Editor: John Arnold. E-mail jarnold@creditman.co.uk
Pat Williams. E-mail pwilliams@creditman.co.uk
Site: Business Credit Management UK
URL: http://www.creditman.co.uk
Issue: Vol 5 Issue 22
Dated: 3 June 2001
Welcome to the Business Credit News UK.
In this weeks edition you will find the following topics.
UKPROPERTY PRICE REPORT SHOWS 7.61% INCREASE IN PRICES
Average house price in England and Wales now £110,570
The Land Registry on the 30 May published its latest quarterly residential property price report, covering the period January - March 2001.
The report compares average prices and volume of sales with those for the same period in 2000. It also gives a breakdown of the average sale prices of old and new properties, by property type.
The following information is contained in the report:
England and Wales
Greater London
The Land Registry started collecting property price data in the first quarter of 1995. It holds no data prior to that date.
The Land Registry's website, www.landreg.gov.uk, contains a full copy of this new report and all previous reports. It also offers an online service, providing residential property prices and volumes of sales, broken down by property type, for the whole of England and Wales. Property price data are also available via our WAP service.
This Land Registry report is intended to complement information available from other sources. If you make any comparison with other data you should consider the differences in volume, timeliness and coverage of contributing transactions.
The Land Registry's Property Information Centre also provides reports that show aggregated data for any local authority district in England and Wales, postcode area (e.g. GL), postcode district (e.g. GL1), or postcode sector (e.g. GL1 2). There is a fee for this service.
HM Land Registry is a government executive agency and trading fund responsible to the Lord Chancellor which keeps and maintains the Land Register for England and Wales. Its main purpose is to register title to land and to record dealings once the land is registered. Established in 1862, it is required by statute to be self-financing and makes no call on public funds.
CHAMBERS REACT TO LABOUR BUSINESS MANIFESTO
Reacting to the publication last Tuesday of the Labour Party's Business Manifesto, Anthony Goldstone, President of the British Chambers of Commerce said:
"The priority for business is that the next government delivers - on skills, transport, de-regulation and on continued economic stability. British business will share many of the ambitions outlined in this and other Party Manifestos, but the real test for business support rests on the parties' ability to deliver in government.
"The British Chambers of Commerce, among others, have set the business agenda for this election, and this Manifesto demonstrates a growth in Labour's understanding of business pressures and priorities.
"Business will in particular welcome proposals to improve further the skills base, moves to allow business-led Regional Development Agencies greater flexibility and commitments to encouraging enterprise and improving business support.
"However, while is seems Labour are taking business concerns on regulation more seriously, we are not convinced that proposals for review of 'major' bureaucratic burdens go far enough to address the cumulative impact on business."
Full details of the BCC’s manifesto “Empowering Business” are available at www.britishchambers.org.uk/generalelection/
CBI REACTION TO ANNOUNCEMENT OF TASK FORCE ON FLEXIBLE WORKING
The Confederation of British Industry reacted positively to the appointment of a task force to consider the implementation of flexible working hours for parents returning to work.
It also welcomed the recognition that this must be done in a way that does not harm the competitive position of business.
Stephen Byers, Secretary of State for Trade and Industry announced a right for parents to request to work flexible hours when their child is young and the appointment of a taskforce to advise on the detailed implementation.
NEW POWERS TO PROTECT CONSUMERS
From 1 June the OFT and other enforcement bodies will have new powers to stop rogue traders in their tracks.
The OFT and other consumer protection bodies will be able to apply to the courts for an immediate Stop Now Order against traders who breach a wide range of consumer protection laws. Refusal to comply with a Stop Now Order may result in fines or imprisonment for contempt of court.
John Vickers, Director General of Fair Trading said:
"We welcome the new powers which will enable behaviour that damages consumers to be stopped more quickly. We intend to use the powers both proportionately and robustly. To this end, we are writing today to businesses that we believe are harming consumers by infringing consumer protection laws in a range of markets. These suspected breaches range from the supply of defective goods and materials to breaches of rules on credit advertising. These new powers will help the OFT in its task of making markets work well for consumers."
