/raid1/www/Hosts/bankrupt/TCREUR_Public/020830.mbx             T R O U B L E D   C O M P A N Y   R E P O R T E R

                             E U R O P E

                 Friday, August 30, 2002, Vol. 3, No. 172


                              Headlines

* F R A N C E *

ALCATEL: Shanghai Bell Wins Routing Server Contract in China
ALCATEL: Optimizes Costs, Footprint and On-board Integration Time
NORTEL NETWORKS: Moody's Puts Long Term Debt Ratings on Review

* G E R M A N Y *

CALLAHAN NRW: News Corp Eyes Major Holdings in German Cable Group
INTERSHOP COMMUNICATIONS: Develops Joint Mobile Commerce Solution
KIRCHGRUPPE: Premiere Signs Milestone Deal with Universal  
PHILIPP HOLZMANN: Favors Balfour Beatty as Bidder for JA Jones

* P O L A N D *

BANK PEKAO: Sells Costa Container Lines to Stocznia
ELEKTRIM: Receives Notice of Probe on Alleged Insider Trading

* S P A I N *

JAZZTEL PLC: Confirms Fiber Optic Lease Agreements

* S W E D E N *

SONG NETWORKS: Secures SEK7 MM Contract From Fritidsresgruppen

* U N I T E D   K I N G D O M *

BALDWINS INDUSTRIAL: U.S. Units File for Chapter 11 Protection
BALDWINS INDUSTRIAL: Voluntary Chapter 11 Case Summary
BALDWINS INDUSTRIAL: Company Profile
BALDWINS LEASING: Voluntary Chapter 11 Case Summary
COOKSON GROUP: Manufacturer Takes up 91.6% at Rights Issue  
ENERGIS PLC: Notifies Schedule of Creditors' Meeting  
ITV DIGITAL: Asset Sale of Pay-TV Group Begins September 4
ROYAL DOULTON: Reveals Interim Results for 2002 With GBP8MM Loss


===========
F R A N C E
===========


ALCATEL: Shanghai Bell Wins Routing Server Contract in China
------------------------------------------------------------
Alcatel recently announced that its Alcatel 5021 Advanced Routing
Server (previously known as IPway  9100) has been selected by
China Unicom to optimize the operator's existing  VoIP network.
The contract was won through Alcatel Shanghai Bell, the leading
telecom supplier in China.

With the combination of the Alcatel 5021 Advanced Routing Server
(ARS)'s powerful call control features, flexible policy-based
routing functions and advanced digit manipulation capabilities,  
China Unicom will be able to offer new advanced services on top
of their existing Voice over IP network.

Dirk  Bailliere, Alcatel's vice president voice network
activities for Asia Pacific, said, "Thanks to our comprehensive
NGN product portfolio, we strongly believe that this first NGN
related contract with China Unicom will enable us to become one
of the operator's main partners in their move towards next
generation network."

The Alcatel 5021 ARS had already been successfully deployed in
Asia Pacific operators' networks such as Singapore
Telecommunications (SingTel) and China Netcom.

Alcatel Shanghai Bell (http://www.alcatel-sbell.com.cn)is the  
first foreign-invested company limited by shares in the
telecommunications sector in China, with Alcatel holding 50%+1
shares and Chinese shareholders holding the remainder.   

The multibillion-dollar telecom technology leader delivers end-
to-end telecommunications solutions and high-quality services,
covering the fixed, mobile networking, broadband access,
intelligent optical networking, multimedia solutions and network
applications.   

It also has a key international R&D center with full access to
Alcatel's global technology pool, developing original technology
for use in China and export to Alcatel's customers worldwide.  

With 6,500 employees, an advanced manufacturing center, and the
most extensive sales and support network in China, it is the only
company capable of meeting the global needs of Chinese  
customers.  
  
Alcatel (http://www.alcatel.com/)designs, develops and builds  
innovative and competitive communications networks, enabling
carriers, service providers and enterprises to deliver any type
of content, such as voice, data and multimedia, to any type of
consumer, anywhere in the world.  

Relying on its leading and comprehensive products and solutions
portfolio, stretching from end-to-end optical infrastructures,
fixed and mobile networks to broadband access, Alcatel's
customers can focus on optimizing their service offerings and
revenue streams. With sales of EURO 25 billion in 2001 and 99,000
employees, Alcatel operates in more than 130 countries.


ALCATEL: Optimizes Costs, Footprint and On-board Integration Time
-----------------------------------------------------------------
Alcatel Optronics (www.alcatel.com/optronics), a world leader in
opto-electronic components for telecommunications systems, has
extended its compact optical amplifier range with the first dual
booster amplifier, the Alcatel 1926 MAM.

Dedicated to optical cross-connects, metropolitan and access
links, this new high performance subsystem contains two single-
channel Erbium-doped fiber amplifiers (EDFAs) in one single
package  (100 x 90 x 12.7 mm3), yielding a 30% footprint
reduction compared to two compact EDFAs.  It improves equipment
density and integration time at the system level, while reducing
manufacturing and operating costs.

In today's market, system manufacturers need to offer optimized
systems in terms of size and cost to their customers-operators.
Because optical cross-connects, metropolitan rings and access
networks use amplifiers more and more often, Alcatel Optronics
offers the integration of several discrete EDFAs  (2, 4, 6, or 8)
in one single package, to save space and cost and to simplify on-
board assembly.  These multi-EDFAs are usable wherever port
density is critical.

