ERATech, developer of technology for processing of organic waste into fuel for manufacturing cement, hopes to raise £8m through a flotation. A pathfinder prospectus has been issued.
Houghton takes over
Heat treatment company Houghton Vaughan has acquired Salt Bath Technology from Dureferrit Thermotechnik of Germany. A new division, Houghton Vaughan Dureferrit, will operate from October from Houghton’s plant in Manchester.
India Harrier deal
The Indian Navy has bought two two-seat Harrier T. Mk 4 training aircraft which have been declared surplus by the MoD. The Harriers will be refurbished by British Aerospace under a £16.5m contract and will be delivered in 1999.
Backing for Emta
Education minister Baroness Blackstone has promised Government support for the Engineering and Marine Training Authority in its drive to promote vocational qualifications. Emta last week became a designated National Training Organisation.
AEA Technology has acquired environmental engineering firm Environmental Resource Group from Southern Water in a deal eventually worth £6m.
No support for arms
Britain will no longer offer export credit guarantees for arms sales to poor countries which are heavily in debt, Chancellor Gordon Brown told Commonwealth finance ministers on Tuesday.
Belfast shipbuilder Harland and Wolff has reported £2.5m pre-tax profit for the first six months of this year. The repair yard recorded a profit of £800,000 on turnover of £84.2m. It broke even in the corresponding period last year.