KHD Humboldt Wedag International - 500 Beiträge pro Seite

[MFC500]

Profil

KHD owns companies that operate internationally in the industrial plant engineering and equipment supply industry, and specializes in the cement industry. The Company has offices in Cologne, Delhi, Dessau, Atlanta and Vienna, with subsidiaries around the world.

Unternehmensentwicklung

In den zurückliegenden Jahren konnte KHD kontinuierlich und sehr profitabel wachsen:



Das hat sich entsprechend im Aktienkurs widergespiegelt:




Natürlich leidet auch dieses Unternehmen unter den aktuellen wirtschaftlichen Rahmenbedingungen. Dennoch werden weiterhin schwarze Zahlen geschrieben. So wurden im 3.Quartal ein Umsatz von $148 Mio und ein Nettogewinn von $7,5 Mio bzw 25 Cent/Aktie erzielt (Vorjahr $194 Mio Umsatz und $30,8 Mio bzw $1,01/Aktie Nettogewinn).

Nach 9 Monaten betrug der Umsatz $366 Mio, der Nettogewinn $1,2 Mio bzw 4 Cent/Aktie erzielt (Vorjahr $474 Mio Umsatz und $57,9 Mio bzw $1,89/Aktie Nettogewinn).

Zu beachten ist hierbei, daß die 9-Monatszahlen durch Einmalbelastungen verzerrt sind. Details können der ausführlichen Mitteilung zum 3.Quartal entnommen werden: http://www.khdhumboldt.com/phoenix.zhtml?c=92949&p=irol-news…

Bewertung/Fazit

Die Marktkapitalisierung beträgt rund $365 Mio bei einem Kurs von 12 Dollar. Demgegenüber verfügt das Unternehmen über mehr als $401 Mio Netto-Cash (ohne 27 Mio restricted cash), d.h. das - profitable - Unternehmen gibt es derzeit "gratis". Sobald die Weltwirtschaft sich wieder besser darstellt, dürfte auch KHD auf den Wachstumspfad zurückkehren, was entsprechendes Kurspotential eröffnen würde. Aufgrund der hervorragenden Finanzausstattung ergibt sich ein sehr attraktives Chancen-Risiko-Verhältnis


weiterführende Informationen

Homepage: http://www.khd.com/

SEC-Filings: http://www.khdhumboldt.com/phoenix.zhtml?c=92949&p=irol-sec

Unternehmensmeldungen: http://finance.yahoo.com/q?s=khd

Präsentation: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9M…

[MFC500]

Die erste Graphik ist etwas kleingeraten, was daran liegt, daß eine Vorschau des gesamten Postings aufgrund einer Fehlermeldung ("kein registriertes Mitglied usw") nicht möglich war. Hier nun die lesbare Variante:

[zuzi]

Antwort auf Beitrag Nr.: 38.441.260 von MFC500 am 23.11.09 21:32:54

ein frohes fest

[MFC500]

KHD Humboldt Wedag International Ltd. to Increase Shareholders' Value by Dividing the Company Into Two Entities

A Mineral Royalty Company and an Industrial Plant Technology, Equipment and Service Company -

Jan 06, 2010

Based on a study undertaken to determine ways to best enhance long term shareholder value, the Board of Directors of KHD Humboldt Wedag International Ltd. ("KHD" or the "Company") (NYSE: KHD) today announces that it intends to restructure the KHD into two distinct legal entities: (1) a mineral royalty company and (2) an industrial plant technology, equipment and service company (the "Arrangement"). Subject to receipt of all necessary approvals, the transactions will take place by way of a distribution to KHD's shareholders, on a pro rata basis, of all of KHD's common shares of its subsidiary, KHD Humboldt Wedag (Deutschland) AG ("KID"), which will own all of KHD's industrial plant technology, equipment and service assets.
Under the proposed structure, the new mineral royalty company, which would change its name from KHD to Terra Nova Royalty Corporation ("Terra Nova"), would continue to receive royalty payments from the Wabush Iron Ore Mine (the "Wabush") in the province of Newfoundland and Labrador, Canada under a master lease that terminates in the year 2055. Wabush has been a producing mine since 1956, and currently has proven reserves of 75 million tons representing approximately 15-year production based on historical production. Management intends to institute a dividend policy for Terra Nova shareholders. Terra Nova intends to focus on:


acquiring additional existing mineral royalties;
providing capital for the exploration, development and construction of iron ore and other metals mines in exchange for royalties;
monetizing metal by-product streams from either operating mines or projects under development; and
providing acquisition financing to established operating companies in return for a royalty on acquired properties.

