Daily Archives: July 31, 2018

Globecomm growth continues across crucial industry markets for Fiscal 2018

Highlights

  • Total orders valued at over $215 million achieved for FY18
  • Government orders dominated by DoD, also included new contracts from select civil and foreign affairs agencies
  • Award-winning Asset Tracking IoT Platform contributed to growth in the oil and gas segment while 5G preparation enhanced cellular backhaul services demand within telecom

HAUPPAUGE, N.Y., July 31, 2018 (GLOBE NEWSWIRE) — Globecomm, a leading global service provider of multi-network communication solutions, today announced orders valued at over $215 million for its fiscal year 2018, which ended June 30, 2018. Orders from new customers as well as renewals and expansions contributed to robust growth across the company’s government, telecom, enterprise, oil and gas, and media markets.

Globecomm’s new projects for the U.S. government include fixed and transportable satellite communication (SATCOM) terminals as well as VSAT broadcast and wireless services. Securing these projects reinforces Globecomm’s leadership as a one-stop shop for designing, integrating, and delivering network connectivity.

As the industry prepares for the rollout of 5G, Globecomm has experienced an increased demand for its cellular backhaul services. The company’s award-winning Internet of Things (“IoT”) Platform for asset tracking solutions has also gained traction within the maritime and oil and gas markets. The company recently sold 10,000 tracking devices in the energy market and expects large multiples in the future where opportunities exist for hundreds of thousands of assets that need tracking. Furthermore, thanks to its continued focus on customer satisfaction, the company has received significant contract extensions and add-ons in managed services across government, enterprise, media, and maritime markets.

“Globecomm’s vision has always been driven by relationships, understanding our customers’ needs and delivering customer-centric, innovative global communication solutions,” said Chief Executive Officer Jason Juranek. “By combining adaptive, industry-leading expertise and a ‘get-it-done’ attitude to deliver exceptional value, we continuously find ways to exceed our customers’ expectations while guiding them through their business and connectivity requirements with ingenuity and passion.”

About Globecomm

Globecomm is a trusted global connectivity partner for designing, managing and distributing voice, video and data solutions the most remote locations on Earth — under the most treacherous conditions. The company’s multi-network satellite, fiber and cellular infrastructure is the backbone of mission-critical RF and IP communications for government, maritime, media, enterprise and oil & gas markets in over 100 countries. In addition to operating managed network and hosted switch services, Globecomm designs and integrates complete enterprise communications and data management systems including Internet of Things applications and on-premise and cloud-based enterprise video platforms. We proudly serve U.S. government and NGOs around the world with Morale, Welfare and Recreation (MWR) services, and assist with enterprise and government disaster relief efforts.

Headquartered in Hauppauge, NY, Globecomm has locations in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Germany, Singapore, Hong Kong, the United Arab Emirates, Indonesia and Afghanistan. www.globecomm.com

Contact Information:
Peggy Stalhut; peggy.stalhut@globecomm.com

WillScot Announces Closing of Common Stock Offering

BALTIMORE, July 30, 2018 (GLOBE NEWSWIRE) — WillScot Corporation (Nasdaq: WSC) (“WillScot”), a specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced the closing of its previously announced underwritten public offering (the “Offering”) of 8,000,000 shares of its Class A common stock, par value $0.0001 (“Common Stock”) at a price to the public of $16.00 per share. In connection with the Offering, WillScot has granted the underwriters an option for 30 days to purchase up to an additional 1,200,000 shares of its Common Stock sold at the public offering price, less the underwriting discount.

The gross proceeds of the Offering are approximately $128.0 million. WillScot intends to use the net proceeds to fund, in part, the purchase price of its pending acquisition (the “ModSpace Acquisition”) of Modular Space Corporation (d/b/a “ModSpace”). WillScot expects to fund the balance of the purchase price and pay related fees and expenses with the net proceeds from debt financing. If, for any reason, the ModSpace Acquisition does not close, WillScot intends to use the net proceeds from the Offering for general corporate purposes.

