Instead of giving customers Christmas gifts this year, Derek Jones Commercials is boosting the coffers of three national charities with donations totalling £5000 to the Macmillan Cancer Relief Fund’s Northampton Appeal, Papworth Hospital and SCOPE (formerly the Spastics Society).
Motorola and AMP in joint venture
Motorola and AMP have announced that they will create a joint development centre which will develop and market intelligent connection devices for the automotive sector. The venture will bring together embedded circuit solutions for Motorola with components and connector technology from AMP. The joint acitivity will provide car manufacturers with simpler and more cost effective systems for motor driven applications.
Nematron raises new finance
Following approval at its board meeting on 1 December 1998, Nematron completed a $1 million private placement of convertible promissory notes to a group of private investors, some of whom are current shareholders. Subject to shareholder approval, the notes are convertible into Nematron common stock at $0.25 per share, bear interest at 7% per annum, and become due on 31 March 1999.
New year, new name for Nemo
From 1 January, Nemo Pumps is operating under the new name Netzsch Nemo-Pumps. Commenting on the move, managing director Roger Willis says the change has been introduced to align the UK company with other Netzsch group companies around the world. The Netzsch group employs over 1,800 people and, in its 1997/98 financial year achieved a consolidated turnover of DM380 million.