Frank Martin on sat 27 feb 99
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I found this of interest and thought others would too.
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Business: The Company File
ECC accepts Imetal bid
Mining and minerals firm English China Clays (ECC) has
accepted a =A3756m (=241.25bn) takeover bid from its
French rival Imetal.
The bid values the company at 250 pence a share and
was lifted from an initial 225p-per-share bid made last
month and rejected by ECC.
Both firms are involved in the extraction of pigments
used to coat paper products, and tableware ceramics.
Imetal said the integration of ECC would create one of
the world's leading producers of white pigments and that
the enlarged group would become a low cost producer
with a wider product base and better research and
development opportunities. Imetal said ECC had failed to
deliver good profit performance and its restructuring
plans had not worked.
The French firm is the larger of the two, with annual
sales of =A31.3bn. It employs 10,000 people worldwide.
ECC is based in Reading and had sales of =A3850m last
year. It has 6,000 employees worldwide.
http://news.bbc.co.uk/hi/english/business/the=255Fcompany=255Ffile/newsid=25=
5F269000/2
69552.stm
Monday, February 1, 1999 Published at 09:55 GMT
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Frank Martin
E-Mail: potters=40warwick.net
92nd Street YM-YWHA
Art Department / Ceramics
1395 Lexington Ave.
New York, New York 10128
Work - (212) 415-5565
Fax - (212) 415-5574
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