Fuchs Petr
Fuchs Petrolub did not provide an outlook for 2009, onlysaying that the "extent to which the economic development willallow the coming quarters to see similar or even higher earningsbefore interest and tax than the first quarter of 2009 remainsto be seen". The company -- which competes with Quaker Chemical Corp(KWR.N) as well as units of oil companies such as Royal DutchShell (RDSa.L) and Russia's LUKOIL (LKOH.MM) -- in March said itexpected sales and net profit to decline in 2009. According to StarMine, which weighs analysts' projectionsbased on their track records, Fuchs Petrolub trades at 11.6times estimated 12-month forward earnings, a discount comparedwith rival Quaker's 14.7. (Reporting by Christoph Steitz, editing by Knut Engelmann) Russia. FRANKFURT, May 5 (Reuters) - Fiat (FIA.MI) plans to keep allGerman Opel plants open should its takeover plans for theGeneral Motors GM.N unit succeed but would cut staff there,Fiat Chief Executive Sergio Marchionne told a newspaper. Stocks | Mergers & Acquisitions | Global Markets | Russia "We don't want to close any of the four Opel factories inGermany.
I will need the plants in the future to build enoughcars," he was quoted as saying by the Bild newspaper "But of course staff levels have to fall No one will beable to change that. The plants have to become more efficient." He said he could not estimate at this stage how many of the25,000 Opel jobs in Germany might have to go. Germany's economy minister had said after meeting Marchionneon Monday that Opel's engine plant in Kaiserslautern might notsurvive a Fiat takeover. Canadian-Austrian automotive supplier Magna (MGa.TO) is alsoin the hunt for GM's European business centred around Opel. GMis selling a majority stake in an attempt to get 3.3 billioneuros ($4.37 billion) in state aid from European governments "Magna wants to get into Opel with Russian help. It wouldsurprise me if the German government would consider that a goodsolution," he said.($1=.7554 euros)(Editing by Mike Nesbit) Stocks Mergers & Acquisitions Global Markets Russia.
HANOI, May 5 (Reuters) - Petrovietnam fertiliser makerPVFCCo DPM.HM, said on Tuesday its gross profit in the firstquarter of 2009 fell 10 percent compared to the same periodlast year to 377 billion dong ($21 million) despite a surge inrevenues. PVFCCo, or Petrovietnam Fertiliser and Chemicals Corp.,said revenues in the period jumped 97 percent from a yearearlier to 1.98 trillion dong. The company, Vietnam's top fertiliser maker, said earningsthis year could fall 25.5 percent to 1.08 trillion dong due tohigher costs It did not give details. Shares in PVFCCo jumped nearly 5 percent on Tuesday toclose at 40,200 dong each ($1=17,7760 dong) (Reporting by Nguyen Nhat Lam).
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