NEWS
TF Solutions taken over by Travis Perkins
T
F Solutions has been bought by the Travis Perkins Group. Operating within the BSS part of the Contract Merchanting Division, TF Solutions bring a hugely successful air conditioning and refrigeration business to the portfolio of BSS which already covers a wide range of sectors supporting contractors with specialist pipeline, heating and mechanical services equipment. Andrew Cherrill has been confi rmed as the new managing director at TF Solutions. He said: “These are truly exciting times for TF, joining the largest specialist supplier of mechanical services in the UK and having the backing and support of the BSS
umbrella means that not only can we continue with our fi rst class service ethos, we can now implement our growth strategy in the AC marketplace, increasing our presence and our support to customers.
“We fully intend to continue operating as we have always done giving our customers a service level which is second to none in the industry; the acquisition deal will allow us to grow as a company and expand that service, and we very much look forward to working with BSS to achieve this,” he added.
Frank Elkins, divisional chief executive of Contract Merchanting at Travis Perkins said: “TF Solutions have an extremely strong identity within the air conditioning and refrigeration market which perfectly complements those which in which BSS already operates. In terms of product, the TF Solutions range will enhance BSS’s product off ering and support us to off er a one stop shop for our HVAC customers.”
Mr Cherrill added: TF Solutions, established in 2001 and a winner of the 2017 ACR News Distributor of the Year, currently employs 48 people at three branches trading across the whole of the UK.”
Dow and DuPont receive conditional approval for merger from MOFCOM
D
uPont and The Dow Chemical Company have announced that China’s Ministry of Commerce (MOFCOM) has granted conditional regulatory approval of their proposed merger of equals.
June Diary Dates
23. Career Development for Women in RACHP. Institute of Refrigeration
Twyning
29. Cool Talks Breakfast Briefi ng Institute of Refrigeration
Milton Keynes
MOFCOM’s approval is conditional on DuPont and Dow fulfilling commitments given to MOFCOM in connection with the clearance. This approval continues the progress that the companies have made to secure regulatory clearances around the world for their procompetitive merger, which they claim will drive innovation and competition. Specifically, and consistent with commitments already made to obtain the European Commission’s regulatory approval for the proposed merger of equals, Dow and DuPont will divest certain parts of DuPont’s crop protection portfolio and research and development pipeline and organisation – and Dow’s global Ethylene Acrylic Acid copolymers and ionomers business. In addition, Dow and DuPont have made commitments related to the supply and distribution in China of certain herbicide and insecticide ingredients and formulations for rice crops for five years after the closing of the proposed merger of equals.
China is a critical market for both Dow and DuPont and will be for the three intended independent companies that will be created following the merger.
The intended three-way separation is expected to unlock significant value for all stakeholders as each company will be a growth-oriented leader in attractive segments where global challenges are generating strong demand for their distinctive offerings.
Dow and DuPont continue to work constructively with regulators in the remaining relevant jurisdictions to obtain clearance for the merger, which they are confident will be achieved. On March 27, the European Commission conditionally approved the merger. The companies expect the merger to be completed between 1 August and 1 September this year.
4 June 2017
www.acr-news.com
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