having supplied over 9 million parts to LDV customers since 1996.

Catalytic Solutions' clean tech businesses include:

•HDD Systems (Engine Control Systems), a leading environmental business specializing in the design and manufacture of verified exhaust emissions control solutions. Globally, the HDD Systems business offers a full range of products for the original equipment manufacturer (OEM), aftermarket and retrofit markets in order to reduce exhaust emissions created by on-road, off-road and stationary diesel, gasoline and alternative fuel engines including propane and natural gas.
•LDV/HDD Catalysts, the business behind Catalytic Solutions' proprietary Mixed Phase Catalyst (MPC®) technology enabling the Company to produce catalyst formulations for gasoline, diesel and natural gas induced emissions that offer superior performance, proven durability and cost effectiveness for multiple markets and a wide range of applications. A family of unique high-performance catalysts has been developed - with base-metals or low platinum group metal (PGM) and zero-PGM content - to provide increased catalytic function and value for technology-driven automotive industry customers


•Formed a joint venture company, TC Catalyst Incorporated (TCC) with Tanaka Kikinzoku Kogyo KK (TKK), a leading Japanese provider of PGM products and technologies to supply emission reduction catalysts for gasoline and diesel engines throughout Asia.


NEWS HIGHLIGHTS

•Bernard H. Cherry appointed to Board of Directors.
•Won orders for four SCR systems for package boiler applications for installation at three leading U.S. food processing companies.
•Approved to supply and began production of catalysts for Renault D4/D7 engine platform.
•Established an unrestricted trading line (CTSU).
•First order ships under Asara/Mintec agreement.
•Entered into a loan and security agreement with Cycad Group, LLC.
•Construction of Czech Republic manufacturing plant commenced.
•Nikhil A. Mehta joined as CFO and appointed to Board of Directors.
•Began supplying catalysts for the Honda's model year 2008 Acura TSX.
•Won orders for five SCR systems for boilers from Jacobs Engineering Group Inc.
•Realigned LDV and HDD catalyst business
•Won an order from Holman Boiler Works, Inc. for five SCR systems for boilers installed at a major Dallas area hospital's energy plants
•Signed Holman Boiler Works, Inc. as preferred sales representative for SCR and CO systems for boilers
•Received CARB approval for ECS Purifilter™ H as a Level 3 Plus device enabling sales into California
•Won orders from Foster Wheeler Ltd. for five SCR systems for process heaters installed at a refinery in Whiting, Indiana and a refinery conversion project in Port Arthur, Texas

NEWS HIGHLIGHTS

•Received conditional product verification from CARB for the ECS Purifilter™ H as a Level 3 Plus device for a wide-range of HDD off-road engines.
•Received product verification from CARB for the ECS Purifilter Plus™ for a wide-range of HDD on-road engines.
•Won $9 million order from PCL Industrial Services, Inc. to provide SCR solutions for a major oil company.
•HDD Systems business positioned to supply retrofit products under Stimulus Bill.
•Received product verification from the EPA for the ECS Purifilter Plus™ for a wide-range of HDD on-road engines.
•TermiNOx™D approved for EPA's Emerging Technology Program.
•Sold Energy Systems business to Johnson Matthey for $10 million.

[buystock] 16/1/2010 07:34

WE SHOULD HEAR IN A FEW DAYS us senate funding/agreement









Welcome to Catalytic Solutions, Inc. (AIM:CTS and CTSU)

Advanced Materials for Catalyst Technology

Catalytic Solutions, Inc. is a global manufacturer and distributor of emissions control systems and products, focused in the heavy-duty diesel (HDD) and light-duty vehicle (LDV) markets. Catalytic Solutions' emissions control systems and products are designed to deliver high value to our customers while benefiting the global environment through air quality improvement, sustainability and energy efficiency.

We have over 25 years of experience in the HDD systems market and our proven technical and manufacturing competence in the LDV market meets auto makers' most stringent requirements, having supplied over 9 million parts to LDV customers since 1996.

Catalytic Solutions' clean tech businesses include:

•HDD Systems (Engine Control Systems), a leading environmental business specializing in the design and manufacture of verified exhaust emissions control solutions. Globally, the HDD Systems business offers a full range of products for the original equipment manufacturer (OEM), aftermarket and retrofit markets in order to reduce exhaust emissions created by on-road, off-road and stationary diesel, gasoline and alternative fuel engines including propane and natural gas.

