** SAI reported that its Board of Directors, following a recently completed comprehensive strategic review, has authorized management to pursue a plan to separate into two independent, publicly traded companies.
Online PR News – 04-September-2012 – Las Vegas, NV – SAI, Science Applications International Corporation
SAI reported that its Board of Directors, following a recently completed comprehensive strategic review, has authorized management to pursue a plan to separate into two independent, publicly traded companies. The proposed separation is intended to take the form of a tax-free spin-off to SAI stockholders of 100% of the shares of a newly formed company focused on government technical services and enterprise information technology (IT). The spin-off is expected to occur in the latter half of next fiscal year, subject to final approval of the Board of Directors. The spin-off is not expected to require a vote of the stockholders of SAI. Based on current plans, the two separate businesses would be: - A technical services business This business will focus on government technical services and enterprise IT businesses, and have a leaner and more efficient cost structure. - A solutions-focused business This business will focus on delivering science and technology solutions in three high-growth markets that reflect high priority, long-term global needs national security, engineering and health. SAI is a FORTUNE 500(R) scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. More about SAI at www.saic.com
JKS, JinkoSolar Holding Co., Ltd.
JKS reported that it will work with EPC partner Solea Renewables to deliver a Limpopo province chrome mine with the first ever off-grid utility scale photovoltaic system in South Africa. The 1 megawatt plant will produce approximately 1.8 GWh of electricity per year and will effectively reduce the mine's daytime diesel dependency for the next 20 to 30 years. JKS is a leading solar power product manufacturer with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai, China; Munich, Germany; Bologna, Italy; Montpellier, France; Zug, Switzerland; San Francisco, U.S.; Queensland, Australia; Ontario, Canada and Singapore. More about JKS at www.jinkosolar.com
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