FPI
Toronto symbol FPL, makes a wide range of seafood products containing groundfish (cod, flounder, haddock, sole, turbot) and shellfish (shrimp, scallops, crab and lobster). The company changed its name to FP Resources Ltd. as part of a reorganization in 2007.
FPI LTD. $18 (Toronto symbol FPL; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 13.5 million; Market cap: $243.0 million; SI Rating: Speculative) plans to sell its remaining assets in two transactions.
Ocean Choice International will buy FPI’s fish harvesting and processing operations in Atlantic Canada for $158.5 million. High Liner Foods Inc. will pay $143 million in cash and High Liner …read more »
SHAWCOR LTD. $29 (Toronto symbol SCL.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 73.7 million; Market cap: $2.1 billion; SI Rating: Average) is building a $38 million facility in Camrose, Alberta to take advantage of growing demand for its pipeline coating services in the oil sands region. The company has now paid an undisclosed sum for land next …read more »
SAPUTO INC. $45 (Toronto symbol SAP) has paid $12 million for a UK-based maker of mozzarella cheeses. This is a tiny purchase compared to Saputo’s $4.6 billion market value. But acquisitions like this give Saputo a low-risk way to expand to new markets. Best Buy.
FPI LTD. $15 (Toronto symbol FPL) has received permission from the Newfoundland government to try to …read more »
FPI LTD. $7.85 (Toronto symbol FPL) earned $0.25 a share in the third quarter of 2006 compared with a loss of $0.35 a year earlier, thanks to cost controls and the extra earnings from recent acquisitions. However, sales fell 15.4%, to $174.5 million from $206.2 million, due to lower selling prices for fish products and the high Canadian dollar. …read more »
FPI LTD. $7.85 earned $0.25 a share in the third quarter of 2006 compared with a loss of $0.35 a year earlier, thanks to cost controls and the extra earnings from recent acquisitions. However, sales fell 15.4%, to $174.5 million from $206.2 million, due to lower selling prices for fish products and the high Canadian dollar. Hold.
FORDING CANADIAN COAL TRUST …read more »
ANDRES WINES LTD. $34 (Toronto symbol ADW.A; Income Portfolio, Consumer sector; SI Rating: Above average) has gained roughly 10% since it said it would split its stock on a 3-for-1 basis in October 2006. That should greatly improve the stock’s liquidity. Andres also plans to change its name to Andrew Peller Limited.
Thanks to strong demand for premium wines, which generate …read more »
AGRIUM INC. $27 has agreed to pay $47.5 million for Pursell Technologies Inc. (all amounts except share price in U.S. dollars), which specializes in coatings that help control the release of nitrogen-based fertilizers in the soil. It also paid $12.5 million for the rights to other technologies. To put these figures in context, Agrium earned $283 million or $2.11 a …read more »
FPI LTD. $5.80 (Toronto symbol FPL; SI Rating: Extra Risk) fell to $4.05 a share in November 2005 over fears that Ottawa would impose new taxes on income trusts. The uncertainty forced FPI to suspend its trust conversion plan for its Ocean Cuisine International division, which sells seafood to retailers and restaurants. It had hoped to sell part of Ocean …read more »
DOFASCO INC. $71 (Toronto symbol DFS; SI Rating: Average) has accepted a $71.00-a-share takeover offer from Arcelor SA after rival bidder ThyssenKrupp AG decided not to match Arcelor’s offer. However, UK-based Mittal Steel Co. has launched a hostile takeover for Arcelor. Mittal’s bid for Arcelor is unlikely to affect Arcelor’s plan to buy Dofasco.
Dofasco shareholders should tender their shares to …read more »
