Scottish Business Briefing - Wednesday 29 August, 2012

ENERGY & UTILITIES

Eland plans to fund Nigeria stake with first Scots AIM float of 2012

Scotland’s first Alternative Investment Market (Aim) flotation of the year is to take place next week as an Aberdeen oil and gas group prepares to raise funds for a major acquisition (Scotsman).

Cairn moves its exploration to warmer climes

CAIRN Energy yesterday highlighted the potential for oil and gas in Morocco and the Mediterranean, following its frustrations in Greenland. The Edinburgh-based group is paying £38m for a 50 per cent stake in a licence off the Moroccan coast shared with a number of smaller companies (Scotsman).

£10m prize up for grabs for one of four firms that tames the waves

FOUR tidal and wave power developers are competing for a £10 million Scottish award to crack one of the world’s toughest technological challenges, it was announced yesterday. MeyGen, Aquamarine Power, Pelamis Wave Power and ScottishPower renewables will battle it out for the prize (Scotsman).

Read all today’s energy and utilities news from scotsman.com

INDUSTRY

Balfour Beatty lined up for Edinburgh University’s latest project

Edinburgh University has named construction and infrastructure giant Balfour Beatty as preferred bidder for its £110 million student accommodation project (Scotsman).

31 redundant as Findlay Clark put into liquidation

FINDLAY Clark Landscapes (Aberdeen) has been placed in liquidation after struggling to keep skilled workers from moving to better paid oil and gas jobs.The business was hit by a mild winter causing a drop in demand for its gritting and snow clearing services (Herald).

Jobs saved as Barr Group sells factory

CONSTRUCTION firm Barr Group has sold its Solway Precast concrete factory in South Ayrshire to a consortium led by the plant’s former managers (Scotsman).

Read all today’s industry news from scotsman.com