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While Mironivka 's scientists , some unpaid for months , carry on developing new strains of wheat resistant to Ukraine 's extreme continental climate , Borsuk said the lack of cash in Ukraine 's agricultural sector is as bad as the drought .
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6,201
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Collective farms and Ukraine 's nascent private farming sector have no money for fertiliser , no money for herbicides and pesticides , no money to repair old or buy new machinery , no money for fuel , and none to buy good seed .
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6,202
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This year 's harvest is down from last year 's 36.5 million tonne harvest , which in turn compares with 50 million tonnes in 1990 , the year before independence .
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The decline is all the worse for people who recall wasteful Soviet times , when the Kremlin imported grain but priced bread so cheaply that people bought it to feed their pigs .
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" Agriculture is very expensive , and there are no solutions to our problems on the horizon , " said Odnosum .
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He said his farm , its 260 workers now readying the fields for winter wheat sowing , expected the land to yield 5.2 tonnes per hectare ( 2.5 acres ) but ended up with 3.9 tonnes -- still better than the national average of 2.11 tonnes per hectare this year .
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" We did not have money for fertiliser , we 're in debt for fuel , and we 're borrowing diesel , " Odnosum said .
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A few kilometres ( miles ) down the two-lane road which passes Odnosum 's farm , where the occasional horse-drawn buggy passes by , is the 1,700-hectare ( 4,200-acre ) Shevchenko collective farm , built next to a village still neat and tidy despite post-Soviet decay .
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Chief Accountant Natalya Sypron said the collective is strapped for cash , earlier this year bartering 220 tonnes of grain for diesel to fuel six rickety grain combines and tractors badly in need of repairs and basic maintenance .
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The average family earns 160-200 million karbovanets a year ( $ 800 - $ 1,000 ) -- but many have not been paid in months , Soprun said . "
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6,210
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People are working out of their own dedication . "
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Borsuk said the farm sector has two options : " We can sit down and cry , or we can do something . "
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He said the government plans to increase the sowing of the winter wheat which will be harvested next year .
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Planted in late summer and early autumn , the grain is Ukraine 's largest export item and traditionally grows better than summer wheat in Ukraine 's soil .
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6,214
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Further plans , he said , called for full provision of resources like fertiliser and herbicides for 25 percent of Ukraine 's arable land next year , for 50 percent in 1998 and 100 percent of the land in 1999 .
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" If we follow this we 'll be able to sell 10 million tonnes of grain by the year 2000 , " Borkus said .
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The government has been trying to phase out huge subsidies to the farm sector , and in a move back to pre-Soviet days has given up to 50 hectares ( 124 acres ) of land to some 36,000 private farmers willing to go it alone .
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6,217
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Collective farms will last for the next few years , because most private farms now only produce enough to feed themselves with maybe a little extra to sell , said one private farmer : " In the future , maybe , but it 's better not to hurry .
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" Collectivisation brought us a lot of pain .
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And it went too fast .
{"person": [], "organization": [], "location": [], "miscellaneous": []}
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Privatising too quickly can also have a negative outcome . "
{"person": [], "organization": [], "location": [], "miscellaneous": []}
6,221
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Gencor swells profit despite setbacks .
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6,222
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Melanie Cheary
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JOHANNESBURG 1996-08-26
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Gencor Ltd on Monday said it had swelled its year attributable profit and streamlined operations to strengthen it for the current financial year despite a variety of divisional setbacks .
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6,225
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Announcing the group 's results for the year ended June 30 , chairman Brian Gilbertson said : " Happily the strong improvement in financial performance is not an illusion arising from the recent weakness of the rand relative to the dollar . "
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6,226
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Gencor raised attributable earnings to 1,803 million rand from 1,003 million rand previously - in dollar terms an increase to $ 469 million from $ 279 million - and won despite the group 's Impala Platinum Holdings Ltd posting dismal results .
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6,227
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" Not everything has gone well .
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6,228
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We 've had substantial production difficulties at a number of our operations .