•LDV/HDD Catalysts, the business behind Catalytic Solutions' proprietary Mixed Phase Catalyst (MPC®) technology enabling the Company to produce catalyst formulations for gasoline, diesel and natural gas induced emissions that offer superior performance, proven durability and cost effectiveness for multiple markets and a wide range of applications. A family of unique high-performance catalysts has been developed - with base-metals or low platinum group metal (PGM) and zero-PGM content - to provide increased catalytic function and value for technology-driven automotive industry customers.

Catalytic Solutions, Inc. is listed on AIM of the London Stock Exchange (AIM: CTS and CTSU) and currently has operations in the USA, Canada, France, Japan and Sweden as well as an Asian joint venture.

[buystock] 16/1/2010 07:32

WE SHOULD HEAR IN A FEW DAYS us senate funding/agreement









Welcome to Catalytic Solutions, Inc. (AIM:CTS and CTSU)

Advanced Materials for Catalyst Technology

Catalytic Solutions, Inc. is a global manufacturer and distributor of emissions control systems and products, focused in the heavy-duty diesel (HDD) and light-duty vehicle (LDV) markets. Catalytic Solutions' emissions control systems and products are designed to deliver high value to our customers while benefiting the global environment through air quality improvement, sustainability and energy efficiency.

We have over 25 years of experience in the HDD systems market and our proven technical and manufacturing competence in the LDV market meets auto makers' most stringent requirements, having supplied over 9 million parts to LDV customers since 1996.

Catalytic Solutions' clean tech businesses include:

•HDD Systems (Engine Control Systems), a leading environmental business specializing in the design and manufacture of verified exhaust emissions control solutions. Globally, the HDD Systems business offers a full range of products for the original equipment manufacturer (OEM), aftermarket and retrofit markets in order to reduce exhaust emissions created by on-road, off-road and stationary diesel, gasoline and alternative fuel engines including propane and natural gas.

•LDV/HDD Catalysts, the business behind Catalytic Solutions' proprietary Mixed Phase Catalyst (MPC®) technology enabling the Company to produce catalyst formulations for gasoline, diesel and natural gas induced emissions that offer superior performance, proven durability and cost effectiveness for multiple markets and a wide range of applications. A family of unique high-performance catalysts has been developed - with base-metals or low platinum group metal (PGM) and zero-PGM content - to provide increased catalytic function and value for technology-driven automotive industry customers.

Catalytic Solutions, Inc. is listed on AIM of the London Stock Exchange (AIM: CTS and CTSU) and currently has operations in the USA, Canada, France, Japan and Sweden as well as an Asian joint venture.

[buystock] 15/1/2010 13:50

WE SHOULD HEAR IN A FEW DAYS us senate funding/agreement









Welcome to Catalytic Solutions, Inc. (AIM:CTS and CTSU)

Advanced Materials for Catalyst Technology

Catalytic Solutions, Inc. is a global manufacturer and distributor of emissions control systems and products, focused in the heavy-duty diesel (HDD) and light-duty vehicle (LDV) markets. Catalytic Solutions' emissions control systems and products are designed to deliver high value to our customers while benefiting the global environment through air quality improvement, sustainability and energy efficiency.

We have over 25 years of experience in the HDD systems market and our proven technical and manufacturing competence in the LDV market meets auto makers' most stringent requirements, having supplied over 9 million parts to LDV customers since 1996.

Catalytic Solutions' clean tech businesses include:

•HDD Systems (Engine Control Systems), a leading environmental business specializing in the design and manufacture of verified exhaust emissions control solutions. Globally, the HDD Systems business offers a full range of products for the original equipment manufacturer (OEM), aftermarket and retrofit markets in order to reduce exhaust emissions created by on-road, off-road and stationary diesel, gasoline and alternative fuel engines including propane and natural gas.

•LDV/HDD Catalysts, the business behind Catalytic Solutions' proprietary Mixed Phase Catalyst (MPC®) technology enabling the Company to produce catalyst formulations for gasoline, diesel and natural gas induced emissions that offer superior performance, proven durability and cost effectiveness for multiple markets and a wide range of applications. A family of unique high-performance catalysts has been developed - with base-metals or low platinum group metal (PGM) and zero-PGM content - to provide increased catalytic function and value for technology-driven automotive industry customers.

Catalytic Solutions, Inc. is listed on AIM of the London Stock Exchange (AIM: CTS and CTSU) and currently has operations in the USA, Canada, France, Japan and Sweden as well as an Asian joint venture.

