A new name, restoration of the share price and an invigorated commercial identity emerged this week at the company formerly known as World Fluids, possibly one of the most unedifying company brass name plates. World Fluids, once a hollow "shell" has been restructured with two takeovers in the UK, the acquisition of Peterhead, a mobile crane operator in Scotland and Birchwood Services, a fork-lift truck dealership.

World Fluids, with its shares listed on the Irish market, has now changed its name to the Peterhead Group.

Peterhead now becomes the group's main asset, the company expected to produce around £2 million in pre-tax profits next year. Chief executive David Symon says that other purchases are under consideration and that the company would also be evaluating acquisitions in Ireland.