Bayer expects better showing in 2002<\/p>\n
Publicly listed firm PT Bayer Indonesia experienced a sharp
\ndecrease in its net income last year, but expects a better
\nshowing this year on the improved business climate in the
\ncountry.<\/p>\n
\"Although risks remain on the sustainability of economic
\nrecovery, we expect for 2002 a solid increase in income and
\nsales,\" Hans-Josef Schill, Bayer's president director, said
\nduring the company's annual shareholders meeting over the
\nweekend, in a press release.<\/p>\n
In 2001, the company's net income declined to Rp 23.2 billion
\n(around US$2.8 million) from Rp 52.8 billion a year before due to
\nan unfavorable business climate and continued weakening of the
\nrupiah.<\/p>\n
However, the company posted a 9.2 percent increase in total
\nsales from Rp 667.5 billion in 2000 to Rp 728.9 billion last
\nyear. --JP<\/p>\n
Cibibong suffers losses in Q1<\/p>\n
JAKARTA: Cement makers PT Semen Cibinong recorded losses of Rp
\n52 billion (US$6 million) in the first quarter of the year
\nfollowing an increase in operational costs and a drop in export
\nproceeds resulting from the strengthening of the rupiah.<\/p>\n
The firm blamed the rainy season and severe flooding in the
\nfirst months of the year for the loss as it raised production and
\ntransport costs.<\/p>\n
In comparison, the company booked a Rp 32 billion profit
\nduring the same period last year, a press statement said.<\/p>\n
Overall, the firm posted a total sales volume of 1.34 million
\ntons in the first quarter, a slight increase from 1.3 million
\ntons in the same period the year before.<\/p>\n
The volume of domestic sales decreased to 823,000 tons in the
\nfirst quarter, as against 960,000 tons last year, while export
\nsales jumped from 344,000 tons in the first quarter last year to
\n519,000 tons as of March this year. -- JP<\/p>\n
Japan's dairy producer to cut 1,300 jobs<\/p>\n
TOKYO: Japanese dairy maker Snow Brand Milk Products Co. will
\nslash about one-quarter of its work force to cope with heavy
\nlosses following a string of scandals, Japanese newspapers
\nreported Saturday.<\/p>\n
Snow Brand will seek 1,000 voluntary retirees in early August,
\nas part of a revamp before a planned spin-off of its milk unit,
\nJapan's economic newspaper Nihon Keizai reported. The company
\nalso plans to get rid of 300 more employees through attrition
\nlater this year, the newspaper said.<\/p>\n
The company's milk unit is expected to merge with two quasi-
\npublic food cooperatives later this year. About 1,500 Snow Brand
\nemployees are expected to join the newly formed company.<\/p>\n
Phone calls to the company were not answered Saturday.<\/p>\n
Snow Brand has been plagued by scandals dating back to a food
\npoisoning case in 2000 that was blamed on haphazard cleaning of
\nvalves at a plant. --AP<\/p>\n
Lucent may slash up to 20,000 jobs<\/p>\n
SAN FRANCISCO: Telecommunications and network equipment maker
\nLucent Technologies could slash up to 20,000 jobs when it
\nreleases its third-quarter results in July, analysts said Friday.<\/p>\n
\"Given continued sector weakness, we see Lucent at a
\ncrossroads, deciding between the current moderate pace of
\nrestructuring and another large-scale layoff,\" analysts Chris
\nFischer and Todd Koffman of the Raymond James brokerage wrote in
\na note to investors.<\/p>\n
The company on Thursday warned its third-quarter results would
\nplummet 10 to 15 percent from the previous quarter, blaming slow
\nbuying by US telephone carriers.<\/p>\n
Lucent, the world's largest telecommunications equipment
\nmanufacturer, last reported a staff of 77,000 worldwide. Company
\nofficials have made no secret of their desire to pare their
\npayroll down to around 50,000. --AFP<\/p>",
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