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Abitibi-Consolidated Inc. (A-T, ABY-N) C$10.10

本文发表在 rolia.net 枫下论坛Pan Asia Paper Co. (PAPCO), the 50/50 joint venture between ABY and Norske Skog,
announced that it will partner with Hebei Longteng Paper Corp. (HLPC) to build a 330,000 tpy
recycled newsprint mill in China. The mill will be owned 65% by PAPCO and 35% by HLPC.
The cost of the project is expected to be US$300mm (US$910/tonne) - this is higher than
ABY's current EV/tonne multiple of US$805/tonne, but is still reasonable in the context of the
expected low cost structure at the new mill. PAPCO's equity stake in the new mill will be
US$70mm - the remaining debt used to finance the mill will be non-recourse to ABY.
Construction will start in Q4/03, with a projected start-up in Q3/05. This is viewed as a positive
move for ABY - the capital outlay is minimal and the project provides increased exposure to
one of the few high-growth markets for newsprint in the world. Given ABY's share of the North
American market, domestic expansion options are limited. No change to our BUY
recommendation or $12.50 target.更多精彩文章及讨论,请光临枫下论坛 rolia.net
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Replies, comments and Discussions:

  • 枫下家园 / 理财投资税务 / 请问各位大虾有没有推荐的加国的股票,除了NT。初入股市,只拿了些加币放进去!
    • 一样可以买美股的吧
    • PFE for one year.
    • 可考虑指数股:XIT,XIU
    • Abitibi-Consolidated Inc. (A-T, ABY-N) C$10.10
      本文发表在 rolia.net 枫下论坛Pan Asia Paper Co. (PAPCO), the 50/50 joint venture between ABY and Norske Skog,
      announced that it will partner with Hebei Longteng Paper Corp. (HLPC) to build a 330,000 tpy
      recycled newsprint mill in China. The mill will be owned 65% by PAPCO and 35% by HLPC.
      The cost of the project is expected to be US$300mm (US$910/tonne) - this is higher than
      ABY's current EV/tonne multiple of US$805/tonne, but is still reasonable in the context of the
      expected low cost structure at the new mill. PAPCO's equity stake in the new mill will be
      US$70mm - the remaining debt used to finance the mill will be non-recourse to ABY.
      Construction will start in Q4/03, with a projected start-up in Q3/05. This is viewed as a positive
      move for ABY - the capital outlay is minimal and the project provides increased exposure to
      one of the few high-growth markets for newsprint in the world. Given ABY's share of the North
      American market, domestic expansion options are limited. No change to our BUY
      recommendation or $12.50 target.更多精彩文章及讨论,请光临枫下论坛 rolia.net