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Clean Diesel Technologies (Nasdaq: CDTI) $7.48, Up $3.58. Today announced that its Heavy Duty Diesel Systems division has received nearly $2.0 million in orders for its verified (approved) emission reduction products. Clean Diesel's receipt of these orders, which represent approximately 200 emission reduction systems, follows the announcement on April 6, 2011 by the State of California's Air Resources Board (CARB) of a special compliance option for California on-road diesel fleets pertaining to the current "Truck and Bus Regulation." CARB offered an early action compliance credit for trucking fleets that install a diesel particulate filter by July 1, 2011 or that made a commitment to purchase a diesel particulate filter by May 1, 2011. The early action "buy-one-get-one-free" credit applies to heavier trucks and there is no limit on how many trucks in the fleet can earn the early adoption credit.
Charles Call, Chief Executive Officer of Clean Diesel Technologies, Inc., said, "The orders that we have been anticipating to meet California's aggressive on-road diesel emissions standards have started to flow. This first wave is preliminary but it is the signal we have been waiting for. Ultimately, we believe that well over 100,000 trucks will have to comply with the regulations, largely between 2012 and 2014. This is excellent news and comes as a result of CARB's leadership and commitment; California continues to meet its air quality obligations by providing businesses with a variety of options to reduce soot from diesel engines. Our customers' need for economical solutions that satisfy environmental regulations has been at the heart of our technology strategy. The CARB incentive program clearly demonstrates that this technology can be good for business and the environment.
What They Do: Clean Diesel is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets.
Syms Corp. (Nasdaq: SYMS) $9.80, Up $2.35. Today announced that its Board of Directors has initiated a process to explore and evaluate various potential strategic alternatives, which may include a possible sale of the Company. The Company has retained Rothschild Inc. as its exclusive financial advisor to assist the Company in connection with the strategic review process.
There is no defined timeline for this strategic review and there can be no assurance that the review of strategic alternatives will result in any specific action or transaction. Syms does not intend to comment further regarding the evaluation of strategic alternatives, unless a specific transaction is approved or review process is concluded, or it otherwise deems further disclosure is appropriate or required by law.
What They Do: Syms Corp operates a chain of off-price apparel retail stores under the Syms and Filenes Basement names in the United States.
Emergent BioSolutions (NYSE: EBS) $25.52, Up $4.08. Today announced that the U.S. government has indicated its intention to award Emergent a sole source contract (RFP-2011-N-13414) for the purchase of 44.75 million doses of BioThrax (Anthrax Vaccine Adsorbed) for inclusion in the Strategic National Stockpile (SNS) over a 5 year period. BioThrax is the only vaccine licensed by the U.S. Food and Drug Administration (FDA) to protect against anthrax infection. Emergent anticipates finalizing a contract with the U.S. government during the third quarter of 2011.
“Emergent is pleased to be in active discussions with the U.S. government for a multi-year supply of BioThrax to the SNS,” said Fuad El-Hibri, chairman and chief executive officer of Emergent BioSolutions. “We remain dedicated to serve as a reliable and long-standing supplier of medical countermeasures that support the U.S. government’s continued commitment to anthrax preparedness.”
What They Do: Emergent BioSolutions protects and enhances life by developing and manufacturing vaccines and therapeutics that are supplied to healthcare providers and purchasers for use in preventing and treating disease.
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