The Daily Deal articles from July 2001, page 6

The Daily Deal archives from July 2001

EU to review in detail Usinor-Arbed-Aceralia deal.(Brief Article)
July 19, 2001... European Union regulators plan to open a detailed investigation today into the three-way steel deal among France's Usinor SA, Luxembourg's Arbed SA and Spain's Aceralia Siderurgica SA to create the sector's largest company, NewCo. The...

Expeditus.(receives Consulta Ltd. funding)(Brief Article)
July 19, 2001... London-based investment firm Consulta Ltd. provided [pound]1.5 million ($2.1 million) in funding to launch U.K. startup Expeditus. The new company provides an Internet trading platform for courier agencies to trade spare capacity, thereby...

FiberLead.(receives funding from Ohio Innovation Fund)(Brief Article)
July 19, 2001... Cleveland-based FiberLead Inc., a startup that designs, manufactures and sells fiber arrays for fiber-optical communications, announced Wednesday it has raised an undisclosed amount in Series A financing from the Ohio Innovation Fund, a...

Inergy.(changes price of initial public offering)(Brief Article)
July 19, 2001... Kansas City, Mo.-based Inergy LP changed the price range on its upcoming initial public offering to $20.50 to $22.50 per share from $20 to $22 per share. Inergy will sell 1.6 million shares, for a total offering size estimated as high as $36...

Innovation Group to take slumping MTW for $83M.(Brief Article)
July 19, 2001... U.K. software company The Innovation Group plc said Wednesday that MTW Corp. agreed to a takeover at the lower price of [pound]59.5 million ($83.4 million) after slumping stock markets prompted the U.K. company to renegotiate the deal....

Italy's Enel identifies three bidders for Elettrogen.(Brief Article)
July 19, 2001... Italian state electricity group Enel SpA said Wednesday that three groups have advanced to the next round of bidding for power generation company Elettrogen. They are: Montedison SpA energy units Edison and Sondel; a consortium of Endesa SA,...

Legg Mason buying Royce.(Royce & Associates In)(Brief Article)
July 19, 2001... Baltimore investment bank Legg Mason Inc. said Wednesday it agreed to pay $115 million to take control of Royce & Associates Inc., a New York mutual fund specialist. Legg Mason said the purchase price, half of which could be paid in Legg...

LogicVision.(Brief Article)
July 19, 2001... San Jose, Calif.-based LogicVision Inc. lowered the price range of its IPO to $9 to $11 per share from $10 to $12 per share. The company will issue 4.5 million shares for its estimated $49.5 million offering. LogicVision makes products for...

Mandoforms.(Brief Article)
July 19, 2001... Manchester, England-based Mandoforms secured [pound]1 million ($1.4 million) in a funding round led by venture capital company 3i plc. It's the second time 3i has put money into the firm, following a seed investment in March 1998. Mandoforms...

Mirror Worlds.(Brief Article)
July 19, 2001... Information management technology company Mirror Worlds Technologies of New York and New Haven, Conn., has tapped $6.5 million in Series B financing led by Millennium 3 Opportunity Fund llc of Roseland, N.J. Previous investors Abacus &...

Newgistics.(Brief Article)
July 19, 2001... Austin, Texas-based Newgistics Inc. raised $16.5 million in a second round venture investment from Austin Ventures, Spiegel-Hermes General Service llc, R.R. Donnelley & Sons Co. and AV Labs. The new money will advance the company's nationwide...

PAE sells Tanzanian power project.(Brief Article)
July 19, 2001... PAE Mauritius Ltd., a joint venture of PanAfrican Energy Corp. of St. Helier, Jersey, and the African Infrastructure Fund, said Wednesday it had agreed to sell its interest in the Songas power plant project in Tanzania to Arlington, Va.,...

Spinal Concepts.(Brief Article)
July 19, 2001... Austin, Texas-based Spinal Concepts Inc. has closed the first part of its Series E round of funding with $16.25 million in the bank, the Austin Business Journal reported. Investors include HLM Management Co., Richland Ventures and KBL Health...

TeraChip.(Brief Article)
July 19, 2001... Lod, Israel-based TeraChip has raised $4.5 million in its first round of financing. The round was led by Benchmark Capital, which earlier this year launched an Israel-based fund. Benchmark put up $4 million, and private investors put up...

