Tuesday, May 8, 2012

WestJet Selects Bombardier Q400 NextGen Airliner

"Get More" Q400 NextGen Demonstration Aircraft Heading to Africa

 

TORONTO, ONTARIO--(Marketwire - May 1, 2012) - As Bombardier Aerospace's technologically advanced Q400 NextGen airliner heads to Africa on another leg of its 2012 world tour, its journey is boosted by WestJet's announcement earlier today, that the Q400 NextGen airliner has been selected to meet the airline's business requirement for up to 45 turboprop aircraft to launch its regional airline.

 

"This is a very proud day for Bombardier. We are thrilled to learn that WestJet has selected the Q400 NextGen aircraft for its fleet expansion requirements, just as the "Get More" demonstration aircraft travels to Africa for another series of demonstration tours," said Mike Arcamone, President, Bombardier Commercial Aircraft. "This same aircraft kicked off its world tour in March 2012 with a visit to Calgary, Alberta - home of our WestJetter friends and was able to successfully showcase why our new-generation turboprop aircraft fits perfectly with WestJet's brand. We are pleased to welcome WestJetters to the Bombardier family and we look forward to continuing to work with the WestJet team to finalize the purchase agreement related to its selection of the Q400 NextGen aircraft.

 

"The Q400 NextGen aircraft was selected on its superior merit as the turboprop best suited for the growth-minded operations of WestJet. As a productivity machine, the Q400 NextGen aircraft delivers 78 seats with ample cargo volume to meet the needs of WestJet and its guests. This versatile aircraft is efficient on short-haul missions or can use its speed to reach regional destinations further afield - making it competitive with jets on longer sectors. With an unmatched balance of speed, comfort, cost efficiencies and highly regarded environmental qualities, the Q400 NextGen aircraft is a perfect fit for WestJet," added Mr. Arcamone.

 

The "Get More" Q400 NextGen airliner will be on display and conduct demonstration flights on more than 10 African stops. Q400 aircraft are proving their high value by operating in all kinds of diverse environments - cold weather operations in Canada and Eastern Europe; arid environments of the Middle East and Northern Africa and the humid environments in Western North America and sub-Saharan Africa. No other turboprop performs like the Q400 aircraft in these environments.

 

"Our demonstration flights in Western Canada, Chile and Peru earlier this year were exceedingly successful and we look forward to showcasing our Q400 NextGen aircraft in Africa in the coming weeks," said Raphael Haddad, Vice President, Sales, Middle East and Africa, Bombardier Commercial Aircraft. "More than 200 Bombardier CRJ Series regional jets and Dash 8/Q-Series turboprops - including some 42 Q400 aircraft - are already operating, or are on order, in Africa and the Middle East where they have been deployed in a variety of markets.

 

"The Q400 NextGen airliner is the fastest new-technology turboprop, providing both jet speed and turboprop fuel efficiency which allows the aircraft to deliver the best flexibility and overall operating economics in its market segment," added Mr. Haddad.

 

Bombardier's 2011-2030 market forecast predicts that while starting from a small base, the Middle East and Africa will capture seven per cent, or 980 of the 13,100 worldwide deliveries expected in the 20- to 149-seat market segment. In November 2011, Bombardier Aerospace announced the establishment of a Bombardier Commercial Aircraft regional sales and marketing office in Dubai to serve the Middle East and Africa. The facility, which is located in the Dubai Free Zone near Dubai International Airport, extends Bombardier's global presence and provides closer proximity to current customers and prospects in the Middle East and Africa.

 

Bombardier has booked firm orders for 428 Q400 and Q400 NextGen airliners. The delivered aircraft are in service with approximately 40 operators in 30 countries, on six continents. These aircraft have transported more than 177 million passengers and have logged more than 3.2 million flight hours and over 3.5 million take-offs and landings.

 

About Q400 NextGen aircraft

 

The Q400 NextGen turboprop airliner, which is built at Bombardier's Toronto, Ontario facility, is the most recent development in the evolution of the Q400 aircraft, and the advanced successor to Bombardier's Dash 8/Q-Series family of aircraft. Optimized for short-haul operations, the "comfortably greener," 70- to 80-seat Q400 NextGen aircraft is a large, fast, quiet and fuel-efficient turboprop. It provides an ideal balance of passenger comfort and operating economics with a reduced environmental footprint.

