Low & Bonar to close two UK plants
Wednesday 16 September 1998
Low & Bonar said it would close one of its plants at Speke, near Liverpool, and a machinery business in Swindon. The Speke site is dedicated to a contract with Kelloggs, which is not being renewed, and the company says it will struggle to find another owner. Low & Bonar announced in July it would not be renewing the Kelloggs contract when it runs out in April 2000.
Low & Bonar's new acquisition, Leeds-based Waddington Cartons, has modern production facilities in the UK and in the Netherlands as well as a satellite operation in Belgium. The company designs and produces cartons, mainly for food manufacturers. Waddington said in June that its cartons operation would be offered for sale.
Jim Heilig, Low & Bonar's chief executive, said: "This acquisition, which is earnings enhancing in its first full year, provides an excellent opportunity for us to reduce our cost base, significantly strengthen our position in the UK folding carton market and establish a platform for expansion in continental Europe."
Martin Buckley, chief executive of Waddington, added: "We have concluded the sale of this least profitable part of the group quickly and at a good price."
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 New theory could prove how life began and disprove God
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...
£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...