News

Shares in transport firm Autologic soared today after it entered into an option agreement granting Wallenius Lines the right to acquire the company's 40% shareholding in Global Automotive Logistics.

Wallenius has paid €10m, or £6.9m, for the grant of the option pursuant to the option agreement, with a further €10m in cash due to Autologic if the option is exercised.

Safety, health and sensor technology group Halma told shareholders at today's AGM it has generated healthy organic growth during the first quarter and is trading in line with expectations.

"This momentum in underlying organic growth across the group has continued and prospects for the current year remain positive," said chairman Geoff Unwin.

Latin American-based oil and gas production and exploration firm GeoPark has started its well workover programme in Argentina and Chile, it said in a statement today.

In conjunction with the programme, GeoPark has acquired a 50% ownership interest in a workover rig in order to secure the continuous availability of the required equipment.

Telecoms services, property development and construction firm Metnor improved on news it has agreed to buy 4.1 acres of land on the fringe of Newcastle city centre from Newcastle City Council.

This purchase consolidates a number of free hold and leasehold interests acquired by the group over the last nine months providing a development site which totals 7.5 acres of freehold title and cost £7.35m to assemble.

Australian agribusiness project management outfit Radicle Projects edged higher as it said it has paid A$2.1m in cash for a 70% interest in the BioForest Dual Income Project 2006.

The project is a Managed Investment Scheme promoted by BioForest Ltd, a 100% owned subsidiary of BioEnergy Australia.