Scottish Business Briefing - Wednesday 22 February, 2012

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.

FOOD, DRINK & AGRICULTURE

Chivas mulls new distillery after whisky exports surge

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SCOTLAND’s second-biggest whisky producer is considering building a further distillery as drinkers in emerging economies continue to develop their taste for Scotch (Scotsman).

Devro eyes fresh export growth after 22% surge in profits

SAUSAGE skin maker Devro is targeting further growth in Germany, Japan and Latin America this year after posting a 22 per cent rise in full-year profits (Scotsman).

INDUSTRY

Parklands plans to invest up to £3m in Elgin care home

A Moray care-home provider has announced plans to add another property to its portfolio in the area. Parklands already has six sites in Moray and the Highlands, but will invest up to £3million to develop its first home at Elgin (P&J).

PERSONAL FINANCE

New pension scheme will cost biggest firms up to £11m each

SCOTLAND’S largest employers face a potential bill of up to £11 million each under new legislation designed to “auto-enrol” employees into pension schemes, research has suggested (Scotsman).

RETAIL

Reid plans to shut furniture warehouse

Reid Furniture has become the latest victim of the consumer spending squeeze as it revealed plans to close its Hillington warehouse. This deals another blow to its Renfrewshire heartland, where it closed its factory four years ago (Herald).

TRANSPORT

O’Leary wields Ryanair axe but impact on Edinburgh Airport ‘exaggerated’

RYANAIR boss Michael O’Leary has axed five summer routes and threatened to halve his airline’s winter service from Edinburgh if his dispute with airport operator BAA is not settled by October (Scotsman).