PIC

Hendersonville, TN, United States
Hendersonville, TN, United States

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"PIC is looking forward to progressing the development of this Project into FEED stage. Establishing a Joint Venture with Pembina and investing in a large-scale value-addition project will contribute to PIC's continued pursuit of sustainable and globally-diversified petrochemical growth," said Mrs. Hosnia Hashim, PIC's Deputy Chief Executive Officer, Olefins and Aromatics. "This Joint Venture between PIC and Pembina will be positioned to flourish in a competitive market with access to secure and advantaged feedstock. PIC welcomes the support of the local governments in this initiative and is looking forward to potentially expanding its asset base within Alberta." "It's encouraging to see another milestone along the way on a project that will help diversify the type of energy products we produce here in Alberta," said Margaret McCuaig-Boyd, Alberta's Minister of Energy. "Our government is committed to creating good jobs in the industry through investments in world-class petrochemical facilities like this one." The decision to proceed with FEED, execution of definitive Joint Venture agreements and the establishment of CKPC represent major milestones for Pembina and PIC. Deliverables of FEED include a refined capital cost estimate, a project execution plan, regulatory applications, an updated construction schedule and projected in-service date, among numerous other items. The anticipated cost of FEED is expected to represent approximately 2.0 percent to 2.5 percent of the Project's current cost estimate. FEED activities are expected to be completed by late 2018, followed by a final investment decision ("FID") from each partner. The proposed PDH/PP Facility is expected to consume 22,000 barrels per day of Alberta-produced propane, which is expected to be sourced from Pembina's Redwater Fractionation Complex ("RFS"), as well as other regional facilities. The Project is anticipated to produce in excess of 1.2 billion pounds per year of polypropylene which would be transported to North American and global markets. Subject to required approvals and a positive FID, the Joint Venture expects to construct the PDH/PP Facility in close proximity to RFS in Sturgeon County, part of Alberta's Industrial Heartland. The preliminary capital cost estimate of the Project is $3.8 - $4.2 billion (gross). Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America's energy industry for over 60 years. Pembina owns and operates an integrated system of pipelines that transport various products derived from natural gas and hydrocarbon liquids produced primarily in western Canada. The Company also owns and operates gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. Pembina's integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to working with its community and aboriginal neighbours, while providing value for investors in a safe, environmentally responsible manner. This balanced approach to operating ensures the trust Pembina builds among all of its stakeholders is sustainable over the long term. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. Pembina's preferred shares also trade on the Toronto stock exchange. For more information, visit www.pembina.com. Petrochemical Industries Company K.S.C ("PIC") founded in 1963 is a subsidiary of Kuwait Petroleum Corporation ("KPC"). Today, PIC is a regional petrochemical industry leader. In addition to manufacturing and marketing fertilizers, olefins and aromatics in Kuwait, PIC participates in multiple joint ventures that also produce and market petrochemical products both locally and internationally. PIC has been operating in Alberta since 2004 through various investments including those in the petrochemical industry. This document contains certain forward-looking statements and information (collectively, "forward-looking statements") that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "expects", "will", "would", "could", "plans", "anticipates", "schedule", "potential" and similar expressions suggesting future events or future performance. In particular, this document contains forward-looking statements, pertaining to, without limitation, the following: the anticipated timing of the feasibility study, the final investment decision and the potential in-service date of the project, the expected economic benefits and anticipated production of polypropylene, the expected capacity and supply from the facility, and markets for polypropylene, expected capital expenditures for the Project, the method of transportation of polypropylene, demand for propane and the benefits therefrom, Pembina's corporate strategy; planning, capital expenditure estimates, expected business partners, growth opportunities and benefits thereof. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things, that favourable growth parameters continue to exist in respect of current and future growth projects, oil and gas industry exploration and development activity levels and the geographic region of such activity; ongoing utilization and future expansion, development, growth and performance of Pembina's business and asset base; future demand for processing, fractionation and pipeline transportation services and new opportunities; prevailing commodity prices and exchange rates and the ability of Pembina to maintain current credit ratings; future operating costs; geotechnical and integrity costs; that any required commercial agreements can be reached; that all required corporate, regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; that counterparties will comply with contracts in a timely manner; that there are no unforeseen material costs relating to the facilities which are not recoverable from customers; interest and tax rates; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; the amount of future liabilities relating to environmental incidents; and the availability of coverage under Pembina's insurance policies (including in respect of Pembina's business interruption insurance policy). Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the results of the feasibility study, the regulatory environment and the ability to obtain required regulatory, corporate, environmental approvals; the impact of competitive entities and pricing; labour and material shortages; strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities including changes in tax laws and treatment, changes in royalty rates or increased environmental regulation; fluctuations in operating results; adverse general economic and market conditions in Canada, North America and elsewhere, including changes in interest rates, foreign currency exchange rates and commodity prices; and certain other risks detailed from time to time in Pembina's public disclosure documents available at www.sedar.com. This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this document speak only as of the date of this document. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements contained herein, except as required by applicable laws. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. All financial figures are in Canadian dollars, unless otherwise noted.


