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  • Mark Beischel appointed to lead Global Consumer Products at EY - EY - Global
    Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom Mark Beischel appointed to lead Global Consumer Products at EY Press release Mark Beischel appointed to lead Global Consumer Products at EY London 31 January 2013 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY has announced the appointment of Mark Beischel as the new Global Sector Leader for Consumer Products Beischel will lead a global team of over 18 000 sector focused professionals that help clients make informed decisions and execute better and faster in the market place A graduate of General Electric s Financial Management Program Beischel originally joined EY in Indianapolis USA in 1986 working with consumer products and manufacturing companies and became a Partner in 1995 He is also a Certified Management Accountant and certified by the Association of Operations Management in Production and Inventory Management Beischel s most recent role has been as a Global Client Service Partner based in Cincinnati USA as well as serving as EY s Global Advisory Leader for Consumer Products Commenting on his new role Beischel says Our consumer products clients are increasingly global striving to better serve the billions of consumers in the developed and developing markets EY has a truly global footprint and services that help our clients optimize their global performance protect against global risks and grow their businesses It is a privilege to assist global consumer product companies to achieve their goals Steve Almassy EY Global Vice Chair Office of the Chairman Accounts and Industry adds I am really excited to welcome Mark to this global leadership role in Consumer Products Mark s experience and leadership will build on the great work that has already been achieved under his predecessor Howard Martin Ends Notes to Editors How EY s Global Consumer Products Center can help your business Consumer products companies are operating in a brand new order a challenging environment of spiraling complexity and unprecedented change Demand is shifting to rapid growth markets costs are rising consumer behavior and expectations are evolving and stakeholders are becoming more demanding To succeed companies now need to be leaner and more agile with a relentless focus on execution Our Global Consumer Products Center enables our worldwide network of more than 18 000 sector focused assurance tax transaction and advisory professionals to

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Mark-Beischel-appointed-to-lead-Global-Consumer-Products-at-EY (2016-02-10)
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  • The Mittelstand is feeling nervous as serious concerns remain on the future of the Eurozone - EY - Global
    according to EY s bi annual German Mittelstand Barometer 2013 based on a survey of 3 000 German SMEs carried out between December 2012 and January 2013 SMEs more optimistic about the future of German economy than 6 months ago But 1 in 3 German SMEs feel at risk if European downturn continues And 70 believe the worst of the Eurozone crisis is still to come The number of businesses who reported good revenues has slipped from 53 six months ago to only 39 today with 15 of the SMEs surveyed saying their profit margin is unsufficient compared to 8 six months ago This is the highest figure since early 2010 Despite gloomy expectations about their own business the Mittelstand is significantly more optimistic about the future of the German economy than it was six months ago Those responding as more confident up from 11 to 28 is now a higher number than those feeling less confident at 23 down from 45 in August 2012 Despite the uncertainty in both the German and wider European economy 24 of German SMEs said they were still pursuing further growth Employment still affected by the current economic conditions The lack of confidence in their own prospects also impacts the German labor market as the number of SMEs planning to increase their workforce has also fallen compared to August 2012 from 22 to 18 One in seven of the companies surveyed 14 are planning to reduce their headcount compared to 9 six months ago Peter Englisch Europe Middle East India and Africa s Family Business Leader at EY comments Due to the uncertain economic outlook companies are more cautious about their recruitment strategy and instead of investing in new hires they are currently getting ready for another downturn Cost reductions are most likely to be on the agenda The boom in the German labor market is probably over for the time being Stability among SMEs down access to funding remains challenging The economic market environment has deteriorated for many SMEs due to the weaker German economy and the weak economy in many parts of Europe The number of SMEs saying that their business is very stable has fallen from 30 in August 2012 to 23 the lowest figure since July 2009 By contrast as many as 11 of the companies surveyed said that there position was critical The weak economy is increasingly causing problems for SMEs says Englisch More and more SMEs are struggling with declining order volume and could face difficulties if the downturn continues Given it is now clear that Germany is not immune to the economic volatility SMEs need to be flexible and work on a number of scenarios which will help them prepare for the difficult times There is a polarization among the Mittelstand as Englisch explains Interestingly while some SMEs are fighting for their very existence bigger SMEs with an international presence are pursuing opportunities growth and winning additional market shares We expect consolidation in the Mittlestand especially if

