Daewoo Split Predicted To Add Value

Wednesday, March 15, 2000
The splitting of Daewoo Heavy Industries into three firms should boost shareholder value, analysts said. The companies will eventually benefit from the split, analysts said, calling it a "painful but inevitable choice." Analysts said the shipbuilding and machinery units would be reborn as clean companies, while Daewoo Heavy Industries Co. would become a paper company, shouldering most of the company's debts. However, they said, Daewoo Heavy will eventually be liquidated in four or five years once it settles its internal debt issues. A shareholders meeting approved a plan to split the company into Daewoo Shipbuilding and Marine Engineering Co, machinery maker Daewoo Heavy Industries and Machinery Ltd., with Daewoo Heavy Industries Co taking the remaining operations.

Offshore

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0674 sec (15 req/sec)