News Article | May 25, 2017
Site: www.engineeringnews.co.za

The Government Employees Pension Fund (GEPF) on Thursday assured that it was not funding the recapitalisation of ailing national airliner South African Airways (SAA), nor had it been approached to contribute. Speculation emerged last week that the GEPF’s assets will be used, through its fund manager Public Investment Corporation (PIC), to fund SAA, after the National Treasury told the National Assembly that it was considering various options to recapitalise the State-owned national carrier, including the PIC as a public equity partner. Trade union Solidarity last week raised concerns over what impact this would have on the GEPF, stating that SAA was haemorrhaging an estimated R250-million a month and that the retirement money of government employees should not be used to bail out the airline. “The GEPF would like to reiterate and to assure its members, pensioners and beneficiaries that their pension savings are safe,” the group said in a statement on Thursday, pointing out that the fund had not received nor had it been approached with such a proposal and no discussions have been held with GEPF on this matter. While the GEPF said it received many requests through the PIC, it rigorously considered the merits of all investment opportunities and adhered to strict regulations governing its financial liability to members, beneficiaries and pensioners, as well as its financial soundness. “Moreover, the GEPF has confidence in the PIC’s ability to prudently invest funds on its behalf in terms of the agreed investment mandate,” it said, concluding that the fund constantly monitors and evaluates the PIC’s performance in accordance with its investment policy and mandates.


DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "European Regulatory Procedures - Comprehensive Overview of EMA and National Requirements and other Agencies" conference to their offering. This seminar will provide an overview and in-depth snapshot of the regulatory process with EMA and other regulatory authorities. Individuals desiring a comprehensive overview of the regulatory filing requirements in Europe, including personnel within Regulatory Affairs in the pharmaceutical, biopharmaceutical and generic drug industries, as well as experienced professionals requiring a "refresh" will find this seminar beneficial. - EMA has a 20-year track record of ensuring efficacy and safety of human and veterinary medicines across Europe, and promoting research and innovation in the development of medicines. - In its first two decades, the Agency recommended the authorization of a total of 975 human and 188 veterinary medicines. - EMA's success is based on cooperation within the European medicines regulatory network - a unique partnership between the European Commission, the medicines regulatory authorities in the European Economic Area countries, and EMA. Working together has encouraged the exchange of knowledge, ideas and best practices, to ensure the highest standards in medicines regulation. - Today, seven EMA scientific committees and more than 30 working parties provide scientific expertise for the regulation of medicines by drawing on a pool of several thousand European scientific experts from the network. - And Much More... - EMA and many NCAs are involved in the Pharmaceutical Inspection Convention and the Pharmaceutical Inspection Co-operation Scheme (jointly referred to as PIC/S), a close international cooperation between pharmaceutical inspection authorities in the field of GMP - The legal basis and main features of the various types of authorizations - Evaluate the various options for the submission of a marketing authorization application for regulatory strategy for the compound in the EU - As a bonus, identify the necessary steps needed to prepare for, and survive, an EMA inspection For more information about this conference visit http://www.researchandmarkets.com/research/wnz796/european


