British engineering group Siebe has ended a long-running dispute with management of its Japanese subsidiary, switching manufacturer Nemic-Lambda, which Siebe has a 50.6% stake in. Nemic-Lambda’s founder, who was at the centre of the row, resigned this week.
Palatable in Europe
British-designed pallets have been given European approval to be circulated throughout the continent, provided they meet the specifications set out by the European Pallet Association. The move will make it easier for UK logistics companies and manufacturers to plan exports of goods, as pallets will no longer have to be dumped or returned to the UK.
Sensor Systems Watchman is to create 90 jobs in Lurgan, Northern Ireland over the next four years, following an investment of £5.4m to make electronic fuel monitoring products for domestic and industrial oil tanks. The investment, on the site of a former Coates Viyella operation, is supported by £1m from the Industrial Development Board.
EC backs banks
A consortium of European banks NatWest, Deutsche Bank and ING has won EC backing for a project to develop a European-wide business appraisal scheme for technology-based and innovative firms. The end result will be an appraisal service for small and medium-sized firms in an attempt to overcome financial institutions’ faliure to understand and assess such businesses.