News Article | March 1, 2017
Sustainable Petroleum Group Inc. (the "Company") (OTCQB SPGX) is pleased to announce the appointment of additional officers and directors to further strengthen its management team and the implementation of its business strategy. Effective February 13, 2017, Christian Winzenried was appointed by the board of directors as the new President and CEO of SPGX. During the past five years, Mr. Winzenried has been an entrepreneur and executive officer in several companies in IT, Financial Services, Banking, Consulting and Lifestyle; most notably with zeb/ (a top management consultancy focusing on strategy, marketing, pricing and sales) where he was responsible for the development of business projects in the regional markets of Germany, Switzerland and Austria. For more than 20 years, Mr. Winzenried has taught Management and Leadership as well as SME Startup Founding processes at several Business Management Schools. He graduated with degrees in Leadership, Management of MIS/IT, Marketing and Economics. Also, on February 13, 2017 both Christian Winzenried and Stefan Mühlbauer were appointed as additional directors of SPGX. The board of directors of SPGX currently consists of Christian Winzenried (President and CEO), Suha Hächler (CFO, Treasurer, and Corporate Secretary), Stefan Mühlbauer (Chief Communications Officer), and Dr. Philip Grothe. Suha Hächler has been an entrepreneur and executive officer in several companies, including Xerox AG, where he was involved with the development and implementation of printing systems. Mr. Hächler is currently teaching business management consultancy at the international school Gustav Käser in Switzerland and also studied economics at the international school HSG St. Gallen in Switzerland. Dr. Philip Grothe has served as the CEO of alimex Group, a leading aluminum company, since 2014. Prior to joining alimex Dr. Grothe was partner and shareholder of Simon, Kucher & Partners, a top management consultancy focusing on strategy, marketing, pricing and sales. Dr. Grothe began his career at Deloitte Consulting where he worked as a manager and project leader in numerous marketing and sales projects. Dr. Grothe graduated with a degree in Economics and obtained his PhD in Strategic Management. Stefan Mühlbauer has served as CEO of Arma Communications Inc, a business development and marketing Agency in Naples, Florida since 2013. Additionally Mr. Mühlbauer serves as managing partner for Eagle Run Capital Inc. Previously, Mr. Mühlbauer held positions with various leading investment banks in Europe. Mr. Mühlbauer was the Chief Operating Officer at Silvia Quandt & Cie AG where he was responsible for building up the institution's research and corporate finance activities. Mr. Mühlbauer received his degree in Finance from the University of Miami. Christian Winzenried, the CEO of SPGX stated: "Together we are a very diverse management team with many years of expertise in leadership roles across a broad range of industries. As a team we look forward to developing continued shareholder value." About Sustainable Petroleum Group Inc. SPGX as a member of SP Group is positioned to become a world leading natural resources holding and development company through value based investments and collaborative partnerships with global leaders across the natural resources sector. SP Group has initiated its goals by pursuing investment and partnerships with some of the most diversified and integrated companies available on the market. On behalf of Sustainable Petroleum Group Inc. Christian Winzenried Chief Executive Officer CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology. These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire assets or projects on commercially viable terms; challenges to our title to our assets; operating or technical difficulties in connection with our development activities; currency fluctuations; and governmental regulations. Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10-KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities and Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities and Exchange Commission at 1-800-SEC-0330. The U.S. Securities and Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities and Exchange Commission at http://www.sec.gov. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws. This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.
News Article | February 23, 2017
Whether you’ve just got yourself a Canon DSLR like the EOS 1300D / EOS Rebel T6 or 750D / Rebel T6i, or have owned one for a while, the camera and the bundled 18-55mm kit lens it just the start. The beauty of investing in a DSLR is that while they can be used straight out of the box, there’s a world of accessories out there to help you really harness their power and take even better shots. These include additional lenses, filters, tripods and a host of other accessories. But with so much choice, where to begin? We’ll point you towards some of the key items of kit you’re likely to want to invest in, and offer suggestions for each. While your 18-55mm kit lens is fine for general photography, its relatively 'slow', in that the maximum aperture available is quite limited. That’s where a prime lens comes in. Often offering a much faster maximum aperture, they let in more light, allowing you to shoot handheld in much poorer lighting conditions. Not only that, but the faster maximum aperture means you can achieve pro-looking shallow depth of field effects to isolate your subject. They come in a range of focal lengths, but our pick would be the Sigma 30mm f/1.4 DC HSM | A; giving roughly the same field of view as the human eye on a Canon APS-C DSLR, it’s what’s termed a ‘standard’ prime. A must for any photographer. Read more: 9 things you should know about prime lenses The next lens you’ll probably want to add to your collection is a telephoto zoom. Not only are these perfect for action and wildlife photography, they’re also great for picking out details in landscapes and shooting tightly cropped portraits or candids. While pros tend to favour the 70-200mm f/2.8 telephoto zoom, they’re heavy and expensive, which is why we’ve picked the Tamron SP 70-300mm f/4-5.6 Di VC USD. Offering more reach than a 70-200mm, while also being more compact and affordable, this is a great choice for those looking to pull in even distant subjects – and it comes with Vibration Control (Tamron’s anti-shake system) built in. Read more: The best telephoto zoom lenses for Canon DSLRs You’ve probably found that your Canon 18-55mm ‘kit’ lens is pretty wide, but not quite wide enough for some subjects. An ultra wide-angle zoom lens can offer a field of view almost be twice as wide, making it perfect for cramped interiors, big city landmarks, sweeping landscapes and surreal close-ups. Our pick would be Sigma’s 10-20mm f/3.5 EX DC HSM, but it’s worth remembering that this lens is only compatible with APS-C cameras, so if you’re planning to upgrade to a full-frame camera later you’ll have to trade this lens in as well. Read more: The best wide-angle zoom lenses for Canon DSLRs The built-in flash on your camera is fine for the odd bit of fill-in flash, but it isn’t powerful enough to do much more than that, which is why you need