Business news in brief 02/04/2012

10 Design adds to Chinese contracts

THE architectural firm 10 Design, which was formed by a team of defectors from Scottish-based practice RMJM, has secured another series of major contract wins in China that will double its workload, Scotland on Sunday yesterday revealed.

The value of the completed projects – including building the central business district of Chong Qing, a Chinese city with a population of 34 million people – will run into billions of pounds and 10 Design’s fees will fuel its international expansion.

Take custard, pasta, add private equity

SOME of Britain’s best-known food brands, including Bird’s custard and Ragu pasta sauce, could reportedly become culinary bedfellows under plans to create a new food giant.

Several private equity firms are understood to be looking to purchase two collections of brands from Premier Foods and Symington’s and merge them under one banner. Premier is mulling the sale of Robertson’s marmalade, Angel Delight, Bird’s and Sarson’s vinegar.

Buccleuch Group back in the black

BUCCLEUCH Group, Scotland’s second-largest property owner, has swung back into the black after two years of restructuring.

The company posted a profit of £700,000 for the year to 31 October compared with a loss of £5.6 million in the previous 12 months. The surplus for the group, which is owned by the Duke of Buccleuch, came despite higher writedowns on the value of the company’s property portfolio, with impairments rising to £4.7m from £2.8m.

Cookson considers £1bn spin–off

ONE of the UK’s oldest industrial companies is reportedly considering spinning off its electronics arm as a separate business worth up to £1 billion.

Cookson has appointed investment bank Rothschild to work on a proposal that would see the electronics division, which makes parts for gadgets including Apple’s iPad and accounts for about a third of Cookson’s annual sales, floated on the stock exchange.