Jannock sells brick-making unit to British firm
Article Abstract:
Hanson PLC, a UK-based building materials company, has agreed to pay C$390 million for Jannock Ltd's brick-making business. The deal is expected to close by the end of Jun 1999. Jannock CEO Jay Atkinson said the company decided to sell the highly profitable brick division because it did not have sufficient growth potential. The sale will leave Jannock with its vinyl and metal businesses, while Hanson will get its first brick business in North America.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Philip says restructuring could be announced soon
Article Abstract:
Philip Services Corp CEO Allen Fracassi announced that his firm is about to complete negotiations on a deal which would restructure its $1.1 billion debt. Fracassi says Philip still intends to negotiate a 'prepackaged' bankruptcy in which it would file for bankruptcy protection after it finalizes the restructuring of its debt. Fracassi also indicated that they intend to file for bankruptcy in April and expect the restructuring to be completed by July.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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