Texaco joins $150M battery venture.(Brief Article)
July 19, 2001... Texaco Inc. and Energy Conversion Devices Inc., a Troy, Mich., battery maker, said Wednesday they have formed a joint venture in which they will spend more than $150 million to produce batteries used to power hybrid and electric vehicles. The...

Venture Economics.(Brief Article)(Statistical Data Included)
July 19, 2001... Investors in U.S. venture funds saw the value of their portfolios drop about 8.9% during the first three months of this year, according to data released Wednesday from Venture Economics and the National Venture Capital Association. When...

Vykor.(Brief Article)
July 19, 2001... Seattle-based Vykor, a developer of enterprise manufacturing software, said Wednesday it garnered $2.3 million in a seed funding from Northwest Venture Associates, Amicus llc and other undisclosed investors. Established in 2000 by a group of...

bTrade.(Brief Article)
July 19, 2001... Data management technology provider bTrade Inc. of Irving, Texas, has tapped $11.2 million in third-round funding led by Hunt Capital Group, PrimeZone Media reported. Existing investors First Analysis Venture Capital and Shawmut Capital...

Easyriders runs out of gas.(magazine publisher Easyriders Inc.)(Brief Article)
July 18, 2001... Byline: Jonathan Berke Macho magazine publisher Easyriders Inc. filed for Chapter 11 bankruptcy protection late Tuesday, yet company executives say they will prepare shortly for another run at profitability. Easyriders, whose...

Surgeons back Dow Corning plan.(Brief Article)
July 18, 2001... Byline: Terry Brennan The official committee of 5,000 plastic surgeons who performed breast augmentation surgery with gel-filled breast inplants is finally endorsing Dow Corning Corp.'s reorganization plan. The committee, which...

itemus in dire straits.(Brief Article)
July 18, 2001... Byline: David Ehrlich Canadian Internet consultant itemus Inc. on July 18 said that its recently acquired Shooting Gallery division likely will file for bankruptcy. In a statement, Toronto-based itemus said it has not been able to...

Prime Group Realty turns to K Capital.(Prime Group Realty Trust)(K Capital Partners)(Brief Article)
July 18, 2001... Byline: Jonathan Berke A Boston hedge fund may hold the key to saving Prime Group Realty Trust Chairman Michael Reschke's stake in a Chicago real estate investment trust. K Capital Partners llc, which has a 13.35% stake in Prime, is...

Goldman Sachs out of IPO shadows.(Brief Article)
July 18, 2001... Byline: Heidi Nasr This may be remembered as the week in which Goldman, Sachs & Co. is getting into initial public offerings. The blue-chip bank, which has been laying low when it comes to IPOs, is one of the co-leads on the $1.6...

Rabble Babble.(Column)
July 18, 2001... Byline: Stacy Mosher The news never rests, and nowhere is it busier than on the Internet bulletin boards. This column excerpts the choicest messages on the latest deals. Postings are selected from several sources, including Yahoo!,...

UTC to spend $1B on deals this year.(United Technologies Corp. )(Brief Article)
July 18, 2001... Byline: Kevin DeGeeter Despite slower acquisition spending in the second quarter, conglomerate United Technologies Corp. expects to spend at least $1 billion this year on acquisitions. But David FitzPatrick, CFO of the Hartford,...

Goldman Sachs near buy of Nitto Kogyo.(Brief Article)
July 18, 2001... Byline: Charles Smith TOKYO -- Japan's largest golf club operator, Nitto Kogyo Co., will announce its choice of a foreign buyer for all 30 of its clubs by the end of the month, a spokesman said Wednesday. The Nihon Keizai Shimbun...

UBS consortium buys Korean confectioner.(Haitai Confectionary Co)(Brief Article)
July 18, 2001... Byline: Michael Baker SEOUL -- A consortium led by UBS Capital has signed a contract to buy Haitai Confectionary Co.'s food business, ending the South Korean company's three-year workout program, according to a local report July 18. ...

Mexican railroad moves on $170M buyout.(Transportacion Ferroviaria Mexicana)(Grupo TFM)(Brief Article)
July 18, 2001... Byline: Greg Johnson Armed with improved credit ratings from Standard & Poor's and Moody's Investors Service, Mexican rail carrier Transportacion Ferroviaria Mexicana SA de CV said Wednesday it is proceeding with a $170 million buyout of...

