UVV » Topics » Investing Activities

This excerpt taken from the UVV 10-Q filed Nov 8, 2006.

Investing Activities

During the six-month period ended September 30, 2006, we invested about $16 million in our fixed assets which was $8 million less than our depreciation expense for the six months of $24 million. The reduction in spending is part of our plan to improve cash flow. In the first six months of fiscal year 2006, capital spending was $38 million as we completed the construction of a processing facility in Mozambique which began processing tobacco in the quarter ended September 30, 2005.

The balance of machinery and equipment decreased by about $83 million relative to September 30, 2005, because of the deconsolidation of Zimbabwe operations, the sale of some assets, last year’s restructuring charge for the closure of the Danville factory, and last quarter’s impairment charge related to our Zambian operations. The asset sales and the Zambian charges also caused a decline in the balance compared to March 31, 2006.

This excerpt taken from the UVV 10-Q filed Aug 9, 2006.

Investing Activities

During the quarter ended June 30, 2006, we invested about $13.1 million in our fixed assets, which was $4.6 million less than our depreciation expense for the quarter of $17.7 million. The reduction in spending is part of our plan to improve cash flow. In the first quarter of fiscal year 2006, capital spending was $27 million as we completed the construction of our Mozambique facility.

 

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This excerpt taken from the UVV 10-Q filed Feb 9, 2006.

Investing Activities

 

During the nine-month period ended December 31, 2005, we invested about $61 million in our fixed assets. The largest portion of that was spent in Africa where we completed the construction of a processing facility in Mozambique. The new facility began processing tobacco in August 2005. We have decided to curtail capital spending as part of our initiative to reduce debt, and for the quarter, our capital spending was below depreciation expense.

 

During the quarter, we reflected the completion of a small acquisition in Holland as a use of funds. We set aside funds for the acquisition in the fourth quarter of fiscal year 2005, but did not take control of the company until the third quarter of fiscal year 2006. The funds used were from an escrow deposit account and did not require the use of new borrowings.

 

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This excerpt taken from the UVV 10-Q filed Nov 9, 2005.

Investing Activities

 

During the six-month period ended September 30, 2005, we invested about $47 million in our fixed assets. The largest portion of that was spent in Africa where we completed the construction of a processing facility in Mozambique. The new facility began processing tobacco in the quarter ended September 30, 2005.

 

This excerpt taken from the UVV 10-Q filed Aug 9, 2005.

Investing Activities

 

During the quarter ended June 30, 2005, we invested about $27 million in our fixed assets. The largest portion of that was spent in Africa where we are completing the construction of a processing facility in Mozambique.

 

This excerpt taken from the UVV 10-Q filed Feb 8, 2005.

Investing Activities

 

During the nine months ended December 31, 2004, we invested about $67 million in our properties. The largest portion of that was spent in Africa, where we are building a processing facility in Mozambique. Spending was nearly the same during the nine-month transition year 2004 as construction of the new North Carolina plant was completed.

 

Our lumber and building products segment acquired three small companies that manufacture and distribute garden products, and our agri-products group acquired the controlling interest in a small company that trades nuts and dried fruits.

 

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