The Russian group Rusal, which is the largest aluminum producer in the world, announced twice larger than expected profit for the second quarter after commodity prices rose this year due to increased demand from rapidly growing Asian economies. For best quarterly results contribute and increase the market value of the share of Rusal in Russia’s largest mining company Norilsk Nickel. Rusal net profit for the three months ended June 30 amounted to 1.02 billion dollars, or 7 cents a share, compared with a loss of 230 million dollars, or 2 cents a share, a year ago. Market analysts predicted a smaller net profit of 393 million dollars. Profit for first half of the year amounted to 1.27 billion dollars compared with a loss of 868 million dollars a year ago. Moscow-based company that is controlled by Russian billionaire Oleg Deripaska, increase its production this year after aluminum rose by more than 50%. Its price has risen to an average of 2,130 dollars per tonne on the London Metal Exchange in the first half of this year from 1,422 dollars per tonne a year ago, according to Rusal. According to company management demand of aluminum in Russia jumped 50 percent this year and another 30% next.
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The French pharmaceutical corporation Sanofi-Aventis announced a public offer to acquire the biotechnology company Genzyme in the amount of 18.5 billion dollars. This happened to a letter by Sanofi expressed disappointment at the refusal of the Executive Director of Genzyme to begin talks on the acquisition. New attempt to pressure on Genzyme comes amid increasing interest of large companies in the sector to new market opportunities offered by biotechnology. Steps have been taken on acquisitions by major players in the sector as Pfizer and Merck. Since 2006, did significant transactions in the pharmaceutical sector are 14, their value is 111 billion dollars, the newspaper reported. This is due to the growing popularity of generics that replace much of traditional medicines. Executive Director of Sanofi Chris Vibaher announced that over the past few months his company is trying to connect with Genzyme, to arrange a meeting for making the offer, but all attempts were rejected. That is why the open letter to all shareholders of Genzyme. Sanofi’s offer is worth 69 dollars per share and was even sent on July 29.
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