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Arcelor
Mittal to sell German plant
London: Arcelor Mittal has said it will sell Stahlwerk
Thringen GmbH (SWT) Long Steel Carbon plant in Germany
to Spain's Grupo Alfonso Gallardo for an enterprise value
of Euro 591 million as part of commitments to address
anti-trust concerns of European regulators. The sale is
the first in a series of three similar deals to be carried
out by Mittal Steel as it had earlier committed to European
Commission during its 26 billion euro merger agreement
with Arcelor earlier this year.
Grupo
Alfonso Gallardo is Spain's largest corrugated steel manufacturer
with sales in excess of 2.3 billion euro in 2006. The
privately-owned company operates steel plants in Spain
and diversifies in cement production and oil refining.
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Yahoo
reorganizes into three groups
Yahoo Inc. is seeing a reorganization that will divide
the company into three new units. The company said the
new groups will help it focus on its most important customer
segments -- the consumer audience, advertisers, and publishers
-- in an effort to compete more aggressively.
Once
an Internet and Wall Street darling and consistently one
of the Internet's top three sites, the company has struggled
in the face of a changing Internet landscape, including
the rise of social networking sites and sharp competition
from rivals like Google Inc.
Meanwhile
Yahoo's chief operating officer Dan Rosensweig has tendered
in his resignation.
The
reorganization was not unexpected. Last month, an internal
document now called the "Peanut Butter Memo"
asked for the reorganization.
The
new units are the Audience Group, the Advertiser &
Publisher Group, and the Technology Group. Each group's
head will report directly to CEO Terry Semel.
The
Audience Group will focus on its existing consumer products,
such as search, Web-based e-mail and news aggregation,
while developing social networking vehicles, mobile and
handheld content and international offerings. Yahoo is
currently searching for a group head.
The
new units and titles will take effect Jan. 1. Rosensweig
will leave at the end of March, Yahoo said. No replacement
has been named.
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