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News Update: CONSOL Energy Inc. (NYSE:CNX); Pratt & Whitney; Under Armour Inc (NYSE:UA)

Posted in Business1 year ago • Written by Ryder JessicaNo Comments

Dallas, Texas, 10/03/2014 (ustrademedia) – CONSOL Energy Inc. (NYSE:CNX) announced on 2nd October that Mr. Gregory A. Lanham and William N. Thorndike, Jr. have been elected as independent directors who will be serving on its Board of Directors. The two new directors are expected to bring a treasure trove of experience and skills to the board at such a time, when the oil firm is looking to expand its sphere of operations. CONSOL Energy Inc. (NYSE:CNX) Executive Chairman J. Brett Harvey expressed his happiness at the strengthening of the board of directors. He has indicated that the credentials of the new board members would help in implementing the growth strategy of the firm.

Aircraft engines manufacturer and service provider Pratt & Whitney announced yesterday that it has inked nearly $6 billion worth supply and manufacturing deals over the past five months with its suppliers. The firm disclosed that it has signed nearly 135 agreements which add up to nearly $16 billion worth investments in order to step up its production activities. The move comes on the back of the move by the engine provider to double its production capacity by end of 2020. The supply agreement relates to all products which go into the manufacturing of engines across the board.

Under Armour Inc (NYSE:UA) announced on 2nd October that it has decided to invest in a new “one million square foot” distribution centre and storage warehouse. The warehouse will be based out of Mount Juliet in Tennessee. The announcement was made by the company in the presence of Tennessee Governor Bill Haslam, and Bill Hagerty who is the Commissioner of Economic and Community Development. This would be the third warehouse being put out by Under Armour Inc (NYSE:UA) in U.S. In order to commission this new facility, the firm would be sinking in nearly $100 million into this project. The project is expected to create 1,500 new jobs.

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