ABN Newswire http://www.abnnewswire.net Mon, 23 Apr 2018 16:12:08 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![CDATA[ Fluence Corporation Limited (ASX:FLC) Awarded Contract for Innovative Reuse Water System in California ]]> en92698 Y https://www.abnnewswire.net/press/en/92698/ Tue, 10 Apr 2018 10:53:56 GMT Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) announced today that it has received a contract to deliver a water treatment reuse system to its customer Rosenblad Design Group (Rosenblad). Fluence's zero liquid discharge (ZLD) solution will utilize ultrafiltration and reverse osmosis equipment to treat brine for reuse. The system will be integrated and utilized as part of a larger turnkey water treatment project Rosenblad is installing in California. California is one of the largest water and wastewater treatment markets for Fluence.

- System to be provided to Rosenblad Design Group as part of larger turn-key system

- Features zero liquid discharge, ultrafiltration and reverse osmosis equipment and strengthens Fluence's positioning in USA

- Paves the way for potential future collaboration with Rosenblad

This will be Fluence's first ZLD system in the continental United States and is particularly significant for its location in California, where the local government has recently renewed the drought declaration and is once again implementing restrictions on water consumption. This water reuse system has benefits to the end user beyond the obvious environmental ones, which include the reduction of costly waste management and the increase in product recovery, capturing maximum utility from its resources. The market for water reuse in the US is expected to grow over the next couple of decades due to policy change, population growth and climate related challenges in water scarce regions (see Note below).

Fluence's Managing Director and CEO, Henry Charrabé said: "Our team is working closely with Rosenblad to support this project. Rosenblad is well known for its extensive experience as a leading provider of high quality evaporation technologies. Combined with Fluence's water process expertise, we trust this will be the first of many future joint projects between Fluence and Rosenblad."

Rosenblad President, Fredrik Thelander, added: "This project win is due to a very close collaborative effort between Rosenblad and Fluence. We selected Fluence as our partner due to their strong process knowledge within the water space. We look forward to working closely with Fluence, where we can utilize their expertise and technology, together with ours, in order to deliver a highly efficient zero liquid discharge system to meet the most stringent environmental regulatory requirements in California with an optimized operating cost solution for the end user."

The Fluence system is expected to be delivered, installed and operational onsite by the end of 2018.

About Rosenblad Design Group

Rosenblad Design group combines knowledge built on 80 plus years of experience as a premier manufacturer of evaporation systems and specialty heat exchangers with time tested equipment and service, backed with innovative thinking to allow RDG to lead the industry in new developments and process improvements. Actively serving the world with evaporation solutions and support through supply and service of over 500 installations across the globe, and strategically positioned with global sales and engineering offices to provide availability to every country, in every time zone, our people are experienced with most standards, requirements, and codes worldwide. Our commitment to evaporation system improvements has allowed us to contribute numerous notable industry advancements and patented products to deliver innovation to enhance modern day evaporation systems in performance and efficiency, while extending equipment service life, and reducing off-line maintenance. RDG is driven to be the authority for evaporation solutions and support, while achieving authentic client satisfaction through superior customer service, precision engineering, and high-quality products. We respect and appreciate the caliber of EVERY customer need, and we strive to exceed ALL expectations. For more information, visit http://www.rosenbladdesign.com

Note: Bluefield Research, LLC

Corporate: 
Henry Charrabé (USA)
Managing Director & CEO
E: hcharrabe@fluencecorp.com
P: +1-212-572-3766 

Richard Irving (USA)
Executive Chairman
E: rirving@fluencecorp.com
P: +1-408-382-9790 

Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
E: rkennedy@fluencecorp.com
P: +61-409-524-442

Media (Australia):
Tristan Everett
Market Eye
E: tristan.everett@marketeye.com.au
P: +61-403-789-096

]]>
newsroom@abnnewswire.net
<![CDATA[ Fluence Corporation Ltd (ASX:FLC) Achieves Financial Close for US$48 Million San Quintin, Mexico Project ]]> en92611 Y https://www.abnnewswire.net/press/en/92611/ Tue, 3 Apr 2018 08:19:21 GMT Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce that it has reached financial close for its seawater desalination project for its customer, Comisión Estatal del Agua de Baja California (CEA), the State Water Commission of Baja California, to provide water for the town of San Quintin, Mexico.

- Fluence to build and operate a 22 million litre/day seawater desalination plant

- 30-year operating agreement in place prior to plant transfer

- Off balance sheet, non-recourse, project finance put in place

- High-volume water sales enhance Fluence's recurring revenue streams

This project is a milestone for Fluence, as it is the first off-balance sheet, non-recourse project funding arranged by the Company. For this US$48 million project, Fluence has arranged debt financing covering 75% of the project cost from the North American Development Bank (NADB). The remaining equity investment will be provided by Fluence in combination with its local partners.

The project calls for Fluence to build and operate a 5.8 million gallon/day (approximately 22,000 m3/day) seawater desalination plant. The Special Purpose Vehicle owned by Fluence and its local partners will sell the produced water to the area of San Quintin for the next 30 years, after which ownership of the plant will be transferred to the customer.

Like similar projects in Mexico, the San Quintin project faced legislative hurdles that delayed closing since the contract was initially awarded in 2015. Following the passage of local legislation by the government of Baja California in mid-December 2017, Fluence has now successfully achieved financial close.

Fluence expects to receive first disbursement and start construction as early as the beginning of the 3rd quarter of this year, subject to resolution of the local legislation appeal process, which could result in project commencement later in the second half of 2018. The Company expects the plant to be fully operational within 20 months of project commencement, after which water sales are expected to generate US$10 million of recurring annual billings for Fluence.

Commenting on this major milestone, Fluence Managing Director and CEO, Henry Charrabé said: "The San Quintin water desalination plant project is important for a number of reasons. It supports Fluence's projected revenue for 2018, reaffirms the Company's position as a project finance partner for our clients, and increases our recurring revenue base that will underpin future growth. We are targeting additional Build Own Operate Transfer projects later this year."

Commenting on this important project, NADB Managing Director Alex Hinojosa, said: "NADB is pleased to provide this financing for a second desalination plant in Baja California. As groundwater resources become increasingly strained, collaborating with all levels of government in finding the necessary solutions to provide safe water for human consumption and economic development is a priority for the Bank."

When completed, the San Quintin plant's capacity will serve over 100,000 residents in Baja California, a region the Mexican government has declared in drought since 2014. The plant will provide a safe and reliable source of water to San Quintin and neighboring communities in the municipality of Ensenada.

