Origin is likely candidate for next Philips sell-off

Article Abstract:

Origin, a 89%-owned software and services subsidiary of Philips Electronics NV, is the most likely candidate for Philips next possible divestment. According to analyst Rene Verhoef of Generale Bank, Origin will definitely be sold because it is not one of Philips' core businesses. The sale is unlikely to affect the Philips' earnings forecasts. Earlier, Philips had sold its entertainment group PolyGram NV to Seagram Co. of Canada. Another of Philips' businesses, Medical Systems, is also listed as one of the more probable divestments. Philips is expected to use the cash to reduce debt, buy back shares and possibly invest in its semiconductor division.

Comment:

Is the most likely candidate for Philips next possible divestment

Software Publishers, Applications Software Pkgs (Micro), Applications software, Origin Systems Inc.

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Carlton and Nimbus agree to combine

Article Abstract:

Carlton Communications PLC has agreed to buy Virginia-based Nimbus CD International Inc., an optical disk manufacturer, for around $264 million. Nimbus recorded a pretax profit of $21 million for the year ended Mar. 31, 1998, compared with $14 million in 1997. Carlton, which will offer $11.50 for each outstanding share in Nimbus, plans to expand Nimbus alongside its Technicolor videocassette business. The transaction will allow Technicolor to serve a larger part of the global entertainment market, according to Carlton Chairman Michael Green.

Comment:

Agrees to buy Virginia-based Nimbus CD International Inc, an optical disk manufacturer, for around $264 mil

Acquisitions & mergers, Magnetic and Optical Recording Media Manufacturing, Optical Discs, Services for Movie, TV Production, Postproduction and Other Motion Picture and Video Industries, Carlton Communications PLC, Optical disks (Storage media), Nimbus CD International Inc.

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Rockwell to spin off its chip unit, cut work force by 9%, take charges

Article Abstract:

Rockwell International Corp. is set to spin off Semiconductor Systems Division to shareholders and will reduce its work force by 9%, taking charges totaling $625 million in the second quarter of 1998. The company will be left with its industrial automation and aircraft avionics divisions with the spinoff of a fast-growing but volatile operation moving in a fast-pace industry. The company also announced some problems in the Industrial Automation Division and promised to implement cost-reduction programs in its remaining businesses.

Comment:

To spin off Semiconductor Systems Div to shareholders & will reduce its work force by 9%

All Other Industrial Machinery Manufacturing, Misc Special Industry Equipment, Industrial equipment, Industrial equipment industry, Rockwell Automation Inc., Semiconductor Systems Inc.

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