...Case Report 5: Victoria Chemicals PLC (A): The Merseyside Project Introduction Victoria Chemicals is the primary competitor of production of polypropylene in chemicals industry. Due to the old production process, Victoria Chemicals becomes less competitive and its earnings decline from 250 pence in 2006 to 180 pence in 2007. The company is supposed to improve its finical performance to gain investors. There is a Merseyside project consisted of GBP12million expenditure can improve the production efficiency and achieve the energy savings. This report investigates the analysis of the Merseyside project and figure out the issues of the project through the calculation of new NPV and IRR. In addition, the report provides the recommendation of whether to accept the project. Issue 1: Shut down period For such a large size of the project taking GBP12million expenditure, the shut down period of 45 days is too short for the company. Therefore, we adjusted the period to 90 days to complete. Issue 2: Depreciation method Original model used accelerated basis method to depreciate the assets increase the tax shield in the earlier years of the project. The depreciation method is supposed to be straight-line depreciation. Issue 3: Treatment of engineering costs The preliminary engineering cost of 0.5 million spending on the efficiency and design studies of the renovation should considered as a sunk cost. Therefore, the preliminary engineering cost is not supposed to be included in the...
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...victoria chemical EPPM3644 KEWANGAN KORPORAT DAN PENSTRUKTURAN SET: 3 REPORT OF CASE STUDY: CASE 24 VICTORIA CHEMICALS PLC (A) THE MERSETSIDE PROJECT NAME OF PROFESSOR: DR. LIZA MARWATI BINTI MOHD YUSOFF GROUP MEMBERS: LOH CHAI LING A140178 GOH HOOI SAN A139708 KERK (KEH) YIH JEN A139574 SEMESTER 2, 2013/2014 INTRODUCTION Victoria Chemicals, a major competitor in the worldwide chemicals industry, was a leading producer of polypropylene, a polymer which was known for its strength and malleability. Polypropylene is used in an extremely wide variety of products from medical products to packaging film, carpet fibres, and automobile components. It was essentially priced as a commodity. Victoria Chemicals produced polypropylene at two plants which are Merseyside Works and in Rotterdam, Holland. The two plants were identical in scale, age, and design. The managers of both plants reported to James Fawn, executive vice president and manager of the Intermediate Chemicals Group (ICG) of Victoria Chemicals. The company positioned itself as a supplier to customers in Europe and the Middle East. However, their earning per share had fallen from 250 pence per share to 180 pence per share from end of year 2006 to year 2007. And also the accumulation of the firm’ common shares by a well-known corporate raider, Sir David Benjamin had caused the Victoria Chemicals was under pressure from investors to improve its financial performance. Due to this issue, Morris...
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...Victoria Chemicals PLC (A): The Merseyside Project Capital Budgeting Case Analysis ------------------------------------------------- DeQuincy Adamson Donald Harrell Lekisha McKinley Taylor Wolfe Finance 5387 Spring 2012 Victoria Chemicals: Case Background Victoria Chemicals was a major competitor in the chemical industry worldwide. The company was the leading producer of polypropylene, a polymer that is used in a variety of products including carpet fibers, packaging, and automobile parts. Polypropylene was essentially priced as a commodity. In order to meet demand, Victoria Chemicals produced and manufactured polypropylene at two plants, the Merseyside Works plant in Liverpool, England, and the Rotterdam facility in Rotterdam, Holland. The plants were built in 1967 and are identical in scale and design. Additionally, managers of both plants reported to James Fawn, the executive vice president and manager of the Intermediate Chemicals Group (ICG). The production of polypropylene pellets begins at Merseyside with propylene, a refined gas received in tank cars known as propylene. The production process consisted of two stages: In the first stage, the gas form of polypropylene was combined with a solvent in a pressurized vessel and then concentrated and collected in a centrifuge. Next, the polypropylene was mixed with stabilizers, modifiers, fillers, and pigments in order to create the final product, a plastic pellet, which is shipped to the customer. The company...
