Alvis set for GKN merger

Article Abstract:

An announcement regarding the GB 300mn merger of UK armoured vehicles manufacturers, GKN and Alvis is expected by the end of September 1998, but the proposed deal will hopefully encourage further consolidation in the UK sector as well as influencing a possible restructuring in the European defence industry. At present, the two companies are still negotiating each company's share on the new business, which will bring Coventry based Alvis, the manufacturer of the Scorpion and Piranha armoured vehicles into the GB 3bn European "battlefield taxi" programme of which GKN is a member alongside France's Giat and Germany's ARGE group. Vickers, the UK manufacturer of the Challenger 2 tank will be further isolated by the Alvis/GKN tie-up, following its unsuccessful bid for the "battlefield taxi" in 1997, although there is a possibility that Vickers could also be included in a three way merger.

Comment:

Is expected to announce by end of 9/98 a merger agreement w/ fellow UK armoured vehicles manufacturer GKN

Military Armored Vehicle, Tank, and Tank Component Manufacturing, Tracked Battlefield Vehicles NEC, Tracked military vehicles, GKN, Alvis PLC, Piranha, Scorpion

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Staveley agrees changes to fend off GPG

Article Abstract:

A plan to buy back 10% of its shares and to return other funds to shareholders has been announced by the UK firm Staveley Industries. The company also plans to demerge its salt supplying division next year, after it has had time to restructure its engineering services section in order to bring it back to profitability. This action be Staveley has been prompted by pressure from Guinness Peat Group, one of its main shareholders.

Comment:

Annouces plan to buy back 10% of its shares & to return other funds to shareholders

Diversified Companies, Staveley Industries PLC

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