Subject to obtaining all necessary approvals, Terra Nova intends to maintain its listing on the New York Stock Exchange (the "NYSE") and will continue to trade the "regular way".

Concurrently all of KHD's industrial plant technology, equipment and service operations, KID, will be listed on the regulated market of the Frankfurt Stock Exchange (the "FSE"). Management will focus on enhancing the traditional cement business through an expansion of current activities in the rapidly growing Indian market. This company will further strengthen its operational and management base in New Delhi, India, as well as add additional resources in other fast-growing emerging markets such as Russia. The company's main engineering centre of excellence in Cologne, Germany will have a primary focus on developing further the company's leading process know-how and product engineering capabilities.

KID will also forge strategic alliances with complementary international partners to offer innovative solutions, including engineering procurement construction solutions, and develop new, environmentally friendly technologies for our customer base.

A subsequent European public offering of KID shares is planned to be completed for an additional ten percent of its capital in order to create greater liquidity in the European market, and the KID shares will begin trading on the FSE on a "when-issued" basis. The FSE listing of KID is expected to be completed in March, 2010.

The two companies resulting from the Arrangement will have the following attributes that will contribute to maximizing market value and creating additional long-term value for KHD shareholders. All dollar figures are in U.S. dollars on a pro form basis:

(1) Terra Nova(Mineral Royalty Business)

Base for growth through acquisitions of other royalty streams.
Experienced management.
Debt free.
Cash of US$113 million.
Existing royalty stream now enhanced with a single owner, stated capital expenditures, expanded workforce, increased production and a new and enhanced reserve calculation.
Updated reserves of 75 million tons of iron ore with an estimated mine life of at least 15 years based on historical production.
Dividend policy.

(2) KID (Industrial Plant Technology, Equipment and Service Business)

Experienced management team which has completed an internal restructuring after the recent financial crisis.
Enhanced customer care by adding new customer service centers and resources in the growing emerging markets.
Primary focus on the fast developing Indian market.
Additional management and operational resources in New Delhi, India.
The centre of excellence for process and product engineering in Cologne, Germany will be strengthened in order to add growth in quality engineering.
Expanded business model for service and spare parts to capitalize on KHD's installed base of over 490 cement plants worldwide and to complement existing operations.
Strategic alliances with international partners to develop and market new technologies with a strong environmental focus.
Strategic alliances with international partners to offer EPC solutions to our customers.
Technology driven, primarily in the environmental, pyro-processing and grinding areas.
Adequate bonding lines.

The Company commented, "We have studied various ways to increase value for KHD's shareholders and we believe that through this transaction, the sum of the parts has greater value than the whole. What precipitated us to take this action now were the significant changes at Wabush. Cliffs Natural Resources Inc. recently announced that it would acquire a 100 percent stake in the mine from its two partners, and also updated existing reserves to 75 million tons of iron ore which implies an estimated mine life of at least 15 years based on historical production. This changed the way we looked at the new now more clearly defined segments of KHD." Canadian and United States shareholders of KHD are urged to consult their tax advisors with respect to federal, local and foreign tax consequences.

KHD intends to hold investor information meetings during the third week of February 2010.

http://phoenix.corporate-ir.net/phoenix.zhtml?c=92949&p=irol…

[jerobeam]

http://investment-income.net/khd-humboldt-wedag-internationa…

Die KHD Service (DE0006052905) würde sich darüber hinaus für einen Squeeze-out eignen.

[MFC500]

Antwort auf Beitrag Nr.: 38.793.944 von jerobeam am 22.01.10 18:33:31

da scheint noch jemand auf diesen Value-Titel aufmerksam geworden zu sein.

zu KHD Service: auf ein Abfindungsangebot würde ich hier nicht spekulieren. Hätten sie derartige Pläne (gehabt), wären sie wohl vor Aufnahme des Service-Geschäftes umgesetzt worden.

[Frkst]

Neuer Artikel und Einschätzung von heute zur möglichen Aufsplittung von KHD:

http://seekingalpha.com/article/187505-khd-humboldt-wedag-in…

Kurs in den Staaten reagiert darauf auch positiv.

[jerobeam]

Frkst,

Hauptdiskussion findet momentan hier statt:
http://www.wallstreet-online.de/diskussion/978271-1351-1360/…
Man liest sich

[MFC500]

March 4 2010

KHD Humboldt Wedag International Ltd. ("KHD") announced on January 6, 2010 that it intended to restructure KHD into two distinct legal entities through the distribution to KHD's shareholders, on a pro rata basis, of all the common shares of its subsidiary, KHD Humboldt Wedag (Deutschland) AG ("KID") (the "Arrangement"). After the Arrangement, it was expected that KHD would be divided into a mineral royalty company and an industrial plant technology, equipment and service company.

