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DB Cargo UK secures new 5-year contract with Drax

International Forest Industries - 1 hour 12 min ago

One of the U.K.’s largest rail freight operators, DB Cargo U.K. will operate an average of 60 trains per week from the ports of Immingham and Hull to Drax Power Station in Selby, Yorkshire.

Each train will carry around 1,650 metric tons of sustainable biomass to Drax Power Station, which provides flexible and reliable renewable power for millions of UK homes and businesses.

Drax supplies 12 percent of the U.K.’s renewable electricity. Using sustainable biomass instead of coal at Drax Power Station has reduced emissions by more than 80 percent and helped the U.K. power system decarbonize faster than any other country.

Roger Neary, head of Sales at DB Cargo U.K., said, “We are delighted that Drax has chosen to extend our existing contract with them for another five years. We are proud of the important role our people continue to play in delivering an efficient and sustainable source of renewable energy for use here in the U.K.”

Mike Maudsley, U.K. portfolio generation director at Drax, said, “These rail deliveries are a critical part of our global supply chain for sustainable biomass that supports thousands of jobs and has delivered economic growth across the north of England, while supplying renewable electricity to millions of homes and businesses.

“We’re very pleased to extend our existing contract with DB Cargo U.K. for another five years and look forward to continuing to work with the team.”

Left: Mike Maudsley, U.K. portfolio generation director at Drax


About Drax
Drax Group’s purpose is to enable a zero carbon, lower cost energy future and in 2019 announced a world-leading ambition to be carbon negative by 2030.

Its 2,900-strong employees operate across three principal areas of activity – electricity generation, electricity sales to business customers and compressed wood pellet production.

Power generation:
Drax owns and operates a portfolio of flexible, low carbon and renewable electricity generation assets across Britain. The assets include the UK’s largest power station, based at Selby, North Yorkshire, which supplies five percent of the country’s electricity needs.

Having converted two thirds of Drax Power Station to use sustainable biomass instead of coal it has become the UK’s biggest renewable power generator and the largest decarbonisation project in Europe.

Its pumped storage, hydro and energy from waste assets in Scotland include Cruachan Power Station – a flexible pumped storage facility within the hollowed-out mountain Ben Cruachan.  It also owns and operates four gas power stations in England.

Through its two B2B energy supply brands, Haven Power and Opus Energy, Drax supplies energy to 250,000 businesses across England, Scotland and Wales.

Pellet production:
Drax owns and operates three pellet mills in the US South which manufacture compressed wood pellets (biomass) produced from sustainably managed working forests. These pellet mills supply around 20% of the biomass used by Drax Power Station in North Yorkshire to generate flexible, renewable power for the UK’s homes and businesses.


The post DB Cargo UK secures new 5-year contract with Drax appeared first on International Forest Industries.

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Forest Products IIII - Mon, 03/08/2020 - 23:18

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Forest Products IIII - Mon, 03/08/2020 - 22:42

In this time of pandemic, stock markets have mostly been – rising. Yes, we had a crash in February/March, part of that initial ‘panic mode’ when Federal, state, and local governments shut down economic activity and ordered social lockdown policies, but that turned around at the end of March. We’ve had a bullish rally since then. The S&P 500 stands just above 3,200, only 4.5% below its all-time peak.With this in mind, Canaccord's Chief US Strategist Tony Dwyer looked at some historical data, and found that when over 90% of the S&P 500 components trade above their 50-day moving averages for at least ten straight days, the market usually moves sideways for multiple weeks, with the trend sometimes persisting for up to three months.“Ultimately, such consolidation periods following these breadth-thrust ramps studied take place early in a new bull market and are resolved to the upside. 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Throughout the pandemic, management has been continuing discussions with M&A targets.“The pipeline has actually grown during this time given that more GI's had free time due to reduced volume and were available to discuss M&A opportunities. We believe this could bode well for an acceleration of deals in 2021,” Close noted.Speaking to these efforts, three purchases were made by the company during COVID. Along with the acquisition of a 75% stake in Lake Lanier Anesthesia Associates, which could see annualized revenue of $2.7 million, and its start-up joint venture with a 51% ownership in Oconee River Anesthesia Associates, CRHM revealed it had snapped up a 75% stake in Metro Orlando Anesthesia Associates, a company that provides services to one ASC in Orlando. Metro Orlando Anesthesia is set to generate $1.9 million in annualized revenue.Weighing in on these buys, Close commented, “We did not expect the company to resume acquisitions so quickly, having already completed three transactions in June. We are encouraged by the company's quick rebound and now have a positive outlook for our 2020E forecasts considering we had no acquisitions forecasted in our model for the rest of 2020.”Reflecting another positive, the company is pursuing contracted status for those payer relationships that are currently non-contracted, and even though the crisis delayed these discussions, CRHM remains committed to pushing for on-contract rates. “Getting through this process will remove an overhang on the stock that has created variability in results over the last several years,” Close stated.In line with his optimistic take, Close rates CRHM a Buy along with a $3.50 price target. A twelve-month gain of 52% could be in store, should the analyst’s thesis play out in the year ahead. (To watch Close’s track record, click here) Similarly, the rest of the Street is getting onboard. 4 Buy ratings and 1 Hold assigned in the last three months add up to a Strong Buy analyst consensus. In addition, the $3.37 average price target puts the potential gain at 46%. (See CRHM stock analysis on TipRanks)Amryt Pharma (AMYT)Boasting a market cap of $364.9 million, Amryt Pharma develops therapies that could potentially improve the lives of patients with rare, debilitating conditions. With operational tailwinds set to propel it forward, it’s no wonder Canaccord gave it a thumbs up.5-star analyst Michelle Gilson points to AMYT’s expanding base business as being a key component of her bullish thesis. She highlights that lomitapide, which is approved in the U.S. and EU for homozygous familial hypercholesterolemia (HoFH), drove revenues of $45 million in Q1 2020 and metreleptinm, its asset for generalized lipodystrophy (GL) and partial lipodystrophy (PL), generated $157 million in 2019. It should also be noted that AMYT achieved adjusted EBITDA profitability and cash flow positivity in Q1, demonstrating the build-out of a more efficient infrastructure following the acquisition of Aegerion has been effective, in the analyst’s opinion.“With a strengthened B/S to support the new business model (reduced debt burden, increased cash with equity raise), the Amryt team has been able to focus on and invest in the EU launch of metreleptin and re-establishment of medical affairs to reduce unnecessary discontinuations, which should support continued organic growth,” Gilson explained.In addition, the company has placed a significant focus on expanding the labels for these two drugs. Gilson told clients, “Studies are underway/planned for metreleptin in PL (U.S.), lomitapide in familial chylomicronemia syndrome (FCS), and lomitapide in pediatric HoFH... If successful, these indications could double the market opportunity in the US for metreleptin and WW for lomitapide.”When it comes to Filsuvez (AP101), its topical therapeutic designed for use in epidermolysis bullosa (EB), Gilson also sees a major opportunity. Filsuvez has already shown that it can speed up healing times in partial thickness wounds, so the analyst has high hopes ahead of the Phase 3 data readout, which is slated for late Q3 or early Q4. As such, this event could be an important near-term catalyst. If that wasn’t enough, the company’s pipeline includes a polymer-based, topical gene therapy platform, with the lead candidate, AP103, for dystrophic EB expected to enter clinical development in 2H21. Based on all of the above, Gilson rates AMYT a Buy rating, along with a $40 price target. This figure implies shares could soar 269% in the next year. (To watch Gilson’s track record, click here)AMYT has stayed relatively under-the-radar, with its Moderate Buy consensus rating breaking down into 2 Buys and no Holds or Sells. At $42.50, the average price target indicates upside potential in the shape of a whopping 287%. (See AMYT stock analysis on TipRanks)To find good ideas for small-cap stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.


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by Dr. Radut