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Deals
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First loan to Norlec
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Addison hit where it hurts
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Is this the new game for private equity?
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Business
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Key research into town centres launched
The role of Greater Manchester's town centres in the regional economy is set to be evaluated in a study from the Commission for Economic Development, Employment and Skills with inward investment agency MIDAS. Drivers Jonas, Waterman Boreham and Regeneris have been appointed to undertake the research, which will look at meeting Greater Manchester's employment growth needs over the next ten to 15 years by identifying the priority town centres for economic and employment growth and recommending strategies. John Steward, head of planning and environment at the Commission, said: "There has been much emphasis on the role of Manchester city centre, but actually we believe that the ring of key town centres around the city will have a significant role to play supporting our growth aspirations."
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Pnu Power wins first European contract
Chester-based energy technology developer Energetix has announced that its subsidiary Pnu Power has won its first contract in Europe. The company will supply one of its 4 kW compressed air energy systems to Telecom Italia for use as a back-up power source at its regional telephone exchange at Cafasse, near Turin. Although the contract is only for one system, it could be extended should trials of the product be successful. The deal follows a major contract win in December from Californian company P&E Automation.
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Losses widen at Surface Transforms
Losses have widened at Cheshire-based Surface Transforms, a manufacturer of carbon-fibre reinforced ceramic materials. For the six months to 30 November 2008 the businesses made a pre-tax loss of £547,000, against a turnover of £398,000, compared with a loss of £370,000 in the previous year. Chairman Kevin D'Silva said that revenues in the second half of the year are expected to be lower than internal budgets so full-year revenues will be below market expectations. On a brighter note he added that the lower unit cost of manufacture, a reduced annual overhead base of £200,000 and improved business in aerospace should deliver a marked reduction in operating losses and improved cash flows in the 2009/10 financial year.
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New board members at ANS
Hardware and software provider ANS Group has appointed two new board members. Richard Gascoigne and David Hutton have almost 40 years' experience in the technology and IT industry between them and will be responsible for ensuring the Manchester-based group continues with its impressive growth rate. ANS founder Scott Fletcher said: "Their appointment comes at a time when the general economy is suffering but at ANS we are still investing and growing."
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Stobart’s got some bottle
Cumbrian transport and logistics group Stobart Group has signed a three-year contract with Danone Waters UK and Ireland to provide warehousing facilities at its major distribution centre at Crick in Daventry. The contract, which is estimated to be worth £12m, will incorporate the storage of 30,000 pallets or 27 million litres of bottled water a year and includes Danone's Volvic, Evian and Badoit brands.
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£3.8m community woodland investment in Bury
More than 180 acres of brownfield land in Bury are set to be transformed into community woodland following a £3.8m investment from the Northwest Regional Development Agency and the Forestry Commission's Newlands programme. The site, which is in the Prestwich area of the borough and known locally as Waterdale and Drinkwater Park, will include 13.7 km of new foot and cycle paths as well as extensive habitat management and development. The feasibility of developing a technical mountain bike course is also being explored.
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Outlet village gears up for growth
Shopping outlet village Oswaldtwistle Mills in Accrington is predicting another year of growth despite the retail downturn. The centre, which attracted more than 1.1 million visitors last year, said it is investing in new attractions, such as a Continental Market Festival, and has attracted new retailers to the centre. It has also hired business development manager David Roberts to help spearhead the growth.
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MDB gets sporty
Bolton-based software developer MDB Consulting has secured a new contract from event management consultancy iSPORT Group to redevelop the company's website. It has also been tasked with developing mini-sites for the Poynton-based business, including ones for the British Open Squash and the National Squash Championships. The websites will allow subscribers to access updated news articles using a content management system, RSS feeds and regular e-shots.
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Law college sees applications soar
The College of Law has seen the number of applications from prospective lawyers in the North West jump 30 per cent since it announced that it is to open a centre in Manchester from September. Regional director Tricia Chatterton said the increase highlights the city’s credentials as the country’s largest legal community outside London and added that it should help to retain legal talent in the region. The college is to cost £5.5m and will be based on New York Street.
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E of the End
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Property
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Wigan names its Leigh team
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DBK launches insolvency service
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Don't look back in Bangor
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