Metalloinvest to sell rail business to Globaltrans

first_imgRUSSIA: An agreement for private rail freight company Globaltrans to buy the Metalloinvesttrans rail activities of iron ore producer Metalloinvest for US$540m was announced on April 27. The transaction will be financed from Globaltrans’ own funds and credit facilities, and subject to regulatory approvals is expected to close at the end of May.MIT handled 44·2 million tonnes in 2011, primarily metallurgical traffic, with adjusted revenue of US$344m and EBITDA of US$140m. As of December 31 2011 it had a fleet of 9 202 wagons, of which it owned 8 256. The acquisition includes an agreement for Globaltrans to handle all Metalloinvest’s rail traffic in the first year, and have first refusal on 60% of its requirements during the following two years. ‘It is increasingly important to have the scale and resources to maximise efficiency and profitability, and be able to meet the needs of large cargo owners’, said Globaltrans CEO Sergey Maltsev. ‘We have made it clear that we are looking to capitalise on market opportunities such as MIT, which is a high-quality business that, combined with the service contract with Metalloinvest, provides a low-risk path to grow our business and consolidate our position in the market.’last_img read more

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Boys HS Hoops: Lake Catholic Pulls Away Late To Secure A Win Against NDCL, 78-49

first_img Michael Trivisonno is a current college student at Cleveland State University who covers high school sports throughout Northeast Ohio for NEO Sports Insiders. He’s also been the Lake County Captains beat writer the previous two seasons. This game recap is brought to you by our fine sponsors at Nurenberg & Paris.  You can visit them here.Homepage Michael Trivisonno Related TopicsLake CatholicNDCL MENTOR, OHIO – Lake Catholic got off to a quick start Friday night against NDCL. A potent fourth quarter would end up being the difference maker in the game as the Cougars would end up defeating the Lions by a final score of 78-49 to improve their record to 12-1.It wasn’t the prettiest of wins, but a win is a win. Coach Matt Moran and the Cougars don’t have much time to rest this weekend as they prepare to face a much improved Gilmour team Sunday during the Dunk 4 Diabetes Showcase at John Carroll University.The win Friday night bears some confidence in Coach Moran’s team as they prepare for an early matchup Sunday morning.“It’s nice that we go get to play,” he said. “We’re excited and I know that they’ll bounce back.”Sophomores Luke Eller and Luke Frazier led the way for the Cougars as they poured in 24 and 23 points against NDCL. The pair of sophomores led Lake Catholic in the fourth quarter to help pull out their 12th with for the season.“It’s pretty tough to stop us when we’re just hitting shots,” said Eller. “I’m just happy we were able to pull away.”“It was a whole team effort,” Frazier said. “Everyone did what they had to do.”A quick 5-0 run from NDCL is what started the game off. Lake Catholic decided to get things under control which would help propel them to go on a quarter ending 20-4 run to lead 20-9 at the end of the first quarter.The lead would remain steady in the second quarter and Lake Catholic would head into halftime with a solid 15 point lead.NDCL would come out of halftime firing on all cylinders. A 10-2 run would cut the deficit to just seven points. The Lions would get within five with just under a minute left in the third quarter. In the final minute, Luke Frazier would sink back-to-back 3-pointers to give Lake Catholic an 11 point lead heading into the final eight minutes.Lake Catholic scored just 10 points in the third quarter. NDCL coach Chris Poulos felt like his team had some confidence going into the final quarter after outscoring them 14-10 coming out after halftime.“We felt great,” he said. “We were pretty confident coming in at halftime that we can play with them. I think we just carried that confidence into the third quarter and then ran out of steam.”Seniors Kameron King and Zach Zienka controlled the NDCL offense against Lake Catholic with each of them scoring 12 points. Brian Carney contributed with seven points rounded out with Eddie Zucker scoring six points.The lead wouldn’t get any closer in the fourth quarter. Lake Catholic dominated from the first whistle in the fourth quarter, eventually outscoring them 30-12 to defeat NDCL by 29 points.“It’s a huge win for us because it was an NCL matchup,” said coach Moran. “It gives us another day to stay in first place.”last_img read more

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GOP Senate to move forward on ‘Obamacare’ repeal

first_imgWASHINGTON | The Republican-led Senate is poised to take a step forward on dismantling President Barack Obama’s health care law despite anxiety among some GOP senators that they still haven’t come up with an alternative.A procedural budget vote slated for late Wednesday or early Thursday would put the process in motion, triggering committee action to write repeal legislation that could come to a vote next month. A full replacement would follow sometime after that, presuming Republicans can come up with one.“We must act quickly to bring relief to the American people,” said Senate Majority Leader Mitch McConnell, R-Ky.President-elect Donald Trump said Wednesday that repealing and replacing the law should happen “essentially simultaneously,” even in the same day, week or hour. That will be almost impossible to achieve due to complex Senate rules, united Democratic opposition and substantive policy disagreements among Republicans.The 2010 law extended health insurance to some 20 million Americans, prevented insurers from denying coverage for pre-existing conditions and steered millions of dollars to states for the Medicaid health program for the poor.The Senate procedural vote will set up special budget rules that will allow the repeal vote to take place with a simple majority in the 100-member Senate, instead of the 60 votes required to move most legislation.That means Republicans, who control 52 seats, can push through repeal legislation without Democratic cooperation. They’re also discussing whether there are some elements of a replacement bill that could get through at the same time with a simple majority. But for most elements of a new health care law, Republicans are likely to need 60 votes and Democratic support, and at this point the two parties aren’t even talking.Increasing numbers of Republicans have expressed anxiety over obliterating the law without a replacement to show voters.“We should start immediately to repeal, reform and replace Obamacare, and it shouldn’t be finally repealed until we have a replacement ready,” Senate Health Committee Chairman Lamar Alexander, R-Tenn., whose panel will be at the center of this year’s battle, said in a brief interview.Sen. Rand Paul, R-Ky., who wants repeal and replace together, said the president-elect telephoned him Friday to voice support for that timing.“He’s aware of my arguments for doing replacement at the same time, and he agreed,” Paul said.last_img read more

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