ROLLS-Royce has won a contract to supply engines and maintenance to 12 of Scandinavian airline SAS’s Airbus planes in a deal worth $1 billion (£650 million) at list prices.
Rolls, the world’s second-largest maker of aircraft engines behind US group General Electric, said its Trent XWBs would power eight Airbus A350-900 aircraft and Trent 700s would power four A330-300s.
SAS, which is 50-per cent owned by the governments of Denmark, Norway and Sweden, already operates four Trent 700-powered A330 planes.
Slimmer profits for food firm 2 Sisters
The maker of Goodfella’s pizza and Fox’s biscuits said it was still feeling the effects of the horsemeat scandal yesterday after a fall in quarterly profits.
2 Sisters Food Group said sales of ready meals continue to struggle after the scandal erupted in January – even though no traces of horsemeat have been found it its products.
The company saw underlying operating profits fall £11.1 million to £20.3m in the 13 weeks to the end of April. Profits were also hit by higher costs, a tough consumer climate and the takeover of operations from Dutch firm Vion.
Horse vets to build £500,000 theatre
Loch Leven Equine Practice has secured a £500,000 loan from Bank of Scotland to expand its premises in Kinross.
The firm, which was launched in 2005, will now be able to perform operations on horses while they are lying down, after previously having had to turn away £120,000-worth of surgery business each year.
As well as the horse operating theatre, the business will build two examination rooms, five stables, an indoor arena for trotting and staff offices. The development is due to open at the end of the summer and will serve Fife, Kinross and Perth.
RBS makes property team promotions
ROYAL Bank of Scotland’s corporate and institutional banking unit has named Jamie Drummond and Phil Sherwood as directors in its commercial property finance team.
The 14-strong group – which has offices in Aberdeen, Edinburgh and Glasgow – has recently advised on deals including an £8 million facility for MacDonald Estates to build student accommodation in Glasgow and an £11m property investment deal agreed with Conygar Investment Group, which allowed the company to secure a portfolio of 15 properties.