hoya corporation ( hoya株式会社 hoya kabushiki-gaisha ) is a japanese company manufacturing optical products such as photomasks , photomask blanks and glass magnetic-memory disks , contact lenses and eyeglass lenses using wavefront technology for the health-care market , medical photonics , lasers , photographic filters , and software .

hoya corporation is one of the forbes global 2000 leading companies and industry week 1000 company .

hoya acquired the camera company pentax in 2007 , for the price of us$ 1 billion , about 10 % more than pentax was valued at the time .

in june 2010 the grandson of the corporation 's founder yutaka yamanaka proposed changes to the board of directors to prevent what he called such " mistakes " from happening again .

on october 1 , 2011 , hoya sold its pentax camera business to ricoh .

hoya corporation

( pdf ) . hoya corporation & pentax corporation . 2007 - 10 - 29
c - pus and speech synthesis business transferred from hoya service to hoya corporation .
hoya established hoya holdings n . v . of the netherlands and hoya corporation usa to reinforce global management .
after the management integration , the new company will be named hoya pentax hd corporation .
the company was renamed hoya corporation , and the new head office building is completed .
hoya corporation ( hoya㈱ ) [ 1 ] is a japanese company , mainly known as a producer of filters .
hoya discussed a merger with pentax into hoya pentax hd corporation during 2007 . the merger was initially intended to be completed by
* [ urltoken hoya corporation ] * [ urltoken thk photo products , inc . ] the u . s . importer of hoya filters .
the hoya corporation is in the process of acquiring the pentax corporation . [ 4 ] the merger is expected to be culminated on october 1 , 2007 . the new business will be named hoya pentax hd corporation . fumio urano , the current head of pentax , will become chairman of the board and hiroshi suzuki , the current head of hoya , will become president & ceo .
— cette page d’homonymie répertorie les différents sujets et articles partageant un même nom . hoya peut faire référence à : hoya corporation , un groupe international , hoya , un genre de plante ( ne pas confondre avec oyat ) , hoya , une ville d… …
the hoya group shall secure systems relating to the hoya business conduct guidelines that need to be observed by directors and employees of the hoya group .
hoya establishes hoya holdings asia pacific pte ltd , as the third regional area hq after hoya holdings n . v . and hoya holdings , inc . , the area hqs for europe and north america , respectively .
hoya acquired 30 % of the shares of seiko optical products co . ltd . , a wholly owned subsidiary of seiko holdings corporation responsible for the sales of the eyeglass - related products .
“our acquisition of performance optics continues hoya’s strategic initiatives in the life care segment , ” said augustine yee , chief legal officer and global head of corporate development and affairs at hoya corporation . “performance optics enables hoya to become a more broad - based leader in vision care , our largest division . ”
[ tokyo december 21 , 2006 ] hoya corporation ( “hoya” ) and pentax corporation ( “pentax” ) announced today that they have reached a basic understanding aimed at a management integration of the two companies , expected to be completed on october 1 , 2007 . the new company’s name will be hoya pentax hd corporation . under a corporate center with strategic planning functions , the new company will realign the business areas of hoya and pentax . hoya and pentax have recognized that they are the best possible business partners to establish a solid business structure that draws on their respective strengths . through this management integration , the planned new structure will allow the new company to swiftly allocate significant management resources to develop strategic business areas , aiming at accelerating future growth .
hoya corporation ( hoya ) today announced the completion of the acquisition of performance optics , llc ( performance optics ) , including its subsidiaries v ision ease and daemyung optical . performance optics is a global ophthalmic lens manufacturer specializ ing in polycarbonate , photochromic , polari z ed and high index eyeglass lenses . the acquisition complements the hoya l ife c are portfolio , further expanding both hoya ' s geographic reach and product offering for its hoya vision care division .
in background . currently , the mitsui main building ( 三井本館 ) , which houses sumitomo mitsui banking corporation , mitsui fudosan , the chuo mitsui trust and banking co . and
oh , you mean the pentax brand name or pentax the corporation which owned the pentax brand before it merged with the hoya corporation who still owns the pentax brand . or do you mean the pentax line of cameras or maybe the pentax line of lenses or the pentax line of scopes or the pentax line of binoculars or the pentax line of medical equipment ? or perhaps pentax medical ( maker of endoscopes ) , the direct corporate descendent of the late pentax corporation who owned the pentax brand which was applied to the pentax line of cameras and the other pentax lines ( see preceding ) ?
hoya made additional investment in innfocus , inc . , a glaucoma device company .
— hoya rechtsform kabushiki gaisha ( aktiengesellschaft ) gründung 1 . november 1941 sitz …
, chief legal officer and global head of corporate development and affairs at hoya corporation .
performance optics will now join hoya vision care in their efforts to promote and support eyecare and industry professionals with high - quality products , service and support . we also look forward to augmenting our global research & development capabilities with the creation of a new technology center of excellence outside of
under the terms of the basic understanding announced today hoya will be the surviving company .
hoya launched intraocular lenses ( iols ) as well as aspherical molded - glass lenses .
as a result of the tender offer , pentax became a consolidated subsidiary of hoya .
hoya , seiko and epson ; agreements executed in the field of optical products business .
hoya launches yuniku , a global first in vision - centric , 3d tailored eyewear .
on october 29 , 2007 , hoya and pentax announced that pentax , as the company ceasing to exist , will merge with and into hoya on march 31 , 2008 .
original name : japanese wikipedia page about hoya , retrieved on march 5 , 2007 .
i have read and accept the hoya ' s official comments policy . ( required )
guerrero : kirstjen nielsen went to georgetown . that doesn ' t make her a hoya
in order to complete the sale , hoya , which merged with pentax in 2008 in a deal valued at $ 770 million , plans to start a new corporation , called newco , that will take on the pentax imaging business . once complete , the company will transfer its ownership in newco to ricoh .
metallic orthopedic implants are used to plate a broken bone . hoya technosurgical manufactures and sells products using titanium of superior strength and biocompatibility . hoya technosurgical encourages early rehabilitation of patients .
tokyo , japan – 12 october 2016 . hoya corporation ( hoya ) today announced a definitive agreement to acquire performance optics , llc ( performance optics ) , including its subsidiaries vision ease and daemyung optical . performance optics is a global ophthalmic lens manufacturer specializing in polycarbonate , photochromic , polarized and high index eyeglass lenses . this acquisition will strengthen hoya’s ability to provide customers with a broader portfolio of leading products , while continuing to provide best - in - class services to the eyewear industry .
hoya formed an alliance with ibm to develop a next - generation glass disk for hdds .
hoya certified as an excellent enterprise of health and productivity management for the second consecutive year .
japanese optical glass giant involved in u . s . nuclear weapons development - nif and hoya
] on october 29 , 2007 , hoya and pentax announced that pentax , as the company ceasing to exist , will merge with and into hoya on march 31 , 2008 . [
into hoya pentax hd corporation during 2007 . hoya ' s primary goal was to strengthen its medical - related business by taking advantage of pentax ' s technologies and expertise in the field of endoscopes , intraocular lenses , surgical loupes , biocompatible ceramics , etc . it was speculated that pentax ' s camera business could be sold off after the merger . the merger was initially intended to be completed by october 1 , 2007 .
demand for minimally invasive treatment is growing . hoya develops medical endoscopes that enable early diagnosis and treatment under the pentax brand . hoya also offers medical devices such as intraocular lenses and orthopedic implants .
eyeglass business expanded its direct presence in brazil by acquiring 100 % shares of optotal hoya limitada .
hoya acquired the majority shares of wassenburg , a leading company in the field of endoscope reprocessing .
on may 25 , the pentax board of directors accepted hoya ' s offer for a merger .
pentax medical and chinese company aohua established flexible medical endoscopy joint venture . hoya acquired readspeaker , the leading cloud - base text to speech company . hoya sergical optics opened iol manufacturing facility in thailand .
hoya completed the acquisition of a 50 % stake in seiko optical products that became a consolidated subsidiary .
hoya makes medical device venture investment in lensgen , inc . , an accommodating intraocular lens developing company .
hoya , a very familiar name in the photographic industry ( not least because they supply lens blanks to many manufacaturers ) and pentax have jointly today announced their intention to merge and become hoya pentax hd corporation ( actually hoya are ' merging ' pentax into their business ) . this merger is due to be completed by october 1 , 2007 . once complete fumio urano ( current pentax president & ceo ) will become chairman of the board and hiroshi suzuki ( current hoya president and ceo ) will become president & ceo . the major conclusions in this announcement are that the pentax name will remain , that pentax ' s optical business will merge with hoya ' s but that pentax ' s current imaging systems division ( that which is responsible for digital cameras ) will continue .
japanese company hoya has agreed to sell its pentax digital camera business to ricoh , the companies announced today .
hoya uses the following measurement and inspection equipment in our qa process according to the requirements of our customers .
] on may 25th , the pentax board of directors accepted hoya ' s offer for a merger . [
the hoya group shall observe across its organization the hoya business conduct guidelines established based on the management policy and management principles of the group , and shall undertake educational activities as required . the hoya group will reinforce the effectiveness of such activities with the hoya help line , an intra - group system for reporting and counseling . the group shall operate this system not only in japan but also overseas to ensure the soundness of group activities .
each shareholder of pentax common stock will be allotted 0 . 158 shares of hoya common stock per pentax share .
hoya launches hoyalux summit pro and nulux lenses that use eyry , a high - index , plastic lens material .
hoya will retain the pentax brand name and reports $ 2 , 927 . 3 ( mil ) in sales .
mckeown , james m . and joan c . mckeown’s price guide to antique and classic cameras , 2001 - 2002 . ( grantsburg , usa : centennial photo service , 2001 ) , 67 - 74 . “timeline , ” ricoh imaging company , ltd . , urltoken “hoya corporation hoya pentax merger agreement , ” bloomberg , urltoken “ricoh buys pentax to build interchangeable lens camera business , ” digital photography review , urltoken “pentax ricoh changes name and reveals branding strategy , ” digital photography review , urltoken “pentax , ” wikipedia , urltoken
started production of optical glass in the city of hoya , tokyo , which is the origin of the company name .
hoya vision care acquired safety prescription eyewear business from 3m . pentax medical acquired c2 therapeutics to expand interventional endoscopy offering .
] hoya will retain the pentax brand name and reports $ 2 , 927 . 3 ( mil ) in sales .
only those countries bold enough to imagine their own solutions will be successful in developing conflict - averse industries . a corporation’s desire for profits and power does not have to be disruptive if developing nations can exploit that desire for control by offering a holy union between industry and company in exchange for ethical and responsible conduct .
hoya provides themed training programs for antitrust laws and others that reflect each division´s business environment to help employees reconfirm and enhance compliance .
on july 1 , 1876 , mitsui bank , japan ' s first private bank , was founded with takashi masuda ( 1848–1938 ) as president . mitsui bank , which following a merger with taiyō - kobe bank in the mid 1980s became part of sakura bank , survives as part of the sumitomo mitsui banking corporation ) .
under article 796 , clause 3 , of the japanese company law , hoya is not required to receive shareholders’ approval for the merger .
:
the name
pentax
was originally a registered trademark of the east german veb zeiss ikon ( from
pentaprism
and
contax
) but , as all germans patents were annulled with the country ' s defeat , the name
pentax
was taken by the asahi optical company in 1957
-
the corporation is best known for its
pentax
brand cameras , starting with the pivotal
asahi pentax
single - lens reflex camera of 1957 , which followed asahi ' s first series of cameras , the asahiflex of 1952 . the success of the pentax series was such that the business eventually renamed itself
pentax corporation
after the product .
hoya discussed a merger with pentax into hoya pentax hd corporation during 2007 . hoya ' s primary goal was to strengthen its medical - related business by taking advantage of pentax ' s technologies and expertise in the field of endoscopes , intraocular lenses , surgical loupes , biocompatible ceramics , etc . it was speculated that pentax ' s camera business could be sold off after the merger . the merger was initially intended to be completed by october 1 , 2007 . [ 10 ] however , pentax management decided to not pursue the originally planned share swap , and other options for a merger were discussed . [ 11 ] on may 25 , the pentax board of directors accepted hoya ' s offer for a merger . [ 12 ] on august 6 , 2007 , hoya completed a friendly takeover bid for pentax and acquired 90 . 59 % of the company . [ 13 ] on october 29 , 2007 , hoya and pentax announced that pentax , as the company ceasing to exist , will merge with and into hoya on march 31 , 2008 . [ 14 ] hoya will retain the pentax brand name and reports $ 2 , 927 . 3 ( mil ) in sales . the acquired pentax surveying instrument business ( currently it asahi co . , ltd . ) and camera business ( now pentax ricoh imaging co . , ltd . ) were sold to taiwan instrument co . , ltd . in 2009 and ricoh co . , ltd . in 2011 , respectively .
according to japanese publication nikkei business daily , ricoh will pay hoya 10 billion yen ( $ 124 million ) to acquire its pentax operation .
in 2003 the hoya group implemented another initiative , the hoya help line , as an internal reporting and consultation system for the group . if there is an act that contravenes the law or the hoya business conduct guidelines , the hoya help line is intended to enable early identification of the problem and quick reporting to top management , while protecting the informer , which enables timely and appropriate action to be taken on the issue . this system helps to preserve the integrity of the hoya group as a whole . the hoya help line has two types of points of contact ; one is “hhl” a dedicated section within the hoya group headquarters and the other is an outside legal counsel . the system is designed to preserve anonymity and works to maintain the system´s functional effectiveness . as of march 2013 , the system is in place at group companies in japan , north america ( the united states and canada ) , thailand , european countries , philippines , singapore , australia , malaysia and korea , and operates in accordance with business practice and laws of each country . we continue to expand the number of countries covered , giving the hoya help line worldwide coverage .
the brothers shoichi and shigeru yamanaka established an optical glass production plant in the city of hoya , tokyo , and production of optical glass began .
corporate announcement
under the terms of the basic understanding announced today hoya will be the surviving company .
dated 2006 - 12 - 21 .
in this section , you will find useful information in order to better understand hoya group including financial statements and other disclosure materials such as annual reports .
founded in 1941 in tokyo , japan , hoya is a global med - tech company , and a leading supplier of innovative high - tech and medical products . hoya is active in the fields of healthcare and information technology providing eyeglasses , medical endoscopes , intraocular lenses , optical lenses as well as key components for semiconductor devices , lcd panels and hdds . with over 150 offices and subsidiaries worldwide , hoya currently employs a multinational workforce of 38 , 000 people .
, hoya is a global technology and med - tech company , and a leading supplier of innovative high - tech and medical products . hoya is active in the fields of healthcare and information technology , providing eyeglasses , medical endoscopes , intraocular lenses , optical lenses , as well as key components for semiconductor devices , lcd panels and hdds . with over 150 offices and subsidiaries worldwide , hoya currently employs a multinational workforce of over 36 , 000 people . for more information , please visit
fumio urano ( current pentax president & ceo ) will become chairman of the board and hiroshi suzuki ( current hoya president and ceo ) will become president & ceo .
and btw , even the k - 3 , i think , was mostly planned while the company was still under hoya . ricoh has not yet shown its cards .
based on these analyses , hoya obtained a fairness opinion from ubs investment bank , and pentax from morgan stanley , regarding the merger ratio from a financial point of view .
founded in 1941 in tokyo , japan , hoya is a global technology and med - tech company , and a leading supplier of innovative high - tech and medical products . hoya is active in the fields of healthcare and information technology , providing eyeglasses , medical endoscopes , intraocular lenses , optical lenses , as well as key components for semiconductor devices , lcd panels and hdds . with over 150 offices and subsidiaries worldwide , hoya currently employs a multinational workforce of over 34 , 000 people . for more information , please visit urltoken .
investors and security holders may obtain additional information and other documents , filed by the company with the tokyo stock exchange , regarding the acquisition for free at hoya’s website at urltoken .
the hoya group distributes hoya business conduct guidelines to the group employees in order for each one of them to be able to apply those principles to the specific situations that arise in day - to - day business . every employee in japan reads through , understands and confirms the willingness to comply with its principles before signing a confirmation letter once a year . overseas group companies use a regional version of the hoya business conduct guidelines translated in local languages and formulated in accordance with national and regional laws and customs as a guide for everyday practice .
