Ads
News service and business centre for materials handlingHOME
/lynad/news_adclick.asp?assid=19786/lynad/news_adclick.asp?assid=19787/lynad/news_adclick.asp?assid=19788/lynad/news_adclick.asp?assid=19789/lynad/news_adclick.asp?assid=19796
Ads
5479

Predator may become prey


Thursday, 10 Apr 2008 ( #355 ) - MELBOURNE, Victoria, Australia
Local News Story
Transport infrastructure group Asciano, once touted as planning an ambitious takeover of Brambles, a company three times its size, has sold its stake in the pallet supplier (Forkliftaction.com News #325).

MD Mark Rowsthorn announced last week that the company’s remaining stake of 48,7 million shares in Brambles had been sold at a disappointing loss.

The company said it expected the impact of the Brambles sale on its 2007/08 full-year results to be a loss of about AUD85 million before tax and funding costs.

The bulk of the proceeds from the share sale would be used to retire a AUD406 million facility to improve the group's overall level of gearing and enhance balance sheet flexibility.

Rowsthorn said the sale will allow Asciano to focus on its core business and pursue growth initiatives within its existing operations.

Meanwhile, a report in WorldCargo News Online this week speculates that Asciano itself may become a target for takeover as a result of losses reported in its first six months of trading and a floundering share price.
Discuss Forkliftaction.com News stories in the Discussion Forums!
 
x
©Forkliftaction.com
Forkliftaction Media Pty Ltd
PO Box 1439
Milton QLD 4064
Australia
Contact Forkliftaction.com
About Forkliftaction
The Forkliftaction Team
Privacy Policy
Site Map
Help
Business Directory
Discussion Forums
Industry News
Events Calendar
Jobs & Resumes
Photo Galleries
Blog articles
Our Bloggers

Industry Brands
Company Index
Regions & Countries
Machinery-onQ.com

Advertise on Forkliftaction
Editorial Features / Calendar
Featured Businesses
Past News Editions
Industry Associations
Storing your login information automatically.

When you select the 'Remember me' option, your login information will be stored on your computer in the form of a cookie. When you visit Forkliftaction.com again, the stored login information will be retrieved automatically and you will not have to submit your login parameters (email address and password) each time you want to visit our members-only pages.

A cookie is a small piece of data that is sent to your browser from a web server and stored on your computer's hard drive. A cookie can't read data off your hard disk or read cookie files created by other sites. Cookies do not damage your system.

x