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...major competitors (see Table 1), the earning has fallen to 180 pence per share in 2007 from 250 pence per share in 2006. The Victoria chemicals PLC is considering to conduct £12 million expenditure to renovate and rationalize the polypropylene production line at the Merseyside plant to make up for deferred maintenance and to increase production efficiency. The specific measures of this capital program including relocating and modernizing tank-car unloading areas, refurbishing the polymerization tank and renovating the compounding plant. Although Greystock has developed DCF analysis (see Exhibit 1), other members have their own ideas for the project. As the plant manager of Victoria Chemicals’ Merseyside Works, Morris needs to consider whether to add others opinions into the project and whether to promote the project for funding. There are four investment criteria for engineering-efficiency investment: positive net income, maximum payback period is 6 years, positive NPV of free cash flow and IRR should be greater than 10%. Transport Division To meet the project’s goal of increasing throughput, the Transport Division has to increase its allocation of tank cars to Merseyside Works. Greystock disagreed to put the cost of the tank cars into the initial outlay of capital program because he thought that the Transport Division wasn’t part of Intermediate Chemicals Group. From the whole operation system, the Transport Division is the key link to four petroleum refineries in England thus...
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...The University of Lethbridge Calgary Campus Faculty of Management Management 4430Y Financial Management Spring 2011 A.P. Palasvirta Office: Markin 4132, Lethbridge Phone: (403) 332-4582 e-mail: oz.palasvirta@uleth.ca Goal of Course Management 4430 is the capstone course in finance and will incorporate concepts you have learned in through your study of corporate, investments, and international. We will utilize the case methodology to focus our analysis. Cases describe a context in which a particular problem is found. Regardless of the particular characteristics of the problem, problem solving follows a general methodology: identification of the problem, describing the context of the problem, analysis of potential alternative solutions, the identification of the best solution, implementation of the best solution , and the creation of controls and contingency plans, if applicable. Text and Other Sources: E-book based on Case Studies in Finance, 6th ed., 2010, McGraw Hill, Toronto, ISBN Prerequisites Management 3412, Fundamentals of Investments Investments, Analysis & Management, 2nd Canadian Ed., 2005, Cleary & Jones, John Wiley & Sons Canada Ltd., Mississauga ISBN 0-470-83542-7 Management 3460, Corporate Finance Fundamentals of Corporate Finance, 6th Canadian Ed., 2007, Ross, Westerfield, Jordan, & Roberts, McGraw-Hill Ryerson, Toronto ISBN 13: 978-0-07-095910-1 A list of topics for which you should have working knowledge...
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...P1 Describe the type of business, purpose and ownership of two contrasting organisations. RSPCA http://www.rspca.org.uk/home http://www.media.rspca.org.uk/media The RSPCA is a charity. The RSPCA (Royal Society for the Prevention of Cruelty to Animals) is an organisation that prevents cruelty to animals. It was founded in a London coffee shop 1824. It was originally called the SPCA (Society for the Prevention of Cruelty to Animals) until in 1837, when Queen Victoria allowed permission for the organisation to add the ‘R’ for the symbol of Royal patronage to be displayed in 1840. The RSPCA is a PLC (Public Limited Company). Two years before the RSPCA was founded, the ‘Martin’s Act’ was created in 1822; this was the first animal welfare law that forbade ‘the cruel and improper treatment of cattle’. In 1835, the ‘Pease’s Act’ was created; this allowed the prohibition of cruelty to cattle to be extended to dogs and other domestic animals. This act also saw that ‘Bear-Baiting’ and ‘Cock-fighting’ were forbidden and also insisted on better standards for slaughter houses. Since being founded the RSPCA has made sure that; laws have been made for lab animals, fur farming in the UK has been abolished and the ban of fox hunting with dogs as well as the Animal Welfare Act. The RSPCA is a founded company that is improving the welfare of animals. ‘It’s our vision to work for a world in which all humans respect and live in harmony with all other members of the animal kingdom.’- RSPCA...