a dedicated flashgun (or Speedlite, as Canon calls its own models). Not only do they have much more power than a built-in flash, the head can be tilted and swivelled to change the quality of the light – for example you can bounce the flash off walls and ceilings for a much more flattering look. And that’s not all, as you also have the option to take a flashgun off your hotshoe and fire it remotely – it does this when detects another flash firing, typically your built-in one, with the power dialled in on the camera, depending on the model. Or for greater range you can trigger them via a radio trigger (bought separately). Either way you can sculpt the light for a much more professional look, as well as combining multiple flashguns. Canon offers a host of dedicated models like the Speedlite 430EX III RT, but there are plenty of great third-party options, and one of our favorites is the Metz 52 AF-1. Despite the advent of digital, lens filters still have their place, and none more so than the humble Skylight or UV filter, such as Hoya's HMC UV filter. Completely clear in appearance, these have no affect on the final image, but the name of the game here is to protect the front element of your lens. Rather than being lumbered with a hefty repair bill if you scratch or break the front of your lens, it’s much better to let a Skylight filter take the hit. Because the front element of lenses are different sizes, you’ll need to make sure you get the right size – you’ll often find this marked in mm around the front of the lens, or on the inside of your lens cap. Balancing the exposure between a bright sky and a darker foreground can be tricky, particularly in landscapes and sunrise/sunset shots. You can try and recover shadow and/or highlight detail in Photoshop or Lightroom, but you can get much better results in-camera with a traditional optical graduated neutral density (ND) filter. Because you need to move the filter up and down to adjust the transition from clear to dark, the square filter system is the only real option for ND grads, and our pick is from the brand favoured by professionals, the Lee Digital SLR Starter Kit. You get a 100mm filter holder (although you'll have to get an adaptor ring for your lens separately), a 2-stop hard grad for darkening skies, and a 2-stop neutral density filter to enable you to use slower shutter speeds, for example to blur movement in water and clouds. While you may not want to shoot with a tripod all the time (although some photographers never do anything else), a stable set of legs is an essential item of photographic kit. It’s all too easy, however, to be tempted to go for one of the cheapest models you see – after all, how different can one set of legs be to another? You’d be surprised. Dirt-cheap tripods are cheap for a reason – they’re often very flimsy, with quite a bit of flex, making them essentially useless. Spend a bit more and you’ll get something much more durable and stable. You can spend even more and get carbon fibre models, which are just as strong but lighter, while there are also specialist tripods for travel and macro photography. For a good balance between weight, size and price you’re not going to go far wrong with the Manfrotto MT190XPRO3. It offers decent load-bearing capacity and a more than adequate maximum working height, while the centre column can also be positioned horizontally for low-angle shooting. Read more: Best tripods and camera supports While some cheaper tripods normally come with an integrated tripod head, or with a separate head included (there are some pricier options that do as well), most photographers like to choose their own tripod head to go with their set of legs. Three-way pan-and-tilt heads offer plenty of control, so are ideal for studio and close-up photography, while ball-head tripods are more compact and much quicker to use – landscape photographers love them as they’re easier to carry and quick to use on location – and there are also dedicated video heads for videographers. Our pick would be Manfrotto’s XPRO ball head, but there are plenty of choices out there to suit the kind of photography you enjoy. If you’re going to be using your Canon camera regularly you’re going to want to keep it in good condition – wiping away a finger mark on the front of your lens with the back of your sleeve isn’t recommended. Something like the Vanguard CK6N1 6-in-1 camera cleaning kit is perfect. The power lens cleaner includes a soft-tip graphite dispenser and a microfiber cleaning cloth for polishing, while it also works as a blower brush too. The kit also includes a 60ml cleaning solution spray bottle, and pre-moistened and dry lens-cleaning wipes, while there's also a microfibre cleaning cloth to ensure your kit is always spotless. Don’t just plump for the cheapest memory card you find, as cards can vary dramatically in quality. You'll want a card with decent read and write speeds to ensure your camera can always keep writing data to the card – cheap but slow cards can mean your movies are cut short, or you might miss a shot as the card can't keep up with your camera.
News Article | March 1, 2017
- Joint venture, SilkrouteAsia Asset Management, will focus on real estate advisory, investment structuring and co-investments with strategic partners - Target markets are US, China, Japan, South Korea, Hong Kong, Singapore and Malaysia - Real estate veteran Steven Loh will head SilkrouteAsia Asset Management New Silkroutes Group Limited ("NSG" or the "Group") announced today its foray into real estate investment with the launch of a joint-venture company that will focus on residential and commercial projects in the world's three largest economies and several other Asian markets. New Silkroutes Capital Pte Ltd, NSG's wholly-owned investment arm, has a 35% stake in the new company, SilkrouteAsia Asset Management Pte Ltd, which will focus on real estate advisory, deal originations and investment structuring. Singapore-based SilkrouteAsia Asset Management will also co-invest in projects with strategic partners. SilkrouteAsia Asset Management's target markets are the United States, China, Japan, South Korea, Hong Kong, Singapore and Malaysia. It will identify projects in these markets, source for investors, and seek to optimise or unlock value in these properties. The other shareholders in SilkrouteAsia Asset Management are Mr Steven Loh, who has a 50% stake and will head the joint venture, and Global & Advisory Investments Pte Ltd, which owns 15%. Mr Loh is a former country asset manager for South Korea, China and Japan at the real estate arm of Singapore sovereign wealth fund GIC. He was previously also a senior vice president at MEAG Pacific Star Asset Management Pte Ltd, a real estate joint venture between MEAG Munich Ergo Asset Management GmbH and Pacific Star Group. He was also the group asset manager overseeing the investment properties of DBS Land before it merged with Pidemco Land in 2000 to form CapitaLand. Mr Loh sits on the boards of OUE Commercial REIT Management Pte Ltd, the manager of Singapore-listed OUE Commercial REIT; and Gemdale Properties and Investment Corporation Limited, a developer listed in Hong Kong. He is also a non-independent director of EFA RET Management Pte Ltd, an affiliate of EFA Group. He and a few high net worth individuals are investors in The Ritz-Carlton Residences at LA Live, a 224-unit luxury condominium in Los Angeles. They also acquired 69 of the 223 apartments at The W New York Downtown Hotel and Residences. "I have known Steven for several years now and have come to appreciate his sharp acumen in identifying and seizing opportunities for attractive property deals. I believe SilkrouteAsia Asset Management, under Steven's leadership, will become a sought-after partner for real estate owners and institutional investors," said Mr Francois Dotta, the sole shareholder of Global & Advisory Investments. Mr Dotta is also the CEO and co-founder of EFA Group Pte Ltd, an independent fund manager and trade-finance specialist regulated by the Monetary Authority of Singapore. He is invested in SilkrouteAsia Asset Management in his personal capacity and is a non-executive director in the joint venture. Dr Goh Jin Hian, NSG's CEO, said: "Over the past two years, we have laid the necessary foundations to develop core capabilities in energy trading, healthcare management and infocomm technology. This joint venture marks our foray into real estate investment, which completes the business verticals that NSG has identified for itself as an investment holding company. Steven's extensive contacts and networks in the United States and Asia will be extremely useful in building up this new business." About New Silkroutes Group Limited New Silkroutes Group (Bloomberg: NSG SP) is a Singapore-incorporated company (established on 25 January 1994) listed on the Mainboard of Singapore Exchange Securities Trading Ltd (SGX). It is evolving into an investment holding company with core competencies in Capabilities Enablement, Capital Allocation, and (Policy) Analysis. The group, through its subsidiaries and associate companies, has exposure to key sector verticals, namely Energy/Resources, Healthcare, Real Estate and Infocomm Technology with a focus on Security & Governance. Please visit www.newsilkroutes.org. For enquiries, please contact: New Silkroutes Group Limited Email: WeR1Consultants Pte Ltd 3 Phillip Street, #12-01, Royal Group Building Singapore 048693 Tel: +65 6737 4844 Frankie Ho -
News Article | February 22, 2017
Ocean Optics’ new RAM-SERS-SP Surface Enhanced Raman Spectroscopy Substrates (SERS) use a proprietary gold-silver nanosponge alloy to produce highly sensitive, trace-level Raman spectroscopy measurements. The applications for SERS range from detection of explosives and narcotics, to food safety, anti-counterfeit tagging and biological research. Fast, repeatable measurements of SERS-active analytes are possible even to parts per trillion levels. Silver-only SERS substrates work best with 532 nm Raman excitation, and gold substrates are better suited to 785 nm Raman systems. By combining the silver and gold on one substrate, the new SERS nanosponge substrates perform well with either wavelength. Also, when used with 638 nm Raman excitation, the nanosponge substrates are enhanced to an even higher level of sensitivity. RAM-SERS-SP nanosponge substrates are more robust than other options and handle the deposition of sensitive samples more effectively. The higher sensitivity of these substrates opens up new opportunities for SERS applications, particularly in addressing the growing need for fast, effective detection of explosives and pesticides. The substrates work with the complete range of proprietary Raman instruments. For users to take full advantage of the nanosponge substrates’ sensitivity, the company now offers 638 nm modular Raman solutions and 638 nm versions of its mini handheld IDRaman spectrometers. Proprietary plasma deposition permits affordable mass production with high repeatability and customization options. Standard substrates are microscope slide format with a 4 x 4 mm active area. Ocean Ocean Optics www.OceanOptics.com, 727-733-2447
News Article | February 15, 2017
New Silkroutes Group's Oil & Gas Unit Reports Highest-Ever Quarterly Revenue and Net Profit International Energy Group's revenue and profit for the six months ended 31 December 2016 far surpass its performance for the entire previous financial year New Silkroutes Group Limited ("NSG" or the "Group"), an investment holding company with core capabilities in energy trading and healthcare management, said today its wholly-owned International Energy Group Pte Ltd ("IEG") has achieved its biggest quarterly revenue and net profit since the oil and gas subsidiary started operations in June 2015. Summary of Results: https://www.acnnewswire.com/topimg/Low_NSG_1HFY2017_1.jpg IEG's revenue for its fiscal second quarter ended 31 December 2016 ("2QFY2017") rose to US$123.7 million from US$5.8 million for the same period a year earlier ("2QFY2016") and from US$69.2 million for the three months ended 30 September 2016 ("1QFY2017"). Singapore-headquartered IEG, which trades mainly gas oil and fuel oil, managed to engage with more counterparties, boost trading volumes and structure more profitable trades in 2QFY2017. Buyers of its products are from across the world and its counterparties include oil majors and national oil companies. The NSG unit, which intends to own and manage oil storage facilities as part of its longer-term growth strategy, made a net profit of US$665,000 in 2QFY2017. This reversed a loss of US$113,000 in 2QFY2016 and surpassed a profit of US$562,000 in 1QFY2017. For the six months to 31 December 2016 ("1HFY2017"), IEG generated US$192.9 million in revenue and US$1.2 million in net profit, substantially more than its revenue of US$49.6 million and net profit of US$50,000 for the entire financial year ended 30 June 2016 ("FY2016"). For the current financial year ending 30 June 2017 ("FY2017"), IEG had previously said it expects to achieve revenue of more than US$310 million. The last time NSG, previously known as Digiland International Limited, generated annual revenue of more than US$300 million was in FY2004, as a distributor of consumer IT products, a business it is no longer involved in. IEG's performance lifted NSG's revenue for 2QFY2017 to US$123.8 million from US$69.3 million for 1QFY2017 and from US$6.3 million for 2QFY2016. For 1HFY2017, NSG's revenue grew to US$193.1 million from US$9.1 million for the same period a year earlier. As part of efforts to diversify its income stream, NSG said earlier this month it would acquire an 80% stake in CG Capital Markets Holdings LLC, a New York-based broker-dealer and investment bank. In December last year, NSG completed the acquisition of a 51% stake in Singapore-based Healthsciences International Pte Ltd ("HSI"), which has the expertise to operate hospitals and clinics. HSI also runs employee healthcare benefits programmes in Southeast Asia. Turnover and Net Profit for IEG: https://www.acnnewswire.com/topimg/Low_NSG_1HFY2017_2.jpg About New Silkroutes Group Limited New Silkroutes Group (Bloomberg: NSG SP) is a Singapore-incorporated company (established on 25 January 1994) listed on the Mainboard of Singapore Exchange Securities Trading Ltd (SGX). It is evolving into an investment holding company with core competencies in Capabilities Enablement, Capital Allocation, and (Policy) Analysis. The group, through its subsidiaries and associate companies, has exposure to key sector verticals, including Energy/Resources, Healthcare, and Infocomm Technology with a focus on Security & Governance. For enquiries, please contact: New Silkroutes Group Limited Email: WeR1Consultants Pte Ltd 3 Phillip Street, #12-01, Royal Group Building Singapore 048693 Tel: +65 6737 4844 Frankie Ho -