for over 60 years , hoya vision care has been a global leader in the eyeglass lens business . with a presence in over 50 countries , hoya vision care has a proven expertise in lens designs and freeform surfacing technology combined with a leading position in high performance , quality ar coating . hoya vision care ' s solid market portfolio includes seiko and pentax optical lenses , as well as innovative products such as yuniku , the world ' s first vision - centric , 3d tailored eyewear . the company employs over 16 , 000 employees worldwide with mass production facilities in
the company was founded on november 1 , 1941 , as a manufacturer of optical glass under the name tōyō kōgaku garasu seizōsho ( 東洋光学硝子製造所 , meaning oriental optical glass manufacturer ) . [ 2 ] it was incorporated as k . k . tōyō kōgaku garasu seizōsho ( ㈱東洋光学硝子製造所 ) in august 1944 and became k . k . hōya kuristaru garasu seizōsho ( ㈱保谷クリスタル硝子製造所 , meaning hoya crystal glass manufacturer ) in august 1947 , then k . k . hōya garasu ( ㈱保谷硝子 ) in 1960 and finally hoya k . k . ( hoya㈱ ) in 1984 . [ 3 ]
“the acquisition of performance optics expands hoya’s customer reach , particularly through vision ease’s presence in the americas and its strengths in polycarbonate products and technologies , ” said girts cimermans , ceo of hoya vision care . “performance optics provides hoya with additional capabilities in polycarbonate , photochromic and polarized lens technologies , as well as an expansion of our global footprint in high index lens casting to reinforce our position as a global technology leader in lens manufacturing . importantly , we also will augment our global research & development capabilities , creating a new technology center of excellence outside of japan . ”
winkalman , although they share a distributor in the us for products aimed at the consumer photography market , none of either the tokina or the hoya corporate literature indicates that tokina is a subsidiary .
we believe that key to earn the trust of stakeholders pertains to not only the hoya group´s observance of laws and regulations but also all group employees´ fair and faithful conduct with high ethical standards . based on this recognition , in 1997 we formulated the hoya business conduct guidelines which clearly indicates the standards of conduct for each and every employee . the hoya business conduct guidelines are consistently revised in order to reflect the formulation , revision and abolition of laws and changes in society . since the guidelines were adopted , we confirm the guidelines in training and workplace activities and utilize it for raising awareness of employees . also , overseas group companies use a regional version of the hoya business conduct guidelines formulated in accordance with national and regional laws and customs in order to strive for enhancement of compliance .
since 1941 , hoya has been a premier provider of optical glasses . over the years , this traditional material business has transformed into a key element in the development of advanced electronics and information technologies .
hoya and pentax will form an integration committee , co - chaired by fumio urano , president & ceo of pentax , and hiroshi suzuki , president and ceo of hoya , to ensure swift and smooth integration of the management and operations of the newly integrated company . the integration committee will review the administrative systems of each company , aiming at creating a best - practice administrative system for the newly integrated company .
many recent pentax lens designs were joint projects with hoya ' s subsidiary tokina . these include the dfa 50mm and 100mm macros , the da 12 - 24mm zoom , the 10 - 17mm fisheye zoom , and the upcoming weather sealed dfa * series of lenses . as a pentax user i ' m excited by the merger . hopefully , hoya / tokina can help pentax fill out their lens lineup more quickly .
for over 60 years , hoya vision care has been a global leader in the eyeglass lens business . with a presence in over 50 countries , hoya vision care has a proven expertise in lens designs and freeform surfacing technology combined with a leading position in high performance , quality ar coating . hoya vision care’s solid market portfolio includes seiko and pentax optical lenses , as well as innovative products such as hoyalux id mystyle v + progressive lenses and yuniku , vision - centric 3d tailored eyewear . the company employs over 16 , 000 employees worldwide with mass production facilities in asia & europe and over 40 local rx laboratories globally .
neither ubs investment bank nor morgan stanley are related parties of hoya and pentax . this ratio is subject to change if there is a material change in the conditions which were used as fundamentals in the calculation .
in july , 1876 , mitsui bank was established as japan’s first private bank , with a starting capital of ¥2 million . sumitomo bank was established in november , 1895 , as a private enterprise . both banks experienced numerous mergers and reorganizations , and were listed on the tokyo and osaka stock exchanges in may , 1949 . in april , 1990 , mitsui bank and taiyo kobe bank merged to form mitsui taiyo kobe bank , renamed sakura bank in 1992 . in april , 2001 , sakura bank and sumitomo bank merged to form sumitomo mitsui banking corporation , with a capital stock of ¥1 , 276 , 7 billion . in december , 2002 sumitomo mitsui banking corporation ( smbc ) established a holding company named sumitomo mitsui financial group , inc . ( smfg ) through a share transfer , and smbc became a wholly - owned subsidiary of smfg . in july , 2008 , sumitomo mitsui bought a 2 . 1 per cent stake in barclays bank for £500m . sumitomo mitsui is the major financial institution of the mitsui group , its activities centering on securities and foreign exchange .
on paper this looks like a great merger , with both savings and synergies waiting to be realized . the online photographer congratulates pentax and hoya and wishes the new company strength , good fortune , and long life .
hoya started as an optical glass manufacturer . since its inception , the company has been diversifying its business by leveraging its optical materials technologies and precision processing technologies . hoya has successfully built global niche market positions through its aggressive technological innovation and has established leadership in its areas of expertise , resulting in strong earnings . in the information technology area , hoya has maintained a leading position globally for its semiconductor - related mask blanks and glass disk substrates for hard disk drives , and it is positioned as one of the leading manufacturers in optical glass and lenses . the company has also established a leading position in the eye care area , including in eyeglass lenses . hoya continues to cultivate new business areas , in particular medical - related areas which are positioned as mid - to long - term core growth drivers , and has initiated global business development of intraocular lenses used for the surgical treatment of cataracts .
the integration will be completed by october of 2007 if all goes well . the current ceo of pentax , mr . fumio urano ( right ) , will become chairman of the board , and the current president and ceo of hoya , mr . hiroshi suzuki , will be president and ceo of the new company , which will be called hoya pentax hd corp . the new company will be organized around
a small headquarters with empowered business divisions .
note : for hoya , the net income per share , dividend per share and shareholders’ equity per share have been revised to reflect a 4 for 1 split of the company’s common stock that took effect from november 15 , 2005 .
in a saga which ( publicly ) began in december last year and has seen pentax fighting hoya ' s approaches on various fronts including the resignation of their president fumio urano last month and talk of selling its headquarters in tokyo looks to be finally coming to an end . according to numerous reports pentax ' s board of directors has today approved the deal and the merger will go ahead next month . additionally pentax ' s board members have agreed to resign after the hoya takeover goes through .
hoya has completed the creation of a system for visualizing the status of internal controls over financial reporting for the group´s key operating divisions . the group has also created a framework for evaluation of these controls . in the fiscal year under review , the group will begin conducting verifications of the effectiveness of internal controls . items that do not conform or for which internal controls are found to be inappropriate or insufficient will be improved , and hoya will continue its efforts to ensure the reliability of financial reporting .
word out of japan today is that pentax will be purchased by hoya in 2007 . ( it ' s being pitched as a
merger ,
although hoya is called in the press release the
merging company
and pentax the
company to be merged ,
which i thought was a nice way of putting it . ) although photographers probably know hoya only from its self - branded lens filters , it ' s one of the largest optical glass manufacturers in the world , supplying the glass blanks that many optical companies make into lenses . it also makes glass substrates for computer hard drives and has significant business in eyeglasses , intraoculars ( replacement lenses surgically implanted in the eye ) , and other related medical technologies . besides cameras , pentax has ventured into medical equipment as well , making endoscopes and bionics among other things . hoya ' s assets are roughly twice those of pentax and it has about two and a half times as many employees . recently , its profits have been significantly more robust .
okay . but the way i understand it , hoya owned pentax but pentax still made its own products . ricoh however i ' ve read is said to be blending design aspects of its line with the pentax line , or is planning to do so .
information technology area : ( major products include : mask blanks , glass disk substrates , etc . ) this is a core earnings driver where hoya has secured a leading market position globally . the integrated company aims to further strengthen competitiveness and growth in this area .
while the market for advanced medical products has been growing globally with further growth expected , competition has also been intensifying . hoya and pentax have been developing advanced medical products including endoscope diagnostics , minimally invasive surgical technologies , and bionic materials including new ceramics and intraocular lenses . in order to continue delivering growth in this market , it is critical that hoya and pentax leverage their respective competitive advantages and make aggressive investments through mergers and acquisitions and research and development , as well as establish global sales and marketing networks at the earliest possible stage .
life care area : ( major products include : endoscopes , medical accessories , new ceramics , and intraocular lenses ) life care is positioned as a strategic growth area . hoya and pentax will pursue business development in the minimally invasive medical area where future demand is expected to grow . the newly integrated company will operate in areas which range from diagnostic to treatment fields , such as minimally invasive diagnosis using endoscopes and treatment using endoscopes and ancillary surgical devices , and will focus on globally cultivating bionic material markets including new ceramics and intraocular lenses . in addition , hoya and pentax will enhance product development capabilities through aggressive research and development and mergers and acquisitions strategies and will strengthen sales and marketing structures in japan and overseas . through these measures , hoya and pentax aim to double the size of their life care business .
in an integration of equals , hoya and pentax aim to enhance customer and shareholder value . the parties aim to achieve this through the establishment of a solid management foundation that will draw on the complementary managerial resources of the two companies to create synergies and accelerate business growth .
optics area : ( major products include : optical glass and lenses , digital camera modules , micro - lenses , etc . ) hoya and pentax will vertically integrate the design , materials , lenses , processing and module groups in the optics area , which is expected to lead to qualitative structural reform and further strengthen competitiveness . hoya and pentax will mutually utilize their respective manufacturing sites and customer bases , in order to secure a competitive edge against newly emerging asian players and strongly position themselves for sustainable growth in the face of structural change in the optics industry .