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...Delivery and growth Royal Dutch Shell plc Annual Report and Form 20-F for the year ended December 31, 2007 Royal Dutch Shell Our Business With 104,000 employees in more than 110 countries and territories, Shell plays a key role in helping to meet the world’s growing demand for energy in economically, environmentally and socially responsible ways. Our Exploration & Production business searches for and recovers oil and natural gas around the world. Many of these activities are carried out as joint venture partnerships, often with national oil companies. Our Gas & Power business liquefies natural gas and transports it to customers across the world. Its gas to liquids (GTL) process turns natural gas into cleaner-burning synthetic fuel and other products. It develops wind power to generate electricity and invests in solar power technology. It also licenses our coal gasification technology, a cleaner way of turning coal into chemical feedstocks and energy. Our Oil Sands business, the Athabasca Oil Sands Project, extracts bitumen from oil sands in Alberta, western Canada and converts it to synthetic crude oils. Our Oil Products business makes, moves and sells a range of petroleum-based products around the world for domestic, industrial and transport use. Its Future Fuels and CO2 business unit develops fuels such as biofuels and hydrogen and synthetic fuels made from natural gas (GTL Fuel) and potentially from biomass; and leads company-wide activities on CO2 management. With...
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...We can make it A consultation document Manufacturing 2020 Panel Contents Message from the Chairman....................................................................3 What are the Issues? ........................................................................................4 ISSUE 1: REDEFINING MANUFACTURING.............................................................4 ISSUE 2: THE IMPACT OF THE INTERNET .............................................................5 ISSUE 3 - PEOPLE ARE THE KEY TO THE FUTURE..............................................7 ISSUE 4 - MANUFACTURING TO A UNIT OF ONE..............................................8 ISSUE 5 - TECHNOLOGY AND INNOVATION AS THE KEY ENABLERS ..........9 What do I do now? .......................................................................................11 Panel and Task Force Members .........................................................12 What is Foresight....................................................................inside back cover www.foresight.gov.uk 1 What’s this all about? It is easy for people in business to downplay or ignore the importance of thinking strategically about the future. Day-to-day problems always seem to need immediate attention. Predictions about the future are invariably wrong. And, on the surface, the world we live in today doesn’t look or feel that different to what it was 10 years ago. So why should it change much over the next 10-20 years? But the fact is...
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...tutors are available 24/7 to assist you what you need, Click Here to submit your Order. ======================================================================================= Acquisition of Consolidated Rail Corp. by Benjamin C. Esty Airbus A3XX: Developing the World’s Largest Commercial Jet by Benjamin C. Esty American Chemical Corp.by William E. Fruhan, John P. Goldsberry American Home Products Corp.by David W. Mullins AQR’s Momentum Funds by Daniel B. Bergstresser, Lauren H. Cohen, Randolph B. Cohen, Christopher Malloy Arundel Partners: The Sequel Project by Timothy A. Luehrman AXA MONY by Andre F. Perold, Lucy White Beta Management Co. by Michael E. Edleson Butler Lumber Co. by Thomas R. Piper Cartwright Lumber Co.by Thomas R. Piper Citigroup 2007: Financial Reporting and Regulatory Capital by Edward J. Riedl, Suraj Srinivasan Clarkson Lumber Co. by Thomas R. Piper Cooper Industries, Inc. by Thomas R. Piper Cost of Capital at Ameritrade by Erik Stafford, Mark L. Mitchell Debt Policy at UST, Inc. by Mark L. Mitchell Dell’s Working Capital by Richard S. Ruback DermaCare: Zapping Zits Directly by Richard G. Hamermesh, Lauren Barley Diageo plc by George Chacko, Peter Tufano Dimensional Fund Advisers–2002 by Lauren H. Cohen Dividend Policy at FPL Group, Inc.by Benjamin C. Esty Dividend Policy at Linear Technology by Malcolm P. Baker, Alison Berkley Wagonfeld Equity International: The Second Act by Nicolas P. Retsinas, Ben...