News Article | February 15, 2017
Cisco ( : CSCO) today reported second quarter results for the period ended January 28, 2017. Cisco reported second quarter revenue of $11.6 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.3 billion or $0.47 per share, and non-GAAP net income of $2.9 billion or $0.57 per share. "We are pleased with the quarter and the continued customer momentum as we help them drive security, automation and intelligence across the network and into the cloud," said Chuck Robbins, Cisco CEO. "This quarter we announced our intent to acquire AppDynamics which, combined with Cisco's networking analytics, will provide customers with unprecedented insights into business performance. We will remain focused on accelerating innovation across our portfolio as we continue to deliver value to customers and shareholders." Reconciliations between net income, EPS and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled "Reconciliations of GAAP to non-GAAP Measures." Cisco has also declared a quarterly dividend of $0.29 per common share, a three-cent increase over the previous quarter's dividend, to be paid on April 26, 2017 to all shareholders of record as of the close of business on April 6, 2017. Future dividends will be subject to Board approval. "We delivered a solid Q2 with $11.6 billion in revenues and further growth in key business areas of collaboration, security and services," said Kelly Kramer, Cisco CFO. "I am pleased with our progress on business transformation to software and recurring revenues. We expect to continue to execute well and return value to our shareholders including our board approved an increase of three-cents to the quarterly dividend to $0.29 per share." All comparative percentages are on a year-over-year basis unless otherwise noted. All revenue, non-GAAP, and geographic financial information in the "Q2 FY 2017 Highlights" section is presented excluding the SP Video CPE Business for prior periods as it was divested during the second quarter of fiscal 2016 on November 20, 2015. Revenue -- Total revenue was $11.6 billion, down 2%, with product revenue down 4% and service revenue up 5%. Revenue by geographic segment was: Americas down 3%, EMEA flat, and APJC down 3%. Product revenue performance was led by Security which increased 14%. Collaboration and Wireless product revenue increased by 4% and 3%, respectively. NGN Routing, Switching and Data Center product revenue decreased by 10%, 5% and 4%, respectively. Service Provider Video product revenue decreased by 41%. Gross Margin -- On a GAAP basis, total gross margin and product gross margin were 62.8% and 61.1%, respectively. The decrease in the product gross margin compared with 61.3% in the second quarter of fiscal 2016 was primarily due to pricing and to a lesser extent product mix, partially offset by continued productivity improvements and the divestiture of the SP Video CPE Business. Non-GAAP total gross margin and product gross margin were 64.1% and 62.4%, respectively. The decrease in non-GAAP product gross margin compared with 63.3% in the second quarter of fiscal 2016 was primarily due to pricing and to a lesser extent product mix, partially offset by continued productivity improvements. GAAP service gross margin was 67.7% and non-GAAP service gross margin was 68.8%. Total gross margins by geographic segment were: 64.4% for the Americas, 65.6% for EMEA and 60.4% for APJC. Operating Expenses -- On a GAAP basis, operating expenses were $4.4 billion, up 6%, primarily due to the gain recorded in the second quarter of fiscal 2016 from the sale of the SP Video CPE Business. Non-GAAP operating expenses were $3.8 billion, down 2%, and were 33.0% of revenue. Headcount compared with the end of the first quarter of fiscal 2017 decreased by 426 to 71,959, driven by our fiscal 2017 restructuring actions that began in the first quarter, offset by additional headcount primarily in our investments in key growth areas. Operating Income -- GAAP operating income was $2.9 billion, down 12%, with GAAP operating margin of 25.0%. Non-GAAP operating income was $3.6 billion, down 3%, with non-GAAP operating margin at 31.0%. Provision for Income Taxes -- The GAAP tax provision rate was 20.8%. The non-GAAP tax provision rate was 22.0%. Net Income and EPS -- On a GAAP basis, net income was $2.3 billion and EPS was $0.47. On a non-GAAP basis, net income was $2.9 billion, a decrease of 2%, and EPS was flat at $0.57. Cash Flow from Operating Activities -- was $3.8 billion, a decrease of 4% compared with $3.9 billion for the second quarter of fiscal 2016. Balance Sheet and Other Financial Highlights Cash and Cash Equivalents and Investments -- were $71.8 billion at the end of the second quarter of fiscal 2017, compared with $71.0 billion at the end of the first quarter of fiscal 2017, and compared with $65.8 billion at the end of fiscal 2016. The total cash and cash equivalents and investments available in the United States at the end of the second quarter of fiscal 2017 were $9.6 billion. Deferred Revenue -- was $17.1 billion, up 13% in total, with deferred product revenue up 19%, driven largely by subscription-based and software offerings. Deferred service revenue was up 9%. The portion of product deferred revenue related to recurring software and subscription businesses grew 51%. Capital Allocation -- In the second quarter of fiscal 2017, Cisco declared and paid a cash dividend of $0.26 per common share, or $1.3 billion. For the second quarter of fiscal 2017, Cisco repurchased approximately 33 million shares of common stock under its stock repurchase program at an average price of $30.33 per share for an aggregate purchase price of $1.0 billion. As of January 28, 2017, Cisco had repurchased and retired 4.7 billion shares of Cisco common stock at an average price of $21.17 per share for an aggregate purchase price of approximately $98.6 billion since the inception of the stock repurchase program. The remaining authorized amount for stock repurchases under this program is approximately $13.4 billion with no termination date. Announced Acquisition of AppDynamics -- On January 24, 2017, Cisco announced its intent to acquire AppDynamics, Inc., a privately held application intelligence software company. The acquisition is expected to close in the third quarter of fiscal 2017. Cisco expects to achieve the following results for the third quarter of fiscal 2017: The third quarter of fiscal 2016 included an extra week which resulted in higher revenue of $265 million and higher non-GAAP cost of sales and operating expenses of $150 million resulting in $115 million of non-GAAP operating income in that quarter. Cisco estimates that GAAP EPS will be $0.44 to $0.49 which is lower than non-GAAP EPS by $0.10 to $0.13 per share in the third quarter of fiscal 2017. A reconciliation between the Business Outlook for Q3 FY 2017 on a GAAP