WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
Green Investment Bank plans its first Scottish investment this year
THE chief executive of the newly-launched Green Investment Bank (GIB) is confident of securing the state-backed lender’s first investments in Scotland before the end of this year. Shaun Kingsbury was speaking after the bank’s official launch in Edinburgh today, when details of its first funding projects were unveiled by Business Secretary Vince Cable (Scotsman).
ENERGY & UTILITIES
BP’s $1bn North Sea sale hints at renewal of Abu Dhabi concession
OIL major BP appears back on track to renew a key Middle Eastern contract following yesterday’s agreement to sell a package of North Sea assets to the state-controlled energy firm of Abu Dhabi (Scotsman).
FOOD, DRINK & AGRICULTURE
Profits rise at malt whisky firm Gordon & MacPhail
MORAY-based malt whisky specialist Gordon & MacPhail achieved a hike in profits in its last financial year and is enjoying strong growth in sales of its Benromach single malt at home and abroad (Herald).
Balfour Beatty wins £125m Scottish roads contract
Infrastructure group Balfour Beatty has been awarded a long-term deal, potentially worth more than £125 million, to manage and maintain major trunk roads in south-west Scotland. Perth-based Scotland TranServ, a joint venture between Balfour and Mouchel, will replace current contractor Amey when the contract starts on 1 April (Scotsman).
Edgen Murray acquires Scots steel-cutting plant
THE boss of a North Lanarkshire specialist steel-cutting facility established in the wake of the closure of a major Corus plant said he hoped to bring more jobs to the area after it was acquired by Edgen Group. Mark Allard established the production facility in Bellshill, North Lanarkshire, in 2009 as managing director in Scotland for independent sheet and plate steel firm Eterniti Steels (Herald).
MEDIA & LEISURE
John Menzies snaps up Orbital in deal that could be worth £20m
Logistics group John Menzies has agreed to buy Kent-based Orbital Marketing Services in a deal that could be worth almost £20 million and takes its distribution arm into new areas. The deal adds nine different businesses areas to the group’s mature newspaper and magazine handling business, including travel brochure printing and distribution, e-commerce outsourcing, as well as an online crafts website (Scotsman).