Corporate: 
Henry Charrabé (USA)
Managing Director & CEO
E: hcharrabe@fluencecorp.com
P: +1-212-572-3766 

Richard Irving (USA)
Executive Chairman
E: rirving@fluencecorp.com
P: +1-408-382-9790 

Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
E: rkennedy@fluencecorp.com
P: +61-409-524-442

Investors (Australia):
Ronn Bechler
Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400-009-774

Media (Australia):
Tristan Everett
Market Eye
E: tristan.everett@marketeye.com.au
P: +61-403-789-096 

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)

]]>
newsroom@abnnewswire.net
<![CDATA[ Fluence Corporation Ltd (ASX:FLC) Audited Financial Report 31 December 2017 ]]> en92602 Y https://www.abnnewswire.net/press/en/92602/ Tue, 3 Apr 2018 08:14:01 GMT The directors present their report for the consolidated entity consisting of Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) (formerly Emefcy Group Limited) and the entities it controlled at the end of, or during, the year ended 31 December 2017. Throughout the report, the consolidated entity is referred to as the Group.

Multiple milestones achieved in 2017

During 2017, Emefcy Group Limited successfully undertook the acquisition of the RWL Water Group, with all acquisition-related integration activities completed to form Fluence Corporation Limited. This has enabled Fluence to expand the global reach and market opportunities for its key products: desalination, wastewater treatment and wastewater-to energy.

Notable successes include:

- Innovation drove new market opportunities, including the first SUBRE product contract awarded to upgrade a centralised wastewater treatment plant in Israel. SUBRE enables compliance with tighter nitrogen discharge rules without using hazardous chemicals, while also increasing plant capacity and increase target markets;

- The Group's Chinese subsidiary was incorporated and its manufacturing facility in Jiangsu Province is now operating. First production of MABR Modules was achieved in September 2017;

- Progress in China with the signing of a framework agreement with partner Jiangsu Jinzi Environmental Science and Technology Company. The agreement contemplates the delivery of six Containerized Smart Packaged wastewater treatment plants based on Fluence's MABR technology (C-MABR);

- Exclusive memorandum of understanding (MOU) signed with an African nation to design and construct an advanced water treatment plant;

- EUR1.5 million contract signed with VINCI Construction Grands Projects (France) to supply three NIROBOX(TM) containerized seawater desalination units for the island of Mayotte;

- US Virgin Islands MABR installation received approval from the US Environmental Protection Agency;

- US$1.7 million contract executed with Irotop S.A., a leading Ecuadorian fish processing company, to purify wastewater from its tuna and sardine processing and packing plants;

- Agreement executed with Stanford University to deploy, test for compliance with USA environmental regulations and measure the performance of Fluence's MABR wastewater treatment technology at Stanford's Codiga Resource Recovery Center. The MABR demonstration unit was commissioned in Q1 2018; and

- Awarded the "2018 Global Decentralized Water & Wastewater Treatment Company of the Year" by Frost and Sullivan who noted the key benefits of Fluence's modular, decentralised systems, such as lower operating cost, easier maintenance, and lower capital outlays.

To view the full report, please visit:
http://abnnewswire.net/lnk/20550A1F

Fluence Corporation Ltd
T: +61-3-9824-5254
E: info@fluencecorp.com
WWW: www.fluencecorp.com

]]>
newsroom@abnnewswire.net
<![CDATA[ Fluence Corporation Ltd (ASX:FLC) Awarded Another Rural Wastewater Project in Guizhou Province, China ]]> en92532 Y https://www.abnnewswire.net/press/en/92532/ Mon, 26 Mar 2018 09:06:50 GMT Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce that it has been awarded another contract to deliver its smart-packaged MABR technology solution (C-MABR), for a 1,000 m3/day wastewater treatment plant for the local government of Zhenfeng County, Guizhou province, China.

- Contract generated through repeat customer Jinzi

- Builds on original six C-MABR order under Jinzi's framework agreement

- Fast commissioning time helps secure contract win

The contract was generated through Fluence's local partner in China, Jiangsu Jinzi Environment Company (Jinzi), and is in addition to the order for six C-MABR plants under the companies' November 2017 framework agreement.

Fluence's technology will treat rural wastewater for the Zhenfeng County government utilising the company's C-MABR solution, which consistently meets China's Class 1A effluent standards. In addition to its state-of-the-art technology, Fluence was awarded the contract as a result of fast commissioning - delivery of the entire C-MABR plant, including tertiary treatment and supply of auxiliary supporting equipment, is scheduled to take place in just five weeks.

Commenting on this new contract in China, Fluence Managing Director & CEO Henry Charrabé said: "We are proud of our partnership with Jinzi and are happy to see our collaboration grow in China. Once again, we see that Fluence's C-MABR solution is well-suited for the rural Chinese wastewater treatment market, and we believe we are ideally positioned to capture a significant share of this market. Our ability to rapidly deliver reliable and cost-effective wastewater treatment solutions is recognised by clients and partners and was a key factor in this new contract award."

Commenting on this project, Jinzi Managing Director Xie Xiaodong said: "Jinzi is successfully expanding its wastewater business across China. We are confident that together with Fluence Corporation, we will continue our rapid growth in the environmental services industry. We have partnered with Fluence as we believe that their MABR technology will be widely applied to rural wastewater treatment in China in the near future. I hope that based on our concept of win-win cooperation, Fluence and Jinzi will have a broad, long-term and strategic cooperation in China rural wastewater treatment."

Fluence's C-MABR unit features modular engineering for quick and easy deployment, even in remote areas, energy-saving features and remote monitoring for ease of operation and maintenance. When completed, this Fluence C-MABR project will be part of the largest rural wastewater project in Zhenfeng county, Guizhou province, China.

Corporate: 
Henry Charrabé (USA)
Managing Director & CEO
E: hcharrabe@fluencecorp.com
P: +1-212-572-3766 

Richard Irving (USA)
Executive Chairman
E: rirving@fluencecorp.com
P: +1-408-382-9790 

Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
E: rkennedy@fluencecorp.com
P: +61-409-524-442

Investors (Australia):
Ronn Bechler
Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400-009-774

Media (Australia):
Tristan Everett
Market Eye
E: tristan.everett@marketeye.com.au
P: +61-403-789-096 

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)

]]>
newsroom@abnnewswire.net
<![CDATA[ Fluence Corporation Ltd (ASX:FLC) Announces US$8 Million in New Contract Wins Since 1 January 2018 ]]> en92280 Y https://www.abnnewswire.net/press/en/92280/ Tue, 6 Mar 2018 08:38:51 GMT Fluence Corporation Limited (ASX:FLC) (OTCMKTS:EMFGF) is pleased to announce that it has delivered US$8 million in new contract wins calendar year-to-date including the three NIROBOX(TM) orders announced on 1 March 2018. The new contracts were across the Company's growing global footprint, and further strengthened Fluence's market position in designated industries and geographies.