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_The-Mittelstand-is-feeling-nervous (2016-02-10)
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  • Robust outlook for 2013 power and utility deals after a decline in 2012 - EY - Global
    two year high in 2012 with deal value rising to US 37 9b compared with US 22 5b in 2011 and contributing 31 to total 2012 deal value There was a continued desire to acquire quality assets with predictable cash flow such as regulated operations and long term contracted power plants 2012 also saw European utilities looking to generate capital through divestments prompting financial buyers to view it as the right time to build up their regulated asset portfolio However the second half of the year remained light on financial activity with deal values declining 74 in H2 2012 compared with H1 2012 driven by the delays in European utilities divestments plans and privatization programs which kept investors on the sidelines Specific country and regional trends drove transaction activity in 2012 In the Americas the total deal value and volume declined 58 2 and 16 2 respectively compared with 2011 Depressed natural gas prices prompted some market players to hold on to generation assets however falling margins pushed several hybrid utilities to reduce their portfolio of competitive generation in favor of redeploying capital into their regulated business Joseph Rodriquez EY Global Power Utilities Sector Resident says As a consequence of the depressed natural gas prices the US became one of the most active countries for generation deals during 2012 with financial players emerging as the most logical buyers of these assets Elsewhere in the Americas Brazil continued to entice foreign investors due to strong economic growth and significant energy infrastructure investment needs and in 2012 hosting 12 deals with a cumulative value of US 8b Looking ahead in 2013 it is anticipated that deal activity in the Americas will be fuelled by US based hybrid utilities exiting competitive generation assets and heightened investor interest in Latin America There is also the potential for billion dollar mergers in the US as utilities seek to rebalance their portfolios and get the right mix of regulated and unregulated operations Europe contributed close to 50 of total global deal volume and value in 2012 Divestment and privatization programs in Europe emerged as the strongest contributor to 2012 deal activity accounting for nearly 20 of European activity as a number of utilities divested non core assets to strengthen core businesses and expand in emerging markets The region also continued to be the focus for renewable energy transactions with wind the most active segment While subsidy cut announcements curtailed some activity momentum was maintained as utilities struggled to balance capital allocation and portfolio management while complying with aggressive environmental mandates In 2013 billion dollar deals are anticipated to come out of European utility divestment programs particularly on the regulated side where there is strong buyer interest Europe will also see a focus on renewables in 2013 however there may be the continuing challenge in 2013 to get certain over leveraged renewable projects into credit rated financial packages Within Asia Pacific large value transactions in China and Australia increased the 2012 deal value to US 30 1b

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Robust-outlook-for-2013-power-and-utility-deals-after-a-decline-in-2012 (2016-02-10)
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  • Record year for global oil and gas transactions in 2012 - EY - Global
    increase outside of North America as infrastructure ownership further disaggregates from upstream assets driven by capital allocation and regulatory factors Oilfield services fastest growing segment for a second year The fastest growing segment for transaction volumes was oilfield services repeating last year s healthy growth Total oilfield service volume of 212 deals was up almost 10 The aggregate deal value in 2012 dropped by a third to US 26b reflecting the absence of deals with scale comparable to the US 8 7b Ensco Pride merger of 2011 Brogan says Financial investors showed an increased appetite for oilfield services transactions playing a role in 3 of the segment s top 10 deals Access to new technologies particularly around subsurface applications which supports expansion into hard to access growth markets fueled trade players activity Transactions activities by region Africa s transaction volume increased from 93 in 2011 to 97 in 2012 Although there has only been a moderate increase in reported transaction volume with reported transaction values growing significantly with US 11 7b of deals in 2012 up from US 7 7b reported in 2012 Sinopec s US 2 5b acquisition of Total s 20 interest in Nigerian deepwater block OML 138 the largest oil and gas transaction in Africa during 2012 gave a significant boost to the average deal value The expected outlook for 2013 is for greater deal flow and consistency with the 2012 regional trends Australia s transaction activity was again relatively subdued The number of deals remained steady at 86 compared to 84 last year with limited opportunities available for M A activity However the deal value more than doubled from US 7 8b to US 16 2b Consistent with 2011 most of the transactions 88 were in the upstream sector This trend is likely to continue into 2013 Canada s oil and gas industry continues to be very active The volume of transaction activity in 2012 was up 18 compared to 2011 228 vs 193 but was dramatically higher in terms of deal values led predominantly by the upstream sector Deal value increased by 241 year on year from US 15 2b to US 51 9b mainly as a result of the US 15 1b CNOOC and US 5 8b Petronas deals In 2013 Foreign investors will likely be placing renewed emphasis on entering strategic alliances and joint ventures with Canadian domestic partners retaining some form of control The CIS region showed significant activity and the landmark oil and gas transaction of the year The deal value of transactions in 2012 tripled when compared to 2011 and reached US 77 3b mostly as a result of the acquisition of TNK BP by the Russian NOC Rosneft However the number of deals was down slightly from 2011 Europe s oil and gas sector delivered strong activity in 2012 Overall transaction volumes of 179 fell short of 2011 s 189 deals but their combined value of US 29 3b exceeded the 2011 level of US 24 1b Upstream where

