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.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Chairman of the Surrey-based, ready-mix concrete company RMC Group Jim Owen, believes that the devaluation of the pound sterling could help the group's financial position. RMC profits have fallen to 62.1 million pounds sterling in the first half of FY 1992 from 69.9 million pounds sterling in 1991. RMC's most lucrative business comes from Germany where it owns major concrete works and 8 ready-mix companies. It intends to invest 250 million pounds sterling in eastern Germany in 1990 to 1995.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
UK building materials company MB Caradon has cancelled its debts by the sale of its 25.5% stake in the French packaging company Carnaud Metal Box for 473 million pounds sterling. It intends to compete for 1 of the top 10 postions of European building material companies through the purchase of either Marley, Ibstock Johnsen or Tarmac's building products division. Caradon protected its position throughout the recession making a profit of 126 million pounds sterling in 1992.
User Contributions:
Comment about this article or add new information about this topic: