MANUFACTURING

Chinese Company's Impending Control of L.B. Terminal Prompts Concern

U.S. regulators have reportedly raised concerns about China-based Cosco Shipping taking control of a container terminal at the Port of Long Beach as part of its $6.3 billion acquisition of another shipping line, the Wall Street Journal reported on April 20.

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New CEO at Mattel Inc.

Toymaker Mattel Inc. announced April 19 that its chief executive officer, Margo Georgiadis, is leaving the company to take up the top executive position at Ancestry, a consumer genomics company.

Ares Energy Fund Buys Majority Stake in N.J. Solar Firm

Ares Energy Infrastructure Fund, a unit at Century City-based private equity firm Ares Management, has acquired a majority stake in Conti Solar of Edison, N.J, the parties announced April 17.

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PierPass Switches to Appointments and Flat Fees for Shipping Cargo Pickups

PierPass Inc., a not-for-profit organization created by terminal operators at the Port of Los Angeles and Port of Long Beach, is replacing its pricing model and implementing an appointment-based system for container pickups, the entity announced on April 16.

So Cal Ports Report Cargo Movement for Q1

The number of cargo containers moved in the first quarter of 2018 was similar at the Port of Los Angeles and the Port of Long Beach but compared to the same period last year, one port set a record while the other saw a decline.

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Breitburn Energy Exits Bankruptcy With New Name: Maverick

Downtown oil company Breitburn Energy Partners said late April 12 that it has emerged from its two-year bankruptcy and has renamed itself Maverick Natural Resources.

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California Resources Corp. Buys Remaining Stake in Natural Gas Oil Field

California Resources Corp. has acquired the remaining surface and mineral rights to California’s largest natural gas-producing oil field from Chevron Corp., the company announced April 9. CRC shares rose $2.41, or around 13 percent, on April 10 to close at $20.47 on the New York Stock Exchange.

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SolarReserve Inks 20-Year Deal for South Africa Solar Plant

A consortium led by Santa Monica-based SolarReserve Inc. has signed a 20-year agreement with South Africa’s public electric utility company, Eskom, to supply power from a planned solar thermal power plant.

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Jamison’s Jaime Lee Named to L.A. Harbor Commissioner Board

Jaime Lee, the chief executive officer of Jamison Realty Inc., a major player in Koreatown real estate, has been named to the Los Angeles Board of Harbor Commissioners by Los Angeles Mayor Eric Garcetti.

PPC Partners Acquires Texas Food Manufacturer C.H. Guenther & Son Inc.

A subsidiary of Pritzker Group Private Capital has stepped into the food industry with the acquisition of a mid-sized manufacturer of grain-based and seasoning products based in San Antonio, Texas, the investment firm announced April 4.

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Port of Los Angeles to Get a $130M Container Staging Hub

Project will be able to handle 3,500 daily truckloads

Macquarie Principal Finance, a subsidiary of the Australia-based financial services firm Macquarie, has agreed with the Harbor Performance Enhancement Center, a public-private partnership, to provide funds for the $130 million development of a 5.5 million-square-foot container staging hub on Terminal Island at the Port of Los Angeles.

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Paramount Refinery Sold as Part of $72 Million Deal

A renewable diesel and jet fuel refinery in Paramount has been sold to Boston-based biofuel producer World Energy as part of a deal reportedly worth $72 million.

Jakks Pacific Evaluating Acquisition Offer

Jakks Pacific Inc. is working with Bank of America Merrill Lynch and outside legal advisor Skadden, Arps, Slate, Meagher & Flom to review a recent acquisition offer and begin negotiations.

MGA’s Larian, Investors Pledge $200M in Crowdfunding Kickoff to Buy Toys R Us

Isaac Larian, chief executive of Van Nuys toy manufacturer MGA Entertainment Inc., has along with unnamed investors pledged $200 million to an online public crowdfunding campaign he created to save Toy R Us out of bankruptcy.

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La Brea Bakery Parent Closing Vernon Plant, Laying Off 109

The parent company of La Brea Bakery Café is closing a distribution plant in Vernon in late April and laying off 109 employees, according to a notice the company filed with the state.

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