Bunzl continuing on acquisition course
LONDON — Bunzl plc, which has undergone a significant reshaping through acquisitions in the past year, is still on the takeover trail.
London-based Bunzl, which spent £34 million ($57 million) in the first half of 1998, is looking for more businesses to add to its existing operations, according to Chairman Anthony Habgood.
Recent purchases include Enitor BV, a Friesland, Netherlands, profile extruder. Bunzl said that deal complemented its purchase of American Filtrona Corp. of Richmond, Va., in September 1997.
Despite pressure from continued low prices for paper and plastic products and the strength of the pound sterling, Bunzl reported an operating profit of $111 million for the first half 1997, up 16 percent from the same period a year ago, on sales of $1.6 billion.
Autoliv plans air-bag, seat-belt factory
STOCKHOLM, SWEDEN — Autoliv Inc. plans to start up a new $10 million air-bag and seat-belt plant at Olawa, Poland, early next year to serve the country's growing vehicle manufacturing sector.
Stockholm-based Autoliv said the 111,000-square-foot plant near Wroclaw will raise the firm's global air-bag cushion capacity by 15 percent and seat-belt capacity by around 10 percent.
The plant will start with 100 employees, and will reach 600 by the time it reaches full capacity at the end of 2000.
The group's U.S. subsidiary, Autoliv North America Inc., is based at Auburn Hills, Mich.