News Article | May 23, 2017
Site: www.engineeringnews.co.za

Trade union Solidarity is demanding answers about whether the Government Employees Pension Fund (GEPF) is considering recapitalising “sinking ship” South African Airways (SAA) through the Public Investment Corporation (PIC), as the union’s members have a direct interest in the proper management and investment of the GEPF’s funds. Recent media reports have suggested that the National Treasury is considering a number of avenues to finance SAA, with one of the proposals being that the PIC become a public equity partner to SAA. The State-owned airline was currently haemorrhaging funds, estimated at R250-million a month, with its latest group income statement to Parliament’s Standing Committee on Finance showing a loss of R4.5-billion for the 2016/17 financial year, versus a budgeted loss of R1.4-billion. Solidarity special projects head Schalk de Bruin said it was perturbing that the retirement money of “hard-working” government employees could possibly be used to save the national carrier. In an open letter to GEPF CEO Abel Sithole, Solidarity further demanded that more clarity be given about the situation. “We expect the GEPF to disclose the full extent of the [proposed] recapitalisation and to consult with its members about it as well,” De Bruin said. Meanwhile, the Health and Other Service Personnel Trade Union of South Africa (Hospersa) also slammed the National Treasury for considering using the GEPF to bail out the airline. “Hospersa is shocked that government is considering using employees’ pension funds to rescue SAA. For the majority of employees in the public service, the pension fund is their only investment for the future. To use the fund to bail out State-owned entities, especially those plagued with alleged corruption and maladministration, would be reckless,” said Hospersa general secretary Noel Desfontaines. He added that the union would take government to task should the employees’ pension funds be misused by those entrusted with its management.


Private Equity funds and Real Estate funds are created in PackHedge™ by defining purchase unit(s) based on “amount” as opposed to “shares/price” and by defining the behavior as standard or Private Equity so that any type of fund instrument based on amounts can be created and used like any other investment vehicle in PackHedge™. The capital accounting based investment vehicles can be defined for Funds and Custom Instruments of any type. One or any number of Private Equity funds or Real Estate funds can be included in Portfolios with any mix of any other types of investment vehicles (e.g. Hedge funds, Mutual funds, Equities etc.) for portfolio construction, management, tracking, analysis and reporting. All the necessary information can be captured as transactions, for Private Equity funds this includes contributions, capital calls, distributions, withdrawals, contributions and distributions either inside or outside commitments, remaining commitments, fees, etc. and for Real Estate funds this includes, capital invested, mortgages, rental income, expenses, fees, etc. Portfolios holding positions in Private Equity, Real Estate and other investment vehicles provide all the appropriate information in the form of capital accounts, cash flow what-if/projections/analysis, balance sheet, P&L, etc. as well as all the extensive reporting capabilities and analytical functions available with PackHedge™ including statistics, contribution analysis (by asset, style, any segment, etc.), risk return, attribution analysis, style analysis, peer group analysis, portfolio optimization, sensitivity analysis, stress testing, scenario analysis, principal component analysis, cluster analysis, etc. For example, the cash flow analysis overview provides the to-date and projected cash flows, net out of pocket, net cash flows, JCurve and Lorenz Curve views. Other views include; cash flow performance (IRR, MWR, TWR), all the Private Equity Ratios (TPVI, RPVI, DPI, PIC, etc.), Private Equity Public Market Equivalents or PMEs (Long Nickels, Plus, Modified, Direct Alpha, KS, etc.) and Private Equity what-if scenarios. “Asset managers are managing mixed portfolios with not only a broad range of all the alternative investment vehicles but also a broad range of all the traditional investment vehicles,” FinLab’s CEO, Denis de Pentheny O’Kelly stated. “Investment managers are selecting PackHedge™ today because it is the solution that provides coverage of the broadest set of investment vehicles together with the most extensive quantitative and qualitative research and analysis platform, the most flexible, easy to use and powerful reporting engine and comprehensive CRM, document management and workflow management tools.”


News Article | May 1, 2017
Site: www.eurekalert.org

UC Santa Barbara engineering professor Larry Coldren has received the 2017 Nick Holonyak, Jr. Award from the Optical Society of America (OSA) in recognition of his "major contributions to photonic integrated circuits." The award is presented annually to an individual who has made significant contributions to optics based on semiconductor-based optical devices and materials, including basic science and technological applications. "This is indeed a major honor," said Coldren, a professor in the Department of Electrical and Computer Engineering in UCSB's College of Engineering. "It is especially important to me, because it honors Professor Holonyak, who I have known and respected all of my professional career, and it is also endowed by Don Scifres with his wife and company, people I have also known and respected for a long time. We have all worked in similar areas for many years." The demand for and proliferation of internet-enabled devices, from computers and smartphones to wearables and "smart" appliances, stand to put a strain on existing telecommunications infrastructure. Engineers and scientists have looked to harness the power of light for its speed, capacity and energy efficiency in managing the tidal wave of data. But to get that information to and from lightwaves into our electronic devices, a transition has to be made -- and that comes in the form of the photonic integrated circuit (PIC), through which optical and electronic elements are combined. Coldren's most notable work in the field includes widely tunable lasers and vertical cavity-surface-emitting lasers. He also wrote a textbook on diode lasers and PICs, now in its second edition, that for the past two decades has been the most popular on the subject. "Larry Coldren has an extensive record of making important contributions in photonics, both as a world-renowned researcher and technological entrepreneur and as a teacher, as evidenced by his widely used photonics textbook," said UCSB College of Engineering Dean Rod Alferness. "We at the College of Engineering offer Larry our warmest congratulations for receiving the OSA's Nick Holonyak, Jr. Award for 2017." Coldren, who joined the Department of Electrical and Computer Engineering in 1984, also is a professor of materials at UCSB. He served as acting dean of the College of Engineering from 2009 -11, and is currently the director of the campus's Optoelectronics Technology Center and the Solid State Lighting & Energy Electronics Center. Coldren is a fellow of the Institute of Electrical and Electronics Engineers, the OSA and the Institute of Electronics Engineers in the UK. In addition, he is a member of the National Academy of Engineering and the National Academy of Inventors. Established in 1997, the OSA award honors Nick Holonyak, Jr., who has made distinguished contributions to the field of optics through the development of semiconductor based light emitting diodes and semiconductor lasers.


News Article | April 24, 2017
Site: www.marketwired.com

OTTAWA, ONTARIO--(Marketwired - 24 avril 2017) - Les syndicats saluent l'annonce d'aujourd'hui que le gouvernement fédéral va revenir sur sa position en appuyant pleinement l'inscription de l'amiante chrysotile à la liste de substances dangereuses réglementées en vertu de la Convention de Rotterdam. « Les syndicats ont vivement et longtemps fait campagne pour l'interdiction de l'amiante afin de rendre les milieux de travail et les espaces publics plus sécuritaires pour tous les Canadiens et Canadiennes, mais aussi pour les populations du monde entier qui étaient exposées à l'amiante », a déclaré Hassan Yussuff, président du Congrès du travail du Canada. L'Organisation mondiale de la santé a reconnu l'amiante comme un agent cancérigène pour les humains en 1987. Toutefois, depuis de nombreuses années, le Canada a continué à soutenir les exportations d'amiante en minimisant dans le monde entier les dangers de l'agent cancérigène. Le gouvernement Harper est même allé jusqu'à bloquer l'inscription de l'amiante chrysotile sur la liste de la procédure de consentement préalable en connaissance de cause (PIC) de la Convention de Rotterdam - une position qui a été vivement critiquée par les syndicats, les groupes de protection de la santé et de la sécurité et la communauté internationale. Aujourd'hui, la ministre fédérale de l'Environnement Catherine McKenna a annoncé que son gouvernement va préconiser l'inclusion de l'amiante chrysotile dans la Convention de Rotterdam lors de la huitième réunion de la Conférence des Parties à Genève la semaine prochaine. Le Congrès du travail du Canada enverra une délégation à Genève pour demander à la communauté internationale de soutenir également l'inclusion de l'amiante chrysotile dans la liste. « Nous avons travaillé avec le gouvernement l'année dernière pour obtenir une interdiction complète de l'importation et l'exportation de l'amiante ici au Canada, et nous sommes encouragés de voir le Canada exercer son leadership international sur cette question. Nous espérons que cela aidera les pays partout au monde à prendre de meilleures décisions, en étant davantage informés sur les véritables dangers de l'amiante », a ajouté M. Yussuff.


News Article | April 21, 2017
Site: www.marketwired.com

OTTAWA, ONTARIO--(Marketwired - April 21, 2017) - Canada's unions applauded today's announcement that the federal government will reverse its position by fully supporting the listing of chrysotile asbestos among hazardous substances regulated under the Rotterdam Convention. "Unions campaigned long and hard for a ban on asbestos to make workplaces and public spaces safer for all Canadians, but also people around the world who were being exposed to asbestos," said Canadian Labour Congress President Hassan Yussuff. The World Health Organization declared asbestos a human carcinogen in 1987. However, for many years, Canada continued to bolster asbestos exports by downplaying the dangers of the carcinogen internationally. The Harper government even went so far as to block the addition of chrysotile asbestos to the Rotterdam Convention Prior Informed Consent (PIC) list - a position that was roundly criticized by Canada's unions, health and safety advocates, and the international community. Today, federal Environment Minister Catherine McKenna announced that her government will advocate for the inclusion of chrysotile asbestos in the Rotterdam Convention at the upcoming eighth meeting of the Conference of the Parties in Geneva next week. The Canadian Labour Congress will be sending a delegation to Geneva to call on the international community to support the listing of chrysotile as well. "We worked with the government last year to secure a comprehensive ban on the import and export of asbestos here in Canada, and we are encouraged to see Canada taking international leadership on this issue. We hope this will help countries around the world make better decisions, more fully informed about the true dangers of asbestos," Yussuff added.


