Trafalgar in GBP600m deal

TRAFALGAR House has been named by Samsung Co as developer of its GBP600 million (about HK$7 billion) manufacturing complex at Wynyard in Britain.

A contract has yet to be signed between the companies but Chan Bae, Samsung Electronic's UK British manager, said: 'We are looking forward to working closely with Trafalgar House over the next few years.' The complex is expected to provide 3,000 jobs by the end of the decade and will produce consumer goods such as PC monitors and microwave ovens, the Financial Times reports.

Samsung has predicted that in two or three years, labour costs in Britain will be cheaper than in South Korea.