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The most obvious one with the greatest effect on the corporation was at Impala where we had the furnace failure , " Gilbertson said .
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Implats posted year attributable profit of 176 million rand from 281 million previously .
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6,231
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Not only did the company lock in 3.92 rand per dollar in February / March , but it suffered output losses due to a furnace shutdown last August .
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6,232
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The rand was last bid at 4.5350 against the dollar .
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6,233
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Nor was Implats the only operation to fail output targets .
{"person": [], "organization": ["Implats"], "location": [], "miscellaneous": []}
6,234
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Ingwe Coal Corporation Ltd was hit hard by heavy rains .
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6,235
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It forfeited nearly one million tonnes of production to flooding at its mines in Mpumulanga province .
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But Gilbertson said the greatest gloom in the year came from the European Commission 's blocking of Implats ' proposed merger with Lonrho Plc 's platinum interests .
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6,237
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" The big disappointment for the year was the failure of the platinum merger .
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From Gencor 's perspective we are taking the position that it is not on , " Gilbertson said .
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6,239
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Looking ahead to the current financial year , he said that Gencor would boost earnings further .
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" Gencor is well placed to take up the challenges of the future .
{"person": [], "organization": ["Gencor"], "location": [], "miscellaneous": []}
6,241
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The group is soundly structured and prudently financed and is blessed with an excellent portfolio of world-class businesses .
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I think we can look forward to further growth " .
{"person": [], "organization": [], "location": [], "miscellaneous": []}
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Citing the disposal of Gencor 's stake in industrial holdings group Malbak Ltd for one billion rand among other smaller disposals , Gilbertson said Gencor had pruned its portfolio to concentrate on core assets .
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6,244
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" We 've tried to clean up our overall portfolio by disposing of non-core assets .
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6,245
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The biggest of those was Malbak .
{"person": [], "organization": ["Malbak"], "location": [], "miscellaneous": []}
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Overall a very substantial pruning ...
{"person": [], "organization": [], "location": [], "miscellaneous": []}
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leaving Gencor clearly structured along commodity lines , " Gilbertson said .
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6,248
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He added that the group still had about 85 million rand after tax invested in various shares , which were market for disposal when required .
{"person": [], "organization": [], "location": [], "miscellaneous": []}
6,249
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Referring to Gencor 's increased 41.5 percent stake in Ingwe , Gilbertson said the group would wait for coal shares to be cheaper before considering snapping up more .
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6,250
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" I think we would have liked to have more of Ingwe but it 's the question of adding value .
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6,251
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When we bought the shares we bought ...
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at quite a bit lower than the price is now ...
{"person": [], "organization": [], "location": [], "miscellaneous": []}
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maybe if we just wait another few years for the next downturn in coal . "
{"person": [], "organization": [], "location": [], "miscellaneous": []}
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Finally , Gilbertson said a growing proportion of Gencor 's income was coming from offshore and unlisted investments .
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6,255
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-- Johannesburg newsroom +27 11 482-1003
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6,256
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Advanced Medical buying IVAC Medical .
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6,257
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SAN DIEGO 1996-08-26
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6,258
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Advanced Medical Inc. said Monday it will buy IVAC Medical Systems Inc. , a former Eli Lilly & Co .
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6,259
train
0
unit , for about $ 400 million in cash , creating one of the world 's largest makers of intravenous infusion therapy products .
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6,260
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Under the agreement , IVAC and Advanced Medical 's wholly owned subsidiary , IMED Corp. , will merge to form a new company that will develop and manufacture infusion pumps that regulate the amount of intravenous fluid being administered to a patient , as well as proprietary disposable products .
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6,261
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The combined company will have estimated revenues of $ 353 million .
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6,262
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Advanced Medical , through IMED , is already one of the nation 's largest developers and manufacturers of intravenous infusion pumps and proprietary disposable products .
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6,263
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It has sales in 38 foreign countries .
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6,264
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San Diego-based IVAC is a major provider of infusion systems and related technologies to the health-care industry .