- Repeat orders received from customers in Italy and the USA

- Expansion of existing system for customer in Argentina

- Order received from Brazil's largest national pharmaceutical group

Commenting on Fluence's start to 2018, Managing Director & CEO Henry Charrabé said: "We are encouraged by the start of 2018, with US$8 million in new contracts written over the past eight weeks. The diversity of project sizes, scopes, industries and geographies speak to Fluence's role as a solutions provider for the complete water cycle across the globe. The mix of new and repeat customers reflects the quality of our products and services, and our focus in being a true partner to our customers."

The following new contracts outlined in this release, in addition to the new NIROBOX(TM) contracts (announced on 1 March 2018), are the major contracts within the US$8 million in new contracts secured by Fluence so far this year.

An important repeat customer in the agro-industry has once again entrusted Fluence Italy with the task of designing and implementing an upgrade and expansion of their aerobic treatment line. This is the twelfth project that Fluence Italy has won from this client since 2006, reflecting the reduction of costs achieved with Fluence's technologies and expansion of capacities for the client. Discussions are already on going with this client as they plan their next project with Fluence, to be implemented in 2019.

Fluence Argentina will design and deliver to Aguas Bonaerenses, S.A., among the largest municipal utilities in Buenos Aires, a reverse osmosis (RO) system as an expansion of 3,000 m3/day to their existing installation, with added filtration and treatment systems to aid in arsenic removal (a prevalent health issue in the area).

Fluence Brazil will design and deliver a turn-key wastewater treatment plant for industrial process reuse to Brazil's largest national pharmaceutical group. This group selected Fluence to provide this solution, utilising RO, ultra-filtration and MBBR, among other technologies, to supply 7.5 m3/hour of process water to their operation in Sao Paulo due to its recognised mastery of the technologies and practices relating to this application.

Another repeat customer, a renowned food and beverage industry client, has entrusted Fluence USA's equipment to upgrade their aeration process for an additional two lagoons, following last year's order which introduced them to Fluence's best-in-class Tornado Surface Aspirating Aerator/Mixer. The highly reliable nature of the equipment and service provided by Fluence enables this client to comply with local regulations in an efficient and cost-effective manner.

Corporate: 
Henry Charrabé (USA)
Managing Director & CEO
E: hcharrabe@fluencecorp.com
P: +1-212-572-3766 

Richard Irving (USA)
Executive Chairman
E: rirving@fluencecorp.com
P: +1-408-382-9790 

Ross Kennedy (Australia)
Company Secretary & Advisor to the Board
E: rkennedy@fluencecorp.com
P: +61-409-524-442

Investors (Australia):
Ronn Bechler
Market Eye
E: ronn.bechler@marketeye.com.au
P: +61-400-009-774

Media (Australia):
Tristan Everett
Market Eye, Market Eye
E: tristan.everett@marketeye.com.au
P: +61-403-789-096 

Investors & media (USA):
Gary Dvorchak, CFA
The Blueshirt Group
E: gary@blueshirtgroup.com
P: +1-323-240-5796 (US) or +86-138-1079-1480 (China)

]]>
newsroom@abnnewswire.net
<![CDATA[ Stellar Films Launches Sustainable Personal Care Films Made from Cardia (ASX:CNN) Biohybrid Technology ]]> en78730 Y https://www.abnnewswire.net/press/en/78730/ Thu, 20 Nov 2014 23:15:57 GMT Cardia Bioplastics Limited (ASX:CNN) (OTCMKTS:CDRBY) is pleased to announce that Australian Stellar Films and Cardia Bioplastics have partnered to produce environmentally friendly, high quality and cost competitive Biohybrid(TM) films tailored for the global personal care and hygiene products industry.

Stellar Films are an international manufacturer of finest quality films that fully meet their customers' needs, including films for the disposable nappy/diaper, feminine hygiene, incontinence and medical disposable markets including films for packing of surgical instruments, surgical drapes and gowns.

Cardia Biohybrid(TM) proprietary technology combines renewable thermoplastics with polyolefin material to reduce dependence on finite oil resources and lower carbon footprint. The Biohybrid(TM) film produced on Stellar Films proprietary cast film process exhibits a high performance property profile. It is differentiated through its unique soft touch and warm feel that is ideal for personal care product applications like nappies/diapers, feminine or incontinence products.

Stellar Films will launch the Biohybrid(TM) film range as environmentally friendly product expansion aimed at capturing a share of the three hundred million dollar hygiene product films market. Stellar Films new range of Biohybrid(TM) Films will be launched at Outlook Asia 2014, the world's premier non-woven personal care products conference in Singapore commencing 26 November 2014.

Please find attached the media release.
http://media.abnnewswire.net/media/en/docs/78730-ASX-CNN-828887.pdf

Cardia Bioplastics Limited
F: (03) 9813 2668
WWW: www.cardiabioplastics.com

]]>
newsroom@abnnewswire.net
<![CDATA[ Cardia Bioplastics (ASX:CNN) Receives IAIR Green Excellence Award ]]> en76708 Y https://www.abnnewswire.net/press/en/76708/ Mon, 3 Mar 2014 13:37:30 GMT Cardia Bioplastics Limited (ASX:CNN) is pleased to announce that it has been awarded the IAIR Green Excellence Award. IAIR Awards is one of the world's leading ranking and prize for excellence in global economy and sustainability.

After conducting a global survey of 50,000 readers, the IAIR - Global Economy & Sustainability announced Cardia Bioplastics as the winner in the category of Leadership in Innovation & Sustainability in Packaging for Asia Pacific.

For a company with humble beginnings in Australia that has grown to an international leader in bioplastics, this Award is further confirmation of Cardia's ability to develop leading sustainable solutions.

With an intellectual property portfolio of 11 patent families and 12 patents so far granted in key markets, Cardia, with its customers, has commercialised a wide range of innovative productsmadewith its proprietary bioplastics technology. Products include air cushion packagingmade fromrenewable resources, compostable ice cream sticks replacing wooden ones, soft and compostable nappy product and packaging films, compostable food and coffee packaging, cutlery made from renewable resources for snack food industry, Biohybrid films for bulk water packaging replacing rigid plastic containers, cosmetics and nutritional packaging made with less oil.

