News in Brief

Glentay buys Coley

Milton Keynes-based engineering group Glentay, with a turnover of £10m and 170 employees, has acquired Lloyd Coley, Solihull-based subsidiary of Triplex Lloyd. The renamed Brauer Coley makes die sets, associated components and dowel pins.

Solar United

BP will install solar power panels to meet about 10% of the electricity needs of Newcastle United’s St James’ Park stadium as part of the redevelopment of the ground, which is expected to be complete in late 1999.

Hydra grows

Engineering group FKI has sold its Clarkson Osborn International subsidiary, which makes high-speed steel cutting tools, to Hydra Tools for £10m.

Size and value

The majority of medium-sized firms believe their shares are undervalued, according to a survey of finance directors by Hemmington Scott, the financial information provider.

Octel gets NY listing

Ellesmere Port-based Octel which makes tetraethyl lead for 80% of the world’s leaded petrol has begun trading on the New York Stock Exchange, following its spin-off from Great Lakes Chemical Corp. The move is to allow Octel to move into other speciality chemicals as world demand for leaded petrol slows.

Internet gains

Almost 10% of manufacturers use the Internet for customer transactions, according to a survey by Deloitte Consulting. This is expected to triple to 34% over the next two years, it adds.

Infra-red plans

Signal Group, the £5.5m turnover environmental instruments firm with operations in Surrey and Oxfordshire, has acquired the ADC Luft infra-red business of Halma. It will be combined with Signal’s infra-red business in a new division, Signal IRD.