News in brief

T&N buyout flops

A planned management buyout of the former T&N bearings business from US owner Federal-Mogul has failed. Federal-Mogul said this week that the business, worth about £300m, was still up for sale People moves, page 8

£40m Railtrack order

Railtrack has placed a £40m order for 25 special multi-purpose vehicles with manufacturer Windhoff of Germany. The bogies will be powered by Volvo Penta 265kW diesel systems.

Consultancy hatched

UK management consultancy Beddows is merging with Canadian consultancy Hatch. Both are specialists in the metals and minerals sectors.

BTP sells division

BTP, which wants to focus on fine and speciality chemicals, has sold its safety equipment division to private equity group Electra Fleming for £100m. The division reported operating profits of £10.2m on turnover of £54.1m in the year to 31 March.

Balzers’ new coat

Balzers tool coating division is to invest £750,000 in a WC/C coating plant at its UK base in Milton Keynes. The process is used to coat precision components in machine tools and gears.

Semiconductor talks

Talks are being held with potential investors about funding a buyout of part of the operations of National Semiconductor’s Greenock plant. Goldman Sachs has been appointed as business advisor. The US semiconductor company is closing part of the facility, with the loss of 600 jobs.

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