Engineering a turnaround

Article Abstract:

Engineering firm Wellman has benefited greatly from the purchase of FKI's transport equipment group, FKI's data recording instruments group and FKI Babcock Robey, which designs, produces and supplies industrial boilers and pressure vessels. The deal, which was agreed in Feb 1994, was unusual in that Wellman chief executive Alan Baxter had earlier been employed by FKI, so he was very familiar with the target business. The purchase has set Wellman on a much firmer basis, but it is not currently considering further acquisitions.

Mergers, acquisitions and divestments, Wellman PLC

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Engineering some deals

Article Abstract:

The challenges of key components and raw materials are two issues facing the UK engineering and manufacturing sector in 1998. Import costs have been reduced by a strong pound sterling and there is a shortage of skilled labour. Underperforming companies can be inherited through acquisition deals and these need to be improved before a sale can be made. Globalisation and consolidation are the key features of continued survival for manufacturing and engineering firms beyond the year 2000.

Engineering services, United Kingdom, Industry Overview, Manufacturing industry, Manufacturing industries

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Handled with care

Article Abstract:

Engineering firm FKI has been restructured and repositioned over the last few years under chief executive Bob Beeston. It has made a number of divestments, and is now focusing on developing four strategic business areas. It has also made a number of acquisitions, including the 67.7 million pounds sterling purchase in Oct 1993 of Truth, a leading US manufacturer of door and window operators, locks and hinges.

Interview, Beeston, Bob, Bowers, Eric

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