Monthly Archives: January 2013

CCL To Acquire Two Avery Dennison Businesses

Pasadena-based Avery Dennison Corp. recently announced that it will be selling two of its businesses to CCL Industries Inc. for $500 million in cash.

The transaction comes only three months after 3M gave up on its plans to purchase Avery Dennison’s office and consumer products unit. The deal was abandoned because the U.S. Department of Justice opposed it.

CCL, a Toronto-based specialty packaging maker, has swooped in to acquire it instead. The unit’s products include Marks-A-Lot and Hi-Liter markers, as well as other office products, such as binders. The division had sales of $730 million last year.

“CCL is one of our largest customers, and we have a long-standing relationship with them,” said Dean A. Scarborough, Chief Executive at Avery Dennison. “We are pleased that they will become the steward of the Avery brand for office products.”

Geoffrey Martin, Chief Executive at CCL, added:

“This acquisition has the potential to transform our company at many levels.”

If approved by regulators, this year’s transaction will be CCL’s largest acquisition to date.

Liz Neumark’s Five Seeds to Sprouting Success

In a recent article for Forbes, entrepreneur Julia Pimsleur summarized some tips from the recent WEF3. Liz Neumark, keynote speaker at the event, offered “5 Seeds to Sprout Success.” Neumark, who started a small catering business back in 1979, has since been listed among New York’s top companies in the field.

Pimsleur reveals Neumark’s five keys in her article:

1. Embrace and learn from your mistakes-

“At her company Great Performances they keep a running list of all their mistakes in a visible place and she is the first one to add hers. That way it takes the sting out of admitting what’s not working and they can work as a company to come up with good solutions. Their goal? Make sure they keep only making NEW mistakes, not the same ones,” Pimleur writes.

2. Build your real network and invest in it, your time and true attention-

“Liz has a strong network of colleagues and friends, many of them other women CEOs, she has cultivated and invested in over the years,” Pimleur explains. “That means that she has people to call on when her company is landing new business, or she needs input on solving a business problem. She encourages women especially to be pro-active about building their professional networks.”

3. Nurture, mentor and grow-

“You can’t build a successful business without great people around you. Find your team and invest in them through professional development and helping them grow. If people aren’t the right fit, fire fast so as not to compromise your company’s culture.”

4. Crawl out on a limb-

“As an entrepreneur you have to keep taking risks- not only when you launch your business but each time you try to grow your business to the next level. She says ‘You might be shaky at first but not for long.’ As you figure out how to tackle the next level your branch will stop shaking. And then you can aim for the next one.

5. Figure out what’s meaningful-

“Liz says ‘You will be working hard, so you need to have deep faith in yourself, especially if you expect people to follow.’ She cautions that these things alone won’t guarantee that your venture will be success because frankly you also need a little bit of luck. But there are enough to tip the scales in your favor.”

 

Fortescue Metals Group Announces Quarterly Gains

This Thursday, Fortescue Metals Group Ltd. announced a 32% jump in iron-ore monthly shipments. The increase is a result of improved steel demand from China.

According to company reports, Fortescue shipped 19.6 million metric tons during the second quarter, up from 14.8 million during the previous year. The average price per ton was $111, while last quarter it peaked at $98.

According to a statement to the Australian Securities Exchange, the fourth-largest steel producer expects conditions in China to “stabilize in the near term,” thanks to abrupt changes in the commodity prices and increased demand in the region.

Fortescue explained:

“Still mills are readjusting their raw material stocks to maintain more sustainable stock levels, and with China’s new leadership starting to rejuvenate programs of economic growth and urbanization, steel demand is expected to increase and support iron ore prices.”

Financial Secretary Speaks at Asia Private Equity Forum 2013

Yesterday, the Hong Kong Venture Capital and Private Equity Association hosted the Asia Private Equity Forum 2013 in cooperation with the Asian Financial Forum.

Hundreds of guests attended the event, including major financial firms and investment companies like Oasis Investments Limited and LGT Capital Partners, a company that develops strategies for private equity and hedge funds.

Financial Secretary Mr. John C. Tsang delivered an opening speech at the summit, discussing the economic outlook for Asia and its significance to investors.

“It is an important day for us in the Hong Kong government because it marks the occasion that the Chief Executive will deliver his first Policy Address of the current term later on this morning,” he said.

“Congratulations to the Hong Kong Venture Capital and Private Equity Association on organizing the third Asia Private Equity Forum.

Once again, this Forum follows on from the Asian Financial Forum, which ended yesterday. I hope that those of you who attended the AFF enjoyed the lively discussions on financial development in this region and around the world.

Since we are right at the beginning of a new year, I would like to get the ball rolling today by looking ahead.

What can we expect from Hong Kong this year as a global hub for finance in Asia?