KHD has now determined that the most fiscally responsible way for KHD and its shareholders to effect the distribution of the KID shares is in several tranches. This structure will minimize the tax impact to KHD and its shareholders.

First Tranche Summary and Time Line

- Receive one (1) KID share for every three and half (3 1/2) KHD shares (calculated after a 2 for 1 forward split, subject to KID shareholder approval).

- Additional distributions of KID shares expected by the end of the year.

- Initial percentage of KID shares distributed 26%

- Shareholders meeting date for approval March 29, 2010

- Ex- dividend date March 30, 2010

- Distribution date of shares March 31, 2010

- Listing date for KID shares on the Frankfurt Stock Exchange March 31, 2010

- Stock Symbol KWG.F

To obtain greater liquidity and shareholder awareness for the KID shares, KID will offer a placement of 10% of its shares in Europe. To assist US citizens to trade the KID shares, KHD is planning on establishing a level 1 American Deposit Receipts (ADR) program in the United States.

Under the current structure, the mineral royalty company would change its name from KHD to Terra Nova Royalty Corporation ("Terra Nova") and will focus on:

- the acquisition of existing mineral royalties;
- providing capital for the exploration, development and construction of iron ore and other metals mines in exchange for royalties;
- monetizing metal by-product streams from either operating mines or projects under development; and
- providing acquisition financing to established operating companies in return for a royalty on acquired properties.

Terra Nova intends to maintain its listing on the New York Stock Exchange (the "NYSE") and will continue to trade the "regular way." If all necessary conditions are satisfied, Terra Nova expects that, in the future, it will no longer have to consolidate KID in its financial results.

Concurrently KID, which will hold all of KHD's industrial plant technology, equipment and service operations, will be listed on the regulated market of the Frankfurt Stock Exchange (the "FSE"). Management will focus on enhancing the traditional cement business through an expansion of current activities in the rapidly growing Indian market. This company will further strengthen its operational and management base in New Delhi, India, as well as add additional resources in other fast-growing emerging markets such as Russia. The company's main engineering centre of excellence in Cologne, Germany will have a primary focus on further developing the company's leading process know-how and product engineering capabilities.

The Company commented, "We have studied various ways to increase value for KHD's shareholders and we believe that through this transaction, the sum of the parts has greater value than the whole."

On March 1, 2010, KHD entered into an Arrangement Agreement with KID, effective as of February 26, 2010, which sets out the terms under which KHD and KID will effect the Arrangement. As previously announced, the proposed Arrangement requires court approval under the provisions of the British Columbia Business Corporations Act, as well as approval by the shareholders of KHD and the satisfaction of other statutory requirements customary for transactions of this type. On March 1, 2010, KHD obtained an interim order from the Supreme Court of British Columbia providing, amongst other things, for the calling and holding of a special meeting (the "Meeting") of shareholders of KHD to seek approval for the Arrangement.

KHD previously announced that it expected to hold the Meeting on March 22, 2010, however the Meeting will now be held on Monday, March 29, 2010 at 9:00 a.m. (Pacific time). Materials pertaining to the Meeting, including a management information circular (the "Information Circular"), will be mailed to the shareholders of KHD on or about March 3, 2010. The Information Circular will be filed with the Securities and Exchange Commission at http://www.sec.gov/ and with Canadian securities regulators on SEDAR at http://www.sedar.com/ on March 3, 2010.

http://finance.yahoo.com/news/Update-on-Dividing-KHD-Into-pr…

[MFC500]

March 26, 2010 /PRNewswire via COMTEX/ -- KHD Humboldt Wedag International Ltd. (NYSE: KHD) today announced results for the fourth quarter and year ended December 31, 2009. All dollar figures are in U.S. dollars.
Revenues in the fourth quarter of 2009 were $210.2 million, an increase of 41.8 percent compared with the third quarter of 2009. Gross profit, excluding the impact of terminated contracts, was $48.1 million, this was due to improved project execution and the completion of several projects in the fourth quarter. New order intake of $96.7 million in the fourth quarter showed improvement over the third quarter of 2009 and was the highest quarterly new order intake achieved in 2009 for the continuing cement operations.

For the year ended December 31, 2009, KHD reported revenues of $576.4 million with a net income of $40.7 million, or $1.34 per share on a diluted basis, which included restructuring charges. This compares to revenues in 2008 of $638.4 million and net loss for that period of $7.0 million, or a loss of $0.23 per share on a diluted basis. When taking into account only revenues and cost of revenues, without considering the effects of cancelled contracts, the gross profit margin for the year ended December 31, 2009 was 20.6 percent as compared to 19.1 percent for the same period in 2008. Considering the effect from cancelled contracts, gross profit margin increased from 14.1 percent in 2008 to 23.7 percent in 2009. This improvement was due to improved project execution and continuing success with finding alternative, more cost effective, equipment procurement opportunities.

