To: Mr. P. Sheehy
C.C. Mr. G.L. Dennis
Mr. B.P. Garraway
Imasco : CPC Meeting - 15th February 1989
one of the papers for the CPC'meecing with Hr. Crawford and Mr. Somers
of Imasco at 2.45 p.m. an Monday 15th February is their Long Range
Objectives document dated January 1988. Planning Department's comments on
this document are as follows:-
1. The planning timetable ouclined on pages 5 and 6 envisages that a
Corporace Planning 'IeLting will W held in late Hay to review and agree
strategic plans. The strate,,ic plans will then be used to guide the
developuent oi che annual and three-year planar which will be submitted
for approval at Iwasco's November Board meeting. The CFC might wish to
request chat a c-3py or che Scracegic Plan arising froia the ;Jay meeting
be sent co b-A.T Induscries for discussion by the C11C in early June so
that the results ut the discussion can be reflected in both the 1%.A.T
Induz;tries Strarc.-gic Review (scheduled for consideration at tile July
Board meeting) and in the subsequent Cuidelines.
2. Similarly, it wotild be hclpiul LI' copics oi the operatine, plais
considered by the Imasco Board La Noveottar could be- made available for
dibicussion hy the CPC and the 11.A.T Industries 3oard.
3. 14ch re;;ar@! co che Performance Objectives outlined on pages 31 and
32. the CPC wigbt wish to review wich lutasco the basis for believing
that these particular objectives are appropriate for Imasco and. in
particular:-
- how the tar:,ecs cozpare vich the performance of other well-run leading
Canadlan businessesi
- the extent to uhich chu targets for the real rate of growth and the
ruturn on fisads employed are achievable;
- the importatict! whicin 5-A.T IndUScries article" co Imasco 6ding
committed LU distributing at least 404 of rite current year-'a net
attributable carninqs.
4. Strategic issues which were identified in the Guidelines and/or tile
recent C11C discussion of the Wabco L987-1952 Plan, and iihLch could be
suggested au iceias to be covered Lit chair Scrategic Keview In [lay,
include-.-
- action to Lsaprovt: chc strength of Irta;ico's Lalauce shout,
- the need to imurove the profitability, perfort-nce and cash flow of
Uarditu's and Peoples, or to consider their possible divestment;
- plans for the expansion of r-inada TrustCo- and the addition of N)
complementary activities to extend tile Group's involvement in C)
financial services in Canada;
CC)
- B.A.T Industries' preference that Imasco's main emphasis should be on N)
developments in Canada rather chan the USA. (JI
G.J. Burgess
G.;B/DJA L2ch February 1968
BAT Industries document for 'Province of British Columbia 13 April 1999