FAIREY GROUP - BTG SEVERE SERVICE

Fairey Group - BTG severe service is supplies high performance turbine bypass systems for steam and water applications in power and process plants. BTG's manufacturing facilities are located in Sweden and it has sales and service locations in more than a dozen countries worldwide. BTG employs 184 people and in the year ended 31 December 2000 unaudited sales and operating profits were £21 million and £1.7 million respectively.