25.04.2006
CAT lost $144 mln due to weak Euro
Caterpillar Inc. has reported record first quarter 2006 sales and revenues of $9.392 billion and record first-quarter profit of $840 million, or $1.20 per share. Sales and revenues increased 13% and profit per share was up 48% compared with the first quarter of 2005.
Sales and revenues increased $1.053 billion from the first quarter a year ago. Of the increase, $587 million was from improved price realization, $511 million was due to higher sales volume and $99 million was from higher
11.04.2006
General Motors gets rid of Isuzu
General Motors Corp. said it will sell its 7.9% stake in Japanese truck maker Isuzu Motors Ltd. for $300 million, ending a 35-year equity alliance to raise much-needed cash to revive its ailing business. In a widely expected move, Japanese trading houses Mitsubishi Corp. and Itochu Corp. will each take a 3.5% stake from the U.S. auto giant, while Mizuho Corporate Bank will buy the remaining 0.9%.
The sale of diesel-savvy Isuzu, regarded as GM"s strongest strategic partner in Japan, demonstrates
05.04.2006
Russia: Battle between creditors and “black” raiders
Voronezh Arbitration (Russia), agreed with demands of creditors of OJSC Voronezh Excavator concerning removal of external manager Yuri Tarasov from the bankrupting procedure because of unsatisfying anti-crisis moves he made. Behind Tarasov’s actions creditors see attempts to sell the enterprise part by part in favor of “black” raiders. Removal of arbitral manager may become an unprecedented case for the region. However, the creditors have not yet reached their main target – to change the
09.03.2006
Hino Motors. Battlefield: Canada
Japan’s Hino Motors Ltd. aims to realize a full-scale expansion of its truck business through the establishment of a new plant in Ontario, Canada, for Hino Motors Sales Canada, Ltd. ("HMSC"), a Hino overseas office. The plant, which will will produce trucks exclusively for the North American market, will be its second base in North America for truck assembly following its earlier plant in California, USA. The new plant will initially employ 45 people in the production of 2,000 units per year.
Hino
07.03.2006
Daewoo is preparing for a big sale
The sale price of South Korea"s Daewoo Engineering & Construction has been tipped to surpass $3.5 billion.
The auction of the company is expected to begin next month and there has already been fierce competition from six undisclosed consortia.
The Korea Times reported the price could climb as high as four billion dollars because creditors now plan to divest their entire stake in the company after originally planning only a 72% sale.
Daewoo has been under the management
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