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Rocky Mountain Bank, a community bank serving customers with nine offices, announced that its Board of Directors elected an officer and approved the following promotions effective Jan. 1, 2011.
Tate Dempewolf, promoted to Assistant Vice President/Ag and Business Banking. Dempewolf has five years experience in the banking industry and holds a degree in business administration from the University of Montana Western, Dillon.
Stillwater Mining Company of Nye, Montana, and Benton Resources Corp. today announced that they have entered into an agreement in which Stillwater will acquire Benton's entire interest in the Bermuda Property located near Marathon, Ontario as well as Benton's 2% NSR royalty interest at Stillwater's recently acquired Marathon PGM/Copper Project. Benton will retain a 1% NSR royalty on any ores mined from the Bermuda Property beyond a production threshold of 2.5 million aggregate ounces of Palladium, Platinum and Gold. Under the Agreement, Stillwater will pay Benton the sum of $14 million (Canadian) and Stillwater shares on a 50:50 split.
NorthWestern Energy has signed a memorandum of understanding to purchase a 25-megawatt wind project in central Montana to be developed by Compass Wind.
The project, which was submitted to NorthWestern in response to a 2009 community renewable resource solicitation, is consistent with recent Montana legislation that provides for the reintegration of the utility. The Spion Kop wind project is intended to be placed into the Montana utility’s rate base with both the energy and associated renewable energy credits used to meet future renewable portfolio standards obligations.
Stillwater Mining Co., Nye Mont., today, announced the closing of two separate secondary offerings by its majority stockholder, Norimet Limited, a wholly-owned subsidiary of Russian nickel producer, MMC Norilsk Nickel.
In total, Norimet has sold its entire 49.8 million share interest in Stillwater. The sale of 46.0 million shares of Stillwater common stock closed today, of which 37.0 million shares were sold to the public at a public offering price of $19.50 per share. Also in connection with this offering, today the underwriters exercised their over-allotment option in full to purchase an additional 3.8 million shares. Norimet sold the remaining 9.0 million shares to UBS Securities LLC in connection with the closing of a previously announced public offering by UBS AG of Mandatorily Exchangeable Notes due 2012. Upon the closing of the over-allotment option later this week, Norimet will no longer own any shares of Stillwater's common stock. Stillwater Mining Company is not receiving proceeds from either of the offerings by Norimet.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, UBS Securities LLC and VTB Capital PLC acted as joint bookrunning managers for the underwritten public offering of the common stock. VTB Capital PLC is not a U.S. registered broker-dealer, and therefore, to the extent that it effected any sales of shares of the common stock in the United States, such sales were executed through one or more U.S. registered broker-dealers, which may be affiliates of VTB Capital PLC, to the extent required by applicable U.S. securities laws and regulations. A copy of the prospectus supplement and base prospectus relating to the underwritten public offering of the common stock may be obtained by contacting: Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York, 10010-3629 (800-221-1037), J.P. Morgan Securities LLC, Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (866-803-9204), or UBS Securities LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus Department (888-827-7275, ext. 3884).
UBS Securities LLC was the sole bookrunner and underwriter for the exchangeable notes offering. A copy of the base prospectus and prospectus supplement relating to the underlying common stock being offered in connection with the underwritten public offering of the exchangeable notes may be obtained by contacting UBS Securities LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus Department (888-827-7275, ext. 3884).
A shelf registration statement relating to both the underwritten public offering of common stock and the shares of common stock underlying the exchangeable notes offering was filed by the Company with the Securities and Exchange Commission (the "SEC") on November 29, 2010 and became effective automatically upon such filing. UBS AG has filed a registration statement (including a prospectus, as supplemented by a prospectus supplement for the offering of the exchangeable notes) with the SEC for the offering of the exchangeable notes. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Before you invest, you should read these documents and other documents filed with the SEC for more complete information. You may obtain these documents for free by visiting EDGAR on the SEC's website at http://www.sec.gov.
What started as a friendship between a European business consultant and a Billings businessman has developed into an international partnership. MasterLube has purchased a minor equity position in Oil Partner, a Slovakian company with two quick lube centers in Bratislava and one in Nitra.
The relationship between MasterLube and Oil Partner has only recently become an official business affiliation, but the connection between the two companies has been developing over the last 20 years. It began in the early 90’s when Bill Baker, a business teacher then working in Slovakia, was looking for a company in the U.S. that would be interested in providing internships to some of his students. Baker connected with Milan Cicel, a Slovakian business consultant who was forming a group focused primarily on providing training for entrepreneurs while the Slovakian economy was transitioning from communism. Through Baker’s friendship with a MasterLube employee, the two met Bill Simmons, owner of MasterLube, and began to develop internship opportunities at the Billings quick lube business. Cicel’s group, Integra, soon expanded into supporting and establishing small and medium businesses in Central Europe that have a social impact on their community and later became an essential element in developing what would become Oil Partner.
D.A. Davidson & Co. announced that it has acquired Silver Steep Partners LLC, an investment banking firm specializing in the outdoor and active lifestyle industry. Silver Steep Partners, based in Seattle, is led by Nathan Pund and Robert Farinholt, two senior investment bankers with a strong track record of advising clients, having closed 16 deals in the outdoor and active lifestyle sector over the last few years. Pund and Farinholt will join D.A. Davidson’s existing office in Seattle.
Pund joins D.A. Davidson’s Investment Banking Group as a Managing Director. Prior to co-founding Silver Steep, he worked for RBC Capital Markets, Prudential Securities and Interstate/Johnson Lane. Pund has spent the majority of his career advising branded consumer products companies in an array of public equity, private placement, and mergers and acquisitions assignments generating more than $4 billion in transaction value.
The real estate market for residential homes will likely remain flat for the Billings area in 2011. A fundamental rule of economics is at play: supply exceeds demand, which pushes prices down, pointed out broker, Howard Sumner, who keeps meticulous track of the real estate market.
Flat is good. At least in these economic times when other parts of the country, and even of the state, are suffering severe declines in real estate prices. Other parts of the state and the county suffered an over-building and over-supply. That didn’t happen in Billings, explained Sumner.
Laboratory & Safety Manager at Loveland Products, Inc. (formerly Transbas) in Lockwood has received the Sharp Award from the Occupational Safety and Health Administration (OSHA) a federal agency that monitors the safety of work places.
“Don’t let good enough be good enough,” is the company’s value statement which was adopted early on with the help and leadership of General Manger, Lee Schwalenberg.
The Big Sky Business Journal
P.O. Box 3262
Billings, MT 59103