KHD's balance sheet remains strong. As of December 31, 2009, our cash and cash equivalents increased to $420.6 million (as compared to $409.1 million at the end of 2008); working capital was $370.8 million (as compared to $279.9 million in 2008); and shareholders' equity was $319.8 million (as compared to $261.9 million at the end of 2008). KHD's current ratio was 2.01 and its long-term debt-to-equity ratio was 0.04 as of December 31, 2009.

New order intake is defined as the total value of all orders received during the respective period, excluding cancelled contracts, while order backlog is defined as the value of orders received but not yet fulfilled.

New order intake in 2009 was $321.9 million. This was a decline of 55.5 percent from the prior year. Of this total, 53 percent came from Asia, 22 percent came from Russia and Eastern Europe, 10 percent came from Europe, 9 percent came from the Middle East, 5 percent from Africa and 1 percent from other regions. Of the total new order intake for 2009, $273.6 million was from our cement customer group and $48.3 million was from our coal and minerals business, which was sold in October, 2009.

Order backlog at the end of the year ended December 31, 2009 was $437.0 million, a decrease of 48.1 percent year on year. This was primarily a result of the slowdown in new order intake resulting from the general economic slowdown in 2009, the removal from the order backlog of cancelled contracts amounting to $110.2 million that were previously classified as at risk as of December 31, 2008, as well as the removal of $68.0 million of contracts from our order backlog due to the sale of the coal and minerals business.

CEO Jouni Salo commented, "Overall market conditions were difficult during the year, although there were strong pockets of activity in regions such as India. In India, KHD had a very successful year in terms of new order intake, approximately half of our total new order intake for the year originated from India. We were pleased to see new order intake improve in the second half of the year. During the year, we sold our coal and minerals operations and our workshop in Cologne, and we completed the first phase of our restructuring plan.

"We intend to continue to invest in improving our technology as well as our offering of environmentally friendly products. This is likely to be achieved through a combination of internal research and development as well as through strategic partnerships. We are currently involved in a number of discussions with potential partners to strengthen our market position."

Mr. Salo concluded, "In January, we announced our intention to split the company into two parts: a mineral royalty company and an industrial plant technology, equipment and service company. The first tranche of this transaction is expected to be completed by the end of the first quarter of 2010. We believe this will result in the two independent entities being well positioned to create further value for our shareholders.

"We ended the year with renewed confidence and believe that we have taken a number of significant steps towards helping our customers produce cement and process minerals in a much more energy efficient and environmentally friendly manner. This has been a difficult year for our employees, with many changes over the course of the year, and I would like to thank everyone for their support during this period."

Shareholders are encouraged to read the entire Form 20-F, which has been filed with the SEC, for a greater understanding of KHD. The Form 20-F is also available on the Company's website.

mehr: http://phoenix.corporate-ir.net/phoenix.zhtml?c=92949&p=irol…

[MFC500]

March 29, 2010

KHD Humboldt Wedag International Ltd. (the "Company") (NYSE: KHD) is pleased to announce that the shareholders of the Company have approved the proposed plan of arrangement (the "Arrangement") with KHD Humboldt Wedag International (Deutschland) AG ("KID"), whereby the Company will distribute, as a first tranche, 26% of the shares of KID. This is the first step in the restructuring of KHD into two distinct legal entities: (1) a mineral royalty company and (2) an industrial plant technology, equipment and service company.

The Company will now proceed with the required filings with the registrar under the Business Corporations Act (British Columbia). At such time, the Arrangement will become effective and the Company will set out to implement the steps contemplated under the Arrangement.

http://phoenix.corporate-ir.net/phoenix.zhtml?c=92949&p=irol…

[MFC500]

March 30, 2010

KHD Humboldt Wedag International Ltd. (NYSE: KHD) announces that its shareholders approved the first tranche distribution of 26% of the shares of KHD Humboldt Wedag International AG ("KID"). This is the first step in the restructuring of KHD into two distinct legal entities:
(1) a mineral royalty company, Terra Nova Royalty Corporation ("Terra Nova") and
(2) an industrial plant technology, equipment and service company, KID.

KHD has changed its name toTerra Nova. Terra Nova will continue to be listed on the New York Stock Exchange and trade the "regular way" under a new trading symbol TTT,with the first day of trading being on March 31, 2010.