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Record-year-for-global-oil-and-gas-transactions-in-2012 (2016-02-10)
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  • Early access to financial data from acquisition targets critical for greater transparency and investor confidence in post-deal reporting - EY - Global
    PR activities Analyst relations Fact and figures Share Companies undergoing acquisitions need to provide the right financial information as early as possible to their acquirer during the M A process to avoid problems occurring with integrating finance and accounting integration according to a new report by EY Aligned for growth Reporting on post deal success Sixty percent of senior finance and accounting executives across Europe surveyed for the report who had recently worked on an acquisition had difficulty acquiring information for financial statement disclosure Twenty one percent identified utilization and transparency of data as the most critical success factor in post transaction accounting integration The report surveyed 200 senior finance and accounting executives from 21 countries across Europe whose organizations have completed an M A transaction in the last three years and looks at the approaches taken to integrate finance accounting and reporting functions Andy Smyth Ernst Young LLP Financial Accounting Advisory Services FAAS Partner says As year end reporting deadlines approach companies are under pressure to be fully transparent with stakeholders The implications of inaccurate reporting immediately following the transaction are potentially very severe including a loss of management credibility and in some circumstances a restatement in a future period Finance functions access to robust information at the right time both pre deal and post deal reduces the risk of inaccurate reporting and allows management to communicate the financial impacts of an acquisition transaction to a company s stakeholders with confidence Scrutinize accounting processes and policies Getting the accounting fundamentals right is high on the priority list of CFOs FDs and financial controllers Of respondents who experienced issues with their financial reporting integration the majority 65 had major issues with differences in the application of accounting policies between the target acquisition and their own In particular 73 of finance directors and controllers who encountered issues with management reporting cited management reporting policies different from their own as the primary source of these problems Communicate and coordinate Clear and open communication between the acquirer and target prior to and throughout all key stages of the transaction was a priority among respondents in order to achieve effective post acquisition finance integration A third 33 of respondents who faced challenges with management reporting would in the future seek better alignment coordination and communication between the two businesses and would better leverage existing management information and due diligence to improve their understanding of the target s reporting processes Andy Smyth says Enterprises that are frequent acquirers know that a good partnership with the target s finance team is vital to a smooth integration process Establishing clarity over roles and responsibilities at an early stage and working visibly and collaboratively towards shared objectives will enhance the effectiveness of the integration team Plan well and plan early The survey showed that the timing of planning for post deal accounting and finance integration has a significant impact on the success or otherwise of the integration program Of respondents who had issues with management reporting 77 experienced

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Early-access-to-financial-data-from-acquisition-targets (2016-02-10)
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  • Better times on horizon for steelmakers who survive 2013 - EY - Global
    China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom Better times on horizon for steelmakers who survive 2013 Press release Better times on horizon for steelmakers who survive 2013 Sydney 21 January 2013 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Steelmakers will need to focus on restoring and maintaining value to survive 2013 and position for growth in the future according to a new EY report Global steel A new world a new strategy The annual report released today says excess steelmaking capacity globally will remain the biggest issue for the sector this year but the operating environment should improve from 2014 Mike Elliott EY s Global Mining Metals Leader says steelmakers will need to focus on strategic cost reductions and assess optimal capital structure The report also questions the assumption that vertical integration in the sector adds value The big challenge for steelmakers in 2013 is how to be cost competitive while maintaining enterprise value Elliott says Despite increased demand for steel and the removal of some older steelmaking capacity in 2012 the level of excess capacity is greater now than it was 12 months ago due to the continued growth in new steelmaking facilities Capacity utilization rates in the sector remain below 80 rising to more sustainable levels from 2014 Global steel demand is unlikely to improve sufficiently in 2013 to exceed the committed new capacity This combined with ongoing volatility in raw materials costs will challenge the sustainability of high cost producers says Elliott However the continued closure of older higher cost steelmaking plants and an increase in the rate of growth in demand should lead to improved profitability for the sector in 2014 and 2015 Elliott warns the wild card that could jeopardize the reduction in excess capacity was the potential for political initiatives seeking to protect jobs which could delay the closure of older higher cost steelmaking plants The propping up of zombie mills will only damage the global steel sector Is there value in vertical integration In recent years many steelmakers have integrated raw material mines into their supply chains believing they would protect value by removing volatility in the cost of raw materials However new EY analysis suggests that it may not always improve enterprise value The conventional wisdom is that overall enterprise value is improved with a vertically integrated business but our analysis shows this isn t necessarily the case for every business says Elliott Steelmakers should critically assess the value of vertical integration to their business and whether separation is more valuable They should consider alternatives to managing raw material costs and supply Strategic cost reduction essential Weak market conditions means cost reduction is essential for steelmakers sustainability

