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Top story
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EnviroGene in administration as funding dries up
EnviroGene, a South Wales water biology company which was once seen as leader in its sector, has gone into administration. The company, based at Tredomen near Caerphilly, went out of business after an attempt to raise fresh funds failed. EnviroGene is believed to have raised over £2m from investors including Finance Wales and RAB Capital over several years.
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Deals
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Keltruck buys Silurian
Keltruck, a logistics company based in the Midlands, has acquired Silurian Scania, a lorry dealer in South Wales. Silurian Scania has four depots in South Wales and its head office in Cardiff.
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Admiral completes sale of German arm
Admiral Group, the Cardiff-based insurer, this morning announced that it had sold AdmiralDirekt, its car insurance operation in Germany, to Itzehoer Versicherung, an insurance company in Northern Germany.
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Investment powers Mountain Fuel growth
Mountain Fuel, an energy food company in Brynmawr, Gwent, has raised £100,000 from UK Steel Enterprise and other investors to help it push into the sports and health and fitness markets. Its growth plans will be led by a new managing director, former Coca Cola executive Gerry Stacey.
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SmartKem wins development grant
SmartKem, a Denbighshire company which develops materials for electronics, has won a £335,000 grant from the Welsh Assembly Government. The cash will be used to work on its flexible printed electronic systems.
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NI businesses offered funding guidance
Insider's Northern Ireland Business of Finance summit, which will explore new sources of finance available to businesses to the country, has confirmed another panelist. Ronnie Wilson, from Monaghan Mushrooms, will join Colin Reid, of Consilium, and David Surplus, of B9 Energy Group, in outlining how they attracted finance to fund their growth.
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Companies
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Costs slow First Cymru Buses
First Cymru Buses, the bus and coach operator headquartered in Swansea, has reported a drop in turnover and operating profit for the year to 27 March 2010. In a report filed at Companies House the business said cost increases continued to place pressure on its margins.
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Property and construction
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Orchard buys Bangor centre for £14m
Property investor Orchard Street Investment Management has bought the St David’s Retail Park in Bangor, Gwynedd, from UBS Global Asset Management for £14m.
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Opco builds Cardiff City pod
Opco, the construction company, has started work on a 9,600 sq ft office and retail block beside Cardiff City Stadium for Capital Retail Park Partnership.
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People
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New boss at Crown Hotels and Restaurants
Crown Hotels and Restaurants, the owner of the Michelin-starred Crown at Whitebrook in Monmouthshire and the Crown at Celtic Manor Resort, has appointed Shaun Corrigan as its new general manager.
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Community
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Talking Point: Looking forward to growth
Exclusive: Business secretary Vince Cable tells Insider of how 2010 has been a "turbulent year" for the world of business in the UK and how creating growth through the private sector is the government's "top priority" in 2011.
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Advice
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