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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tufton Oceanic Assets Limited | LSE:SHIP | London | Ordinary Share | GG00BDFC1649 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 0.44% | 1.13 | 1.12 | 1.14 | 1.13 | 1.125 | 1.13 | 208,035 | 12:34:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | -33.95M | -2.47M | -0.0084 | -107.74 | 266.78M |
Date | Subject | Author | Discuss |
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17/5/2004 19:19 | PARIS (AFX) - Alstom SA's creditor banks are likely to approve the rescue plan discussed today between the European Commission and the French finance ministry, to save the troubled engineering group, a banking source said. paris@afxnews.com fol/sr/jlw | ariane | |
17/5/2004 15:38 | PARIS (AFX) - The rescue plan for troubled engineering company Alstom SA discussed between the European Commission and the French finance ministry involves "targeted disposals" and will not break up the company, an EU source close to the matter said. The plan will not close down the company's Belfort site, the source added. Earlier EU competition commissioner Mario Monti said there is "the basis for an agreement this week" on the French government's planned bailout package for the company. paris@afxnews.com od/sr/jlw | ariane | |
17/5/2004 15:00 | (Updates with quotes from Sarkozy) BRUSSELS (AFX) - EU competition commissioner Mario Monti said there is "the basis for an agreement this week" on the French government's planned bailout package for Alstom. "We are very close to an accord on the undertakings of the French government regarding Alstom, which should be finalised by the end of this week," Monti said after meeting with French finance minister Nicolas Sarkozy. Such an agreement "would enable me to propose a positive decision" to the rest of the European Commission, he said. Sarkozy said: "From the moment that the commissioner says there is the basis for an agreement that means there will, conditionally, be satisfaction on both sides: the commission, which has done its duty with respect to its principles, and France, which has committed itself to ensuring the survival of this large industrial group, Alstom." aud-dt/far/phr/vm/wf | ariane | |
17/5/2004 08:03 | FRANKFURT (AFX) - ThyssenKrupp AG said it signed a letter of intent with One Equity Partners (OEP) to merge ThyssenKrupp Werften with Howaldtswerke-Deutsc Werft (HDW) in a 240 mln eur deal. OEP will receive 240 mln eur in cash and a 25 pct stake in the new shipbuilding group controlled by ThyssenKrupp. The German steel conglomerate will hold 75 pct. Such a move could be a prelude to the creation of a European shipyard giant along the lines of defence giant EADS, earlier press reports said, particularly as France's Thales SA and state-owned DCN are also in tie-up talks. amk/vs | ariane | |
17/5/2004 08:02 | FRANKFURT (AFX) - ThyssenKrupp AG said it signed a letter of intent with One Equity Partners (OEP) to merge ThyssenKrupp Werften with Howaldtswerke-Deutsc Werft (HDW) in a 240 mln eur deal. OEP will receive 240 mln eur in cash and a 25 pct stake in the new shipbuilding group controlled by ThyssenKrupp. The German steel conglomerate will hold 75 pct. Such a move could be a prelude to the creation of a European shipyard giant along the lines of defence giant EADS, earlier press reports said, particularly as France's Thales SA and state-owned DCN are also in tie-up talks. amk/vs | ariane | |
15/5/2004 16:12 | LONDON, May 14 (New Ratings) - Analysts at Deutsche Bank downgrade Alstom (ticker: AOM ) from "buy" to "hold." The target price has been reduced from €2.5 to €1.2. Shares of Alstom, a provider of technologically advanced products and systems for the world’s energy and transport infrastructure, are currently trading at €1.2. According to Deutsche Bank's research note published this morning, Alstom is expected to significantly restructure the company in the near term. The downgrade in rating is based on the limited visibility into the restructuring process, which may include a change in Alstom’s debt-equity mix and the disposal of certain divisions of the company. The restructuring programme may be driven by certain requirements from the company's lending banks and the European Commission, the analysts add. Deutsche Bank expects the associated uncertainties to raise concern among equity investors and the company's clients. Alstom is scheduled to report its full year results on May 26, with sales and pre-tax losses of €17 billion and €0.95 billion, respectively. The EPS estimates for 2003, 2004 and 2005 are -€2.02, -€0.22 and -€0.02, respectively. | ariane | |
14/5/2004 16:44 | Among second-liners, Alstom gained 0.02 to 1.17, halting the steady losses over previous sessions, following a report that Finance Minister Nicolas Sarkozy has proposed asset sales in order to secure EU Commission approval of another financial restructuring for the engineering group. This afternoon, Sarkozy maintained that he is "convinced" a solution for Alstom will be found, and he is expected to meet with Competition Commissioner Mario Monti again next week. paris@afxnews.com js/cmr | grupo guitarlumber | |
14/5/2004 14:52 | LONDON, May 14 (New Ratings) – Analyst Ben Uglow of Morgan Stanley maintains his "overweight" rating on Alstom (AOM.FSE). The target price is set to €2.60. In a research note published this morning, the analyst mentions that Alstom is expected to form an industrial partnership with Areva, Siemens or both the companies. The concerns surrounding the partnership’s negative implications for the company’s shareholders is unjustified, the analyst believes. Morgan Stanley expects the EC to modify the current bond package and call for a private sector solution. | grupo guitarlumber | |