 

The Q400 NextGen aircraft features an enhanced cabin environment with the introduction of LED lighting, new ceiling panels, dished window sidewalls and larger overhead luggage bins. These features, combined with the aircraft's Active Noise and Vibration Suppression (ANVS) system, provide an excellent cabin experience for passengers.

 

Setting new environmental standards, the Q400 aircraft uses 30 to 40 per cent less fuel and produces 30 to 40 per cent fewer emissions on routes where it has replaced similar-capacity, older jets.

 

About Bombardier

 

A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended December 31, 2011, were $18.3 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com or follow us on Twitter @Bombardier.

 

Notes to editors

 

Images of the Q400 NextGen aircraft in WestJet livery, as well as in its "Get More" livery are available in the press releases section at: www.bombardier.com. Additional information, photos and videos will be available on Flickr atwww.flickr.com/bombardieraerospace and www.youtube.com/bombardiervideos.

 

Follow @Bombardier_Aero on Twitter to receive the latest news and updates from Bombardier Aerospace and #GetMore to follow the progress of the Q400 NextGen airliner on its world tour.

 

Active Noise and Vibration Suppression, Bombardier, CRJ, Dash 8, NextGen, Q400 and Q-Series are trademarks of Bombardier Inc. or its subsidiaries.

 

Contacts:
Marc Duchesne
Bombardier Commercial Aircraft
+1-416-375-3030
www.bombardier.com

 

 

Copyright © 2012 Marketwire. All rights reserved.

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DragonWave Announces Amended Agreement and Closing Date for Transaction with Nokia Siemens Networks

 

 

Amended agreement provides greater flexibility to respond to market dynamics and enhances delivery of new product features

 

 

OTTAWA, CANADA--(Marketwire - May 3, 2012) - DragonWave Inc. (TSX:DWI)(NASDAQ:DRWI) today announced that it has reached an amended agreement for DragonWave's acquisition of Nokia Siemens Networks' microwave transport business including its associated operational support system (OSS) and related support functions. The amended agreement simplifies the transaction, and is intended to provide both companies with greater flexibility to adapt to changing market environments and enhance the delivery of customer-valued product features. In accordance with the amended agreement the planned closing date is June 1, 2012, subject to closing conditions.

Under the terms of the amended agreement, DragonWave becomes the preferred strategic supplier of packet microwave and related products to Nokia Siemens Networks and the two companies are to jointly coordinate technology development activities. The Nokia Siemens Networks microwave transport assets in Italy, including its employees, will not transfer to DragonWave under the amended agreement. DragonWave is to enter into a services agreement with Nokia Siemens Networks for outsourced R&D, product management, sales support and operations functions. This is aimed at enhancing the ability of DragonWave to continue to deliver on critical customer deliveries. The service agreement contemplates the potential transfer of the Microwave Transport assets in Italy to DragonWave upon its termination.

DragonWave believes the acquisition and associated supply agreements will accelerate innovation in backhaul products, supporting world-class microwave solutions for mobile operators. Nokia Siemens Networks is to retain responsibility for its existing solution sales and associated services for microwave transport. DragonWave will be responsible for developing and manufacturing the microwave transport products.

"DragonWave is pleased and proud to be forming this comprehensive strategic partnership with a recognized world-class solutions provider for mobile broadband networks," said DragonWave President and CEO Peter Allen. "I am confident that Nokia Siemens Networks' long-standing, strong relationships with global tier-one mobile operators, combined with DragonWave's focus and proven capability for delivering innovative packet microwave product solutions will create strategic advantage for both partners and positive benefits to customers, employees and shareholders.

"This strategic partnership is truly transformational for DragonWave, bringing us into key new markets throughout the world," continued Mr. Allen. "We believe that through this strategic relationship, customers will receive comprehensive, end-to-end solutions comprising high-quality services and sales support from Nokia Siemens Networks and a full portfolio of industry-best products from DragonWave. Our increased scale and customer footprint, and significantly enhanced resources and capabilities all provide solid pillars for rapid innovation and broader market penetration."

