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

LIMA, Peru--(BUSINESS WIRE)--Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company,” “the Group” or “Graña y Montero”) a leading Engineering and Construction company announced today that it closed the sale of its 51% stake in Compañía Operadora de Gas del Amazonas S.A.C. (COGA) in favor of Enagás and Carmen Corporation, its partners so far, for US$ 21.5 million. This operation is part of the non-strategic asset sale process of the company, which, as its Chief Executive Officer, Luis D


News Article | April 28, 2017
Site: globenewswire.com

The cutting-edge provider of visual ideation and collaboration tools, Hoylu, today announced 2.2 MSEK in orders from Suffolk, one of the largest construction companies in the US. Suffolk is a general building and contracting company that provides pre-construction, construction management, general contracting and design-build services nation-wide. Construction projects include both new construction and renovations in the hospitality, education, residential, healthcare, assisted living, public works, entertainment, retail and commercial market sectors. The orders are for 7 HuddlewallsTM.  The Huddlewall features workstation performance and additional screen real estate for reviewing CAD files, editing blueprints, running web applications for LEAN planning or annotating brainstorming sessions with pen-based interaction. Finding an effective way for teams to interact while viewing 3D models of complex buildings and conducting LEAN planning is a high priority within the Architecture, Engineering and Construction (AEC) community. The orders will be delivered by Q2, 2017. "Suffolk's vision is to transform the construction experience by building smart," said Chris Mayer, Chief Innovation Officer, Suffolk. "By adding sophisticated new tools and technologies such as the Huddlewall to our toolbox, we will be able to manage our projects with more efficiencies, provide clients a more predictable and enjoyable experience, and revolutionize our industry." "Many construction companies have tried using smart boards to help facilitate team collaboration, but run into software limitations. The Huddlewall runs all the applications that AEC firms typically use, such as Touchplan.io, Synchro or Navis-works, tools they can now use on a huge display in a big room," says Andrew Jamison, Vice President of Sales US at Hoylu. Suffolk Suffolk is leading the transformation of the construction industry with high-performing people, innovative processes and cutting-edge technologies that boosts predictability, accelerate schedules, eliminate costs and minimize waste. For more information visit: www.suffolk.com Hoylu AB Hoylu delivers solutions for presentation, ideation and collaboration that focus on enhancing the user experience. The company's main area of interest is software for Creative Collaboration, combined with intuitive input and display technologies.This includes technologies for remote collaboration, Internet of Things and for connecting workspaces in different locations together, with the objective of simplifying work processes while improving productivity and creativity. For more information: www.hoylu.com  or visit www.introduce.se/foretag/hoylu For more information, please contact Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com Publication This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at (8:30) CET on April 28th 2017


News Article | April 28, 2017
Site: globenewswire.com

The cutting-edge provider of visual ideation and collaboration tools, Hoylu, today announced 2.2 MSEK in orders from Suffolk, one of the largest construction companies in the US. Suffolk is a general building and contracting company that provides pre-construction, construction management, general contracting and design-build services nation-wide. Construction projects include both new construction and renovations in the hospitality, education, residential, healthcare, assisted living, public works, entertainment, retail and commercial market sectors. The orders are for 7 HuddlewallsTM.  The Huddlewall features workstation performance and additional screen real estate for reviewing CAD files, editing blueprints, running web applications for LEAN planning or annotating brainstorming sessions with pen-based interaction. Finding an effective way for teams to interact while viewing 3D models of complex buildings and conducting LEAN planning is a high priority within the Architecture, Engineering and Construction (AEC) community. The orders will be delivered by Q2, 2017. "Suffolk's vision is to transform the construction experience by building smart," said Chris Mayer, Chief Innovation Officer, Suffolk. "By adding sophisticated new tools and technologies such as the Huddlewall to our toolbox, we will be able to manage our projects with more efficiencies, provide clients a more predictable and enjoyable experience, and revolutionize our industry." "Many construction companies have tried using smart boards to help facilitate team collaboration, but run into software limitations. The Huddlewall runs all the applications that AEC firms typically use, such as Touchplan.io, Synchro or Navis-works, tools they can now use on a huge display in a big room," says Andrew Jamison, Vice President of Sales US at Hoylu. Suffolk Suffolk is leading the transformation of the construction industry with high-performing people, innovative processes and cutting-edge technologies that boosts predictability, accelerate schedules, eliminate costs and minimize waste. For more information visit: www.suffolk.com Hoylu AB Hoylu delivers solutions for presentation, ideation and collaboration that focus on enhancing the user experience. The company's main area of interest is software for Creative Collaboration, combined with intuitive input and display technologies.This includes technologies for remote collaboration, Internet of Things and for connecting workspaces in different locations together, with the objective of simplifying work processes while improving productivity and creativity. For more information: www.hoylu.com  or visit www.introduce.se/foretag/hoylu For more information, please contact Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com Publication This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at (8:30) CET on April 28th 2017


