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Top story
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Faria quits Surface Transforms as sales rise
Surface Transforms, the manufacturer of carbon fibre reinforced ceramic composite materials headquartered at Ellesmere Port, has increased turnover for the six months to 30 November by 93.4 per cent to £398,409 over the same period last year, in line with management expectations. Sales of automotive brake discs to the high-performance and race car markets represent the majority of the turnover generated in the period. The £161,000 forward order book remains strong across all business segments and full-year revenues are expected to be up. Meanwhile, Julio Faria, who co-founded the AIM-quoted company with David Clark in 1992, is resigning from the board to pursue other interest. He remains as a shareholder.
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Deals
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In Focus - AIM
It’s not been the best year to attempt floating a company on AIM and in this week’s In Focus online column, Insider editor Michael Taylor examines how AIM has changed over the last two years. With a little help from a man with two cows. “Even in a buoyant market there was always the feeling that AIM had something of the Wild West about it,” he says. “Lots of risky shell companies that never came to anything.” To find out what more he has to say about the future of AIM, what the advisers are doing now and how a man with two cows tackles AIM click here.
NWDA launches £10m business support fund
The Northwest Regional Development Agency (NWDA) has launched a Transition Loan Fund of at least £10m, aimed at providing the region’s small and medium-sized businesses with immediate access to finance. The initiative, announced at the second meeting of the Joint Economic Commission for the North West this morning, is available to companies with a viable business plan and an ability to service the borrowing required, but which have been unable to obtain such funding from conventional sources. Bryan Gray, chairman of the NWDA and deputy chairman of the commission, said the funding will help companies “survive and grow” and confirmed it is separate to the £140m Venture Capital Loan Fund, which will be available from April 2009. Under the scheme, businesses will be able to apply for loans between £3,000 and £50,000.
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Business
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Apprenticeships at new Cammell Laird
Merseyside shipyard Cammell Laird has announced that it will be taking on new apprentices. The company, formerly Northwestern Shiprepairers and Shipbuilders but renamed in November after the Birkenhead shipyard that closed its gates in 2001, will be recruiting 20 youngsters aged between 17 and 20 from the Merseyside area to help it fill its commercial obligations. The company is looking to increase the number of employees at the shipyard and has managed to pre-qualify for the construction of large sections of the UK’s future aircraft carrier project.
Chambers and Bibby honoured by CBI
Stuart Chambers, the chief executive of Pilkington owner Nippon Sheet Glass, was hailed as business leader of the year at the CBI North West’s annual awards lunch on Friday. Chambers, who still lives in the North West and chairs the North West Business Leadership Team, said the St Helens plant was in good shape to weather the challenges to the business. “We’ve managed to upgrade to make glass for the solar energy industry,” he said. The board of the year award went to Liverpool-based Bibby.
Small businesses struggling to get credit
Around a third of small businesses are still struggling to get affordable credit from the banks despite commitments to lend fairly, according to figures released today by the Federation of Small Businesses. The organisation’s latest member poll shows that 30 per cent of small businesses have seen an increase in the cost of new or existing credit in the last two months. Over 60 per cent reported that trade had decreased in the last two months and 40 per cent are being paid later for services and supplies. This has led to more than a third considering reducing employee numbers, 36 per cent considering cutting staff working hours, 41 per cent contemplating curbing future hiring and 39 per cent even thinking about closing down.
North West economy worsens
The economic climate in the North West has worsened in November according to the latest survey from The Royal Bank of Scotland. The Business Survey Data shows output, new orders and outstanding work all contracting and the rate of job losses increasing. The seasonally adjusted business activity index fell from 46.5 to 37.8 in November and 42 per cent of firms reported lower activity. Employment levels fell for the seventh successive month to their lowest levels since 2002 as firms responded to weaker demand by cutting jobs.
Shop ‘til the company drops
Employees shopping online during working hours could be costing businesses billions of pounds over the Christmas period. A survey by Liverpool-headquartered The PC Support Group has found that 58 per cent of workers admit to spending more than three hours a day surfing the internet for presents. Money worries and the credit crunch were the main reason for the trend, with workers finding that price comparison sites were a good way to save money. Phil Bird, co-founder and director of the group, said: “While nobody wants to play Scrooge, it is important that employees remember that spending hours a week shopping online can cost their businesses huge sums of money.”
JJB secures training funding
Troubled Wigan-based retailer JJB Sports has secured £1m of government funding to provide a bespoke customer service training package for more than 600 of its store staff across the country. The training programme will be a mix of workshops, presentations and assessments and all staff that complete the programme will receive an NVQ Level Two. Phil Swaine, associate director of retail operations, said: “Investing in this is a big focus for us. We want staff to have a future with JJB and this latest initiative demonstrates our commitment to that goal.”
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Property
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Approval for Baxter park site
A new manufacturing and research and development facility has been given the go ahead at Liverpool Innovation Park on Edge Lane. The purpose-built facility for Baxter Healthcare, which supplies medical products and services to UK hospitals, will add 38,000 sq ft to the company’s existing facilities at a cost of £22m. The expansion is a result of increased demand for products made at the site as it breaks into new market areas. The new facility is planned to be completed next summer and production will start in September 2010.
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Events
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Dates for your diary this week
Chemicals Northwest is holding its Christmas Chemical Elements event at Aintree Racecourse on Thursday afternoon, to celebrate all the chemical companies in the region that have won awards at various industry events this year. And all day on Friday Places Matter is holding a free Building in Context workshop at the University of Cumbria in Ambleside to inspire confidence in developing successful designs for new development in historic areas.
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Contact Us
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Telephone: +44 (0)161 907 9711
Email:
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