Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 22, 1997, Winnipeg, Manitoba Winnipeg free july b5 business watch Billes Brothers sell Toronto two sons of Canadian tires founding fam ily Are Selling their shares to their sister and resigning from the company Board of Martha Billes of Calgary will own or control about 61 per cent of Canadian tires common Stock buying shares from Broth ers Alfred and David for per she said in a statement yesterday that her Brothers wanted to sell for personal Alfred lives in Toronto and David lives in Beer fight spreads Philippines Asia brewery the Philippines Sec on largest Beer accused Market Leader san Miguel yesterday of hoarding about two million Asia brewery Beer bottles in an Effort to drive it out of Busi its the latest incident in a Long running War Between the country leading Brewers that has been fought in the courts and this is a continuation of their Pursuit to destroy and annihilate Asia company president Guillermo Pecache they will not Stop were dead and san Miguel officials acknowledged the bottle but placed the number at Asia brewery has about 20 per cent of the local Beer profits drop new York yesterday said its profit dropped 38 per cent in the second the report was weakened by the Cost of breaking into local phone markets and slow growth in its Core Long Dis Tance said it earned or 59 cents a in the Quarter ended june that was Down from or 95 cents a in the year ago excluding results from underwater Cable which it has since Marblo posts loss Vancouver Macmillan Bloedel reported a net loss yester Day of million or five cents a common for the second Quarter compared with a profit of million or 44 cents for the same period last the Vancouver based Forest com Pany lost million or nine cents a share in the first Quarter of this Oshawa to keep work Toronto a general motors Plant in Oshawa will continue to develop a new generation of pick up trucks despite the end of a lengthy strike at an american Facil Ity originally scheduled to do the an official the work will remain in Cana said Tayce Wakefield vice president of corporate affairs for general motors of his comments came after Union members at a pm truck Assembly Plant in ratified a tentative agreement Friday to end a three month Holland gains Montreal Rolland a maker of Fine has reported a net profit of million or 30 cents a share for the Quarter ended june up from million or 26 cents for the same period a year Yvan company presi said yesterday the improved results were due in part to Les provincial whose acquisition by Rolland was completed at the end of another positive Factor was the opening of new distribution centres in Western Canada including Barkwell paper of tenders terms reached for re Pap Sale by Paul Mckie business reporter owners of Manitoba Recap Plant have agreed to sell it to Tolko industries for net proceeds of bringing this months Sale of the Plant at the Pas one step closer to we want to see this thing finalized and decided As quickly As said Bob Zolkos manager of corporate he disclose the full Pur Chase Price of Recap Manitoba but said it did pay Down recaps a notice offender Tenzek 551 window installations Frontier collegiate Institute Cranberry Falcon Beach school Falcon my Jack River school Norway my Norway House High school Norway my sealed bids will be received Al the office of Frontier school division up to prevailing Winnipeg August to Supply labour and additional materials for the installation of owner purchased tender documents can be obtained from the address for information Contact Hans building and 204 the lowest or any tender will not necessarily be sealed bids must be forwarded before closing time and Date to Vic Warkentin Secretary treasurer Frontier school division 48 1402 notre Dame Avenue my r3e 305 statement from Recap said net proceeds from the Sale would be used to repay a portion of the secured debt of Recap enterprises the debt of recaps Manitoba operations is estimated to be a spokesman for ref a was unavailable for earlier this Recap enterprises announced it had reached agreement in principle to sell Recap Manitoba to Tolko of Recap announced it had signed a share Pur Chase agreement with the Sale is expected to close in Early August but is subject to prior agree ments Recap made with the province in including a commitment to a Manitoba finance minister Eric Stefanson already said the Sale Doest alter that commitment Patterson said he didst foresee any problems in the Sale reaching a Satis factory the discussions with the govern ment Are going very Well and we dont anticipate any he Patterson said the Deal was Good news for Tolko and the Recap Manitoba is directly responsible for 850 jobs it Northern including those of 650 people employed at two Mills and about 200 contract work it is the largest employer in the with an annual payroll of about i already announced that if the Deal through it will undertake expansion of the lumber Mill within the next two Tolko also expects to double the current capacity of no million Board feet of lumber per year in the Tolko employs with annual sales of million from manufacturing and marketing facilities in British Columbia and feds name new Boss Cibic Rumour Mill spits out for task Force eyeing new York investment firm financial services by Gord Mclntosh Canadian press 0 Ottawa the fed eral government has chosen a High profile corporate lawyer from Saskatchewan to take Over the chairmanship of its troubled task Force on the future of financial Harold a director of the Bank of will succeed Bay Street securities lawyer James who quit july 4 Over suggestions of a conflict of the department of finance also said yesterday that Montreal businessman Pierre who stepped in As acting chairman after Baillie will be vice chairman of the task in the govern ment named a new member Toronto litigation lawyer Donald Mackay is known in Saskatchewan As a High pro file but he is also a close Friend of Saskatchewan Premier Roy Romanow and has taken on a couple of Tough assignments for the nip Jim