Engelhard's renewed lease on life

Article Abstract:

Engelhard is taking advantage of its alternative minimum tax (AMT) status to run a global leasing program for new equipment. The Iselin, NJ-based specialty chemical and precious metals refining company initiated leasing arrangements for various equipment such as automobiles, railcars, computers, mining equipment and heavy trucks as a means to finance growth without resorting to equity or debt. The strategy has been successful so far, as reflected in the estimated $1 million in savings realized by Engelhard from leasing more than $100 million worth of equipment.

All Other Basic Inorganic Chemical Manufacturing, Industrial inorganic chemicals, not elsewhere classified, Inorganic Chemicals NEC, Management, Cover Story, Contracts, Chemical industry, Industrial equipment leases, Engelhard Corp., EC, Minimum tax, Inorganic compounds

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Rental relief

Article Abstract:

Nomura International has made an agreed bid for Thorn through the Principal Finance Group of Nomura. Thorn has seen a drop in its stock price following its demerger from EMI in Aug 1996. Nomura has acquired a number of companies seen as strong cash generators, which have cash flows that can be securitized. Thorn is seen as a good candidate for securitization. Nomura aims for Thorn's management to carry on running the company. PDFM, which holds 19% of Thorn, has given the takeover provisional backing.

Equipment rental & leasing, not elsewhere classified, Radio & TV Set Leasing & Rental, Consumer Electronics and Appliances Rental, Nomura International, Electronic equipment rental, Thorn PLC

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Sheriff rides off

Article Abstract:

Ashtead will acquire Sheriff Holdings following a recommendation by Sheriff's board and a majority vote by the company's stockholders. The all-paper deal is valued at some 39 million pounds sterling, and the price appears fair for both companies. Ashtead aims to make 2 million pounds worth of savings from reducing the cost of shared administration. Ashtead local depots have autonomy which the company says permits them to accept low offers for equipment instead of leaving it unleased.

Ashtead Group PLC, Sheriff Holdings PLC

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