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Top story
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Admiral sets sail for France
Admiral Group plans to launch its first France-based car insurance business early in 2011. The Cardiff company launched an online comparison site in France this year but has previously shied away from offering car insurance, its core product, there. The move comes after Admiral racked up a 21 per cent rise in half-year profits to £127m as premiums and customer numbers rose.
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Deals
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Warwick sells £66m distribution arm
Warwick International is set to sell its speciality chemical distribution companies to IMCD, headquartered in Rotterdam. Warwick, based in Mostyn, Flintshire, chose to sell after concluding the companies would benefit from being part of a larger company dedicated to speciality chemical distribution.
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Saunders backs broadband pioneer
Peter Saunders, the entrepreneur and business angel, has invested in a Powys company which plans to provide broadband services across rural Wales. Saunders, who built up and later sold Halo Foods, put £20,000 into Exwavia, based near Welshpool.
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Companies
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Cash specialist Tellermate makes more money
Tellermate made a pre-tax profit of £2.02m for the year to 31 December 2009, up from the £1.34m profit in the previous year. The Newport-based manufacturer of cash management systems for the retail, food service and financial industries made its increased profit despite a drop in revenue from £8.62m to £7.89m.
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More enter Morgan awards
The number of entrants to this year’s Morgan Foundation Entrepreneur Awards is up on last year. With just over two weeks until the 10 September deadline, more than 270 entrepreneurs, social enterprises and charities have registered to apply for the awards which cover North Wales and neighbouring parts of England.
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TB Davies to create 30 jobs
Aerospace company TB Davies (UK) will create 30 jobs following a £1m investment. The company is taking an extra 30,000 sq ft of space on Waterton Industrial Estate in Bridgend and consolidating operations from five separate sites.
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Take advantage of Insider’s Membership package: Insider magazine, events, business guides, exclusive online content and Insider partner offers. Special introductory offer until 30 September 2010.
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Property and construction
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Regeneration boost for Bridgend
Bridgend has won £7.7m of European development money to regenerate its town centre. The cash boost will be used together with funding from Bridgend Council, which will deliver the scheme, and the Heritage Lottery Fund to create a £9m improvement package.
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Government and politics
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Swansea mulls leisure outsourcing
Management of indoor leisure facilities across Swansea could be outsourced to private companies, as the city’s council looks to prioritise its limited budget on front-line services. The council is being asked to back a recommendation that it carries out an in-depth review at how it runs its leisure offer.
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Conwy and Denbighshire unite
Conwy Council and Denbighshire Council have started a joint project in a bid to introduce efficiencies. The scheme, between Conwy’s regulatory service and Denbighshire’s planning and public protection department, is expected to take up to two years.
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FIT businesses to get help
A new package to help support the use of renewable energy by small businesses in Wales has been launched by the Welsh Assembly Government. Through the Microgeneration Certification Scheme (MCS), Welsh small businesses will now be able to apply for an interest free loan to cover the cost of gaining accreditation to install renewable energy equipment.
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