A.E.C. Invests in New Cyprus Bus Plant erHE construction of
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a new bus body' building plant, large enough to supply the entire future bus replacement needs of Cyprus, is to be financed by A.E.C. Ltd. The company is at present finalizing an agreement with its distributors in Cyprus, S. Z. Eliades and Co., of Nicosia, who will supervise the construction of the new plant.
Mr. R. G. Bennett, A.Er.'s export manager, who has negotiated the development, said this week: 'The plan has already gained the whole-hearted support of the island's Government, which has welcomed the project since it will provide a new source of employment and introduce a new industryto the island's economy ".
A.E.C.'s existing body-building subsidiaries, Park Royal, Roe and Verheul of Holland, will co-operate in the Cyprus development by providing technical assistance and personnel to give the project maximum impetus.
Esso Profit Down A LTHOUGH sales of Esso products
in 1962 reached record levels, and total income rose by nearly 00 m. to £354,086,000, the company's net profit fell by just over £4 m. to £5,669,000. Exports into Europe and other countries were valued at £17 m.