Latvian Shipping Company Selling Non-Core Assets

first_imgzoom The solvency of LLC LASCO Investment, a subsidiary of JSC Latvian Shipping Company, has been fully restored after a decision of the Riga City Vidzeme Suburb Court on Monday, August 24.The decision was made following the settlement among company’s creditors and will enable the shipping company to resume to sale of its non-core assets.“Latvian Shipping Company will continue the disposal of non-core assets to help meet financial obligations and maintain its focus on its core business. LASCO Investment will therefore look to sell its property portfolio,” notes Chairman of the Board of JSC Latvian Shipping Company, Robert Kirkup.LLC LASCO Investment is a company holding and managing the real estate owned by the Latvian Shipping Company. The real estate portfolio consists of the Publishing House building, recreation centre Liejastiezumi, hotel Rigas Licis, Ventspils Business Centre and others.On August 3, 2015, the activity of the board of LLC LASCO Investment was restored and Robert Kirkup was appointed chairman of the board for a three-year term.Latvian Shipping Company manages a fleet of 20 medium and handy size tankers, employing more than 500 seamen from Latvia. The average age of the LASCO fleet is 8 years.last_img read more


MineARC launches next generation refuge chambers

first_imgMineARC Systems latest model range of refuge chambers for the hard rock mine (HRM) industry is the HRM Series IV; “featuring the very latest in safe-refuge technology,” says Mike Lincoln, MineARC General Manager. The MineARC HRM range is now embedded worldwide; deployed in over 100 operations, in over 40 countries, on six continents. The HRM Series IV builds on the success of the Series III.  It’s now even safer, it’s smarter, and it’s easier to maintain and service.  We’ve also included a number of structural modifications that make it easier to position onsite.” A major upgrade is the new Series IV CO/CO2 (carbon monoxide/carbon dioxide) scrubbing system.  Gone are often cumbersome ‘free-pour’ chemicals – the Series IV now uses pre-packaged chemical canisters that are easy to load and handle, and store for long periods.“The prepackaged chemical canisters are already widely recognised and accepted within the industry.  The popular MineARC HRM-ELVP (extra-low-voltage-portable) range of refuge chambers already uses the canister system,”  says Lincoln. Another unique feature of the Series IV is the Intelligent Voice Audio Navigation system (iVAN).  The iVAN system is the onboard guide that ‘talks’ occupants through the operating procedures and alerts at important regular intervals that require action, such as scrubber chemical change outs and gas-level recordings.  iVAN can be programmed to speak in any language.Lincoln: “With the HRM Series IV we feel we’ve taken emergency refuge to the next level.  The self diagnostic capabilities, the new digital controller interface and the simplicity of the new scrubbing system are key to this”As with all its HRM chambers the Series IV was designed and refined in co-operation with some of the world’s leading mining companies, and complies in full with the 2009 West Australian Dept of Mines & Petroleum Guideline: Refuge Chambers in Metalliferous Mines.The New Series IV HRM is available in both standard and custom-engineered models.  The standard model range includes 8, 12, 16, 22, 26 and 32 person models. Lincoln: “The Series IV HRM had its ‘pre-launches’ at MINExpo in Las Vegas and at GME in Kalgoorlie in September/October 2012. Since then the response from industry has been very encouraging and we’ve already received a number of pre-orders both from Australia and internationally.” Key features of the new MineARC Series IV HRM refuge chamber include: Advanced digital controller interface with full chamber diagnostics capability12 hours self maintenance function including battery, scrubber and inverterFull remote systems monitoring, including live internal video streamInternal LCD monitor displays, USB port, PC docking stations and Ethernet connectivityAdvanced CO/CO2 scrubbing system with increased scrubbing/air flow capacityEasy to load pre-packaged scrubber chemical canisters (not free-pour)iVAN (Intelligent Voice Audio Navigation)‘Talks’ occupants through operating proceduresAlerts at regular intervals requiring actionAvailable in any languageBattery back-up (UPS) now upgradable to 96 hoursSeparate battery ‘string’ monitoring to pinpoint potential failures caused by surge/drainageImproved structural integrity and transport featuresImproved rear chamber housing providing added protection for air-conditioning unit, transformer and air filter kitRear escape hatch with internal and external accessImproved lifting lugs, skid-base and front end loader featuresBlast resistant optional to 15 PSI.last_img read more


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