Spirit AeroSystems (NYSE: SPR) has followed through on its pledge to diversify its business away from former-parent Boeing (NYSE: BA), agreeing May 2 to acquire Asco Industries for $650 million in cash. The strategic rationale for moving beyond Boeing is solid. But it will only work out for Spirit investors if the company can do a better job executing this time around than the last time it attempted to move out from under Boeing's shadow. A Spirit-made Boeing 737 fuselage. Image source: Spirit AeroSystems. Buying into Airbus Asco is a $400 million-sales privately held company with operations in North America and Europe. The company supplies wing structures, mechanical assemblies, and other components used on a range of platforms including Airbus and Boeing commercial jets, the F-35 fighter, and other military aircraft. Spirit was formed from a collection of Boeing production lines spun out as an independent company in 2005. In its early years, Spirit was reliant on its … [Read more...] about Spirit AeroSystems Turns to M&A to Decrease Reliance on Boeing
Increase productivity while decreasing cost
By Kamila Aliyeva Oil prices on Thursday morning, April 26, rose amid expectations of the resumption of U.S. sanctions against Iran, declining output in Venezuela and ongoing strong demand. On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil increased $0.43 to trade at $74.43, while the price of Light crude at the NYMEX (New York Mercantile Exchange) rose $0.29 to stand at $68.34 on world markets. At the same time, the price of a barrel of Azeri Light crude oil decreased $1.25 to stand at $75 in the world markets. Venezuela’s plunging output and looming U.S. sanctions against Iran come against a backdrop of strong demand, especially in Asia, the world’s biggest oil consuming region, Reuters reported. The U.S. must decide whether to maintain a nuclear deal and renew sanctions against Tehran before May 12, which is likely to lead to a reduction in the country's oil exports. On April 25, French President Emmanuel Macron, during an official visit to … [Read more...] about Oil prices increase amid possible renew of sanctions against Iran
MOSCOW, Apr 18 (PRIME) -- Gold output of precious metals producer Polymetal International increased 8% on the year to 214,000 ounces, while silver production decreased 3% to 6 million ounces in January–March, the company said in a statement on Wednesday. Total output in gold equivalent grew 5% on the year to 295,000 ounces in the period. Revenue went up 19% to U.S. $354 million. The company attributed the increase to a growth in sales and in prices for precious metals, and to a lesser impact of seasonal closings of gold refineries as compared with the same period of 2017. Polymetal plans its 2018 production to reach 1.55 million ounces in gold equivalent, and total cash costs to amount to $650–675 per ounce in gold equivalent with all-in sustaining costs of $875–925 per ounce. For further details, see the company’s statement on its official website: http://www.polymetalinternational.com/en/investors-and-media/news/press-releases/18-04-2018/ End 18.04.2018 09:26 … [Read more...] about Polymetal gold production rises 8% to 214,000 ounces in Jan–Mar
During a four year strategic plan, Italian energy major ENI will spend €900 million per year on exploration activities, targeting approximately 2 billion barrels of oil equivalent (boe) of new equity resources at approximately $2 per barrel and continuing to implement its dual exploration model, the company’s CEO, Claudio Descalzi, said in New York. ENI expects to deliver production growth of 3.5% per year during the Plan period, fueled by starting and ramping up new projects, which ENI expects to account for approximately 700,000 boe per day by 2021, and optimisation activities, which Eni expects to account for 200,000 boe per day by 2021, Descalzi said. Production in 2018 is expected to increase 4% from 2017. This figure, which is above the original guidance, takes into account the recent entry into the United Arab Emirates and the sale of 10% of Egypt’s Zohr. ENI’s strong asset base allows the company to target an annual average production growth rate above … [Read more...] about ENI’s production in 2018 expected to increase 4% from 2017
ATTEMPTS to curb rising levels of obesity will see tax on soft drinks from April 6, 2018. But just how much will the price of fizzy drinks increase by and how much sugar do they contain? Here's the lowdown... What is the Sugar Tax? The sugar tax was announced by Chancellor Philip Hammond in his budget statement in 2017. He said the money raised as part of the levy would go to the Department for Education. The former Chancellor said the new levy would be put on drinks companies and they would be taxed according to how much sugar was in their beverages. Two categories of taxation are set to come into force. One on the total sugar content on drinks with more than 5g per 100ml and a higher levy for drinks with 8g per 100ml or more. When will the price of fizzy drinks increase? The sugar tax will come into force on April 6 2018. The tax is estimated to raise around £520 million which will be used to fund sports in primary schools. Hopes of a U-turn by new PM Theresa May … [Read more...] about What is the UK sugar tax, when and how much will the price of fizzy drinks increase by and how much sugar do they contain?