Bearings out of balance

Article Abstract:

Bearing Power is a UK company which distributed power components and bearings. The company saw a drop in pre-tax profit for Sep 1994 to Mar 1995, and has postponed a plan to hive off a subsidiary in Canada. The company had planned to acquire Olympic Chevin, but that company was instead acquired by Wyko. The Canadian subsidiary accounted for 56% of Bearing's profit for 1993 to 1994, and over two thirds of sales for that year. A full-year profit of 1 million pounds sterling is forecast by Allied Provincial for 1994 to 1995.

Mechanical Power Transmission Equipment Manufacturing, Plain Bearings, Bearing Power

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Corporate punishment at Bearing Power

Article Abstract:

Bearing Power reported a loss of 80,000 pounds sterling for 1995 to 1996, the tird loss in five years. The company's losses were due to a write-off of stock at a Canadian subsidiary with a change in accounting procedures for stocks. The company's finance director left in Aug 1996 and has not been replaced. Start-up costs in South Africa were more than forecast and there was also a loss of 500,000 pounds sterlin in the UK, linked to the implementation of a new network for distribution.

Construction materials, not elsewhere classified, Construction Materials NEC Whsle, Other Construction Material Wholesalers, Building materials wholesalers, Bearing Power International

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Consuming ambitions

Article Abstract:

Fairfield Enterprises distributes packaging machinery and specialises in printing machinery. Most of the company's turnover is accounted for by Oscar Friedman. Lasercomb, a producer of dies, has more potential though it is smaller. Bobst is a key supplier, and Fairfield has a long term relationship with Bobst. The company has a strong balance sheet and a healthy order book. Fairfield's profit is forecast at 2.6 million pounds sterling for 1998 by Teather and Greenwood.

Machinery, Equipment, and Supplies, Wholesale industry, Wholesale trade, Packaging industry, Fairfield Enterprises Ltd.

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