BSN Ezine December 2006

This years BPF Annual Dinner was sponsored by PTL. Raymond Clarke, Managing Director of PTL, in his speech called for more young people to come into the industry.  

Raymond Clarke said in his speech said:

"The National Skills Academy will be a genuine partnership between the industry, educational providers in the industry, the Learning and Skills Council, and national and regional government...The proposed academy will make a real difference to the competitiveness of the sector providing the stimulus for real change in support of a forward looking industry. Improved facilities, more localised delivery, improved access to e-learning, increased influence on government policy and funding, and a stronger focus on the integration of education and innovation."

Following on from this impassioned speech, Secretary of State for Education and Skills, Alan Johnson, announced that The Processing Industries National Skills Academy (PINSA) could indeed become a reality.

Click here to read more.

In a meeting between David Cameron and leading members of the BPF, the Leader of the Opposition acknowledged the importance of manufacturing to a successful economy and signalled support for the manufacture of plastics materials, products and equipment in the UK.

Click here to read more.

Pera is leading the research on a new programme called MICROMELT which is focussed at saving energy and increasing product quality within the plastics processing industry, has been launched across Europe.

The MICROMELT project  is aimed at rotational moulding, exploring technologies to reduce product cost and processing time and to increase surface quality. This will be done by developing highly innovative and advanced technology, which will:

• reduce energy costs by 70%
• reduce processing cycle times by 50%
• improve part quality through the development of retrofitable microwave tool heating and an innovative internal mould cooling system.

Led by Pera, the research is supported by Queen's University and the Fraunhofer Institute. Consortium members are represented European-wide and include Balmoral Group, SPI Play Ltd, Tecni-form, Gisip AB, Ernst Reinhardt, Frigel Firenze S.p.A. and Sturdy Products Ltd.

To read more click here.

Providing essential information for employers, Travers Smith has just released its November edition of Online Update.

CVs- The Whole Truth?
As many at 20% of CVs contain significant lies, according to a recent study by the Risk Advisory Group (an employee screening organisation). They concluded that CV discrepancies are increasing and becoming more serious.

Employers can guard against the risks by ensuring that information provided by candidates is thoroughly checked. Whether this is done by the employer or by an external specialist, the employer should ensure it complies with data protection requirements. The Employment Practices Data Protection Code, which is not legally binding but assists employers to comply with the relevant legal rules, recommends that employers:

• Explain to the candidate what information will be verified and how
• Obtain the candidate's consent to the verification process
• Allow the candidate an opportunity to explain if any discrepancies arise.

To read more on this and other stories, click here.

Companies that become more resource efficient save money because they make more product whilst using less materials, utilities and effort. This FREE Envirowise Good Practice Guide provides training materials to help plastics processing companies implement a resource efficiency programme. The guide comes with a CD-ROM containing four workbooks designed for training directors, managers, supervisors and operators about resource efficiency. An additional information manual is also provided on the CD. The slide presentations which accompany the workbooks are provided as Microsoft PowerPoint 97 files and as PDF files, for trainers who wish to prepare overheads.

For more information, please click here
 

Dimensions is a bimonthly newsletter provides information, analysis and comment on emerging risks, risk management, insurance and human capital issues.

Amongst other stories, the most recent version of Dimensions covers the value of a broker, what makes a good risk manager and complying with new regulation.

Click here to read stories in full.

A new BPF series of ready guides to practitioners in the plastics industry. Focus: IMSM in conjunction with www.plasticsacquisitions.com .

1. Building
You may have a building to rent or sell. If you wish to include this in the sale or make the sale of the building an option, you will need an up-to-date valuation. If, as is increasingly the case, your business may be relocated after sale, don't forget to mention to your neighbours that your building may soon become available. You may well have a good tenant or purchaser right next door to you and this will save you the cost of an Estate Agent's fee.

2. Fixed Assets
Fixed Assets include things such as machinery, ancillary equipment etc. You may however wish to retain some of them, such as your company car, perhaps a computer or some office furniture. If so you need to list those items or delete them from the asset schedule you provide.

3. Stock and Work In Progress
Your future buyer will not want to buy obsolete stock or raw material and so it is a good idea to spring-clean and de-clutter your operation to make your business look attractive. Because the value of the above will change daily it is often better to agree a value for raw material and stock that is acceptable to both parties.

4. Debtor - Creditor List
Increasingly, buyers are suggesting that, instead of funding the purchase of the debtor book, the parties agree a date and that all sales and purchases are taken over. This means that the buyer does not have to fund the book and this can simplify and speed the sale.

5. Goodwill
Whilst the earlier items are relatively simple to price, the goodwill is the item that needs the most thought. There are almost as many ideas on how to value goodwill as there are businesses, and your business may be the exception to the rule, but as a rough guide, a buyer may pay three or four times the net profit (the PBIT or profit before tax) for a thriving, profitable business and perhaps the equivalent of two years profit for a static but stable business. If the business is in rapid decline the profit multiple may be as low as one year. If the business is making a loss, the buyer will usually want to check the margins on individual parts and contracts in order to see if they can run the work profitably.  Typically, the purchaser will want to achieve a payback in a period of between three to five years.

For more information, please go to: www.plasticsacquisitions.com .