Czechs expect $2B from telecom sale.(Cesky Telecom A.S.)(Brief Article)
July 18, 2001... Byline: Brian Cattell LONDON -- The Czech government said Wednesday it expected to sell a 51% stake in incumbent phone operator Cesky Telecom a.s. for about Kcs80 billion ($2.04 billion), roughly 40% more than the current market value of...

France says it won't sell Credit Lyonnais.(Brief Article)
July 18, 2001... Byline: Alan Tillier PARIS -- The French government, entangled in a many-sided tug-of-war over its stake in Credit Lyonnais SA and facing elections, said Wednesday a sale of its 10% holding in the country's third-largest bank probably...

Plan to save Sabena may avoid EU.(Sabena Belgian World Airlines)(European Union)(Brief Article)
July 18, 2001... Byline: Victorya Hong BRUSSELS -- A revised bailout plan announced late Tuesday by Swissair Group and the Belgian government for its ailing flagship airline Sabena could allow them to avoid a run-in with European Union regulators. ...

EU to decide on probe of Montedison bid.(Brief Article)(Statistical Data Included)
July 18, 2001... Byline: Victorya Hong in Brussels BRUSSELS -- European Union regulators are working against a fast-nearing deadline to determine whether they have jurisdiction over the controversial, [Euro]5.4 billion ($4.6 billion) hostile offer led by...

US Air vows revamp if UAL deal dies.(US Airways Group)(Brief Article)
July 18, 2001... Byline: Charles Sisk WASHINGTON -- US Airways Group Inc.'s top executive promised July 18 to restructure the airline if it fails to complete its $12.3 billion merger with UAL Corp. Separately, a top UAL official said further...

American Securities Capital closes $650M fund.(American Securities Capital Partners)(Brief Article)
July 18, 2001... Byline: David Carey American Securities Capital Partners, a New York private equity firm, wrapped its third investment fund, a $650 million vehicle that topped the firm's money-raising target by $150 million. Michael Fisch, the...

Coke wins Philippine soda company.(Cosmos Bottling Corp.)(Brief Article)
July 18, 2001... Byline: Soma Biswas Coca-Cola Co. defeated PepsiCo Inc. in the battle over a down-market maker of soft drinks in the Philippines in a deal worth about $300 million. RFM Corp., a Philippine food and beverage company, sold its 85%...

East is Eden for Warburg Pincus.(Interview)
July 18, 2001... Byline: David Carey For three decades Warburg Pincus llc has been a groundbreaking power in private equity. The firm's launch in 1969 predated the formation even of such pioneers as Thomas H. Lee Co. and Kohlberg Kravis Roberts & Co....

Accel, KKR form telecom venture.(Brief Article)
July 18, 2001... Byline: Kelly Holman The attempt to marry private equity with venture capital continues. The first time around Silicon Valley VC Accel Partners joined with New York buyout giant Kohlberg Kravis Roberts & Co. to invest in the Web. ...

DeRemate raises $10.5M.(Brief Article)
July 18, 2001... Byline: Ivan Castano DeRemate.com, a Spanish and Portuguese auction site, has raised $10.5 million in a series C round of funding from previous backer Merrill Lynch & Co. and possibly from other investors, a source familiar with the...

Scimagix snaps up $25M in funding.
July 18, 2001... Byline: Lou Whiteman A California company that is applying digital image search technology to biotech research has raised $25 million to help sell its product. Scimagix Inc. of Redwood Shores claims to be the first company to offer...

Auctioneer DeRemate.com wins $10.5M.(Brief Article)
July 18, 2001... Byline: Ivan Castano DeRemate.com, Latin America's answer to eBay, has raised $10.5 million as part of a Series C round of funding, it said July 18. Previous backer Merrill Lynch Global Emerging Markets Partners LP led the round....

Newgistics grabs $16.5M round.
July 18, 2001... Byline: Clifford Carlsen Texas startup Newgistics Inc. landed $16.5 million in second-round funding and a solid endorsement of its refocusing on the catalog industry as it advances a nationwide system for product returns. The deal...

CalPERS PE head targets Europe, hedge funds.(California Public Employees' Retirement System)(Brief Article)
July 18, 2001... Byline: Katherine Goncharoff The California Public Employees' Retirement System's new private equity officer, Richard J. Hayes, told journalists in a 45-minute telephone chat July 18 that venture capital activity in Europe and hedge...

