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Woman: And now here is the main business news of the day.
The UK company Waymans confirmed today that managers there were continuing to reorganise the company, and have now decided which of their businesses to sell. Both their car components business and their sports car production will stay within the company.
However, the sale of their racing car business is planned for next month and already has a possible buyer. A spokesman for Waymans said the company had agreed to sell the business because of its low profits, even though sales which were poor last year have started to recover. The buyers are specialists in the field and are confident they can continue this recovery. Waymans’ Director John Blake confirmed that the sale was just one of several major changes they had made in the company in 1999, a process started two years before, in 1997, by their MD. Mr Blake explained that having fewer businesses would leave more money available. It is believed that the company will spend any money made from next month’s sale on new equipment, instead of the building work that was originally planned.
Man: Teltalk, the mobile phone company, today confirmed that David Driver is mowing from his position as Personnel Director to become Chief Executive. Reports suggest he will take up the position next month. Earlier in the year Mr Driver announced that Teltalk might merge with a company in Europe, but latest reports are that they now intend to join a British company.
Teltalk has also announced that Greens, the software retailers, intend to sell their eleven per cent share in the company next month. Teltalk has not named the company which intends to buy this share but has confirmed that it is an electronics company.