IN BRIEF (Page 16)

Thomson down

Thomson SA, the world's largest supplier of set-top boxes, said third-quarter sales fell 2.2 percent, hurt by the dollar's decline against the euro.

Revenue in the quarter through September dropped to 1.38 billion euros from 1.42 billion euros a year earlier, Thomson, based in the Paris suburb of Boulogne-Billancourt, said yesterday.

Likely successor

Scania AB may name Martin Lundstedt chief executive officer to succeed Leif Oestling, Dagens Industri reported, without citing anyone.

Lundstedt, born in 1967, has been working at Scania since 1992 and may take over at the company when Oestling's contract expires in early 2009, the newspaper said.

Acquisition 'soon'

Assicurazioni Generali SpA Chairman Antoine Bernheim wants to make an acquisition "soon" to boost the insurer's size and protect it from possible takeovers, Il Sole-24 Ore reported, citing an unnamed banker.

A group of non-Italian investors in Mediobanca SpA, Generali's biggest shareholder, want to take control of the Trieste-based insurer, the newspaper said.

Revenue rises

Synthes Inc, the world's largest maker of devices to mend broken and malformed bones, said third-quarter revenue rose 16 percent after the company expanded its range of spine and trauma products.

Sales increased to $689.2 million from $595.1 million a year earlier, the Oberdorf, Switzerland-based company said yesterday. Synthes doesn't provide quarterly earnings figures.

Mothercare advances

Mothercare Plc, a UK retailer of clothes and accessories for babies and children, said second-quarter sales advanced, fueled by expansion in emerging markets and the acquisition of Early Learning Center toy stores.

Sales climbed 5.2 percent in the 13 weeks ended October 13 on a comparison that assumes Early Learning Center had been owned the year before, rising 3.4 percent at UK stores open at least a year on that basis, the Watford, England-based company said.

Honda to cut target

Honda Motor Co, Japan's second-largest carmaker, will cut its domestic sales target next week because of declining demand for autos in the country.

The company will lower its goal when it releases earnings on Thursday, said Executive Vice-President Koichi Kondo, speaking to journalists in Tokyo. Honda said in April it may sell 690,000 vehicles in the 12 months ending March 31, down 0.2 percent from a year earlier.

Shipping agreement

Hanjin Shipping Co, South Korea's largest sea carrier, will construct its first terminal on the US East Coast to expand the company's biggest shipping route.

Hanjin signed an agreement with the Jacksonville Port Authority in Florida to build its dedicated terminal in the US port, the Seoul-based shipping line said yesterday.

Nexans gains

Nexans SA, the world's biggest maker of cables and wires, said third-quarter sales adjusted for copper-price fluctuation rose 9.4 percent, boosted by demand from energy companies.

Revenue on that basis climbed to 1.166 billion euros from 1.066 billion euro in the year-earlier period, the Paris-based company said in a statement yesterday.

Power firm for sale

Temasek Holdings Pte will put Tuas Power Ltd up for sale, the first of three utilities the Singapore government-owned investment company plans to sell in transactions that may be worth more than $5 billion.

The sale of Tuas Power will be completed in the first quarter of next year, Temasek said yesterday.

Bloomberg News

(China Daily 10/19/2007 page16)