Rolls-Royce has revealed that it is buying ODIM, a Norwegian technology group that engineers and produces automated handling solutions in the offshore oil and gas, naval and power generation markets. The Derby-based company is paying £154m for 67 per cent of ODIM’s shares. It bought the other 33 per cent in July 2009. John Paterson, president of Rolls-Royce Marine, said: “This is an attractive proposition. ODIM ASA is rich in technology with a unique subsea and deepwater capability that complements our own activities. Integrating ODIM ASA’s innovative technology and highly skilled people into our business will enable us to optimise our offering and provide our global customer base with a wider range of products and services in this important market segment.” A spokesperson for Rolls-Royce told Insider he could not comment on what affect the takeover would have on marine operations in Derby.

Leicester specialist paint and decorating supplier Stuart Decorating Supplies has been sold to a national decorators’ merchant for an undisclosed sum. Sussex-based decorating supplies business Brewers bought Stuart Decorating from DSW Holdings, in a sale facilitated by the Harvey Ingram corporate team. Stuart Decorating Supplies staff will stay with the business to work with the new owner. For Insider comment, click here.

The Office for National Statistics (ONS) this morning revised the gross domestic product (GDP) for the final quarter of 2009 up to 0.3 per cent, from the preliminary estimate of 0.1 per cent made last month. The upward revision was driven by December figures, which showed growth in both the services and the manufacturing and output utilities sectors. The revised figures leave GDP at an annualised decline of 3.3 per cent. The ONS will publish a third and final reading of the quarter on 30 March, when all of the data is available.

The Coventry and Warwickshire Chamber of Commerce has welcomed the news of Jaguar Land Rover’s £340m green technologies loan. Alan Durham, the Chamber’s policy director, said: “It is vital for both the company and the region. Jaguar Land Rover recognises that it needs to adapt to meet the demands of the future in terms of greener technology and fuel efficiencies, and this finance will help the company to do that. This news will, hopefully, help to provide a long and stable future for JLR in this region.” JLR’s parent company Tata Motors agreed the loan with The European Investment Bank.

Facilities management services provider GSH Group, based in Stoke-on-Trent, has reported a “strong” growth in revenue to £239m, up 19 per cent for the year to 31 July 2009. However, the group reported a trading loss of £13.29m after taxation, up from a loss of £7.03m reported a year earlier. The loss is due to “one-off adjustments” and is not considered indicative of future trading performance, according to the directors. The group, which delisted from AIM in August 2009, will not be paying any dividend for the year.

Birmingham’s Dunlop Aircraft Tyres is strengthening its position in the global aircraft-tyre marketplace with the acquisition of testing and manufacturing equipment from The Yokohama Rubber Company. Last year, Yokohama, which has a strong reputation in Japan for manufacturing radial and bias tyres, announced that it was withdrawing the Yokohama brand name from the aircraft tyre business. Under the terms of a new agreement, Dunlop Aircraft Tyres will acquire Yokohama’s radial and bias new tyre manufacturing and testing equipment, including an additional dynamometer that will enable the company to bring new products to market more quickly.

Northampton law firm Hewitsons has been appointed to a new legal panel drawn up by the government’s national housing and regeneration agency for England, the Homes and Communities Agency (HCA). The legal panel consists of 15 firms in total; Hewitsons has been selected in the central region pool, covering the east of England, East and West Midlands and Milton Keynes.

A Leicestershire company has developed an automated phone system that has enabled a GP surgery in Middlesex to win an award for improving patient access. Voice Connect in Groby has been working with Hampton Hill Medical Centre since 2008, when the practice installed the company’s Patient Partner automated appointment system. Now Hampton Hill has been named the Vision Practice of the Year in recognition of its innovative use of technology, including the installation of Patient Partner, a phone system which enables patients to call their surgery at any time, night or day, to make or cancel appointments. Missed appointments cost the NHS an estimated £600m each year.

Public relations consultancy Kinetic, based in Birmingham’s Jewellery Quarter, has been shortlisted in three categories at the Fresh PR Awards. It has been recognised for its internal communications and as a small PR team, and account manager Aimee Postle is on the shortlist for young PR professional. The event, which is run in association with Campaign and Media Week, aims to showcase the best talent in the regional media, creative, digital and public relations industries. Kinetic managing director Angela Podmore said: “We’re really proud of what we’ve accomplished for our clients over the past year, especially considering how harsh the trading conditions have been.”

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Developer Highcross has let 2,450 sq ft at its Livery Place office building in central Birmingham to accountancy firm Smith Cooper on a ten-year lease. Jeremy Cope, partner in charge of the Birmingham office at Smith Cooper, said: “The move marks an important development in our business and is testament to Smith Cooper’s ability to continue to grow, even in the current extremely challenging business environment.” Highcross asset manager Joe Curlett said: “Their office fit-out has put the finishing touches to what will be a fantastic working environment for the firm.” CB Richard Ellis and GBR Property Consultants acted for Highcross on the letting.

Construction company Carillion has achieved financial close on a public-private partnership (PPP) to develop Bristol’s Southmead Hospital. Carillion will invest £50m of equity into the 800-bed hospital, as well as delivering £430m of construction services and £170m of facilities management services over a 30-year contract period. This is one of more than 50 PPP projects that Carillion has financially closed in the UK and Canada. Southmead Hospital is due to open in early 2014.

The head of European real estate at Leamington Spa plumbing and building materials group Wolseley has left the company. Paul Dove joined Wolseley after 17 years at Littlewoods in 2006 and took on the European role in 2008. Property industry magazines are suggesting that his departure is a result of the recession slowing down the group’s potential property transactions. Wolseley has also been involved in a cost-cutting exercise. In January, it sold the Irish arm of its business to WIBHM, a private-investor-backed company, for £23.8m.

Guy McCracken, a former Marks & Spencer managing director and the man who played a leading role in the turnaround of The Co-operative’s food business, is to join Lincoln potato giant Branston as chairman. Branston announced that McCracken will take up the helm this month, following on from outgoing chairman Chris Howard. McCracken was chief executive of food retail for The Co-operative Group from 2005 to 2008 and has also held a seven-year chairmanship at Duchy Originals. As the UK’s leading supplier of potatoes, Branston’s turnover has grown from less than £5m in 1988 to more than £110m, and it is now Tesco’s biggest fresh-produce supplier.