Weakened Xerox will sell assets to stengthen its balance sheet

Article Abstract:

Xerox Corp. CEO Paul Allaire said that the company would begin to sell-off assets in an attempt to raise money and improve its finances. The company, which expects a loss for the third quarter, may sell off its 50% share of Fuji Xerox, a joint venture with Fuji Photo Film Co. and plans more layoffs and downsizing.

Photographic equipment and supplies, Photocopy Equipment, Photographic and Photocopying Equipment Manufacturing, Office equipment and supplies industry, Office equipment industry, Xerox Corp., XRX, Finance, Company acquisition/merger, Company financing

Fleet unit to buy Merrill's specialist operation

Article Abstract:

Fleet Financial Group's JJC Specialist unit will pay an estimated $150 million for Merrill Lynch Specialists Inc., a deal that is expected to rank JJC in the number two specialist spot. It is thought that Merrill decided the sale of the profitable business could make its annual income figures look better. It was a unit that was just there due to a 1987 acquisition, but was not thought of as part of its core business.

Acquisitions & mergers, Other Financial Vehicles, Investors, not elsewhere classified, Investors NEC, Offices of Bank Holding Companies, Bank holding companies, Securities industry, Investors, Quick and Reilly Inc., FLT, Merrill Lynch Specialists Inc.

General Chemical set to spin off two businesses

Article Abstract:

Hampton, N.H.-based General Chemical Group Inc. will spin off two units to better concentrate on its commodity chemicals, primarily soda-ash. Spun off will be specialty chemicals and auto parts units. The two will form a company to be named GenTek Inc. The chemicals it makes now and will make are those used in pharmaceuticals, agriculture and photography.

Comment:

New co. formed from General Chemical Group spin-off

Organizational history, Alkalies and chlorine, Alkalies and Chlorine Manufacturing, Soda Ash, Management, Automobile equipment and supplies industry, Automotive parts industry, Specialty chemicals industry, GenTek Inc., Sodium carbonate, General Chemical Group Inc.