Secretary of state for financial inst said the task Force remains on schedule to file its report to the govern ment in september but clearly Ottawa is Tak ing Steps to ensure there is no repeat of the controversy that Cost Baillie his Mackay said in an Inte View from Regina he has promised Ottaw Hewill advise any client in the1 financial services Baillie had been Able to continue to advise clients in the financial services sector on matters unrelated to the work of the task Force under an agreement with finance minister Paul the lawyer resigned As chairman soon after the government discovered he had attended a meeting with National Trust to Dis cuss a takeover offer from in another key Mackay has promised not to be on the Board of any Finan Cial institution while Hes on the task Baillie was allowed to remain on the boards of Manlif e financial and Midland Mackay has also agreed to take a leave of absence As chairman of his Law Macpherson Leslie and and he will resign As a director of the Bank of which has some regulatory by Michael Macdonald Canadian press t l f Oronto the Canadian Imperial Bank of Commerce has a bad Case of takeover fever if you listen to the Rumour Mill on Bay last it was a bid for Canada denials were quickly issued by Cibic and Canada trusts Ilasco of Ilasco again took Steps to shutdown its Rumour Mill denying that Canada Trust is for Sale to for this weeks potential target is Oppen Heimer and a new York investment dealer thought to be Worth about million Cibic is expected to Complete the Deal some time this the new York times reported citing unnamed we dont comment on Oppenheimer spokesman John Ryan said but he did confirm Oppenheimer has had extended conversations with Debra spokeswoman for Cibic Wood Gundy securities in new declined to comment on the times Cibos new York which employs about already handles institutional wholesale trans actions but it Doest offer retail brokerage ser vices for individual which has been considering offers from prospective partners for Over a is a tightly held private firm controlled by chair Man Stephen Robert and president Nathan the acquisition would be the latest in a series of sales this year of Wall Street companies to big commercial these rumours Haven been said Fred Ketch Hij chief equities trader at it Surprise me in the it would give cibc11 prese Ilce in the like Jig Cibic is eager to build limits assets arid Market share As the financial services Industry prepares for pending Trade deals that will liberalize banking rules and bring Down geographic what youve got Here is another in a series of moves in which the Banks Are trying to gain said Colin director the banking prac Tice at a Toronto accounting and management consulting in for the to Banks Green line investor services merged with discount brokerage waterhouse investment services of new creating the worlds third largest Dis count and the directors of National Trust co the Toronto based holding company for National advised shareholders to accept an offer from the Bank of Nova Scotia to buy All outstanding common 2 big German Banks announce merger associated press m beings profits lose Altitude associated press is i Battle Boeing profits fell 15 per cent in the second Quad the company said yes Boeing said its Rush to increase Jet production is causing parts shortages and higher overtime the results for the Quarter ended june the last before beings planned merger with Mcdonnell showed profits of million us or 55 cents a compared with million or 68 cents a share in last years second Quarter was inflated by a million gain for the settlement of some defence and space sales were up 48 per cent from billion in second Quarter in the most recent Boeing delivered 92 compared with 62 in Boeing and Mcdonnell Douglas shareholders vote Friday on whether to merge into the worlds largest aerospace Germany two of Germany biggest known As hypo Bank and vere plan to merge in a Deal Worth billion us that will create Europe second biggest financial the announced yes will help boost the International presence and visibility of both whose official names Are Bay Rische Hyp Theken und Wechsel Bank a and Bay Rische Verein Bank the new Bank will be called Bay Rische hypo und Verein Bank Verein Bank has had operations in the United states for with offices in new los Angeles and hypo Bank also has an office in new the merged Bank would have assets of second Only to Ger Many Deutsche Bank a with Frances credit agricole with assets of currently is 2 in it raises every automotive except c 23o s1own with optional Light Alloy wheels y closed end lease from 328 for More details Call or visit Winnipeg free press Lucky number contest win a share 125060 win daily with Lucky numbers w05290133 w05015614 w05430076 w05043753 w05039384 double your winnings As a 7day Home delivered subscriber you Are eligible to win a share of up to with your free press Lucky each Day the 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the weekly Bingo games will award up to and the Lucky number portion will award up to Winnipeg free press Lucky number winners will have their share doubled if they Are currently re Winnipeg free receiving 7day Home delivery of the free press Lucky numbers the free press will be giving away up to daily to free press Lucky number ii your Lucky number you will win winnings doubled if you Are a 7day Home delivered each Day we will publish 5 Lucky if you Lucky number youre a Winner you must Call on the Day you become you must correctly answer a skill testing question to collect your Lime Star motors 854 Nairn 6672467 Mac will Clown or Eguino Kilt plus 1st payment Deposit required on optional buyout or the 43 annual meeting of Templeton growth july 1997 pm Manitoba Centennial concert Hall simulcast live from Toronto and Vancouver keynote speakers Donald to Knosko and Mark special guest speaker sir John retired founder of the Templeton George i no Ion Plu till be in Winnipeg to give a Brief presentation prior to the Templeton Iti global i Tust first in global inn sting ;