Antam may issue $150m bond in 3Q<\/p>\n
JAKARTA: Indonesia's state-owned gold and nickel miner PT Aneka
\nTambang (Antam) may issue US$150 million in bonds in the third
\nquarter to help finance a new ferronickel smelter project, an
\nofficial with the company said over the weekend.<\/p>\n
Company President Director Dedi Aditya Sumanegara told
\nreporters that it's in the process of selecting underwriters for
\nthe proposed issue, which is expected to be listed overseas.
\nThe bond, however, is still awaiting approval from the company's
\nboard of commissioners.<\/p>\n
He said several investment bankers, such as UBS Warburg,
\nCredit Suisse First Boston, and Citicorp, are seeking to
\nunderwrite the issue.<\/p>\n
Antam is exploring new ways to raise funds to finance the
\nconstruction of its third ferronickel plant in South Sulawesi.
\nThe company is mulling whether to cancel its plan to borrow $255
\nmillion from a German export credit agency.<\/p>\n
Antam can only tap such a loan if it hires German companies to
\ndevelop the project. But the euro's recent rise against the
\ndollar makes it unviable for Antam to use the loan as it would
\nhave to pay the German companies in euros.<\/p>\n
Antam is 65 percent owned by the Indonesian government and is
\nlisted on both the Jakarta and Australian Stock Exchanges. --DJ<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-Lufthansa-job-cuts
\nLufthansa staffs fear deep job cuts
\nJP\/GERMANY<\/p>\n
Lufthansa staffs fear deep job cuts<\/p>\n
BERLIN: Lufthansa's employees' council is concerned that the
\nairline is set to cut jobs drastically and wants to talk with
\nmanagement about the matter, the council's president Wolf
\nLiebetrau said in a newspaper interview published on Monday.<\/p>\n
\"We're realistic and already have it in our heads that
\nLufthansa is to be downsized,\" Liebetrau told the Financial Times
\nDeutschland.<\/p>\n
\"But structural changes must be discussed with us. It would be
\nsensible to talk as soon as possible about changes that might
\noccur over the next three to five years, so that we can look for
\nsocially acceptable solutions as soon as possible.\"<\/p>\n
By contrast, a Lufthansa spokesman insisted there were
\ncurrently no plans to change the group's dimension.
\nThe German flag carrier, Europe's third-biggest in terms of
\nmarket share, booked a net loss of 356 million euros (US$420
\nmillion) in the first three months of the current year and
\nexpects to remain in the red at operating level for the whole
\nyear.<\/p>\n
It has already implemented short-time working for employees, a
\nhiring freeze and a reduction in investment but has so far said
\nit wanted to avoid redundancies. -AFP<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-Pepsi-SChina
\nPepsi to expand in south China
\nJP\/GERMANY<\/p>\n
Pepsi to expand in south China<\/p>\n
BEIJING: PepsiCo Investment (China) Ltd. said on Monday it will
\nspend US$30 million to set up a non-carbonated beverages
\nproduction facility in the southern Chinese city of Guangzhou.<\/p>\n
It will be the soft drink giant's first non-carbonated
\nproduction base in China and is expected to be the largest of its
\nkind in Asia on completion.<\/p>\n
The U.S.-based company said in a statement that it expected
\nannual capacity to reach 10 million cases of eight-ounce cans and
\nbottles.<\/p>\n
It said the plant was expected to cover more than 140,000
\nsquare meters (1.5 million square feet) and have five production
\nlines, producing juice and other non-carbonated beverages.<\/p>\n
Molly Yang, public relations official with PepsiCo Investment,
\nsaid that products made at the facility will be marketed in
\nmainland China.<\/p>\n
PepsiCo has so far set up 40 subsidiaries in China, with four
\nin Guangdong province, of which Guangzhou is the capital.<\/p>\n
No details were given on when the new facility would be
\ncompleted. -AFP<\/p>",
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"sponsor": "Okusi Associates",
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