Industry recorded heavy job losses in the past fortnight, including 670 posts at Grove cranes in Sunderland and 475 at Royal Ordnance weapons factories in Nottingham and the north-east of England. Industrial gases group BOC is shedding 500 jobs in Surrey and Sussex as part of a worldwide restructuring involving 5,000 jobs cuts. And in Peterborough, cigarette machine manufacturer Molins is shedding 260 jobs.
L Gardner, specialist engineer in the aerospace and mass transit markets, has acquired Cleveland Guest (Engineering) for £2.4m. Cleveland Guest, supplier of precision machined components to the aerospace industry, recorded pre-tax profits of £418,000 on a turnover of £5m in 1997.
Sydney Smith Dennis, the pressure gauge manufacturer based in Nottingham, has been bought by instrument manufacturer British Rototherm, of Port Talbot, for an undisclosed sum.
Copier case closed
A European Court of Justice case brought by the Committee of European Copier Manufacturers, which tried to force the EU’s Council of Ministers to extend anti-dumping duties levied on Japanese imports of photocopiers, has been thrown out. Costs have been awarded against the committee.
Despite the economic climate, Severfield-Reeve, the UK’s largest structural steel producer, has reported a 30% rise in interim pre-tax profits for this year to £5.1m. Turnover rose from £52m to £64m.
Sales of Delphi Automotive systems in 1997 were $32bn and not $1.2bn as reported in The Engineer on 7 August.
The Engineer will next be published on 4 September.