Miago - chinesischer Düngemittelhersteller - 500 Beiträge pro Seite
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JAN 20, 2010 - 10:17 ET
Migao Signs Contract to Distribute Potassium Sulphate From Russia's Rusal
TORONTO, ONTARIO--(Marketwire - Jan. 20, 2010) - Migao Corporation (TSX:MGO), a China-based leading specialty fertilizer producer, today announced an agreement with Russian-based Rusal to import and distribute agricultural-grade potassium sulphate produced from Rusal's alumina factory to China's agricultural market.
The one-year contract is for approximately 12,000 tonnes of agricultural grade potassium sulphate with an option to increase the volume if required. Migao will be distributing the potassium sulphate fertilizer for fruit and vegetable applications in China.
The potassium sulphate is a by-product from Rusal's Achinsk Alumina Refinery in the Krasnoyarsk region of Russia. The first shipment is to be delivered to Migao in China this month.
"We are very pleased to have an agreement with Rusal, one of Russia's largest and trusted corporations," said Mr. Liu Guocai, Chief Executive Officer of Migao. "Rusal selected Migao to access the Chinese market because of our reputation as an established and respected leader in the Chinese fertilizer market. We expect this relationship to expand after the initial term concludes successfully."
About Rusal
United Company RUSAL (www.rusal.com) is the global leader in the aluminium industry, accounting for approximately 12% and 13% of global production of aluminium and alumina respectively. UC RUSAL employs more than 75,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, South East Asian and North American markets.
About Migao
Since 2003, Migao Corporation, through its wholly owned subsidiaries, produces and distributes specialty potash fertilizer across China for China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.
Migao Signs Contract to Distribute Potassium Sulphate From Russia's Rusal
TORONTO, ONTARIO--(Marketwire - Jan. 20, 2010) - Migao Corporation (TSX:MGO), a China-based leading specialty fertilizer producer, today announced an agreement with Russian-based Rusal to import and distribute agricultural-grade potassium sulphate produced from Rusal's alumina factory to China's agricultural market.
The one-year contract is for approximately 12,000 tonnes of agricultural grade potassium sulphate with an option to increase the volume if required. Migao will be distributing the potassium sulphate fertilizer for fruit and vegetable applications in China.
The potassium sulphate is a by-product from Rusal's Achinsk Alumina Refinery in the Krasnoyarsk region of Russia. The first shipment is to be delivered to Migao in China this month.
"We are very pleased to have an agreement with Rusal, one of Russia's largest and trusted corporations," said Mr. Liu Guocai, Chief Executive Officer of Migao. "Rusal selected Migao to access the Chinese market because of our reputation as an established and respected leader in the Chinese fertilizer market. We expect this relationship to expand after the initial term concludes successfully."
About Rusal
United Company RUSAL (www.rusal.com) is the global leader in the aluminium industry, accounting for approximately 12% and 13% of global production of aluminium and alumina respectively. UC RUSAL employs more than 75,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, South East Asian and North American markets.
About Migao
Since 2003, Migao Corporation, through its wholly owned subsidiaries, produces and distributes specialty potash fertilizer across China for China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.
Salz- und Düngemittel: Klimawechsel im Sektor
Während Deutschland unter einer Schneedecke liegt, steigen die Temperaturen in der Salz- und Düngemittelbranche rapide an. Der Sektor steht vor einer Konsolidierungswelle. Doch auch abgesehen davon dürfte das Klima freundlicher werden.
Das Geschäft mit Salz ist derzeit lukrativ wie selten. Während Deutschland unter einer Schneedecke liegt und vereiste Straßen Autofahrern das Leben schwer machen, nutzt die K+S-Tochter Esco alle zur Verfügung stehenden Möglichkeiten, um die Versorgung der Kunden mit Auftausalz sicherzustellen. Das heißt Dreischicht-Betrieb seit Mitte Dezember. Das heißt aber auch: Mehreinnahmen. Den Aktionären der Gesellschaft kann das nur recht sein. Die Aktie des DAX-Konzerns hat zuletzt deutlich zugelegt. Doch Salz ist nur ein Geschäft von vielen. Nicht nur für K+S, sondern auch für Wettbewerber wie Yara International. Die Norweger setzen jetzt auf Zukäufe und bringen mit einer milliardenschweren Übernahmeofferte womöglich die zweite große Konsolidierungswelle in der Branche ins Rollen.
Milliardengebot an Terra-Aktionäre
Der K+S-Konkurrent will sein Nordamerika-Geschäft über einen milliardenschweren Zukauf stärken, wie Yara-Chef Ole Haslestad erklärte. Yara bietet 4,1 Milliarden Dollar für den US-Düngemittelanbieter Terra Industries. Der Kaufpreis soll in bar beglichen und teilweise über eine Kapitalerhöhung finanziert werden. Die norwegische Regierung - größter Yara-Eigner mit einem Anteil von 36 Prozent - hat bereits ihre Bereitschaft zur Teilnahme an einer solchen Kapitalerhöhung signalisiert. Der angebotene Kaufpreis lag zum Abgabezeitpunkt knapp 24 Prozent über dem Schlusskurs der Terra-Aktie, die daraufhin sofort in die Höhe schoss, während Yara-Titel deutliche Einbußen hinnehmen mussten. Dabei zählt die Yara-Aktie zu den günstigsten des Sektors, wird lediglich mit dem 13-fachen des für 2010 erwarteten Gewinns gehandelt.
K+S das nächste Übernahmeziel?
Händler verweisen darauf, dass die Konsolidierung in der Branche nun an Dynamik gewinnen könnte. Terra wurde schon länger als Übernahmekandidat gehandelt. CF Industries Holdings aus Deerfield bei Chicago hatte erst kürzlich einen feindlichen Übernahmeversuch abbrechen müssen. Erst im vergangenen Jahr war die bereits eingangs erwähnte K+S ebenfalls in die Offensive gegangen und hatte den US-amerikanischen Salzproduzenten Morton Salt übernommen. Doch auch wenn K+S bislang eine aktive Rolle in der Branchenkonsolidierung gespielt hat - die Kasseler gelten selbst ebenfalls als potenzielles Ziel.
Im internationalen Vergleich ist der DAX-Konzern nämlich keinesfalls ein Schwergewicht. Mit nicht einmal neun Milliarden Euro bringt das Unternehmen gerade einmal ein Drittel des Gewichts von Potash auf die Börsenwaage. Die Kanadier könnten angesichts des jüngsten Yara-Vorstoßes nun geneigt sein in den Markt einzugreifen, um ihre Position zu festigen. Anleger sollten allerdings eher auf den potenziellen Übernahmekandidaten K+S setzen als auf den möglichen Käufer Potash, der mit einem 2010er-KGV in Höhe von 24 bereits mit einer satten Prämie zur Peer Group gehandelt wird.
Mosaic zeigt höchstes Potenzial
Doch wenn schon Potash derzeit kein Kauf ist, dann vielleicht der US-Konkurrent Mosaic. Tatsächlich ist das Unternehmen mit Sitz in Plymouth im Bundesstaat Minnesota nicht nur günstiger bewertet - das 2010er-KGV liegt bei 15 -, es weist auch im Peer-Group-Vergleich das höchste Erholungspotenzial auf. Analysten rechnen damit, dass das Management des an der New Yorker Börse notierten Unternehmens den Gewinn auf Jahressicht auf 1,41 Milliarden Euro mehr als verdoppeln kann. Für das laufende Geschäftsjahr (endet im Mai) wird immerhin mit einem Überschuss in Höhe von 690 Millionen Euro gerechnet. Die Aktie hat einen Teil dieser Wachstumsfantasie eingepreist und zuletzt deutlich an Wert gewonnen. Dennoch können sich Anleger den Titel ins Depot legen. Goldman Sachs hat das Kursziel zuletzt auf 68 Dollar angehoben und die Aktie von "Neutral" auf "Buy" hochgestuft.
