|
Top story
|
Grant rules fair to Welsh firms, insists Assembly Government
The Welsh Assembly Government has insisted it is not discriminating against Welsh companies by allowing “mobile investors” not to repay grants. Most companies will now have to repay Assembly Government finance under the Economic Renewal Programme launched by deputy first minister Ieuan Wyn Jones in July. But it has emerged that investors in mobile projects, those which could go outside Wales, will not always have to repay finance.
|
|
Deals
|
EKF buys diabetes test company
EKF Diagnostics Holdings, the medical test company run by South Wales entrepreneur Julian Baines, is to buy Quotient Diagnostics, a company which has developed a diabetes treatment monitoring test. EKF will pay an initial £3.4m for Quotient, plus repayment of loan notes worth £273,000, and a deferred consideration of up to £2m based on sales performance.
|
Santander backs Cuddy's crusher
Cuddy Group, the construction and demolition company, has set up a £600,000 asset finance facility with Santander to buy crushing and screening machinery. The deal will allow Cuddy Group, run by Ospreys boss Mike Cuddy, to fulfil a contract with Cemex UK, the building materials company.
|
|
Companies
|
Push home Ryder advantage, says golf leader
Wales needs to plan more high-profile golf tournaments to build on its achievement in landing the Ryder Cup, the sport’s leader in Wales has said. Richard Dickson, chief executive of the Golf Union of Wales, told Insider: “It’s up to us to push home the advantage.”
|
Yes Loans stays in profit but turnover drops
Turnover at Cwmbran-based lender Yes Loans almost halved in the year to 31 October 2009, down to £15.6m from £26.4m in 2008. Despite this drop, the company remained profitable, although pre-tax profit fell to £6.3m from £9.4m.
|
Do you need help sourcing new clients?
Insider’s Wales Top 300 Companies 2010 database is our accurate and comprehensive business marketing list. Special offer until 24 December.
|
Maskreys stores and Warburtons bakery to close
Furniture retailer Maskreys is to close its doors in November after 112 years of trading in a move which will lead to the phased redundancy of its 87 staff. And Warburtons, the baker, is likely to close its Rogerstone bakery near Newport with the loss of 114 jobs.
|
|
Property and construction
|
Castleoak sees upturn after work declines
Castleoak Holdings, the care home developer, expects construction activity to pick up this year after a drop in sales and profits in the 12 months to March 2010. The Cardiff group made a pre-tax profit of £120,000, down from £799,000 the year before, on revenue which dropped by a third to £44.8m from £68.3m.
|
Europe backs Felindre regeneration
The Assembly Government has arranged a £11.7m European-backed investment to turn the former Felindre steelworks near Swansea into a business park. The funding, including £9.5m from the Convergence European Regional Development Fund and the Targeted Match Fund, will be used for a new internal road, utilities and broadband telephone connections.
|
|
Events
|
Business-academic links up for debate
The complex relationship between business and academia will come under scrutiny at a panel debate in Cardiff on 13 October. Audience members will get a chance to quiz David Rosser, director of CBI Wales, Professor Kevin Morgan of the School of City & Regional Planning at Cardiff University, Grahame Guilford of the South East Wales Economic Forum and Paul Orders, corporate director, built environment at Cardiff Council.
|