KID will be listed on the regulated market of the Frankfurt Stock Exchange trading under trading symbol KWG.



Spin out and First Tranche Summary (KID shares)
-----------------------------------------------
-- You will receive one (1) KID share for every three and half
(3 1/2) KHD shares (calculated after a 2 for 1 forward split of KID, which was approved on March 23, 2010).
-- Initial percentage of KID shares distributed - 26%
-- Effective date March 30, 2010
-- Distribution date of shares March 31, 2010
-- Listing date for KID shares on the Frankfurt Stock Exchange March 31, 2010


The shareholders of record who are eligible to receive the KID shares are registered shareholders and/or DTC participants of Terra Nova, who will need to establish a Clearstream eligible brokerage or custodian account for the acceptance of the KID shares. There will be no physical certificates distributed. The KID Shares will be quoted on the Regulated Market of the Frankfurt Stock Exchange and, therefore, will be transferable in electronic form only. As virtually all major brokerage firms will have Clearstream eligible accounts, shareholders whose shares of Terra Nova are registered in the name of a brokerage firm should contact their brokerage firm for further information.


Contact Information: Allen & Caron Inc. Rene Randall
Joseph Allen (investors) Terra Nova Royalty Corporation
1 [phone] 1 [phone] ex 224
[e-mail] [e-mail]
or
Len Hall (media)
1 [phone]
[e-mail]




Also, we ask you to contact our agent for the distribution:
Computershare Inc.
PO Box 43001
Providence, Rhode Island 02940-3001
USA
Contact: Lynn Huguet
Telephone: [phone] (toll free within North America)
or 1-781-575-4086
Fax: [phone]

Or for any assistance call our offices in North America:
Rene Randall
Telephone: [phone] ex 224
Email: [e-mail]



It is important that all new KID shareholders realize that there presently is a very limited or thin market for the KID shares on the Frankfurt Stock Exchange due to the fact that the public float of KID is approximately only 2 percent of KID's outstanding share capital. As a result, until our shareholders claim and receive their KID shares and a more orderly trading market develops, the trading float will remain extremely small, trading levels will be very low or thin and, as a result, there may be extreme volatility in quoted or trading prices for KID shares. Until shareholders take up their KID shares and a more orderly market develops, traded or quoted prices for KHD shares may not be reflective of their value. We encourage you to take up your new KID shares now.

There are several companies quoted on European markets with similar names to our company, please make sure you are using the trading symbol KWG to correct identify your KID shares.

With our realignment, Silke Stenger and Gerhard Rolf have resigned from the Board of Directors of Terra Nova and joined the board of KID. We are also pleased to announce that Ian Rigg has joined the board of Terra Nova. Jouni Salo has resigned as President and CEO and has joined KID as Managing Director. Michael Smith, Chairman, has been appointed as interim President and CEO of Terra Nova.

http://phoenix.corporate-ir.net/phoenix.zhtml?c=92949&p=irol…

[Hockeystick]

hat schon jemand die neuen KID shares eingebucht bekommen?

lg

[jerobeam]

nee.
Das wird wohl noch ein bischen dauern.
In Dtl. gibt's auch noch kein Handel von TTT.
Wert vernichtet worden ist immerhin bisher keiner: wenn ich den KHD-Kurs Anteilig auf den TTT dazuaddiere komme ich momentan auf $15.7 für die ex-KHD Ltd. Aktie.
Und in jeder TTT Aktie stecken immer noch über $7 an KHD-Aktien.

[jerobeam]

Antwort auf Beitrag Nr.: 38.794.107 von MFC500 am 22.01.10 18:51:14

zu KHD Service: auf ein Abfindungsangebot würde ich hier nicht spekulieren. Hätten sie derartige Pläne (gehabt), wären sie wohl vor Aufnahme des Service-Geschäftes umgesetzt worden.

P.S. Da hat uns Herr Salo auf der HV in Köln aber was anderes erzählt. "integrate it as soon as possible". Vor allem die Verlustvorträge scheinen interessant zu sein.

[MFC500]

Antwort auf Beitrag Nr.: 39.256.808 von jerobeam am 31.03.10 18:17:01

Da hat uns Herr Salo auf der HV in Köln aber was anderes erzählt. "integrate it as soon as possible".

Wurde diesbezüglich nachgefragt / hat er sich genauer ausgelassen?

[jerobeam]

Die Frage kam auf wegen der vielen möglichen Namensverwechslungen. KHD (USA) / KHD (Dtl) / KHD (Service) ... und ob es Pläne für Namensänderungen gibt.
Seine genauen Worte waren: "What to do with it ? Integrate it, as soon as possible, I guess. This company has a lot of tax loss carryforwards".