Branchenzwerg zum Mitnehmen
Sollte der Appetit der Großen nur klein sein, könnten sie bei Migao zuschlagen. Der chinesische Hersteller von Kaliumchlorid - auch Pottasche genannt - ist mit einer Marktkapitalisierung von 0,26 Milliarden Euro ein Branchenzwerg und ein günstiger dazu: So wird die Aktie des an der Börse in Toronto gelisteten Unternehmens derzeit lediglich mit dem 9-fachen des für 2010 erwarteten Gewinns gehandelt. Elf von zwölf Analysten empfehlen den Titel zum Kauf. Der Konzern dürfte vor allem von einer Stabilisierung der Preise für Pottasche profitieren. Anlässlich der Vorlage der Drittquartalszahlen zeigte sich das Management zuversichtlich, dass der Boden nun erreicht sei und es mit den Preisen wieder aufwärts gehen würde. Wenngleich die Aktie aufgrund des geringen Börsenwertes spekulativ ist, so wirkt doch der Umstand, dass in der Firmenkasse liquide Mittel in Höhe von 128 Millionen Kanadische Dollar schlummern, beruhigend.
Erholungstendenzen absehbar
Die gesamte Branche dürfte im laufenden Jahr eindeutige Erholungstendenzen erkennen lassen. Übernahmen sind aufgrund der nach wie vor niedrigen Kurse wahrscheinlicher geworden. Vorsichtige Anleger legen sich Papiere von K+S sowie Yara ins Depot. Mosaic ist eine Spur spekulativer, während Migao als Hot-Stock einzustufen ist. Potash hingegen ist aufgrund der hohen Bewertung derzeit bestenfalls eine Halteposition.
Während Deutschland unter einer Schneedecke liegt, steigen die Temperaturen in der Salz- und Düngemittelbranche rapide an. Der Sektor steht vor einer Konsolidierungswelle. Doch auch abgesehen davon dürfte das Klima freundlicher werden.
Das Geschäft mit Salz ist derzeit lukrativ wie selten. Während Deutschland unter einer Schneedecke liegt und vereiste Straßen Autofahrern das Leben schwer machen, nutzt die K+S-Tochter Esco alle zur Verfügung stehenden Möglichkeiten, um die Versorgung der Kunden mit Auftausalz sicherzustellen. Das heißt Dreischicht-Betrieb seit Mitte Dezember. Das heißt aber auch: Mehreinnahmen. Den Aktionären der Gesellschaft kann das nur recht sein. Die Aktie des DAX-Konzerns hat zuletzt deutlich zugelegt. Doch Salz ist nur ein Geschäft von vielen. Nicht nur für K+S, sondern auch für Wettbewerber wie Yara International. Die Norweger setzen jetzt auf Zukäufe und bringen mit einer milliardenschweren Übernahmeofferte womöglich die zweite große Konsolidierungswelle in der Branche ins Rollen.
Milliardengebot an Terra-Aktionäre
Der K+S-Konkurrent will sein Nordamerika-Geschäft über einen milliardenschweren Zukauf stärken, wie Yara-Chef Ole Haslestad erklärte. Yara bietet 4,1 Milliarden Dollar für den US-Düngemittelanbieter Terra Industries. Der Kaufpreis soll in bar beglichen und teilweise über eine Kapitalerhöhung finanziert werden. Die norwegische Regierung - größter Yara-Eigner mit einem Anteil von 36 Prozent - hat bereits ihre Bereitschaft zur Teilnahme an einer solchen Kapitalerhöhung signalisiert. Der angebotene Kaufpreis lag zum Abgabezeitpunkt knapp 24 Prozent über dem Schlusskurs der Terra-Aktie, die daraufhin sofort in die Höhe schoss, während Yara-Titel deutliche Einbußen hinnehmen mussten. Dabei zählt die Yara-Aktie zu den günstigsten des Sektors, wird lediglich mit dem 13-fachen des für 2010 erwarteten Gewinns gehandelt.
K+S das nächste Übernahmeziel?
Händler verweisen darauf, dass die Konsolidierung in der Branche nun an Dynamik gewinnen könnte. Terra wurde schon länger als Übernahmekandidat gehandelt. CF Industries Holdings aus Deerfield bei Chicago hatte erst kürzlich einen feindlichen Übernahmeversuch abbrechen müssen. Erst im vergangenen Jahr war die bereits eingangs erwähnte K+S ebenfalls in die Offensive gegangen und hatte den US-amerikanischen Salzproduzenten Morton Salt übernommen. Doch auch wenn K+S bislang eine aktive Rolle in der Branchenkonsolidierung gespielt hat - die Kasseler gelten selbst ebenfalls als potenzielles Ziel.
Im internationalen Vergleich ist der DAX-Konzern nämlich keinesfalls ein Schwergewicht. Mit nicht einmal neun Milliarden Euro bringt das Unternehmen gerade einmal ein Drittel des Gewichts von Potash auf die Börsenwaage. Die Kanadier könnten angesichts des jüngsten Yara-Vorstoßes nun geneigt sein in den Markt einzugreifen, um ihre Position zu festigen. Anleger sollten allerdings eher auf den potenziellen Übernahmekandidaten K+S setzen als auf den möglichen Käufer Potash, der mit einem 2010er-KGV in Höhe von 24 bereits mit einer satten Prämie zur Peer Group gehandelt wird.
Mosaic zeigt höchstes Potenzial
Doch wenn schon Potash derzeit kein Kauf ist, dann vielleicht der US-Konkurrent Mosaic. Tatsächlich ist das Unternehmen mit Sitz in Plymouth im Bundesstaat Minnesota nicht nur günstiger bewertet - das 2010er-KGV liegt bei 15 -, es weist auch im Peer-Group-Vergleich das höchste Erholungspotenzial auf. Analysten rechnen damit, dass das Management des an der New Yorker Börse notierten Unternehmens den Gewinn auf Jahressicht auf 1,41 Milliarden Euro mehr als verdoppeln kann. Für das laufende Geschäftsjahr (endet im Mai) wird immerhin mit einem Überschuss in Höhe von 690 Millionen Euro gerechnet. Die Aktie hat einen Teil dieser Wachstumsfantasie eingepreist und zuletzt deutlich an Wert gewonnen. Dennoch können sich Anleger den Titel ins Depot legen. Goldman Sachs hat das Kursziel zuletzt auf 68 Dollar angehoben und die Aktie von "Neutral" auf "Buy" hochgestuft.
Branchenzwerg zum Mitnehmen
Sollte der Appetit der Großen nur klein sein, könnten sie bei Migao zuschlagen. Der chinesische Hersteller von Kaliumchlorid - auch Pottasche genannt - ist mit einer Marktkapitalisierung von 0,26 Milliarden Euro ein Branchenzwerg und ein günstiger dazu: So wird die Aktie des an der Börse in Toronto gelisteten Unternehmens derzeit lediglich mit dem 9-fachen des für 2010 erwarteten Gewinns gehandelt. Elf von zwölf Analysten empfehlen den Titel zum Kauf. Der Konzern dürfte vor allem von einer Stabilisierung der Preise für Pottasche profitieren. Anlässlich der Vorlage der Drittquartalszahlen zeigte sich das Management zuversichtlich, dass der Boden nun erreicht sei und es mit den Preisen wieder aufwärts gehen würde. Wenngleich die Aktie aufgrund des geringen Börsenwertes spekulativ ist, so wirkt doch der Umstand, dass in der Firmenkasse liquide Mittel in Höhe von 128 Millionen Kanadische Dollar schlummern, beruhigend.
