Need Some Non-Strategic Assets? Renault Can Use The Cash
Should you be working at a Renault (or Nissan) outfit that is not directly involved in the making and selling of cars, be on the lookout for people from headquarters. Renault is combing its assets all over the world for “non-strategic” ones that could be sold off to raise cash.
Renault SA is reviewing its assets to identify non-strategic ones that might be sold off to help reduce its debt burden, CEO Carlos Ghosn said in Geneva. The Nikkei [sub] says that Ghosn is in no hurry. He wants to wait until his non-strategic assets are worth more money. Renault had a debt load of €6b at the end of 2009, and they want to cut that in half in that garage-sale-in-waiting.
So what could be non-strategic, mused to journos and called up Wikipedia on their Blackberrys. So, how about Renault’s 20 percent stake in Swedish truck maker Volvo?
“I’ll let you draw the conclusion. We’re not a truck maker. We think it’s a great asset,” said the sybillinic Ghosn.
Speaking of non-strategic and Volvo, and lest we forget: Ford’ CFO Lewis Booth said in Geneva they expect to sign with Geely by end of March and close the deal by end of June, reports Reuters.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Bertel, kudos for using an adjective that appears only 8(!) times on Google, or, shall we say, the universe! This is what I dug up: "sibylline =ambiguous and obscure"
I got 80 hits on Startpage. What I didn't get was a definition (or even a listing) of this word in Dictionary.com. Hence my request.
Didn't knew Renault was not a truck maker... They stopped making planes trains and boats... but the trucks... what's next ? giving up on cars altogether ?
renault make cars??? lol outside of the EU they have zero presense