READING, Pa.–(BUSINESS WIRE)–June 3, 1997–Carpenter Technology Corp. (NYSE:CRS), which continues to grow by branching out into advanced materials, announced Tuesday that it intended to acquire the structural ceramic component and powder business of publicly-held ICI Australia Ltd. ICIAC encompasses four operating units: ICI Ceramics Inc., in Auburn, Calif., which serves as the headquarters for ICIAC; the ICI Ceramics Division of ICI Australia, in Monash, Australia; Z-Tech Corp., in Bow, N.H.; and ICI Ceramics, Ltd., a European sales organization. ICIAC employs about 200 people and is expected to be profitable on sales of about $21 million in its fiscal year ending Sept. 30. “ICIAC gives us a greater market presence in structural ceramics, as well as access to the best fine grain zirconia technology that exists today,” said Dr. Nicholas F. Fiore, senior vice president - Engineered Products Group.
Jus Cafe, the company behind the concept, is raising pounds 1.25m through a private placing arranged by Arthur Andersen, and hopes to open five outlets in London within the next 12 months. Juice cafes have become a familiar sight in the US, Canada and Australia, and Mr Howard believes they can catch on in Britain too. “You are what you eat and people are becoming more aware of that,” he says. “We have advanced the traditional approach to juice blends to a range that suits the modern palate, with combinations of flavours that work.” Other backers of Jus Cafe include the corporate financier james Longley, who will act as chief financial officer, Dermot Verscholye, a former partner in the property group Hamptons International, and another top chef, Adam Byatt. The managing director is Julian Dyer. If the Jus Cafe concept succeeds, then the plan is to float the business in 18 months time.
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