Scottish Power has dismissed reports that a flotation of its telecoms subsidiary is imminent. The appointment of Bill Allan as new managing director at Scottish Telecom sparked rumours of an early flotation. But a Scottish Power spokesman said there are ‘no such immediate plans’. Allan, who joined the telecom business last year from Cable & Wireless, replaces Rod Matthews.
The Department of Trade and Industry has said it will not take a decision on the future of its £22m Civil Aerospace Research and Development (Carad) programme until next month’s DTI expenditure plan announcement. The possible cancellation of Carad has been on the DTI’s agenda since last year.
Memory Corporation of Dalkeith, Fife, which makes software and hardware for semiconductor manufacturers, is relocating to the Heriot-Watt Business Park on the outskirts of Edinburgh. The £2m expansion will more than double its workforce from 38 to nearly 80 over two years.
For sale in Norfolk
Specialist Norfolk firm High Technology Manufacturing been put up for sale by receiver KPMG. The car and agricultural transmission parts supplier employs 37 staff.
The Scottish electronics sector has suffered a further 300 job losses with the closure of US-owned AMP in Port Glasgow. Production at the factory, which makes electrical, fibre-optic and wireless interconnection devices, is being switched to Devon and abroad.
Solvera, referred to in The Engineer, News, 12 February, is in administration rather than in receivership as the story implied.