Erholungstendenzen absehbar
Die gesamte Branche dürfte im laufenden Jahr eindeutige Erholungstendenzen erkennen lassen. Übernahmen sind aufgrund der nach wie vor niedrigen Kurse wahrscheinlicher geworden. Vorsichtige Anleger legen sich Papiere von K+S sowie Yara ins Depot. Mosaic ist eine Spur spekulativer, während Migao als Hot-Stock einzustufen ist. Potash hingegen ist aufgrund der hohen Bewertung derzeit bestenfalls eine Halteposition.
29.06.2010 14:32
UPDATE 1-Migao to build 40,000 tonne production facility
* Says expansion to double capacity at Changchun Migao
* Says facility scheduled for completion in Q4 of CY11
June 29 (Reuters) - Specialty fertilizer maker Migao Corp said it will construct a new 40,000 tonne per year potassium sulphate fertilizer production facility at its existing Changchun Migao location in Jilin Province, China, spending about C$5 million.
'The expansion doubles our production capacity at this location and, taking into account other construction projects well under way at other locations in China, will result in a 30 percent increase in Migao's total production capacity,' Chief Executive Liu Guocai said in a statement.
The new production facility is scheduled for completion in the fourth quarter of calendar 2011.
China-based Migao, which currently produces 320,000 tonnes of its two core potash-based fertilizers, expects to reach production capacity of 420,000 tonnes by 2011, resulting from expansion plans.
UPDATE 1-Migao to build 40,000 tonne production facility
* Says expansion to double capacity at Changchun Migao
* Says facility scheduled for completion in Q4 of CY11
June 29 (Reuters) - Specialty fertilizer maker Migao Corp said it will construct a new 40,000 tonne per year potassium sulphate fertilizer production facility at its existing Changchun Migao location in Jilin Province, China, spending about C$5 million.
'The expansion doubles our production capacity at this location and, taking into account other construction projects well under way at other locations in China, will result in a 30 percent increase in Migao's total production capacity,' Chief Executive Liu Guocai said in a statement.
The new production facility is scheduled for completion in the fourth quarter of calendar 2011.
China-based Migao, which currently produces 320,000 tonnes of its two core potash-based fertilizers, expects to reach production capacity of 420,000 tonnes by 2011, resulting from expansion plans.
TORONTO, ONTARIO -- (Marketwire) -- 08/10/10 -- Migao Corporation (TSX: MGO), a China-based leading specialty potash fertilizer producer, today reported financial results for the first quarter ended June 30, 2010.
Migao reported revenues of $66.3 million (RMB 440.0 million) for the 3-months ended June 30, 2010 as compared to revenues of $58.9 million (RMB 344.8 million) for the three-month period ended June 30, 2009. For the quarter, the Company reported net income of $8.9 million or $0.17 per basic share as compared to net income of $9.6 million or $0.21 per basic share. The revenue improvement is attributed to increased product sales by volume compared to the same period last year. The decrease in net income was primarily a result of increased taxes as Migao's subsidiaries complete various tax free and tax-reduced programs in China.
Migao reported revenues of $66.3 million (RMB 440.0 million) for the 3-months ended June 30, 2010 as compared to revenues of $58.9 million (RMB 344.8 million) for the three-month period ended June 30, 2009. For the quarter, the Company reported net income of $8.9 million or $0.17 per basic share as compared to net income of $9.6 million or $0.21 per basic share. The revenue improvement is attributed to increased product sales by volume compared to the same period last year. The decrease in net income was primarily a result of increased taxes as Migao's subsidiaries complete various tax free and tax-reduced programs in China.
Migao Corporation, based in China, produces specialty potash-based fertilizers for the high-value agricultural Chinese market. The Company was established in 2003 and has consistently grown in revenue and profitably.
Migao is positioned to become the leading producer of specialty potash fertilizer for the Chinese market. The Company is currently producing its two core products – potassium nitrate and potassium sulphate, at four operating locations in China.
China is the largest consumer of fertilizers in the world. Demand for improved crop yield, higher quality food, and more variety is fueling the growth of the fertilizer market in China. There is very little naturally occurring potash in China. Of the three principal fertilizer nutrients (nitrogen, phosphate, and potash), potash is the least readily available in the country. Migao's patented technology allows the Company to offer a consistent and reliable supply of high quality fertilizers which are ideal for high-value crops such as fruits and vegetables, tobacco, and cotton.
http://www.migaocorp.com/about_profile.html
Migao is positioned to become the leading producer of specialty potash fertilizer for the Chinese market. The Company is currently producing its two core products – potassium nitrate and potassium sulphate, at four operating locations in China.
China is the largest consumer of fertilizers in the world. Demand for improved crop yield, higher quality food, and more variety is fueling the growth of the fertilizer market in China. There is very little naturally occurring potash in China. Of the three principal fertilizer nutrients (nitrogen, phosphate, and potash), potash is the least readily available in the country. Migao's patented technology allows the Company to offer a consistent and reliable supply of high quality fertilizers which are ideal for high-value crops such as fruits and vegetables, tobacco, and cotton.
http://www.migaocorp.com/about_profile.html
Trading Spotlight
TORONTO, ONTARIO -- (Marketwire) -- 01/05/11 -- Migao Corporation (TSX: MGO), a leading producer of specialty potash fertilizers for the Chinese market, is pleased to announce that it will be constructing a new 100,000 tonne per year specialty compound fertilizer production facility at a new location in Zunyi, Guizhou Province, China.
"One of the largest tobacco companies in China has expressed interest in purchasing large quantities of our specialty compound fertilizer. The compound fertilizer we produce at Sichuan Migao meets their requirements and we are confident that we will supply the entire 100,000 tonne output on an annual basis," said Mr. Liu Guocai, Migao's President and CEO. "We have changed the location and increased the amount of land we had previously secured in return for a more desirable location. It is situated within 800 metres of a rail line and ideal for the intended operation of producing specialty compound fertilizer."
The new 100,000 tonne per year specialty compound fertilizer production facility will be built in two modules with the initial 50,000 tonne module scheduled for completion by the end of this year. The Zunyi facility will incorporate processing improvements learned from the Sichuan compounding facility. The new location and increased amount of land will accommodate further expansion beyond the planned 100,000 tonne facility. The capital budget to complete the two phases, including new land use rights is approximately CAD $15 million.
Zunyi Migao is a wholly owned subsidiary and when fully operating, will produce 100,000 tonnes of specialty compound nitrogen, phosphate, potassium, and other mineral and nutrient blends annually. Migao has an existing 100,000 tonne specialty compound fertilizer facility operating at full capacity at its Sichuan location.
Migao is currently producing at full capacity, 320,000 tonnes of its two core potash-based fertilizers. With the addition of a 40,000 tonne potassium nitrate 50/50 joint venture with SQM, a new 40,000 tonne potassium sulphate facility near Shanghai in early 2011, and a 40,000 tonne potassium sulphate expansion at Changchun Migao later this year, Migao will have net production capacity of 420,000 tonnes. This figure does not include the co-products ammonium chloride or hydrochloric acid nor does it include 200,000 tonnes of specialty compound fertilizer produced annually at Sichuan Migao and Zunyi Migao.
