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NEWSBRIEF
00:00 01 Aug 2001
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B&CE benefits announces 4% savings bonus
The B&CE benefits company has announced a 4% AVC (additional voluntary contributions) bonus for its savings scheme for 2000 to 2001 together with an interim bonus rate of 4% until the next review in 2002. Chief executive Brian Griffiths said: "The market as a whole has suffered from a lot of variations throughout this year. Fund returns and the FTSE have all had negative returns for the same period. So, although our bonus is a decrease on last year, it becomes a very good return when you take other influences into account."
EU to ban export of asbestos materials
The EU Council of Ministers has decided to list construction materials containing asbestos as an officially designated hazardous substance, which will be subject to widespread controls. Notably, ministers agreed that the export of these materials from the EU should be banned from next January. Ministers also agreed to label these materials as hazardous waste when they are being disposed of, meaning that they will have to be discarded of under a regime of tight environmental regulations.
BLUEcircle chief exec moves to invensys
Rick Haythornthwaite, former chief executive of cement manufacturer Blue Circle, is to take over as chief executive of Invensys. Haythornthwaite's management capabilities were highly praised during the hostile take-over bid for Blue Circle by Lafarge. Following his appointment, Haythornthwaite immediately bought 100,000 shares at 84p each in Invensys, a struggling engineering group that is making 2,500 job cuts after issuing its fourth profit warning in less than a year.
balfour beatty makes £25m
Balfour Beatty has made £25m from the sale of its 30% interest in Dubai Cable Company, its last significant cable manufacturing interest following the sale of its worldwide cablemaking operations during 1999 and 2000. Formerly a conglomerate, the business then traded as BICC.
two-year pay deal for demolition workers
The TGWU and the Demolition Industry Conciliation Board have agreed a groundbreaking two-year pay deal for workers in the demolition industry. The minimum weekly pay increases by £13 a week, pushing those workers on the lowest grade through the £200-a-week barrier on basic pay. As well as a 7% increase in each of the next two years, the new deal also increases holiday pay entitlements, allowances and additional payments and introduces a stakeholder pension scheme.
rmc sells ytong for £170m
RMC, the world's largest ready-mixed concrete producer, is selling its Ytong aerated concrete products business for £170m. The buyer is German company Franz Haniel & Cie. RMC is expected to make a £220m profit this year.
on the move
Louise Galliers has succeeded her father Maurice as chairman of the Shropshire building firm Frank Galliers. Ginny Clarke has been appointed as the government's first woman chief highway engineer. Her full title is director of safety standards and research. Geoffrey Osborne has announced two board changes: John Oliver, group board director and managing director of the building division, has taken on the full-time role of group construction director; and Steve Carden, currently deputy managing director of the building division, replaces Oliver as managing director. Andy Benwell has joined south west-based construction firm Stansell as area commercial director for the Wessex region.
The B&CE benefits company has announced a 4% AVC (additional voluntary contributions) bonus for its savings scheme for 2000 to 2001 together with an interim bonus rate of 4% until the next review in 2002. Chief executive Brian Griffiths said: "The market as a whole has suffered from a lot of variations throughout this year. Fund returns and the FTSE have all had negative returns for the same period. So, although our bonus is a decrease on last year, it becomes a very good return when you take other influences into account."
EU to ban export of asbestos materials
The EU Council of Ministers has decided to list construction materials containing asbestos as an officially designated hazardous substance, which will be subject to widespread controls. Notably, ministers agreed that the export of these materials from the EU should be banned from next January. Ministers also agreed to label these materials as hazardous waste when they are being disposed of, meaning that they will have to be discarded of under a regime of tight environmental regulations.
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BLUEcircle chief exec moves to invensys
Rick Haythornthwaite, former chief executive of cement manufacturer Blue Circle, is to take over as chief executive of Invensys. Haythornthwaite's management capabilities were highly praised during the hostile take-over bid for Blue Circle by Lafarge. Following his appointment, Haythornthwaite immediately bought 100,000 shares at 84p each in Invensys, a struggling engineering group that is making 2,500 job cuts after issuing its fourth profit warning in less than a year.
balfour beatty makes £25m
Balfour Beatty has made £25m from the sale of its 30% interest in Dubai Cable Company, its last significant cable manufacturing interest following the sale of its worldwide cablemaking operations during 1999 and 2000. Formerly a conglomerate, the business then traded as BICC.
two-year pay deal for demolition workers
The TGWU and the Demolition Industry Conciliation Board have agreed a groundbreaking two-year pay deal for workers in the demolition industry. The minimum weekly pay increases by £13 a week, pushing those workers on the lowest grade through the £200-a-week barrier on basic pay. As well as a 7% increase in each of the next two years, the new deal also increases holiday pay entitlements, allowances and additional payments and introduces a stakeholder pension scheme.
rmc sells ytong for £170m
RMC, the world's largest ready-mixed concrete producer, is selling its Ytong aerated concrete products business for £170m. The buyer is German company Franz Haniel & Cie. RMC is expected to make a £220m profit this year.
on the move
Louise Galliers has succeeded her father Maurice as chairman of the Shropshire building firm Frank Galliers. Ginny Clarke has been appointed as the government's first woman chief highway engineer. Her full title is director of safety standards and research. Geoffrey Osborne has announced two board changes: John Oliver, group board director and managing director of the building division, has taken on the full-time role of group construction director; and Steve Carden, currently deputy managing director of the building division, replaces Oliver as managing director. Andy Benwell has joined south west-based construction firm Stansell as area commercial director for the Wessex region.
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