During Tuesday’s trade, Shares of Ford Motor Co. (NYSE:F), gained 0.98% to $14.46.
Ford Motor Company recently is announcing a series of changes in its senior leadership team as it continues to deliver the company’s One Ford plan for profitable growth.
John Fleming, executive vice president, Manufacturing and Labor Affairs, has elected to retire after more than 48 years at Ford. Throughout his career at Ford, Fleming, 64, has served in several leadership positions in the U.S. and Europe.
He most recently has led Ford’s Manufacturing and Labor Affairs operations, responsible for overseeing the global operations of 66 assembly, stamping and powertrain plants in addition to the UAW-Ford labor negotiations and contract ratification. Before being named to his current position in August 2010, he served dual roles as Chairman and CEO of Ford of Europe and executive vice president, Manufacturing and Labor Affairs.
“John’s extensive global knowledge and strong leadership have played important roles in our European operations and product quality gains in our manufacturing throughout the world,” said Mark Fields, Ford president and CEO. “During his career, John also was instrumental in leading our team and negotiating labor agreements with our union partners that have enabled us to deliver strong business results and innovative new products for our customers.”
Ford Motor Company manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories.
Shares of Ball Corporation (NYSE:BLL), declined -0.55% to $69.04, during its current trading session.
Ball Corporation, declared recently that it has commenced an underwritten public offering of about €1.5 billion in aggregate principal amount of U.S. dollar-denominated Senior Notes due 2020 and euro-denominated Senior Notes due 2020 and 2023. The exact terms and timing of the offering will depend upon market conditions and other factors.
Ball intends to use the net proceeds from the offering, together with borrowings under its credit facilities and cash on hand, to fund the cash portion of the purchase price payable in connection with the consummation of Balls acquisition of Rexam PLC. Ball continues to work with regulators to obtain the regulatory clearances required to close the acquisition, and at the present time, the aggregate global divestitures under negotiation have estimated aggregate annual revenue in the range of $2.5 billion, using 2014 foreign currency translation rates and 2014 aluminum input prices. The negotiations with the regulators are ongoing and are not finalized, and there can be no assurance that Ball will reach satisfactory resolution with the regulators or that the amount of required divestitures will not change. In addition, Ball believes that after the consummation of the acquisition of Rexam PLC, it will be able to achieve net annual cost synergies in excess of $300 million in the third financial year of operations of the combined company.
Ball Corporation, together with its auxiliaries, supplies metal packaging products to the beverage, food, personal care, and household products industries worldwide. It operates in four segments: Metal Beverage Packaging, Americas and Asia; Metal Beverage Packaging, Europe; Metal Food and Household Products Packaging; and Aerospace and Technologies.
Finally, Shares of Avalon Rare Metals Inc. (NYSEMKT:AVL), lost -3.11%, and is now trading at $0.0871.
Avalon Rare Metals, is happy to provide an update on progress at its East Kemptville Tin-Indium Project, Nova Scotia, Canada, and declare the release of its fourth annual comprehensive Sustainability Report entitled Balancing Opportunities (the 2015 Sustainability Report) together with the release of its 2015 annual filings.
Update on East Kemptville Tin-Indium Project
The Company is ongoing to work towards concluding a Preliminary Economic Analysis (PEA) on the East Kemptville Project. While the Company had originally targeted having a PEA accomplished by the end of November, that timeline has proven to be unrealistic. The Company now plans to have a PEA accomplished in early calendar 2016 which will allow for the 2015 drilling data to be compiled and integrated into an updated resource estimate. It will also allow more time for completion of ongoing metallurgical testwork and finalization of the transfer of surface tenure at the site to Avalon.
The 2015 drilling program was accomplished on November 19, 2015, at a total of 4,514 metres in twenty two holes. Initial results from this drill program were released on November 3, 2015. Assays are now pending for the remaining drill holes which tested the Duck Pond Zone and the Main Zone extension. The PEA will now incorporate all the new data generated from the 2015 work program counting the results of preliminary environmental assessment work.
Before finalizing the PEA, the Company plans to evaluate a number of alternative development scenarios for the scale of the operation. One interesting possibility to be considered is to initiate production at a relatively small scale by utilizing the existing ore stockpiles on the site, before eventually re-starting mining operations at a larger scale. This scenario has the attraction of potentially realizing production and cash flow in the relative short term with a small initial capital investment in a mill and gravity circuit to produce tin concentrate. A detailed cost-benefit analysis of this scenario is presently being undertaken by the Companys technical team.
Avalon Rare Metals Inc. explores and develops rare metals and minerals primarily in Canada. The company focuses on exploring rare earth elements, and other rare metals and minerals, counting lithium, tantalum, niobium, cesium, indium, gallium, yttrium, and zirconium, in addition to tin.