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Somfy supervisory board approves separation of Somfy Activites and Somfy Participations

Wednesday, 15 Oct 2014 11:40am EDT

Somfy SA:Supervisory Board approves separation of Somfy Activites and Somfy Participations.In first stage on Oct. 29 assets of Somfy Participations will be transferred to Edify, a company created specially for the operation.In second stage there will be exceptional distribution to shareholders of Edify shares or cash.Exceptional distribution will be an Edify share valued at 50 euros or 50 euros gross in cash.Edify will be listed on the Euro MTF market of the Luxembourg stock exchange.

Fiskars to reorganize its businesses in Europe and Asia-Pacific and lay off a maximum of 60 people

Friday, 12 Sep 2014 03:00am EDT

Fiskars Oyj Abp:Says proposed new organization would come into effect as of Dec. 1.Says in the proposed new organization, Fiskars two geographic reporting segments, Europe & Asia-Pacific and Americas, would consist of four business regions.Says the reduction of employees is estimated to total a maximum of 60 people.

Somfy SA proposes demerger of two operating divisions

Thursday, 28 Aug 2014 12:10pm EDT

Somfy SA:Announces that it is to approve in principle the launch of the demerger transaction of Somfy Activities and Somfy Participations.Says the two entities are already independent fro each other and operate in accordance with different business models.Says if the split confirmed, the transaction would be completed in two stages.Says the first would involve the contribution of Smofy Participations' assets, excluding the equity investments in CIAT and FAAC, to a special vehicle incorporated in Luxembourg.Says the second would consist in a distribution of reserves with, at Somfy shareholders' discretion, a payment either in cash or in shares in the new company, which would be floated on the Euro MTF organized market of the Luxembourg Stock Exchange.Says if definitively, approved, the transaction is expected to be completed by the end of the year, with a Shareholders' General Meeting to be held in late Nov. to rule on the distribution, which itself could take place in mid-Dec.

Husqvarna AB launches new organization for forest and garden operations

Friday, 13 Jun 2014 02:30am EDT

Husqvarna AB:Says it will establish new organization for its forest and garden operations.Construction division will continue in current form.New organization will gradually be implemented and fully effective as of Jan. 1, 2015.Forest and garden operations will be organized in three global brand divisions representing three different business models: Husqvarna, Gardena and Consumer Brands.Husqvarna (including Zenoah), which are dealer channel centric brands that have recognition across many different forest and garden product segments, primarily for professionals and demanding consumers, will be headed by Pavel Hajman, who joined the group on June 1.Gardena, which is retail centric brand with recognition in consumer watering segment, will be headed by Sascha Menges, currently Head of Manufacturing and Logistics.Consumer Brands, which includes all other Group brands, such as PoulanPro, McCulloch and Flymo, will be headed by Alan Shaw, currently Head of Americas.Says most operational activities will primarily be organized within the divisions.To secure synergies and strategic alignment across the group a Group Operations division will be established.Group Operations will be headed by Valentin Dahlhaus, currently VP Demand and Supply Chain Management.To further secure synergies and strategic alignment, global staff functions such as Business Development and Technology Office will also be established.

Somfy announces details of plan to split company

Tuesday, 10 Jun 2014 11:45am EDT

Somfy SA:Says its supervisory board declared itself in favor of pursuing project to split company, saying it would improve visibility of Somfy Activites and Somfy Participations.Split could be implemented by means of transfer of some assets of Somfy Participations to company created for this purpose.This company would launch IPO and its shares would be given to Somfy shareholders.Option of offering cash instead of shares to Somfy shareholders is also under consideration.Operation could be implemented before end of year.

CAM Resources Bhd striking-off subsidiary Permatang Kiara Sdn Bhd

Sunday, 11 May 2014 08:00pm EDT

CAM Resources Bhd:Application made to Co's Commission of Malaysia for voluntary striking-off of Permatang Kiara Sdn Bhd, subsidiary.

Fiskars streamlines its boat business

Wednesday, 23 Apr 2014 04:00am EDT

Fiskars Oyj Abp:Streamlines its boat business.Will combine and rationalize functions as well as relocate the boat business from Helsinki to Raisio.Estimates the cost reduction measures to entail a reduction of six employees.

Fiskars to close factories in Italy and cut up to 58 jobs-Reuters

Wednesday, 26 Mar 2014 05:26am EDT

Fiskars Oyj Abp:Fiskars plans to close two knife factories and warehouse in Italy-Reuters.To cut up to 58 jobs due to weak local demand.Italian restructuring is part of savings programme to cut costs by 9 million euros ($12.4 million) to 11 million euros a year.

Sampo to merge with subsidiary

Wednesday, 26 Mar 2014 04:17am EDT

Sampo Corp:To merge with a wholly owned consumer electronics sales subsidiary, with record date April 28.The subsidiary will be dissolved after the merger.


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