Centrica's bid sense hard to fathom

Article Abstract:

Centrica has made a bid for the Automobile Association (AA) which will mean a payout of 240 pounds sterling for AA members. Centrica is involved in energy services and is rumored to be planning a telephone services deal with Energis. The rationale behind the AA acquisition is unclear, and the bid has been criticised by some analysts, though a centrica spokesman argues that it is in line with Centrica's focus on high quality services geared to households. There is also concern about the price to be paid for the AA.

Automotive Repair Services, Automotive Repair and Maintenance, Automotive Repair Shops, Automobile Association Ltd., Automobile services industry, Automotive services industry, Centrica PLC, Automotive maintenance

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Accounting skeletons finish off TransTec

Article Abstract:

TransTec has been hit by financial problems and accounting errors. The company had a claim on it of $18 million which went unnoticed, arising from cylinder head deliveries which were late. The claim should have been given prominence in the company's accounts, but was only disclosed on Dec 24 1999. The company's chief executive, Richard Carr, has resigned, as has Bill Jeffrey, former finance manager. The receivers have been brought in and a buyer is sought for the company.

Motor vehicle parts and accessories, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Automobile equipment and supplies industry, Automotive parts industry, Finance, Automotive parts, Transtec

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Knock-out bid boosts Rolls' marine share

Article Abstract:

Rolls-Royce has made 576 million pounds sterling bid for Vickers, a tank manufacturer and marine engineer. A rival bidder is unlikely after such a generous offer. Rolls-Royce is aiming for world leadership in the growing marine power systems market which has a forecast total value of $25 billion for the five years from 1999. Vickers has recently acquired Ulstein, an integrated systems engineer which should benefit from good growth in its sector.

Military Armored Vehicle, Tank, and Tank Component Manufacturing, Engines and Turbines, Marine Engines & Turbines, Engine, Turbine, and Power Transmission Equipment Manufacturing, Tanks and tank components, Tanks & Parts, Engineering services, Engineering firms, Rolls-Royce Ltd., Vickers PLC

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