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Bromley to appeal to HCA
Creative Sheffield has commissioned a £50,000 study to develop a business model to persuade the Homes and Communities Agency (HCA) to help it develop on industrial sites on the Lower Don Valley. Chief executive Ian Bromley told guests at an Insider round table discussion the idea is for manufacturers to relocate from the fringes of the city centre, allowing them to prepare the central sites for housing. Right now housing may not work all that well, but it is something the HCA will be interested in because it is really about homes and communities.
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Car parts company bought
Pinco 1555, the £57.5m turnover owner of the Sheffield-based car parts company LSUK, has been bought by Wembley-based Euro Car Parts for an undisclosed sum. Euro Car Parts will take over all 53 LSUK branches and subsidiaries M I Diesel Products, Protech Automotive (UK) and Yeovil Rewind. 
New phase of funding
University of Sheffield spin-out company Phase Focus has secured £250,000 to continue its development of lensless optical microscopy. Fusion IP has invested £125,000, the Riding Early Growth Investment Company Viking Fund has invested £100,000 and the White Rose Technology Seedcorn Fund has invested a further £25,000. Phase Focus has already developed a lensless optical microscope prototype instrument that can produce better images at a lower cost. White Rose Technology Seedcorn Funds Dr Neil Loxley, former chief executive of Bede, has become a non-executive director.
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Outokumpu to close thin strip business
Outokumpu is to close its thin strip business at Meadowhall in Sheffield, resulting in 230 jobs. It is expected the plant will close in the first quarter of 2009 and production will move to its Kloster facility in Sweden. Bo Annvik, Outokumpus executive vice president of Specialty Stainless, said the market for stainless precision strip was over-supplied and the Sheffield business had been making a loss for several years. Despite the commitment and excellent work in the Sheffield thin strip business, we do not anticipate material improvement in the competitive precision strip market, he said. The company will retain its melt shop and long products businesses in Sheffield.
Pulse turns the tide of UK energy
Sheffield energy company Pulse Tidal has launched its test rig to generate renewable energy to power 70 homes from the tidal stream in the Humber. The rig will feed power into the national grid through Millennium Inorganic Chemicals on the south bank of the Humber, which will take a direct feed from tidal power. The rig has been trialled successfully at Hull University and can operate in shallow waters where the tides tend to be strongest.
Cafeology for commuters
Sheffield-based Fairtrade drinks company Cafeology has won a contract with First TransPennine Express to supply its trains with Cafeology-branded Colombian freeze-dried coffee, decaffeinated coffee and ripple wrapper cups.
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Halliwells undecided on where jobs are to go
Suzanne Liversidge, managing partner of Halliwells in Sheffield, has said it is yet unknown whether 40 redundancies to be made from the firms real estate team, based across Manchester, Liverpool, Sheffield and London, will affect the Sheffield office. Liversidge said: It isn't known as yet what the effect will be on the Sheffield office, however, the majority of Halliwells' real estate team is based in the North West. Everyone knows market conditions have been tough for some months and are likely to continue for some time. Therefore the consultation is sadly part of difficult steps that many businesses are having to take.
Reduced rents for market traders
Sheffield City Council is proposing to offer traders in the citys Castle Market a 40 per cent rent reduction to help them prepare for their transition to the Moor Market. The proposals will be discussed at the meeting of Sheffield City Councils cabinet on 8 October. The discount would be back dated to April 2008.
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Legard joins Interim Partners
Tom Legard, corporate finance executive at Sheffield corporate finance firm Hardy Transactions, has left to join Harrogate interim managers firm Interim Partners. Legard spent ten years working in financial services in London before moving back to Yorkshire in 2004. He was also senior vice president of Thomson Financial.
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