This week in business (19/01/11)
Aviation — Sabena TechnicsZaventem-based Sabena Technics has won a 12-year contract from the French navy for the maintenance of six Falcon 10 transport aircraft.
Biotech - Galapagos
Mechelen-based bio-technology firm Galapagos has received an additional €7.4 million from pharmaceutical giant GlaxoSmithKline to meet additional development criteria for an anti-arthritis drug. The company has already received payments of some €55 million from GSK.
Biotech - Innogenetics
Ghent-based Innogenetics, taken over last year by the Japanese Fujirebio, is to cut 80 jobs, one- third of the current workforce. The parent company said it intended to move away from research and development toward sales and distribution.
Hotels - Hilton
The landmark Brussels Hilton hotel on Waterloolaan is to be rebranded as "The Hotel" from 1 February. The move follows the acquisition of the landmark building by the Swedish Pandox group for €25 million and the termination of its management contract with the Hilton group. The 40-year-hotel will go through a €25 million renovation. Other hotels already operated by Pandox in Brussels include the Bloom and the Crown Plaza Palace.
Pharmaceuticals - Omega Pharma
Omega Pharma, based in Nazareth, East Flanders, has acquired a number of strategic brands in the UK and France, for a total price of €14 million. In France, the company acquired Duo LP Pro, an over-the-counter treatment for head lice and nits. In the UK, Omega acquired three brands from the Shapesmart slimming products range from Goldshield.
Post - TNT
Dutch transport and express delivery group TNT is selling its Zaventem-based distribution services to its management. The deal is backed by the Amsterdam- based NPM Capital investment fund. The move is not expected to have any impact on the company's 450 employees.
Retail - Antwerp
Rents on Antwerp's Meir, the city's main shopping street, have caught up with those on Brussels' Nieuwstraat, according to the recently released Cushman & Wakefield retail survey. At some €1,800 per square metres yearly, the rents are the country's highest.
Security - Brink's
The ailing local affiliate of US-based security services firm Brink's will file for bankruptcy. The move precedes its relaunch in a joint venture between the Swedish Loomis security group and local businessman Ramy Baron. The future owners have guaranteed that some 300 jobs out of the existing 398 would be secure and that the four operational bases would remain open.
