July News in Brief
º The UK industrial products distribution market was worth £1.73bn last year and is forecast to grow by 1–2% a year over the period to 2010, according to a report from AMA Research. The market has been adversely affected by the migration of manufacturing to low-cost countries, and during 2005 and 2006 it declined in real terms.
º The Sheffield-based heavy engineering business DavyMarkham has been bought by a management team, backed by the Yorkshire buyout fund, Endless LLP. The £14m turnover company, which employs 170 people, will be led by Kevin Parkin as managing director and Duncan Hay as financial director. They plan to recruit more staff and to launch an apprenticeship scheme.
º The US fluid motion and controls supplier Flowserve has acquired MF Sealing Systems, based in Middlesborough, UK. The deal will strengthen an existing alliance between the two for pump and seals sales and maintenance.
