Endesa chief gets charge out of revamp

Article Abstract:

Endesa SA CEO Rafael Miranda is implementing a 370-billion-pesetas reorganization program for the company in the coming years to realize strong profit growth in the largest electric utility in Spain, notwithstanding the financial crisis in Latin America and the declining electricity rates in Spain. The reorganization would involve the reduction of the company's units from 300 to 100 to allow the streamlining of its management. Endesa, which expects to see a 17% increase in net profit in 1999, will cut operating and financial expenses by 35% or 120 billion pesetas from 1998 to 2002.

Comment:

Is implementing 370-billion-pesetas reorganization program to realize strong profit growth

Electric Utilities, Electric Power Generation, Transmission and Distribution, Endesa S.A.

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Spain's Zara cuts a dash by creating 'fashion on demand.'

Article Abstract:

Grupo Zara SA, the largest ready-to-wear clothes manufacturer and distributor based in Spain, has become one of the most successful retailers in Europe with its attitude of creating fashion on demand. Zara now offers up-to-date fashion at reasonable prices mainly fueled by its low-cost production and twice-a-week deliveries. Fashion available at low-cost is fast becoming the trend in Europe as companies such as Benetton, Hennes & Mauritz and Zara compete over local markets with that strategy. At present, the company employs 10,890 people and operates 623 stores in 14 nations.

Comment:

Has become one of most successful retailers in Europe with its attitude of creating fashion on demand

Apparel & Shoe Stores, Clothing and Clothing Accessories Stores, Apparel & Related Products, Apparel Manufacturing, Grupo Zara S.A.

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Repsol to sell units to get nod for YPF takeover

Article Abstract:

Repsol SA announced that it is planning to sell a refinery and up to 800 Argentinian gas stations. The selling off of facilities is an attempt by Repsol to win regulatory approval in Argentina for its proposed acquisition of YPF SA. Alfonso Cortina, the chairman of Repsol, told the government of Argentina that the company is planning to merge the entirety of its assets in Latin America into YPF providing it acquires the oil and gas company.

Comment:

Repsol to sell refinery and 800 Argentinian gas stations to win approval for takeover of YPF

Foreign operations, Petroleum, Petroleum and Coal Products Manufacturing, Argentina, Oil & Gas Field Services, Support Activities for Mining, Planning, Petroleum industry, Abstract, Petroleum services industry, Repsol YPF S.A. (Madrid, Spain), YPF S.A.

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