and non-GAAP basis is provided in the table entitled "GAAP to non-GAAP Business Outlook for Q3 FY 2017" located in the section entitled "Reconciliations of GAAP to non-GAAP Measures." The Consolidated Statements of Operations include the results of the SP Video CPE Business prior to its divestiture during the second quarter of fiscal 2016 on November 20, 2015. Accordingly, the three months ended January 23, 2016 includes only one month of financial results for this business. During the second quarter of fiscal 2016 on November 20, 2015, Cisco completed its divestiture of the SP Video CPE Business. SP Video CPE Business revenue for the three and six months ended January 23, 2016 was $93 million and $504 million, respectively. (1) Excludes SP Video CPE Business revenue for all periods presented as it was divested during the second quarter of fiscal 2016 on November 20, 2015. SP Video CPE Business revenue for the three and six months ended January 23, 2016 was $93 million and $504 million, respectively. (1) GAAP net income for the second quarter of fiscal 2017 included two supplier component related items as follows: 1) a pre-tax charge to product cost of sales of $125 million related to the expected remediation costs for anticipated failures in future periods of a widely-used clock-signal component sourced from a third party which is included in several of the Company's products, and 2) a pre-tax adjustment (reduction to product cost of sales) of $141 million to a liability originally recorded in the second quarter of fiscal 2014, related to lower than expected defects and future costs of remediation of issues with products sold in prior fiscal years containing memory components manufactured by a single supplier. (2) The sale of the SP Video CPE Business resulted in a pre-tax gain of $286 million during the second quarter of fiscal 2016. The gain on this transaction was excluded from non-GAAP net income for the second quarter and first six months of fiscal 2016. (3) During the second quarter of fiscal 2016, Cisco recorded certain net tax benefits totaling $519 million related to prior-year periods that were excluded from non-GAAP net income for the second quarter and first six months of fiscal 2016. These net tax benefits are primarily comprised of settlement of all outstanding items related to Cisco's U.S. federal income tax returns for the fiscal years ended July 26, 2008 through July 31, 2010 of $367 million, the retroactive reinstatement of the U.S. federal R&D tax credit of $84 million related to fiscal 2015, and a net tax benefit of $68 million related to other significant tax matters. During the second quarter of fiscal 2016 on November 20, 2015, Cisco completed its divestiture of the SP Video CPE Business. Accordingly, the non-GAAP growth rates above are normalized to exclude the SP Video CPE Business for the second quarter of fiscal 2016 as detailed in the table below. *Reflects one month of operations for the SP Video CPE Business, which was divested during the second quarter of fiscal 2016 on November 20, 2015. (1) During the first six months of fiscal 2017, Cisco recognized pretax charges of $544 million to the GAAP financial results in relation to the restructuring plan. Cisco currently estimates that it will recognize pretax charges to its GAAP financial results of approximately $700 million consisting of severance and other one-time termination benefits, and other associated costs. These charges are primarily cash-based. Cisco expects that approximately $100 million to $150 million of these charges will be recognized during the third quarter of fiscal 2017 with the remaining amount to be recognized during the rest of the fiscal year. (2) Estimated adjustments to GAAP earnings per share are shown after income tax effects. Except as noted above, this business outlook does not include the effects of any future acquisitions/divestitures, asset impairments, restructurings and significant tax matters or other events, which may or may not be significant unless specifically stated. This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as our continued customer momentum, our ability to accelerate innovation across our portfolio, our ability to successfully close the acquisition of AppDynamics and to achieve the expected benefits of the acquisition, growth in key business areas of collaboration, security and services, the transformation of our business to software and recurring revenues, and our ability to execute well and return value to our shareholders) that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, key growth areas, and in certain geographical locations, as well as maintaining leadership in routing, switching and services; the timing of orders and manufacturing and customer lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters, and governmental investigations; our ability to achieve the benefits of the announced restructuring and possible changes in the size and timing of the related charges; man-made problems such as cyber-attacks, data protection breaches, computer viruses or terrorism; natural catastrophic events; a pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco's most recent reports on Forms 10-Q and 10-K filed on November 22, 2016 and September 8, 2016, respectively. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most recent report on Form 10-K as it may be amended from time to time. Cisco's results of operations for the three and six months ended January 28, 2017 are not necessarily indicative of Cisco's operating results for any future periods. Any projections in this release are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of this release. This release includes non-GAAP net income, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income and margin, non-GAAP effective tax rates, non-GAAP net income per share data, and free cash flow for the periods presented. It also includes future estimated ranges for gross margin, operating margin, tax provision rate and EPS on a non-GAAP basis. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Cisco believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Cisco's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Cisco's results of operations in conjunction with the corresponding GAAP measures. Cisco believes that the presentation of non-GAAP measures when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. Cisco believes that the presentation of free cash flow, which it defines as the net cash provided by operating activities less cash used to acquire property and equipment, to be a liquidity measure that provides useful information to management and investors because of its intent to return a stated percentage of free cash flow to shareholders in the form of dividends and stock repurchases. Cisco further regards free cash flow as a useful measure because it reflects cash that can be used to, among other things, invest in its business, make strategic acquisitions, repurchase common stock and pay dividends on its common stock, after deducting capital investments. For its internal budgeting process, Cisco's management uses financial statements that do not include, when applicable, share-based compensation expense, amortization of acquisition-related intangible