Asian turmoil hits AssiDomaen's profit

Article Abstract:

AssiDomaen AB's 1998 second-quarter pre-tax earnings fell 26% to 371 million kronor compared to the 499 million it reported for the same period in 1997 due to the effect of the Asian financial crisis. The Swedish forestry firm cited the decline in the demand for paper products in Asia that has forced manufacturers to offer their products at discounted rates as the main reason for the company's reduced earnings. AssiDomaen projected that the Asian turmoil will continue to affects its operations until the end of 1998.

Comment:

Its 1998 2nd-quarter pre-tax earnings fell 26% to 371 mil kronor compared to the 499 mil it reported for the same period in 1997

Sales, profits & dividends, Paper, Paper Mills, Paper industry, Article, AssiDomaen AB (Sweden)

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Skandia agrees to talks as Old Mutual tally rises

Article Abstract:

Skandia AB of Sweden is talking to Old Mutual PLC of the United Kingdom although a bid offered by the British investment company was considered hostile because it was too low. Old Mutual PLC offered 43.60 Kronor a share, giving the Swedish insurance company a valuation of 44.9 billion Kronor ($5.64 billion).

United Kingdom, Acquisitions & mergers, Financial management, South Africa, Investment Offices, Investment Companies, Open-End Investment Funds, Investment Funds & Trusts, INSURANCE CARRIERS, Capital funds & cash flow, Mergers, acquisitions and divestments, Company acquisition/merger, Insurance industry, Valuation, Investor relations, Company Profile, Skandia AB, Old Mutual PLC

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