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.
Tayport jute ‘survivor’ to be taken over by employees after Tough talks
Scott & Fyfe, one of the survivors of the Tayside jute industry, is being acquired by its employees. The 148-year-old Tayport company, which started as a linen works, reinvented itself under former chairman Hamish Tough in the 1960s with the development of polypropylene to operate in the flexible industrial bulk container business (Scotsman).
Knitwear business boosting workforce
A Shetland knitwear business said yesterday it was boosting production and adding to its workforce, thanks to a buoyant export market. Laurence Odie Knitwear (LOK) added overseas sales of its products, which are made almost entirely from Shetland yarn, showed no signs of slowing down and the company needed to increase output (P&J).
More than half of executives leave Aggreko board
AGGREKO has announced a major shake-up of its business that will see more than half of the Glasgow-based temporary power supplier’s executive board members replaced by the end of next year (Scotsman).
ENERGY & UTILITIES
Bridge to list as it looks to join wave of M&As
A North Sea oil and gas firm run from Aberdeen is joining the AIM stock market as it prepares to participate in the wave of mergers and acquisitions sweeping the sector. Bridge Energy has asked to be listed from September 27. On admission to AIM the group expects to have a market capitalisation of about £78 million (Herald).
FOOD, DRINK & AGRICULTURE
Halls of Broxburn factory lease back plan fails
The owners of Halls of Broxburn have turned down an offer from the Scottish government to buy and lease back the threatened food factory. It emerged late on Thursday that the latest plan to save the plant, and its 1,700 jobs, had been rejected by parent company Vion (BBC)
MEDIA & LEISURE
Goals celebration after victory in legal battle with the taxman
SHARES in Goals Soccer Centres surged yesterday after the East Kilbride-based five-a-side football pitch operator won its long-runing battle with the taxman over VAT charges. HM Revenue & Customs last year ruled that Goals would have to charge VAT on block bookings for its football leagues (Scotsman).