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Top story
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Hill & Smith secures £210m finance deal
Solihull manufacturer Hill & Smith Holdings has agreed terms on a £210m credit facility with five banks. Details of the five-year finance package were revealed in the company's interim management statement to the Stock Exchange this morning. Hill & Smith said the refinancing deal would enable it to continue to execute its growth strategy, including geographical expansion and selective acquisitions.
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Deals
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Green Frog Power in £60m funding boost
Power station operator Green Frog Power (GFP) has secured a £60m project finance debt package from the Royal Bank of Scotland (RBS). The Birmingham-based company said the cash would fund the development of 14 new electricity plants in the UK.
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Tsunami investment help unveiled
The Manufacturing Advisory Service-West Midlands (MAS-WM) has announced it will plough £300,000 of funding into companies in the region which were affected by the tsunami in Japan.
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Practical investment from Barclays
Birmingham-based Practical Car and Van Rental is expanding its fleet after securing investment from Barclays Corporate. The company has used an asset credit facility to purchase a fleet of new Vauxhall, Peugeot and small commercial vehicles.
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Property
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West Mids trails in investment activity league
Commercial property activity in the West Midlands dropped to the lowest level in the UK in the first three months of 2011. That's according to new figures from Birmingham-based property firm Lambert Smith Hampton (LSH).
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£11m road scheme completed
An £11m scheme to improve the road system around Birmingham International Station, the airport and the NEC has been completed. The transport system has also been extended to the north of the area.
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Drivers Jonas Deloitte wins 650,000 sq ft retail scheme
Coventry City Council and Aviva Investors have appointed Drivers Jonas Deloitte as lead development consultant on a scheme which they say could "transform the centre of the city".
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Business
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Co-op jobs boost praised by union
Plans to create 120 jobs at the Co-op Group call centre in Burslem have been welcomed by a retail union. The news of the expansion has been praised by the Union of Shop, Distributive and Allied Workers (USDAW) after fears were raised over the possibility of job losses through the Co-op's merger with Thomas Cook.
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Bank of England cuts growth forecast
The Bank of England has cut its growth forecast for the UK. The Bank warned that government cuts and the squeeze on household incomes will continue to affect the economy while inflation is expected to rise to 5 per cent.
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