Dr Frank Glatz, Cardia Bioplastics Managing Director who received the Award on behalf of Cardia in Hong Kong on 28 February said, "We are very excited to have been awarded the IAIR Green Excellence Award in Sustainable Packaging. It really does cement Cardia's reputation for leadership in innovation and sustainability in packaging."

"We hope that this will demonstrate the diversity and long term possibilities of bioplastics," continues Dr Glatz.

The Awards ceremony will be followed by an IAIR AWARDS 2014 road show, which will see Awards recipients promoted at the London Stock Exchange, in New York and São Paulo.

Cardia Bioplastics is in good company, with past IAIR award recipients including companies such as Toyota, Panasonic, Johnson & Johnson, Danone, L'Oreal, Sony, Adidas, Canon, Samsung, Ikea, Harvard, Mayo Clinic, UPS, Siemens, Nestlé, Microsoft, Starbucks, Deutsche Bank, Morgan Stanley, Bank of China, Rockefeller, Rothschild, Vodafone, Novartis, BASF, Daimler, Royal Dutch Shell, Christian Dior, FedEx, Cartier and Citibank.

Dr Frank Glatz
Managing Director
Cardia Bioplastics
+61 400 930 530
f.glatz@cardiabioplastics.com

Nadya Krienke-Becker
Global Head of Marketing
Cardia Bioplastics
+61 414 672 863
n.krienke-becker@cardiabioplastics.com

]]>
newsroom@abnnewswire.net
<![CDATA[ Cardia Bioplastics (ASX:CNN) Develops Innovative Biohybrid(TM) Films Technology for Bag-in-Bag Water Packaging ]]> en76692 Y https://www.abnnewswire.net/press/en/76692/ Thu, 27 Feb 2014 15:03:45 GMT Cardia Bioplastics Limited (ASX:CNN) is pleased to announce that it has developed proprietary Biohybrid(TM) packaging films tailored to the innovative bag-in-bag water packaging process. Australian BOS Water and Canadian Yukon Spring have launched their 'Bag-of-Spring Water' offering made from Cardia Biohybrid(TM) packaging in the Australian and Canadian markets.

Cory Reeve, Manager of BOS Water, stated: "We have launched our 'Bag-of Spring Water' offering in the Australian water distribution market. Our BOS Water bulk packaging redefines the entire bulk water supply chain. Replacing the traditional polycarbonate rigid bulk water bottles with our single-use Biohybrid(TM) bag solution, delivers commercial and environmental benefits to our spring water customers. This is of particular benefit to our mining and oil and gas customers operating in remote locations where the supply chain management of traditional rigid plastic bottles is particularly challenging and costly."

Paul Sheridan, President of Yukon Spring Inc., expanded: "Yukon Spring water is nowavailable to be delivered to water coolers in a bag-in-bag format. We at Yukon Spring have chosen Cardia Biohybrid(TM) Bag-in-Bag packaging films as they are tailored to our bagged water production process and deliver exceptional Bag-in- Bag product performance. This single-use water bag is financially and environmentally attractive to our customers. They save the deposit on bulk water bottles and the hassles of managing bottle returns. In addition, the Biohybrid(TM) water bag offering is good for the environment as they are made with less oil and deliver a much lower carbon footprint than conventional packaging options.

"We are excited to be launching our Biohybrid(TM) packaging films with BOS Water and Yukon Spring in the Australian and Canadian water distribution markets," said Cardia Bioplastics Managing Director Dr Frank Glatz. "Collaborating with these innovative companies presented an exciting opportunity to develop high performance packaging with lower environmental impact. The bag-in-bag water packaging application expands the commercial successes of our Biohybrid(TM) packaging and further validates the commercial appeal of our unique patented resin technology. There are significant opportunities in extending the application of the Bag-in-Bag system to other bulk beverage and liquid product dispensing systems."

"In addition to offering a product with beneficial environmental profile and full food safety compliance, delivering superior packaging performance through the product life cycle is a key criterion for success."

The global bottled water market has seen a remarkable and continued annual growth, with much of the growth in global still water consumption been driven by water for coolers and other bulk formats. In 2012, retail sales of bottled water in Canada reaching 2.3 billion litres, while value grew 3% to reach C$2.3 billion.

Bottled water sales in Australia generated A$1.4 billion in 2012, an increase of just over 3% in current value terms compared to the previous year. The Asian/Australasian region is second only to Western Europe in terms of volume consumption and is the fastest growth region across the globe. In terms of per capita consumption, the highest is in Australia, Indonesia and South Korea.

About BOSWater

BOS Water is a subsidiary of Pacific Springs, a Family Owned and established company we don't only strive on providing the purest, most refreshing spring water possible but we also strive on the satisfaction of our customers. BOS Water Natural Spring Water & Filtration Systems have been in business since 1995, established by Shane & Debbie Reeve who are still the operating Directors of the company.

About Yukon Spring

Yukon Spring Inc based inWhithorse, Yukon, is a Canadian water business selling world class quality potable drinking water. Established in 1988, Yukon Spring is a family owned and managed company committed to product quality and superior customer service.

To view photographs, please visit:
http://media.abnnewswire.net/media/en/docs/76692-ASX-CNN-785278.pdf

Dr Frank Glatz
Managing Director
Cardia Bioplastics
+61 400 930 530
f.glatz@cardiabioplastics.com

Nadya Krienke-Becker
Global Head of Marketing
Cardia Bioplastics
+61 414 672 863
n.krienke-becker@cardiabioplastics.com

]]>
newsroom@abnnewswire.net
<![CDATA[ Cardia Bioplastics (ASX:CNN) (OTCMKTS:CDRBY) Compostable Resin and Process Secures Patents in USA ]]> en76672 Y https://www.abnnewswire.net/press/en/76672/ Mon, 24 Feb 2014 10:27:36 GMT Cardia Bioplastics Limited (ASX:CNN) (OTCMKTS:CDRBY) is pleased to announce that it has secured patent protection for its Cardia Compostable resin family of products from the United States Patent and Trademark Office. The U.S. patents 8,067,485 and 8,232,348 were granted for Cardia's unique and innovative compostable resin formulations and production processes.

