Dutch chemicals group Akzo Nobel this week announced the expected £1.8bn agreed bid for Courtaulds, the paints and fibres producer. Other potential bidders include ICI and PPG of the US, which have had talks with Courtaulds. Akzo wants to merge the fibres business with its own and then spin it off, while selling the smaller polymers division.
The UK could miss out on up to 100,000 new jobs in the next 10 years, if inward investment by the Asian economies dries up. EU enlargement and monetary union are also likely to change the investment climate, says consultancy Business Strategies.
Racal Telecom has won a £5m contract to supply the Department of Social Security with a LAN interconnection service across 160 sites. The service will be provided over the next three years by Racal’s Government Data Network.
Building company Newmond, of Tamworth, has bought IMI’s £45m turnover Birmingham-based water-heating business for £20m.
S for Jaguar
Jaguar’s next car, code-named X200, is to be called the S-type and goes on sale next year. To be built at a new plant in Castle Bromwich, the car is expected to be powered by the first of a new range of engines.
Am-Safe takes over
Restraint-systems designer Am-Safe has acquired Aerospace Restraint Company, an Ipeco Aerospace subsidiary. ARC manufacture moves from Essex to Hounslow.
Amec for Sellafield
Amec has won a £40m contract from BNFL to design, engineer and construct a building at Sellafield that will form part of a new waste retrieval plant.