Northern Power move will cost jobs

first_imgDISTRIBUTED ENERGY COMBINING NORTHERN POWER & PROTON ENERGYTO STRENGTHEN OPERATIONS, REDUCE COSTWALLINGFORD, CT, January 31, 2007 — Distributed Energy Systems Corp. (NASDAQ: DESC), today announced it will combine its two subsidiaries Northern Power Systems and Proton Energy Systems — to reduce cost and strengthen systems sales, engineering, production, service and technology development.The company, which creates and delivers products and solutions for the decentralized energy marketplace, said the reorganization will result in a charge against 2007s first-quarter results of approximately $1.0 million, or $0.03 per share, to account for staff reductions, reflecting the elimination of about 60 jobs, or 20% of the workforce, and related expenses. The reorganization is estimated to result in savings of approximately $4-$5 million, on an annualized basis, beginning in the second quarter of 2007. In addition, the Waitsfield, VT, location will be closed, and its activities moved to the companys 110,000-square-foot Barre, VT facility.During the past year, it became increasingly clear that we would benefit going forward by implementing our strategy now, to become a one-company organization, said Ambrose L. Schwallie, Distributed Energys chief executive officer. We expect these changes to improve sales and marketing effectiveness, reduce costs, enhance efficiencies of our systems engineering, products and service capabilities, and enable more and better cross-fertilization in advanced technology development.This new functional structure, Mr. Schwallie continued, allows us to focus more precisely on the markets, critical business drivers and capabilities that give Distributed Energy the best prospects for the higher-margin revenues we need to foster strong, sustained, profitable growth. Taking this action promptly will, we believe, enable the company to make better progress toward our goal of reaching profitability.Markets and OrganizationDiscussing the reorganization further, the Distributed Energy CEO cited the companys emphasis on power generation and power electronics systems, systems engineering and combined heat-and-power projects, products and services for oil and gas exploration markets, larger-scale wind projects for power generation, and commercial hydrogen, renewable fuels, and waste-to-energy technologies.To implement the reorganization, Mr. Schwallie also announced the appointment of three senior vice presidents to company-wide functional positions, all reporting to him:”Mark Murray now leads the sales and marketing functions for all of Distributed Energy products, systems and services. Mr. Murray most recently headed the companys commercial hydrogen business.”Betsy Anderson assumes responsibility for all of the companys engineering, production, project management and service activities, expanding her prior operating responsibilities beyond energy systems, products and services.”Robert Friedland takes on management duties encompassing all technology innovation, including the hydrogen research and development programs that he previously ran.Under their experienced leadership, Mr. Schwallie said, the company will work to strengthen lines of communication and operating efficiencies within the company, improve our impact in the marketplace, and continue to pursue the ideas and technologies that can enable Distributed Energy to be one of the leaders in alternative and renewable energy solutions.Mr. Schwallie concluded: This new unified focus should begin to be reflected in 2007 operating results. We believe this new, revitalized organization will put Distributed Energy in a stronger position to drive improved operating margins, and better serve markets where our capabilities and business models deliver valuable benefits to customers, now and in the years ahead.About Distributed Energy Systems Corp.Distributed Energy Systems Corp. (NASDAQ: DESC) creates and delivers products and solutions to the emerging decentralized energy marketplace, giving users greater control over their energy cost, quality and reliability. The company delivers a combination of practical, ready-today energy solutions and the solid business platforms for capitalizing on the changing energy landscape. For more information visit http://www.distributed-energy.com(link is external).last_img read more