"One of the largest tobacco companies in China has expressed interest in purchasing large quantities of our specialty compound fertilizer. The compound fertilizer we produce at Sichuan Migao meets their requirements and we are confident that we will supply the entire 100,000 tonne output on an annual basis," said Mr. Liu Guocai, Migao's President and CEO. "We have changed the location and increased the amount of land we had previously secured in return for a more desirable location. It is situated within 800 metres of a rail line and ideal for the intended operation of producing specialty compound fertilizer."
The new 100,000 tonne per year specialty compound fertilizer production facility will be built in two modules with the initial 50,000 tonne module scheduled for completion by the end of this year. The Zunyi facility will incorporate processing improvements learned from the Sichuan compounding facility. The new location and increased amount of land will accommodate further expansion beyond the planned 100,000 tonne facility. The capital budget to complete the two phases, including new land use rights is approximately CAD $15 million.
Zunyi Migao is a wholly owned subsidiary and when fully operating, will produce 100,000 tonnes of specialty compound nitrogen, phosphate, potassium, and other mineral and nutrient blends annually. Migao has an existing 100,000 tonne specialty compound fertilizer facility operating at full capacity at its Sichuan location.
Migao is currently producing at full capacity, 320,000 tonnes of its two core potash-based fertilizers. With the addition of a 40,000 tonne potassium nitrate 50/50 joint venture with SQM, a new 40,000 tonne potassium sulphate facility near Shanghai in early 2011, and a 40,000 tonne potassium sulphate expansion at Changchun Migao later this year, Migao will have net production capacity of 420,000 tonnes. This figure does not include the co-products ammonium chloride or hydrochloric acid nor does it include 200,000 tonnes of specialty compound fertilizer produced annually at Sichuan Migao and Zunyi Migao.
TORONTO, ONTARIO -- (Marketwire) -- 01/19/11 -- Migao Corporation (TSX: MGO), a leading producer of specialty potash fertilizers for the Chinese market, and Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM)(Santiago Stock Exchange: SQM-B, SQM-A) of Santiago, Chile, the world's largest producer and distributor of potassium nitrate, are pleased to announce the start of production at the newly constructed potassium nitrate joint venture (JV) in Sichuan, China.
Migao and SQM jointly own the JV 50/50. The JV will distribute any exports of potassium nitrate produced by Migao or the JV, as well as any imports of SQM's potassium nitrate to China. In addition, the JV will distribute any exports of products produced by Migao.
"This comes at a time when fertilizer demand is outpacing supply in China. This is especially evident in the specialty potash-based markets we supply," said Mr. Liu Guocai, Migao's CEO. "This venture with SQM further reinforces our dominant position as China's largest potassium nitrate producer."
The new 40,000 tonne per year potassium nitrate production capacity from the JV is in addition to Migao's 80,000 tonne per year production at its wholly owned Sichuan Migao facility.
Migao is also pleased to announce that construction of a 40,000 tonne per year potassium sulphate facility at the Company's wholly owned subsidiary, Shanghai Migao, is scheduled to be completed this quarter with production commencing in March. Including the joint venture with SQM and the new Shanghai facility, Migao's production capacity is 380,000 tonnes per year of combined potassium nitrate and potassium sulphate. Including specialty NPK facilities and other scheduled construction projects, Migao's capacity will be 570,000 tonnes by the end of calendar 2011.
Migao and SQM jointly own the JV 50/50. The JV will distribute any exports of potassium nitrate produced by Migao or the JV, as well as any imports of SQM's potassium nitrate to China. In addition, the JV will distribute any exports of products produced by Migao.
"This comes at a time when fertilizer demand is outpacing supply in China. This is especially evident in the specialty potash-based markets we supply," said Mr. Liu Guocai, Migao's CEO. "This venture with SQM further reinforces our dominant position as China's largest potassium nitrate producer."
The new 40,000 tonne per year potassium nitrate production capacity from the JV is in addition to Migao's 80,000 tonne per year production at its wholly owned Sichuan Migao facility.
Migao is also pleased to announce that construction of a 40,000 tonne per year potassium sulphate facility at the Company's wholly owned subsidiary, Shanghai Migao, is scheduled to be completed this quarter with production commencing in March. Including the joint venture with SQM and the new Shanghai facility, Migao's production capacity is 380,000 tonnes per year of combined potassium nitrate and potassium sulphate. Including specialty NPK facilities and other scheduled construction projects, Migao's capacity will be 570,000 tonnes by the end of calendar 2011.
TORONTO, ONTARIO -- (Marketwire) -- 02/10/11 -- Migao Corporation (TSX: MGO), a China-based leading specialty potash fertilizer producer, today reported financial results for the three and nine-month periods ended December 31, 2010.
Migao reported revenues of $64.6 million (RMB 424.7 million) for the 3-months ended December 31, 2010 as compared to revenues of $67.0 million (RMB 433.3 million) for the three-month period ended December 31, 2009. The decrease is attributed to lower sales volumes of the Company's non-core products including potassium chloride and value added potassium chloride as well as low grade potassium sulphate. For the nine months ended December 31, 2010, revenue increased to $199.3 million (RMB 1,310.6 million) compared to $193.6 million (RMB 1,199.4 million) for the same period of fiscal 2010.
For the quarter, the Company reported net income of $8.3 million or $0.16 per basic share as compared to net income of $8.7 million or $0.18 per basic share for the same quarter last year. The net income decline is attributed to an increased number of shares outstanding due to the December 10, 2009 bought deal public financing. Also impacting earnings are preproduction costs both associated with the SQM joint venture and the Shanghai facility as well as increased natural gas pricing which directly increased cost and indirectly increased cost for raw materials that are derived from natural gas. Lastly, higher effective tax rates also contributed to the decrease in net earnings compared to the same periods last year.
The current quarter ending March 31, 2011 is realizing increased volumes and prices as selling prices have been adjusted upward to reflect the increased raw material costs and sales from the Company's new joint venture potassium nitrate facility in Sichuan Province will be recognized in the current quarter. The Company expects continued strong profit margin for the balance of the year.
Migao reported revenues of $64.6 million (RMB 424.7 million) for the 3-months ended December 31, 2010 as compared to revenues of $67.0 million (RMB 433.3 million) for the three-month period ended December 31, 2009. The decrease is attributed to lower sales volumes of the Company's non-core products including potassium chloride and value added potassium chloride as well as low grade potassium sulphate. For the nine months ended December 31, 2010, revenue increased to $199.3 million (RMB 1,310.6 million) compared to $193.6 million (RMB 1,199.4 million) for the same period of fiscal 2010.
For the quarter, the Company reported net income of $8.3 million or $0.16 per basic share as compared to net income of $8.7 million or $0.18 per basic share for the same quarter last year. The net income decline is attributed to an increased number of shares outstanding due to the December 10, 2009 bought deal public financing. Also impacting earnings are preproduction costs both associated with the SQM joint venture and the Shanghai facility as well as increased natural gas pricing which directly increased cost and indirectly increased cost for raw materials that are derived from natural gas. Lastly, higher effective tax rates also contributed to the decrease in net earnings compared to the same periods last year.
The current quarter ending March 31, 2011 is realizing increased volumes and prices as selling prices have been adjusted upward to reflect the increased raw material costs and sales from the Company's new joint venture potassium nitrate facility in Sichuan Province will be recognized in the current quarter. The Company expects continued strong profit margin for the balance of the year.
TORONTO, ONTARIO -- (Marketwire) -- 03/15/11 -- Migao Corporation (TSX: MGO), a leading producer of specialty potash fertilizers for the Chinese market, is pleased to announce an agreement with Potash Export Company for the supply of up to 500,000 tonnes of potash per year for ten years.
