CEE Oct-Dec 2002

I I . i . NUGGETS OF WISDOM I Dl E DILIGE~CE !Jnon Tellmar Wi th conso l idation, such an inherent theme withi n the cement industry . thi s article focuses its nttcntion on clue di li gence -an important part of any merger or acq ui sition. A Ith ough it s main purpose is to establish any liabilities hc ing undertaken by the purchasing u>mpnll). it al so offers additional u~.:s for both the buying and the ~elling parties. Gu idelines for planning and prepari ng for due diligence arc presented wi th advice on how to manage its sometimes ti·cnct ic pace and thus aim towards <1 ·friendly ou tcome· for all concerned. Cement is a capital-intensive industry \\ ith most of a company's t:Jn g iblc assets concentrated in production and di stribution l~tciliti cs . Any buyer should wan t to make a comprehensive review of these assets. 1\ !though flow sheets. plant Iists and performance reports can be perused in the seller· s data '••om. it ic; essential that the buyer's •,·:1111 make si te visits to see the 1~1ctorics. The team should question p in111 management about pcr1onnance. and compare reported p.: r fn r 111 an cc and managemen t comments wi th th ei r own observations. In formation should he gathered on quali ty control and :1ccredi tation. env ironmental con trols. personnel numbers. work paltcrns and sa fety. as well as the basi c parameters or out puts. runnin g times and cnugy consumption. Is major capital c.\penditure urgently required for an y plnnt replacement. for de– bottlenecking. or for environmental protection'? Thi s is a sensiti ve subj.:ct. ~IS the sc ller wi II sec ir being used for negotiating a lower price or for inserting penalty clauses in the con tract. Maj or changes in clinker or cement stocks have accounting imp li cation s. A fu ll geo logical in vesti gat ion o f raw mate ri al reserves wou l d no rma ll y fall outsi de the time-frame of due dil igence. However, quarry plans and estimates of reserves need to be requested from the seller. Courtesy : fntemational Cement Review, Sep 02. Pp 73-76. E-mail: info•a·CemNet .co.uk Web: Wll'li'.CemNet.com ONE SrZE DOES NOT FIT ALL Joginder Singh- Ex Director C/31 Due to the hectic lifestyles and pressures most peop le face eve ryday. it is not surprising to experi ence bad moods. 13eing in a bad mood can seriously interfere with our work, relationships w ith colleagues. superi ors. subordinates as well as home life. It is generally not iced , in severa l studies. that women are almost twice likely to suffer from bad mood s and depressions, as compared to men. It is because, women spend a lot more time, thinking about, what is making them unhappy. T hi s introspect ion , sometimes , over trifles. can lead to bad moods . Whenever you are feeling low. do not wallow in sel f-pity. Instead take action to shed off that bad feeli ng. 13) behaving and th i nk ing cheerfu ll y. even in bad moods. frequent ly will uplift your spirits immediately. Change your tilinking./(Jr tlte better !\ rt~r becoming aware of negative thoughts. rep lace them. \ovith positive and good thoughts. 84 Sociali.mlion i.\· a good cu re j(Jr bat! moods A change of scene, atmosphere and company w ill have an upl ifting positi ve effec t on your mood Be active in defeating had mood.,· It may be a phone ca II, firing somebody, or conveying bad news. or something, which you hnve been dreading doing. ·Upbrace yourself and go for it. hend long. It will make you feel much better. Mix VII~J' wit it positil·e persons Mix w ith up-beat persons and talk about your problems and seek their guidance. It will li fr up your spirits. Prioritising and de legating is another way to beat bad moods Accomp li shing the most important tasks wi ll cheer you up. Never feel ashamed in asking for help. Be ltelpfiil Vi sit an ailing relative. help a friend, and do some volunteer \vork w it h a charity. to apprec iate hO\\ fo1tunnte you are in your Ii fe. A void blame game Be in charge or your own life yourself. Feel ing happy. cheer rul and good is your own responsibility and not of others. Cut out negative Tell it. that I am a winner and not a loser. Tell it that I totall y di sag ree with an) depress ing thoughts. Focus 011 lit e present Nobody. in th i s \\'Or iel. has found the anS\\ t:rs to his problems. by stari ng at the \\•all or brooding all by himse lf. B e 1/ 0 l'e l hy frying something lotal~p 11e1v Do nor hesitate to consult your doctor lor any signs or depression. Never even think twi ce. berore dec idi ng to seck proressional hel p.