Hole shot King
5 years ago
LCY Chemical Corp, has undertaken an unplanned shutdown at its Methyl isobutyl ketone (MIBK) plant.
A Polymerupdate source in China that, the company has recently halted operations at the plant owing to transportation disruption caused by outbreak of coronavirus in the Wuhan region. The plant is expected to remain off-line till end-February, 2020.
Located in Jiangsu, China, the plant has a production capacity of 40,000 mt/year.
a surfer
6 years ago
Rockefeller Group sells new industrial building to KKR for $43.5M
Jan. 30, 2019 10:15 AM ET|About: KKR (KKR)|By: Pranav Ghumatkar, SA News Editor
Rockefeller Group announced that it has sold a recently completed 406,650-sq.ft industrial distribution building to KKR (KKR) for $43.5M.
Along with the completion of Optimus Logistics Center, Rockefeller Group completed 425,500 sq. ft of distribution space consisting of two buildings at Tri-City Industrial Complex in San Bernardino.
KKR is making the investment through its Real Estate Partners Americas II Fund.
PennyStock Alert
6 years ago
KKR to Invest $1 Billion in Commercial Aircraft -- 2nd Update
Source: Dow Jones News
By Doug Cameron
KKR & Co. intends to invest an initial $1 billion in a commercial aircraft venture as part of a push by the private-equity firm into the fast-growing jet-rental business.
The company is targeting planes being sold by other lessors and said Thursday that it will launch a joint venture by acquiring six widebody cargo jets, a segment attracting growing interest from investors because of the expansion by e-commerce specialists such as Amazon.com Inc.
More than 40% of the global airliner fleet is rented from lessors, which have become a crucial source of finance for carriers that are expected to spend $143 billion on new planes this year, according to Boeing Co.
KKR already has a portfolio of more than 60 single-aisle planes in a partnership with DVB Bank SE, a specialist German transportation financier.
The new venture with Altavair LP, a Seattle-based aircraft lessor and financier that manages more than 200 jets for investors, will become the main vehicle for KKR's expansion.
"Scale is important," said Dan Pietrzak, a KKR member, who said the company plans to be opportunistic in acquiring additional assets, which could also include brand-new planes.
While private-equity firms have been active in aircraft finance for a number of years, most have focused on acquiring leasing companies with a view to initial public offerings or trade sales.
KKR is taking a 50% stake in Altavair, which is run by a number of aircraft-finance veterans.
"We've seen a huge shift away from traditional aircraft-finance sources, " said Altavair Chief Executive Steve Rimmer, with European banks and export credit agencies replaced by U.S. and Asian lenders and bond issues.
Mr. Rimmer said KKR's long-term funding sources could help fill a gap, particularly if there is a shakeout among existing jet lessors or if capital markets cool on the sector.
Renting aircraft has become fiercely competitive, with more than 150 lessors in China alone, many backed by state-owned banks. That has driven down rental rates and pushed up the price of some used planes, especially Boeing 737s and Airbus SE A320s.