assets, acquisition-related/divestiture costs, significant asset impairments and restructurings, significant litigation and other contingencies, significant gains and losses on investments, the income tax effects of the foregoing and significant tax matters. Cisco's management also uses the foregoing non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Cisco. In prior periods, Cisco has excluded other items that it no longer excludes for purposes of its non-GAAP financial measures. From time to time in the future there may be other items that Cisco may exclude for purposes of its internal budgeting process and in reviewing its financial results. For additional information on the items excluded by Cisco from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission. Cisco divested the Customer Premises Equipment portion of the Service Provider Video Connected Devices business ("SP Video CPE Business") during the second quarter of fiscal 2016 on November 20, 2015. This release includes, where indicated, financial measures that exclude the SP Video CPE Business. Cisco believes that the presentation of these measures provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations because the SP Video CPE Business is no longer part of Cisco and will not be part of Cisco on a go forward basis. Cisco's management also uses the financial measures excluding the SP Video CPE Business in reviewing the financial results of Cisco. Cisco ( : CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at thenetwork.cisco.com and follow us on Twitter at @Cisco. Copyright © 2017 Cisco and/or its affiliates. All rights reserved. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: www.cisco.com/go/trademarks. Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.
News Article | February 28, 2017
HERNDON, Va.--(BUSINESS WIRE)--Exostar, whose cloud-based solutions help companies in aerospace and defense, life sciences, and healthcare mitigate risk and solve their identity and access challenges, today announced it has augmented its enterprise collaboration solution to provide off-the-shelf compliance with the latest Government cybersecurity standards. Defense contractors and their subcontractors, suppliers, partners, and customers can use the multi-tenant, Software-as-a-Service solution to share documents containing covered defense information (CDI) with one another in accordance with Department of Defense (DoD) directives for local and network access. These directives are an essential element of the 110 security controls identified in the recently-revised National Institute of Standards and Technology (NIST) Special Publication (SP) 800-171, which is incorporated by reference into the DoD’s Defense Federal Acquisition Regulations Supplement (DFARS) provision 252.204-7012. The provision defines how contractors and their geographically-distributed, multi-tiered supply chains must safeguard CDI from compromise. Failure to meet the provision by its deadline later this year will affect current and future contract awards. Exostar’s defense community of over 130,000 organizations immediately can take advantage of a seamless, straightforward, cost-effective path to compliance. Current and future community members benefit from features that deliver a compelling user experience and align with the NIST/DFARS cybersecurity requirements, including: “Encryption of documents at-rest in databases and in-transit between parties is insufficient in a sophisticated cyber threat landscape. The DFARS provision and NIST SP 800-171 standard reflect the need for protection to extend beyond systems and networks to local devices such as laptops, tablets, mobile phones, and USBs,” said Doug Russell, Exostar’s Vice President of Business Solutions. “Defense contractors large and small need an intuitive, high-performance, compliant solution to meet their internal and external collaboration needs, and that’s precisely what we deliver.” Leading domestic and global defense contractors including Northrop Grumman, Huntington Ingalls Industries, Airbus North America, Rolls-Royce, and BAE Systems have relied on Exostar’s proven enterprise collaboration solution for nearly a decade. Today, the solution is hosted in US and UK data centers, supporting the secure intra- and inter-enterprise collaboration endeavors of over 50,000 users in 60 countries worldwide. Attend the 3/7 Webinar with Baker Tilly to learn about DFARS/NIST 800-171 requirements and how to identify gaps/ensure readiness for compliance. Exostar’s cloud-based solutions help companies in highly-regulated industries mitigate risk and solve identity and access challenges. Nearly 150,000 organizations leverage Exostar to help them collaborate securely, efficiently, and compliantly with their partners and suppliers. By offering connect-once, single sign-on access, Exostar strengthens security, reduces expenditures, and raises productivity so customers can better meet contractual, regulatory, and time-to-market objectives. www.exostar.com.
News Article | February 15, 2017
Evisions, Inc., a leader in education and research software solutions, today announced the company is the first in its industry to receive the prestigious ISO 27001 vendor certification for the Evisions Research Suite. With ISO 27001 certification, the Evisions Research Suite enables North American customers to securely leverage best-practice workflows that simplify processes, mitigate risk and ensure compliance. ISO 27001 is the strictest and most widely recognized international security certification available for SaaS solutions. As a recognized leader in customer satisfaction, Evisions opted for ISO 27001 vendor certification to underscore its commitment to information security and data privacy for the research community and the company’s customers. “Evisions is the only electronic research administration provider to back its customer commitment with ISO 27001 vendor certification,” said Joe Potenza, Evisions CEO. “In an era of heightened concern for information and cybersecurity, we work to consistently exceed the highest standards for safeguarding customer information.” ISO 27001 certification is based on a company’s information security management system (ISMS), including all policies, procedures, plans, processes, practices, roles, responsibilities, resources and structures that are used to protect and preserve information. Based on Evisions’ ISMS, ISO 27001 certification applies to all processes of operating and supporting the Evisions Research Suite platform, including people, systems and infrastructures in the company’s offices and datacenters. About Evisions, Inc. Evisions develops innovative, easy–to–use software supported by world-class customer support to simplify work for higher education institutions and research organizations. Evisions is transforming the face of electronic Research Administration by producing intuitive, SaaS solutions and executing quick implementations. Evisions makes Research Administration easier by increasing office efficiency and rapidly responding to support needs. The Evisions Research Suite includes: Cayuse 424, Cayuse SP and Cayuse IRB. Learn more and join our conversations at http://www.evisions.com/research, Twitter, LinkedIn and blog.evisions.com.