Highlights:

- United States Patent and Trademark Office grants patents for Cardia Compostable resin and process
- Intellectual Property underpins commercially successful Cardia Compostable product range
- Cardia Bioplastics' technical differentiation endorsed with patents
- Cardia capitalises on growth of bioplastics in the North American market

To view the media release, please visit:
http://media.abnnewswire.net/media/en/docs/76672-ASX-CNN-784088.pdf

Richard Tegoni
Chairman
Cardia Bioplastics Limited

Cardia Bioplastics Limited
F: (03) 9813 2668
WWW: www.cardiabioplastics.com

]]>
newsroom@abnnewswire.net
<![CDATA[ Cardia Bioplastics (ASX:CNN) Wins Waste Management Supply Contract Into Nanjing,China ]]> en76650 Y https://www.abnnewswire.net/press/en/76650/ Mon, 17 Feb 2014 11:47:53 GMT Cardia Bioplastics Limited (ASX:CNN) is pleased to announce that it is has been selected as preferred supplier of waste management products by the Nanjing Jianye District. Cardia received the first quarter order of A$250,000 for the supply of Cardia waste management bins and Cardia Biohybrid(TM) kitchen waste bags to the individual households of this region with a forecast of A$1 million annual supply requirement. Cardia Biohybrid(TM) kitchen waste bags are made with Cardia's proprietary Biohybrid(TM) technology that uses less oil, is cost competitive and delivers a lower carbon footprint compared to conventional plastics.

The contract win follows the successful one-year trial of Cardia products in Nanjing's various city districts. Nanjing Jianye District is the first city district to have moved forward with full commercial roll out of their organic waste diversion programme using Cardia products. Nanjing's other district councils are at various stages of their trial programmes, with several councils expected to progress to full-scale implementation. With a population of over 6 million, Nanjing is actively moving towards organic waste diversion.

Dr. Frank Glatz, Managing Director of Cardia Bioplastics said: "This marks an important milestone for Cardia Bioplastics waste management products business in China and builds on the existing A$1.2 million annual supply contract with Shanghai Pudong. The success of winning these contracts is a result of our superior product technology, validation of product performance and effective supply capability by our manufacturing plant in Nanjing, China. Based on the trial programmes that are already in progress in other districts in China we are confident in our corporate strategy of securing additional long-term contracts."

Mr. Jacky Chen, Cardia Bioplastics Global Director of Sales and Head of China Operations stated: "We are delighted with this outcome and will continue to develop and maintain strong Government relationships to work with China City Councils towards managing household waste sustainability and reducing their environmental footprint."

Cardia also has a certified compostable product offering in its organic waste management business, which is delivering sales in Australia, New Zealand, Malaysia, Canada, USA, Brazil and the UK.

The Nanjing waste management contract continues to build on Cardia's growth, with recent announcements made regarding supply contract wins with Brazilian Ricoy supermarkets and Cardia's Bag and Film production expansion.

About Nanjing Jianye District

Nanjing is the capital of Jiangsu province in eastern China. With a population of over 6 million, Nanjing is the second-largest commercial centre in the East China region. Nanjing Jianye is one of 13 districts of Nanjing City. Jianye is characterized by its long history, its green environment and its commercial leadership position. It is currently being developed into a modern district with a wide range of high technology industries. Nanjing city will host the 2014 Summer Youth Olympics with its Olympic Sports Centre located and key activities taking place in Jianye District.

To view pictures, please visit:
http://media.abnnewswire.net/media/en/docs/76650-ASX-CNN-782649.pdf

Cardia Bioplastics Limited
F: (03) 9813 2668
WWW: www.cardiabioplastics.com

]]>
newsroom@abnnewswire.net
<![CDATA[ Cardia Bioplastics (ASX:CNN) (CDRBY) Signs Supply Contract with Ricoy Supermercados in Brazil in lead up to FIFA World Cup ]]> en76633 Y https://www.abnnewswire.net/press/en/76633/ Wed, 12 Feb 2014 11:29:47 GMT Cardia Bioplastics Limited (ASX:CNN) (OTCMKTS:CDRBY) continues to expand its retail carrier bag sales in international markets after having been selected as the preferred bag supplier to Ricoy Supermercados in Brazil.

Highlights:

Annual contract to supply Ricoy Supermercados, one of Brazil's largest supermarket chains

Ricoy Supermercados initially trialled US$150,000 of Cardia Bioplastics bags over 4 months and successfully validated Cardia's product quality

Cardia Bioplasticos (Brasil) Ltda. set up resources and infrastructure to supply both resin and finished goods to the large Brazilian plastics and retail market

Cardia's Brazilian sales gaining traction in the lead up to the 2014 FIFA World Cup Brazil(TM) and Rio 2016(TM) Olympic and Paralympic Games

Ricoy Supermercados is one of Brazil's large regional supermarket chains operating 90 stores with more than 8500 employees in Brazil's premier state of Sao Paulo. Ricoy Supermercados, through its subsidiary Russi Supermercados ordered US$150,000 of Cardia Bioplastics bags over 4 months and successfully validated Cardia's product quality. An annual supply agreement has been executed with forecast of 5 Million Cardia Bioplastics bags (US$7OK) per month based on initial orders.

Brazil is South America's largest consumer market and the seventh largest globally. With the impending 2014 FIFA World Cup Brazil(TM), Rio 2016(TM) Olympic and Paralympic Games as well as changing legislation increasing demand for Cardia Biohybrid(TM) and compostable bags, Cardia's entry into the Brazilian market is well timed.

"We are very excited to be supplying Ricoy Supermercados," said Cardia Bioplastics Managing Director Dr Frank Glatz. "As one of Sao Paulo State's largest supermarket chains, we have entered the market working with a true leader."

"The opportunities for growth in Brazil are immense. Our team in Brazil is perfectly placed to continue to grow the business at such an exciting time," he said. "Working in Brazil, we recognise that having a local team who understands the culture and regulations is imperative to Cardia's success."

"Cardia Bioplasticos (Brasil) Ltda. under the leadership of Joao Paulo Mignot, Cardia's Managing Director Latin America, has set up resources and infrastructure to supply both resin and finished goods to the large Brazilian plastics and retail market."

The Ricoy Supermercados agreement follows further wins for Cardia Bioplastics having won major contracts in China including supplying Shanghai Pudong Council with its Biohybrid(TM) waste management products.

About Ricoy Supermercados

Ricoy Supermercaclos is a Brazilian supermarket chain operating primarily in the state of Sao Paulo. With revenues of BRL 1.8 billion, 90 stores and more than 8500 employees it ranks as fourth largest supermarket chain in the state of Sao Paulo and fifteenth largest in Brazil. Ricoy operates under the brands Supermercado Ricoy, The Most, Peri, Russi, Economax, The More and Honey Bread. Ricoy positioned itself as a supermarket that gives its customers a shop they trust, delivering quality, value and service. Russi Supermercados is a subsidiary of Ricoy operating 16 stores in the city ofluncliai and its surrounding region.

