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Article Excerpt
M2 PRESSWIRE-18 June 2008-InvestSource Inc.: Eqbal Al Yousuf Purchases $1 Million Stake in ZAP's Battery Business(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:18062008
Stocks in the News: ZAP (OTCBB: ZAAP), Reliance Steel & Aluminum Co. (NYSE: RS), Plains Exploration & Production Company (NYSE: PXP), Canadian Solar Inc. (NASDAQ: CSIQ), Mariner Energy, Inc. (NYSE: ME), and Newfield Exploration Company (NYSE: NFX)
Jun 17, 2008 -- Mr. Eqbal Al Yousuf has purchased a 50 percent interest of the Recharge-It-All Battery line of battery systems for mobile electronics from alternative transportation pioneer ZAP (OTCBB: ZAAP) for US$1 Million ($1,000,000). Mr. Al Yousuf made the $1 million purchase personally following his announcement last week of his intentions. Eqbal Al Yousuf is the President of The Al Yousuf Group and was recently appointed Chairman of ZAP's Board of Directors. According to officials from ZAP and Al Yousuf, samples of ZAP's Recharge-It-All technology have been shipped to Dubai for testing. ZAP's Recharge-It-All is a new rechargeable battery system for mobile electronics that can power or recharge low voltage handheld devices from mobile phones, to smart phones, digital audio players, cameras, PDAs, laptops and more. To order, visit http://www.zapworld.com. The Al Yousuf Group is one of the largest trading groups in The Middle East. Subsidiary Al Yousuf Electronics, established in 1977, operates six sales offices with a staff strength of over 230 employees. In 2005, Al Yousuf Electronics opened the largest-ever LG Electronics Showroom in Dubai. The subsidiary markets a variety of consumer products, including air conditioners, refrigerators, washing machines, freezers, and water coolers. A Gallup poll of UAE consumers recognized Al Yousuf Electronics as 'No. 1 customer satisfaction and after sales services provider.'
June 17, 2008 -- Reliance Steel & Aluminum Co. (NYSE: RS) announced that it has reached an agreement to acquire the outstanding capital stock of PNA Group Holding Corporation, a national steel service center group owned by Platinum Equity. The transaction is valued at approximately $1.1 billion. PNA's subsidiaries include the operating entities Delta Steel, LP, Feralloy Corporation, Infra-Metals Co., Metals Supply Company, Ltd., Precision Flamecutting and Steel, LP and Sugar Steel Corporation. Through its subsidiaries, PNA processes and distributes primarily carbon steel plate, bar, structural and flat-rolled products. 2007 and first quarter 2008 revenues for PNA were about $1.6 billion and $474 million, respectively. PNA has 23 steel service centers throughout...
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