The Shaw Group Inc. (NYSE: SHAW) today announced it has reached an agreement to buy out Rolta India Limited’s 50 percent ownership in Shaw Rolta Limited for a net price of $23 million. The two companies formed the joint venture in 2004.
Shaw will assume full ownership and control of the Mumbai, India, operations, which immediately will expand to provide engineering, procurement and construction management services for power, process, environmental and infrastructure projects worldwide.
“The Mumbai engineering operation is a key element in Shaw’s strategic growth plan as a competitive international engineering, procurement and construction contractor,” said J.M. Bernhard Jr., Shaw’s chairman, president and chief executive officer. “Full ownership of this office will allow us to operate more effectively as we pursue significant industry opportunities in India and around the world.”
The professional and technical staff in Mumbai operates state-of-the-art design automation software tools for process engineering calculations, process optimization, simulation, modeling and computer-aided design for projects including an olefins recovery project in Asia and an ethylene project and petrochemicals project in the Middle East.
Charitable giving in the United States totaled $323.86 billion in 2010, up 6.6% from 2009, according to a newly released report from the Atlas of Giving.
“The Atlas is a game-changer for nonprofits in terms of the management of operations related to gift income.”
The 2010 figure is particularly meaningful given the fact that 2009 saw an unprecedented decline in donations to American nonprofits of 5.7%.
The growth in giving was fueled primarily by robust stock market performance. The S&P index gained more than 15% for the year.
Charitable giving results varied considerably by organization. Nonprofits that derive significant income from major gifts, corporate giving, foundation grants and bequests did better than those relying on smaller gifts from individuals. Donor advised funds had a record year in additional contributions, new accounts, and distributed gifts. Online giving was exceptionally strong in 2010.
The rebound, while welcomed, was limited by factors including high unemployment, and economic fallout from the BP gulf oil spill.
Nick Melvan, an MD/PhD student at LSU Health Sciences Center New Orleans, is one of 70 members of the US delegation of students chosen to participate in the 61st Meeting of Nobel Laureates and Students in Lindau, Germany.
From June 26 - July 1, 2011, about 20 Nobel Laureates in Physiology or Medicine and 550 young researchers from around the world will meet in Lindau, Germany to exchange ideas, discuss projects and build international networks.
Melvan, awarded an F30 Fellowship by the NIH, is conducting research in the LSUHSC Department of Physiology and Comprehensive Alcohol Research Center. His research explores the effects of acute alcohol intoxication on the innate immune response to bacterial infection. His studies investigate novel molecular mechanisms underlying impaired granulocyte production and the increased prevalence of systemic bacterial infections in individuals who abuse alcohol.
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