Forterra Announces Organizational Realignment of Water Pipe & Products Segment
IRVING, Texas, July 24, 2018 (GLOBE NEWSWIRE) -- Forterra, Inc. ("Forterra" or the "Company") (NASDAQ:FRTA), a leading manufacturer of water and drainage pipe and products in the United States and Eastern Canada, today announced an organizational realignment of its Water Pipe & Products ("Water") segment. Rich Hunter, Chief Operating Officer, will direct the operations team and Vik Bhatia, Executive Vice President, will lead the commercial team. In their new capacities, Rich and Vik will continue to report to Jeff Bradley, Chief Executive Officer, and will succeed Bill Kerfin, previously the President of the Water segment, who has left the Company.
This organizational realignment is expected to accelerate the execution of the Company's commercial and operational initiatives focused on driving higher margins. Rich, a seasoned operational leader, has been integrally involved with the operations team to reduce cost and improve productivity. Vik brings significant experience driving successful commercial and customer service efforts and has been working closely with the sales team on their commercial approach.
Forterra CEO Jeff Bradley commented, "Rich and Vik's expertise, skill and leadership demonstrate the bench of talent at Forterra. They are the right leaders to drive improvement in this business which is supported by strong end-market demand."
The Company reaffirms its financial outlook for the second quarter of 2018, before adjustments for the financial statement impacts of the recently announced sale-leaseback amendment. Forterra provided guidance for the second quarter of 2018 in its first quarter earnings release on May 8, 2018 and subsequently announced on June 11, 2018 the anticipated impact of the sale-leaseback amendment on adjusted EBITDA and taxes.
Forterra is a leading manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage and stormwater systems. Based in Irving, Texas, Forterra's product breadth and significant scale help make it a one-stop shop for water related pipe and products, and a preferred supplier to a wide variety of customers, including contractors, distributors and municipalities. For more information on Forterra, visit http://forterrabp.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
Company Contact Information:
David J. Lawrence
Vice President of Treasury and Investor Relations
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Forterra, Inc. via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
SoftServe’s Research Team Takes Prize at Samsung AI Challenge16.10.2018 21:16 | Pressemelding
Artificial intelligence leveraged to deblur and dehaze photos and videos with exceptional quality AUSTIN, Texas, Oct. 16, 2018 (GLOBE NEWSWIRE) -- SoftServe, a leading digital authority and consulting company, announced its researchers won second place at the Samsung AI Challenge 2018 with innovative neural image restoration enhancement for mobile and embedded devices. “Artificial intelligence is at the center of future-proofing technologies for many businesses today,” said Serge Haziyev, senior vice president for Advanced Technology at SoftServe. “The opportunities for AI are endless and we are proud of our team and their commitment to creating an innovative AI algorithm that pushed the boundaries of existing deblurring and dehazing technologies as part of Samsung’s AI Hackathon.” The winning team, made up of SoftServe research engineers, Volodymyr Budzan and Orest Kupyn, participated in the worldwide event developing a solution that uses state-of-the-art deep learning and computer vi
IRYStec Selected as CIX Top 20 Innovator for 2018!16.10.2018 17:52 | Pressemelding
MONTREAL, Oct. 16, 2018 (GLOBE NEWSWIRE) -- IRYStec Software Inc., today announced it was selected as one of the CIX Top 20 most innovative companies of 2018 in Canada. Chosen from hundreds of profiles by industry experts and investors, the winner will represent Canada at the Start-up World Cup Grand Finale In 2019! The CIX Top 20 program is Canada’s largest national showcase of the 20 hottest and most innovative tech companies. Hundreds of applications are submitted each year from across Canada and the CIX Selection Committee evaluates and selects 20 based on 5 criteria: Business Model, Quality of Product and Service Offering, Innovation, Market Opportunity and Depth of Management. CTO and Co-founder, Tara Akhavan, will be presenting at CIX 2018 on Oct 23 at 1 PM. Both Tara and Simon Morris, CEO, will be attending both days demonstrating why all displays in the near future will be perceptual displays driven by IRYStec’s Perceptual Display Platform technology. A crowd of over 800 inves
Strategic Tax Leaders are Preparing Now for Tax Reform 2.016.10.2018 15:15 | Pressemelding
ATLANTA, Oct. 16, 2018 (GLOBE NEWSWIRE) -- This year organizations adjusted their tax approach due to the passing of the Tax Cuts and Jobs Act. Strategic tax teams are continuing to prepare for another round of amendments with the potential for Tax Reform 2.0. “Change is inevitable, so organizations can’t get complacent with their tax strategy,” said Nick Alexander, Senior Product Manager at PowerPlan. “Tax teams should maximize their use of technology to help them stay ahead of future modifications of tax code to minimize disruption to their financials, processes and compliance.” PowerPlan has published a new article, Get Ready: Reform Isn’t Over, which further covers the potential impacts of Tax Reform 2.0 and shares how tax teams can prepare. To access the article, please visit: http://bit.ly/2NE8ZDO. About PowerPlan PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve o
€1.6bn investment project kickstarts Lithium Werks’ battery gigafactories vision16.10.2018 14:38 | Pressemelding
THE HAGUE, Netherlands, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Dutch energy storage and battery company Lithium Werks B.V. (www.lithiumwerks.com) and Chinese Zhejiang Jiashan Economic and Technological Development Zone Industry Corporation have signed a framework agreement with the intention to construct a 60 hectares battery gigafactory in the Yangtze river Delta. Total investments required are estimated at €1.6 billion. The Lithium Werks factory and related facilities will produce battery cells for lithium-ion batteries, enabling the energy transition from fossil fuels to clean energy in order to reduce CO2 emissions. Lithium Werks expects to have installed production capacity of 500 GWh per annum by 2030 as it continues to contribute to the shift to a carbon neutral world. “With our Chinese partners’ help, and as we continue to grow both organically and through acquisitions, we will deliver the energy storage solutions that our customers increasingly ask for as the world transitions to c
Global Beverage and Food Launches With Stevia Are Up Sharply In 201816.10.2018 14:00 | Pressemelding
New Products Launched Globally with Stevia Post a +27% Increase in the First Half of 2018 vs the Same Period in 2017 CHICAGO, Oct. 16, 2018 (GLOBE NEWSWIRE) -- PureCircle (LSE: PURE), the world's leading producer and innovator of great-tasting stevia sweeteners, reports launches of new food and beverage products containing stevia leaf sweeteners increased significantly in the first six months of 2018 vs the comparable period in 2017. The data used in this release was provided by Mintel Global New Products Database (GNPD)*. Specifically, new product launches with stevia rose +27% globally. About one-third of foods and beverages launched using high-intensity sweeteners** contained stevia this year, nearly double the rate when compared to the first six months in 2012. Looking at results separately for global beverages and foods, launches of beverage products containing stevia grew 33% in the first half of 2018. Launches of food products with stevia grew 23%. As evidenced by this growth da
Checkpoint Therapeutics Appoints Christian Béchon to its Board of Directors16.10.2018 14:00 | Pressemelding
NEW YORK, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Checkpoint Therapeutics, Inc. (“Checkpoint”) (NASDAQ: CKPT), a clinical-stage immuno-oncology biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for patients with solid tumor cancers, today announced that it has appointed Christian Béchon to its Board of Directors. James F. Oliviero, President and Chief Executive Officer of Checkpoint, said, “I am very pleased to welcome Christian to Checkpoint’s Board of Directors. His experience as Chairman and CEO of LFB S.A., a major European biopharmaceutical company with global operations, will make him a valuable addition to our Board. We look forward to leveraging Christian’s expertise as we continue to advance toward pivotal Phase 3 clinical trials next year.” Mr. Béchon brings more than two decades of business experience to Checkpoint. He is currently Chairman and Chief Executive Officer of ChB Consultants, a privately held life science consul
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom