Ticker Archive
OCTOBER 2007
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- Germany's Moselle Wine Exports Rise 21% on U.S. Demand
(Bloomberg)
German wine growers on the banks of the river Moselle increased exports of their famous Riesling by 21 percent in the year through July mainly on rising demand from the U.S. Exports rose to 109 million euros ($156 million) from 90 million euros a year earlier, the Moselle Wine Growers Association said.
About 43 percent of the output in the region was sold outside Germany. More than half of the exports went to the U.S. "Americans prefer more and more expensive, high-quality Riesling," the group's president Adolf Schmitt said. In the U.S., the Moselle Riesling was sold at an average of 356 euros per hectoliter, up from 333 euros a year earlier.
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- Wal-Mart Selects SAP
(CNN Money)
Demonstrating ongoing leadership in providing innovative solutions to retailers worldwide, SAP AG said that Wal-Mart Stores, Inc. will enhance its financial information systems using SAP. Wal-Mart chose SAP(R) ERP Financials for its ability to support the retailer's global expansion and its need to efficiently respond to changes in the business and regulatory landscape.
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- Dow Chemical builds plant in Germany instead of the U.S.
(Boston Herald)
Dow Chemical CEO Andrew Liveris announced that the company decided to build a plant in Germany because it was more cost-efficient than building it in Texas. Liveris said corporate taxes, government overregulation, high energy prices, an expensive tort system and costly pension and health-care mandates make it hard for companies to do business in the United States.
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- Munich Re bought U.S. Midland for $1.3 billion
(MSNBC)
Munich Re bought Midland, a specialist US primary insurance company, for €900 million ($1.3 billion), a week after the German reinsurer launched a new strategy and management team for its North American business.
The takeover will expand the presence of the world's second-biggest reinsurance company in the property and casualty underwriting business in the world's biggest insurance market.
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- Deutsche Post maintains to return to profitability in US ops in 2009
(Forbes)
Deutsche Post World Net AG is maintaining its forecast of returning to profitability in its US express operations at the end of 2009, chief executive Klaus Zumwinkel said.
He also said that Deutsche Post will continue not to publish its results broken down by regions and countries, a major point of criticism from investors. But Deutsche Post will outline its dividend policies as well as a catalogue of measures to make its divisions more comparable to peers on Nov 8.
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- ProLogis Announces New Agreements With BMW of North America
(PR Newswire)
ProLogis , the world's largest owner, manager and developer of distribution facilities, announced that it has signed two new agreements to develop approximately 1.2 million square feet of industrial space in the eastern United States for automaker BMW of North America.
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- Hochtief AG won new U.S. contracts valued at 1.14 bln EUR
(Forbes)
Hochtief AG said it won several new international contracts with a total value of 1.14 billion eur. In the U.S., its unit Turner Construction is to build a hospital complex in Philadelphia for 166.6 million eur, Hchtief said. In addition, Turner will co-build a US army base in Aberdeen, Maryland for 338.6 mln eur, of which Turner's share amounts to 172.7 million eur.
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- Airtricity sells U.S. business to E.ON
(Reuters)
Germany's E.ON, the world's largest utility, is taking its first step into the U.S. market for renewable energy with the takeover of wind farms there for $1.4 billion including debt. With the acquisition of the American division of Ireland's Airtricity, E.ON is buying current and future projects with a total capacity of more than 7,000 megawatts in the United States and Canada, the German company said.
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- Mylan Completes Acquisition of Generics Business of Merck KGaA
(CNN Money)
Mylan announced today that it has completed its acquisition of Merck KGaA's generics business ("Merck Generics") to become one of the largest quality generics and specialty pharmaceuticals companies in the world. Mylan and Merck KGaA initially announced the signing of a definitive agreement under which Mylan would acquire Merck Generics for $6.7 billion.
