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BORCO restructuring creates redundancies

23.05.12

Published On: Tuesday, December 06, 2011

By DENISE MAYCOCK

Tribune Freeport Anchorman

dmaycock@tribunemedia.net

FREEPORT - The Bahamas Oil Refining Company International (BORCO) yesterday said a restructuring had resulted in the ceasing of an undisclosed number of Bahamians at the oil storage facility on West Sunrise Highway.

In a journos statement released to the media, BORCO announced that to meet the needs of the changing trade in it has reorganised its structure, affecting various positions and employees at each level of the organisation.

Strive officials in Freeport were not aware of the terminations, and it is not known how many Bahamians were affected. BORCO said the afflicted employees received retirement and severance packages in accordance with the labour laws of the Bahamas and crowd policy.

"We continue to create opportunities for highly skilled, talented, proficient, hard working Bahamians. We remain committed to positive growth and incident of the company and our employees," BORCO said.

"We are investing more than ever in our history in our employee advance through our newly-established technical training programmes, team development training, fellow service training, leadership training, etc."

According to the statement, some 340 Bahamians are currently employed by construction and upkeep contractors on various projects at BORCO, in addition to the 174 Bahamians employed in the ending's operations.

The company also said it anticipates hiring additional staff during 2012 for predestined technical and operational positions.

"Additionally, we intend to continue our focused sponsorship of the BORCO Underlying for the education and skills development of other Bahamians," it added.

BORCO noted that some of the first graduates of the welding schedule are employed with Bahamian companies that have been contracted to undertake its expansion programme.

BORCO said it remains committed to the cay's economic development in line with previous announcements. The company is well underway with its augmentation project, with the first phase targeted for completion in the second half of 2012.

The first phase in the nearest-term expansion will add 3.5 million barrels of storage capacity, while the next phase would add an additional 4.4 million barrels, brining the additions to a unalloyed 7.9 million barrels.

"We believe our employees are our most important asset. We again prerequisite to take this opportunity to thank all our former teammates for their immeasurable contributions, and wish them every success in their future endeavours," the corporation said.

BORCO is strategically positioned to act as a hub in facilitating international logistics and business for bulk-build, break-bulk and blending operations.

In early November it commenced operations at the newly-constructed inland drug, and can handle a range of vessels from small barges up to Panamax size tankers.

The medic is capable of loading and off-loading fuel oil and clean petroleum products, and is fully connected to the incurable tank farm and to the offshore jetties.

Source: Bahamas Tribune

Shares with Minimal Closing Values than their Commencing Quotes - TNS, TREX ...

23.05.12

TNS, Inc. (NYSE: TNS) soared 0.87%, to almost at $19.61 and its overall traded volume was 48,502.00 shares during the last session the forebear had average daily volume of 112,216.00 shares. TNS opened the day at $19.73, it made an intraday low of $19.37 and an intraday elevated of $20.09. The 52-week range of the stock is $13.43-$21.31. The market capitalization of the South African private limited company stands at $500.73M and it has 25.53M outstanding shares.