General guidance on our enforcement approach will be available on www.oft.gov.uk
The Stop Now Orders introduce a sharper and more efficient enforcement mechanism for consumer protection bodies such as local trading standards authorities and the sectoral regulators. They can be used against any trader - in the UK or any Member State of the European Union or EFTA - who breaches or threatens to breach existing regulations [1] where this harms consumers.
1. The Orders cover laws made under EC Directives on: doorstep selling, timeshare, unfair contract terms, consumer credit, distance selling, package travel, holidays and tours, misleading advertising, sale of goods, TV broadcasting activities, and advertising of medicinal products for human use.
The enforcement bodies, in addition to OFT, that are empowered to act (known as public qualified entities) are: The Information Commissioner, The Civil Aviation Authority, The Gas and Electricity Markets Authority, The Director General of Electricity Supply for Northern Ireland, The Director General of Gas for Northern Ireland, The Director General of Telecommunications, The Director General of Water Services, The Rail Regulator, Every weights and measures authority in Great Britain, and the Department of Enterprise, Trade and Investment in Northern Ireland.
Except in situations requiring urgent action, all bodies qualified to take action under the regulations must notify the OFT and the business concerned of their intention to take action at least 14 days before bringing proceedings. This ensures that businesses will be given a reasonable opportunity to resolve problems before proceedings are started.
http://www.oft.gov.uk
RETAILERS CONTINUE TO EXPERIENCE DIFFICULTIES IN THE FIRST QUARTER OF 2001
National figures show that despite increasing levels of affluence and record levels of consumer credit, retailers are finding trading conditions increasingly difficult. 126 companies reported difficulties in the first quarter of this year (16 per cent of the total), compared with 92 during the same period last year - an increase of 37 per cent.
The figures are compiled for business advisory firm KPMG by Mandis Information Services Ltd in Nottingham and report the numbers of businesses, whether quoted or unquoted, making negative announcements of any kind on subjects such as profit warnings, redundancies, significant restructuring etc.
Jane Moriarty, Corporate Recovery partner at KPMG comments:
"High sales volumes are disguising an increasingly difficult market place. Retailers are facing an environment of falling prices, over capacity, and static demand."
Ms Moriarty attributes the difficulties faced by companies to a number of factors:
The trend in consumer spending is towards holidays and eating out; people are bored with the lack of differentiation and individuality being offered by stores and retailers are having to spend more on promotions to retain their customers.
Significant pressure on prices within the UK retailing sector as a result of tough competition.
The entry of large foreign retailers with superior buying power as well as increasing price transparency in Europe with the introduction of the Euro.
Consumers demanding more: despite the rise in loyalty cards, there is a general fall in shopper loyalty as people look around for the best buys. Furthermore, consumers are demanding increased value for money - being cheap is no longer an excuse for poor quality.
The significant increase in legislation and proposed regulations affecting retailers on competition, employment and promotions.
Restrictions on out of town shopping centre developments are leading to nationwide upward rent reviews.
Uncertainty in the US economy is restricting investments by US parent companies.
Jane Moriarty continues:
"With margins under pressure, retailers are having to cut costs aggressively and boost sales in order to maintain bottom line profits.
"There is a push to consolidate. We are helping our clients to spot merger opportunities so that they can benefit from the economies of scale needed to maintain margins while still achieving sales growth."
HIGH WYCOMBE—May 21, 2001—Dun & Bradstreet (NYSE:DNB) today announced Web-based access to Dun & Bradstreet's world-class global business database via the D&B Global Access Toolkit. The D&B Global Access Toolkit significantly expands D&B's online global data delivery capabilities, an important component of the company's strategy to derive increased revenue from the Web.
The D&B Global Access Toolkit provides the ability to easily integrate standardised, global data into existing applications and decision support systems while significantly reducing customers' development costs and time. Essentially a Web-based pipe to the D&B global database using XML standards, the Toolkit integrates D&B data with existing customer information, establishing D&B global data as core components of global or enterprise-wide decision making processes.
"The Toolkit will play a vital role in transitioning our business to the Web and increasing penetration into global accounts, significant elements of our Blueprint for Growth Strategy," said Steve Alesio, Senior Vice President of Dun & Bradstreet. "We have already seen great interest in the advantages of integrating real-time access to the D&B global information database. The fact that our information is global, standardised and available worldwide via Web-based technology, gives D&B a unique and powerful competitive advantage in serving global business and B2B e-commerce needs."
Diverse Customer Base Quickly Recognize Benefits of Toolkit
Already adopted by a number of Business Week 1000 companies, the D&B Global Access Toolkit is easily customised for each customer based on decision support requirements, legacy infrastructure and technical environments. Examples of how the Toolkit can be used to establish global business practices include global risk management, vendor management and database marketing, among others.
"We were looking to provide real-time credit decisions to our agents in the field utilizing a customised credit decision model without investing in the headcount or infrastructure required by a centralised credit department. By utilizing the D&B Global Access Toolkit, we were able to incorporate this functionality into our field order entry software. In addition, we were then able to seamlessly integrate the acquired credit information into our front and back-end databases. The Toolkit thus allows us the means to speed up the credit decision process, reduce administrative expense, and to share information throughout the organisation," said Gene Cofield, Business Transformation Manager, Randstad North America.
"D&B is the only company with the global reach and the integration tool we needed – the D&B Global Access Toolkit – to create, deliver information online in real time and manage a fully automated receivables-insurance process," said Ranjini Pillay, Vice President of AIG eBusiness Risk Solutions.
"Our system is based on the latest telecommunication technology and an interface built using D&B's Global Access Toolkit. Now, by using a touch tone telephone our customers can select a company, access the D&B global database and receive data in a predefined layout, easy to read and to understand. Nothing could be more simple." Alexandre Saboundjian, Co-CEO Europe of MagicPhone, A Tellme Company.
Customers interested in learning more about the D&B Global Access Toolkit should visit the Toolkit Web site located at http://globalaccess.dnb.com or call Simon Covill at (44) 1.494.422.164.
The D&B Global Access Toolkit was recently awarded second place in the best tool category during the Internet World Trade Show in Berlin, Germany.
NCM PREDICTS HIGHER CLAIMS FOR 2001 AS TRADING RISKS MOUNT
FURTHER PROFIT GROWTH FOR NCM
NCM, rapidly expanding from its credit insurance base into being a leading provider for receivables management solutions, has declared another record profit for 2000.
Some 17,000 businesses in 16 countries already benefit from a more focused and integrated service based on regarding receivables (money owed to a company and often the largest asset on the balance sheet) as essential assets.
This more holistic approach, undertaken in response to changing customer needs, is underpinned by an increased profit announced on the 31 May on the publication of NCM's 2000 Annual Report and Accounts.
The result from ordinary business operations before tax and transfer to the equalisation provision (set up in accordance with legal requirements to cover possible future losses) was €42.4 million, an improvement of 15 per cent compared to 1999 (€36.9 million). The net profit after taxation amounted to €32.2 million (1999: €14.3 million), an increase of 125%.
Receivables Management
NCM Chief Executive Officer Gerard van der Stelt said;
"Customers need a much higher quality of credit management and a one-stop shop in managing trade risks now that the world risk map is being redrawn . We strive to meet that need.
"In the United States, where expectations have turned round sharply from 4 - 5 per cent economic growth rates of the past five years to 1.5 per cent at best in 2001, business failures - and claims - are likely to increase significantly. Claims generally can be expected to increase, as heralded by our worsening US claims ratio - a true weather vane of deteriorating economic circumstances."
Beyond Credit Insurance
NCM offers integrated receivables solutions including information, interim credit management services, training, credit insurance, securitisations, factoring, debt collection and guarantees. It is not only pursuing greenfield initiatives but actively acquiring and partnering with companies that can add value to this range.
Expansion worldwide
A major step was its acquisition, in 2000,of 100% of the shares of the leading Italian guarantee and credit insurance company Societa` Italiana Cauzioni (SIC) of Rome. Italy, the world's fifth largest economy, has a fast growing market for trade credit, for which the combined strength of NCM and SIC is catering.