As part of the terms of the agreement, Migao will prepay USD $100 million, with further payments to be negotiated and advanced prior to the initial potash delivery in January 2013. Migao will receive preferential pricing on up to 500,000 tonnes of potash per year for 10 years. Preferential pricing will be determined based on a discount from certain and specific potash prices established between major potash suppliers and customers.
"This agreement secures our current and future potash needs at a meaningful discount to market prices," said Mr. Liu Guocai, Migao's CEO. "We believe this is the first such supply agreement in China with Potash Export Company and reinforces the strength of long-term relationships we have forged with our key suppliers."
Potash Export Company is a private entity established by Russian-based potash producers to market and distribute potash internationally. The potash supplied to Migao by Potash Export Company is meant for import into China exclusively.
"This commitment along with our planned and Board approved expansion plans are fully funded through existing cash and cash flow," continued Mr. Liu Guocai. "We feel this is the best use of our resources as a way to provide a compelling return as well as secure long term raw material needs."
By March 31, 2011, Migao's production capacity will be 380,000 tonnes per year of combined potassium nitrate and potassium sulphate, which requires approximately 300,000 tonnes of potash as raw material. Including new and planned specialty NPK facilities and other scheduled construction projects, Migao's capacity will be 570,000 tonnes by the end of calendar 2011.
Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of potassium nitrate, potassium sulphate and specialty compound fertilizers to China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.
As part of the terms of the agreement, Migao will prepay USD $100 million, with further payments to be negotiated and advanced prior to the initial potash delivery in January 2013. Migao will receive preferential pricing on up to 500,000 tonnes of potash per year for 10 years. Preferential pricing will be determined based on a discount from certain and specific potash prices established between major potash suppliers and customers.
"This agreement secures our current and future potash needs at a meaningful discount to market prices," said Mr. Liu Guocai, Migao's CEO. "We believe this is the first such supply agreement in China with Potash Export Company and reinforces the strength of long-term relationships we have forged with our key suppliers."
Potash Export Company is a private entity established by Russian-based potash producers to market and distribute potash internationally. The potash supplied to Migao by Potash Export Company is meant for import into China exclusively.
"This commitment along with our planned and Board approved expansion plans are fully funded through existing cash and cash flow," continued Mr. Liu Guocai. "We feel this is the best use of our resources as a way to provide a compelling return as well as secure long term raw material needs."
By March 31, 2011, Migao's production capacity will be 380,000 tonnes per year of combined potassium nitrate and potassium sulphate, which requires approximately 300,000 tonnes of potash as raw material. Including new and planned specialty NPK facilities and other scheduled construction projects, Migao's capacity will be 570,000 tonnes by the end of calendar 2011.
Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of potassium nitrate, potassium sulphate and specialty compound fertilizers to China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.
Migao Corporation ist ein toller Turnaround Wert.
Ebenso wie Asian Bamboo WKN: A0M6M7 und Dangdang WKN: A0YJWS
siehe Diskussionen zu Asian Bamboo WKN: A0M6M7 und Dangdang WKN: A0YJWS.
Migao Corporation Kursziel 5,80€ durchaus realistisch.
Ebenso wie Asian Bamboo WKN: A0M6M7 und Dangdang WKN: A0YJWS
siehe Diskussionen zu Asian Bamboo WKN: A0M6M7 und Dangdang WKN: A0YJWS.
Migao Corporation Kursziel 5,80€ durchaus realistisch.
Aktienrückkaufprogramm auch bei Migao Corporation:
Migao Approved for Normal Course Issuer Bid
TORONTO, ONTARIO -- (Marketwire) -- 06/15/11 -- Migao Corporation (the "Company") (TSX: MGO) announced today that the Toronto Stock Exchange ("TSX") has accepted its notice of intention to make a normal course issuer bid ("NCIB").
The notice provides that the Company may, during the 12-month period commencing June 17, 2011 and ending June 16, 2012, purchase up to 2,640,000 Common Shares in total, being approximately 4.99% of the Company's outstanding Common Shares. As of June 14, 2011, 52,890,661 Common Shares are outstanding. The aggregate number of Common Shares that the Company may purchase during any trading day will not exceed 45,657 Common Shares, being 25% of the average daily trading volume of the Common Shares based on the trading volume of the TSX for the most recently completed six calendar months preceding the date of the Company's notice of intention, subject to the Company's ability to make block purchases through the facilities of the TSX in accordance with the TSX rules.
The Company believes that the purchase of its Common Shares is a worthwhile, value added use of its resources.
....
bullish.
Migao Approved for Normal Course Issuer Bid
TORONTO, ONTARIO -- (Marketwire) -- 06/15/11 -- Migao Corporation (the "Company") (TSX: MGO) announced today that the Toronto Stock Exchange ("TSX") has accepted its notice of intention to make a normal course issuer bid ("NCIB").
The notice provides that the Company may, during the 12-month period commencing June 17, 2011 and ending June 16, 2012, purchase up to 2,640,000 Common Shares in total, being approximately 4.99% of the Company's outstanding Common Shares. As of June 14, 2011, 52,890,661 Common Shares are outstanding. The aggregate number of Common Shares that the Company may purchase during any trading day will not exceed 45,657 Common Shares, being 25% of the average daily trading volume of the Common Shares based on the trading volume of the TSX for the most recently completed six calendar months preceding the date of the Company's notice of intention, subject to the Company's ability to make block purchases through the facilities of the TSX in accordance with the TSX rules.
The Company believes that the purchase of its Common Shares is a worthwhile, value added use of its resources.
....
bullish.
Migao Announces Agreement for Refund of $US 100 Million Potash Prepayment
TORONTO, ONTARIO -- (Marketwire) -- 08/25/11 -- Migao Corporation (TSX: MGO), a leading producer of specialty potash fertilizers, is pleased to announce that the Company has negotiated with Potash Export Company ('PEC') for the refund of the prepayment advanced earlier this year described in Migao's press release of March 15, 2011.
PEC has agreed to refund the entire $US 100 million prepayment on a fixed schedule over the remainder of calendar 2011, with the first $US 30 million having now been refunded. $US 35 million is to be returned by October 31, 2011 and the remaining $US 35 million is to be refunded by December 31, 2011. The volume and price terms of the potash agreement will remain in effect; however Migao will negotiate financial prepayment terms on a date closer in time to the initial delivery, and in line with the Company's historical prepayment timelines. The initial deliveries of potash from PEC are expected to occur by January 2013.
"Before seeking the refund, we weighed very carefully the balance between public market conditions, shareholder value, our relationship with our suppliers, and long term business planning. We feel this refund serves Migao well by repatriating funds that can be used for continued expansion while still maintaining a healthy relationship with PEC," said Mr. Liu Guocai, Migao's CEO. "The funds allow us to remain committed to our international expansion strategy and domestic Chinese growth plans in an effort to increase shareholder value."
Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of potassium nitrate, potassium sulphate and specialty compound fertilizers to China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.
TORONTO, ONTARIO -- (Marketwire) -- 08/25/11 -- Migao Corporation (TSX: MGO), a leading producer of specialty potash fertilizers, is pleased to announce that the Company has negotiated with Potash Export Company ('PEC') for the refund of the prepayment advanced earlier this year described in Migao's press release of March 15, 2011.
PEC has agreed to refund the entire $US 100 million prepayment on a fixed schedule over the remainder of calendar 2011, with the first $US 30 million having now been refunded. $US 35 million is to be returned by October 31, 2011 and the remaining $US 35 million is to be refunded by December 31, 2011. The volume and price terms of the potash agreement will remain in effect; however Migao will negotiate financial prepayment terms on a date closer in time to the initial delivery, and in line with the Company's historical prepayment timelines. The initial deliveries of potash from PEC are expected to occur by January 2013.