Alchemy Migration Services.(Brief Article)
July 18, 2001... Two-year-old software company Alchemy Migration Services raised [pound]3 million ($4.2 million) from Lloyds TSB Development Capital in its second funding round. The London-based firm makes software which enables companies to transfer data...

Apprise Technologies.(Brief Article)
July 18, 2001... Duluth, Minn.-based Apprise Technologies Inc., a maker of optical sensors that gauge water and air purity, secured $500,000 in a private placement that could end up topping out at as much as $1.5 million, the Twin Cities Business Journal...

Bergana Communications.(Brief Article)
July 18, 2001... Wireless technology developer Bergana Communications Inc. of Minnetonka, Minn., has drawn nearly $500,000 through a private stock offering as it seeks to build a chip that can handle high-speed wireless data transmissions, the Twin Cities...

BuySeasons.(Brief Article)
July 18, 2001... New York-based Newtek Capital Inc., which acquires, develops and operates early-stage high-growth businesses, said Tuesday it will invest $300,000 in BuySeasons Inc., a Waukesha, Wis., Internet retailer of seasonal merchandise. Newtek made...

Canacure.(Brief Article)
July 18, 2001... Canadian venture firm Innovatech Grand Montreal is investing $750,000 as part of a $2 million round financing for health sciences company Canacure Corp. of Montreal. The fresh cash will fuel the company's research, development and marketing...

Chell Group is buying Logicorp.(Brief Article)
July 18, 2001... Toronto turnaround specialist Chell Group Corp. said Tuesday it has agreed to pay $8 million in cash and stock to acquire the Logicorp Group of Cos., an Edmonton, Alberta, provider of information technology services. Logicorp would be...

CineGroupe.(Brief Article)
July 18, 2001... Montreal-based animation production company CineGroupe Corp. has secured C$14 million ($9.1 million) in financing from an affiliate of Societe generale de financement du Quebec, a provincial government-backed entity. The company will use the...

Conectiv holders OK $2.2B acquisition by Pepco.(Brief Article)
July 18, 2001... Wilmington, Del., electric utility Conectiv Inc. said Tuesday its shareholders approved its proposed $2.2 billion purchase by Potomac Electric Power Co., or Pepco, of Washington, D.C. Pepco stockholders are scheduled to vote Wednesday. State...

Cordiant takes Japan's IBI Inc.(Brief Article)
July 18, 2001... Cordiant Communications Group is looking to expand in Asia. The London marketing and advertising agency said Tuesday it has acquired 92.6% of Tokyo communications consultancy International Business Information Inc. for [pound]7.5 million...

Critical Therapeutics.(Brief Article)
July 18, 2001... Biotechnology startup Critical Therapeutics Inc. of Cambridge, Mass., has received a $10 million injection of Series A funding co-led by MPM Capital and HealthCare Ventures. The money will be used to advance the company's lead products into...

Detto Technologies.(Brief Article)
July 18, 2001... Data transfer technology provider Detto Technologies of Bellevue, Wash., has landed $3 million in Series B financing to boost product development and hiring initiatives as well as provide working capital. New York-based venture capital group...

Duke Int'l hikes Egenor stake.(Brief Article)
July 18, 2001... Duke Energy International, a unit of Duke Energy Corp., raised its controlling stake in Empresa de Generacion NorPeru SA, or Egenor, from 90% to 99% via a purchase of 113.5 million or 95.84% of the company's common B shares in a public...

EluSys Therapeutics.(Brief Article)
July 18, 2001... Pine Brook, N.J.-based EluSys Therapeutics Inc., a biopharmaceutical company focused on the discovery and development of therapeutic agents to combat infectious diseases, viruses and toxins, received $17 million in a third round of venture...

Hello-Tech.
July 18, 2001... Ramat Gan, Israel-based Hello-Tech Ltd. has completed a first round of financing in which it raised $1.1 million. No valuation was disclosed. The funds came from private European-based investors who weren't disclosed. Hello-Tech, founded in...

Hicks Muse helps out Home Interiors.
July 18, 2001... Hicks, Muse, Tate & Furst has moved to assist ailing Home Interiors & Gifts Inc. In January, the Dallas buyout firm invested about $50 million in discounted subordinated notes in Home Interiors, a Hicks Muse portfolio company. Since then, the...

