Reverse Takeover24 Dec 2009 07:57
Personally I think it is a positive step. NVR were struggling in their own right and Southbank had impending financial obligation / difficulties which NVR could ease but core business wise Southbanks Hayward Tyler's division looks good :-
Trading in Hayward Tyler's Services Division remains strong with the US operations enjoying significant profitable growth and the order book for the UK operations continuing to hit record levels. The Proposed Directors believe that an appropriate cost structure exists to ensure Hayward Tyler's longer term revenue and profitable growth. The wider macro economic environment, particularly the continued GDP growth of India and China also provide positive indications for the power market. Whilst this market remains competitive in India, due to a large part because of the emphasis placed on open tenders, the Proposed Directors believe that Hayward Tyler is well placed to continue to benefit from the region's growth.