A round-up of today's other stories in brief
UK insulation rules to help Kingspan
Kingspan expects sales volumes in its insulation business to grow by at least 80 per cent over the next few years as new UK building regulations come into effect.
The new measures, which will become effective next April, are designed to make buildings more energy-efficient and to save on carbon emissions.
Kingspan chief executive Gene Murtagh said yesterday he expects more competition next year as rivals raise supply in anticipation of the new laws, while demand is held back by a time lag in new buildings being constructed under the regulations.
"Next year won't be anything like a bloodbath . . . but it will certainly be a tighter year on the competition front in insulation," said Mr Murtagh. - (Reuters)
Century to open pre-fab wall plant
Century Homes is to build the first ever closed-panel wall manufacturing unit in Ireland or Britain. The timber-frame company, which was taken over by Kingspan in March, said yesterday that it would begin a research and development (R&D) programme on closed-panel walls in Tullamore, Co Offaly, over the coming weeks.
Closed-panel walls are delivered to building sites pre-fitted with insulation, plumbing and electricity, thus making construction much faster.
Century Homes has not yet selected a site for the closed-panel manufacturing plant but it is thought to be looking at Co Offaly.
Scottish Power rejects Eon bid
Britain's fifth-biggest energy supplier Scottish Power yesterday rejected a £10.7 billion (€15.6 billion) takeover offer by Germany's Eon, heightening speculation other bids could emerge.
Eon, Europe's second-biggest listed utility stock which flagged its interest in acquiring Scottish Power on September 5th, said the Glasgow-based firm had rejected it 570-pence- a-share proposal and turned down a request to look at its books.
Analysts and bankers said Scottish Power remained a takeover target, with some suggesting that Eon's local rival, RWE, might be in the frame after it recently agreed to sell its British and American water business to focus more on energy. - (Reuters)
EU court to rule on GE appeal
A European Union court will rule on December 14th on General Electric's appeal against a European Commission decision which killed GE's proposed purchase of Honeywell, the court calendar showed yesterday.
The decision will be delivered by the European Union's Court of First Instance in Luxembourg, its second-highest court.
The European Commission rejected GE's proposed purchase of Honeywell in 2001, although the United States approved the deal. - (Reuters)
Black arraignment delayed for week
Former media baron Conrad Black's scheduled arraignment on federal charges that he looted US-based Hollinger International of nearly $85 million (€72 million) and misused company perks for a party and a vacation was delayed yesterday until next week.
At a hearing in Chicago, an assistant US attorney said that one of Lord Black's attorneys had told him in a telephone conversation Monday night that Lord Black intended to appear at the arraignment, now scheduled for November 30th. - (Reuters)