NCM Americas Inc, formerly the Baltimore-based Maryland Netherlands Credit Insurance Company (MNCIC) was successfully integrated .It is now rapidly meeting the receivables management needs of the North American markets.
New products, new services
A new company, eCredible, was launched, offering a web-based credit management service to facilitate on-line and off-line credit management.
Financial Solutions Unit was based in the City of London to offer sophisticated financial and risk transfer techniques to large corporations.
Guarantee (bonding) products were added, and also factoring, with the acquisition of Danish factoring company, Forenede Factors A/S. Another acquisition, of specialist underwriter Teri Ltd., provided a new service for exporters of high value capital goods, helping them alleviate exchange rate risks during the tender-to-contract period.
Europe-wide debt collection services were strengthened with the creation of NCM Eurocollect. It also offers interim credit management services and training.
NCM Orbis was set up. This comprehensive new online system, accessed through the Internet, helps customers administer their credit insurance policies.
Financial Highlights
Insured shipments of goods and services (total value of the risks borne by the NCM Group) increased by 36.6 per cent in 2000 to €172.6 billion (1999: €126.3 billion).
Total revenues increased by ten per cent to €501 million (1999: €456.5 million). Gross written premiums (total of both direct and indirect premiums) increased by 8.9 per cent to €385.9 million on account of both autonomous growth and acquisitive growth (NCM Americas). Other income increased due to the acquisition of Danish factoring company, Forenede Factors A/S and strong growth in collection and interim credit management services.
The return on the equity adjusted for the equalisation provision (ROE) amounted to 15.4 per cent for 2000 (1999: 13.4 per cent).
Costs were held to the same level in 2000 as in 1999.
The guarantee capital, including the equalisation provision, amounted, in total, at the end of 2000 to €294.9 million, or 172 per cent of net earned premiums.
Financial Highlights (Medium Term Business NL)
NCM NL is responsible for executing the officially supported export credit insurance facility of the Dutch Government. The year 2000 was less favourable for this kind of export credit insurance compared to 1999. A net result of €213.5 million (1999: €323.0 million) was booked to the Government Account (excluding the result for the account of the Ministry of Economic Affairs). This is mainly a consequence of less recoveries (total amount €266.6 million) under various Paris Club agreements (€238.2 million) and an increase in claims to €80.8 million.
Premium income for the Dutch Government account totalled €37.9 million.(excluding the result for the account of the Ministry of Economic Affairs).
During 2000 NCM and the Ministry of Finance reviewed and revised the existing agreement between the Dutch Government and NCM agreement. From 1 January 2001 NCM is providing, for its own account, political and commercial risk cover for credit terms up to two years - or, if manufacturing risk is included, a risk period up to three years -, in principle, for all countries. These new arrangements will apply to all companies operating in The Netherlands. To date, risks on non-industrialized countries were for the account of the Dutch Government.
WISH LIST
ICC Information Ltd, the credit information provider, has come up with the idea of an election 'wish list' of things that they would like to see the next government introduce. Below are three initial points.
