Monday, April 18, 2011

Stocks In Focus: MCP, GE, WCRX

Molycorp, Inc.  (NYSE: MCP) announced Monday that its wholly owned subsidiary Molycorp Minerals, LLC has acquired Arizona-based Santoku America, Inc. (SAI), one of the leading producers of high-purity rare earth alloys and metals outside of China, in an all-cash deal for $17.5 million. The transaction closed on Friday, April 15, at a ceremony attended by senior management representatives from Molycorp, SAI, and Japan-based Santoku Corporation, SAI's former parent company.

General Motors Co. (NYSE: GE) said Monday that its Chevrolet brand sold 1.1 million vehicles worldwide in the first three months of 2011, a 15 percent increase over the first quarter of 2010 and the brand's best first-quarter results ever.

Warner Chilcott plc (NASDAQ: WCRX) announced Monday that its plans to restructure its Western European operations in Belgium, the Netherlands, France, Germany, Italy, Spain, Switzerland and the United Kingdom. The restructuring will not impact the Company's operations at its headquarters in Dublin, Ireland, its facilities in Dundalk, Ireland, Larne, Northern Ireland or Weiterstadt, Germany or its commercial operations in the United Kingdom. The Company determined to proceed with the restructuring following the completion of a strategic review of its operations in its Western European markets where its product ACTONEL (risedronate sodium) lost exclusivity in late 2010. ACTONEL accounted for approximately 70% of the Company's Western European revenues in 2010. In connection with the restructuring, the Company intends to move to a wholesale distribution model in the affected jurisdictions to minimize operational costs going forward. The Company currently expects to complete the restructuring by the middle of 2012. The implementation of the restructuring plan is expected to impact approximately 500 employees and remains subject to consultation with local works councils in certain European jurisdictions.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire