Zurich Market Talk - 24-01-2012
24.01.12 09:29

 

Petroplus announces acceleration of revolving credit facility and event of defaut under its bonds. Petroplus Holdings AG (SIX: PPHN) today announced that it and its subsidiaries received notices of acceleration yesterday from the lenders under its Revolving Credit Facility. During the past several weeks, Petroplus has been negotiating with these lenders to reopen credit lines needed to maintain operations and meet financial obligations. In addition, the Company has been seeking to arrange alternative financing and liquidity facilities, as well as other strategic options. Link: Click Here

Metallzug: V-ZUG again reports record sales and commits to Swiss production. Economic growth in Switzerland was dampened in 2011 by the international debt crisis and the strong Swiss franc. In many places, this led to problems on the export side and the relocation of jobs to other countries, especially in the second half of the year. Link: Click Here

Leclanché
announces details of capital increase to raise up to CHF 30 million. A discounted rights offering of up to 2,311,322 new registered shares and up to 2,311,322 warrants to purchase up to 1,155,661 additional new registered shares. Leclanché S.A. (SIX Swiss Exchange: LECN), a Swiss company specialized in the production of large-format lithium-ion cells and energy storage solutions, resolved on January 23, 2012 to conduct a capital increase to raise up to CHF 30 million by offering subscription rights to existing shareholders in a discounted rights offering. Link: Click Here

Alpiq announces details of job cuts in Switzerland. Following completion of the consultation process with the Personnel Committee, Alpiq today announces details of the job cuts in Switzerland which was communicated at the beginning of November as part of the comprehensive restructuring programme. The company plans to shed 170 jobs in Switzerland, 130 of which in the form of redundancies. Link: Click Here

BKW Group: Changed market conditions necessitate impairment charges and provisions. Based on an assessment of the future market trend, the BKW Group will charge impairments and make provisions for onerous energy contracts to the 2011 financial statements. As a result of this measure, the Group expects to post a net loss of around CHF 150 million for the 2011 financial year, contrary to earlier expectations. The impairment charges concern new capital expenditure in fossil fuel thermal power plants abroad. Link: Click Here

Ascom generated revenues for continuing operations of about CHF 437 million for fiscal year 2011 resulting in a slight organic growth of about 1% in local currencies. The EBITDA margin for continuing operations is within the defined full-year guidance of 13-14%. Link: Click Here

AFG: Major changes at AFG Arbonia-Forster-Holding AG. Strong Swiss franc and capacity problems put brakes on revenue – Earnings meet expectations – Extensive impairments lead to loss for the year – Thorough review of business portfolio produces first successes. Link: Click Here

Feintool boosts orders received and sales in abridged year as well. The Feintool Group continued its positive business trend from 1 October to 31 December 2011. At CHF 100 million, the company received 4.6% more orders than in the same period of the previous year. Group sales rose by 11% to CHF 101 million, while the order backlog rocketed by 28% to CHF 186 million. Despite the persistently negative currency situation, Feintool achieved a positive result in the abridged year as well. The company anticipates a stable trend over the coming months. Link: Click Here

Santhera and Ipsen Renegotiate Fipamezole Licensing Agreement. Santhera Pharmaceuticals (SIX: SANN) and Ipsen (Euronext: IPN, ADR: IPSEY) announced today that they have renegotiated their fipamezole licensing agreement. Santhera regains the worldwide rights to the development and commercialization of fipamezole, its first-in-class selective adrenergic alpha-2 receptor antagonist for the management of levodopa-induced Dyskinesia in Parkinson's Disease. Link: Click Here


 
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