Buko, based at Glenrothes in Fife, had suffered from poor trading, which affected profits.
The company, which supplied Asda and Safeway, also manufactured distribution roll containers and racking systems.
Buko at one time employed more than 400 staff, with markets in Europe and Asia, but in 2001 it went briefly into receivership before being bought out.
It was in the media spotlight last year for inventing a glow-in-the-dark shopping trolley aimed at improving car park safety.
Buko management has so far declined to comment on the pending closure.
Australia’s biggest grocery chain, Woolworths, has revealed a 21% increase in second-half profits. It said profits for the period had increased from A$290m a year ago to A$349.6m. Annual profits rose 15% from A$687.8m to A$790.5m.
Swiss chocolate maker Lindt & Sprüngli reported a profit for the first time in what is traditionally its weak first half of the year. Sales grew by 9% to £370m, while it recorded a profit of £2.1m compared with a loss of £750,000 for the same period in 2004.
US giant Kraft Foods - owner of brands such as Maxwell House and Kraft cheese - has increased its regular quarterly dividend by 12.5% to an annualised rate of 92 cents per share. CEO Roger Deromedi said: “This reflects confidence in our ability to grow cash flow and return value to shareholders.”
Turkish discounter BIM has reported a 15% increase in net sales for the six months to the end of June. In its first results since it floated on the Istanbul Stock Exchange in July, the group also said that operating profit rose by 11.6%. BIM’s chief operating officer, Jos Simons, said: “Our food retail market is growing strongly and within that the hard discount sub-sector has the fastest growth of all.”
US regulators have filed civil fraud charges against two former top executives of US retailer Kmart. The Securities & Exchange Commission alleges that ex-CEO Charles Conaway and ex-chief financial officer John McDonald had misled investors over a “reckless” purchase of goods worth $850m.
Tesco plans to open 15 to 20 new stores and create more than 2,000 jobs in Malaysia in the next five years. Tesco CEO for Malaysia, James McCann, said investment in each store would depend on location, floor area and stock holding. Tesco already operates eight outlets in Malaysia.
n OZ firm profit
n Sweet succesS
n DIVIDENDS UP
n Fraud charges