Cape eyeing China entry with acquistion
Cape, the industrial services firm to the energy and mineral sectors, has made a play to enter the Hong Kong market through the purchase of Hong Kong Fuji Technology (HFT).
Cape, the industrial services firm to the energy and mineral sectors, has made a play to enter the Hong Kong market through the purchase of Hong Kong Fuji Technology (HFT).
The 80% stake will cost Cape a maximum of £4.75m.
HFT is a provider of thermal insulation, painting, grit blasting and scaffolding services to the power industry in its domestic market. It is projected to turnover £7.13m in full year 2012.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Cape's Chief Executive, Martin May said: "This is a key step which provides a springboard for Cape's future expansion into Greater China."
So far during 2012 Cape shares have risen 42%.
BS
-
‘Why I have ditched my Help to Buy ISA for cash savings and the stock market’Without the 25% bonus, my Help to Buy ISA is effectively redundant, says MoneyWeek writer Sam Walker.
-
Is your inheritance tax allowance cut if you sell to downsize or sell your home to pay for care?Downsizing relief is a little-known benefit that could save your loved ones tens of thousands of pounds in inheritance tax after you’ve died.