14/5/2004 14:12 | Alstom and DOE to develop hybrid combustion-gasificat 14 May 2004 - Alstom announced that it is participating in a U.S. Department of Energy (DOE) project to develop and verify a novel hybrid combustion-gasificat Alstom will develop the hybrid combustion-gasificat Alstom has completed engineering studies and bench-scale tests on the chemical looping process and determined that this process has the potential to meet ultra-clean low emissions targets, including CO2 capture, at a cost and efficiency that is about the same as today's power plants. Project participants include U.S. DOE, Alstom, Parsons Energy & Chemical Group, Inc., ABB Lummus Global, Inc., and PEMM Corporation. Pilot-scale process testing is now underway at Alstom's Power Plant Laboratories research complex in Windsor, Connecticut, USA. The DOE's Office of Fossil Energy, which will oversee the research, has set goals for advanced power systems to have near-zero emissions, fuel flexibility, high-value products, high process efficiency, and cost competitiveness. The continued use of fossil fuel based energy must be matched by combining energy availability at reasonable prices with increasingly clean environmental performance throughout the energy life cycle of production, conversion, and end-use. The chemical looping process components can be configured alternately as a combustion-based steam power plant with or without CO2 capture or as a hybrid combustion-gasificat Funding for the $4m program is partially provided by a grant by the U.S. Department of Energy under Instrument Number DE-FC26-03NT41866. Alstom is committed to developing chemical looping technology for fossil fuel based power generation and is providing significant co-funding to the project. | grupo guitarlumber | |
14/5/2004 07:22 | Chirac supports Alstom 'partners' By Martin Arnold in Paris Published: May 14 2004 5:00 | Last Updated: May 14 2004 5:00 Jacques Chirac, the French president, yesterday sought to play down the awkward relations between France and Germany over industrial policy by declaring himself in favour of "partnerships" for stricken engineering group Alstom. The French government and the European Commission are still negotiating a long-term solution to the financial crisis at Alstom, but Mr Chirac said: "France is in favour of all partnerships [for Alstom] as long as they are balanced." Speaking after a Franco-German summit with Chancellor Gerhard Schröder in Paris yesterday, Mr Chirac said: "The [Alstom] decision is neither French nor German. It is also largely the responsibility of Brussels." Mr Chirac's comments may have been aimed at repairing the damage to Franco-German relations caused by his government's intervention to encourage the merger of Sanofi-Synthélabo, the Paris-based pharmaceuticals group, with Aventis, its Franco-German rival, to create a French champion. France's conduct in the Sanofi-Aventis bid battle appears to have sparked a change in the German government's industrial strategy, with greater emphasis on the creation of national champions. The French government is pushing for a Franco-French solution for Alstom, allowing the stricken engineering group to remain intact through a debt-for-equity swap by the state and banks and an injection of fresh capital, likely to come from Areva, the state-controlled nuclear energy group. However, Areva is fiercely opposed to this and has teamed up with Siemens of Germany to propose an alternative restructuring plan. This would involve partnerships between Areva and Alstom in transport, including the high-speed TGV trains, and between Siemens and Alstom in energy. Mr Schröder has repeatedly called for pan-European national champions in recent days, and his government is understood to be giving enthusiastic backing to the Siemens-Areva project. But this goes against the objectives of Nicholas Sarkozy, French finance minister, who is opposed to a break-up of Alstom. A finance ministry official said yesterday Mr Sarkozy had "not closed the door on any options" but was "still seeking a Franco-French solution". | grupo guitarlumber | |
13/5/2004 13:39 | PARIS (AFX) - President Jacques Chirac said that the government is favorable to any partnership deals for Alstom SA as long as the partnership on offer was "well-balanced". Siemens AG has voiced its interest in the struggling engineering group, but comments from finance minister Nicolas Sarkozy recently have suggested that a deal for Alstom with other French companies might be favoured. Speaking after meeting here with German Chancellor Gerhard Schroeder, Chirac said that "France is favourable to any partnership, as long as they are well-balanced". vl/sst/jad/lam | grupo guitarlumber | |