News Article | April 26, 2017
Site: www.businesswire.com

* Variation Q1 2017/Q1 2016 on a comparable basis, excluding currency and energy (natural gas and electricity) impact: 2016 base adjusted as if on January 1, 2016 a) Airgas had been consolidated and the divestments requested by the US regulator (FTC) had been completed and b) Aqua Lung and Air Liquide Welding had been deconsolidated (discontinued operations as per IFRS 5). Commenting on the first quarter of 2017, Benoît Potier, Air Liquide Chairman and CEO, said: “The strong growth in sales this quarter reflects the Group's new scale as a result of the acquisition of Airgas. The increase in sales was also the result of a significant improvement in Industrial Merchant, the Group's largest business line, the solid growth in Healthcare and to a lesser extent in Large Industries, as well as the strength of the Global Markets & Technologies business. In a more favorable economic context, the signs of improvement observed at the beginning of the year were confirmed during the first quarter. In fact, all geographies posted growth, notably North America with a recovery in its industrial production. Moreover, the Group continues to deliver recurrent efficiency gains, to which are added the Airgas synergies thanks to the successful first steps of the integration, in line with our expectations. We also posted a sharp increase in cash flow. Air Liquide is thus on track in the implementation of its company program for the period 2016-2020. Assuming a comparable environment, Air Liquide is confident in its ability to deliver net profit growth in 2017." Q1 2017 Group revenue reached € 5,176 million, an increase of +38.5% on a reported basis as compared with Q1 2016. This includes the consolidation of Airgas sales. Q1 2017 revenue benefited also, to a lesser extent, from the positive impact of both currency (+2.4%) and energy (+2.7%). On a comparable basis,1 Q1 2017 Group revenue rose +1.5% versus Q1 2016, impacted by weaker sales in Engineering and Construction. Gas & Services revenue, which totaled € 5,046 million this quarter, is up +42.2% on a reported basis versus Q1 2016. On a comparable basis, revenue grew +2.8% this quarter versus Q1 2016, and therefore much improved over the two previous quarters. Revenue for all Gas & Services businesses rose this quarter on a comparable basis, with the exception of Electronics, which was virtually unchanged: Engineering and Construction revenue, which came to € 52.7 million, declined sharply (-58.4%) on a comparable basis versus Q1 2016, adversely impacted by a decline in order intake in 2016. However, order intake showed improvement this quarter, as compared with Q1 2016, and higher bidding activity. For Global Markets & Technologies, revenue for the period was € 77.4 million, up +19.2% on a comparable basis. Growth was driven by the biogas sector as well as sales of hydrogen charging stations for mobility, helium sales, and maritime. This quarter, the Group generated recurrent efficiency gains of € 67 million, which is 10% more than during Q1 2016. The Airgas synergies, which amounted to 45 million USD this quarter, are materializing rapidly, in line with our expectations. Cash flow from operating activities before change in Working Capital Requirements increased markedly and amounted to € 920 million. The net debt-to-equity ratio continued to decrease. 1 Variation Q1 2017/Q1 2016 on a comparable basis, excluding currency and energy (natural gas and electricity) impact: 2016 base adjusted as if on January 1, 2016 a) Airgas had been consolidated and the divestments requested by the US regulator (FTC) had been completed and b) Aqua Lung and Air Liquide Welding had been deconsolidated (discontinued operations as per IFRS 5). The world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 67,000 employees and serves more than 3 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902. Air Liquide’s ambition is to lead its industry, deliver long term performance, and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable growth over the long term. It relies on operational excellence, selective investments, open innovation, and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders. Air Liquide’s revenue amounted to € 18.1 billion in 2016 and its solutions that protect life and the environment represent more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50, and FTSE4Good indexes. In the 1st quarter of 2017, the Group’s revenue was up +38.5% in published data with Gas & Services revenue increasing by +42.2%. This strong growth reflects the integration of Airgas, but also the recovery in the Industrial Merchant activity, in particular in North America and Europe. The currency and energy impacts are also favorable and stand at +5.1% at the Group level. On a comparable basis, Gas & Services