DOW 0.80% $8.80 downer edi limited

cleaning up the portfolio

  1. 635 Posts.
    DOW is a stock to watch.
    Even better - IMHO - a stock to hold for the long term.

    They are successful in winning substancial new contracts and are in the process of cleaning up the portfolio of non-core holdings.

    Interesting article in AFR earlier this week.

    I hold DOW.
    Read all the read stuff.
    -------------------------------------------------
    Company Announcement

    Disposes of Investment in 3M Mexico

    DOWNER EDI LIMITED 2003-04-10 ASX-SIGNAL-G
    HOMEX - Sydney
    +++++++++++++++++++++++++
    Downer EDI Limited (Downer EDI) today announced that it had disposed
    of its 49% investment in Manufacturera 3M, SA DE CV ("3M") in Mexico
    to the major shareholders. 3M is a major producer of sugar industry
    equipment in the region.

    Evans Deakin Industries Limited had made the investment in this
    business in 1999 to increase market presence for Walkers sugar
    equipment.

    Under the terms of the agreement Downer EDI will realise a net cash
    consideration of US$6 million.

    Managing Director of Downer EDI, Mr Stephen Gillies, said that the
    sale represented part of the divestment process of non-core
    businesses and surplus assets.

    Contact: Bruce Crane, COMPANY SECRETARY (02) 9251 9899

 
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