Liz Claiborne, Inc. engages in the design and marketing of a range of apparel and accessories. It offers men’s, women’s, and children’s contemporary apparel, denim and casual sportswear, fashion apparel, career and casual sportswear, intimate apparel, activewear, footwear, and jeanswear. The company also provides various wholesale non-apparel products, including accessories, jewelry, and handbags. It offers its products to department store chains and specialty retail store customers under the JUICY COUTURE, KATE SPADE, LUCKY BRAND, and MEXX; AXCESS, CLAIBORNE, CONCEPTS BY CLAIBORNE, LIZ & CO, LIZ CLAIBORNE, CLAIBORNE, LIZ CLAIBORNE NEW YORK, MARVELLA, MONET, TRIFARI, DANA BUCHMAN, MAC & JAC, KENSIE, DKNY ACTIVE, and DKNY JEANS brand names.
Liz Claiborne, Inc. (NYSE:LIZ) announced that it has agreed to sell its global Mexx business to a joint venture in exchange for 18.75% of the common equity of the joint venture and total cash consideration of $85 million, subject to working capital closing adjustments, which includes $60 million of ABL facility debt that is expected to be assumed by the joint venture and refinanced at closing. The Gores Group will own an 81.25% majority interest in the joint venture and has also committed to supporting the business through its ongoing turnaround. The global Mexx business will continue to be led by Thomas Grote as Chief Executive Officer, while Lloyd Perlmutter will continue as Chief Executive Officer of Mexx Canada. The transaction is expected to close in the fourth quarter.
William L. McComb, Chief Executive Officer of Liz Claiborne, Inc., said: “We’ve brought the Mexx European business to the early stages of a true turnaround. But there is more to be done, and in uncertain times and true market volatility, de-risking became essential. This transaction balances risk mitigation, debt reduction, and ongoing upside realization in just the right mix for our shareholders. The forecasted 2011 Adjusted EBITDA loss of approximately ($25) million associated with the global Mexx business will be eliminated. The Gores Group is an ideal partner for the Mexx business given its extensive experience in successful corporate carve-outs and growing presence in the apparel retail sector. With 2010 revenues of over $730 million, we believe the Mexx business will ultimately thrive under Thomas Grote’s continued leadership as a private enterprise after the completion of this transaction.”
Mr. McComb concluded: “We’ve made a lot of important changes in the past few years, primarily transitioning Liz Claiborne, Inc. to be a more brand-centric and retail-based company, and every decision we make is driven by how to do so as effectively, efficiently and dynamically as possible. At the close of this transaction, we will be a more capital efficient, growth-oriented company and will be able to fully turn our attention to building and growing our core portfolio of global lifestyle brands.”
Video marketing is not really a new hot topic but it is a topic of importance to help you grow your business. Online video marketing has now been around for a number of years and it is an area that is still continuing to grow as time moves on. Technologies that allow businesses to apply videos to their business model are also growing, making it even more important to get involved in some way for any business.
Crown Equity Holdings Inc. (OTC:CRWE) offers marketing video production services. Its creative team works together to develop the finest in marketing video production services for each of their clients. Its staff will learn every aspect of business or product, formulate a message, and then create a video production concept to get it out into the world.
Crown Equity Holdings Inc., together with its digital network, currently provides electronic media services specializing in online publishing, which brings together targeted audiences and advertisers. Crown Equity Holdings Inc. offers internet media-driven advertising services, which covers and connects a range of marketing specialties, as well as search engine optimization for clients interested in online media awareness.
Crown Equity Holdings Inc. is pleased to announce that it has entered into a joint venture to deploy VoIP (Voice over Internet Protocol) technology delivering voice, video and data services to residential and commercial customers. The joint venture company is Crown Tele Services Inc. which was a wholly-owned subsidiary of Crown Equity Holdings Inc. Crown Equity Holdings Inc. will own fifty percent (50%) interest in the joint venture.
Commenting on the joint venture, Kenneth Bosket, President of Crown Equity Holdings Inc., said: �We are excited to deliver VoIP communications solutions specifically designed to meet the business and residential market needs in this fast-growing global market.�.
For more information visit: http://www.crownequityholdings.com/
MEMSIC, Inc. (Nasdaq:MEMS), a leading MEMS sensing solution provider, announced that Chairman, President and CEO Dr. Yang Zhao will present at the Rodman & Renshaw Annual Global Investment Conference that will take place in New York City on September 12 - 13, 2011. MEMSIC’s presentation is scheduled for Tuesday, September 13 at 2:50 PM ET in the Morgan Suite of the Waldorf-Astoria. MEMSIC will also meet one-on-one with institutional investors on September 13, 2011. To obtain additional information about MEMSIC’s participation in the conference, please contact the conference organizers or LHA.
MEMSIC, Inc., headquartered in Andover, Massachusetts, provides advanced semiconductor sensors and multi-sensor system solutions based on micro-electromechanical systems (MEMS) technology and sophisticated integration technologies in both the IC level and module level. MEMSIC’s unique and proprietary approach combines leading-edge sensor technologies, such as magnetic sensors and accelerometers, with mixed signal processing circuitry to produce reliable, high quality, cost-effective solutions for the mobile phone, automotive, consumer, industrial, and general aviation markets.
Xata Corporation (Nasdaq:XATA), a leader in fleet optimization software, announced the availability of its new RouteTracker2 electronic onboard recorder (EOBR) for Xata Turnpike, which has been highlighted by the Federal Motor Carrier Safety Administration (FMCSA) as the most cost-effective DOT-compliant solution for electronic driver logs.
Xata Corporation provides intuitive, automated fleet management software solutions to the trucking industry. By delivering real-time critical information on vehicle and driver performance, Xata makes it easy for fleet managers, dispatchers and drivers to collect, sort, view and analyze data to help reduce costs, increase safety and compliance, and improve customer satisfaction.
POZEN Inc. (NASDAQ:POZN), a pharmaceutical company committed to transforming medicine that transforms lives, announced that Elizabeth Cermak, the Company�s Executive Vice President and Chief Commercial Officer, will present at the 2011 Stifel Nicolaus Healthcare Conference on Wednesday, September 7, 2011 at 1:30 p.m. (ET), at the Four Seasons Hotel in Boston. Ms. Cermak�s presentation will be webcast and available for replay on POZEN�s home page at www.pozen.com.
POZEN Inc. is a progressive pharmaceutical company that is transforming how the healthcare industry addresses unmet medical needs. By utilizing a unique in-source model and focusing on integrated therapies, POZEN has successfully developed and obtained FDA approval of two self-invented products in two years � something almost no other small pharmaceutical company has done.
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