[buystock] 15/1/2010 13:42

update coming and a healthy rise

[lakme] 07/1/2010 09:10

Once a dog always a dog - I'm out.

[buystock] 21/12/2009 16:14

14M DOLLARS IN DISPOSALS/1M MKT CAP (CTSU) Add Favourite

Click here for related discussions
buystock - 21 Dec'09 - 16:06 edit


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News
21/12/09 07:30 UKREG Update On Financial Position
27/11/09 10:15 UKREG Update on Financial Position

14M IN ASSET sales and a 1m mkt cap =10x no debt nowCatalytic Solutions, Inc.







Catalytic Solutions, Inc.


(The "Company")


UPDATE ON FINANCIAL POSITION

RESTORATION TO TRADING




Catalytic Solutions, Inc. (AIM: CTS and CTSU), the Company behind Mixed Phase Catalyst (MPC®) technology, announces the following:

*

Sale of Intellectual Property to joint venture partner TKK for $4.0 million
*

Agreement on terms of forbearance with secured lender


TKK transaction

The Board of Directors is pleased to announce that it has reached an agreement with Tanaka Kikinzoku Kogyo Kabushiki Kaisha ("TKK"), its joint venture partner in Asia Pacific, to sell the IP rights to part of its three-way catalyst ("TWC") technology to TKK.



Under the terms of the Purchase & Sale Agreement (the "Agreement"), which has been approved by the Boards of the Company and TKK, Catalytic Solutions will sell certain patents relating to TWC technology to TKK for use in the Asia Pacific region only. The Agreement accelerates the exercise of the acquisition rights of TKK under the terms of the TC Catalyst Incorporated ("TCC") joint venture and requires that the respective equity ownership of TKK and Catalytic Solutions in the TCC joint venture changes to 95 per cent / 5 per cent in order to reflect the change in contributor of the TWC technology to the joint venture. The Agreement also provides Catalytic Solutions with a right of first refusal to reacquire the patents in the event that TKK chooses to dispose of them. Under the Agreement, the Company will receive total cash consideration of $4.0 million which is expected to be received in two tranches in December 2009 and the first quarter of 2010, respectively.


Catalytic Solutions will continue to own rights to the utilization of the TWC technology in the remainder of the world, including the United States. In addition, TKK has agreed that it will not compete with the joint venture that it enjoys with the Company in the Asia Pacific region for the duration of the TCC joint venture, which has a minimum duration of 10 years.



Forbearance agreement with Fifth Third Bank

Further to the Company's announcement of 27 November 2009, the Company and Fifth Third Bank have agreed to the terms under which Fifth Third Bank will extend forbearance until 31 January 2010 on the Company's outstanding debt obligations owed to it. The key terms include the repayment of approximately $900,000 to the bank by 31 December 2009, an increase in the interest rate payable by 100 basis points beginning 1 December 2009 and an additional 50 basis points beginning 1 January 2010. Other terms are customary for forbearance agreements of this nature. In addition, the bank has renewed the revolving facility through the term of forbearance. The facility was due for renewal on 31 December 2009.


The proceeds from the TKK transaction will be used in part to repay to Fifth Third Bank those amounts agreed to under the terms of forbearance




(The "Company")


SALE OF energy systems business


Catalytic Solutions, Inc. (AIM:CTS and CTSU), the company behind Mixed Phase Catalyst (MPC®) technology ("Company"), today announces that it has sold the principal assets and liabilities of its energy systems business, Applied Utility Systems, Inc. ("AUS"), to Johnson Matthey (LSE:JMAT).


Key terms of the transaction are as follows:


*

A total sale price of US$10 million with US$8.5 million having been paid in cash at signing, US$0.5 million payable contingent upon AUS being awarded certain projects and US$1.0 million retention against certain project and contract warranties and other obligations.

*

Assets sold include contracts in progress, working capital, intellectual property relating to systems, trade marks and trade names. A settlement will be made between Johnson Matthey and the Company to reflect net working capital.

The Company purchased AUS, a provider of cost-effective, engineered solutions for the clean and efficient utilization of fossil fuels, in 2006. AUS provides emissions control and energy systems solutions for industrial and utility boilers, process heaters, gas turbines and generator sets used largely by major utilities, industrial process plants, OEMs, refineries, food processors, product manufacturers and universities. This business accounted for a loss of US$915,000 for the year ended 31 December 2008, including certain non-recurring expenses of US$530,000 and depreciation and amortization expenses of US$556,000.