Live Action Returns on SuperSport

first_imgProfessional rugby returns with two matches from New Zealand’s Aotearoa: Highlanders versus Chiefs on 13 June and Blues versus Hurricanes on 14 June. The matches will be broadcast at 6am today and 4am on Sunday respectively on SuperSport 1.The first PGA Tour event to return to the golf calendar is the Charles Schwab Challenge, with days 2, 3 and 5 live on SuperSport from 12 to 14 June. Broadcast of day 1 begins at 9pm on 12 June on SuperSport 1 and 5, day 3 action begins at 6pm on 13 June on SuperSport 1 and 5, while day 4 action starts at 6pm on 14 June on SuperSport 1.Also, the RBC Heritage tournament from South Carolina begins on 18 June, with live coverage commencing at 8pm on SuperSport 1 and 5.The Ultimate Fighting Championship (UFC) was one of the first sports event to return after the effects of world events. The APEX facility in Las Vegas will host the UFC Fight Night on 14 June. The event will start at 2am live on SuperSport 11.The WWE, which also resumed earlier, will hold another special event tagged: ‘Backlash’, on 15 June. The fights will be broadcast from 12 midnight on SuperSport 1, 4 and 9 to DStv subscribers and SuperSport Select 5 to GOtv subscribers.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram DStv and GOtv subscribers can look forward to the return of live sport this week, including action from the ongoing La Liga, the Charles Schwab Challenge, and RBC Heritage tournament from golf’s PGA Tour, New Zealand’s Aotearoa rugby competition, UFC Fight Night and WWE ‘Backlash’.Football fans will be delighted to see La Liga back in full force, with the resumption of the title race between Barcelona and Real Madrid.The pick of games on offer this week is the meeting between Real Madrid and Valencia on 18 June. The match will kick-off at 9pm on SuperSport 7 to DStv subscribers and SuperSport Select 4 to GOtv subscribers.last_img read more

Team of the weekend: Tottenham, Everton and West Ham stars included

first_img 11 11 11 11 11 11 Right-back: Seamus Coleman (Everton) – The Irishman looks to be nearing a return to his best form for the Toffees. Solid defensively and still capable of causing havoc going forward he was a thorn in Chelsea’s side as he helped his side into the FA Cup semi-finals. 11 Centre-back: Craig Cathcart (Watford) – As the Gunners threw everything at the Hornets, Northern Irish star Cathcart stood firmly in their way getting a number of key blocks, tackles and interceptions. Centre midfield: Mousa Dembele (Tottenham) – A vital cog in Spurs’ title bid, the Belgian was superb again as he pulled the strings in midfield. Dembele is tough to get off the ball and as well as barely misplacing a pass he completed all four dribbles he attempted. Centre midfield: Ross Barkley (Everton) – Wasn’t having the best game ever but came alive as the match wore on and was superb on the counter. He got both assists for Romelu Lukaku’s goals and helped stretch Chelsea as they attempted to fight back. Forward: Romelu Lukaku (Everton) – The Belgian bruiser put in a stunning showing against former team Chelsea who must now rue allowing him to leave, even if it was for £28m. His first goal showed his incredible strength and determination before pairing it will brilliant skill and footwork, while his second showcased his instinct in front of goal. 11 Forward: Troy Deeney (Watford) – The Hornets star was brilliant throughout against the Gunners and, had Odion Ighalo’s passing been up to scratch in the first half, could have found himself with at least one goal to his name as well as his two assists. 11 Centre-back: Timm Klose (Norwich) – The Swiss international centre-back, along with partner Ryan Bennett, kept Sergio Aguero and Wilfried Bony shackled as the Canaries claimed a vital point against the Citizens. Forward: Harry Kane (Tottenham) – The England strike has shaken off the one-season wonder tag which was cruelly pinned to him at the start of the campaign when he failed to score in his first eight matches. His double against the Villans now takes him to 19 in the Premier League alone. 11 Left-back: Nathan Ake (Watford) – Chelsea loanee Ake is heading into the FA Cup semi-finals while his parent club bowed out of the competition. The Dutch youngster did well keeping Joel Campbell relatively quiet and his smart throw-in started the move, which got the Hornets their opening goal. Goalkeeper: Brad Guzan (Aston Villa) – Click the right arrow above to see who else made our Team of the Weekend… – OK, in the end he let in two goals, but he was in good form to, firstly, keep Tottenham at bay for 45 minutes. And, secondly, keep the score to just 2-0 as Spurs fired shots on goal. It was another brilliant weekend of thrilling football action, even if our viewing was split between both the Premier League and the FA Cup.There were some superb team performances across the three days but some even better solo ones.In the FA Cup, Crystal Palace, Watford and Everton all advanced, while West Ham and Manchester United face a replay.Meanwhile, in the Premier League, Tottenham, Southampton and Bournemouth earned wins as Manchester City’s title bid took another blow as they drew with Norwich City.But who made out Team of the Weekend? Click the right arrow above to find out… 11 Centre midfield: Dimitri Payet (West Ham) – He wasn’t quite at his usual high standards for the full 90 but scored a stunning free-kick to hand the Hammers the lead. last_img read more