13/5/2004 12:46 | BRUSSELS (AFX) - The European Commission confirmed today that it is closer to a deal with the French finance ministry over the future of Alstom. Yesterday French finance minister Nicolas Sarkozy met with EU competition commissioner Mario Monti. Sarkozy told reporters following the meeting that the meeting was "constructive" and that they are closer to resolving their differences on a bailout plan. Competition spokesman for the commission Tilman Lueder confirmed this morning that the EU also believes a deal is closer. "Mr Sarkozy's summary reflects the outcome of the meeting yesterday," said Lueder. Lueder said there will be a follow-up meeting, most likely on Monday morning. He said: "We need to continue the discussions and we will see on Monday how far we are (from an agreement)." Sarkozy met Monti yesterday in a bid to hammer out a rescue plan for beleagured engineering group Alstom that will be in line with EU competition law. The French government has submitted a 3.2 bln eur rescue plan for Alstom that would combine assistance from the state and private banks. However, the scheme needs approval from the commission. A decision is expected at the end of June. emma.davis@afxnews.c ed/jkm/ | grupo guitarlumber | |
12/5/2004 22:04 | PARIS (AFX) - The European Commisssion will require Alstom to sell further activities or agree to equity tie-ups with other players in return for approval of the 3.2 bln eur bailout plan agreed last year, Les Echos reported. It said according to several sources EU competition commissioner Mario Monti wants Alstom to double its disposals programme either by selling stakes in its principal transport and energy activities to other players or selling them outright. French Finance Minister Nicolas Sarkozy is to hold a second round of talks on the subject today with Monti. According to business daily Les Echos, Alstom and the government are currently studying a plan for a fresh capital hike of up to 3 bln eur which would guarantee Alstom's existence for two more years at least. Under the plan, which would require the backing of Alstom's banks, the state would swap some of Alstom's debt for equity in the company. The paper said in order to win the backing of the banks, the government would in addition need to convince state-owned nuclear group Areva to take a stake in Alstom, but noted that Areva still opposes such a plan. Le Figaro described a similar plan, under which both banks and the state would convert debt into Alstom shares, with the government acquiring a stake of around 18 pct. Also without naming its sources, it said much-cited solutions such as folding part of Alstom into Areva or setting up joint ventures with both Areva and Siemens AG are stil under consideration. paris@afxnews.com mrg | ariane | |
12/5/2004 21:43 | PARIS (AFX) - Philippe Carli, chief executive of Siemens France, said a tie-up of his company with the troubled engineering group Alstom could be an option, but he said this does not seem to be the preferred solution of either Alstom or the French government, at least over the short-term. "Today, Siemens can be a partner" with Alstom, Carli said in an interview with French radio BFM, referring to speculation that a merger with Siemens would be a way for Alstom to shore up its balance sheet and reinforce its business strategy. Carli also reiterated that Siemens has never hidden its long term interest of "building a European champion in the energy or transport sectors." For the time being, however, "this is not really the option that seems to be pursued by the different parties involved," he said. The French government is expected to orchestrate a new refinancing package for Alstom soon, following a rescue package carried out last year. Finance Minister Nicolas Sarkozy will meet with EU Competition Commissioner Mario Monti to discuss the matter today. Nonetheless, Carli said he did not see any threat of a dominant market position from any alliance between Siemens and Alstom. "I believe that today, at the EU Commission, the market considered is not only the European market, but also the global market, and from this point of view, neither Siemens nor Alstom have dominant market positions." paris@afxnews.com js/cml | ariane | |
12/5/2004 21:33 | BRUSSELS (AFX) - The French government and EU competition watchdogs have narrowed their differences on a rescue plan for struggling engineering group Alstom, but this has not been sufficient to reach an agreement, French Finance Minister Nicolas Sarkozy said after talks here. He said his "constructive" meeting with EU Competition Commissioner Mario Monti has not produced a deal, and there will be further talks on Monday. "The points of view have got a lot nearer but not near enough to make this meeting conclusive," Sarkozy told reporters. "What we want is to save Alstom in its entirety," he reiterated, adding that the pair would meet again on Monday morning at 10.00 am. The French government has engineered a 3.2 bln eur rescue plan for Alstom that would combine assistance from the state and private banks, but the scheme needs approval from the European Commission, with a decision expected at the end of June. bur-jit/jkm/cmr | ariane | |
07/5/2004 11:51 | BERLIN (AFX) - Siemens AG could pay around 3 bln eur for Alstom's remaining turbines operations but has given up the idea of bidding for other parts of its French competitor, Handelsblatt reported, citing sources close to the German conglomerate. "The chances of the European Commission authorising (a turbines deal) are good," the financial daily quoted one source as saying. Siemens declined to comment, the paper added. Siemens bought Alstom's small and medium gas and industrial steam turbines operations last year. The French government is looking for a partner for Alstom in the context of its 3.2 bln eur bailout of the troubled engineering firm, with Siemens and state-owned nuclear group Areva touted as the most likely suitors. newsdesk@afxnews.com soe/nr/jms | ariane | |
