On Wednesday, Lincoln Electric Holdings (NASDAQ:LECO) purchased the privately-held automated systems and tooling manufacturer Tennessee Rand, headquartered in Chattanooga, with terms of the deal unreported. Chief Executive Officer Christopher L. Mapes of Lincoln said that, “Tennessee Rand strengthens our already strong position as a market leader in welding automation in North America. Tennessee Rand brings extensive tool design, system building, and machining capabilities that will enable Lincoln to further expand its welding automation business. It is a nice complement to our recent acquisition of Wayne Trail Technologies.”
SunPower Corporation (NASDAQ:SPWR) has divested its 579-megawatt Antelope Valley Solar Projects to MidAmerican Solar, a subsidiary of MidAmerican Renewables. The projects are located in Kern and Los Angeles Counties in California. The two combined projects will create the biggest permitted solar photovoltaic power development in the world and will also create an estimated 650 jobs during their building.
Chatter has it that Molycorp’s (NYSE:MCP) fall below the value of its net assets is turning the company into a takeover target. The firm owns a rare Earth supply unrivaled in the Western hemisphere and also comprises the largest domestic deposit of metals that go into smartphones, solar panels and hybrid cars. It gave investors losses of 61 percent in 2012 during a slump in rare Earth prices, expense overruns at its California mine, a regulatory inquiry and the exit of its chief executive officer. Shares rebounded from a record low in November, but they are trading at a 19 percent discount to its book value, says data compiled by Bloomberg.
Mednax (NYSE:MD) has purchased Anesthesiologists Associated, a private physician group practice providing anesthesia services, and Pediatric Surgical and Associates, a pediatric surgery physician group practice in the Dallas-Fort Worth Metroplex. The due diligence process for these two acquisitions continued over the past several months which resulted in both transactions being closed and effective as of December 31st. Both purchases were for cash, but no specifics were given.