The week in business: 27 February
Brussels Airport considers accommodating Airbus A380, Solvay builds new production unit in the US and an overview of the rest of the week's business news
Air – VLM
Airports – Brussels
The Gulf states carrier Emirates is in talks to seek solutions allowing the Airbus A380, the world’s largest aircraft (pictured), to land at Brussels Airport. Taxiways and boarding gates would need to be adapted to meet requirements.
Chemicals – Solvay
The Brussels-based plastics and chemicals group is investing $85 million (€76 million) in a specialty polymers resin production unit in Augusta, Georgia. The new plant, to come on stream in 2016, will allow the company to boost capacity of polyether ethercetone (Peek) in high demand worldwide.
Environmental – De Meuter
The Ternat-based building group, with expertise in demolition, decontamination and renovation of brownfield sites, is partnering with two Liège companies to bid for the €1 billion contract to clean up the heavily polluted sites of steel maker Arcelor in the Liège area. Included are two closed blast furnaces, steel mills, coke ovens and 307 hectares of land.
Insurance – Ethias
The ailing insurer, rescued with public funds in 2008, hopes to close its loss-making First life insurance programme. The First account guarantees some 50,000 policyholders an average interest rate of 3.44%. The firm has set aside €450 million to buy out outstanding contracts and hopes to be allowed to create a “bad insurance” fund to park its unprofitable activities. Policyholders would get a one-time-only four years’ of interest in exchange for agreeing to new contracts at current market rates.
Media – Telenet
The Mechelen-based cable and telecommunications group has been given the green light by EU competition authorities to acquire a stake in the Vier and Vijf TV channels.
Rail – Siemens
National railway operator NMBS is forced to delay the introduction of its new double-decker coaches until 2019 because German manufacturer Siemens is legally contesting the €3 billion contract won by its competitor, Alstom-Bombardier. The new rail cars had been expected to start operating from 2017.