The Business is to be acquired through one of DragonWave's wholly-owned subsidiaries, DragonWave S.à r.l. and other indirect wholly-owned subsidiaries. The purchase price paid on closing will include approximately 11.7 million euros in cash, subject to customary purchase price adjustments, and common shares of DragonWave with a value of 5 million euros which are subject to a lock-up restricting sale or disposition of the shares (subject to customary exceptions). DragonWave will also acquire other assets under a capital asset lease or other deferred sale arrangements with a value of approximately 3.6 million euros. In keeping with the simplification of the transaction, the sales performance based earn-out payments have been eliminated.

DragonWave will finance the transaction through a combination of cash on its balance sheet and increased debt facilities provided by Comerica Bank and Export Development Canada.

The acquisition of the operations in China is expected to be formally completed in the second half of 2012, once all of the licenses and permissions to do so are in place. Approximately 130 employees of Nokia Siemens Networks based in Shanghai would transfer to DragonWave at that time. DragonWave believes that this acquisition provides transferring employees with attractive new opportunities in a solid, technologically advanced company, with its focus on their core areas of expertise.

This transaction is a "significant acquisition" for DragonWave under applicable securities laws and accordingly, DragonWave will file a business acquisition report within the prescribed period.

Conference Call and Webcast

DragonWave will discuss the agreement further in its financial results conference call and webcast on May 3, 2012 beginning at 8:30 a.m. Eastern Time.

Webcast and Conference Call Details: 
Toll-free North America Dial-in:(877) 312-9202
International Dial-in:(408) 774-4000

 

The live webcast will be available: http://investor.dragonwaveinc.com/events.cfm.

About DragonWave

DragonWave is a leading provider of high-capacity microwave solutions that drive next-generation IP networks. DragonWave's carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave's products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave's corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Asia, the Middle East and North America. For more information, visithttp://www.dragonwave.com.

DragonWave® and Horizon® are registered trademarks of DragonWave Inc.

Forward-Looking Information

Certain statements in this release constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information includes, without limitation, statements as to growth opportunities and the potential benefits associated with DragonWave's expected acquisition of the microwave transport business of Nokia Siemens Networks for either Nokia Siemens Networks or DragonWave (referred to below as the "parties") and expectations regarding the business relationship between the parties. Forward-looking information is based on certain assumptions, including: the parties' beliefs regarding the industry and markets in which they operate and expectations regarding potential synergies and prospects for the business to be acquired. This forward-looking information is identified by the use of terms and phrases such as "believe", "expect", "anticipate", "foresee", "target", "estimate", "intended", "designed", "plans", "will" or similar expressions. The acquisition is subject to closing conditions, including no material adverse effect. This acquisition is subject to risks and uncertainties including: the risk that the parties will not proceed with the transaction for any reason; that the ultimate terms of the transaction will differ from those that are currently contemplated; that the expected synergies will not materialize, that unexpected costs will be incurred to integrate the Business, or that end-customer demand will not meet expectations. In particular, material risks and uncertainties for DragonWave following closing of the acquisition will include, without limitation:

  • reliance on Nokia Siemens Networks for a large percentage of DragonWave's revenues;
  • increased cash requirements to fund acquired operations, and associated requirements to comply with debt financing covenants with DragonWave's lenders, which should be understood in light of DragonWave's history of losses;
  • increased exposure to global currency fluctuations;
  • increased regulatory compliance obligations, including possible financial reporting obligations associated with completing a significant acquisition; and
  • risks associated with acquisitions generally as detailed on pages 20 and 21 of DragonWave's Annual Information Form dated May 4, 2011 (the "AIF").

Other risks relating to DragonWave's business and industry can be found in the public documents filed by DragonWave with U.S. and Canadian securities regulatory authorities, including the AIF. These and other risks could cause DragonWave's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. DragonWave assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law.

 

 

 

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GuestLogix to Provide Leading Onboard Retail Solution to FirstGroup Rail Subsidiary

 

Company Extends Rail Industry Market Share Through Partnership With Skytrac

 

TORONTO, ONTARIO--(Marketwire - May 3, 2012) - GuestLogix Inc. (TSX:GXI), the leading global provider of onboard retail and payment technology to the passenger travel industry, today announced the deployment of its onboard retail technology platform including its popular handheld POS devices with rail operator First TransPennine Express. This deployment represents a substantial expansion within the rail sector and adds 24 million annual passenger trips to the Company's market share. The multi-year agreement marks GuestLogix' first implementation with travel-industry caterer Skytrac Group, a key channel partner in Europe.