Here is your chance to have your 'say' and perhaps have your influence on the next government. Please e-mail jarnold@creditman.co.uk with details of Your Wish List and we will pass them on. Please put in the subject header "Wish List"
*** FORTHCOMING CREDITORS MEETINGS ***
Contributed by http://www.insolvency.co.uk
For more detailed information and ALL the British Isles insolvency's (liquidation's, receiverships, administrations, dividends, creditors) please visit http://www.insolvency.co.uk
From 04/06/2001 to 12/06/2001 Number of Creditor meetings : 120 Section Company Time Venue 138 Scotland - Interim Liquidator calling Creditors Meeting 05/06/2001 Gala Developments Ltd 12.00 pm Glasgow Nextcount Ltd 11.00 am Dundee 06/06/2001 Key Engineering Ltd 11.00 am Dunfermline SJH Contracts Ltd 02.00 pm Glasgow 07/06/2001 NPLC Ltd 03.00 pm Edinburgh Turner Industrial Services Ltd 10.00 am Glasgow 08/06/2001 Food Machinery Services Ltd 12.00 pm Edinburgh 11/06/2001 Elkdrive Ltd 12.00 pm Glasgow Federal Bureau of Design Ltd 10.30 am Edinburgh 12/06/2001 Furniture First (UK) Ltd 11.00 am Dundee 23 Administrator Calling a meeting of Creditors 05/06/2001 Creative Kids International Ltd 10.15 am Manchester 06/06/2001 Yorkshire Telecommun (Leeds) Ltd 10.30 am Driffield 07/06/2001 ASP International Ltd 10.00 am Worcester 12/06/2001 Ciro Citterio Menswear Plc 10.30 am Birmingham 48 Receiver calling unsecured Creditors Meeting 04/06/2001 Quality Tempered Glass Ltd 10.00 am Sheffield 05/06/2001 I D Overprinters Ltd 10.30 am Leeds Rose Forgrove Ltd 10.30 am Leeds 07/06/2001 Unetech Ltd 10.30 am Guildford 11/06/2001 Baruser Stocks Ltd 10.00 am Sheffield 67 Scotland - Receiver calling Meeting of unsecured Creditors 04/06/2001 Rammerscales Sawmill Ltd 02.30 pm Glasgow 06/06/2001 Petrol Plus (Angus) Ltd 11.00 am Glasgow 98 Creditors Voluntary Liquidations 04/06/2001 Access Precision Engineering Ltd 11.00 am Portswood Aim Plastics Group Ltd 11.30 am Tunbridge Wells Ashtree Developments & Joinery Ltd 11.00 am Rochester Barclay Sports Ltd 03.30 pm Lutterworth C F Specialist Paving Ltd 02.00 pm Newport C J Davies Ltd 11.00 am Birmingham C J Engineering (NW) Ltd 10.30 am Liverpool Cafe Metz Ltd 11.00 am Leicester Comac Site Services Ltd 03.15 pm Bradford Dexit (London) Ltd 10.30 am Thrapston First Finish (MK) Ltd 10.30 am Newport Pagnell Hartlington Consultants Ltd 11.15 am Bradford Honey N Lemon Marketing Ltd 11.30 am Southampton Howards Asbestos Removal Special Ltd 10.30 am Sheffield K2 Foods Ltd 03.45 pm London Northland Ltd 10.30 am Hertford Sofamouse.Com Ltd 10.15 am London 05/06/2001 AA Catering Services Ltd 11.30 am Aldridge Acorntrack Ltd 11.00 am Stockport Acquisition & Retention Corp Ltd 11.30 am London Alexander Estates Ltd 04.00 pm London Bill Lines Erectors Ltd 11.30 am Cambridge CBT Coachways Ltd 11.15 am Manchester Corridor Publications Ltd 12.00 pm Tunbridge Wells Epiclink Ltd 10.00 am London Fairfield Engraving Co Ltd - The 11.30 am Croydon Foundation Ventures Ltd 10.00 am St Albans Ikawl Ltd 11.30 am London Inter-Nation Express Ltd 11.30 am Southampton Lappin & Lefeuvre Holdings Ltd 12.00 pm Manchester Martial Arts Foundation Ltd - The 10.00 am St Albans NSM Mining (South West) Ltd 10.30 am London Network Systems & Supplies Ltd 10.30 am Sheffield Newman Carter Hill Ltd 11.00 