FCL PREPARES TO SELL CAPSTONE HOLDINGS.Byline: Brent Hopkins Staff Writer CHATSWORTH - Executives predict Capstone Turbines Capstone Turbine Corporation NASDAQ: CPST, incorporated in 1988, is a California based gas turbine manufacturer that specializes in microturbine power and heat cogeneration systems. Capstone has sold and shipped more than 3,000 of these one-moving-part systems worldwide. Inc. will keep spinning smoothly as 7 million of its shares change hands in coming months. Currently, New Zealand's Fletcher Challenge Limited, an energy consortium, owns roughly 10 percent of Capstone, which manufactures microturbines employed in a variety of uses, including backup generation and powering hybrid vehicles This is a list of hybrid vehicles in chronological order of production: Early designs
FCL FCL Facility (Security) Clearance FCL Full Container Load FCL Framework Class Library (Microsoft .NET) FCL Fault Current Limiter FCL Forecastle (ship's hull) purchased its stake of the manufacturer of microturbines last June during Capstone's initial public offering, owning as much as 8.1 million shares at one point. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Capstone's chief financial officer Jeff Watts, FCL decided to release 5 million of those shares to its shareholders in November. FCL is now liquidating its assets, and oil conglomerate Royal Dutch/Shell Group is looking to pick up some of the pieces. Included in that deal is the 7 million shares of Capstone, which anticipates no noticeable impact in the deal. Capstone has sold a total of 76 million shares. ``It means very little to Capstone at the end of the day,'' Watts said. Shell, working in conjunction with Apache Corp., is offering $1.63 billion to acquire FCL's energy holdings. Its main competitor, Peak Petroleum of New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , has offered $1.76 billion, but Shell is not expected to go higher. ``Shell/Apache has made a firm and final offer,'' said Mike McGarry, spokesman for Shell International media relations. FCL shareholders will vote on the issue at a March 6 meeting, but the outcome has little bearing on Capstone's day-to-day operations, Watts said. ``It's like if you sold your own personal shares of IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) ,'' he said. ``I doubt that the corporation would care too much.'' |
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