|
BICC has sold part of its energy cables business to Pirelli for about £130m, including five UK plants and six overseas. 11-Feb-2000 Wassall has sold its stake in BICC for £44m, effectively ending its attempt to take over the construction and engineering group. 18-Nov-1999 BICC is to sell its energy cables division to General Cable of the US for £275m, in order to focus on its Balfour Beatty construction business. 08-Apr-1999 Wassall has launched a £379m takeover offer for BICC, but the move has been rejected by the cables and construction company. 19-Mar-1999 BICC is considering the future of its cables business, which could result in the division being sold in order to focus on railway engineering and project management. 11-Mar-1999 BICC is selling its lossmaking telecommunication cables business to Corning of the US for £82m. 02-Mar-1999 BICC is selling its 50% stake in Optical Fibres to its joint venture partner, Corning of the US, for £26m. 24-Nov-1998 Wassall has built up a 7.3% stake in the BICC cables and construction group at a cost of £29m, prompting speculation that BICC could be broken up or taken over. 13-Nov-1998 BICC is to cut 500 jobs at a fibre factory in Deeside and another site in Australia due to a recent decline in the market for telecoms cables. 20-Oct-1998 Consort Healthcare, a consortium of Morrison Construction, BICC, and Royal Bank of Scotland, is to build and manage a £180m private finance initiative hospital in Edinburgh called the Royal Infirmary. 22-Aug-1998 BICC is to cut 200 jobs at its optical fibres factory at Deeside, North Wales, due to over-capacity in the sector. 18-Aug-1998 Seeboard Powerlink, a consortium that includes BICC and ABB, has won a 30-year contract to operate London Underground's high-voltage power distribution. 14-Aug-1998 BICC is taking full control of its Australian cabling subsidiary, but the remaining electrical and building operations will be placed into a stand-alone company called Metal Manufactures. 22-Apr-1998 BICC and Delta have agreed a £40m asset swap that will see Delta acquire BICC's construction and building wire business and BICC acquire Delta's power and rubber cables business, and about 870 jobs could be lost as a result. 13-Feb-1998 BICC is to merge its Balfour Beatty Civil Engineering and Balfour Beatty International divisions to provide greater focus in the international projects market for work over £40m. 06-Feb-1998 BICC has won two contracts worth a total £100m to provide cabling for Cable & Wireless Communications' TV and telecoms networks and for ESAT Telecom's network in Ireland. 15-Dec-1997 BICC is to merge its German cables business with those of NKF of the Netherlands, forming a new venture called Kaiser Kwo Kabel, in order to make cost savings and increase competitiveness in an overcrowded market. 22-Aug-1997 BICC is planning a £200m expansion in its data cables business, having completed a rationalisation programme which saw it withdraw from the commodity cables business. 06-Mar-1997 BICC is planning a £25m expansion at its high voltage cable plant in Erith, Kent, in order to make undersea power cables, creating up to 60 jobs. 16-Dec-1996 BICC, the cables and construction concern, is launching a £170m rights issue, with some of the proceeds being used to fund the expansion of its manufacturing of optical and data-communications cables, as well as a further move into Asia. 20-Sep-1996 BICC's Balfour Beatty subsidiary has acquired three British Rail track maintenance companies - Eastern Infrastructure Maintenance Company, Southern Track Renewals Company and South East Infrastructure Maintenance Company - for a total £50m. 04-Apr-1996 BICC is to close a cable making plant at Brockville, Ontario, as well as a nearby warehouse, with the loss of 450 jobs. 21-Feb-1996 BICC is to restructure its US operations by merging its utility cable and industrial cable activities into one business. 08-Jan-1996 Westbury is to buy Clarke Homes from BICC for £60.7m. 08-Dec-1995 BICC is considering the sale of its Clarke Homes housebuilding subsidiary, with possible purchasers being Redrow, Wilson Connolly and Westbury. 20-Nov-1995 BICC has announced a £80m rationalisation programme, with job losses, due to the decline in the world cables industry. 16-Nov-1995
|