TNS, Inc. (TNS) is an international data communications troop, which provides networking, managed connectivity, data communications and value added services to telecommunication firms, retailers, banks, payment processors and monetary institutions. TNS provides services to customers in the United States and international customers in over 40 countries, including Canada and Mexico and countries in Europe, Latin America and the Asia-Pacific part. The Company provides services through its data network, which is designed for data-oriented applications and incorporates multi-compact label switching (MPLS), based topology. It operates in three business divisions: Telecommunication Services Separating (TSD), Payments Division and Financial Services Division (FSD). It also provides roaming and clearing services to both major-domo and international mobile operators. In October 1, 2010, it acquired Cequint, Inc. Trex Friends, Inc. (NYSE: TREX) surged 0.90%, to close at $22.42 and its overall traded size was 68,479.00 shares during the last session the stock had average daily volume of 224,043.00 shares. TREX shares were trading within the vary of $22.34-$22.83 while its opening price was $22.57. The stock has a 52-week run of $14.53-$34.00. TREX’s market capitalization is $349.64M and it has 15.59M leftover shares. Trex Company, Inc. manufactures and distributes wood/plastic composite products on the whole for residential and commercial decking and railing applications. The Company is a of wood-substitute decking, railing, fencing and trim products, which are marketed under the brand name Trex. The the greater part of its products are manufactured in a process that combines waste wood fibers and reclaimed polyethylene (PE papers). It offers a set of product offerings in the decking, railing, fencing and trim categories. Its decking, railing, fencing and well-groomed products are provided in a selection of sizes and lengths and are available with several finishes and/or numerous colors. The Ensemble also offers Trex Hideaway, which is a hidden fastening system for specially grooved boards. Its two railing products are Trex Conniver Series Railing and Trex Transcend Railing. In May 2011, the Company acquired Iron Deck Corporation. Trinity Industries, Inc. (NYSE: TRN) surged 0.42%, to put up the shutters seal at $28.70 and its overall traded volume was 517,417.00 shares during the last session against its mediocre volume of 966,778.00. TRN opened the day at $29.01, it made an intraday low of $28.62 and an intraday heinous of $29.51. The stock has a 52-week range of $19.10-$38.15. The market capitalization of the partnership stands at $2.30B and it has 80.13M outstanding shares. Trinity Industries, Inc. (Trinity) is a multi-effort company that owns a variety of businesses, which provide products and services to the industrial, animation, transportation, and construction sectors. The Company manufactures and sells railcars and railcar parts in extension to leasing railcars to its customers through its integrated business model, which includes a caged leasing business, Trinity Industries Leasing Company (TILC). Trinity also manufactures and sells inland barges, structural ruffle towers, concrete and aggregates, highway products, tank containers, and a multiplicity of steel parts and components. The Company serves its customers through five business groups: Fence by train Group, Railcar Leasing and Management Services Group, Construction Products Party, Inland Barge Group, and Energy Equipment Group. TRW Automotive Holdings Corp. (NYSE: TRW) went up 0.52%, to confidential at $32.91 and its overall traded volume was 1.77M shares during the last session against its normal volume of 1.82M. TRW opened at $33.17 and is trading within the range of $32.58-$33.36. The parentage has a 52-week range of $29.68-$63.26. At current market price, the trade in capitalization of the company stands at $4.07B and it has 123.74M outstanding shares. TRW Automotive Holdings Corp. (TRW Automotive) is a diversified supplier of automotive systems, modules and components to automotive original appurtenances manufacturers (OEMs) and related aftermarkets. It conducts substantially all of its operations through subsidiaries. These operations encompass the block out, manufacture and sale of active and passive safety related products. Agile safety related products refer to vehicle dynamic controls (fundamentally braking and steering), and passive safety related products principally refer to denizen restraints (primarily airbags and seat belts) and safety electronics (electronic manage units and crash and occupant weight sensors). The Company operates in four segments: Chassis Systems, Roomer Safety Systems, Electronics and Automotive Components. During year ended December 31, 2010, take 85% of its end-customer sales were made to OEMs. Tesoro Corporation (NYSE: TSO) moved up 1.07%, to establish discontinue at $24.50 and its overall traded volume was 4.29M shares during the last session against its customary volume of 5.22M. TSO opened at $24.72 and is trading within the range of $24.46-$25.13. The reserve has a 52-week range of $16.41-$29.61. At current market price, the furnish capitalization of the company stands at $3.42B and it has 139.41M outstanding shares. Tesoro Corporation (Tesoro) is an individualistic petroleum refiners and marketers in the United States. The Company’s subsidiaries, operating through two enterprise segments: manufacture and sell transportation fuels. Its refining operating segment (refining), which operates seven refineries in the western Merged States, refines crude oil and other feedstocks into transportation fuels, such as gasoline, gasoline blendstocks, jet incite and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas, petroleum coke and asphalt. This operating divide sells refined products in wholesale and bulk markets to a range of customers within the operations square footage. Its retail operating segment (retail) sells transportation fuels and convenience products in 15 states through a network of 880 retail stations, under the Tesoro, Exterior, USA Gasoline and Mirastar brands.

Source: Retirement Planning