BUSINESS NEWS
18 Aug 06. Dell shares fell on Friday after the personal-computer maker reported a 51% decline in profit, though the Nasdaq Composite Index closed higher for the fifth straight day, gaining 5.2% for the week. Shares of Dell lost 64 cents to $22.16 on the Nasdaq Stock Market. In addition to the earnings shortfall, the company said the Securities and Exchange Commission has been investigating its revenue-recognition practices. It also confirmed that it is expanding its partnership with chip maker Advanced Micro Devices, whose stock rose 7.2% Thursday amid speculation of the announcement. AMD declined 27 cents to $23.93 on the New York Stock Exchange Friday after Dell’s earnings. (Source: WSJ)
22 Aug 06. The PLATH GmbH – internationally well-known provider of individual system solutions for radio reconnaissance and surveillance located in Hamburg, Germany – acquired a 30 per cent share of innoSysTec GmbH. In only six years innoSysTec located in Salem has established herself in the market as a specialist for database related information systems, digital recording und evaluation. This acquisition is the next strategic step enhancing the core competencies of PLATH after the foundation of her subsidiary PROCITEC GmbH, Pforzheim, in 1999 – a specialist for digital signal analysis. „Databases represent the core of every information and decision support system“, says Nico Scharfe, President of PLATH. “All relevant information incorporated in the data detected by our highly sensitive sensors has to be edited quickly, because they are the basis for vital decision making e.g. during foreign deployment missions.“ This investment is the logical consequence of the successful cooperation of both companies during the last years and shall contribute to capitalise on the synergy potential of a joint market cultivation. „We dispose of considerable experience from many national projects. For us PLATH is the door toward the international market“, Peter Zerwes, one of the three CEOs of innoSysTec is pleased to say.
18 Aug 06. Fugro N.V. has entered into exclusive discussions with Rovtech Ltd. on the acquisition of the Company. Rovtech Ltd., with its headquarters in Aberdeen, UK, is a provider of ROV (Remotely Operated Vehicle) services to the oil and gas industry, specialised in the IRM (inspection, repair and maintenance) and rig support sector. Rovtech currently operates in the North Sea, the Caspian Sea and in South East Asia. Rovtech’s annual revenue is approximately EUR30m. The company has 120 employees.Fugro indicates that the proposed acquisition of Rovtech will strengthen its global ROV capabilities and will generate synergies with its own network of offices around the world to provide more efficient services to its clients. The acquisition will be financed in cash. Fugro and Rovtech have not yet reached definite agreement on a possible transaction. As soon as circumstances arise which require further announcements, Fugro will make such announcement. (Source: Shephard)
21 Aug 06. Renault to keep Volvo truck stake. Renault said last week that it had no plans to sell or cut its stake of around 20% in world number two truck maker Volvo. ‘We are for now satisfied with our stake in Volvo so therefore there is nothing planned,’ said a Renault spokeswoman. ‘This is an interesting business, not only because dividends are attractive.’ She also said the complementary business cycles are helpful too. (Source: just-auto.com editorial team)
21 Aug 06. Volvo on acquisition trail. The Financial Times reports that Volvo has outlined an acquisition plan to broaden it product range and head off activist investors. The FT says that Volvo’s $2.6bn surplus has attracted ‘mystery’ shareholders who have taken a 4% stake in the firm recently, possibly plotting a takeover or more likely, aiming to pressure the company into giving them some of its cash. The paper quotes Volvo’s boss, Leif Johansson ‘I will make financially discip