[buystock] 21/12/2009 16:13

NEW WORLD PATENT 3 weeks ago new world patent granted 3 weeks ago NEW PATENT AWARDED 24th nov
Publication No. WO/2009/139860 Published on Nov. 19, Assigned to Catalytic Solutions for Emission Reduction System (American Inventors)

Article from:
US Fed News Service, Including US State News
Article date:
November 24, 2009 CopyrightCopyright © HT Media Ltd. All Rights Reserved. Provided by ProQuest LLC. (Hide copyright information)

Ads by Google

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Catalyst & Filter systems
Supply SCR & Oxidation Catalyst Supply Diesel soot & Ceramic Filter
www.iceuk.ltd.uk

GENEVA, Nov. 20 -- Robert Bono, Rajashekharam Malyala, Stephen J. Golden and Alec Miller, all from United States of America, have developed an emission reduction system for use with a heat recovery steam generation system.

The patent has been assigned to Catalytic Solutions Inc., Ventura, Calif.

According to an abstract posted by the World Intellectual Property Organization: "A system and method of maintaining an optimal temperature range for a catalyst section in a HRSG comprising placing a portion of the exhaust stream in a heat exchanger and superheater, diverting a second portion around the heat exchanger and superheater, combining ...

[buystock] 21/12/2009 16:13

new world patent granted 3 weeks ago NEW PATENT AWARDED 24th nov
Publication No. WO/2009/139860 Published on Nov. 19, Assigned to Catalytic Solutions for Emission Reduction System (American Inventors)

Article from:
US Fed News Service, Including US State News
Article date:
November 24, 2009 CopyrightCopyright © HT Media Ltd. All Rights Reserved. Provided by ProQuest LLC. (Hide copyright information)

Ads by Google

Quality Cat Converters
Direct Fit units @ Unbeatable Low Prices. No Gimmick Headlines
www.cats2go.co.uk

Catalyst & Filter systems
Supply SCR & Oxidation Catalyst Supply Diesel soot & Ceramic Filter
www.iceuk.ltd.uk

GENEVA, Nov. 20 -- Robert Bono, Rajashekharam Malyala, Stephen J. Golden and Alec Miller, all from United States of America, have developed an emission reduction system for use with a heat recovery steam generation system.

The patent has been assigned to Catalytic Solutions Inc., Ventura, Calif.

According to an abstract posted by the World Intellectual Property Organization: "A system and method of maintaining an optimal temperature range for a catalyst section in a HRSG comprising placing a portion of the exhaust stream in a heat exchanger and superheater, diverting a second portion around the heat exchanger and superheater, combining ...

[buystock] 21/12/2009 16:09

new world patent granted weeks ago NEW PATENT AWARDED 24th nov
Publication No. WO/2009/139860 Published on Nov. 19, Assigned to Catalytic Solutions for Emission Reduction System (American Inventors)

Article from:
US Fed News Service, Including US State News
Article date:
November 24, 2009 CopyrightCopyright © HT Media Ltd. All Rights Reserved. Provided by ProQuest LLC. (Hide copyright information)

Ads by Google

Quality Cat Converters
Direct Fit units @ Unbeatable Low Prices. No Gimmick Headlines
www.cats2go.co.uk

Catalyst & Filter systems
Supply SCR & Oxidation Catalyst Supply Diesel soot & Ceramic Filter
www.iceuk.ltd.uk

GENEVA, Nov. 20 -- Robert Bono, Rajashekharam Malyala, Stephen J. Golden and Alec Miller, all from United States of America, have developed an emission reduction system for use with a heat recovery steam generation system.

The patent has been assigned to Catalytic Solutions Inc., Ventura, Calif.

According to an abstract posted by the World Intellectual Property Organization: "A system and method of maintaining an optimal temperature range for a catalyst section in a HRSG comprising placing a portion of the exhaust stream in a heat exchanger and superheater, diverting a second portion around the heat exchanger and superheater, combining ...

[buystock] 21/12/2009 16:06

14M IN ASSET sales and a 1m mkt cap =10x no debt nowCatalytic Solutions, Inc.







Catalytic Solutions, Inc.


(The "Company")


UPDATE ON FINANCIAL POSITION

RESTORATION TO TRADING




Catalytic Solutions, Inc. (AIM: CTS and CTSU), the Company behind Mixed Phase Catalyst (MPC®) technology, announces the following:

*

Sale of Intellectual Property to joint venture partner TKK for $4.0 million
*

Agreement on terms of forbearance with secured lender


TKK transaction

The Board of Directors is pleased to announce that it has reached an agreement with Tanaka Kikinzoku Kogyo Kabushiki Kaisha ("TKK"), its joint venture partner in Asia Pacific, to sell the IP rights to part of its three-way catalyst ("TWC") technology to TKK.