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...Marketing Concepts Assignment Soap Industry [pic] Tutor: Joan Crowe Subject: Marketing Concepts Due Date: May 21st, 2003. Executive Summary This report has been commissioned to Luke Bishop. The company wants to re-evaluate its marketing approach for their business in Soap Industry in Australia. The purpose of this report is to give the Luke Bishop an overview of the Soap Industry in Australia, analyzing the market and make recommendation to Luke Bishop at approach should the company use in the future. The report examines the history, marketing size and growth, major players, current states of the industry, its target market and positioning and the use of different marketing mix and approach. We will discuss the new product “Refresh”. “Refresh” is a spray which can be used for shower instead of using traditional form of soap. It is easy and convenient to use. In the liquid soaps industry, its grocery value in 2002 is 48.2 millions. There is an increase of 10.9 percent of sales for liquid soups by comparing to previous year (2001). The sale of soap is growing every year. We can predict that the annual sales of soap will continue to grow in the future. There is quite a lot of competitor in this industry. We will focus on 4 major competitors. They are Unilever, Colgate-Palmolive, PZ Cussons and Reckitt-Benckiser. We will also discuss the current status in the marketing, and analysis how different marketing environment will affect...
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...ABOUT MAS HOLDINGS Strategic Partnerships Partnering up with renowned brands from across the globe has enabled us to offer fully-integrated world class solutions to our clientele. Our alliances are based on mutual understanding and trust, sharing the same principles in business ethics with our partners, an attribute that has proven to be a strong competitive advantage for MAS over the years. Our joint venture partners include: | MAST Industries, Inc., USA | | Triumph International Overseas Limited, HK | | Speedo International Limited, UK | | Stretchline (UK) Limited, UK | | Ets Lucien Noyon Et Cie, France | | Prym Intimates Group Ltd, HK | | Brandot International Limited, USA | | Labyrinth Solutions Holdings, USA | | Tradecard, Inc., USA | | NSL Infratech (Private) Limited, India | MAS Intimates Offering customers highly differentiated intimate wear, flawless designs blended with exquisite quality, this is where perfection is revealed in every intricate detail. Drawing from 25 years of experience in lingerie manufacturing, MAS Intimates offer niche market intimate wear of unparalleled quality. With 12 world class manufacturing facilities in operation across Sri Lanka, India, Bangladesh & Indonesia, together with design offices situated in New York, Hong Kong, UK and Colombo, we service some of the most renowned global intimate brands. Sharing a long standing strategic partnership with...
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...Market Report Plus 2013 27th Edition June 2013 Edited by Leah Tutt ISBN 978-1-78304-020-9 Hotels Hotels Foreword In today’s competitive business environment, knowledge and understanding of your marketplace is essential. With over 30 years’ experience producing highly respected off-the-shelf publications, Key Note has built a reputation as the number one source of UK market information. Below are just a few of the comments our business partners and clients have made on Key Note’s range of reports. “The test of any marketing strategy and plan lies in the quality of information used, upon which marketing judgments and decisions are based. Quality is the key word here. The Key Note reports are an excellent source of such quality information, covering a wide variety of product sectors.” The Chartered Institute of Marketing “We have enjoyed a long-standing relationship with Key Note and have always received an excellent service. Key Note reports are well produced and are always in demand by users of the business library. Having subscribed to Market Assessment reports for a number of years, we continue to be impressed by their quality and breadth of coverage.” The British Library “When we are putting together strategic information for presentations to major retailers and Symington’s Board, the combination of Key Note’s market research and company information proves invaluable. It is accurate and easy to use, and provides us with important insight that we cannot get elsewhere...