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6,265
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It has manufacturing plants in San Diego ; Creedmoor , N.C. ; Hampshire , England ; and Tijuana , Mexico , and distributes its prodcuts in more than 120 countries .
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6,266
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Eli Lilly sold IVAC on Dec. 31 , 1994 to DLJ Merchant Banking Partners LP , River Medical Inc. and other investors .
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6,267
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Advanced Medical said it expects to take an unspecified one-time charge to pay for the merger .
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6,268
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It did not say when the charge would be taken .
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6,269
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" The addition of IVAC is expected to contribute to financial results in the full second quarter of 1997 , " the companies said .
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6,270
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The merger will add to both companies ' historical leadership in infusion therapy and technology-based drug delivery devices , they said .
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6,271
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In 1968 , IVAC introduced the world 's first infusion therapy monitoring device .
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6,272
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A year later IVAC improved its system with the addition of an IV pump that regulated the flow of liquids through positive pressure .
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6,273
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IMED introduced the world 's first volumetric infusion pump in 1974 .
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6,274
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IMED had profits of $ 1.7 million , or 6 cents per fully diluted common share , on $ 53.9 million in revenues in the first half of 1996 .
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6,275
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Excluding the effect of a one-time restructuring charge of $ 17.4 million , IVAC had net income of $ 4.2 million on net sales of $ 112.8 million for the 1996 first half .
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6,276
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Advanced Medical reported profits of $ 8.4 million on sales of $ 29.2 million in the quarter ended June 30 .
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6,277
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William J. Mercer , IVAC president and chief executive officer , will become the president and CEO of Advanced Medical .
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6,278
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He led the transition of IVAC to a privately held company and was previously senior vice president at Mallinckrodt Group Inc .
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6,279
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Joseph Kuhn , Advanced Medical and IMED president , will become the new company 's executive vice president and chief financial officer .
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6,280
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The deal is expected to close by the first quarter of 1997 , subject to regulatory approval .
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6,281
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It has already been approved by both companies ' boards .
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6,282
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Dow rises on Philip Morris , other stocks lower .
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6,283
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NEW YORK 1996-08-26
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6,284
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The Dow Jones industrial average opened slightly higher on Monday , boosted by Philip Morris , which gained four to 92 .
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6,285
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Other shares were slightly lower , mirroring bonds .
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6,286
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The Dow was up eight to 5,731 , while the NASDAQ Index was off fractionally to 1,143 and the S&P Index down one to 666 .
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6,287
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New York Stock Exchange advances lagged declines by 476/698 while NASDAQ advances led declines 837/763 .
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6,288
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The 30-year U.S. Treasury bond was off 2/32 to yield 6.96 percent .
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6,289
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RUGBY LEAGUE - ST HELENS CLINCH SUPER LEAGUE TITLE .
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6,290
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ST HELENS , England 1996-08-26
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6,291
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St Helens completed their first league and Challenge Cup double in 30 years on Monday when they thrashed Warrington 66-14 to clinch the inaugural Super League title .
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6,292
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St Helens secured the two points they needed in the last game of the season at Knowsley Road to win their first championship since 1975 and their first double since 1966 .
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6,293
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In rain-soaked conditions , centre Alan Hunte grabbed a hat-trick of tries , while Tommy Martyn , Anthony Sullivan and Paul Newlove each scored two .
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6,294
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Captain and goalkicker Bobbie Goulding scored 18 points .
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6,295
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St Helens 's triumph marked the end of Wigan 's seven-year reign as British champions .
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6,296
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St Helens needed to win on Monday to take the title -- a defeat or draw would have allowed Wigan their eighth consecutive championship .
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6,297
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They were also the toast of London Broncos , who managed to scrape into the top four ahead of Warrington and qualify for the end-of-season play-offs .
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6,298
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Bradford finished third .
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6,299
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St Helens have now set their sights on taking the treble by winning the end-of-season premiership which begins with next Sunday 's semifinal against London .
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