Inasco, Plan 1991-1995
Points arising from the CPC discussion of the Imasco Plan were as
follows:-
1. B.A.T Industries will wish to be involved in Imascols proposed review
of their corporate objectives - redefining shareholder value and
considering again whether their growth targets are both appropriate
and achievable.
1
2. The more realistic attitude now being taken to Hardee's was welcomed
and the CPC looked forward to reviewing both the revised 3 year plan
(due Ist quarter) and the strategies for divestment (due by
mid-year).
3. The CPC also looked forward to receiving the 3 year plan for CT
Financial.
4. Inasco were urged to accelerate the controlled withdrawal from the old
Genstar businesses and to consider selling the Life policies in the
Genstar Company.
5. Imasco were also urged to be rigorous in evaluating how the returns in
UCS could be improved.
6. The Importance of continuing to seek. ways to strengthen the Balance
Sheet was stressed. The enforced sale of 35% of CT and the Hardee's
divestment will be relevant to this.
7. Other key issues noted as being important were:-
(a) The dispute about whether C51 is Constitutional (judgement due
in February).
(b) The possible ban on selling tobacco products La pharmacies.
RS/DJA
1st February 1991
C)
M
BAT Industries document for Province of British Columbia 23 April 1999