AU CANADA, LES POLICIERS VONT UTILISER LES RÉSEAUX SOCIAUX POUR PRÉDIRE LES DISPARITIONS AVANT QU’ELLES NE SE PRODUISENT

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  January 16, 2019 | Local, Naval

  Seaspan Announces Closing of Second $500 Million Investment by Fairfax Financial Holdings Limited

  HONG KONG, Jan. 15, 2019 /CNW/ - Seaspan Corporation (NYSE: SSW) ("Seaspan") announced today the closing of the second tranche of the $1 billion aggregate investment commitment by Fairfax Financial Holdings Limited and its affiliates (collectively, "Fairfax") in Seaspan. As with Fairfax's initial $500 million investment in Seaspan, and pursuant to definitive agreements entered into on March 13, 2018 and announced on March 14, 2018, this second tranche of funding (the "Second Fairfax Investment") is structured as a $250 million issuance of (i) 5.50% senior notes due 2026 and (ii) approximately 38.46 million warrants (the "2019 Warrants"). Pursuant to a definitive agreement entered into and announced on May 31, 2018, Fairfax has agreed to immediately exercise the 2019 Warrants at an exercise price of $6.50per warrant, for additional equity proceeds to Seaspan of $250 million. As a result, Seaspan's aggregate proceeds from the Second Fairfax Investment will be $500 million. This brings Fairfax's total investment in Seaspan to $1 billion, the proceeds of which will be used to fund future growth initiatives, repay debt and for general corporate purposes. With the closing of the Second Fairfax Investment, Fairfax's aggregate shareholdings in Seaspan are 76.9 million Class A common shares or approximately 36% of shares outstanding. Fairfax continues to hold the 25 million seven year warrants, with an exercise price of $8.05, which were issued to it on July 16, 2018. Summary of Fairfax Investments1 Investment Date Issued/Exercised Proceeds to Seaspan 2025 Notes February 14, 2018 $250 million 2018 Warrants July 16, 2018 $250 million 2026 Notes January 15, 2019 $250 million 2019 Warrants January 15, 2019 $250 million 1 Does not include the 25 million seven year warrants outstanding as of the date hereof David Sokol, Chairman of Seaspan Corporation commented, "The closing of this follow-on Fairfax investment bolsters Seaspan's balance sheet for the future. Seaspan's management team and Board of Directors are proud to continue building upon the strong partnership created with Fairfax. This additional investment will enhance Seaspan's ability to execute on our long-term goals of deleveraging, strengthening our balance sheet, and creating value through disciplined and thoughtful capital allocation." Prem Watsa, Chairman and Chief Executive Officer of Fairfax said, "With the closing of this investment, we are excited to expand our partnership with Seaspan, which now represents one of Fairfax's largest investments." About Seaspan Seaspan is a leading independent charter owner and operator of containerships with industry leading ship management services. We charter our vessels primarily pursuant to long-term, fixed-rate, time charters to the world's largest container shipping liners. Seaspan's operating fleet consists of 112 containerships with a total capacity of more than 900,000 TEU, an average age of approximately 6 years and an average remaining lease period of approximately 4 years, on a TEU-weighted basis. Seaspan has the following securities listed on The New York Stock Exchange: Symbol: Description: SSW Class A common shares SSW PR D Series D preferred shares SSW PR E Series E preferred shares SSW PR G Series G preferred shares SSW PR H Series H preferred shares SSW PR I Series I preferred shares SSWN 6.375% senior unsecured notes due 2019 SSWA 7.125% senior unsecured notes due 2027 SSW25 5.500% senior notes due 2025 About Fairfax Financial Holdings Limited Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Investor Inquiries: Mr. Matt Borys Investor Relations Seaspan Corporation Tel. +1-778-328-5340 Email: mborys@seaspanltd.ca SOURCE Seaspan Corporation https://www.newswire.ca/news-releases/seaspan-announces-closing-of-second-500-million-investment-by-fairfax-financial-holdings-limited-848167000.html

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  December 7, 2018 | Local, Aerospace