, performance optics serves the global needs of eyewear customers .
performance optics ' subsidiaries , vision ease and daemyung optical , have capabilities and cultures of innovation , quality and service that strongly complement hoya ' s footprint and long - standing reputation in the eyewear industry ,
said
known to camera enthusiasts for its line of photographic filters , the renowned glass maker also produces glass for semiconductor blanks and hard disk substrates . it produces eyeglass lenses and various medical optics . a subsidiary , hoya crystal , manufactures crystal glass tableware , chandeliers , and designer ash trays .
each division shall carry out its operations according to the annual plan and the quarterly budget adopted at meetings of the board of directors . the hoya group shall ensure the efficiency of group management by evaluating the levels of target achievement every quarter and working to make improvements as the occasion demands
in everything we do , we focus on the needs and challenges of eyecare and industry professionals . we are a true partner , helping them to distinguish themselves from the competition by bringing value to their businesses , instead of acting as their competitor
said girts cimermans , ceo of hoya vision care .
performance optics provides hoya with additional capabilities and offerings in polycarbonate , photochromic and polarized lens technologies , and expands our global footprint in high index lens casting . this strengthens our position as a global technology leader and offers more eyecare and industry professionals the sales and marketing support they want and need .
ricoh ' s decision to acquire hoya is a rather surprising move on the company ' s part , since it ' s best known for its line of copiers and other office equipment . however , the company has offered cameras in the past , and delivered its first digital camera to the market in 1995 .
the integrated firm will be managed through a committee system under japanese company law to ensure strong corporate governance . the board will consist of 10 directors , five of whom will be non - executive directors , further reinforcing management transparency . three of the executive directors will be appointed from hoya and the others from pentax .
hoya and pentax intend to continue discussions to conclude a definitive agreement on the management integration in early april 2007 . the expected schedule is outlined below . however , as discussions proceed , if exceptional circumstances arise , the two companies may decide to change the schedule or the method of integration in their effort to achieve management integration .
( 3 ) system for ensuring reliability of financial reporting the hoya group shall establish and manage a system of internal controls for financial reporting and build a system for evaluating its financial reporting to ensure the reliability of its financial reporting and valid , appropriate submission of internal control reports as prescribed in the financial instruments and exchange act .
new areas , other areas : ( major products include : business systems equipment , survey equipment , etc . ) hoya and pentax seek to invest aggressively in areas where they see future earnings growth opportunities . at the same time , they will focus on selected business areas to improve efficiency and to achieve optimal usage of managerial resources .
through the strategic acquisition of majority shares of wassenburg , hoya now offers high - end automated endoscope reprocessors ( aers ) . as the number of endoscopy procedures increases and the importance of endoscope reprocessing grows driven by the rising hygienic awareness around washing and disinfection of flexible endoscopes , demand for a cutting - edge and advanced product solution is increasing .
to take off from your thought , johnl , branding seems so integral to the history of consumer cameras , which often eclipsed or subsumed the identities of their corporate creators . the leica brand became far more famous than leitz ;
downmarket
imitator international radio corporation abandoned its radios and its name in favor of its wildly successful argus cameras , seiki kohgaku kenkyuujo became canon , nikon eclipsed mitsubishi . . . in the slr era , asahi launched pentax , takachiho seisakusho took the name of its olympus cameras , as did chiyoko with its minolta . . . cameras just seem to capture people ' s imaginations like few other products ( ok , that pun was unintentional ) . a corporate takeover is a drastically different way to begin , but i ' ll be interested to see if an old story unfolds from this . regardless , i respect both companies and wish them success .
the newly integrated company will continue the listing status of hoya on the first section of the tokyo stock exchange . information regarding the new company headquarters , total assets , paid - in capital , the number of shares newly issued upon the merger , and treatment of warrants and convertible bonds issued by pentax , will be provided when such matters are determined .
hoya has no branding in consumer cameras , a hot high margin segment right now . . . since they already produce the glass , this is a good fit for them . pentax is now positioned very well to lower costs and be a strong 3rd player in the dslr race . and they get to stay japanese without having to be merged into the korean giant samsung , which was their other alternative . faced with rising production costs , pentax very smartly negotiated sensors from samsung and glass from hoya . they provide the branding between two giants in the industry who know that brands still add significant value to a dslr . i think pentax will be around for a while yet , this seems like a smart move .
based on the recognition that hoya and pentax are the best possible business partners to establish a solid business structure that draws on their respective strengths , the two companies have reached a basic understanding aimed at management integration . through this management integration , the planned new structure will allow the integrated company to swiftly allocate significant management resources to develop strategic business areas , aiming at future growth .
the structure of the integrated firm will be based on the concept of a small headquarters with empowered business divisions . allowing for an appropriate transition period , the new company is expected to have a corporate center with strategic planning functions and the business divisions outlined below . moreover , the newly integrated company will continue to make the best possible use of the respective brands of both hoya and pentax .
to enlighten and enhance compliance , we continue to publish posters and leaflet as well as to disseminate the information for the hoya group . to raise awareness , we introduce self - check test and faq as well as internal cases in the group intranet and on the bulletin boards . we also display posters and distribute leaflet in our workplaces for better understanding and reconfirmation of the importance of compliance .
apatite products are used mainly in the fields of orthopedics , brain surgery and dentistry as prosthetic fillers for bone defects . apaceram , one of hoya technosurgical ' s apatite products , is made of hydroxyapatite , a chemical compound virtually the same as the constituents of human bone . hydroxyapatite implantation is safe , and over time , the implant is partially resorbed and replaced by natural bone , as it becomes part of the body .
an intraocular lens ( iol ) is an artificial crystalline lens used in an eye after a clouding crystalline lens has been removed during cataract surgery . it is an innovative medical device that enables people who once suffered from cataracts to see normally again . hoya surgical optics manufactures and sells lens injection systems that facilitate surgery , along with soft , foldable iols that can be inserted through extremely small incisions ( 1 . 8mm incisions ) .
to achieve the best results from internal control systems , it is essential that all employees performing duties for an organization work to foster greater awareness . the hoya group has established a set of business conduct guidelines that clarify the guiding principles under which each employee should perform his or her duties , with resolute adherence to professional ethics . the group also conducts a wide range of employee education activities to foster awareness of regulations and rules .
in order to achieve fairness , the parties received advice from third party advisers in respect of the determination of the merger ratio . hoya was advised by ubs securities japan ltd . ( “ubs investment bank” ) , and pentax was advised by morgan stanley japan securities co . , ltd . , ( “morgan stanley” ) for the basis of the merger ratio calculation . both companies have discussed the results presented by the financial advisors , and settled at the ratio announced today .
the common core technological platform for hoya and pentax is grounded in optics , imaging and materials . using this core platform , the two companies aim to optimize their business portfolios , focusing on the life care , optics , information technology , eye care and imaging systems areas . expected stable revenue from the information technology and eye care areas will support the life care area to achieve strategic growth . in addition , vertical integration of the optics areas will lead to qualitative structural reform and further strengthen competitiveness .
