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A former minister turned development consultant has claimed that purchasers suffer from undervaluation and are operating in a risk-free culture. John Gummer MP, chairman of the Sancroft Group, also told delegates to the Institute of Public Finance’s Procurement and Commissioning Forum that it will be increasingly risky for purchasers not to take an interest in sustainable processes.

Joint e-procurement

Kvaerner saves jobs

Anglo-Norwegian engineering and construction group Kvaerner has saved 1,500 jobs at its sub-sea equipment plant in Kirkhill. The company said it has negotiated an extended loan until the end of this year, as talks on long-term financing continue.

Smiths demand soars

Smiths Group said it has been “submerged” with requests for its security products after the terrorist attacks, despite its core customer Boeing slashing more than 30,000 jobs. It said demand for its products that detect chemical agents has risen in the US and the Middle East.

BMI British Midland

MoD overruns ‘worse’

Purchasing time and cost overruns are getting worse at the Ministry of Defence, according to the National Audit Office, writes Cathy Hayward.

Delays prove costly

Three-quarters of European companies experience delays in receiving imported goods, either finished or component, while 79 per cent experience delays in exporting goods, according to a recent logistics survey, writes David Arminas.

Company Barclaycard

Silvon takes on TBC

Toshiba to cut jobs

Japanese electronics and semi-conductor maker Toshiba is to cut 17,000 jobs in Japan and 1,800 elsewhere, while expanding output in overseas markets. However, UK jobs are believed to be secure. The announcement comes as the firm forecast a loss of about £700 million, its largest ever.