  Airbus reports strong progress in generating FWSAR work in Canada

  Airbus reports it is on track to provide Canadian industry with the required level of high-value work associated with the fixed-wing search and rescue (FWSAR) aircraft replacement in-service support (ISS) program. In its first FWSAR Value Proposition ISS annual report to the Government of Canada, submitted earlier this year and covering 2017, the company declared that more than 80 per cent of the ISS work was already being performed by Canadian industry in Canada. That data has now been validated and accepted by Canada. The activity, led by Airbus and its Canadian ISS integration partner AirPro – a joint venture with PAL Aerospace – is rapidly generating work and employment at partners such as CAE and Accenture. AirPro itself has already recruited nearly 20 highly qualified full-time staff to work on FWSAR ISS, and is adding resources in fields such as aeronautical engineering, architecture, construction, information technology and project management. More than 125,000 Canadian labour hours of work were performed by five companies in 2017 and the figure will grow more rapidly as many other companies begin their supply roles further into the program. The AirPro activity in particular will markedly increase as the Airbus CC-295 aircraft enters service and day-to-day ISS activities such as maintenance begin. Simon Jacques, president of Airbus Defence and Space in Canada, said: “We are proud of having made such a successful start to the development and transfer of capability to Canada with all the associated high value work that it brings. Ensuring an active role for AirPro in this set-up phase will ensure that it has a solid preparation for its ISS role in the operational phase. And this new expertise has the potential to be reused in other Canadian programs.” Canada's Industrial and Technological Benefits (ITB) Policy applies to the FWSAR contract and ensures that the total value of the contract is leveraged resulting in high-value jobs in the Canadian economy. The FWSAR program is supporting some $2.5 billion in Industrial and Technological Benefits to Canada, through high-value, long-term partnerships with Canadian industry. “The work done in Canada as part of the fixed-wing search and rescue project demonstrates the tangible benefits of our Industrial and Technological Benefits Policy for Canadian industry,” said the Honourable Navdeep Bains, minister of Innovation, Science and Economic Development. “This project will provide the Canadian Armed Forces with the equipment and services they need to keep Canada safe, and the Industrial and Technological Benefits Policy ensures Canadians have access to middle-class jobs, growing our economy along the way.” https://www.skiesmag.com/press-releases/airbus-reports-strong-progress-in-generating-fwsar-work-in-canada

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  January 11, 2021 | Local, Naval

  Government of Canada awards contract for inspection, repair and overhaul of service boats

  NEWS PROVIDED BY Public Services and Procurement Canada Jan 08, 2021, 14:11 ET GATINEAU, QC, Jan. 8, 2021 /CNW/ - Through the National Shipbuilding Strategy, the Government of Canada is committed to providing members of the Canadian Armed Forces (CAF) with safe and effective vessels required to protect Canadian sovereignty, while creating jobs and generating economic benefits for communities across Canada. Following an open and competitive process, Public Services and Procurement Canada, on behalf of National Defence, has awarded a $16.5-million contract to Zodiac Hurricane Technologies Inc., from Delta, British Columbia, for inspection, repair and overhaul work, on an as-required basis, on inflatable rubber boats and rigid (hull) inflatable boats. Inflatable boats provide a critical operational capability to all elements of the CAF. They are used to support a wide range of missions, including search and rescue, dive support, fishery patrols, boarding party operations, and the transfer of personnel and equipment. The essential maintenance and support services provided by this contract will ensure the CAF's fleet of inflatable boats remains capable of meeting current and future operational demands. This contract was awarded under the repair, refit and maintenance component of the National Shipbuilding Strategy, which provides economic opportunities for shipyards and suppliers across Canada. The contract will help create or maintain up to 23 jobs. Quotes "The Government of Canada remains firmly committed to the National Shipbuilding Strategy, and we are working hard to ensure that it continues to deliver important benefits for Canada. The strategy continues to provide meaningful opportunities for the Canadian marine industry, generating jobs and opportunities from coast to coast to coast." The Honourable Anita Anand Minister of Public Services and Procurement "The Canadian Armed Forces fleet of inflatable boats increases our reach and effectiveness during a wide range of operations at home and abroad. This contract will provide critical maintenance and support services to ensure our members remain well equipped to do the important job we ask of them, including emergency evacuations and transportation of personnel and equipment, while also investing in Canada's growing marine industry." The Honourable Harjit S. Sajjan Minister of National Defence "Canada's growing marine industry plays an important role in protecting Canadians and supporting Canadian workers. This investment, under the Government of Canada's National Shipbuilding Strategy, will help the hard-working members of the Canadian Armed Forces do their job, while also creating jobs in Delta." The Honourable Carla Qualtrough Minister of Employment, Workforce Development and Disability Inclusion Quick facts Work under this contract is expected to run from January 1, 2021, to December 31, 2023, with options to extend the contract up to three years. Work will also include tests and trials, disposal, storage, shipping and transport, as well as field maintenance and engineering support. The scope of work will be on an as-required basis, depending on the condition of the boats throughout their serviceable life. This contract will support the CAF's current fleet of inflatable rubber boats and rigid (hull) inflatable boats, the CAF's future dive boats, the Canadian Army's 12-man assault boats, and the new multi-role boats being acquired by the Royal Canadian Navy. National Defence currently operates a fleet of approximately 1,000 inflatable rubber boats and 260 rigid (hull) inflatable boats. Since the launch of the National Shipbuilding Strategy, approximately $7.95 billion in contracts has been awarded under the repair, refit and maintenance pillar of the strategy. Associated links National Shipbuilding Strategy Royal Canadian Navy Follow us on Twitter Follow us on Facebook SOURCE Public Services and Procurement Canada For further information: Cecely Roy, Press Secretary, Office of the Honourable Anita Anand, 343-549-7293, cecely.roy@canada.ca; Media Relations, Public Services and Procurement Canada, 819-420-5501, media@pwgsc-tpsgc.gc.ca Related Links www.tpsgc-pwgsc.gc.ca https://www.newswire.ca/news-releases/government-of-canada-awards-contract-for-inspection-repair-and-overhaul-of-service-boats-841786125.html