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...Cadbury Cadbury Type Industry Founded Headquarters Products Revenue Subsidiary of Mondelēz International Confectionery Birmingham, United Kingdom (1824) Uxbridge, London, United Kingdom See list of Cadbury products £5,384 million (2008) Operating income £388 million (2008) Net income Employees Parent Website £364 million (2008) 71,657 (2008) [1] Kraft Foods (2010-2012) Mondelēz International (2012-present) Cadbury.co.uk [2] Cadbury is a British confectionery company owned by Mondelēz International Inc. and is the industry's second-largest globally after Mars, Incorporated.[3] With its headquarters in Uxbridge, London, England, the company operates in more than 50 countries worldwide. The company was known as Cadbury Schweppes plc from 1969–2008 until its demerger, in which its global confectionery business was separated from its US beverage unit (now called "Dr Pepper Snapple Group").[4] It was also a constant constituent of the FTSE 100 from the index's 1984 inception until its 2010 Kraft Foods takeover.[5][6] History 1824–1900: Early history In 1824, John Cadbury began selling tea, coffee, and drinking chocolate, which he produced himself, at Bull Street in Birmingham, England. He later moved into the production of a variety of cocoa and drinking chocolates, made in a factory in Bridge Street and sold mainly to the wealthy because of the high cost of production. John Cadbury became a partner with his brother Benjamin and the company...
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...Pump & Valve Industry – Overview & Opportunities About Singhi Advisors Your Partners in Growth . . . Private & Confidential Singhi Advisors Advantage Singhi Two Decades of delivering Success… Full service Investment bank with strong capabilities in M&A, PE & India Entry Strategy Many Services…One Goal MERGERS & ACQUISITIONS INDIA ENTRY STRATEGY PRIVATE EQUITY One of the top ten Investment Bankers and winner of the M&A Atlas Awards – Deal of the Year 2011, ACQ Global Award 2009 for ‘Corporate and M&A Advisory firm of the year-India’ o Co po ate a d & dv so y o t e yea da Multi–dimensional focus, covering all major sectors and industries Current focus with mid market and growing Corporates, while having strong relationships with top business houses in the country E Experienced & S bl M i d Stable Management, l di leading a team of >35 f 35 professionals, 70% of the team averaging 6+ years with Singhi Strong relationship and confidence from existing clients with 60% repeat business and 80% strike rate Live relationship with >250 Corporates, resulting in >800 ve e at o s p w t 50 Co po ates, esu t g 800 completed assignments. CORPORATE RESTRUCTURING DEBT SYNDICATION CORPORATE ADVISORY Global Reach Exclusive Indian Member of “Mergers-Alliance”, a leading international network of independent Investment Banking Firms and Corporate Finance advisory firms offering seamless services on mid-market transactions With the successful closure of more than 90 transactions...
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...DIAMOND BANK PLC AUDITED FINANCIAL STATEMENTS 31 DECEMBER 2011 DIAMOND BANK PLC Table of Content Page Directors' report 1 Compliance with Code of Corporate Governance 7 Directors' responsibility and approval 25 Auditors' report 26 Statement of significant accounting policies 28 Profit and loss accounts 36 Balance sheets 37 Cash flow statements 38 Notes to the financial statements 39 Statement of value added 73 Five-year financial summary 74 Financial risk analysis 78 DIAMOND BANK PLC Directors' Report For period ended 31 December 2011 The directors present their annual report on the affairs of Diamond Bank Plc (“the Bank”) and its subsidiaries ("the Group"), together with the financial statements and auditors' report for the period ended 31 December 2011. a. Legal Form The Bank was incorporated in Nigeria under the Companies and Allied Matters Act 1990 as a private limited liability company on 20 December 1990. It was granted license on the 15 March 1991 to carry on the business of commercial banking and commenced business on 21 March 1991. The Bank converted into a Public Limited Liability Company on 28 February 2005. The Bank’s shares were listed on the 27 May 2005 on the floor of the Nigerian Stock Exchange by way of introduction. b. Principal Activity and Business Review The principal activity of the Group continues to be the provision of banking and other financial services to corporate and individual customers. Such services include granting...
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