05/5/2004 20:48 | Wed 5 May 2004 printer friendly 10:39am (UK) Amicus Say They Have Evidence to Suggest Unfair Competition Practices in Europe "PA" London (ots) – Manufacturing union Amicus says it is in possession of a leaked transport document which implies UK companies are losing out on vital European contracts. Amicus say the report from a transport industry insider shows that from 2000 to 2003, UK train builders assembled 75% of trains for its own tracks. This compares unfavourably with statistics relating to France and Germany which show that they fulfil 100% of their domestic train building requirements within their own countries boundaries. Amicus say the figures confirm what British manufacturers have long suspected – that France and Germany favour their own industries in European tendering exercises at UK industry’s expense. Amicus has called on the government to begin an urgent investigation into Eurpoean train procurement practices. Amicus General Secretary, Derek Simpson, said: “It appears that the UK’s train building industry may be the victim of unfair competition practices in European tendering exercises. Thousands of UK train building jobs have been lost this year alone and, on the eve of accession, it is vital that the remaining train workers and other struggling UK manufacturers can be convinced that they can expect to compete on a level playing field with European rivals. “I am calling on the government to begin an urgent investigation into this and to examine whether unfair practices are being used in other industry sectors.” Only one train building company, Bombardier in Derby, will remain in the UK after the Alstom plant in Washwood Heath closes in September this year. French owned Alstom announced plans to shut their plant at Washwood Heath in Birmingham last year because of a gap in contracts, despite the plant winning a £100 million contract to build carriages for London Underground. The work is being transferred to Spain. The Washwood Heath plant developed and built the world beating tilting Pendolino train for Virgin and the work finishes in September 2004 while work on the Underground carriages was not due to come on stream until February 2005. The company has cited the five month gap as the reason for plant closure, costing 1400 highly skilled jobs in Birmingham. Bombardier announced 1,000 job losses across its’ UK transport operations last month. ots Original Text Service: Amicus | maywillow | |
05/5/2004 15:39 | PARIS (AFX) - The government will not "transfer the problems" of Alstom to state-owned nuclear group Areva, by forcing it to intervene in the rescue operation, industry minister Patrick Devedjian said. "There is no question of putting Areva in any kind of danger," Devedjian told BFM radio. Areva is rumoured to figure in the government's rescue plan for Alstom. Press reports citing insiders have suggested various scenarios, including Areva taking a stake in Alstom, acquiring its train activities or developing a joint venture in energy. paris@afxnews.com mrg/cml | grupo guitarlumber | |
05/5/2004 09:29 | Riverside sailing centre receives Thames award May 4 2004 Greenwich Mercury A NEW centre created in Deptford to bring the experience of sailing and boating to young people has clinched a prestigious award. The Ahoy Centre, in Borthwick Street, was presented with the River Thames Society Award for making the most significant contribution to the well-being of the River Thames during the calendar year. Officially opened by the Princess Royal, in November, it gives sailing lessons to groups of local schoolchildren, including those with disabilities. The centre is the result of a three- year-long dream by local people to increase access to the river for the community. Volunteer groups cleared derelict land, donated by Fairview Homes, and received a grant for £375,000 from Sport England. The centre, opposite Canary Wharf, also attracted the support of top yachtswoman Tracy Edwards as a patron. Deptford MP Joan Ruddock nominated Ahoy for the award. She said: "It is a wonderful resource for young and disabled people and it is a testimony to the hard work of staff and volunteers alike." Chris Bentley, from Ahoy, said: "To date, the complete project has been run almost entirely by volunteers, who have given their time and expertise freely." He added that the group hopes to attract corporate sponsorship to help fund its activities. It is offering packages including team building sessions and regattas. For information call 020 8516 4040. | grupo guitarlumber | |
04/5/2004 11:34 | FRANKFURT (AFX) - Siemens AG could purchase Alstom's gas turbine unit and the French government and the EU would not object, Handelsblatt reported, citing sources within the European Commission. During a meeting yesterday, French Finance Minister Nicolas Sarkozy and EU Competition Commissioner Mario Monti discussed the troubled French engineering giant. Sarkozy said he would not block a competitor's attempt to purchase parts of Alstom, while Monti said he would not object if Siemens purchased parts of the French company, Handelsblatt reported, citing people who attended the meeting. Siemens acquired Alstom's small and medium-sized gas turbine activities last year for 1.1 bln eur. Alstom's remaining turbine businesses account for 46 pct of the company's sales, Handelsblatt said. amk/cmr | maywillow | |
04/5/2004 07:07 | EU and France near an accord on Alstom Paul Meller NYT Tuesday, May 4, 2004 | maywillow |
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