Under the terms of the Purchase & Sale Agreement (the "Agreement"), which has been approved by the Boards of the Company and TKK, Catalytic Solutions will sell certain patents relating to TWC technology to TKK for use in the Asia Pacific region only. The Agreement accelerates the exercise of the acquisition rights of TKK under the terms of the TC Catalyst Incorporated ("TCC") joint venture and requires that the respective equity ownership of TKK and Catalytic Solutions in the TCC joint venture changes to 95 per cent / 5 per cent in order to reflect the change in contributor of the TWC technology to the joint venture. The Agreement also provides Catalytic Solutions with a right of first refusal to reacquire the patents in the event that TKK chooses to dispose of them. Under the Agreement, the Company will receive total cash consideration of $4.0 million which is expected to be received in two tranches in December 2009 and the first quarter of 2010, respectively.


Catalytic Solutions will continue to own rights to the utilization of the TWC technology in the remainder of the world, including the United States. In addition, TKK has agreed that it will not compete with the joint venture that it enjoys with the Company in the Asia Pacific region for the duration of the TCC joint venture, which has a minimum duration of 10 years.



Forbearance agreement with Fifth Third Bank

Further to the Company's announcement of 27 November 2009, the Company and Fifth Third Bank have agreed to the terms under which Fifth Third Bank will extend forbearance until 31 January 2010 on the Company's outstanding debt obligations owed to it. The key terms include the repayment of approximately $900,000 to the bank by 31 December 2009, an increase in the interest rate payable by 100 basis points beginning 1 December 2009 and an additional 50 basis points beginning 1 January 2010. Other terms are customary for forbearance agreements of this nature. In addition, the bank has renewed the revolving facility through the term of forbearance. The facility was due for renewal on 31 December 2009.


The proceeds from the TKK transaction will be used in part to repay to Fifth Third Bank those amounts agreed to under the terms of forbearance




(The "Company")


SALE OF energy systems business


Catalytic Solutions, Inc. (AIM:CTS and CTSU), the company behind Mixed Phase Catalyst (MPC®) technology ("Company"), today announces that it has sold the principal assets and liabilities of its energy systems business, Applied Utility Systems, Inc. ("AUS"), to Johnson Matthey (LSE:JMAT).


Key terms of the transaction are as follows:


*

A total sale price of US$10 million with US$8.5 million having been paid in cash at signing, US$0.5 million payable contingent upon AUS being awarded certain projects and US$1.0 million retention against certain project and contract warranties and other obligations.

*

Assets sold include contracts in progress, working capital, intellectual property relating to systems, trade marks and trade names. A settlement will be made between Johnson Matthey and the Company to reflect net working capital.

The Company purchased AUS, a provider of cost-effective, engineered solutions for the clean and efficient utilization of fossil fuels, in 2006. AUS provides emissions control and energy systems solutions for industrial and utility boilers, process heaters, gas turbines and generator sets used largely by major utilities, industrial process plants, OEMs, refineries, food processors, product manufacturers and universities. This business accounted for a loss of US$915,000 for the year ended 31 December 2008, including certain non-recurring expenses of US$530,000 and depreciation and amortization expenses of US$556,000.

[lakme] 15/12/2009 09:20

Has anybody any idea what is going on here?

[1howie] 24/10/2009 00:51

called this one bang on!!!

[bluenose851] 01/10/2009 13:12

now selling asset to be able to fund the banks.....this is not good news especially at fire sale prices

[theresearcher] 01/10/2009 07:36

and a nice trading update andrbea looks like we could be okay.gl

[andrbea] 01/10/2009 07:30

Most companies, of late, raise capital through convertible loan notes, to avoid a firesale of assets. CTSU are doing the latter, which is odd.

Seems to me that this company is so big (5 countries+) and 3 or 4 divisions that they can afford to sell off certain divisions to keep the show going.

They've got a reprieve (one bank's debt satisfied), so perhaps the share price can recover from these levels

Next showdown is end of November.

nia dyor

[theresearcher] 01/10/2009 07:12

pelleeds looking very much better today.imho.gl.she is not singing yet

[bluenose851] 30/9/2009 12:38

I hate to say I told you so.....but I told you so!