Aluminum
Alcoa Inc To Shut Italian Plant-DJ
Dow Jones reported that Alcoa Inc plans to permanently close its Fusina aluminum smelter in Italy and book a charge of up to $35 million for the move in order to cut capacity amid sluggish demand. The smelter in Venice, which has been largely idle since June 2010, has a capacity of 44,000 metric tons, out of a company total of 4.2 million. Alcoa has an additional 460,000 metric tons of smelting capacity under review. The Fusina facility employs 14 people. The company said it will work with unions to provide social support. The move will result in restructuring charges of about three cents a share, after taxes, in the second quarter.
Orbite Aluminae Inc Announces Terms Of Previously Announced Equity Financing
Orbite Aluminae Inc announced that it has fixed the terms of its previously announced best efforts marketed offering of units consisting of class A shares and warrants of Orbite with its syndicate of agents led by Euro Pacific Canada Inc. and including National Bank Financial Inc. The Corporation has reached its financing objectives as it anticipates raising minimum gross proceeds of CAD35 Million and maximum gross proceeds of CAD50 Million, at a price of CAD0.70 per unit, each unit consisting of one class A share and one-half class A share purchase warrant, each whole warrant being exercisable at an exercise price of CAD1.00 for a period of 36 months following issuance (the Units). In addition, the Corporation has granted the Agents the option to purchase up to that number of additional Units as is equal to 15% of the number of Units issued under the Offering during the 30-day period immediately following the Closing Date to cover over-allotments and for market stabilization purposes (the Over-Allotment Option). The net proceeds from the Offering will be used primarily to complete the Corporation's high-purity alumina plant located in Cap-Chat, Quebec and for general corporate and working capital purposes.
R&I Moves Furukawa-Sky Aluminum Corp from Rating Monitor and Downgrades Rating on Furukawa-Sky Aluminum Corp to "BBB"; Rating Outlook Stable
Rating and Investment Information, Inc. (R&I) announced that it has moved Furukawa-Sky Aluminum Corp from the rating monitor, and downgraded the rating on the Company from "BBB+" to "BBB". The rating outlook is stable.
Guangdong Golden Horse Tourism Group Stock Co Ltd Announces Takeover Bid Launched by Shenhua Guoneng Energy Group Corporation Limited
Guangdong Golden Horse Tourism Group Stock Co Ltd announced that Shenhua Guoneng Energy Group Corporation Limited has proposed a takeover bid for 212,177,804 shares (a 21.03% stake) or at least 110,507,699 shares of the Company, at RMB 13.46 per share or up to RMB 2,855,913,200 in total, during the period from June 19, 2013 to July 18, 2013. Shenhua Guoneng Energy Group is holding a 78.97% stake in the Company. As a result, the Company may be delisted from stock exchange.
Sankyo Tateyama Inc Raises Full-year Consolidated Outlook for FY 2013
Sankyo Tateyama Inc announced that it has raised its full-year consolidated outlook for revenue from JPY 271,000 million to JPY 271,500 million, operating profit from JPY 10,000 million to JPY 12,000 million, ordinary profit from JPY 9,300 million to JPY 11,000 million, net profit from JPY 8,200 million to JPY 11,500 million, and earnings per share from JPY 260.76 to JPY 365.73, for the fiscal year ended May 31, 2013. The Company raised its full-year consolidated outlook mainly due to the estimated smooth performance and accounting of deferred tax assets. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 271,000 million, operating profit of JPY 10,300 million and net profit of JPY 8,500 million, for the same fiscal year.
Sankyo Tateyama Inc to Pay Year-end Dividend for FY 2013
Sankyo Tateyama Inc announced that it will pay a year-end dividend of JPY 30.00 per share (JPY 20.00 per share for a common dividend and JPY 10.00 per share for a bonus dividend), or JPY 946 million in total, above the latest dividend forecast of JPY 20.00 per share, to all the shareholders as a record of May 31, 2013, effective August 28, 2013.
Arab Aluminum co SAE Declares Cash Dividend for FY 2012
Arab Aluminum co SAE announced that its Board of Directors has declared the distribution of EGP 3.00 per share for the fiscal year ending December 31, 2012, with payment date July 11, 2013.
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+246.24Analyst Research
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