Johnson Matthey gets nice surprise from metals' rise

Article Abstract:

Johnson Matthey PLC's strategy not to sell futures and options of market derivatives to hedge against possible price tumbles paid off as it received a windfall from the boom in palladium, rhodium and platinum prices. Analysts had considered the decision risky since the firm, which markets, refines and holds a stockpile of metals, is expected to be susceptible to the volatile market. However, executives estimate the current value of Johnson Matthey's stockpile of platinum and sister metals to have climbed by 29% to 90 million lira from 70 million lira in September 1997.

Comment:

Received a windfall from the boom in palladium, rhodium and platinum prices

United Kingdom, Johnson Matthey PLC, Article

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Preussag looks to sell stakes

Article Abstract:

Preussag AG's chairman Michael Frenzel said that the company does not consider its recently acquisition of a 30% share in Deutsche Babcock AG, along with its remaining 50% share in the HDW shipyard, an investment for the long-term. Mr. Frenzel said that the negotiations for the sale of HDW should be completed within the next few months. Mr. Frenzel would not say when Preussag would sell its stake in Deutsche Babcock.

Comment:

Seeking to sell shares in Deutsche Babcock and HDW shipyard

Strategy & planning, Planning, Abstract

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Preussag's sales seen at 10.4 billion euros in the first half

Article Abstract:

Preussag AG forecasted strong sales for the 2001 first-half period. The company is expecting to post approximately 10.4 billion euros in sales for the period.

Forecasts and trends

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