Honeywell and GE waive merger restrictions.(Brief Article)
July 18, 2001... Honeywell International Inc. and General Electric Co. announced Tuesday they have agreed to waive some restrictions under their proposed $42 billion merger agreement. Both companies have granted a consent allowing them to take action that...

Iceni Biodiscovery.
July 18, 2001... Basel, Switzerland-based Novartis Venture Fund, Over, England-based Prelude Trust plc and Cambridge, England-based Avlar Bio Ventures Ltd. invested [pound]1 million ($1.4 million) each in a [pound]3 million first round of funding for Iceni...

Inxight.(Brief Article)
July 18, 2001... Content management software provider Inxight Software Inc. of Santa Clara, Calif., has pulled in $24 million in Series B financing led by DB eVentures, a Deutsche Bank global private equity investor. Proceeds will be used for company growth...

Isochron.(Brief Article)
July 18, 2001... Equipment management technology developer Isochron Data Corp. of Austin, Texas, has lassoed a $1.5 million line of credit from the Emerging Growth Division of Imperial Bank. The fresh funds are expected to fuel business growth. The company's...

PerpetualLink.(Brief Article)
July 18, 2001... Engelwood Cliffs, N.J.-based Perpetual Link Inc., a provider of a remote group communications software platform for use by Internet service providers, says that Pitango Venture Capital has taken a stake as lead investor in the company....

Pilots press US Airways to abandon UAL deal.(Air Line Pilots Association)(Brief Article)
July 18, 2001... The pilots union at US Airways Group Inc. urged chairman Stephen Wolf and chief executive Rakesh Gangwal to abandon the merger with UAL Corp. and commit themselves to making the company more competitive. Chicago-based UAL, the parent company...

ProactiveNet.(Brief Article)
July 18, 2001... Alviso, Calif.-based ProactiveNet Inc. raised $15 million in a new venture round, which was led by Wit Soundview Ventures and included Sun Microsystems. The new funding brings the total capitalization to $50 million. The new investors joined...

Prolinx.(Brief Article)
July 18, 2001... Bothell, Wash.-based Prolinx Inc., a maker of tools and systems used in bioresearch and biotechnology, brought in $16.8 million in an equity financing round from new investors the Stephens Group and Wheatley Partners, as well as return...

Proxima Systems.(Brief Article)
July 18, 2001... Montreal-based Proxima Systems Ltd., a developer of customer care and billing software, announced Tuesday it raised $9.7 million from CDP Capital Communications and Fonds de solidarite FTQ. This is the first tranche of $16.2 million sought by...

Revlon completes sale of Colorama brand to L'Oreal.(Brief Article)
July 18, 2001... New York cosmetics giant Revlon Inc. said Tuesday it has completed the $56 million sale of Colorama cosmetics and hair care products to the L'Oreal Group. Included in the deal was Revlon's manufacturing plant in Sao Paulo. Revlon's Colorama...

Rio Narcea buying copper project.(Atlantic Copper SA)(Brief Article)
July 18, 2001... Rio Narcea Gold Mines Ltd., an Asturias, Spain, mining company, said Tuesday it will exercise an option to buy the Aguablanca nickel-copper-platinum group metals project from Spain's Atlantic Copper SA for about $4 million. Rio Narcea said...

Special Devices sells 2 buildings.(W.P. Carey and Company L.L.C.)(Brief Article)
July 18, 2001... Special Devices Inc. said Tuesday that it sold two of its buildings to W.P. Carey & Co llc for $37.7 million in cash in a sales-leaseback transaction. After the closes, Special Devices will lease the facilities from W.P. Carey for 20 years...

State Street grabs Gartmore unit.(Gartmore Investments Management Ltd.)(Brief Article)
July 18, 2001... State Street Global Advisers agreed to buy the index fund management business of Gartmore Investment Management plc for an undisclosed sum, the companies said Tuesday. State Street, the money management arm of Boston-based State Street Corp.,...

SupplyChainge.(finance)(Brief Article)
July 18, 2001... Portland, Ore.-based SupplyChainge Inc. has secured $2 million in seed round funding from TSG Equity of Boston and other private investors. Launched in Fall 2000, SupplyChainge makes software that helps improve lifecycle management of retail...