performance optics is a global eyeglass lens manufacturing company employing over 2 , 000 people around the world . with manufacturing facilities in the united states , korea , china , thailand and indonesia , performance optics serves the worldwide needs of eyewear customers . “performance optics’ subsidiaries , vision ease and daemyung optical , have capabilities and cultures of innovation , quality and service that strongly complement hoya’s footprint and long - standing reputation in the eyewear industry , ” said john weber , ceo of performance optics . “by joining forces , we will better meet our customers’ global needs across geographies . ”
in addition to striving to further strengthen corporate governance , the hoya group also works toward the development of sound internal control systems with the objective of ensuring appropriate and efficient business management . each business division and facility develops and improves the control environment , evaluates and responds to risk , and verifies and improves the control processes to ensure that the control systems that operate within each division and facility are the most appropriate for their operating environment . the head of each business division has managerial authority and is responsible for improving the business results . each head is also obligated to seek to further improve internal control systems , with the objectives of maintaining compliance , effectiveness and efficiency of work practices , the reliability of financial reporting and the integrity of management assets . the audit department at hoya group headquarters is responsible for the regular auditing and verification of administrative processes for each division and business office from an independent standpoint . it conducts operational audits , checks that internal control systems are functioning as they should , ensures that there is no dishonesty , and checks for areas for potential improvement . problems that come to light as a result of audit procedures become the subject of a recommendation for improvement . particularly important matters are reported to the audit committee and the board of directors , as well as to the executive officers . the executive officers decide upon and issue directives for speedy , appropriate responses .
apparently hoya mostly wanted some pentax patents for medical optics ( pentax also makes optics for scopes , medical instruments , etc . , not just cameras ) and did not care much about pentax . so there is some freedom in being ignored , but pentax didn ' t get much funding , and had to fire some key employees . ricoh is taking more interest , which might mean less
freedom
but will probably mean a lot more funds and better overall products . pentax getting some help from ricoh is not a bad thing , ricoh is a big company and has experience with electronics and design , things where pentax might be lacking so far . pentax is still making its own products . their factories and employees still exist . its not like ricoh bought the name and fired everyone . in fact , ricoh stated that the pentax name will be used for dslrs in the future . but we will have to wait and see what gets announced after the k - 3 .
the company is selling pentax to ricoh in a deal reportedly worth $ 124 million . the deal is expected to close in october .
pentax is widely considered an also - ran in the digital camera business . the company ' s worldwide market share last year , according to idc , stood at just 1 . 5 percent . for the most part , pentax ' s digital single - lens reflex ( dslr ) cameras lack advanced features found in the leading options from nikon and canon . however , pentax cameras are typically quite affordable compared to their competitors .
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sigma releases 120 - 400mm f / 4 . 5 - 5 . 6 for sony & pentax
sigma releases 150 - 500mm f / 5 - 6 . 3 for sony & pentax
the tamron 70 - 210mm f4 di vc usd is a lightweight telephoto zoom lens for dslr cameras that comes in at an msrp of $ 799 . how does it perform ? find out in our full review .
samsung ' s flagship galaxy s9 + comes with comprehensive photography features like dual optically stabilized rear cameras , smooth 4k video and of course , beauty filters for your selfies . but is it the best smartphone camera for you ? find out how it compares against the likes of apple ' s iphone x and google ' s pixel 2 in our full review .
the domke f - 6 , also known as the ' little bit smaller ' bag shares a lot of characteristics with the venerable ( and a little bit bigger ) f - 2 . senior editor barnaby britton has been using one for several years .
peak design ' s capture clip takes the pain out of carrying your camera – and the latest version is an improvement on an already popular design .
the rhake pack is weatherproof multi - purpose bag with a dedicated camera insert , lifetime guarantee – and steep price tag .
the instant camera market is heating up , and with four formats and 15 + cameras to choose from , we felt it was high time to examine them all and pick our favorite .
whether you ' re hitting the beach in the northern hemisphere or the ski slopes in the southern , a rugged compact camera makes a great companion . in this buying guide we ' ve taken a look at seven current models and chosen our favorites .
what ' s the best camera for a parent ? the best cameras for shooting kids and family must have fast autofocus , good low - light image quality and great video . in this buying guide we ' ve rounded - up several great cameras for parents , and recommended the best .
what ' s the best camera for shooting landscapes ? high resolution , weather - sealed bodies and wide dynamic range are all important . in this buying guide we ' ve rounded - up several great cameras for shooting landscapes , and recommended the best .
what’s the best camera costing over $ 2000 ? the best high - end camera costing more than $ 2000 should have plenty of resolution , exceptional build quality , good 4k video capture and top - notch autofocus for advanced and professional users . in this buying guide we’ve rounded up all the current interchangeable lens cameras costing over $ 2000 and recommended the best .
phase one has launched its new latitude processing presets series , the latest addition to the company ' s capture one style packs product launched last year . both latitude style packs contain eight presets , each with original , bright , and dark variations , for a total of 24 styles per pack .
godox has announced the impending launch of its upcoming ad400pro , a 400ws moonlight with wireless shooting capabilities and a battery life of 390 full - powered flashes .


hunting plc is a british-based supplier to the oil and gas industry .

some 27 % of the business is owned by the hunting family .

it is listed on the london stock exchange and is a constituent of the ftse 250 index .

hunting plc

1989 the hunting family merges its three publicly listed holdings into a single publicly listed entity , hunting plc .
* the bar in red indicates where hunting plc ' s current ratio falls into .
hunting plc combines three us entities as hunting energy services lp ,
petroleum finance week , february 11 , 2002 .
the last ic recommendation on hunting plc shares was buy at 627 . 00 on 01 mar 2018
hunting plc reported annual 2017 earnings of 0 . 0552 per share on mar 01 , 2018 .
hunting plc ' s current ratio for the quarter that ended in dec . 2017 is calculated as
hunting plc ,
oil and gas journal , march 4 , 2002 , p . 91 .
hunting plc ( otcpk : hntif ) current ratio : 3 . 68 ( as of dec . 2017 )
new directional drilling tools jointly developed by drilling tools , hunting specialty and hunting titan businesses .
hunting plc ( lse : htg ) the international energy services group today announces its full year results for the year ended 31 december 2015 .
baker hughes uk ltd . ; kvaerner e and c plc ; canadian superior energy inc . ; m . w . kellogg ltd . ; paladin resources plc ; expro international group plc ; saipem ( uk ) ltd . ; halcrow group ltd . ; slp engineering .
hunting plc had revenues for the full year 2017 of 524 . 83m . this was 41 . 23 % above the prior year ' s results .
soft cover . condition : good . paperback published london 1991 by hunting plc . front cover creased on corner . good condition . isbn 0 9517294 0 3 .
as of jul 06 , 2018 , the consensus forecast amongst 14 polled investment analysts covering hunting plc advises investors to hold their position in the company . this has been the consensus forecast since the sentiment of investment analysts deteriorated on may 22 , 2018 . the previous consensus forecast advised that hunting plc would outperform the market .
during the past 13 years , hunting plc ' s highest current ratio was 3 . 68 . the lowest was 1 . 11 . and the median was 1 . 61 .
hunting added a new service component in the 1960s when it began providing drilling equipment and support services to the north sea offshore oil industry . that operation was launched as a joint venture , hunting barnard oilfield services , in 1967 , controlled at 60 percent by hunting . this business , which later came under full ownership by hunting , became a significant part of hunting ' s operations into the 2000s .
hunting plc is an international energy services provider to upstream oil and gas companies . the company ' s segments include well construction , well completion , well intervention , and exploration and production . the well constr
42 . hunting brae ltd ' s management contract expired on 31 march 2000 and accordingly its shares in awe plc reverted to mod at that time . mod transferred the shares to the new management contractor and thus awe plc became a wholly - owned subsidiary of aweml as from 1 april 2000 , apart from the special share .
on monday , hunting plc ( htg : lse ) closed at 765 . 00 , - 18 . 14 % below its 52 - week high of 934 . 50 , set on may 21 , 2018 .
1952 the company launches hunting geophysics ltd . , pioneering the aerial geophysical prospecting market .
hunting buys two canadian firms ,
daily deal , december 6 , 2001 .
petroleum retailing , lubricants and specialised products were added to the portfolio and increasingly outside capital was brought into the business to fund expansion during the sixties and seventies . the hitherto privately owned hunting interests went public in three separate , though interrelated quoted companies . the situation was simplified in 1989 under clive hunting when all three were merged into the present hunting plc . his nephew richard hunting subsequently succeeded to the chair , taking up the reins as the company entered this new era .
hunting plc has a current ratio of 3 . 68 . it indicates the company may not be efficiently using its current assets or its short - term financing facilities . this may also indicate problems in working capital management .
hunting plc reported semi annual 2017 revenues of 293 . 31m . this bettered the 276 . 80m consensus of the 3 analysts covering the company . this was 58 . 20 % above the prior year ' s period results .
new hunting titan / drilling tools shared distribution and service centre opened in odessa , us .
