http://www.businessspectator.com.au/bs.nsf/Article/Sumitomo-to-write-down-Nufarm-stake-pd20101002-9U6FJ?OpenDocument&src=rab
Sumitomo to write down Nufarm stake
Published 1:58 PM, 2 Oct 2010 Last update 1:46 PM, 2 Oct 2010
--------------------
QUICK SUMMARY | FULL STORY
Sumitomo Chemical Company Ltd will make a �40.6 billion ($501 million) write down its stake in embattled agrichemicals group Nufarm for the three months to September, according to the Weekend AFR.
"We are supporting (Nufarm chief executive officer) Doug Rathbone," Sumitomo executive officer Ray Nishimoto told the paper.
"I have heard a lot of criticism about management but at this moment we do not have any problem," he said. "From our point of view we expect that they are continuing discussions with their strategy."
Sumitomo is Nufarm's biggest shareholder, following the purchase of a 20 per cent stake in the company in April at $14 per share. Nufarm shares closed at $3.72 on Friday.
But Mr Nishimoto said Sumitomo remained committed to its alliance with Nufarm, which would enable collaboration on product development and distribution channels.
- Forums
- ASX - By Stock
- NUF
- sumitomo committed to nufarm
sumitomo committed to nufarm
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NUF (ASX) to my watchlist
(20min delay)
|
|||||
Last
$3.97 |
Change
0.020(0.51%) |
Mkt cap ! $1.517B |
Open | High | Low | Value | Volume |
$3.97 | $4.05 | $3.95 | $4.034M | 1.009M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5317 | $3.96 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.97 | 2516 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1060 | 3.950 |
1 | 1060 | 3.940 |
1 | 1060 | 3.930 |
2 | 3643 | 3.920 |
1 | 1093 | 3.910 |
Price($) | Vol. | No. |
---|---|---|
4.020 | 1060 | 1 |
4.030 | 1060 | 1 |
4.040 | 8343 | 3 |
4.050 | 2978 | 3 |
4.060 | 1093 | 1 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
Featured News
NUF (ASX) Chart |