Nufarm to axe jobs
The agricultural chemicals company, Nufarm, will axe 50 jobs as part of plans to reduce its European manufacturing operations and save at least €16 million a year.
Nufarm planned to close its manufacturing facility in the Netherlands, and cut costs and increase capacity at plants in England and France over the next 18 months.
It said the restructuring would cost up to €30 million, most of which would be booked in the second half of the current financial year.
The changes were expected to be completed by July 2016.
Nufarm has already outlined plans to restructure its Australia operations.
The changes were estimated to save $100 million over the next two to three years.
Nufarm also said its half year operating profit is forecast to be ahead of the same period a year earlier.
Clearance to buy KIN Holdings shares
The Australian Foreign Investment Review Board has given Millennium & Copthorne Hotels and the Singaporean private investment group, Tai Tak Group, clearance to buy the near 39 percent of shares in KIN Holdings, which Millennium did not already own.
The deal to buy Millennium's Australian-based holding company is valued at $31 million and will be finalised at the end of the month.
Enprise Group invests in new assets
Enprise Group says it has bought the business assets of MYOB EXO's GlobalBizPro practice for an initial price of $375,000.
The company wouldl pay a mixture of cash $275,000 and new shares at an issue price of 50 cents each.
A further cash payment of up to $375,000 dollars was payable over the next 12 months, if certain financial targets were achieved.
Enprise Group said GlobalBizPro could add up $1.6 million of annual revenue to its business.