"Before seeking the refund, we weighed very carefully the balance between public market conditions, shareholder value, our relationship with our suppliers, and long term business planning. We feel this refund serves Migao well by repatriating funds that can be used for continued expansion while still maintaining a healthy relationship with PEC," said Mr. Liu Guocai, Migao's CEO. "The funds allow us to remain committed to our international expansion strategy and domestic Chinese growth plans in an effort to increase shareholder value."
Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of potassium nitrate, potassium sulphate and specialty compound fertilizers to China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.
Thu Sep 8, 2011 10:43am EDT
* Fiscal Q1 EPS C$0.15 vs C$0.17 a year earlier
* Fiscal Q1 sales rise more than 50 percent
* Gross profit margins seen stronger going forward
* Investors want details on Russian supply deal
* Controversy over deal has led to plunge in share price (Adds comments on supply deal from conference call)
By Euan Rocha and Allison Martell
TORONTO, Sept 8 (Reuters) - Migao Corp's (MGO.TO) profit fell as maintenance shutdowns cut sales of some of its most profitable products, the Chinese fertilizer company said on Thursday, as investors await details about a mysterious supply deal that sent its shares plunging earlier this year.
Even as the Toronto-listed company's earnings slipped, its sales improved as it shipped higher volumes of potassium chloride, or potash. Migao uses potash to produce higher-margin crop nutrients such as potassium nitrate and potassium sulfate.
Migao came under intense scrutiny this year after it signed a supply deal with an undisclosed Russian potash supplier and agreed to prepay US$100 million toward future shipments.
The timing of the supply deal was also inopportune, as a slew of accounting scandals this year tainted the images of many Chinese companies with North American listings. Against that backdrop, investors had immediate misgivings about Migao's prepayment and the mystery surrounding the supplier. [ID:nN0997357] [ID:nN1E76D0RB]
The company's share price has fallen nearly 60 percent this year, despite its announcement last month that its Russian supplier would refund the prepayment made toward the supply deal. [ID:nN1E77P0H7]
"The company has since renegotiated the refund of the prepayment, which we view as a big positive, but has yet to reveal any pricing or counterparty details," said Dundee Capital Markets analyst Richard Kelertas, in a research note on Wednesday.
"We suspect the investment community will be expecting some further details, as do we."
Speaking on a conference call Wednesday, a senior Migao executive said the refund was thanks to the "excellent relationship" between the two companies.
"We are an important customer to potash suppliers and (the supplier) feels supporting us with the refund and maintaining supply terms of our contract, we can grow our potash needs significantly and further the strength of our combined commercial relationship," said Jay Hussey, vice-president of corporate finance.
Hussey said Migao is hopeful the supplier could share more information about itself later this year.
Migao has defended the potash deal, saying it would cut costs at a time when prices for the coveted commodity are rising along with pressure on food supplies.
MAINTENANCE COMPLETED
Net income in the first quarter ended June 30 slipped to C$7.8 million, or 15 Canadian cents a share, from C$8.8 million, or 17 Canadian cents a share, a year earlier.
Sales rose more than 50 percent to C$100.5 million.
Migao said on Thursday that the seasonal maintenance work conducted during the first quarter was successfully completed and it was ramping up to full production capacity.
"We have negotiated increased selling prices of our core fertilizers and are still enjoying strong pricing and demand for our specialty compound products," said Chief Executive Liu Guocai, in a statement.
Migao expects gross profit margins to revert to historical levels of between 22 percent and 24 percent, during the remainder of the year. Gross profit margins in most recent quarter were 17.1 percent. (Reporting by Euan Rocha; Editing by Frank McGurty)
* Fiscal Q1 EPS C$0.15 vs C$0.17 a year earlier
* Fiscal Q1 sales rise more than 50 percent
* Gross profit margins seen stronger going forward
* Investors want details on Russian supply deal
* Controversy over deal has led to plunge in share price (Adds comments on supply deal from conference call)
By Euan Rocha and Allison Martell
TORONTO, Sept 8 (Reuters) - Migao Corp's (MGO.TO) profit fell as maintenance shutdowns cut sales of some of its most profitable products, the Chinese fertilizer company said on Thursday, as investors await details about a mysterious supply deal that sent its shares plunging earlier this year.
Even as the Toronto-listed company's earnings slipped, its sales improved as it shipped higher volumes of potassium chloride, or potash. Migao uses potash to produce higher-margin crop nutrients such as potassium nitrate and potassium sulfate.
Migao came under intense scrutiny this year after it signed a supply deal with an undisclosed Russian potash supplier and agreed to prepay US$100 million toward future shipments.
The timing of the supply deal was also inopportune, as a slew of accounting scandals this year tainted the images of many Chinese companies with North American listings. Against that backdrop, investors had immediate misgivings about Migao's prepayment and the mystery surrounding the supplier. [ID:nN0997357] [ID:nN1E76D0RB]
The company's share price has fallen nearly 60 percent this year, despite its announcement last month that its Russian supplier would refund the prepayment made toward the supply deal. [ID:nN1E77P0H7]
"The company has since renegotiated the refund of the prepayment, which we view as a big positive, but has yet to reveal any pricing or counterparty details," said Dundee Capital Markets analyst Richard Kelertas, in a research note on Wednesday.
"We suspect the investment community will be expecting some further details, as do we."
Speaking on a conference call Wednesday, a senior Migao executive said the refund was thanks to the "excellent relationship" between the two companies.
"We are an important customer to potash suppliers and (the supplier) feels supporting us with the refund and maintaining supply terms of our contract, we can grow our potash needs significantly and further the strength of our combined commercial relationship," said Jay Hussey, vice-president of corporate finance.
Hussey said Migao is hopeful the supplier could share more information about itself later this year.
Migao has defended the potash deal, saying it would cut costs at a time when prices for the coveted commodity are rising along with pressure on food supplies.
MAINTENANCE COMPLETED
Net income in the first quarter ended June 30 slipped to C$7.8 million, or 15 Canadian cents a share, from C$8.8 million, or 17 Canadian cents a share, a year earlier.
Sales rose more than 50 percent to C$100.5 million.
Migao said on Thursday that the seasonal maintenance work conducted during the first quarter was successfully completed and it was ramping up to full production capacity.
"We have negotiated increased selling prices of our core fertilizers and are still enjoying strong pricing and demand for our specialty compound products," said Chief Executive Liu Guocai, in a statement.
Migao expects gross profit margins to revert to historical levels of between 22 percent and 24 percent, during the remainder of the year. Gross profit margins in most recent quarter were 17.1 percent. (Reporting by Euan Rocha; Editing by Frank McGurty)
FEB 14, 2012 - 07:30 ET
Migao Reports Fiscal 2012 Third Quarter Financial Results
TORONTO, ONTARIO--(Marketwire - Feb. 14, 2012) - Migao Corporation (TSX:MGO), a China-based leading specialty potash fertilizer producer, today reported financial results for the three and nine-month periods ended December 31, 2011.
For the third quarter ended December 31, 2011 Migao reported revenues of $97.4 million as compared to revenues of $64.6 million for the three-month period ended December 31, 2011. For the quarter, the Company reported net income of $3.8 million or $0.07 per basic share as compared to net income of $8.2 million or $0.16 per basic share for the same period one year ago.
The increase in revenue for the quarter ended December 31, 2011 is mainly due to higher selling prices of potassium sulphate, potassium nitrate, and potassium chloride, as well as higher sales volumes of potassium sulphate, potassium nitrate, potassium chloride, and specialty compound fertilizers.
