News in brief

Insecure IT

Senior managers are costing their companies billions of pounds by not taking IT security seriously, minister for small firms Barbara Roche warned this week. An NOP study found that the average cost of a security breach was more than £20,000 three times more than most managers thought.

Engines for JCB

Perkins Engines of Peterborough, which has been acquired by US firm Caterpillar, has agreed a long-term supply deal with JCB, which could involve the supply of 25,000 engines a year by Perkins.

Steel structure up

Wescol, the specialist supplier of structural steel, doubled its turnover in the six months to the end of January to £32.8m, while profits trebled to £1.9m.

Dockyard report

The National Audit Office plans to publish a report by the end of May on the privatisation of the royal dockyards in Devonport and Rosyth. The NAO looks set to criticise Devonport’s cost increases since the last Government decided to refit Trident submarines at Devonport rather than at Rosyth.

Space trio

The Government announced a £21.2m package of investments in three European Space Agency programmes last week.

Hadland snapped

DRS Technologies of the US has bought Hadland Photonics of Tring in Hertfordshire for about $6.4m (£3.8m) cash. Hadland makes ultra high speed cameras for industry and military customers. The latter has included the Atomic Weapons Establishment, which used the cameras during nuclear testing.