am Edgware Northants Press Agency Ltd 02.00 pm Cambridge One Together Ltd 12.00 pm London P V Dew Transport Ltd 11.30 am Worcester Prestige Security Consultants Ltd 11.00 am Birmingham Ringrise Ltd 11.00 am Hereford S R D Demolition Ltd 11.30 am Peterborough W F S (Iron & Steel) Ltd 11.00 am Sheffield Wear Moi Dancewear Ltd 11.15 am Gerrards Cross Yam Ltd 11.30 am Walsall 06/06/2001 Amplitude Exhibition Service Ltd 10.15 am Leeds Bank House Personnel Ltd 11.30 am Birmingham Classic Catering Services Ltd 02.15 pm Kingston upon D C A (Manchester) Ltd 11.30 am Manchester E C Heating (High Wycombe) Ltd 10.30 am Reading Glasgow Cold Storage Ltd 11.15 am Glasgow Immedicare Ltd 03.15 pm Kingston upon John Simpson Electrical Ltd 10.30 am Chandlers Ford Kingfisher Glass Products Ltd 12.30 pm Abergavenny Professional Consultancy Serv (UK) Ltd 10.30 am Bradford Queenspark Developments Ltd 12.30 pm London Stemar Freight Ltd 11.30 am Altrincham Swingbridge Ltd 10.00 am London WWW Web Tech Ltd 02.30 pm London World Clearance UK Ltd 11.15 am Weybridge 07/06/2001 A G Manufacturing Systems Ltd 12.00 pm Glasgow Acsis Hire Ltd 10.30 am Bolton Broadgate Enterprises Ltd 11l30 am Sheffield Business & Training Associates Ltd 11.00 am Birmingham Carserve Ltd 11.30 am Lutterworth Codemarks Ltd 10.30 am Birmingham Computer Telephony Technologies Ltd 10.30 am Droitwich Hidden Systems (UK) Ltd 11.15 am Surrey Laurens Water Garden Ltd 03.00 pm Bristol Leveret Building Services Ltd 03.00 pm London Pearl Masters Ltd 01.00 pm Standish Porta Fashions Ltd 02.30 pm London Recruitment.Com Ltd 10.00 am St Albans Synergix Support Services Ltd 02.30 pm London Woodway Joinery Ltd 11.00 am South Ruislip 08/06/2001 Active Construction (UK) Ltd 11.15 am Chatham Avon Bolt Co Ltd 11.00 am Bristol Hartley James Ltd 02.30 pm Northampton Hunter Steel Scaffold Ltd 10.30 am Liverpool Indexmode (Overseas) Ltd 11.15 am London MX Maintenance Xtra Ltd 10.15 am Kingston upon Manor Electrics Ltd 11.00 am Birmingham Martam Ltd 11.30 am Peterborough Patrick Moyle Fabrications Ltd 11.15 am Exeter Redline Courier Services Ltd 01.30 pm Luton Swatchcraft Patternbooks Ltd 11.00 am Manchester Wildwood Shopfitting Ltd 10.15 am Southend-on-Sea Wings of Whyteleafe Ltd 11.30 am Cambridge 11/06/2001 Danehove Ltd 12.00 pm Glasgow J W & D Fuller (Imports) Ltd 11.30 am Altrincham Mr Christmas Ltd 11.30 am Manchester Wildfire Corporation Ltd - The 02.30 pm London 12/06/2001 Advance Rentals Ltd 10.45 am London Bags & Chaps Ltd 02.30 pm Altrincham Colemans Removals Ltd 10.30 am Altrincham Colemans Transport Ltd 11.30 am Altrincham Dunlop Woods Network Heroes Ltd 11.00 am Barnet Fox Recruitment Ltd 12.30 pm Kidlington Keylocks (Warlingham) Ltd 12.30 pm Birmingham Overmind Ltd 03.45 pm London Route 786 Ltd 11.30 am Blackburn
TW LW TW LW
USA 1.42 1.44 Canada 2.18 2.21
Austria 23.10 22.69 Portugal 336.60 330.70
France 11.01 10.82 Belgium 67.72 66.54
Finland 9.98 9.80 Italy 3250.87 3193.97
Germany 3.28 3.22 Sweden 15.38 14.81
Holland 3.69 3.63 Switzerland 2.55 2.52
Spain 279.36 274.47 Ireland 1.32 1.29
Australia 2.81 2.74 Denmark 12.51 12.31
Hong Kong 11.08 11.23 Euro 1.67 1.64
Africa Com 11.38 11.39 Saudi Arabia 5.33 5.40
India 66.87 67.78 Malaysia 5.40 5.47
Singapore 2.57 2.60 Norway 13.38 13.08
Japan 169.29 177.20
TW This week LW Last week.