News Article | February 21, 2017
SINGAPORE, Feb. 21, 2017 /PRNewswire/ -- Preferences for lamination adhesives used in flexible food packaging, such as stand-up pouches (SUPs), wrappers and bags, are shifting away from traditional solvent-based products. Environmental and safety issues are the primary drivers for this change. To take advantage of strong projected market growth in flexible packaging by addressing increasing pressure from consumers and government regulators for greater sustainability, the industry is demanding non-solvent alternatives that reduce environmental impact without negatively affecting system costs and productivity. Advanced solventless and water-based adhesive technologies offer solutions to this challenge. Market Growth and the "Culture of Convenience" According to a report by Smithers Pira, a market research organization, the global consumer flexible packaging market value is forecast to grow at an annual average rate of 3 percent to reach $248 billion USD by 2020.1 Trends driving this growth include the rise of the middle class in developing economies such as those of China, Indonesia, India and other Asia Pacific nations. Middle-class families and other busy consumers around the globe increasingly value the convenience of packaged foods offering high quality and freshness. At the same time that they embrace this "culture of convenience," consumers are concerned about sustainability of the packaging used for these foods - from raw materials to energy costs and recyclability. Another major trend is down-gauging of packaging to reduce polymer and production costs and minimize environmental impact. Flexible packaging uses fewer resources and less energy to fabricate and transport than other forms of packaging.2 As they dry, solvent-based adhesives emit large amounts of volatile organic compounds (VOCs), potentially affecting air quality and worker health and safety. Today, VOCs are being regulated tightly in many nations, including China (Action Plan on Reducing Volatile Organic Compounds in Key Industries). Also, these adhesives require more energy for transport than other types because solvents add significant weight and bulk. Solvent-based adhesive chemistries have other drawbacks. The trace amount of solvent left over in the base materials may lead to potential food safety concern and also produce an unpleasant odor in the packaging that can be transmitted to the food. From a production standpoint, solvent-based adhesives can pose a potential fire and explosion hazard if the processing speed and temperature are too high. These constraints limit productivity for converters and manufacturers. In contrast, water-based and solventless adhesives have no VOC emissions. These adhesives are popular in Europe and the Americas, but represent only about 20 percent of the market in China, where solvent-based products still dominate. However, upcoming regulations are expected to lead to the replacement of solvent-based adhesives with alternatives offering greater sustainability. New innovations in solventless adhesives have been introduced at a fast pace in recent years. Not only are these adhesives safer and more environmentally friendly than solvent-based products, they offer cost and efficiency benefits as well. In addition to eliminating the expense of using solvents in the formulation, these products are not constrained by the risk of fire or explosion, enabling them to be run at speeds of up to 600 meters per minute to increase throughput. Advanced solventless adhesives, such as Dow Chemical's MOR-FREETM products, have additional sustainability and efficiency advantages. They are designed specifically to enable multi-layer flexible packaging that uses less adhesive while delivering high performance. MOR-FREETM adhesives combine an isocyanate-based material with a hydroxyl-functional base material, and are available as one- and two-component systems. One-component solventless adhesives are used primarily to laminate paper or paperboard with films or aluminum foil. Two-component solventless adhesives are widely used for many general-purpose to medium-performance applications, including laminating of film/film and film/foil constructions. MOR-FREETM adhesives are "all-in-one" solutions that offer broad suitability for different structures and applications, which greatly increases product efficiency and leads to cost savings. They also deliver superior performance that safeguards food safety, for example, by accelerating decay of primary aromatic amines within two days, which potentially eliminates food safety risks and surpasses competitive offerings. With water as their main component, water-based adhesives discharge only moisture into the atmosphere during drying, unlike the VOCs released by solvent-based adhesives. Because no solvents are used, these adhesives do not pose a threat of fire from high temperatures and speeds, allowing them to be processed 20 percent faster than the average speeds of solvent-based products. A major advantage of choosing water-based adhesives is that they can be used on the same equipment as solvent-based adhesives. This avoids the capital expense of replacing existing dry lamination equipment. Water-based adhesives also have broader adaptability to different materials. They are compatible with metalized films, and are suitable for structures such as BOPP (PET)//VMCPP, BOPP (PET)//MPET and inflatable food packaging for confectionary products, potato chips, etc. Single-component water-based adhesives are often used for packaging of instant noodles and snack foods. Two-component adhesives can provide higher bond and heat seal strength, and are suitable for some medium-performance applications. Although many water-based adhesives cannot equal solvent-based products in heat and chemical resistance, which is considered a roadblock to their adoption, Dow Packaging and Specialty Plastics' new-generation ROBONDTM polyurethane-based laminating adhesives can deliver comparable performance in some applications such as rice bags and SUPs. These innovative adhesives have outstanding resistance to steaming, boiling and chemicals, making them an excellent choice for foods such as meats and pickles that are sterilized in boiling water after packaging. Following curing, the ROBONDTM polyurethane dispersion system creates a strong, flexible laminate with good clarity and thermal stability. Solventless and water-based adhesives can be used in the same multilayer packaging construction to deliver different properties. For example, a potato chip bag may appear to consist of one thin layer but is actually a three-layer structure (BOPP//VMPET//PE) requiring two laminating processes. This combination of adhesives can help to maximize operational efficiency, reduce manufacturing costs and shorten delivery time to customers, while improving the environmental protection and safety of the food packaging. Replacing traditional solvent-based lamination adhesives in flexible, multi-layer food packaging with water-based and solventless adhesives can help converters and manufacturers address consumer demands for safety and sustainability, as well as comply with increasingly stringent laws and regulations regarding VOC emissions. With its broad portfolio of solventless and water-based adhesives, including new polyurethane dispersions, Dow can provide alternatives that not only reduce or eliminate VOCs but also promote food safety and expedite processing. The largest business unit in Dow, Packaging and Specialty Plastics (P&SP) delivers annual revenues of ~US$14 billion and is one of the largest materials suppliers to the global packaging industry. With 3,800 employees, 48 plants and 28 sites spread across 16 countries, the business focuses on high growth markets in food packaging, industrial packaging, personal hygiene, and transmission pipe. P&SP is a leading innovator and collaborates across multiple value chains on new and improved products and applications that meet or exceed customer expectations. Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from material, polymer, chemical and biological science to help address many of the world's most challenging problems, such as the need for fresh food, safer and more sustainable transportation, clean water, energy efficiency, more durable infrastructure, and increasing agricultural productivity. Dow's integrated, market-driven portfolio delivers a broad range of technology-based products and solutions to customers in 175 countries and in high-growth sectors such as packaging, infrastructure, transportation, consumer care, electronics, and agriculture. In 2016, Dow had annual sales of $48 billion and employed approximately 56,000 people worldwide. The Company's more than 7,000 product families are manufactured at 189 sites in 34 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com
News Article | February 24, 2017
Oil & Gas Kenya 2017: Shaping the Market of One of the Worlds Cheapest Oil Producers Nairobi, Kenya, February 24, 2017 --( Kenya has recently seen significant exploration success with a UK based oil and gas firm indicating oil reserves of over 700 million barrels in the country’s north western county of Turkana, in addition to existing off shore drilling sites. The firm reports that the breakeven point for Kenya crude oil is around the $25 per barrel mark, including pipeline transportation costs to the sea port of Mombasa. This puts oil production in Kenya among the cheapest in the world, beating those of major regional exporters like Angola ($35.4) and Nigeria ($31.5). Lower production costs mean higher profit margins for the producers. With global rates crossing the $50 per barrel mark, this translates to huge profit margins for oil firms in the country. This also highlights the good returns on investment on offer in Kenya’s oil industry with it being able to survive sustained slumps in oil prices and still make a profit. With the prime focus to shape this resurgence in the Kenyan oil and gas industry, the 6th edition of Oil & Gas Kenya will take place from 11th to 13th April, 2017 at the Kenyatta International Conference Centre (KICC) in Nairobi. The three day trade exhibition will witness the gathering of leading industry experts, stake holders and decision makers from over 24 countries discussing the latest market trends, investment opportunities and advancements in technology in the oil and gas sector. Exhibiting firms include AIV Europe Ltd (UK) dealing with exotic alloy and speciality pipeline valves; Delta Pipe and Tube (UAE) dealing in corrosion control protective coatings, structural steel and heavy engineering products; AIUT SP. Z O.O. (Poland) providing complete metering, automation and process control solutions; Warom Technology Inc. (China) dealing with explosion proof light fittings and electrical apparatus and Bristol Gases (UAE), specialists in calibration mixtures and high purity gases. Oil & Gas Kenya 2017 is being organised by Expogroup, which has been organizing some of the largest international trade exhibitions in Africa. Since its inception 20 years ago, Expogroup has organized expos in Kenya, Tanzania, Ethiopia, Ghana and Nigeria; showcasing over 500+ companies from around the world and garnering record footfalls at each exhibition. For more information on Oil & Gas Kenya 2017 please visit: www.expogr.com/kenyaoil Nairobi, Kenya, February 24, 2017 --( PR.com )-- Improving global crude oil prices has caused oil and gas exploration activities in Kenya and the East African region as a whole to rise as global confidence in the sector slowly continues to grow back.Kenya has recently seen significant exploration success with a UK based oil and gas firm indicating oil reserves of over 700 million barrels in the country’s north western county of Turkana, in addition to existing off shore drilling sites.The firm reports that the breakeven point for Kenya crude oil is around the $25 per barrel mark, including pipeline transportation costs to the sea port of Mombasa. This puts oil production in Kenya among the cheapest in the world, beating those of major regional exporters like Angola ($35.4) and Nigeria ($31.5).Lower production costs mean higher profit margins for the producers. With global rates crossing the $50 per barrel mark, this translates to huge profit margins for oil firms in the country. This also highlights the good returns on investment on offer in Kenya’s oil industry with it being able to survive sustained slumps in oil prices and still make a profit.With the prime focus to shape this resurgence in the Kenyan oil and gas industry, the 6th edition of Oil & Gas Kenya will take place from 11th to 13th April, 2017 at the Kenyatta International Conference Centre (KICC) in Nairobi.The three day trade exhibition will witness the gathering of leading industry experts, stake holders and decision makers from over 24 countries discussing the latest market trends, investment opportunities and advancements in technology in the oil and gas sector.Exhibiting firms include AIV Europe Ltd (UK) dealing with exotic alloy and speciality pipeline valves; Delta Pipe and Tube (UAE) dealing in corrosion control protective coatings, structural steel and heavy engineering products; AIUT SP. Z O.O. (Poland) providing complete metering, automation and process control solutions; Warom Technology Inc. (China) dealing with explosion proof light fittings and electrical apparatus and Bristol Gases (UAE), specialists in calibration mixtures and high purity gases.Oil & Gas Kenya 2017 is being organised by Expogroup, which has been organizing some of the largest international trade exhibitions in Africa. Since its inception 20 years ago, Expogroup has organized expos in Kenya, Tanzania, Ethiopia, Ghana and Nigeria; showcasing over 500+ companies from around the world and garnering record footfalls at each exhibition.For more information on Oil & Gas Kenya 2017 please visit: www.expogr.com/kenyaoil Click here to view the list of recent Press Releases from Expogroup