Investment News Offshore account

CommScope, Inc., a provider of infrastructure solutions for communications networks, Wednesday announced its plans to discontinue operations at its Connectivity Solutions Manufacturing, Inc. subsidiary in Omaha, Nebraska. The company said it will relocate the facility’s manufacturing to one or more existing CommScope facilities in North America.

Lighting fixtures maker Acuity Brands, Inc. (AYI) reported Wednesday a 46% year-over-year drop in profit for the second quarter, hurt by charges as well as a decline in sales due to significant fall in construction activity on lower economic activity and tight lending standards for real estate. However, adjusted earnings per share from continuing operations came in above analysts’ expectations by a penny. The company also warned about the continuing difficult and challenging economic environment for reminder of the year, particularly for non-residential construction activity.

Mining and metals company Rio Tinto Plc (RIO.L, RTP, RTPPF.PK) on Wednesday confirmed the satisfaction of conditions precedent to investment agreement with the Mongolian government for Oyu Tolgoi copper-gold complex development in Mongolia’s South Gobi region. Rio Tinto noted that the investment deal has currently taken full and binding effect.