Europe

Germany’s biggest steelmaker, ThyssenKrupp, has announced a major restructuring of its business as it seeks to increase its focus on engineering.

The €10 billion divestment plan is designed to enable the company to strengthen its existing competences in engineering and take advantage of opportunities in emerging markets to expand its current business scope.

The UK has the potential to capture just under a quarter of the global marine energy market, according to analysis released today by the Carbon Trust.

Becoming a global leader in the marine energy market would be worth the equivalent of up to £76 billion to the UK economy by 2050, and generate over 68,000 UK jobs, the Trust said.

New jobs would develop on the back of growing export markets in countries such as Chile, Korea and America, as well as European states facing the Atlantic Ocean, which benefit from powerful waves or currents.

London-based Kalahari Minerals has said it remains confident that its relations with Namibia’s government and its investment in the country will continue, despite proposed changes that could see all mining and mineral exploration permits issued to the state-owned mining company, Epangelo.

The proposed changes, outlined by Namibian Mines and Energy minister Isak Katali, are being considered to ensure Namibian citizens receive more benefit from the country’s mineral wealth. Namibia is the world’s fourth-largest producer of uranium.

Zinkgruvan, the southernmost base metal mine in Sweden, celebrated the end of 2010 with a double whammy: the completion of two vital projects.

French-owned energy group Total is offering $1.37 billion for a majority stake in California-based solar panel manufacturer SunPower, to create a partnership that could help the solar industry move to the next stage of its development.

The boards of both companies have approved the deal, and SunPower will continue to operate with its current management team after it is concluded. Total will also provide SunPower with up to $1 billion of credit support over the next five years.

As April draws to a close, the world’s major oil companies are coming out with their first quarter results for 2011, with ConocoPhillips, BP, EXXON and Shell all reporting this week.

Reporting yesterday, the third largest US oil company ConocoPhillips reported a 43 per cent year-on-year rise in quarterly earnings to $3 billion, but said it was disappointed not to have achieved its production and refining targets.

Synova Capital, a UK private equity fund focused on the lower mid-market, today announced the acquisition of Actimax PLC, a leading UK supplier of IT and telecoms infrastructure services.

Actimax services include the provision of VOIP, systems maintenance, data services, mobile and hosting services, mainly to the underserved SME market.

"We have been able grow Actimax throughout the economic downturn by combining best quality systems with best value pricing and market leading customer service standards,” said John Massey, CEO of Actimax. “

The car manufacturing industry in the UK is under threat from a lack of local component suppliers, according to Nick Reilly, chairman of GM Europe.

Reilly told the BBC this weekend that the lack of home-based parts manufacturers was the most critical issue facing the UK motor industry, which was obliged to import a high proportion of parts.

Even overseas manufacturers like Toyota and Nissan were finding it hard to compete in their UK operations, he said, because of shipping costs and an extended supply chain.

Bristol Cars, the British manufacturer of iconic hand-built luxury cars, has been bought out of administration by Kamkorp Autokraft, part of the Frazer-Nash group.

The company, which makes only a handful of specialist cars every week at its factory in Filton, Bristol, UK, went into administration on 4 March 2011. The acquisition re-establishes the connection with Frazer-Nash which was influential in the foundation of Bristol Cars 65 years ago.