"Further penetration of the rail industry continues to be a logical extension for GuestLogix," said Tom Douramakos, President and CEO of GuestLogix. "With channel partners such as Skytrac, we are better positioned to more effectively target the market and provide our leading and comprehensive onboard retail technology to rail operators. This market represents a significant long-term opportunity for GuestLogix and as operators are more actively searching for enhanced onboard retail technology, this recent contract win confirms that the GuestLogix' solution meets the industry's unique onboard requirements."

First TransPennine Express is an inter-city rail operation based in the UK that serves Northern England and parts of Scotland. First TransPennine Express is a subsidiary of transportation giant FirstGroup (LSE:FGP) which owns rail and other transportation operations throughout the UK, Scandinavia, the US and Canada.

Catering and logistics company Skytrac was selected from six competing providers to supply full-service catering support to First TransPennine Express. Skytrac presented the GuestLogix' solution, and the XPDA-V handheld POS device, as part of its comprehensive best-of-breed onboard retail offering. Skytrac serves customers in both the rail and air industries within Europe.

"GuestLogix proved to be a key component to our win with First TransPennine Express," said Peter Whittaker, Chairman and Chief Executive of Skytrac Group. "Their technology certainly met the requirements of this new deployment and we look forward to additional agreements as our partnership continues its growth."

"Our commitment to Skytrac and First TransPennine Express goes hand-in-hand with our commitment to provide our partners with first-rate local customer delivery service and support," said Richard Cushing, SVP & General Manager of GuestLogix Europe. "Skytrac has an impressive track record and continues to show excellence in every component of their offering. We are thrilled with our joint solution and travel operators are responding positively."

To learn more about GuestLogix, please visit: www.guestlogix.com.

About GuestLogix Inc.

GuestLogix (TSX:GXI), the leading global provider of onboard store technology and merchandising solutions, helps airlines and other travel operators create, manage, and control onboard retail environments tailored to their needs and their passengers. GuestLogix brings a decade of expertise as a trusted onboard transaction processing partner to airlines around the world. The Company's global headquarters and centre for product innovation is located in Toronto, Canada with regional head offices located in Dallas, Texas (serving Americas) London, UK (serving EMEA), and Hong Kong (serving Asia Pacific). A sales and support office is located in Singapore. Logistics centres are situated in Toronto, Dallas, London and Seoul with a software development centre located in India. More information is available at www.guestlogix.com.

About Skytrac Group

The Skytrac Group operates from two strategically located service hubs in the United Kingdom, and has been supporting the travel industry for more than 15 years, providing innovative catering and onboard retail products, product development and packaging solutions for travel operators. Skytrac is recognised as one of the most efficient warehousing and logistics services to the industry, working with airlines and travel operators including FlyBe, Virgin Atlantic, Easyjet, Loganair, Thomson Airways, Thomas Cook, LSG SkyChefs, and Gate Gourmet, Virgin Trains, BA, Etihad, Emirates, and Saudi Air. The company recently expanded into the rail sector, providing catering logistics for First Scot Rail and First Transpennine Express, and more information can be found at www.skytrac.co.uk.

© 2012 GuestLogix. All rights reserved.

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on February 27, 2012 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

 

 

 

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Mercuria Advances into Global Metals Markets

GENEVA, SWITZERLAND--(Marketwire - May 3, 2012) - Mercuria Energy Group, one of the world's largest energy & commodities trading companies, announces an expansion of its global trading activities into base metals. The business will be located in both London and Shanghai and will be staffed through several experienced high profile hires from major existing market participants. The London operations will be led by Ben Green and Liam Brown, both previously senior metals traders with Goldman Sachs commodities group. During his time with Goldman's, Ben also held the position of Chairman of the LME Traded Options Committee.

 

The Shanghai operation will initially be staffed with up to fifteen new hires who will expand upon Mercuria's already substantial energy trading business presence in the region, through strong regional and global trading relationships. The two trading groups will collaborate closely and will primarily be focused on the trading of Copper, Aluminium, Zinc, Nickel, Tin and Lead, spanning the London Metals Exchange, Nymex and Shanghai.

 


Contacts:
Media Contact:
Mercuria Communications
Sophie Caverzasio
+41 22 595 88 55
scaverzasio@mercuria.com

 

 

 

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