L'Arbed toujours pr te/

Article Abstract:

Arbed produced 10.2mn tons of gross steel in the first six months of 1998, 4mn tons more than in the same year-earlier period. The Luxembourg-based group's consolidated turnover surged to LFr 221.9bn (LFr 127.9mn) while the net profit reached LFr 5.7bn from LFr 1.8bn in the first half of 1997. The figures include the Spanish subsidiary Aceralia. In Southeastern Asia, Russia and Eastern Europe, there is a dumping phenomenon due to the lower consumption. Arbed did well in America in the first half of 1998, and more than compensated for the regions in crisis. Regarding its Belgian colleague, Cockerill Sambre, Arbed intends to maintain its partnership even though the French steel group Usinor might take over Cockerill. Arbed renounced to take over Cockerill.

Comment:

Arbed intends to maintain partnership with this co even though French steel group Usinor might take over co

Belgium, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Strategic alliances, Luxembourg, Arbed S.A., Cockerill Sambre S.A.

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Fortis renonce son offre sur AMMB

Article Abstract:

Having received authorisation from the Malaysian Central Bank on 17 July 1998 to begin negotiations for the take over of 15% of the Malaysian financial group, AMMB Holdings, Fortis has decided not to go ahead with the plan. The Belgian bank and insurance group stated that the clients of AMMB did not match its strategic direction regarding the start-up of a banking and insurance branch in Asia.

Comment:

Decides not to go ahead w/ plan to take over of 15% of the Malaysian financial group, AMMB Holdings

Commercial Banks, Commercial Banking, Acquisitions & mergers, Malaysia, Fortis

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