This region has provided one of the few bright spots around the world in the past year amid the recent global financial turmoil. Asia continues to attract new investment opportunities, and Hong Kong is at the center of the action. Signs are that Mainland China will regain its economic growth momentum this year, while the outlook for the U.S. and the Euro zone is less clear because these regions continue to struggle with their own financial and economic difficulties.

In terms of wealth creation, as the center of gravity of the global economy shifts to the East, we see an increasing number of high-net-worth individuals in the Asia-Pacific region, making our region the fastest growth market for wealth management.”

Paul Holshouser to Speak at Wind Power Finance & Investment Summit

Paul Holshouser, Finance Policy Manager at American Wind Energy, was recently added to the list of speakers at the 12th Annual Wind Power Finance & Investment Summit. Launched by Infocast, the event will take place in San Diego this coming June.

Mr. Holshouser will speak on the first day of the summit, on June 6th. He will discuss the recent Production Tax Credit (PTC) extension, providing information on changes in the eligibility rules, changes to the Treasury Cash Grant program and its effects on wind projects, as well as the potential for MLP investments.

Leading project developers, financiers, private equity investors, institutional investors, tax equity investors, lenders and equipment manufacturers all gather at the Wind Power Finance & Investment Summit to discuss strategies and challenges that may present themselves in the upcoming year. Other major participants include ACCIONA Energy North America, AIG, Atlantic Power, Blackrock Alternative Investments, Carlyle Group, D.E. Shaw & Co., EDF Renewables Energy, ENEL Green Power North America, Everpower, First Wind, Hudson Clean Energy Partners, Invenergy, Oak Creek Holdings, and many others.

 

Apple Wins Yet Another Tech Emmy Award

iCloudThe National Academy of Television Arts just granted Apple a Tech Emmy Award at CES 2013. The iPhone maker is one of the leading technology companies in the world.

According to Forbes, Apple’s latest award is for an “eco-system for Real Time Presentation of TV Content to Mobile Devices without the use of Specialized Television Hardware.”

Though the winning product remains unknown, many experts believe it to be the iCloud platform, which allows users to store and share calendars, photos, music, apps and documents from multiple devices.

Apple has received Tech Emmy awards in the past as well. It won its first in 2001 for its ‘FireWire’, another in 2002 for ‘Final Cut Pro’, as well as two in 2005 and 2006 for “Streaming Media Architectures and Components.”

Toyota’s New Self-Driving Car

Self-driving cars have attracted manufacturers other than Google; Toyota and Audi have both announced that they will reveal their concept cars at the upcoming Consumer Electronics Show in Las Vegas.

Though neither car maker has revealed any details, IDG News Service has uncovered this quick preview of Toyota’s new technology.

Oasis Investments Limited and Other Financial Firms Expand Throughout Asia

Many financial firms are taking renewed interest in Asia thanks to its recovering economies. Morrison & Foerster, a leading Capital Markets firm in Asia, recently opened its fifth office in the region. The new Singapore branch will be headed by Eric Piesner, managing partner for Asia and head of the real estate practice for the firm.

Mr. Piesner said:

“Many of our clients are looking to Southeast Asia and South Asia as significant growth markets. As they expand their businesses in those regions, we want to be positioned to assist them. Singapore is the ideal location from which to do that. We already have a substantial base of business with a Singapore nexus, including clients with M&A, real estate, project finance, dispute resolution, TMT, private equity and tax needs. We see our presence in Singapore as an opportunity to further help clients in these and other areas.”

Larren M. Nashelsky, Chair of Morrison & Foerster, added:

“Singapore is a highly attractive commercial environment and a magnet for global brands doing business across Asia. We are excited to establish an on-the-ground presence to facilitate our efforts to help clients pursue the many opportunities the city-state presents to them in Singapore and throughout Southeast Asia and South Asia.”

Morrison & Foerster is not the only firm to see the potential in Southeast Asia. Investment companies have been monitoring the region’s trends as its economies continue to grow in 2013.

3 Concrete Investment Tips to Start 2013

Investing

Invest and watch your money grow

Have you ever thought of taking some of that money you have just sitting in the cookie jar, or in the low-interest savings account, and investing it? The answer is probably yes, and the only reason you haven’t gotten around to it is that you just don’t know where to begin.

Here are some tips to help you finally take the plunge and get your money working for you.

•    Learn as much as you can about investing first: One of the most obvious places to get information about investment options is from popular magazines about finance such as Entrepreneur, available by subscription through the National Magazine Exchange.
•    Start small: It is always wise to crawl before walking and walk before running. With small amounts of money on the line you can get a feel for how to invest properly without risking much of your hard-earned assets.
•    Never invest more money than you are willing to lose. Investing is always a risk, and the money you invest should be extra money that you could live without if the investment doesn’t work out as you hope.

With these few tips, and a lot of information you can start to learn, you are well on your way to getting more from your money in 2013.