(adds reaction, amends spelling of CEO James Nicol's name) LONDON, Feb. 21, 2008 (Thomson Financial delivered by Newstex) -- Engineering group Tomkins reported a 7.3 pct rise in pretax profits of 262.6 mln stg for the year to Dec 29, after new products and a focus on emerging markets helped offset economic weakness in US car and construction markets. Sales from continuing operations were 2.94 bln stg, down from 3.13 bln in 2006, it said, and the adjusted operating margin was 9.0 pct against 9.4 pct the year before. Adjusted operating profits, which exclude disposals, fell 11 pct to 264.7 mln. Net debt was 296.8 mln stg, against 403.0 mln in 2006, and the company said it is considering a share buyback of 5-10 pct. CEO James Nicol said the group, which makes components for cars and air conditioning systems and building products such as baths and windows, delivered a good performance after taking a number of 'self-help' measures to counter headwinds in its US automotive and construction end-markets.

German company to open new plant in Syracuse suburb

SYRACUSE, N.Y. - Gov. Eliot Spitzer says a German company that makes compressors for industrial air conditioning and refrigeration equipment will open a new manufacturing facility in suburban Syracuse.

The governor says the Bitzer Scroll plant will employ nearly 300 people in high-end engineering and manufacturing jobs. The plant will open in a former General Motors factory in the town of Salina.

Bitzer officials promise to invest $30 million into the new facility over the next five years.

Manufacturing company moving into old GM plant (video)

The old General Motors plant in the Town of Salina is about to have some new life breathed into it. BITZER Scroll, an independent air conditioning and refrigeration company, will be moving into the plant. The move is expected to create around 300 engineering and manufacturing jobs. BITZER Scroll will use a 1.4 million dollar grant from the Empire State Development Corporation to invest in the plant. The company says it will invest 30 million dollars over the next five years. In a press release Governor Spitzer says that BITZER Scroll could have located anywhere in the world, but "the company chose Syracuse and Central New York because we demonstrated the value of our workforce and our knowledge-based resources. " He goes on to say that BITZER Scroll will be the cornerstone of upstate economic revitalization.

Freon leak prompts evacuation of Bell Helicopter plant

Hundreds of Bell Helicopter employees evacuated the engineering building in Hurst on Monday after an air-conditioning system component sprung a freon leak. About 500 pounds of R-22 refrigerant, an odorless, colorless and nontoxic gas, was released. Bell spokesman Mike Cox said the evacuation was orderly and no employees were injured.

HOUSTON -- Continental Airlines said Monday it will pay a record $158 million in profit sharing Thursday to employees, based on the carrier's 2007 results.

Voltas chases the overseas chill

Mumbai, Feb 5: Voltas Ltd, the Mumbai-based Rs 3,000-crore air-conditioning and engineering services company, is likely to bag a large overseas order that could be worth Rs 600-800 crore. The order from West Asia would be in the electro-mechanical segment and come before the end of the current fiscal, a source close to the development said. It is also learnt that the Tata group company is readying itself for bigger bets into special economic zone space for long-term contracts. M M Miyajiwala, executive vice president-finance, Voltas, said, "Bidding and bagging orders is a continuous process for us and I don't want comment anything on fresh orders at this stage."

He said that Voltas order book size has swelled to Rs3,500 crore, of which Rs2,700 crore are from overseas and Rs 800 crore from the domestic market.