Dr Frank Glatz 
Managing Director 
Cardia Bioplastics
TEL: +61-400-930-530
E: f.glatz@cardiabioplastics.com

Nadya Krienke-Becker
Global Head of Marketing
Cardia Bioplastics 
TEL: +61-414-672-863
E: n.krienke-becker@cardiabioplastics.com

]]>
newsroom@abnnewswire.net
<![CDATA[ University of Sydney partnering with Cardia Bioplastics Limited in development of CO2S technology for Bioplastics ]]> en75281 Y https://www.abnnewswire.net/press/en/75281/ Wed, 5 June 2013 12:45:26 GMT The following Media Release is made by the University of Sydney, partnering with Cardia Bioplastics Limited in development of CO2S technology for Bioplastics.

Biomolecular engineers at the University of Sydney are creating cleaner, more costeffective PPC polymers that promise to transform the biodegradable polymer industry.

The plastics being developed will have a broad range of usability, at one end of the spectrum being used for fully recyclable shopping bags, at the other, as restorative implants in the human body.

A team led by Associate Professor Fariba Dehghani from the Faculty of Engineering and Information Technologies has commenced a project to design a process for creating purified biodegradable, renewable and CO2 based polypropylene carbonate (PPC) polymers.

"The project's aim is to minimise reliance on fossil fuels and address the current problems with commercial production of sustainable bio plastics PPC starch not just in Australia but globally," states Professor Dehghani.

The team is developing large scale solvent free technologies that reduce the levels of heavy metal used in PPC.

The project has been funded by both the Australian Research Council and ASX listed Bioplastics company Cardia Bioplastics Limited (CNN) through its 100 percent owned subsidiary CO2Startch Pty Ltd that also has commercialisation rights to the PPC process that aims to reduce zinc levels in the PPC manufacturing process.

Cardia is the manufacturer of the world's first Co2 plus starch carrier bag utilising Cardia's patented PPC and starch blending technology. University of Sydney and Cardia are partnering to develop new applications with PPC, the first being a medical application. The outcomes of the project will have enormous significance for both our environment and human health states Professor Dehghani.

"The clean technologies we develop will make it possible to produce environmentally friendly plastics utilising waste CO2.

"Converting captured CO2 into products such as chemicals, plastics or other commodities is pivotal in our attempts to reduce the need for volatile organic compounds (VOCS)," says Professor Dehghani.

"VOCs include a variety of chemicals, some of which can have short or long-term adverse health effects and are also potentially disastrous for our environment." The process being developed by Professor Dehghani's team could have international reach with its adaptation assisting in reducing carbon emissions in countries where geologic storage of CO2 is impossible.

On the health front Professor Dehghani says the synthetic polymer can be used as an alternative for a range of biomedical applications such as musculo-skeletal tissue engineering and drug delivery.

The cost-effective and biomimetic product could be used to treat many bone diseases such as osteoporosis and musculoskeletal injuries that affect over 3.8 million Australians.

Media enquiries: 
Victoria Hollick 
TEL: +61-2-9351-2579
MOB: +61-401-711-361
victoria.hollick@sydney.edu.au

]]>
newsroom@abnnewswire.net
<![CDATA[ Breville Goes Green with Cardia (ASX:CNN) Compostable Juicer Bags for its Juicer Products ]]> en74863 Y https://www.abnnewswire.net/press/en/74863/ Wed, 20 Mar 2013 15:12:59 GMT Cardia (ASX:CNN) is pleased to announce that Breville Group Limited, a global designer and manufacturer of small kitchen appliances will purchase and market Cardia's compostable "juicer bags" as part of its Juicer accessory offering to consumers.

The agreement is expected to generate strong sales for Cardia and the launch follows on from Cardia's ASX announcement made on the 21st of August 2012.

Breville is a leader in juicer sales and has launched the compostable "juicer bags" in packs of 30, for sale where you can buy Breville Juicers in the USA and can also be purchased online at www.brevilleusa.com.

Breville's launch in the USA has implemented the 100% compostable "the Clean & Green(TM)" juicer pulp bag, with its Juice Fountain(R) range of juice extractors to encourage environmentally-friendly waste disposal practices.

Breville's USA Category Manager for Food Prep, Michelle Smith-Aiken said: "We recognized that consumers are always looking for even faster clean-up when they're using a juicer and that most were using their produce bags in their pulp bins to help with the clean up. We saw this as an unhealthy disposal of plastic and wanted to come up with a more environmentally responsible way. The Clean & Green(TM) juicer bags are the solution for a faster clean up while providing a fully compostable - biodegradable option to dispose of the pulp.

Cardia's Chairman Mr Pat Volpe said: "Partnering with a global consumer products company such as Breville on this project and the successful launch by Breville to its customer base in the USA, is an endorsement and credit to Breville as they lead the way to environmental friendly practices. It also demonstrates Cardia's versatile Bioplastics technologies as Cardia wins the confidence of a world class designer and maker of kitchen appliances"

This is an important achievement for Cardia and adds another leading global brand to the Company's customer portfolio. This also confirms Cardia's view of a global shift with major brand owners and packaging companies wanting to transition from conventional oil based plastic packaging products to bioplastics that have and environmental benefit and a lower carbon foot print.

The global shift towards green economies is gaining significant traction as individuals, companies and Governments are looking at ways to reduce their impact on the environment and looking at new technologies that can reduce their carbon footprint.

Cardia is well-placed to capitalise on this trend supported with a patented portfolio comprising a number of renewable resin technologies,

Mr Pat Volpe
Cardia Bioplastics
TEL: +61398307676
EMAIL: patv@cardia.com.au

]]>
newsroom@abnnewswire.net
<![CDATA[ Custom Bioplastics (U.S.A) To Market the New "Bio-buddy(TM) Dog Waste Bag" Using Cardia's (ASX:CNN) Unique Biohybrid(TM) Technology. ]]> en74853 Y https://www.abnnewswire.net/press/en/74853/ Tue, 19 Mar 2013 11:05:40 GMT Cardia Bioplastics Limited (ASX:CNN) and USA-based Custom Bioplastics LLC have announced the launch by Custom Bioplastics of the new "Bio-buddy(TM) dog waste bag" developed using Cardia's new and unique Biohybrid(TM) technology.

The new "Bio-buddy(TM) dog waste bag" is now being manufactured and marketed into the USA and online by Custom Bioplastics, an established USA manufacturer of blown and cast film plastic packaging located in the Pacific Northwest. The "Bio-buddy(TM) dog waste bag" is offered as a new lower carbon footprint alternative to conventional oil-based dog waste bags The number of dog waste bags used in the U.S.A runs into the hundreds of millions annually.

Governments and pet owners are looking for a sustainable and renewable alternative to the conventional dog waste bag that is now available with the "Bio-buddy(TM) dog waste bag". The photo shows the new "Bio-buddy dog waste bags" developed using Cardia unique Biohybrid(TM) technology.

The new "Bio-buddy dog waste bags" has been developed using both Cardia unique Biohybrid(TM) technology that requires less oil hence has a lower carbon footprint. Custom Bioplastics also use recycled plastics in the manufacturing process.

Custom Bioplastics Managing Director, Mr Dick Mathes, said "their new Biohybrid(TM) Bio-buddy dog waste bag is made with a combination of recycled resin and Cardia's Biohybrid(TM) technology.

Bio-buddy's Biohybrid(TM) dog waste bags allow for plant starch to be combined with recycled resin.

The plant starch lessens the total carbon footprint of the bag along with creating a bag that is soft and silky to the touch. This introduction is result of a desire of Custom Bioplastics to provide a dog waste bag that follows the newly issued FTC Green Guidelines and laws being enacted in California.

Mr Mathes emphasised: Custom Bioplastic strategy on responsible packaging. "We are excited to work with Cardia Bioplastics. Our packaging products made from their Biohybrid(TM) resins will form an integral part of our responsible plastic bag and film offering," he said.

Cardia's Chairman Mr Pat Volpe said: "The product has been developed with Custom Bioplastics to meet the growing demands for a sustainable pet waste bag with a lower carbon footprint, driven by consumer, brand owners, government and municipals."

"The Bio-buddy dog waste bag demonstrates the latest in sustainable technology and again confirms the diverse application of Cardia's Biohybrid(TM) proprietary technology. Cardia's main advantage besides the soft touch is that we deliver a product with a lower carbon footprint using renewable and sustainable resources - in line with the recent growing global trend."

"The "Bio-buddy dog waste bag" is a positive example of an application that now meets these requirements and is a great achievement by both companies." Mr Volpe also said.

For Custom Bioplastics, this is an endorsement of the company's commitment to providing its customers with the option to purchase innovative plastic film products with lower carbon footprint.

The global shift towards green economies is gaining significant traction as individuals, companies and Governments are looking at ways to reduce their impact on the environment and looking at new technologies that can reduce their carbon footprint.

Cardia is well-placed to capitalise on this trend supported with a patented portfolio comprising a number of renewable resin technologies.

Dick Mathes
Custom Bioplastics
360-757-8880
dick@custombioplastics.com

Mr Pat Volpe
Cardia Bioplastics
+61398307676
patv@cardia.com.au

]]>
newsroom@abnnewswire.net
<![CDATA[ Australian Market Report of November 20: A Drop in Risk Appetite ]]> en61781 Y https://www.abnnewswire.net/press/en/61781/ Fri, 20 Nov 2009 13:00:08 GMT US stocks fell for the second day after a downgrade of technology companies such as Intel. Energy and materials shares also showed losses as commodities prices tumbled.

On Friday the Australian market opened in a negative territory after a fall in Wall Street. Yesterday the local shares closed marginally higher supported by resources sector. The benchmark S&P/ASX200 index closed 10.2 points, or 0.22 per cent higher, at 4749.2 points, while the broader All Ordinaries index gained 8.2 points, or 0.17 per cent, to 4767.8 points.

The Australian dollar continued to sink this morning and opened below $US0.9200 as weaker commodities prices. US dollar's rebound also weighed on the risk sensitive Aussie dollar. At 7am AEDT, the dollar was trading at $US0.9189/90.

Key Economic Facts and Figures

Reserve Bank assistant governor Guy Debelle said overall margins on variable rate housing lending relative to bank funding costs have actually declined a little over the past two years. Banks have to pay more for money sourced from overseas and they are paying substantially more interest on Australian deposits.

The Organisation for Economic Cooperation and Development (OECD) said in its Economic Outlook that it expected Australia to experience a relatively more robust recovery, having been affected less by the global crisis than most other OECD countries. It is forecasting economic growth of 0.8 per cent in 2009, rising to 2.4 per cent in 2010. But the OECD also expects Australian unemployment to peak at 6.3 per cent in 2010.

M&A News

ANZ (ASX:ANZ) today said in a statement that it has agreed to sell its Custodian Services business in Australia and New Zealand to JP Morgan as the bank is refocusing its institutional business on core banking priorities in Australia, New Zealand and Asia. Sale completion is expected before December 31, subject to regulatory approvals, and will be followed by a progressive transfer of business and staff during 2010.

Amcor Ltd (ASX:AMC) noted an announcement lodged by subsidiary AMVIG Holdings Ltd (HKG:2300) with the Hong Kong Stock Exchange, advised that the proposed Brilliant Circle transaction will not be proceeding as proposed after the results of the extraordinary meeting held on November 19. Separately, Amcor yesterday said it will raise US$850 million by issuing fixed coupon notes to US private investors.

Medic Vision Ltd (ASX:MVH) has assessed two companies with which it had signed heads of agreements. The first was the purchase of 100 per cent of a digital marketing and communications company, cBox Pty Ltd, and the other was for the purchase of 51pc of a company that was synergistic with Medic Vision's Red Paragon subsidiary. The company decided not to proceed with the latter.

Important Corporate News

Sims Metal Management Ltd (ASX:SGM) is to raise A$400 million via a fully underwritten placement. The company will also provide an offer to eligible shareholders of up to A$15,000 of shares through a share purchase plan (SPP). The target amount to be raised under the SPP is A$75 million and it is not underwritten. The proceeds will be used to repay debt and fund working capital.

Woodside Petroleum (ASX:WPL) expects a cost increase of between A$672 million and A$1.1 billion at its Pluto liquefied natural gas project in Western Australia after a review of the cost and schedule. The cost of the project is likely to be 6 per cent to 10 per cent above its original July 2007 estimate of A$11.2 billion due to lower than budgeted productivity in both onshore and offshore construction. ]]>
newsroom@abnnewswire.net
<![CDATA[ UNFCCC To Meet World's Carbon Buyers And Sellers In China ]]> en61642 Y https://www.abnnewswire.net/press/en/61642/ Mon, 26 Oct 2009 17:02:23 GMT Dr. Yvo de Boer, Executive Secretary of the UN agency in charge of the Kyoto Protocol, has just confirmed that a representative from their Accreditation and Project Assessment unit will be meeting with carbon buyers and sellers in China, in a last chance for the industry to meet before the Copenhagen climate negotiations determine a successor to the current treaty expiring in 2012. Ms. Maria Laura Vinuela will be joining them at the World Carbon Conference in Beijing together with China's NDRC Energy Research Institute, the European Commission, and likely representatives from the Indian negotiating team and the World Bank. Ms. Vinuela will be meeting with CEOs and Managing Directors from across the worldwide carbon finance industry to gain feedback on the project registration process and provide updates on the latest developments in the current carbon trading framework.