41 . awe is a ' government - owned contractor - operated ' ( goco ) organisation , with mod owning the sites and facilities but operations being performed by a contractor . hunting - brae ltd has been the contractor for the last seven years and has used the employees of awe plc to manage and operate the site on a day to day basis . awe plc is a company created by mod ; it employs most of the workforce on the awe sites and is the repository of awe ' s scientific and production expertise . for the purposes of the goco arrangement awe plc became a subsidiary of hunting brae , the latter holding all the shares in awe plc with the exception of one special share retained by the secretary of state for defence .
by the end of the 1950s , hunting also had begun to look beyond its core businesses for growth . in 1957 , for example , the company decided to extend its engineering expertise into the growing field of heating and ventilation , forming a new subsidiary hunting mhoglas . by the early 1960s , the company had expanded into plastics manufacturing as well , and in 1962 the company created a new subsidiary , hunting light industries , to contain its various diversified engineering and plastics businesses . other operations grouped under hunting light industries included the field aircraft services group , including its african subsidiaries . the hunting group itself was by then controlled by pat hunting , son of percy hunting .
1962 after further diversification , such as in plastics manufacturing , the company launches hunting light industries .
59 . the department of trade and industry has confirmed that it is content with the indemnity provisions made for awe plc by the ministry of defence .
aero sekur s . p . a . ( italy ) ; canwest propane ltd . ( canada ) ; e . a . gibson shipbrokers limited ( england & hong kong ) ; gibson crude oil purchasing co . ltd . ( canada ) ; gibson energy ltd . ( canada ) ; hunting airtrust tubulars pte limited ( china and singapore ; 50 % ) ; hunting energy france s . a . ; hunting energy services ( international ) ltd . ; hunting energy services holdings inc . ( united states ) ; hunting oilfield services ( international ) pte ltd . ( singapore ) ; hunting oilfield services ( uk ) ltd . ; hunting performance inc . ( united states ) ; hunting pipeline services llc ( united states ) ; hunting specialised products limited ; interpec sas ( france ) ; larco sas ( france ) ; moose jaw asphalt inc . ( canada ) ; roforge sas ( france ) ; tenkay resources inc . ( united states ) .
on mar 01 , 2018 , hunting plc reported semi annual 2017 earnings of 0 . 1133 per share . this result exceeded the 0 . 09 consensus of the 3 analysts covering the company and outperformed last year ' s results for the same period by 0 . 2519 .
hunting , which was founded by veterinary surgeon charles hunting in 1874 , began life as a bulk shipping group . this year its shares have been as low as 90 . 5p , before recovering with the oil price . last week , hunting revealed that operating profits from its oil services division rose from £1 . 9m to £13 . 7m .
the changed landscape comes as a relief for service providers after a slump in crude prices that forced producers to cut spending and defer or cancel contracts .
we do feel like we are coming out of that ( oil and gas ) down cycle ,
wood chief financial officer david kemp said . aberdeen - based wood plc ' s market comments echo those of smaller rivals petrofac ltd ( pfc . l ) and hunting plc ( htg . l ) .
it was clear that awe plc would be the company with day to day control of the sites and activities upon them , and whose staff would manage the operation of the plant . consequently awe plc , as the user of the sites , was the appropriate body to hold the nuclear site licences in accordance with section 1 of the ni act ;
43 . under the revised goco arrangement operating from 1 april 2000 aweml is contracted to deliver results but compelled to sub - contract manufacture etc . to awe plc , which operates the sites . aweml is responsible for the supply of some management expertise through the recruitment of personnel who are formally directors of awe plc and thus part of the licensed corporate body .
the 14 analysts offering 12 month price targets for hunting plc have a median target of 855 . 00 , with a high estimate of 950 . 00 and a low estimate of 591 . 00 . the median estimate represents a 16 . 64 % increase from the last price of 733 . 00 .
* * oil support services co hunting up 4 pct at the top of the ftse 250 * * co says ebitda is likely to be nearer the upper end of market expectations , given the strong performance of hunting titan during . . .
the current ratio is a liquidity ratio that measures a company ' s ability to pay short - term obligations . it is calculated as a company ' s total current assets divides by its total current liabilities . hunting plc ' s current ratio for the quarter that ended in dec . 2017 was 3 . 68 .
53 . awe plc does bear the day to day running costs of awe but these are recovered by awe ml , which owns the shares of awe plc ( except for the golden share retained by mod ) , by invoicing customers against contracts placed with them . mod is virtually the sole customer , although there is a small amount of work carried out on a commercial basis .
hunting , the oil services and defence group , has rebuffed a takeover approach from duke street capital , a private equity firm .
this was duke street ' s second attempt to hold takeover talks with hunting . in the spring , it spoke to mr hunting and the non - executive directors . mr hunting said yesterday that the group had
had discussions with private equity houses
. however , it rebuffed these approaches and , at the annual meeting on april 26 , decided to put its defence business up for sale .
yesterday mr hunting confirmed the approach .
edmund truell rang me on the day of the results and he said we ought to go private . we said it ' s not our strategy .
mr hunting added :
we haven ' t had an offer .
hunting plc , the international energy services company , today announced that it has signed a collaboration agreement with us - based enhanced oil recovery company , titan oil recovery inc . the agreement allows hunting to add organic oil recovery ( oor ) to a growing list of hunting ‘tek - hub’ products and technologies focussed on enhancing production in late field life . the oor process involves stimulating the growth of specific species of indigenous microbes within producing reservoirs , which have the effect of reducing the physical size of trapped oil droplets , greatly enhancing production rates at a fraction of the cost of alternate enhanced oil recovery ( eor ) technologies .
it was indeed a worldwide , leading edge concern that sir percy hunting left to the next generation and to pat hunting on his retirement with a knighthood in 1960 . always a pragmatist and a people person , his drive and enthusiasm for getting the best out of the team made a lasting impression .
50 . the awe plc nuclear safety committee terms of reference and procedures are unchanged . curriculum vitae for the new nsc members were formally submitted to nii and , following consideration of the particulars , no objections were made on membership .
non - nia65 risks : awe management limited and awe plc are indemnified against nuclear risks beyond the £140m for which insurance is required under the provisions of nia65 , embracing claims arising as a result of damage to property , or in respect of death or personal injury to a third party .
hunting increasingly sought outside capital to fuel its expansion , giving rise to a fairly complex organization - - by the end of the 1960s , the hunting family ' s interests were represented by three publicly listed companies , each of which also maintained significant shareholdings in the others . during the 1960s , the company also began retailing petroleum products , especially in canada , where it became one of the market leaders . this was especially true in the retail distribution of propane gas ; by the end of the century , hunting claimed the number two spot in the canadian market for this segment .
44 . from 1 . 4 . 2000 the chief executive of awe plc is required to attend the board meetings of aweml and can thus contribute to any discussion that might directly or indirectly affect safety . additionally there is an independent director to the aweml board with specific responsibility for monitoring safety performance .
the approach was made by edmund truell , duke street ' s chief executive , on thursday last week after hunting reported its half - year results , where pre - tax profits rose 7pc to £13 . 3m . mr truell called richard hunting , the executive chairman whose family controls 28pc of the shares , and indicated he was prepared to make an offer at a reasonable premium to the then share price .
nuclear installations act ( nia65 ) risks : awe plc is indemnified against any claims arising out of , or in conjunction with its use of the establishment and transport of nuclear matter to and from the establishment for which insurance of up to £140m , exclusive of interest and costs , is required under nia65 .
hunting plc is an international energy services provider to the world ' s leading upstream oil and gas companies . established in 1874 , it is a premium listed public company traded on the london stock exchange . the company maintains a corporate office in houston and is headquartered in london . as well as the united kingdom , the company has principal operations in canada , china , indonesia , kenya , mexico , netherlands , norway , singapore , saudi arabia , south africa , thailand , united arab emirates and the united states of america .
* * energy services provider hunting ' s shares down 6 . 4 pct ; bottom of ftse 250 * * morgan stanley downgrades to
underweight
from
overweight
in a note entitled
us bottlenecks . . .
in the electronics arena hunting provides power supplies , printed circuit board’s ( pcb ) primarily for the measurement while drilling / logging while drilling ( mwd / lwd ) sector as well as switch gear and instrumentation for managing perforating operations .
hunting’s well intervention activities support the range of operations undertaken in the maintenance of an active well to include pressure control equipment , slickline and wireline , mechanical plant , thru - tubing technologies and well testing equipment that supports ongoing production .
hunting ' s exposure to the defense and aviation industries left the company vulnerable in the early 1990s . the collapse of the soviet empire and the end of the cold war caused a dropoff in defense spending around the world . the outbreak of war in the persian gulf also led to a downturn in the aviation industry . pressure on these operations continued throughout the decade , and by the late 1990s hunting had decided to abandon the aviation business , selling off its aviation holdings by 1999 .
much later the hunting name in aviation became synonymous with a range of military and civil aircraft including the jet provost and in its nascent days the aircraft that would become one of britain ' s best export sellers , the bac 1 - 11 .
a round - up of notable broker activity this morning from europe ' s top - ranked * analysts : * * macquarie downgrades hunting to
neutral
due to headwinds in the u . s . market and 2018 upgrades integrated . . .