sales were up +2.8% year-on-year, improving over the 4th quarter of 2016 (+1.7%). Sales growth in Industrial Merchant, at close to +3%, after eight consecutive quarters of decline, and the solid increase in Healthcare at +5.5%, represented solid growth drivers this quarter. The development of GMT (+19%) also supported growth. Large Industries sales were in line with expectations (+3%), with start-ups for the remainder of 2017 mainly expected during the 2nd and especially the 3rd quarter. Underlying activity momentum remained strong in Electronics, in particular for Advanced Materials and carrier gases, mainly in China, Taiwan and Singapore, but growth was penalized by an extremely high basis of comparison for neon and Equipment & Installation sales in the 1st quarter of 2016. Overall sales improved in all regions, with the Americas posting its strongest increase in two years. With 67 million euros delivered over the quarter, efficiencies were in line with the NEOS objective. Airgas synergies have materialized rapidly, with an additional 45 million U.S. dollars in synergies this quarter, including the first growth synergies. Cash flow from operating activities before changes in working capital requirements increased markedly and amounted to 920 million euros. The net debt-to-equity ratio continued to decrease. Investment decisions reached approximately 500 million euros, of which 70 million euros relating to several acquisitions, three of which were carried out by Airgas. The investment backlog continued its very gradual decline, as expected, and stood at 2.0 billion euros; 12-month investment opportunities were flat overall at 2.1 billion euros. (a) Q1 2016 figures have been restated to account for IFRS 5, discontinued operations. (b) Comparable growth based on 2016 adjusted sales excluding currency and energy price fluctuation impact. Group revenue for the 1st quarter of 2017 reached 5,176 million euros and growth as published was +38.5% compared with the 1st quarter of 2016, driven by the consolidation of Airgas sales, a positive currency and energy impact, of +2.4% and +2.7% respectively, and by an improvement in Gas & Services activity. Comparable growth was up +1.5%. This was driven by a solid improvement in Gas & Services sales, in particular in Industrial Merchant activity, whereas Engineering & Construction sales remain weak following a slowdown in order intake in 2016. Gas & Services revenue totaled 5,046 million euros in the 1st quarter of 2017, with comparable growth of +2.8%. On a published basis, sales were up +42.2%, thanks to the consolidation of Airgas sales and a positive currency (+2.5%) and energy (+2.8%) impact. Gas & Services revenue in the Americas amounted to 2,142 million euros, up +160% as published and +3.7% on a comparable basis. Driven by the ramp-up of production units, Large Industries sales improved markedly, with very solid volumes. The improvement was very significant in Industrial Merchant, with sales up +2.6% over the quarter. Growth remained strong in South America, driven notably by developments in Healthcare. Revenue in Europe totaled 1,710 million euros, up +2.6%. Growth was solid in Industrial Merchant (+4.3%), confirming an improvement in the activity and benefiting from a favorable working day impact. Despite good air gases volumes in some countries, Large Industries sales were down -2.2%, impacted by an unfavorable comparison effect and the stoppage of activity in Ukraine. Healthcare continued to improve in Home Healthcare and medical gases and enjoyed strong growth in Hygiene and Specialty Ingredients. Revenue in the Asia-Pacific region increased +1.6% to 1,024 million euros. Performance was contrasted by country: sales growth in China remained very solid but was negative in Japan, which continued to be penalized in Electronics by the strong decrease of neon prices and in Industrial Merchant by slower Equipment sales. Middle East and Africa revenue totaled 170 million euros, up +2.7%. The hydrogen production units in Yanbu in Saudi Arabia were started-up again in January following a maintenance turnaround of the customer site in December 2016 and posted record production figures in March. Momentum was strong in Egypt with the continuing pre-loading of Large Industries units and growing volumes in Industrial Merchant. In South Africa, the Industrial Merchant activity returned to positive growth, benefiting in particular from additional working days. This favorable calendar also contributed to Healthcare growth. Engineering & Construction revenue totaled 53 million euros, down -58.4% compared with the 1st quarter of 2016, due to the low level of order intake in 2016. It remained affected by the slowdown in major energy-related projects and the low number of new projects in a still difficult global environment. However, total order intake reached 107 million euros, up compared with 73 million euros in the 1st quarter of 2016. Half of all projects concerned air gases production units (ASU). Lastly, bidding activity was also higher. Global Markets & Technologies revenue was up +19.2% at 77 million euros. Sales were strong, in particular in the biogas and maritime sectors. Helium volumes also increased. Order intake was up and reached 78 million euros. New hydrogen charging stations for mobility in Japan In March, Air Liquide completed the construction of two hydrogen charging stations in Japan. The Fukuoka Miyata and Kobe Shichinomiya stations are respectively the 4th and 5th hydrogen charging stations for public use in Japan. To date, 75 hydrogen charging stations have already been designed and installed by Air Liquide worldwide. The acquisition of Airgas and the launch of the NEOS Company Program for the period 2016-2020 mark a new milestone in the history of Air Liquide. The Group is transforming and is changing its visual identity with a new logo, the fifth since the company was founded 115 years ago. This new visual identity, which embodies the transformation of Air Liquide, is that of a leading Group, expert and innovative, that is close to its stakeholders and open to the world. A transaction, issued under the Group’s €12 billion Euro Medium Term Note (EMTN) programme, allowed the issue of a €600 million bond with a 10-year maturity at a yield of 1.116%. This recent transaction brings the total outstanding amount of bonds issued to this day to approximately €15.2 billion, with an average maturity of 6.8 years. Proceeds from this bond will allow the Group to refinance its two bonds maturing in June and July 2017, and to continue funding sustainably its long term growth while benefiting from very attractive market conditions. Air Liquide announced it has entered into exclusive negotiations with Lincoln Electric Holdings, Inc. (“Lincoln Electric”) (Nasdaq: LECO), the world leader in design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment, to sell Air Liquide Welding, its subsidiary specializing in the manufacture of welding and cutting technologies. At the end of March 2017, the 12-month portfolio of opportunities totaled 2.1 billion euros, down slightly compared with 2.2 billion euros at the end of 2016. New projects entering the portfolio partly offset those signed by the Group, awarded to the competition or delayed. The global portfolio, which includes all projects including those which may be signed after the next 12 months, was solid and stood at between 4.5 and 5 billion euros. Developing economies represented more than half of the portfolio, which is greater than at December 31, 2016. Investment opportunities are greatest in the Americas, followed by Europe then Asia. This breakdown of the portfolio of opportunities is similar to the new breakdown of Group sales. Approximately 40% of the portfolio of opportunities corresponds to projects with investments of less than 50 million euros and only a few projects are greater than 100 million euros. The average size of projects is more modest, thus contributing to a better distribution of risk. In the 1st quarter of 2017, industrial and financial investment decisions reached almost 500 million euros, with industrial decisions accounting for around 85% of this amount. Financial investment decisions reached approximately 70 million euros. These mainly related to an acquisition in Home Healthcare in Colombia and the acquisitions of distributors in Industrial Merchant, in particular three in the United States which highlight the continuing market consolidation by Airgas. The investment backlog amounted to 2.0 billion euros, a slight decrease compared with 2.1 billion euros at the end of 2016. The investment backlog should lead to a future contribution to revenue of approximately 0.8 billion euros per year after full ramp-up. Two new units started up during the 1st quarter of 2017: a hydrogen pipeline network in the Middle East and an air separation unit (ASU) in South America. The main start-ups for the year are expected at the end of the 2nd quarter and during the 3rd quarter. The Group’s efficiency gains in the 1st quarter amounted to 67 million euros. This performance was based on continued efforts and integrated many projects throughout the Group, principally this quarter, in industrial operations (production, logistics), in purchasing and in the reorganization of certain activities. Regarding industrial operations, daily energy management review and bulk supply chain optimization in certain geographies represent an important part of efficiencies. There is also a more important contribution from realignement and restructuring in Engineering & Construction and in several countries. The additional Airgas synergies have materialized rapidly and reached 45 million U.S. dollars in the 1st quarter. They came in particular from internal bulk sourcing, implementation of shared services and improvement of back-office processes. The first revenue synergies materialized with better availability of bulk products and new offers proposed to customers. Cash flow from operating activities before changes in working capital requirements for the first three months of 2017 amounted to 920 million euros and corresponded to 17.8% of Group revenue. In particular, this enabled to ensure financing for net capital expenditures which amounted to 630 million euros for the 1st quarter 2017, out of which approximately 560 million euros in industrial investments. The net debt-to-equity ratio pursued its decrease which started end of 2016. The strong growth in sales this quarter reflects the Group's new scale as a result of the acquisition of Airgas. The increase in sales was also the result of a significant improvement in Industrial Merchant, the Group's largest business line, the solid growth in Healthcare and to a lesser extent in Large Industries, as well as the strength of the Global Markets & Technologies business. In a more favorable economic context, the signs of improvement observed at the beginning of the year were confirmed during the first quarter. In fact, all geographies posted growth, notably North America with a recovery in its industrial production. Moreover, the Group continues to deliver recurrent efficiency gains, to which are added the Airgas synergies thanks to the successful first steps of the integration, in line with expectations. A sharp increase in cash flow was also posted. Air Liquide is thus on track in the implementation of its company program for the period 2016-2020. Assuming a comparable environment, Air Liquide is confident in its ability to deliver net profit growth in 2017. Since January 1st, 2015, the energy impact includes natural gas and electricity impacts. It may also include other Large Industries energy feedstocks in the future. Since industrial and medical gases are rarely exported, the impact of currency fluctuations on activity levels and results is limited to euro translation impacts with respect to the financial statements of subsidiaries located outside the euro zone. The currency effect is calculated based on the aggregates for the period converted at the exchange rate of the previous period. In addition, the Group passes on variations in the cost of energy (electricity and natural gas) to its customers via indexed invoicing integrated into their medium and long-term contracts. This indexing can lead to significant variations in sales (mainly in the Large Industries Business Line) from one period to another depending on fluctuations in prices on the energy market. Considering the disposal of Aqua Lung closed on December 30, 2016, and the fact that Air Liquide entered into exclusive negotiations with Lincoln Electric to sell its Air Liquide Welding subsidiary (press release of March 2, 2017), these “Other Activities” are no longer consolidated in Group sales, in accordance with IFRS 5. Revenue growth as published is calculated based on the Group’s 2016 sales after the deconsolidation of Aqua Lung and Air Liquide Welding revenue, in accordance with IFRS 5. The closing of the Airgas acquisition was effective on May 23, 2016 and the Industrial Merchant and Healthcare activities of Airgas and Air Liquide in the United States were merged on October 1, 2016. As a consequence, it is no longer possible to isolate Air Liquide and Airgas activities as to the former scope. Reference to Airgas now corresponds to the Group’s Industrial Merchant and Healthcare activities in the United States within the new scope after the merger of Airgas and Air Liquide U.S. operations. In addition to the comparison of published figures, adjusted 2016 sales data is provided below to offer a comparable basis for 2016: adjusted 2016 sales are computed as if, on January 1st 2016, Airgas had been fully consolidated and the divestments requested by the U.S. Federal Trade Commission completed, and Aqua Lung and Air Liquide Welding had been deconsolidated. As of the 1st quarter of 2017 and for the entire 2017 fiscal year, Air Liquide will communicate a comparable sales growth based on 2016 adjusted sales, excluding currency and energy (natural gas and electricity) impact. NB: figures not reported in the above table are already published data and are not impacted by the Airgas acquisition adjustment. (a) Based on Q1 2016 adjusted sales as if, on January 1st 2016, Airgas had been fully consolidated and the divestments requested by the U.S. Federal Trade Commission completed, and Aqua Lung and Air Liquide Welding had been deconsolidated. (b) Comparable growth based on 2016 adjusted sales excluding currency and energy price fluctuation impact.