Barclays, Deutsche Bank Securities, Morgan Stanley, BofA Merrill Lynch, Credit Suisse and ING were the joint book-running managers for the Offering. The Offering was made pursuant to an effective shelf registration statement, as amended, including a base prospectus, that was filed with the Securities and Exchange Commission (the “SEC”) and declared effective on April 3, 2018 and is available on the SEC website. A prospectus supplement and the accompanying base prospectus related to the Offering have been filed with the SEC on July 27, 2018 and are available on the SEC website. Copies of these documents may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: (888) 603-5847 or email: Barclaysprospectus@broadridge.com), Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005 (telephone (800) 503-4611 or email: prospectus.cpdg@db.com), Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, and BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 (email: dg.prospectus_requests@baml.com).

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the shares of Common Stock or any other securities of WillScot, nor shall there be any sale of the shares of Common Stock or any other securities of WillScot in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although WillScot believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to timely satisfy or waive the conditions that must be timely satisfied or waived to close the ModSpace Acquisition; our ability to integrate assets and operations that we have acquired recently, or that we will acquire in the ModSpace Acquisition; our ability to manage growth and execute our business plan; our ability to realize synergies identified in the ModSpace Acquisition, or to realize such synergies as quickly as expected; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; our ability to raise the capital required to finance the ModSpace Acquisition, including the additional debt financing; rising costs adversely affecting our profitability; potential litigation involving our company; general economic and market conditions impacting demand for our products and services; implementation of tax reform; our ability to implement and maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ending December 31, 2017). Any forward-looking statement speaks only at the date which it is made, and WillScot disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About WillScot Corporation

Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” WillScot is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. WillScot is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its branch network includes over 100 locations, its fleet comprises nearly 100,000 modular space and portable storage units, and its customer base has grown to approximately 35,000.

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

President calls for immediate implementation of mandatory use of biodiesel

Bogor, W. Java (ANTARA News) – President Joko Widodo here, Tuesday, sought immediate implementation of the mandatory use of biodiesel, as it has the potential to save millions of dollars in foreign exchange for the state.

“I have called for the immediate implementation of the mandatory use of biodiesel,” Joko Widodo (Jokowi) remarked during a closed-door meeting at the Bogor Presidential Palace.

The meeting has discussed a strategy on the policy to strengthen the countrys foreign exchange in a bid to improve economic resilience amid the current global economic uncertainty.

The president has emphasized two key issues — control on imports and development of exports — that will need immediate implementation of the mandatory use of biodiesel.

“I will update the information on this since according to data, it (mandatory biodiesel) could save Indonesia some US$21 million per day in imports,” the head of state remarked.

Jokowi has also called to conduct a detailed evaluation on imports, including details of non-strategic goods imports that could be reduced or stopped.

“Another important issue is increasing the domestic content. Issues have been discussed since the past 1.5 to two years but yet to be fully implemented,” he remarked.

The president has encouraged the growth of import substitution in the goods industry, especially the upstream industry that will produce raw materials.

Source: ANTARA News

TNI, Polri ready to secure Asian Games

Jakarta (ANTARA News) – Pangdam Jaya Military Commander Major General Joni Supriyanto confirmed that Military and Police officers are ready to maintain security in Jakarta during the Asian Games to be held from August 18 to September 2, 2018.

“All elements involved in security activities have been ready to accomplish their task to maintain security during the Asian Games,” Supriyanto remarked at the Metro Jaya Police Headquarters here on Tuesday.

The Pangdam Jaya Military commander and Metro Jaya Police Chief Inspector General Idham Azis led a show of force of Among Raga Operation for ensuring security during the Asian Games.

Supriyanto stated that the TNI Commander, Chief of Police, and Chairman of the Indonesian National Asian Games Organizing Committee (INASGOC) have held coordination meetings and provided directions for successfully hosting the Asian Games.

He revealed that the TNI, Police, and INASGOC, as the organizers of the Asian Games, have been making preparations for the international sporting event since some time ago.

The security officials will safeguard the contingent of athletes and officials from other countries in Jakarta for offering maximum security and comfort while competing.

Meanwhile, INASGOC Deputy Chairman Syafrie Syamsuddin noted that the show of force by the Military and Police is the starting point of the security simulation activities in the Asian Games match venues.

Syamsuddin insists security is an important part of support during the international sporting event of the Asian Games.

“The principle used in security to support the Asian Games is comfort and vigilance,” Syamsuddin added.

Source: ANTARA News