Battered giant forced to change its ways; Hanson's sale of its stake in ICI opens a new chapter

Article Abstract:

In May 1992 Hanson sold its stake in ICI and on May 14 1992 is expected to announce a fall in interim profits to about 490 million pounds sterling before tax. Three new non-executive directors have been appointed. David Clarke succeeds Lord White in the US and Derek Bonham becomes chief executive officer. Hanson demonstrated its line management and the quality of its operating businesses at a London meeting of analysts and investors on Feb 14 1992 to inform shareholders. Mature, cyclical businesses are its preference so the next major acquisition will probably be in the US. European acquisitions are in a different style to expand the geographic scope of its operations.

Management, Imperial Chemical Industries PLC, Hanson Industries PLC

---

Glaxo invests in '1bn pounds sterling hot-house' to foster discovery

Article Abstract:

Glaxo, the second largest pharmaceutical company in the world, is building a research centre costing 500 million pounds sterling and covering 1.5 million square foot in Stevenage. It is due for completion in 1994, housing 1,400 staff. Between 1990-1992 Glaxo has opened or extended sites in Japan, Italy, France, Spain and the US. Researching compounds and developing drugs is essential to the company so it provides the best facilities to attract the best staff. In 1991 research and development expenditure was 475 million pounds sterling.

Pharmaceutical preparations, Buildings and facilities, Pharmaceutical research, Glaxo Pharmaceuticals

---

Venturing a change to an inexact science

Article Abstract:

Many venture capital investment trusts have made huge losses since the end of the 90s. Causes have been the recession, the dependence of small companies on a small number of investors and high interest rates. The British Venture Capital Association introduced new guidelines on valuations in 1991. It recommends that investments should be valued at cost less a provision if appropriate. Smaller companies with a value below 5 million pounds sterling are valued on a basis comparable to larger companies less a 30% discount.

Laws, regulations and rules, Investments, Venture capital companies, British Venture Capital Association

Similar abstracts:

• Abstracts: Kohl's rottweiler is called to heel. Kohl's foe may pull Britain into European inner circle. Lonely end for wife of the 'eternal chancellor.'
• Abstracts: Drugs giants flex muscles as SA tries to cut health bill. Japan's cult hero PM wins new mandate for reforms. Bio-pirates raid trees in the swamps of Borneo
• Abstracts: Leader-member exchange: antecedents and consequences of the cadre and the hired hand
• Abstracts: Keep an eye on the changes. Definite articles are so hard to find. One firm's cringe is another's pride
• Abstracts: A way out of the benefits trap. The stagecoaching of Britain. Why councils must take care

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.