Donald Lindsay, president and chief executive officer of Teck Resources in his office on Burrard Street in Vancouver. $1.74-billion deal provides cash-strapped Canadian firm with strategic partnership China's unyielding appetite for commodities pushed Teck Resources Ltd. TCK.B-T and its CEO Don Lindsay into a near-death debt fiasco. Now, the Asian economic superpower is digging them out. In May of 2008, Mr. Lindsay led a group of Teck directors to Shanghai where they witnessed China's economic explosion in full swing. The board members were so awed by the building boom they became converts to the notion that Chinese metals demand would remain strong for years to come. Weeks later, they gave Mr. Lindsay the green light to go ahead with the $14-billion (Canadian) acquisition of Fording Coal – the top-of-the-market takeover that... [read full story]