60 . the environment agency act 1995 ( ea act ) 7 introduced a statutory obligation on hse to consult the appropriate environment agency ( ea ) before granting or revoking a licence . hse consulted the ea in relation to the licence applications for aldermaston and burghfield under the terms of the ea act . the ea raised no objection to the granting of the new licences and the revocation of those being superseded . the ea also indicated its intention to issue to awe plc new authorisations under the radioactive substances act 1993 for the disposal of radioactive wastes from aldermaston and burghfield and to revoke the authorisations formerly held by hunting - brae ltd .
* * oilfield services company hunting + 3 . 6 pct - second top gainer on ftse midcap index * * posts 82 pct fall in h1 loss on higher demand for equipment and services as u . s . shale companies drilled more wells . . .
the first world war decimated the hunting fleet and when charles ' two sons percy and lindsay got to grips with the business in the early twenties it was a desolate landscape that greeted the brothers . determined once again to rebuild the fleet , percy as
governing partner
also diversified the business by taking the company into aircraft servicing and manufacturing , and some years later an airline business , hunting clan . during the 1930’s , the brothers also backed an e & p venture , prospecting for oil in the texas .
2001 hunting exits the defense market and completes the disposal of its diversified operations to become a focused energy services group ; the company acquires thread tech energy systems , and columbia fuels , both in canada , as part of an acquisition drive to boost energy services operations .
56 . the mod provided an assurance that as regards the funding level for decommissioning and waste management , the management contractor is committed to meeting all identified decommissioning and waste management requirements known at the point of bidding . to the extent that regulatory requirements imposed on awe plc increase the commitment associated with decommissioning and waste management beyond that contemplated in the contract , the associated additional costs would fall to mod .
in 2001 , hunting acquired two canadian oil services companies , thread tech energy systems and columbia fuels . the former provided oilfield tubulars and connections , while the latter focused on propane equipment supply and services , in large part on vancouver island . other acquisitions followed , including 2002 ' s purchase of roforge , in france , which manufactured steel valves for the global energy , refining , and petrochemical industries . in 2005 , the company added operations in aberdeen , houston , and singapore through its purchase of cromar ltd . the addition of cromar expanded hunting ' s energy services profile , adding new areas such as a wireline pressure control , perforating tools , and other specialized equipment . hunting continued to build on its heritage as one of the world ' s oldest and leading providers of services to the international energy industry .
47 . in view of the proposal that awe plc should be the licensee but with management and financial expertise provided by directors recruited by aweml , nii paid particular attention to the integrity of the licence applicant as a corporate body . subsequently , the arrangements for implementation of the prospectus and the commitment to it of the management and the workforce were reviewed through inspections undertaken by nii inspectors , with the following outcomes :
last week it said it was
continuing our negotiations with a number of interested parties
. last night mr truell said :
we made a serious approach that we still hope the board will consider . it ' s not our intention to make a hostile bid for hunting .
hunting ' s reorganization continued into the first half of the 2000s , which saw the company exit most of its defense operations in 2001 and the disposal of most of its other diversified businesses , such as operations in automobile parts manufacturing . in this way , the company transformed itself from a diversified
mini - conglomerate
into a company dedicated to the energy services market . as such , the company launched a series of acquisitions into the mid - 2000s . in 1998 , for example , the company acquired landell industries , which expanded hunting ' s position in the gulf of mexico market .
change is our travelling companion ; we have demonstrated endless resilience and willingness to embrace new industrial and societal contexts . entrepreneurial spirit has been ever present during our history , from the founding by charles samuel hunting right through to today , where we are continually driving new possibilities for oil and gas extraction .
oilfield services company wood plc said it was not yet able to demand higher prices for its products despite an oil market rally that has been helping energy companies . the changed landscape comes as a relief for service providers after a slump in crude prices that forced producers to cut spending and defer or cancel contracts .
we do feel like we are coming out of that ( oil and gas ) down cycle ,
wood chief financial officer david kemp said .
he was a dynamic and directed man , characterised by his clear vision on what would power world trade . leading by example he took a timely risk by ordering one of the first ever oil tankers . a subsequent building programme was to see one of the largest independent tanker fleets in the world flying the hunting flag .
54 . mod has obtained joint and several unlimited guarantees from the parent companies of awe ml which underwrite all the liabilities of awe ml , including all those relating to awe plc . these parent companies are major defence contractors and are subject to mod ' s normal scrutiny on financial health . in addition to this normal and general oversight , mod runs special financial health checks whenever circumstances arise which render it prudent to do so . through these arrangements mod has confirmed that it will ensure that adequate funding is available to maintain safety .
the acquisition of the titan group in 2011 was the largest in the company’s history significantly extending the range and utility of products in the wellbore from downhole instrumentation and perforating systems to access complex and unconventional reserves around the world . hunting continues in its search for value with management in the vanguard , inspired by the entrepreneurial spirit and driven by the leadership of previous generations .
local stocks of consumable products provide the customer with ready access to mwd components , drill screens , float valve assemblies , handling equipment and job boxes . perforating systems , setting tools , tubing conveyed firing heads and hardware , energetics , logging and perforating equipment , wireline hardware and accessories and wireline selective firing systems , are all made available through hunting’s global distribution network but proving particularly effective for onshore operations , typically in the shale basins .
the company manufactures tools and equipment for the global upstream energy industry . this can be hunting proprietary technology , customer owned intellectual property or print part . products are engineered principally for application down hole through the functional stages in the wellbore from drilling through to plug and abandonment . manufacturing is undertaken at facilities strategically located in the major oil and gas centres around the world . the global distribution network gives the customer technical and logistical support at a local level .
when charles samuel hunting entered the oil business in the 1890s he was already expanding upon a successful shipowning firm set up by his father , also named charles , in 1874 . an inveterate traveller , he had journeyed the world
to study the oil trade
and in short order had pursued exploration prospects in russia , built the first batch oil refinery on the thames , invested in a production venture in hungary and sought trading opportunities out of the gulf of mexico .
state of the art premium connections and semi - premium connections are developed in house with ancillary engineered products that protect the wellbore from annular pressure buildup . hunting also provides thread sealant and thread protection products to enhance thread performance capabilities . the company has a state of the art connection testing facility supporting industry or customer specific testing requirements . the oil country tubular goods ( octg ) capability provides casing and tubing solutions integrated within the manufacturing and maintenance facilities representing world class pipe mills and octg distributors .
in the drilling phase the company provides a wide range of mud motors , vibration dampeners , reamers , non - magnetic drill collars and assorted other rental tools to assist in the drilling of the wellbore . hunting’s advanced machining capabilities extend to deep hole boring , gun drilling , precision grinding and coating capabilities . in the construction phase , advanced machining capabilities extend to deep hole boring , gun drilling , precision grinding , honing , trepanning , an assortment of critical inspection and coating capabilities and horizontal directional drilling ( hdd ) rods , accessories and turnkey manufacturing capabilities that support the hdd and trenchless industries .
further diversification came after the second world war in which yet again hunting personnel suffered the most appalling loss of life in the tanker trade . the urgency to test new markets , scan the horizon for new opportunities and to anticipate the needs of industry led the brothers into all sorts of ventures - and adventures . not always successfully , but always with an eye to be leaders in the field . oil had been struck in texas , a world - class defence company had been established ( whose precision engineering skills gave rise to the formation of an oil services company ) , an aerial survey and geophysical business with a global reach built and substantial investments made in the canadian oil sector .
the hunting community is committed to the protection of the environment no matter where in the world we operate . we aim to use renewable resources wherever possible and develop manufacturing processes and procedures such that any impact on the environment , if any , is reduced to a practicable minimum . we take the view that sustainable development is in the interests of all our stakeholders and include environmental issues in our planning and decision - making . policy is developed at a corporate level and encourages each operating unit to : develop and implement their own procedures whilst conducting regular reviews to ensure that they are maintained and refined ; reduce waste , emissions and promote the use of recycled materials ; pay special regard to the environmental issues and requirements of the communities and locations in which we work and live ; be involved in and understand the particular environmental issues relating to the industry in which we operate ; promote employee awareness of their own responsibilities and encourage participation in voluntary environmental projects .
the asl aviation group has its origins in air bridge carriers in the united kingdom which was formed in 1972 , operating four argosy aircraft to fly fresh produce from the channel islands .
asl aviation holdings dac aviation house no . 3 malahide road swords co . dublin k67 pp52 ireland t + 353 1 892 8100 f + 353 1 892 8150 info @ urltoken www . urltoken
subsea technologies provided to the customer include hydraulic couplings , chemical injection systems , specialty valves , weldment services and full subsea testing facility to assist in offshore production from subsea platforms .
through the company’s trenchless business unit , hdd rods and stems are manufactured for the telecommunications industry .