Tyco, C.R. Bard receive second request.(Federal Trade Commission)(Brief Article)
July 18, 2001... Murray Hill, N.J.-based medical products maker C.R. Bard Inc. said Tuesday it has received a second request from the U.S. Federal Trade Commission for information regarding its $3.2 billion merger with Tyco International Ltd., a conglomerate...

Video Domain.(Brief Article)
July 18, 2001... Tel Aviv-based Video Domain has completed a second round of financing in which it raised $3 million at a valuation of $18 million. The sole investor in the round was Puma 2 Venture Capital, the Israeli unit of Britain's Shore Capital. The...

Sterling Chemicals goes bankrupt.(Sterling Chemicals Holdings Inc.)(Brief Article)
July 17, 2001... Byline: Kelly Holman Sterling Chemicals Holdings Inc., a Houston chemical company owned by a host of private equity firms, has filed for Chapter 11 bankruptcy protection. It announced the filing with the U.S. Bankruptcy Court for the...

Questor details Schwinn bankruptcy plan.(Questor Partners Fund)(Brief Article)
July 17, 2001... Byline: Katie Anderson Bankrupt bicycle maker Schwinn/GT Corp. and its parent, private equity firm Questor Partners Fund, revealed July 17 that Schwinn filed for Chapter 11 bankruptcy protection Monday to facilitate the sale of its...

Chase leads in Comdisco bankruptcy.(Chase Manhattan Bank)(Brief Article)
July 17, 2001... Byline: Danny Fortson SAN FRANCISCO -- Banks top the list of bankrupt Comdisco Inc.'s biggest creditors. According to the bankruptcy petition by the Chicago-based information technology company, which Monday asked for Chapter 11...

Israeli law firm's debut blocked.(Brief Article)
July 17, 2001... Byline: Neal Sandler in Tel Aviv TEL AVIV -- American lawyers have mused for years about the possibility of taking one of New York's big law firms public. But it fell to an Israeli firm to try to take the first steps toward a listing....

SNT acquires KPN assets.(Brief Article)
July 17, 2001... Byline: Brian Cattell LONDON -- Dutch customer-relationship management provider SNT NV said July 17 it agreed to acquire the CRM assets of telecom KPN NV and of French financial software company Atos Origin SA. Under the terms of the...

Nestle looks for EU approval of Ralston deal.(Ralston Purina)(European Union)(Brief Article)(Statistical Data Included)
July 17, 2001... Byline: Victorya Hong in Brussels European Union regulators this week will be considering whether to approve Nestle SA's proposed $10.3 billion acquisition of pet-food maker Ralston Purina Co., after reviewing rivals' assessments of the...

Sovereign buys Main Street Bancorp.(Sovereign Bancorp)(Brief Article)
July 17, 2001... Byline: Greg Johnson Sovereign Bancorp Inc., Pennsylvania's third-largest bank, said July 17 it would acquire Main Street Bancorp Inc., the Reading, Pa.-based holding company of Main Street Bank, in a transaction valued at about $170...

Magazine consolidation quickens.(Brief Article)
July 17, 2001... Byline: Peter Lauria The advertising recession's thumping of the magazine industry highlighted a wave of increased merger and acquisition activity for media companies in the second quarter, according to newly issued reports by media...

Baltimore Tech denies takeover talks.(Chantilley Corp.)(Baltimore Technology PLC)(Brief Article)
July 17, 2001... Byline: Siobhan Almond DUBLIN -- Internet security firm Baltimore Technologies plc on Tuesday scotched talk of an imminent takeover, causing shares in the embattled Dublin-based firm to drop as much as 29% on the day. In a statement...

Rabble Babble.(postings from Internet bulletin boards)(Brief Article)
July 17, 2001... Byline: Stacy Mosher The news never rests, and nowhere is it busier than on the Internet bulletin boards. This column excerpts the choicest messages on the latest deals. Postings are selected from several sources, including Yahoo!,...

Germany, EU agree on subsidy phase-out.(European Union)(abolishing support of state-owned banks)(Brief Article)
July 17, 2001... Byline: Victorya Hong in Brussels BRUSSELS -- Following a breakthrough meeting Tuesday with European Union regulators, Germany agreed to the outlines of a compromise plan that would gradually abolish the government's support of the...