Business news in brief: TK Maxx | Peroni | KCA Deutag

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Budget fashion chain TK Maxx will open its doors at Edinburgh’s Hermiston Gait retail park next month after taking up a store formerly occupied by Currys.

Retail park owner Scottish Widows Investment Partnership (Swip) said TK Maxx has taken a 15-year lease and joins recent tenants such as sportswear retailer Decathlon, discounter Poundworld and food outlets KFC and Krispy Kreme.

Swip said the park has increased in value by 20 per cent since it was purchased by its £2.3 billion property trust in 2009 for £66 million. The firm has spent £3m on improvements.

Law firm expanding its Scottish teams

Commercial law firm TLT is embarking on an expansion programme in Scotland, doubling the size of its Edinburgh team.

The expansion in the capital will involve moving into bigger offices, while the firm said it also plans to add staff to its Glasgow operation before the end of the year.

TLT merged with Glasgow-based Anderson Fyfe last year. It also has offices in Bristol, London, Manchester and Belfast.

Tom McEntegart, the head its Scottish practice, said recent upheaval in the market means it is an ideal time to expand.

Peroni firm boosts Ugandan capacity

SABMiller, the world’s number two beer producer, has opened its second brewery in Uganda as it seeks to cash in on growing demand across Africa.

The maker of Grolsch and Peroni has invested $90 million (£57.8m) in the site, doubling capacity at its Nile Breweries arm to 3.6 million hectolitres.

Mark Bowman, head of its African division, said the group was well placed to “capitalise on the continent’s long-term beer market growth over the coming decades”. He said the Ugandan beer market is expanding at 11 per cent a year, driven by a “rapidly growing” population.

KCA Deutag wins £106m contracts

DRILLING rig operator KCA Deutag yesterday said it has won contracts worth more than $165 million (£106m).

Under the first deal, the Aberdeen-based group will carry out operations and maintenance for platforms off the coast of Angola over the next five years.

The other contract is a 30-month extension to an existing drilling and maintenance services agreement for a platform in Norway.

KCA Deutag first began drilling in the Norwegian continental shelf in the 1970s and now employs around 1,100 employees in the region.

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