"Judge: Sterlite can buy Valley-based Asarco
...Associated Press
...U.S. Bankruptcy Judge Richard Schmidt approved the request Wednesday from Asarco's court-approved board to sign a sale contract with Sterlite Industries Ltd.
That will spur competition with Grupo Mexico SAB of Mexico City, which owned Asarco but lost control after Asarco filed for Chapter 11 reorganization in 2005.
Grupo Mexico has said it would pay $1.3 billion to reassume control - a move Asarco officials oppose. Sterlite offered $2.6 billion last year but withdrew the bid when copper prices plunged. Asarco is able to accept a higher offer until its reorganization plan receives final approval.""
http://www.azcentral.com/news/articles/2009/04/24/20090424asarco0424.html
Saturday, April 25, 2009
Wednesday, April 22, 2009
2007 CMA CGM launches first Chinese port venture; is also interested in Mexico Punta Colonet seaport
" Monday, November 26, 2007 CMA CGM in first Chinese port venture
[http://cargobusinessnews.com/archive/week_of_112607.html]
A “STATEGIC cooperation agreement for the development of the port of Haicang at Xiamen” was signed Nov 26 by CMA CGM Group, the municipality of Xiamen (Fujian province), and New World Services Holding Ltd. (NWS), according to a company announcement.
This will be CMA CGM’s first port investment project in China. The French group has shares in 16 port terminals around the world.
According to the agreement, CMA CGM and its partners will invest in the construction and management of a deep water container terminal.
The container port is planned to be operational in 2009.
CMA CGM is the third largest container shipping group for international traffic in China, with 280,000 TEUs planned for 2007, according to the announcement.
New World is a “well-established Hong Kong–based group with a rich experience of investments in transport infrastructure projects in China, especially in ports (Xiamen, Tianjin, Dalian, and Wenzhou).”
The ceremony, at the Great Hall of the People in Beijing, was attended by French President Nicolas Sarkozy and Chinese President Hu Jintao."
[http://cargobusinessnews.com/archive/week_of_112607.html]
A “STATEGIC cooperation agreement for the development of the port of Haicang at Xiamen” was signed Nov 26 by CMA CGM Group, the municipality of Xiamen (Fujian province), and New World Services Holding Ltd. (NWS), according to a company announcement.
This will be CMA CGM’s first port investment project in China. The French group has shares in 16 port terminals around the world.
According to the agreement, CMA CGM and its partners will invest in the construction and management of a deep water container terminal.
The container port is planned to be operational in 2009.
CMA CGM is the third largest container shipping group for international traffic in China, with 280,000 TEUs planned for 2007, according to the announcement.
New World is a “well-established Hong Kong–based group with a rich experience of investments in transport infrastructure projects in China, especially in ports (Xiamen, Tianjin, Dalian, and Wenzhou).”
The ceremony, at the Great Hall of the People in Beijing, was attended by French President Nicolas Sarkozy and Chinese President Hu Jintao."
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