Nordic paper firms gird for tough times
Article Abstract:
Paper and pulp manufacturers in Scandinavia are bracing for difficult times ahead as industry analysts predict that a slow down in worldwide economy is likely to result in a significant drop in sales for the industry in Europe in the next two years. Analysts also warned that forestry products of Asian manufacturers, which could not be sold in the region nor in the US, would enter the European market and lead to an oversupply. Despite the dire forecast, the three leading pulp and paper manufacturers, Metsae Serla Oy of Finland, Svenska Cellulosa AB and MoDo AB, both of Sweden, posted double-digit gains in their pre-tax profits in the first nine months of 1998.
Comment:
Paper & pulp manufacturers are bracing for difficult times ahead as industry analysts predict that slow down in demand
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Barnevik sets about task of preserving Wallenberg empire
Article Abstract:
ABB Asea Brown Boveri Ltd. head Percy Barnevik receives much worldwide praise for his work with the engineering firm which he transformed into a global titan via acquisitions and cost-cutting. Barnevik, who is also known for his willingness to go against the grain, once peeved the Swedish establishment by moving to Zurich, Switz, and implemented controversial layoffs. Nevertheless, the son of a print-shop operator from western Sweden managed to please investors and ABB stock even climbed. He is even dubbed Europe's best manager by Rob Friedman, a portfolio manager at Michael Price's Franklin Mutual Advisers.
Comment:
Head Percy Barnevik receives much worldwide praise for his work with the engineering firm
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Volkswagen presses makeover with talks to buy Lamborghini
Article Abstract:
Volkswagen AG's (VW) Audi division is currently in negotiations to acquire Automobili Lamborghini SpA. The discussions concerning the acquisition of Lamborghini again emphasizes VW Chairman Ferdinand Piech's intention of transforming the image of the company into one that produces high-end automobiles. VW, which has already purchased Rolls-Royce Motor Cars, wants to acquire Lamborghini although majority shareholder Hutomo Mandala Putra has stated that he has not intention of selling his stake in the firm. Analysts state that Lamborghini's acquisition price may be between $85 million to $145 million.
Comment:
Its Audi division is currently in discussions to acquire Automobili Lamborghini SpA
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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