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Better-times-on-horizon-for-steelmakers-who-survive-2013 (2016-02-10)
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  • BRICs face competition as globalization creates new emerging players - EY - Global
    the highly volatile economic backdrop the trend for greater integration and closer co operation continues to outweigh the threat of protectionism for the majority of the world s markets However there are real concerns from the survey respondents that continuing weak growth combined with increased global competition could spark more protectionism in the next 12 months The respondents also specifically pointed to the increasing challenges of operating in some BRIC economies as well as slowing growth in some BRIC markets As a result nearly half of the survey s respondents expect an increase in protectionism in the BRIC countries as well as an increase in developed markets In contrast respondents see a decline in protectionism as more likely in other smaller rapid growth markets Rise of the second tier The Index highlights that non BRIC rapid growth markets are emerging as hot spots for global business thanks to a perception of being more globally integrated on a range of trade investment cultural and technological criteria than the BRICs These markets also show consistently high economic growth close to that of the leading BRICs Turkey Mexico and Indonesia closely shadow China and India in terms of GDP growth from 2000 through 2015 Peru Colombia Venezuela Malaysia and Vietnam as well as several countries and regions in Africa are all shaping up to be among the most dynamic parts of the world for investment The number of executives questioned who view rapid growth markets other than the BRICs as the most important source of new revenue nearly doubles from 26 today to 45 in three years time And they are planning accordingly with South Africa Indonesia Mexico and Turkey reported to be the most competitive locations Executives from all geographies expect to increase investment in these markets 82 plan to do so and 4 in 10 expect to increase it by more than 10 Turley explains Leading companies are adopting a multi market approach While the BRICs remain critical to their strategy executives are also looking closely at opportunities in non BRIC emerging markets where they are seeing improvements in the ease of doing business infrastructure government policies and labor productivity They re also discovering that a standard strategy for a group of markets e g an emerging markets strategy no longer works Instead what they will need are nuanced and customized strategies for different markets areas regions sectors and countries Mature markets remain critical While many of the non BRIC rapid growth economies are worth a big mostly long term bet the report reinforces that they are only part of the picture To create a well rounded portfolio investors will need to diversify their bets to include several mature markets which are making a comeback in certain areas and sectors Executives surveyed confirm that North America and Western Europe remain critical to protecting the bottom line Although new investment in these regions remains patchy high energy costs the decline in a labor cost differential between developed and developing markets and shorter

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_BRICs-face-competition-as-globalization-creates-new-emerging-players (2016-02-10)
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  • Access to funding the biggest hindrance for oil and gas investments in 2013 - EY - Global
    again be relied upon to provide the momentum for recovery in the global economy However there are reasons to believe that there are more upside opportunities than downside risks for the oil and gas sector in the year ahead He added There is no shortage of investment opportunities available to oil and gas companies The key issue as it has been since the onset of the financial crisis will be access to capital Cash constraints among small to mid sized companies are likely to be a key driver for both asset and corporate opportunities in 2013 resulting in further consolidation in the independent sector However the findings of our Global Capital Confidence Barometer showed that oil companies appetite for acquisition activity was muted Many are concerned about the gap between their valuation of potential acquisitions and the prices sought by sellers Supported by greater confidence in the oil price outlook and strong gas prices outside North America upstream spending hit a record high in 2012 Capital investment by oil and gas companies in 2013 is expected to increase at a slower rate of around 8 10 according to industry estimates Exploration and development of conventional resources will continue to account for the majority of upstream spending In North America spending particularly in the unconventional sector is likely to hold up However the share of investment dedicated to unconventional resources outside North America will increase at a more modest pace as progress in developing these resources will be more gradual Rapid expansion in non OPEC oil production The rapid expansion in tight oil production in the US is helping reshape the global oil production outlook The US will be the main contributor to the forecast increase in non OPEC oil supply over the next 10 years Investment in Canada s oil sands and the ramp up of production from Iraq along with the gradual development of Brazil s pre salt reserves will ensure that markets remain well supplied in the next few years This should help moderate oil prices although instability in the Middle East and the political divisions that remain in Egypt and Libya will lead to some price volatility If oil prices fall below US 90 per barrel for a sustained period OPEC may decide to take action to support prices by lowering its output ceiling Commenting on the outlook for global gas markets Nijoka says The immediate focus will be on delivering on the capital intensive LNG projects in Australia which will turn the country into one of the world s largest liquefied natural gas LNG exporters and implementing plans to monetize the significant gas discoveries made off East Africa The spread between gas prices in North America and both Europe and Asia is unlikely to narrow until more gas supplies are brought on stream closer to demand centers or until the US or Canada begin to export liquefied natural gas Cost inflation a growing challenge The high level of activity across the industry suggests that cost inflation

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Access-to-funding-the-biggest-hindrance-for-oil-and-gas-investments-in-2013 (2016-02-10)
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