Red Lion Hotels Corporation (NYSE:RLH) announced that it closed the previously announced sale of the Red Lion Hotel on Fifth Avenue in Seattle, WA. The property was purchased for $71 million or approximately $239,000 a key, by an affiliate of Lowe Enterprises Investors (LEI). At closing, LEI entered into a franchise agreement with Red Lion Hotels Franchising, Inc. to continue to operate the property as a Red Lion hotel, managed by LEI affiliate, Destination Hotels & Resorts. The company also entered into an affiliation agreement with a subsidiary of Destination Hotels & Resorts to facilitate the cross-promotion of hotels between the companies.
Red Lion Hotels Corporation, a hospitality and leisure company engages in the ownership, operation, and franchising of midscale, full, select and limited service hotels under the Red Lion brand.
VIASPACE Inc. (VSPC)
VIASPACE is a clean energy company providing products and technology for renewable and alternative energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. Through its majority-owned subsidiary VIASPACE Green Energy Inc., the Company grows Giant King Grass as a low-carbon fuel for electricity generating power plants, as a feedstock for bio methane production and cellulosic biofuels such as ethanol and butanol, and for biochemicals and bioplastics.
VIASPACE Inc. and its renewable energy subsidiary VIASPACE Green Energy Inc. announced that their Green Log™ brand fireplace and campfire logs were exhibited at the National Hardware Show held in Las Vegas, Nevada from May 10-12, 2011. The National Hardware Show is an annual gathering of buyers and sellers in specialties such as hardware tools, lawn and garden, and outdoor living. The trade show was an ideal venue for the Company's Green Log to be presented. Many of the major players in the fire log industry also exhibited at the show.
Chief Executive Carl Kukkonen stated, "The Green Log is a product that we have spent a lot of time and effort in developing. We believe the Green Log is the most eco-friendly fire log product on the market, and at the trade show, we were able to educate people about the many benefits of the Green Log."
Mr. Sung Chang, President of VIASPACE Green Energy added, "The National Hardware Show allowed us to get the Green Log name out there. Many prospective customers were at the trade show along with our competitors in the fire log industry. From what was seen at the trade show, our competitors have already identified VIASPACE as a viable contender in the fire log industry. Potential buyers of the Green Log have expressed interest in our product and we are following up with them."
The Green Log is VIASPACE's first commercial product made with Giant King Grass. The fire log is a renewable and sustainable product as opposed to other artificial fire logs that are made with petroleum-based materials and trees that take decades to fully grow. The product takes just 3 minutes to fully light, and it burns for up to 5 hours.
Renewable energy Using energy from sources which cannot be used up - sun, wind, water and waves - supports sustainable development by reducing carbon emissions. This contributes to increasing energy and climate security for many communities across the world. Renewable energy comes from sources which cannot be used up, such as wind, sun, water and waves, rather than from fossil.
For more information, please visit: www.viaspace.com.
Cleantech Transit Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project can generate shareholder returns as well benefit the Company's manufacturing clients worldwide.
Cleantech Transit Inc. is pleased to provide further details on finalizing the 500 KW project. Cleantech expects to finalize its initial interest in the project around July 15th and is in talks to further increase its interest in the 500 KW project in Merced County. In addition, the Company hopes to negotiate definitive terms for the previously announced larger projects. In particular Cleantech is interested in the larger 1 MW biomass gasification facilities and will provide additional details as the Company has confirmed terms on the larger projects.
Organic waste in the form of dead trees, leaves, grass clippings, animal carcasses and byproducts from food processing exists in abundance and can be used to produce biomass energy. This means that a large amount of solid waste that is currently just dumped into landfills can be used as a source of energy. Waste products generated by human activity, such as paper and household garbage can be collected and used as biomass to generate energy. This could have the effect of reducing the amount of waste generated and sent to landfills or placed on barges and sent out to sea by millions of tons a year.
Please visit Cleantech Transit, Inc. website www.cleantechtransitinc.com.
Louisiana-Pacific Corporation (LP) (NYSE:LPX) announced its subsidiary, LP South America (LPSA), acquired the remaining 25 percent equity interest in LP-Brasil OSB Industria e Comercio S.A. (LP Brasil) from Masisa do Brasil LTDA (Masisa-Brasil), a subsidiary of Masisa S.A. in Chile. LP Brasil operates the oriented strand board (OSB) plant located in Ponta Grossa, Parana, Brazil. In 2008, LPSA entered into a joint venture agreement with Masisa-Brasil in which LPSA bought 75 percent of the plant and related assets. The purchase agreement included a put/call option for the remaining Masisa ownership. On May 12, 2011, Masisa exercised its option to sell its ownership.
Louisiana-Pacific Corporation, together with its subsidiaries, engages in manufacturing and distributing building products for new home construction, repair and remodeling, manufactured housing, and light industrial and commercial construction.
ACCO Brands Corporation (NYSE:ABD) announced that it has sold its GBC - Fordigraph Pty Ltd subsidiary, based in Sydney, Australia, to The Neopost Group, based in Paris, France. GBC - Fordigraph has been the exclusive distributor of Neopost products in Australia for almost twenty years. Neopost intends to retain the existing management staff and employees of GBC - Fordigraph and will be the exclusive direct sales channel distributor for select GBCÂ® print finishing products in Australia. GBC - Fordigraph employs approximately 175 people.
ACCO Brands Corporation designs, develops, manufactures, and markets traditional and computer-related office products and supplies principally in North America, Europe, and Australia.
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