Question · Q3 2015
Raymond Hau from Comprehensive Financial inquired about who is leading the asset rationalization, the status of creative solutions for these assets, their interim holding costs, and requested a breakdown of the '$152 million of other assets' on the balance sheet.
Answer
CEO Gerardo Cortina named Michael Smith as the lead on asset rationalization. CFO Sam Morrow noted that while all options are open, the market is difficult. Morrow provided a breakdown of 'other long-term assets,' including real estate (~$40M), two power plants (~$25M each), China equity investments (~$10M), and deferred tax assets (~$20M), and offered to provide holding cost details separately.