The decrease in net earnings is due to increasing potash cost per tonne, higher direct sales of lower margin potassium chloride, as well as lower average selling price of hydrochloric acid. Net earnings were also impacted by start-up costs related to new project facilities.
Migao Reports Fiscal 2012 Third Quarter Financial Results
TORONTO, ONTARIO--(Marketwire - Feb. 14, 2012) - Migao Corporation (TSX:MGO), a China-based leading specialty potash fertilizer producer, today reported financial results for the three and nine-month periods ended December 31, 2011.
For the third quarter ended December 31, 2011 Migao reported revenues of $97.4 million as compared to revenues of $64.6 million for the three-month period ended December 31, 2011. For the quarter, the Company reported net income of $3.8 million or $0.07 per basic share as compared to net income of $8.2 million or $0.16 per basic share for the same period one year ago.
The increase in revenue for the quarter ended December 31, 2011 is mainly due to higher selling prices of potassium sulphate, potassium nitrate, and potassium chloride, as well as higher sales volumes of potassium sulphate, potassium nitrate, potassium chloride, and specialty compound fertilizers.
The decrease in net earnings is due to increasing potash cost per tonne, higher direct sales of lower margin potassium chloride, as well as lower average selling price of hydrochloric acid. Net earnings were also impacted by start-up costs related to new project facilities.
GB ist da; Q4 war mit Verlust
Gewinn in CAD hat sich fürs Gesamtjahr in etwa halbiert, im comprehensive income ist er aber sogar gestiegen...
Bewertung aktuell knapp über ein Drittel Buch, KGV 7,6 (bei CI-Betrachtung unter 4)...
Was tun?
Gewinn in CAD hat sich fürs Gesamtjahr in etwa halbiert, im comprehensive income ist er aber sogar gestiegen...
Bewertung aktuell knapp über ein Drittel Buch, KGV 7,6 (bei CI-Betrachtung unter 4)...
Was tun?
Antwort auf Beitrag Nr.: 43.346.212 von R-BgO am 03.07.12 09:50:22'ne Divi soll's auch bald geben:
On June 27, 2012, the Board of Director approved a quarterly cash dividend policy. The initial dividend is
anticipated to be declared in August 2012 with the payment date expected to be made in September 2012. The
annual cash dividend is expected to equal approximately $0.06 per share, representing a dividend yield of
approximately 2.6% based on the recent closing price of the Company’s shares. Any decision to declare and pay
dividends will be subject to the approval of the Board of Directors of the Company, in its sole and absolute
discretion, upon considering the Company’s earnings, financial and operational requirements and such other
factors as it deems advisable.
On June 27, 2012, the Board of Director approved a quarterly cash dividend policy. The initial dividend is
anticipated to be declared in August 2012 with the payment date expected to be made in September 2012. The
annual cash dividend is expected to equal approximately $0.06 per share, representing a dividend yield of
approximately 2.6% based on the recent closing price of the Company’s shares. Any decision to declare and pay
dividends will be subject to the approval of the Board of Directors of the Company, in its sole and absolute
discretion, upon considering the Company’s earnings, financial and operational requirements and such other
factors as it deems advisable.
TORONTO, ONTARIO -- (Marketwire) -- 11/15/12 -- Migao Corporation (TSX: MGO), a China-based specialty potash fertilizer producer, today reported financial results for the three and six-month periods ended September 30, 2012.
Revenues for the second quarter ended September 30, 2012 were $11.7 million as compared to revenues of $66.0 million for the three-month period ended September 30, 2011. For the quarter, the Company reported a net loss of $8.1 million or $0.15 per basic share as compared to net income of $6.0 million or $0.11 per basic share for the same period one year ago. The decline in revenue was impacted by several conditions that include continued weakness in hydrochloric acid market, seasonality of customer purchases, no sales of potassium chloride, and overall lower selling prices.
The net loss was a result of decreased volumes and selling prices of finished goods, which impacted absorption of fixed and variable costs. An inventory provision of $1.7 million made to reflect the valuation of some raw material and some finished goods further impacted earnings.
Revenues for the second quarter ended September 30, 2012 were $11.7 million as compared to revenues of $66.0 million for the three-month period ended September 30, 2011. For the quarter, the Company reported a net loss of $8.1 million or $0.15 per basic share as compared to net income of $6.0 million or $0.11 per basic share for the same period one year ago. The decline in revenue was impacted by several conditions that include continued weakness in hydrochloric acid market, seasonality of customer purchases, no sales of potassium chloride, and overall lower selling prices.
The net loss was a result of decreased volumes and selling prices of finished goods, which impacted absorption of fixed and variable costs. An inventory provision of $1.7 million made to reflect the valuation of some raw material and some finished goods further impacted earnings.
immer noch nicht pleite...
per 31.3.2015 sogar mal wieder ein Gewinn;
zwar nur 4% EK-Rendite, aber bei nur einem Zehntel Kurs-zu-Buch ergibt sich 40% auf den aktuellen Preis
=> KGV unter 3
ist das der eine China-Wert, bei dem optisch gute Zahlen auch zu einem guten ende führen könn(t)en?
oder kommt auch hier irgendwann nur der Betrug raus?
zwar nur 4% EK-Rendite, aber bei nur einem Zehntel Kurs-zu-Buch ergibt sich 40% auf den aktuellen Preis
=> KGV unter 3
ist das der eine China-Wert, bei dem optisch gute Zahlen auch zu einem guten ende führen könn(t)en?
oder kommt auch hier irgendwann nur der Betrug raus?
gegen mein Bauchgefühl mal eine kleine Wiedereinstiegsposition gekauft
Antwort auf Beitrag Nr.: 50.208.714 von R-BgO am 17.07.15 13:04:53
wenig Schulden und cash-flow positiv
WO ist der Haken?
beim aktuellen Kurs von 28c,
beträgt die market cap noch 14 MEUR oder 6% vom Buchwert...wenig Schulden und cash-flow positiv
WO ist der Haken?
Antwort auf Beitrag Nr.: 52.493.653 von R-BgO am 28.05.16 12:06:08
Item 2: Date of Material Change
June 7, 2016
Item 3: News Release
A news release disclosing the material change was issued by the Company through CNW in Toronto, Ontario, on June 7, 2016 and filed via SEDAR to the securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland
Item 4: Summary of Material Change
The Company announced, that it has signed a definitive arrangement agreement (the “Arrangement Agreement”) in connection with the proposed acquisition by 2521416 Ontario Inc. (“Purchaser”), a company wholly-owned indirectly by Mr. Liu Guocai, the Chief Executive Officer, President and principal shareholder of the Company, of all of the common shares of the Company (the “Shares”) not owned by Purchaser or its affiliates.
Item 5.1 Full Description of Material Change
The Company announced that it has signed an Arrangement Agreement in connection with the proposed acquisition by the Purchaser, of all of the Shares of the Company not owned by Purchaser or its affiliates. Pursuant to the Arrangement Agreement, the Shares would be acquired for cash consideration of $0.75 per Share through a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). The purchase price represents a 97.37% premium over the closing price of the Shares on the Toronto Stock Exchange (the “Exchange”) on June 6, 2016, and a 93.4% premium over the 20 trading-day volume-weighted average share price. All of the Company’s outstanding options will be cancelled upon completion of the Arrangement, and holders will be entitled to receive a cash amount equal to the amount by which the consideration exceeds the exercise price of such options, if any. All payments are subject to applicable withholding taxes, if any.
