AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

• Loss-making Bees Security Distribution has been acquired by Rockwood Holdings in a deal valued at £500,000.

6th April 1989, Page 16
6th April 1989
Page 16
Page 16, 6th April 1989 — • Loss-making Bees Security Distribution has been acquired by Rockwood Holdings in a deal valued at £500,000.
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

Rockwood issued 500,000 new ordinary 21 shares which were bought by finance company 3i (70%) and Bees management (30%).

Rockwood says there will be some rationalisation at Bees, which lost 2313,000 before tax last year on a turnover of 26.4 million.

There were some redundancies at Bees just before it was acquired by Rockwood when the company shut its Feltham office.

• Rockwood Holdings has also acquired freight forwarder Meadows Canada and Able Customs Brokers for an undisclosed sum. Rockwood is expected to record a major growth in its turnover when it publishes its annual figures this week.