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Gold/Mining/Energy : Atacama Minerals -- Ignore unavailable to you. Want to Upgrade?

To: kingfisher who wrote (48)	2/6/1998 3:44:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 105

<Picture: Reuters> [ Business \| US Market \| Industry \| IPO \| S&P \| International \| PRNews \| BizWire \| Finance Home ] ------------------------------------------------------------------------ Friday February 6, 1:10 pm Eastern Time Chile's Soquimich to increase capital by $80 mln SANTIAGO, Feb 6 (Reuters) - Shareholders in Chilean chemical and fertilizer producer Soquimich (SQMa.SN) (SQM - news) approved Friday a capital increase of about $80 million to finance the firm's investment plans. The company will raise the capital through a stock issue of 23 million A series shares, the equivalent of about 10 percent of Soquimich's current shares, said General Manager Patricio Contesse. The shares will be offered at the end of the first quarter or the beginning of the second quarter, he said. The company plans to invest $600 million between 1998 and 2000 to increase its consolidated sales by more than $300 million a year, he said. Its sales for the nine months through October 31, 1997 totalled $397.3 million. The company has not yet reported its full year results. Soquimich will finance its investment plan using $400 million of its own funds, a $120 million syndicated loan led by ING Barings, and the capital increase. With the new money, Soquimich plans to increase its production of fertilizers and chemicals as well as begin producing 1.5 million tonnes of cement. ------------------------------------------------------------------------ More Quotes and News:Sociedad Quimica y Minera de Chile SA (NYSE:SQM - news)Related News Categories: IPOs, US Market News, international ------------------------------------------------------------------------ Help ------------------------------------------------------------------------ Copyright c 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon See our Important Disclaimers and Legal Information. Questions or Comments?