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IN BRIEF
00:00 30 Jun 1994
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Eurotunnel strapped for cash
The poor take-up of Eurotunnel's rights issue means that contractor TML will now receive nearer œ70 million than œ85 million as part of the claim settlement that was tied into the success of the sale of the extra shares.
Higgs and Hill rights issue hit
Higgs & Hill's œ22 million rights issue has been hit by the turbulence in the Stock Market. Only 750 of the group's 3,000 shareholders took up their share options - less than 32% of the shares.
Bond appeal
A controversial Court of Appeal ruling which could convert normal performance guarantees into tough on-demand bonds may yet be overturned. The House of Lords appeal committee has given leave for an appeal to be heard in the case - Trafalgar House v General Surety - to the delight of contractors.
Berkeley profits up
Star housebuilder Berkeley Group has boosted pretax profits of core operations by 81% to a record œ28.6 million. Turnover was up 25% to œ218 million in the year to 30 April, and unit sales increased by 14% to 1,404 units.
CONDAM delayed
A spokesman for the Department of Employment said this week that because of Parliamentary scheduling it was now 'a matter of doubt' whether the CONDAM site safety regulations would come into force on 1 October as planned.
Ucatt ballot date set
Ucatt is expected to hold a national ballot of its membership in September on the proposed transfer of engagements to the TGWU. The two unions are holding a further meeting next week to discuss details of the transfer.
Lift costs to fall 20%
A cost reduction of 20% and a 35% shortening of lead-in time can be anticipated as a result of new technical guidance documents produced by the National Association of Liftmakers, according to Jim Kay of Gardiner and Theobald.
Site managers win NVQs
The first eight candidates to win a Level Four NVQ in building site management were presented with their certificates on Monday by Housing Minister Sir George Young at a reception at the House of Commons. Jointly sponsored by the CIoB and CITB, this is the first Level 4 construction qualification.
Terex takes over Imaco-BH
Terex Equipment has assumed responsibility for management of Imaco-Blackwood Hodge, the distributor of Terex products in the UK. Terex says it intends to maintain regional facilities to ensure continuity of service and parts support to the UK customers.
The poor take-up of Eurotunnel's rights issue means that contractor TML will now receive nearer œ70 million than œ85 million as part of the claim settlement that was tied into the success of the sale of the extra shares.
Higgs and Hill rights issue hit
Higgs & Hill's œ22 million rights issue has been hit by the turbulence in the Stock Market. Only 750 of the group's 3,000 shareholders took up their share options - less than 32% of the shares.
Bond appeal
A controversial Court of Appeal ruling which could convert normal performance guarantees into tough on-demand bonds may yet be overturned. The House of Lords appeal committee has given leave for an appeal to be heard in the case - Trafalgar House v General Surety - to the delight of contractors.
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Berkeley profits up
Star housebuilder Berkeley Group has boosted pretax profits of core operations by 81% to a record œ28.6 million. Turnover was up 25% to œ218 million in the year to 30 April, and unit sales increased by 14% to 1,404 units.
CONDAM delayed
A spokesman for the Department of Employment said this week that because of Parliamentary scheduling it was now 'a matter of doubt' whether the CONDAM site safety regulations would come into force on 1 October as planned.
Ucatt ballot date set
Ucatt is expected to hold a national ballot of its membership in September on the proposed transfer of engagements to the TGWU. The two unions are holding a further meeting next week to discuss details of the transfer.
Lift costs to fall 20%
A cost reduction of 20% and a 35% shortening of lead-in time can be anticipated as a result of new technical guidance documents produced by the National Association of Liftmakers, according to Jim Kay of Gardiner and Theobald.
Site managers win NVQs
The first eight candidates to win a Level Four NVQ in building site management were presented with their certificates on Monday by Housing Minister Sir George Young at a reception at the House of Commons. Jointly sponsored by the CIoB and CITB, this is the first Level 4 construction qualification.
Terex takes over Imaco-BH
Terex Equipment has assumed responsibility for management of Imaco-Blackwood Hodge, the distributor of Terex products in the UK. Terex says it intends to maintain regional facilities to ensure continuity of service and parts support to the UK customers.
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