Abstracts » Business

ICI shares take off

Article Abstract:

Shares in Imperial Chemical Industries (ICI) have risen following reports of changes in strategy and management. The company has reportedly taken on McKinsey to carry out changes in its businesses. There are also press reports that the company's gearing is to be changed, and that the chief executive will hold acquisition talks in Asia. The company argues that the significance of these reports has been exaggerated and the chief executive is merely visiting Asia for a conference and ICI operations there. ICI has also acquired Bunge Paints, which operates in Bolivia, Uruguay, Argentina and Brazil. Similar deals may follow.

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ICI - still looking for the big bang

Article Abstract:

Imperial Chemical Industries (ICI) was one of the largest companies in the United Kingdom until the start of the 1980s, but ranks only 37th in 1998. The company demerged in 1992, and Zeneca, its pharmaceutical business, carried out a stock flotation. The remainder, in ICI, includes tioxide, polyester and explosives. The company moved toward specialty chemicals and away from heavy chemicals in 1997, and this move was well-received by analysts. The company's coatings business is a strength in terms of world market leadership and profit. Briefings for 2nd qtr 1998 have led to a drop in the company's stock price.

Basic Chemical Manufacturing, Specialty Chemicals

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ICI

Article Abstract:

Imperial Chemical Industries (ICI) has seen a rise in its stock price following the announcement that the company was to buy the specialty chemicals activities of Unilever. ICI has undergone major changes and forecasts a reduction in costs of 350 million pounds sterling in 1997. The company has been hit by the rise in value of pound sterling and will have to increase pension fund contibutions due to the end of dividend tax credits. The company has yet to integrate the new Unilever businesses and possible problems have not fully been taken into account in the stock price.

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