"Truly it is an honour that such high-level representatives from the public and private sectors are joining us for such a momentous event," says Rex Ian Sayson, creator of highly successful energy industry events and director at the Singapore-based AMG Center for Energy Sustainability and Economics, which is hosting the meeting. "This is the last chance for industry and government to come together before Copenhagen and solve the current challenges in carbon trading, and engage key markets in China, India, Japan, Europe and the United States."

Also joining the meeting are key industry players such as China carbon industry doyenne Victoria Wang, Garry Kolafa of the Kuwait Oil Company, Kisor Mukherjee and Gauri Bholay of Reliance Industries, Jeff Huang, Assistant Chairman of the Tianjin Climate Exchange, Kenneth Wong and Xenos Hung of CLP Holdings (Hong Kong's biggest power producer and one of the top investors into mainland China's power industry), Junji Hatano, Kyoko Tochikawa and Coty Tsui of Carbon Partners Asiatica, among an estimated over 100 attendees total.

Media giants Bloomberg, CNBC and Platts will also be sending representatives to the event, along with 16 media and association partners that have joined the event including the European Chamber of Commerce in China.

The World Carbon Conference is the only international carbon industry meeting in China before the Copenhagen negotiations, providing a venue for project developers, carbon funds, government agencies, project owners, technology providers, law firms, investors, carbon compliance buyers, carbon exchange operators, DOEs and other stakeholders in emissions reduction to work out current challenges and build relationships for future projects. The conference will cover projects and opportunities in China, India, Southeast Asia, the Middle East, and the rest of the world.

Paul Adams
TEL: +65 6844 2080
Email: padams@arcmediaglobal.com
Web: www.arcmediaglobal.com/carbon

]]>
newsroom@abnnewswire.net
<![CDATA[ Australian Market Report of July 3: Surprised by US Unemployment Data ]]> en60996 Y https://www.abnnewswire.net/press/en/60996/ Fri, 3 July 2009 13:00:18 GMT Overnight Wall Street ended the trading session before Independence Day holiday in red, as the US Labor Department said non-farm payrolls slashed 467,000 jobs in June, a much greater decline than the 350,000 jobs economists had expected.

Yesterday the Australian market posted a marginal rise as investors were cautious ahead of US jobs data in June. The benchmark S&P/ASX200 index was 3.3 points, or 0.09 per cent higher, at 3877.3 points, while the broader All Ordinaries index gained 2.9 points, or 0.07 per cent, to 3875.2 points.

Key Economic Facts and Figures

Job losses in the construction sector soared to 48,000 nationally in May, a 57 per cent rise in six months, as the collapse in new building work takes its toll. Of the 26,600 jobs lost there since August, 18,115 have been in building and associated jobs, according to industry group the Urban Development Institute of Australia.

The Australian Bureau of Statistics data shows that Australia's trade balance has remained in deficit for the second straight month as the nation's exports continued to decline. The balance of goods and services was a deficit of A$556 million in May, seasonally adjusted, from a deficit of A$282 million in April. Economists expect the monthly deficits continue due stronger demand for imported goods as the local economy recovers toward the end of 2009.

M&A News

Sims Metal Management Limited (ASX:SGM), the world's largest listed metal and electronics recycling company, today announced the acquisition of the assets of the US-based Fairless Iron & Metal. The financial terms of the transaction were not disclosed, however, the purchase price consideration is not material to the company, Sims said in a statement.

It is reported that ANZ Banking Group (ASX:ANZ) and British bank Standard Chartered (LON:STAN) are set to divide up the Asian assets of embattled Royal Bank of Scotland. Standard was in pole position to acquire RBS units being sold in China, India and Malaysia, while ANZ was set to win control of assets in Hong Kong, Indonesia, Singapore, Taiwan and Vietnam.

BHP Billiton (ASX:BHP) has agreed to sell its Yabulu nickel refinery in Queensland to Australian mining magnate Clive Palmer for an undisclosed amount. BHP would write down the value of Yabulu assets by $US500 million and write off a further $US175 million in unrecoverable tax benefits. The sale is expected to be finalised by July 31.

Gunns Ltd (ASX:GNS) has acquired a 17.9 per cent stake in Forest Enterprises Australia Ltd (ASX:FEA) at 10 cents per share. Gunns said it would fund the acquisition of the shares via a placement of 5.7 million Gunns shares and a cash payment of A$1.58 million.

Santos (ASX:STO) said it had paid A$176 million for Hillgrove Resource's (ASX:HGO) 19.9 per cent stake in NSW-based CSG explorer Eastern Star Gas (ASX:ESG). It has also acquired Gastar Exploration's (TSE:YGA)( AMEX:GST) 35 per cent interest in various Gunnedah Basin CSG exploration permits and production areas operated by Eastern Star for A$300 million.

Important Corporate news

Rio Tinto (ASX:RIO) said its 21-for-40 renounceable rights issue received acceptances for 142 million shares, against the total offer of 150 million. Rio Tinto has requested a trading halt on its shares as it seeks subscribers for the remaining new shares in its Australian rights issue. The Australian leg of the issue raised A$4.02 billion.

Emergent Resources (ASX:EMG) said today it has entered into a commercial in-confidence non-binding memorandum of understanding (MOU) with the state-owned China Metallurgical Investment Co Ltd (CMIC) for the development of the company's Beyondie iron project in Western Australia's mid-west iron ore region.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

]]>
newsroom@abnnewswire.net
<![CDATA[ GLOBAL GREEN TECH (HK) Gets Site Approval for Recycling Plant ]]> en31038 Y https://www.abnnewswire.net/press/en/31038/ Wed, 4 Jan 2006 11:11:34 GMT
The Company is pleased to announce that Hong Kong Science and Technology Parks Corporation has approved the Group's application for a site located at Yuen Long Industrial Estate to pursue its recycling business. As the entering into the recycling business is one of the Group's major movements in the coming years, it is expected that the Group will invest about HK$250 million to pursue the recycling business and the construction of the recycling plant will start in the first quarter in 2006.

Global Green Tech Group Limited
Lau Jin Wei, Jim

]]>
newsroom@abnnewswire.net