On Friday, Shares of Barrick Gold Corporation (NYSE:ABX), gained 0.14% to $7.06.
Barrick Gold Corporation declared it has accomplished the divestiture of its Cowal mine in New South Wales, Australia to Evolution Mining for a total cash consideration of $550 million. Proceeds from the sale of Cowal will be used to repay debt.
“The sale of Cowal is consistent with the strategy we have outlined to create long-term value for our owners, and will make a noteworthy contribution to our debt reduction target while further focusing the geographic footprint of our portfolio,” said Co-President Kelvin Dushnisky.
Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.
Shares of Mondelez International, Inc. (NASDAQ:MDLZ), declined -0.31% to $45.13, during its last trading session.
Mondelez International declared an investment of more than $130 million in its North American biscuits business, as the company continues its journey to modernize its manufacturing assets and processes and create a global best-in-class integrated supply chain. This investment will fund the installation of four state-of-the-art manufacturing lines — “Lines of the Future” — at the company’s Americas production facility in Salinas, Mexico, which opened late last year. This investment in these Lines of the Future will be accomplished by mid-2016 and will replace nine older, inefficient manufacturing lines at its Chicago biscuit plant.
“This new investment is part of our ongoing supply chain reinvention plan, as we implement several initiatives around the world to transform our global manufacturing processes to accelerate growth, reduce costs and improve productivity,” said Daniel Myers, EVP, Integrated Supply Chain. “These investments will enable a noteworthy percentage of our global Power Brands to be produced on advantaged assets and are key contributors to our overall margin improvement.”
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Finally, American Axle & Manufacturing Holdings Inc. (NYSE:AXL), ended its last trade with -5.53% loss, and closed at $19.98.
American Axle & Manufacturing Holdings declared the appointment of Michael K. Simonte to President and Christopher J. May to Vice President & Chief Financial Officer effective August 1, 2015. David C. Dauch will remain as Chairman and Chief Executive Officer. Mr. Simonte and Mr. May will report to Mr. Dauch.
Michael K. Simonte, 51, has been with AAM for nearly 17 years, most recently serving as Executive Vice President & CFO and formerly, Treasurer. His experience while in these senior corporate positions comprises external reporting, internal controls, global tax planning, financial strategy, budgeting, forecasting, capital structure oversight, cash administration and investor relations. In addition to his broad financial background, he has extensive leadership experience at the operating level that comprises overseeing capital allocation, managing commercial negotiations, executing restructuring activities and directing the company`s information technology function.
Christopher J. May, 45, has held positions of increasingly noteworthy responsibility during his 21 years with the company. He served most recently as Treasurer and formerly, Assistant Treasurer. His experience comprises various positions within AAM`s financial reporting, internal audit and operations finance departments. Over the last several years, he has led the company`s efforts to refinance our capital structure while building strong financial processes within the organization. He holds a Masters of Business Administration degree from University of Detroit - Mercy, and a Bachelor of Science degree in Accounting from Canisius College. Mr. May also holds a CPA designation.
American Axle & Manufacturing Holdings, Inc., together with its auxiliaries, designs, engineers, validates, and manufactures driveline and drivetrain systems, and related components and chassis modules for the automotive industry in the United States, Canada, Mexico, South America, Asia, Europe, and internationally.
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