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Top story
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FLAG waves in Middle East
The Fleet Auction Group (FLAG) has outlined details of a major partnership with a Kuwait consortium, Ijara House Holding Company. As part of the multimillion-pound joint venture, Coalville-based FLAG will enter the Middle East when the first official Remarketing Centre is opened in Kuwait. Negotiations for further centres are under way with other Middle East countries including Saudi Arabia and The United Arab Emirates. Ijara House Holding Company, a consortium of four Kuwait businesses with a combined asset value in excess of £5.5bn, is headed by Jamal Homoud Al-Omani, one of the leading experts in the Middle East motor industry. Skye Corporate Finance and Howes Percival advised FLAG.
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Caterpillar axes 320 temp jobs
The building services division of Caterpillar has cut 320 temporary jobs at its Desford plant, blaming the credit crunch. The latest redundancies come just 12 months after another 200 temporary workers lost their jobs at Caterpillar, and two years since 295 people were made redundant when the company transferred a production lines overseas. The company has said permanent staff will be unaffected. 
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Mercantile buys Humberts in pre-pack deal
Mercantile, the co-owner of Chestertons, has bought Humberts, the 165-year- old estate agency, for £3.1m. Mercantile, which is run by Libyan-born property entrepreneur Salah Mussa, has agreed to buy the majority of Humberts as part of a pre-pack deal, which are normally struck before a company goes into administration. Humberts has branches throughout the East Midlands, including Lincoln, Grantham, Stamford, Melton Mowbray, Newark and Nottingham.
Neutrahealth swaps businesses with US group
Healthcare group Neutrahealth has played swap with a US drugs business. The AIM- listed group has bought the UK arm of American vitamin and mineral supplement supplier Perrigo for £6.4m. It is based Swadlincote, Derbyshire, and will be renamed Brunel Healthcare Manufacturing. Meanwhile, Perrigo has taken over Neutrahealths over-the-counter pharma business in Bristol.
Greetings for Watermark
Corby greetings cards publisher Watermark Publishing has completed a refinancing of its working capital facilities with a £10m flexible asset-based lending package from KBC Business Capital. Watermark has a turnover of nearly £30m and employs more than 150 people.
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Back to school for Carillion
Carillion has agreed a £208m deal with the Local Education Partnership (LEP) to build and upgrade eight secondary schools in Nottingham. The construction business will invest about £4m of equity in the project, carry out construction work valued at £180m and provide facilities management to three of the new schools, worth £28m over 25 years. In addition, there is potential to build three academies, two of which are being developed by the LEP. Building work on the new schools will start this month and will be completed in 2010.
Arttic rolls into Derby
Arttic, the newly-formed UK division of a French research and development consultancy, has moved to the iD Centre in Derby. Arttic is a consultancy that specialises in helping organisations develop proposals to get funding for international research and development projects. It decided to open a division in the UK after being appointed by Rolls-Royce to project manage its DREAM collaborative project, which aims to develop cost and fuel efficient aero engines.
Evans score at Highbury
Evans Concrete, the bespoke pre-cast concrete company based in Derby, has secured a contract for work at Highbury, the former ground of Arsenal Football Club. The £100,000 project, awarded by PAYE Stonework, includes the design and manufacture of pre-cast panels for the exterior of the stadium, which is being converted into an apartment complex.
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OBE for safety body's top man
The chief executive of Leicestershire-based Institution of Occupational Safety and Health (IOSH) has been awarded the OBE in the Queens Birthday Honours List. Rob Strange, chief executive of Wigston-based IOSH, received the OBE for services to health and safety.
Two more for Invest Leicestershire
Invest Leicestershire has welcomed two members to its Investor Developer team. Jo Pagett previously worked as a quality manager and tourism development manager for Leicester Shire Promotions. Colm Fox has wide experience of developing business accounts overseas in the UK, Europe, Middle East and Australia and has worked for service-sector businesses in the Midlands, London and Dublin.
Richards helped into chair
Lisa Richards, partner at accountants Smith Cooper, has been elected chair of Derbyshire ProHelp. Richards takes over the role from Paul McCormick, former managing director of GCA (UK). ProHelp is a Business in the Community initiative, which brings professional firms together to give their expertise free of charge to support local voluntary and community groups.
Mabers promotes four
East Midlands architects practice Maber has strengthened its management team by promoting four senior architectural members of staff. Ian Harris has been promoted to associate director and Paul East, Andrew Purvis and Gary Boydell have become associates.
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