QXL Ricardo, a pan-European online auctioneer, announced cost-cutting measures that it claimed would put it on target to break even in 2003. It also announced a technology tie-up with Microsoft. QXL's shares soared by 65% in one day but then retreated slightly.
Kevin Hand resigned as chief executive of EMAP, the British media group, after heavy pre-tax losses of GBP527m ($780m) in the year to the end of March. Mr Hand misread the GBP950m purchase of Petersen, an American magazine publisher that has performed poorly and will now be sold.
Source - The Economist
Brewin Dolphin, the fund manager and stockbroker announced pre-tax profits of 8.86 million pounds, on turnover of 58.7 million, for the six months ending 30th March 2001. Earnings per share stand at 3.1p, on increased capital.
Fuller Smith & Turner, the brewers, announced pre-tax profits of 19.3 million pounds, after exceptional credit, on turnover of 128.1 million, for the 53 weeks ending 31st March 2001. Earnings per share stand at 56.8p.
John David Sports announced pre-tax profits of 16.5 million pounds, after exceptional charge, on turnover of 204.5 million, for the year ending 31st March 2001. Earnings per share stand at 24.3p.
MERGER NEWS
The Secretary of State for Trade and Industry has decided, on the information at present before him, and in accordance with the recommendation of the Director General of Fair Trading, not to refer the following merger/s to the Monopolies and Mergers Commission under the provisions of the Fair Trading Act 1973:Proposed acquisition by Waste Recycling Group plc of Hanson Waste Management
Proposed acquisition by Wardle Storey's plc of Irvin Aerospace Ltd
Proposed acquisition by Bromley Property Investments Ltd of BPT Plc
Proposed acquisition by Intercontinental Exchange, Inc. of IPE Holdings Plc
GENERAL HEALTHCARE GROUP LTD/COMMUNITY HOSPITALS GROUP PLC
REFERENCE LAID ASIDE
The Competition Commission has laid aside the reference concerning the proposed acquisition of Community Hospitals Group plc by General Healthcare Group Ltd.
The reference was made to the Competition Commission on 20 March 2001 by Stephen Byers, Secretary of State for Trade and Industry.
The Commission has concluded that the General Healthcare Group Ltd has, within the terms of section 75(5) of the Fair Trading Act 1973, abandoned the proposal to make arrangements for the acquisition. The Commission has accordingly, with the consent of the Minister, laid the reference aside.
Monday 11th June Stoke on Trent Branch of the Institute of Credit Management Credit Management Organisations in Europe - an Overview International speaker Russell KENNARD, MBA AIMC Places at this event are limited - those interested in attending should contact Catriona COLERICK on Telephone Number (01782) 28 2430. Coffee and biscuits will be served from 1830hrs, the presentation will commence at 1900hrs and will be followed by a light buffet to facilitate networking and discussion. The venue is Knight & Sons premises in The Brampton, Newcastle-under Lyme, Staffordshire. 22 June The Institute of Credit Management Fellows' Luncheon Dartmouth House Mayfair, London Tickets £42.00 plus vat To reserve places telephone 01780-722907 E-mail training@icm.org.uk 25 June Institute of Credit Management - Wessex Branch meeting How Credit Managers can get the most out of E-Commerce Presentation by Bill Chalker of the National Westminster Bank Plc Royal Southampton Yacht Club Channel View Road, Southampton. 7pm for 7.30pm start Refreshments provided. Friday 29 June Institute of Credit Management - Sussex & Surrey Branch Summer Social - Wine Tasting Bookers Vineyard Foxhole Lane, Bolney, West Sussex Time: 7.00 for 7.30 p.m. Wednesday, Thursday and Friday 24th to 26th October 2001 International Credit Exhibition & Conference The Westin Stamford, Singapore http://www.internationalcredit001.com Mailto:info@internationalcredit001.com If you have an event coming up which is credit management related and you would like us to make an entry in the Diary section please e-mail the details to jarnold@creditman.co.uk
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