Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Brits buy German rivals

Lucy Baker
Tuesday 02 November 1999 00:02 GMT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

UK FIRMS went on a shopping spree for German rivals yesterday, splashing a total of more than pounds 148m. In the largest of three deals unveiled yesterday, Morgan Crucible the UK maker of industrial materials, agreed to buy Siemens' magnetic components unit in a deal worth DM380m (pounds 125m) in cash and assumed debt.

Ian Norris, Morgan Crucible's chief executive, said: "This excellent fit provides a strong platform for Morgan to achieve significant organic growth... especially in the telecommunications and transportations."

Separately yesterday, Hanson, the UK-based building materials company, announced it had acquired 75 per cent of Rena, a privately owned German aggregates firm, for pounds 7.2m.

And Associated British Foods completed the hat-trick of Anglo-German alliances by gobbling up Rohm Enzyme, a hi-tech food-ingredients business for "in excess of DM50m".

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in