Wu T.-L.,Engineering and Construction Co. | Ou Y.-C.,National Taiwan University of Science and Technology | Yen-Liang Yin S.,Ruentex Group | Wang J.-C.,Engineering and Construction Co. | And 2 more authors.
Journal of the Chinese Institute of Engineers, Transactions of the Chinese Institute of Engineers,Series A/Chung-kuo Kung Ch'eng Hsuch K'an | Year: 2013

This study investigates the behavior of transversely reinforced oblong and rectangular bridge columns under combined axial and flexural loading, including eccentric compression and lateral cyclic loading under constant axial load. The transverse reinforcement schemes include conventional tie and multi-spiral reinforcement. The multi-spiral reinforcement for the oblong column comprises two interlocking spirals and, for rectangular columns, comprises two interlocking large central spirals interlocked with four small spirals at the corners. The amount of transverse reinforcement for all of the columns conforms to the current seismic bridge design specifications. Test results indicate that all of the columns exhibit ductile behavior with ductility capacities significantly higher than the ductility capacity required by the design code. The oblong spiral column with an amount of transverse reinforcement 43% that of the corresponding tied column shows strength, ductility, energy dissipation, and over-strength similar to the tied column. Additionally, the rectangular spiral column with an amount of transverse reinforcement 59% that of the corresponding tied column exhibits strength, ductility, energy dissipation and over-strength superior to the tied column. Moreover, the code P-M interaction analysis method can provide a conservative means of estimating nominal moment strength. The two code methods to determine the maximum probable moment strengths may not provide conservative estimates. Results of this study demonstrate that the maximum probable moment of the columns examined can be estimated conservatively as 1.4 times the nominal moment strength. © 2013 The Chinese Institute of Engineers.


Xu Y.F.,Engineering and Construction Co.
Advanced Materials Research | Year: 2014

The structural stress analysis of concrete chimney is the basic security to ensure the safe operation. The Simulation analysis of fine modeling based on large finite element method can make the calculating result more real and reliable. Combined with some chimney project, the fine structural model is established, and stress and internal force’s distribution in different load conditions is analyzed in this paper, and results show that the condition of the worst internal forces should be chosed according to the calculation object. The analysis method based on the finite element can be a reference for other similar chimney. © (2014) Trans Tech Publications, Switzerland.

Loading Engineering and Construction Co. collaborators
Loading Engineering and Construction Co. collaborators