Article Abstract:
Kier Group has just undertaken an employee buy-out intiated by Hanson which acquired Kier in 1991 as part of the Beazer Group. Kier staff have a 45% stake, 73 directors a 45% stake and Hanson retains a 10% stake. More than 800 staff out of 1,800 applied for shares. Hanson has made a profit of 10 million pounds sterling. Chief Executive of Kier Group Colin Busby, wants a low-cost acquisitions to broaden Kier's business base. The acquisition of mechanical and electrical engineers IEI for 500,000 pounds sterling was part of this strategy.
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Article Abstract:
Polypipe PLC reported profits up by 11% in the last half 1991 and turnover increased by 35%. The plastic drainage, windows and furniture maker claims its success is due to prudent financial management and carefully selected acquisitions. However, the company is secretive about the performance of individual products. Founded in 1981, Polypipe has grown through acquisitions and plans to buy into the continental European market. Its strategy depends on product development and speedy supply of orders.
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Article Abstract:
Try Group is using the proceeds of its conservative past to fund an aggressive acquisition policy. The construction company's prudent management during the 1980s left it with 1.4 million pounds sterling in hand in 1991. The company has been acquiring house building and construction companies throughout 1991 and 92 and plans more. Although Try's main construction division is suffering due to the recession, the company is confident and expects the housing market to improve.
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