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"Moderating the ratings are challenges faced by ETB's family business, where revenue from credit and group products have not grown much since FY Dec 2012.
Xchanging said it would use the funds raised via the divestment to repay bank debt and invest in growth of its businesses.Country: GermanySector: Banking/Financial ServicesTarget: Xchanging etb GmbH , Xchanging Transaction Bank GmbHBuyer: Deutsche Bank AG Vendor: Xchanging plc Deal size in USD: 52.4mType: DivestmentStatus: Agreed
Work is on schedule for VECV's Medium Duty Engine Project and the new paint-shop at ETB. Earlier this week, we also announced a new Eicher bus manufacturing plant near Indore at Dhar, Madhya Pradesh.
The move will allow ETB to carry out its recapitalisation before the deadline set by the country's central bank.
The ETB's report, based on the independent analysis of the Research Assessment Exercise, reveals that between 58% and 71% of the research and development taking place in UK university engineering departments is rated as 'world leading' or 'internationally excellent', with the highest scores being obtained in Chemical and Civil Engineering.
The panel members will meet once a year to discuss and implement matters of common interest to the institutions and advise the ETB on the development of the engineering profession.
Paul Jackson, Chief Executive of the ETB, said: "Engineering is an exciting, rewarding and varied career which offers a fantastic range of opportunities at all levels.
Sir Anthony Cleaver, chairman of the ETB, welcomed Jackson's appointment: "I am delighted that Paul is taking up the post of chief executive.
Tony Plews, the ETB's engineering campaign manager in Wales, said: "Further education is set to play an increasingly important role in engineering education, through the 14 to 19 Learning Pathways and Welsh Baccalaureates.
Technology like voice-over-Internet--the growth behind industry giants such as Spain's Telefonica Moviles and America Movil, controlled by Mexican billionaire Carlos Slim, and growth of the wireless industry itself--had put ETB between a rock and a hard place.
Following recent research commissioned by ETB on how to build the future stock of top quality engineers, ETB continues to gain support from business, industry, education and Government for its new plans.