The week in business: 9 May
Volvo expects bumper year, Aon transfers its pension fund to Belgium and an overview of the rest of the week's business news
Cars – Volvo
The company expects a bumper year in terms of production and has earmarked an investment of €20 million in end-of-assembly processes. The Audi plant in Vorst has also increased production of its A1 this year.
Construction • Besix
The Brussels-based building company has won the contract to build the 1,500 square-metre Belgian pavilion at the 2015 Milan World Fair.
Distribution • FNG
The first stone of the future e-commerce distribution centre of the Wilrijk-based apparel group was laid last week in Antwerp’s east port. The facility, to be completed by early next year, will supply the group’s six international brands, including Fred & Ginger and Claudia Sträter stores throughout Europe.
Engineering • TPF
The Brussels-based engineering bureau has acquired 70% of the Spanish Euroestudio, specialised in engineering of high-speed train infrastructure. TPF paid €25 million last year to acquire another Spanish research outfit, Getinsa, which will be merged with Euroestudio.
Finances • Aon
The UK-based insurance and risk management company has decided to transfer its pension fund from the Netherlands to Belgium to benefit from a favourable regulatory environment. The move follows earlier decisions by the pension funds of Alcon, Euroclear and Johnson & Johnson. Others, including BP, Chevron and Nestlé are considering a similar move.
Fitness • David Lloyd
The high-end fitness and leisure club with facilities in the Brussels district of Ukkel has plans to open a second centre near Antwerp within two years at a cost of over €20 million. A further project in Ghent is expected later.
Holdings • Samsonite
The US luggage manufacturer has created a local holding company, with €3.5 billion of capital to be used as the group’s internal bank. Samsonite already operates an R&D unit and a production unit in Oudenaarde, East Flanders.
Transport • Van Hool
The Lier-based bus and coach manufacturer has inaugurated its €40 million assembly line in Macedonia. The new facility should produce up to 500 buses a year for the US market at costs significantly lower than in local units.