News Article | May 5, 2017
Site: www.marketwired.com

Leading supplier for Reed Sensors centralizes distribution channel; Announce plans to Exhibit at Sensors Expo Show in San Jose, CA ATLANTA, GA--(Marketwired - May 5, 2017) -  PIC, a leading manufacturer of reed sensor technology, has expanded its relationship and appointed World Micro as its exclusive North American distributor. The move deepens the existing relationship, allows for more efficient services, and centralizes its distribution for the Americas. PIC's emphasis on product lines include reed switches, sensors, hall sensors, and magnets. World Micro Director of Supplier Development, Bettina Clark, commented, "With current production facilities in China and Turkey, PIC focuses on high production quality, strong relationships, and efficient distribution. By advancing our relationship, PIC now has improved distribution and sales presence in Asia, Europe and the Americas." Kai Hold, Marketing Manager with PIC, states, "PIC is excited to extend the cooperation with World Micro even further by appointing them as the one and only distributor in the United States. With this move, PIC hopes to strengthen the impact on the US market. Taking into account that more companies have their production and R&D facilities in various states, we now have one contact partner -- regardless of where they are based. To kick-off our joint activities on the west coast PIC and World Micro staff will be available at the Sensors Expo Show in San Jose, CA (June 28-29, Booth #219) to present the whole PIC product range of Switches and Sensors including some new developments which will be announced in a few weeks' time." ABOUT: PIC GmbH: PIC Proximity Instrumentation Controls Kontaktbauelemente GmbH is a globally operating company based in the Nuremberg area. PIC GmbH has been one of the leading suppliers of Reed Sensor Technology for several years. Highly technical competencies, long-time experience and the ability to innovatively implement our customers' needs make us the ideal partner for the home appliances, automotive, medical, and measure-and-control industry. ABOUT: World Micro, Inc., is a global electronic components and products distributor headquartered in Atlanta, Georgia. For more information about World Micro and their office locations, please visit http://www.worldmicro.com/. World Micro can be followed on Twitter at twitter.com/worldmicro. MIT Holdings, LLC is a wholly owned subsidiary of World Micro.


News Article | May 5, 2017
Site: www.marketwired.com

Leading supplier for Reed Sensors centralizes distribution channel; Announce plans to Exhibit at Sensors Expo Show in San Jose, CA ATLANTA, GA--(Marketwired - May 5, 2017) -  PIC, a leading manufacturer of reed sensor technology, has expanded its relationship and appointed World Micro as its exclusive North American distributor. The move deepens the existing relationship, allows for more efficient services, and centralizes its distribution for the Americas. PIC's emphasis on product lines include reed switches, sensors, hall sensors, and magnets. World Micro Director of Supplier Development, Bettina Clark, commented, "With current production facilities in China and Turkey, PIC focuses on high production quality, strong relationships, and efficient distribution. By advancing our relationship, PIC now has improved distribution and sales presence in Asia, Europe and the Americas." Kai Hold, Marketing Manager with PIC, states, "PIC is excited to extend the cooperation with World Micro even further by appointing them as the one and only distributor in the United States. With this move, PIC hopes to strengthen the impact on the US market. Taking into account that more companies have their production and R&D facilities in various states, we now have one contact partner -- regardless of where they are based. To kick-off our joint activities on the west coast PIC and World Micro staff will be available at the Sensors Expo Show in San Jose, CA (June 28-29, Booth #219) to present the whole PIC product range of Switches and Sensors including some new developments which will be announced in a few weeks' time." ABOUT: PIC GmbH: PIC Proximity Instrumentation Controls Kontaktbauelemente GmbH is a globally operating company based in the Nuremberg area. PIC GmbH has been one of the leading suppliers of Reed Sensor Technology for several years. Highly technical competencies, long-time experience and the ability to innovatively implement our customers' needs make us the ideal partner for the home appliances, automotive, medical, and measure-and-control industry. ABOUT: World Micro, Inc., is a global electronic components and products distributor headquartered in Atlanta, Georgia. For more information about World Micro and their office locations, please visit http://www.worldmicro.com/. World Micro can be followed on Twitter at twitter.com/worldmicro. MIT Holdings, LLC is a wholly owned subsidiary of World Micro.

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