UK: CAMMELL LAIRD PLANNING GREATER THINGS

Article Abstract:

Cammell Laird, the UK shipbuilder and repairer, has announced plans to transform itself from a UK shipbuilder into a shipbuilder for the western hemisphere. To implement the new strategy it is now looking to acquire port leases and shipbuilding companies in the US and in Europe. Cammell also believe there are significant opportunities in the deep water oil exploration market, and its recent announcement of a lease signing with the Port of Marseille, means it is well placed to handle deep water vessels. The new plans need to be financed however, and the company is about to make a cash call on shareholders, although its exact funding requirements are still unclear as yet. Cammell's results showed organic profits up by 33% to GB[pound] 16mn, with underlying sales up 23% to GB[pound] 131mn. Despite the strength of the pound the UK's lower labour costs have helped the company to retain a competitive advantage, and led to it winning a GB[pound] 53mn contract to convert an Italian cruiseliner into a vessel larger than the QE2.

Ship Building and Repairing, Shipbuilding & Repair, Shipbuilding industry, Cammell Laird

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UK: EGG CLOSE TO A DECISION ON EUROPE

Article Abstract:

Egg, the direct banking operation of Prudential is likely to expand onto the continent but when that will happen is still unclear. The company also wants to increase its presence in the UK and revamp its products, possibly replacing its range with a series of linked products.

Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Planning, Property and casualty insurance, Property and casualty insurance industry, Egg, Prudential

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