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Follow on Google News | CVC, PROT, CBT, COG, CRWEWallstreet.com Stock Report! October 6th 2010PROT announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
By: Hanson Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. (See, 17 August 2010 Press Release) Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2. During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days. The company, which focuses on stem cell therapies for diabetes and cardiac injury, is planning to lead the research community into the future with the introduction of a new platform for growing contaminant- More about PROT at: www.proteonomix.com Cablevision Systems Corporation , through its subsidiaries, operates as a telecommunications, media, and entertainment company. Its cable television operations serve approximately 5 million households and businesses in the New York metropolitan area. The company provides telephone services and high-speed Internet access services, including iO TV digital television, Optimum Voice digital voice, Optimum Online high-speed Internet, and Optimum WiFi wireless Internet, as well as Optimum Lightpath integrated business communications solutions. Its media and programming properties include News 12 Networks, a local news; MSG Varsity, a suite of television and online services covering high school sports and activities; Newsday and Newsday.com, a daily newspaper; amNewYork, a free daily serving New York City; and Star Community Publishing, a weekly shopper publications. The company also produces content for multiple media platforms; and owns and operates various entertainment brands, including programming networks, such as AMC, IFC, Sundance Channel, WE tv, and Wedding Central, as well as operates IFC Entertainment business engaging in the film distribution and video-on-demand exhibition under the IFC in Theaters, IFC Festival Direct, and Sundance Selects names. In addition, it owns and operates Clearview Cinemas, which includes Ziegfeld Theatre, a venue for film premieres and events. The company was founded in 1973 and is headquartered in Bethpage, New York. Cabot Corporation and China National Bluestar (Group) Corporation today broke ground on the expansion of their world-class fumed silica manufacturing facility in Jiangxi Province, China. The $43 million investment is a project of Cabot Bluestar Chemical (Jiangxi) Co. Ltd., a joint venture between subsidiaries of Cabot Corporation and China National Bluestar (Group) Corporation. The expansion will leverage Cabot's highly advanced manufacturing technology and position the Jiangxi site with the potential to produce up to 20,000 metric tons of fumed silica annually. In the first phase of this expansion, capacity will increase from 5,000 metric tons to 15,000 metric tons with commissioning expected in the second half of calendar year 2011. Cabot Oil & Gas Corporation yesterday announced a second successful Eagle Ford well, a new milestone for its Marcellus program, along with the expansion and extension of its Revolving Credit facility. The Company recently completed and started producing its second Eagle Ford Oil Shale well – the Arminius Energy Trust #1 well. This Frio County, Texas well was drilled with a horizontal length of 5,840' and completed with a 20-stage frac. The result was a 24-hour production rate of 759 barrels of oil per day and 1.0 Mmcf per day. "This is more than double the rate we saw on our initial discovery," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "We have already drilled our third and fourth wells with completions on those scheduled for October and early November." Cabot's net acreage in the play is 53,000, all in the oil window. Sign Up For Free Stock Alerts At http://crwewallstreet.com/ ************************************************************ THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. 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