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45 . an important aspect of hse ' s approach to the regulation of awe was to gain confidence that the licensee had a robust safety management system and possessed a well structured and resourced organisation to manage the licensed sites .
46 . a safety management prospectus ( smp ) can be regarded as that part of a licensee ' s safety case which deals with management issues ; it describes the organisation of a licensee / licence applicant , its environmental , health and safety policy and its safety management system . the smp provides assurances on various issues . the items that should be covered are indicated in hse ' s publication :
nuclear site licences - notes for applicants
.
it was clear that the new management team would bring wide and relevant experiences of the management of complex organisations . it was also evident that a great deal of thought had been given to the
lead in
process . some of the directors had been involved in taking over other goco organisations and were clear on the processes that needed to be followed ;
approximately 180 supporting staff were involved in a large programme of information gathering . these assessments , for the lead - in process , were completed by april 1st . strategic objectives and plans had been prepared . examination of those plans and discussions with the directors provided evidence that the plans were being developed for the long term ;
each of the new directors had a programme of familiarisation visits to the plants for which they were to become responsible . briefings on the management prospectus and current safety management systems had also been provided . some of the current awe senior managers / directors were expected to remain with the company for at least 6 months . this was judged to be a prudent measure and one which would contribute to a smooth transition .
the new management team had stated that it wished to be more open in its dealings with employees , the public and mod . it was evident that efforts had been made to provide the workforce with information ; several briefing sessions had been held and three newsletters had been issued .
48 . the management prospectus met the requirements identified in the
notes for applicants
guidance , subject to minor changes .
49 . licence condition 13 requires that a licensee should set up a senior level committee which should consider and advise on matters which affect the safe design , construction , commissioning , operation and decommissioning of the installations on the licensed site and any other matters relevant to safety . the committee must have members who are adequately qualified to perform this task and to provide a source of authoritative advice to the licensee . the committee , however , is purely advisory and must not be considered to have an executive function , but the hse must be informed if the advice of the committee is not to be followed by the licensee .
51 . hse should be satisfied before granting a licence that the applicant corporate body has the necessary financial resources to discharge the obligations and liabilities connected with having a nuclear site licence .
52 . the sites and assets on them are the property of mod . changes to this asset base , including those related to safety , can only be made with mod approval and are funded through mod ' s management and operation contract with awe ml . changes to the asset base , in this context , include the decommissioning of plant , equipment and facilities as well as the creation of new assets . as owner of the sites , mod is responsible for the eventual decommissioning of the sites when that is considered appropriate . such decommissioning would be undertaken under contracts placed and funded by mod , who will also meet associated long - term liabilities .
55 . in view of the assurances received from the ministry of defence hse has not deemed it necessary to assess the financial arrangements of the prospective licensee in detail .
57 . under the ni act s . 19 ( 1 ) licensees must ensure that sufficient funds are available to meet third party claims within the limits prescribed in the act . this provision is not enforceable by hse under the hswa , but comes within the remit of the department of trade and industry . however the licensee ' s ability to satisfy dti in this respect is included in hse ' s consideration of the licence application .
58 . mod has provided an indemnity for the awe sites as an alternative to commercial insurance . the indemnity , effective from 1 april 2000 , is in two parts in respect of nuclear risks :
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the shares closed at 147 . 5p on the day of the results , valuing the business at £148m . it has since emerged that duke street owns just over 1pc of the company . the shares closed up 6 . 5 yesterday at 154 . 5p .
however , the defence wing was hit by
operational difficulties
at its irvin italy parachute business . it has been forced to make a £1m - plus provision after the italian ministry of defence changed the technical specifications for its parachutes .
louis saha : ' a british bank lost me a six - figure sum . i’m suing’
tarryn riley head of investor relations tarryn . riley @ urltoken tel : + 44 ( 0 ) 20 7321 0123
for all contacts regarding our products and services , please see our regional addresses .
the early shipping years bred a strong culture of trust and expectation of integrity . it was possible , after all in those pre - radio days , for a master of his ship to be away for nearly a year on some of the longest voyages . the ship ' s company needed the reassurance that the owners were working in their best interests and the owners on their part had to have faith in the dependence of their crew . this autonomous style of management is still deeply rooted .
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htg : lse price rises above 15 - day moving average to 773 . 50 at 17 : 06 bst
uction segment provides products and services used by customers during the drilling phase of oil and gas wells , along with associated equipment used by the underground construction industry for telecommunication infrastructure build - out and precision machining services for the energy , aviation and power generation sectors . the well completion segment provides products and services used by customers during the completion phase of oil and gas wells . the well intervention segment provides products and services used by customers during the production , maintenance and restoration of existing oil and gas wells . the exploration and production segment includes its oil and gas exploration and production activities in the southern united states and offshore gulf of mexico .
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2002 roforge in france , which supplies valves to global energy industries , is acquired .
2005 the company acquires cromar ltd . based in aberdeen , with subsidiaries in houston and singapore , which provides services and equipment to the energy market .
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london , oct ( shenzhen : 000069 . sz - news ) 24 ( reuters ) - firmer commodities - related stocks barely kept the uk ' s top share index out of negative territory on tuesday as results depressed whitbread , though small cap carillion saw its shares boosted by progress with its debt . britain ' s blue chip ftse 100 index ended flat at 7 , 526 . 54 points and mid caps fell 0 . 1 percent .
away from politics , it ' s been quiet on the brexit front , so i think british investors are looking more at earnings season ,
said henry croft , research analyst at accendo markets .
london , oct ( shenzhen : 000069 . sz - news ) 24 ( reuters ) - firmer commodities - related stocks failed to keep the uk ' s top share index out of negative territory as results depressed whitbread , though small cap carillion saw its shares boosted by progress with its debt . britain ' s blue chip ftse 100 index was down 0 . 1 percent at 7 , 517 . 09 points by 0855 gmt while mid caps were also down 0 . 1 percent .
$ 118 . 0m of free cash generated to give closing net debt of $ 110 . 5m ;
charges for restructuring costs and impairment to property , plant and equipment , goodwill and other intangible assets totalling $ 259 . 7m .
final dividend of 4 . 0 cents per share proposed , subject to shareholder approval
subject to approval , the dividend will be paid on 6 july 2016 , to shareholders on the register on 10 june 2016 with a cash cost of $ 5 . 9m ;
total dividends for the year 8 . 0 cents per share , with a total cash cost of $ 11 . 8m .
* underlying – results for the year as reported under ifrs adjusted for the amortisation of acquired intangible assets and exceptional items . reported – results for the year under ifrs . * non – gaap measure ( “ngm” )
an analyst presentation and webcast will be held at 10 . 30 a . m . today at the offices of buchanan , 107 cheapside , london , ec2v 6dn .
“today’s results reflect the severity and speed of the reduction in oil and gas activity , particularly across north america . while this has created challenges for all market participants , the group has adapted quickly to the changing market environment and remains ready to respond when industry investment recovers . ”
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* all numbers are in millions except for per share data and ratio . all numbers are in their local exchange ' s currency .
* competitive companies are chosen from companies within the same industry , with headquarter located in same country , with closest market capitalization ; x - axis shows the market cap , and y - axis shows the term value ; the bigger the dot , the larger the market cap .
the current ratio is mainly used to give an idea of the company ' s ability to pay back its short - term liabilities with its short - term assets .
the current ratio can give a sense of the efficiency of a company ' s operating cycle or its ability to turn its product into cash . companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations . because business operations differ in each industry , it is always more useful to compare companies within the same industry .
acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses .
the higher the current ratio , the more capable the company is of paying its obligations . a ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point . while this shows the company is not in good financial health , it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign .