Hoechst, Rhone-Poulenc congfirms talks on affiliate

Article Abstract:

Hoechst and Rhone-Poulenc have reached an agreement to jointly form a new company. Once formed, the new company is expected to be valued at $36 billion. Both companies have yet to draw up concrete plans for the stakes in companies they jointly own with other partners. Hoechst and Schering jointly own agrochemical company Agrevo. Rhone-Poulenc, meanwhile, has a stake in a joint venture with Merck & Co. Union leaders expressed opposition, saying the possible merger could result in job cuts.

Germany, France, Rhone-Poulenc S.A., Hoechst AG

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Asahi downgrades its 1998 forecast for sales, earnings

Article Abstract:

Asahi Breweries Ltd. has downgraded its 1998 sales and earnings. The Japanese beer maker now predicts a group net profit of 500 million yen ($4.1 million), a pretax profit of 52.4 billion yen and sales of 1.37 trillion yen. The forecast figures were pulled down by the sale of its stake in Torii Pharmaceutical Co., whose sales were expected to be 39 billion yen in the current fiscal year. Weaker sales were another factor that resulted in a downward revision.

Japan, Asset sales & divestitures, Sales, profits & dividends, Breweries, Forecasts, trends, outlooks, Malt beverages, Beer & Ale, Finance, Brewing industry, Asahi Breweries Ltd., Torii Pharmaceutical Company Ltd.

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