Newspaper article The Journal (Newcastle, England)


Newspaper article The Journal (Newcastle, England)


Article excerpt

| Scanning and x-ray technology |specialists Kromek Group revealed plans to double headcount at its Sedgefield operations thanks to an undisclosed investment. Chief executive Arnab Basu said the firm was building 24 new furnaces to create the detection materials which power all its products.

| Early in the month, notable |North East businessman Barry Moat revealed he was leaving the board of housing developers Lugano. He was replaced as chairman by Richard Robson, the former chief executive of Tynedale Council.

| Gosforth office complex the |Regent Centre was acquired by investment firm Kennedy Wilson Europe Real Estate Plc as part of a PS296m deal. The 320,000 sq ft centre formed part of the Fordgate Jupiter portfolio, sold to the firm following its PS1bn equity-raising activity. Tim Evans, proprietary partner at Knight Frank, cited the presence of airline Emirates at Newcastle International Airport, and its long-haul routes, added to the Regent Centre's attractiveness.

| Official figures surfaced to show |the North East's business continued to drive up the value of its exports - at a rate ahead of any other English region. Second quarter data showed PS3.102bn worth of goods were sold to foreign markets, from the region.

| Automotive manufacturing |supplier Lear Corporation detailed plans to create more than 100 new jobs in doubling the size of its Wearside operations. The US-based firm aired plans to invest several million pounds to extend its Rainton Bridge Industrial Estate facilities by a further 3,500 sq m.

Within the mining industry, |Durham-based Hargreaves Services boss, Gordon Banham, said the firm would be the "last coal company standing". At the time the business increased underlying pre-tax profits by 5.6% to PS55.1m. The results followed Hargreaves' PS26.9m sale of Stockton's Imperial Tankers - taking the group's debt to zero. …

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