Loewen mulls selling firm to boost share value

Article Abstract:

Loewen Group Inc., the third largest funeral service company in North America, is contemplating selling the company to improve the value of its shares, which experienced an 18-percent decline on Jul. 22, 1998, and prompted a halt in trading of the stock on the Toronto Stock Exchange. The company was once a target for acquisition by Service Corp. in 1996, but Loewen CEO Ray Loewen vowed he would never divest the firm. However, the dramatic event in the stock trading caused a change in direction in Loewen, which attributed its lackluster performance to lower death rates, lower prepaid cemetery sales and unexpected costs in its operations.

Comment:

Is contemplating selling company to improve value of its shares, which experienced 18-percent decline on 7/22/98

Canada, Funeral Homes and Funeral Services, Funeral Services, Funeral industry, Loewen Group Inc.

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Noranda Forest to sell mill

Article Abstract:

Noranda Forest Inc. of Toronto, Ontario, has reached an agreement to sell its newsprint mill in Masson-Angers, Quebec, to Papier Masson Ltee, a newly formed company with Houston, TX-based Enron Corp. reportedly one of its investors. Terms of the deal were not disclosed, but a source estimated the deal's value at C$150 million. By selling the mill, Noranda intended to reduce its debt and focus on its main competencies in manufacturing building materials, pulp and different types of papers. The mill churned out 210,000 tonnes of newsprint in 1997.

Comment:

Reaches an agreement to sell its newsprint mill in Masson-Angers, Quebec, to Papier Masson Ltee

Quebec, Newsprint, Newsprint Mills, Noranda Forest Inc.

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