The Company formed a special committee (the “Special Committee”) comprised of independent directors to review and assess the proposed transaction. The Special Committee engaged Houlihan Lokey (China) Limited (“Houlihan Lokey”) to provide to the Special Committee, on behalf of the Board of Directors of the Company, a formal valuation as required under Multilateral Instrument 61-101 --Protection of Minority Securityholders In Special Transactions (“MI 61-101”). Houlihan Lokey also provided an opinion to the Special Committee, on behalf of the Board of Directors of the Company, to the effect that, as of the date of the opinion and based upon and subject to the assumptions, limitations, restrictions and qualifications therein, the consideration to be received by the shareholders (other than Purchaser and its affiliates) (“Minority Shareholders”) under the Arrangement pursuant to the Arrangement Agreement was fair to Minority Shareholders from a financial point of view. The full text of the valuation and fairness opinion will be contained in the in the Company’s information circular.
Based on the unanimous recommendation of the Special Committee, among other things, the Board of Directors of the Company has unanimously (i) determined that the Arrangement is fair to the Minority Shareholders and that the Arrangement is in the best interests of the Company; and (ii) recommended that shareholders vote in favour of the Arrangement. The Company intends to call a special meeting of its shareholders to be held on or about July 27, 2016 (the “Meeting”) to seek approval for the Arrangement.
Completion of the Arrangement is subject to, among other things, financing, customary conditions, including approval of at least 662⁄3% of the votes cast on a special resolution by shareholders of the Company present in person or represented by proxy at the Meeting, and a simple majority of the votes cast by shareholders present in person or represented by proxy at the Meeting (excluding shareholders whose votes are required to be excluded pursuant to MI 61-101), and the receipt of approval of the Superior Court of Justice of Ontario (Commercial List) and necessary regulatory approvals. Purchaser and its affiliates collectively hold approximately 34.2% of the outstanding Shares. Each of the directors and senior officers of the Company has advised the Company that they intend to vote all Shares owned by them in favour of the approval of the Arrangement.
The Arrangement Agreement includes customary deal protection provisions, including a right to match and non-solicitation provisions in favour of Purchaser. The Arrangement Agreement also provides for a mutual non-completion fee of $500,000 if the Arrangement Agreement is terminated in certain circumstances, including payment of such fee to the Company upon termination if the financing condition is not waived on or after July 22, 2016. Upon completion of the Arrangement, it is expected that the Company would be delisted from the Exchange and would cease to be a reporting issuer. The proposed Arrangement and related transactions will be more fully described in a management information circular and related proxy materials that will be distributed to shareholders and filed on SEDAR in advance of the Meeting in accordance with applicable corporate and securities laws. In accordance with the Arrangement Agreement, the closing of the transaction must occur by no later than September 6, 2016, subject to extension in accordance with the provisions of the Arrangement Agreement.
Blake, Cassels & Graydon LLP is acting as legal counsel to Purchaser. Dentons Canada LLP is acting as legal counsel to the Company. Stikeman Elliott LLP is acting as legal counsel to the Special Committee.
GRRRR!
...auf der Webseite ist seit fast einem Jahr nichts Neues mehr; heute habe ich mal in SEDAR reingeschaut:Item 2: Date of Material Change
June 7, 2016
Item 3: News Release
A news release disclosing the material change was issued by the Company through CNW in Toronto, Ontario, on June 7, 2016 and filed via SEDAR to the securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland
Item 4: Summary of Material Change
The Company announced, that it has signed a definitive arrangement agreement (the “Arrangement Agreement”) in connection with the proposed acquisition by 2521416 Ontario Inc. (“Purchaser”), a company wholly-owned indirectly by Mr. Liu Guocai, the Chief Executive Officer, President and principal shareholder of the Company, of all of the common shares of the Company (the “Shares”) not owned by Purchaser or its affiliates.
Item 5.1 Full Description of Material Change
The Company announced that it has signed an Arrangement Agreement in connection with the proposed acquisition by the Purchaser, of all of the Shares of the Company not owned by Purchaser or its affiliates. Pursuant to the Arrangement Agreement, the Shares would be acquired for cash consideration of $0.75 per Share through a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). The purchase price represents a 97.37% premium over the closing price of the Shares on the Toronto Stock Exchange (the “Exchange”) on June 6, 2016, and a 93.4% premium over the 20 trading-day volume-weighted average share price. All of the Company’s outstanding options will be cancelled upon completion of the Arrangement, and holders will be entitled to receive a cash amount equal to the amount by which the consideration exceeds the exercise price of such options, if any. All payments are subject to applicable withholding taxes, if any.
The Company formed a special committee (the “Special Committee”) comprised of independent directors to review and assess the proposed transaction. The Special Committee engaged Houlihan Lokey (China) Limited (“Houlihan Lokey”) to provide to the Special Committee, on behalf of the Board of Directors of the Company, a formal valuation as required under Multilateral Instrument 61-101 --Protection of Minority Securityholders In Special Transactions (“MI 61-101”). Houlihan Lokey also provided an opinion to the Special Committee, on behalf of the Board of Directors of the Company, to the effect that, as of the date of the opinion and based upon and subject to the assumptions, limitations, restrictions and qualifications therein, the consideration to be received by the shareholders (other than Purchaser and its affiliates) (“Minority Shareholders”) under the Arrangement pursuant to the Arrangement Agreement was fair to Minority Shareholders from a financial point of view. The full text of the valuation and fairness opinion will be contained in the in the Company’s information circular.
Based on the unanimous recommendation of the Special Committee, among other things, the Board of Directors of the Company has unanimously (i) determined that the Arrangement is fair to the Minority Shareholders and that the Arrangement is in the best interests of the Company; and (ii) recommended that shareholders vote in favour of the Arrangement. The Company intends to call a special meeting of its shareholders to be held on or about July 27, 2016 (the “Meeting”) to seek approval for the Arrangement.
Completion of the Arrangement is subject to, among other things, financing, customary conditions, including approval of at least 662⁄3% of the votes cast on a special resolution by shareholders of the Company present in person or represented by proxy at the Meeting, and a simple majority of the votes cast by shareholders present in person or represented by proxy at the Meeting (excluding shareholders whose votes are required to be excluded pursuant to MI 61-101), and the receipt of approval of the Superior Court of Justice of Ontario (Commercial List) and necessary regulatory approvals. Purchaser and its affiliates collectively hold approximately 34.2% of the outstanding Shares. Each of the directors and senior officers of the Company has advised the Company that they intend to vote all Shares owned by them in favour of the approval of the Arrangement.
The Arrangement Agreement includes customary deal protection provisions, including a right to match and non-solicitation provisions in favour of Purchaser. The Arrangement Agreement also provides for a mutual non-completion fee of $500,000 if the Arrangement Agreement is terminated in certain circumstances, including payment of such fee to the Company upon termination if the financing condition is not waived on or after July 22, 2016. Upon completion of the Arrangement, it is expected that the Company would be delisted from the Exchange and would cease to be a reporting issuer. The proposed Arrangement and related transactions will be more fully described in a management information circular and related proxy materials that will be distributed to shareholders and filed on SEDAR in advance of the Meeting in accordance with applicable corporate and securities laws. In accordance with the Arrangement Agreement, the closing of the transaction must occur by no later than September 6, 2016, subject to extension in accordance with the provisions of the Arrangement Agreement.
Blake, Cassels & Graydon LLP is acting as legal counsel to Purchaser. Dentons Canada LLP is acting as legal counsel to the Company. Stikeman Elliott LLP is acting as legal counsel to the Special Committee.
Antwort auf Beitrag Nr.: 52.719.526 von R-BgO am 29.06.16 09:57:07
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