BABCOCK & wILCOX SALE PROGRESSES

Article Abstract:

Spain's privatization agency Sociedad Espanola de Participaciones Estatales (SEPI) is taking a fresh look at the future of its heavy equipment and engineering group Babcock & Wilcox (B&W) that it was hoping to clear from its portfolio of state assets before the summer. McDermott of the US and Germany's Steinmuller were shortlisted in May as potential buyers of B&W, but both have asked for an extension before submitting their definitive offers. Neither company has presented SEPI with a viable business plan for B&W, a pre-requisite the agency requires of all bidders for state assets. Steinmuller reportedly wants to follow the Bilbao-based company's progress at least until October in order to ascertain a more accurate estimate of its likely losses for the year.

United States, Heavy construction, not elsewhere classified, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Germany, Spain, Industrial Nonbldg Constructn, Fabricated plate work (boiler shops), Fabricated Platework, Plate Work Manufacturing, Construction industry, Heavy construction, Mergers, acquisitions and divestments, Industrial construction, Metal products industry, Metalworking industry, Platework, Babcock and Wilcox Co., McDermott Inc., L. und C. Steinmuller GmbH

---

HK airport seeks financing

Article Abstract:

The UK and China have agreed on arrangement to help fund a new airport for Hong Kong, scheduled for completion for Apr 1998. A railroad link is also planned to be completed in Jul 1998. An agreement between the two countries was signed in Jun 1995. The agreement had to be reached before the summer recess of Hong Kong's legislative Council. Work has already begun on the airport, funded in part from government sources, though some work has not yet been paid for.

Finance, Hong Kong, Transportation policy

---

Polish cargo airport finds investor

Article Abstract:

Deutsche Aerospace will participate in the construction of a cargo airport in Krzywa, south west of Warsaw in Poland. Deutsche Aerospace already has 10% of Krzywa, the company which is managing the site and building the airport. The cargo airport will mean that Krzywa could become one of the largest European cargo centres.

Planning, Contracts, DaimlerChrysler Aerospace AG, Krzywa

Similar abstracts:

• Abstracts: Seagull Pewter takes flight. Constant Kraving
• Abstracts: Come fly with me. No pain, no gain. Landed, at last: Taiwan signs deal to build civilian jet
• Abstracts: Asia: Myanmar's mysterious boom. More repression on Myanmar. Not quite Indonesia: Myanmar
• Abstracts: Chile looks to sale of Tocopilla. Polish government underwrites IPOs. Dutch to privatise their largest pension fund

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.