"With this first-to-market dual amplifier, Alcatel Optronics is
moving ahead in multi-function integration, responding to
customer size and cost reduction requirements," explained
Philippe Bregi, Chief Operating Officer of Alcatel Optronics.
"The solution we offer today specifically addresses system
architectures with a high concentration of discrete EDFAs. These
modular, easy to use and high performance multi-EDFAs contribute
to reduce the total cost of ownership."

The dual Erbium-doped fiber amplifier Alcatel 1926 MAM is
available in a configuration able to reach  +17 dBm (50 mW)
optical output power in the C-band  (1530-1565 nm). Although the
2 EDFAs are in the same package, each EDFA function is
independent, each one using an internal 980 nm pump module.  
These in-house manufactured pump modules maintain the amplifier's
low optical noise figure, typically < 5 dB for an optical input
power of -6 dBm.  Its low electrical consumption, less than 9
watts typically, is particularly attractive to system
manufacturers. Moreover, the Alcatel 1926 MAM improves fiber
management by arranging all fiber pigtails on the same side of
the package. Customized versions are available to further reduce
integration time at the system level.

In September 1999, Alcatel Optronics introduced the first compact
optical booster amplifier featuring reduced size and power
consumption.  In addition, a compact pre-amplifier was launched
in December 2000 and an advanced + 18 dBm booster amplifier
enlarged the product family in July 2001.

Alcatel Optronics designs, manufactures and sells high
performance optical components, modules and integrated sub-
systems for use in terrestrial and submarine optical
telecommunications networks. Operating state-of-the-art
manufacturing plants in North America and Europe, Alcatel
Optronics is a leading supplier of DWDM lasers, photodetectors,
optical amplifiers, high-speed interface modules and key passive  
devices such as arrayed waveguide multiplexers and Fiber Bragg
Grating filters.  

It also has experience in integrating active and passive
components and modules into sub-systems. The Optronics Division
is part of Alcatel's Optics Group which comprises Alcatel's
world-leading activities in optical networking, including  
submarine and terrestrial transmission systems, fiber optics and
optical components.  


NORTEL NETWORKS: Moody's Puts Long Term Debt Ratings on Review
--------------------------------------------------------------
Moody's Investors Service recently put Nortel Networks' long term
and preferred stock ratings on review for possible downgrade, a
report from the rating agency says.

The review came after Nortel announced that 3rd quarter revenues
would be up to 10% below those recorded in the 2nd quarter.
Moreover, the company has announced a headcount reduction to
35,000 from its current target of 42,000 and related facilities
closures. The headcount reduction is expected to result in
additional cash charges, although Nortel does not expect to
utilize its currently undrawn bank facilities to fund these
actions.

Moody's says the "capital spending in the telecommunications
industry has declined precipitously over the past two years,
initially in the emerging carrier segment, but has now expanded
to the incumbent carriers."

Furthermore, Moody's expects "this condition to continue going
forward creating continued weakness in Nortel's end markets.
While recognizing the company's strong cost cutting efforts to
date, its announcement yesterday is evidence that further cost
cutting is necessary in an attempt to achieve a cost structure
that allows the company to return to profitability."

Moody's also notes, "the company has been successful in managing
its working capital and has also recently issued $1.48 billion in
equity units and common stock. This has substantially offset the
operating losses, while limiting the need to issue new debt and
while also negating company's need to rely on significant asset
sales. At the end of Q2'2002, the company's net debt was
effectively zero, although we expect the company to use cash
near-term to execute its latest restructuring."

Moody's says that the rating review will focus on the ability of
Nortel to:
i) successfully reduce its cost structure,
ii) contain cash outflows and
iii) iii) market its product offerings in a challenging
environment and develop greater visibility in terms of
future revenue levels.

The following ratings have been placed on review for possible
downgrade:

Nortel Networks Limited
Senior debt, Ba3
Preferred stock, B3
Nortel Networks Capital Corporation (Guaranteed by Nortel
Networks Limited)
Senior debt, Ba3
Senior shelf, (P)Ba3
Nortel Networks Corporation (Guaranteed by Nortel Networks
Limited)
Senior debt, Ba3

Nortel Networks Limited, incorporated under Canadian law and
headquartered in Brampton, Ontario, is a global leader in
networking and communications solutions and infrastructure for
service providers and corporations.


=============
G E R M A N Y
=============


CALLAHAN NRW: News Corp Eyes Major Holdings in German Cable Group
-----------------------------------------------------------------
Insolvent cable company Callahan Nordrhein Westphalia GmbH is in
talks with U.S.-based News Corp regarding the acquisition of a
majority holding in the cable company, a report from AFX News
says.

But sources said that Callahan Associates of the US, which holds
a 55% stake in Callahan NRW, has brought in News Corp merely in
order to put pressure on Liberty Media Corp, which is rumored to
have made an offer for a majority stake well below what Callahan
hoped to generate from the sale, the news outfit reports.

Callahan Associates and Deutsche Telekom owns 55% and 45% of
Callahan NRW respectively. Deutsche Telekom sold Callahan the 55%
stake two years ago. Callahan can exercise a call option on
Telekom's stake from 2004, AFX says.

Callahan NRW is the holding company for the regional cable
companies Ish in the state of North-Rhine Westphalia, and Kabel
BW, in the state of Baden-Wuerttemberg. It filed for insolvency
in July.

In addition, Liberty Media's interest in Callahan was ruined in
February after the Greman cartel office blocked its bid to
acquire Deutsche Telekom's six remaining regional cable
businesses, AFX says.


INTERSHOP COMMUNICATIONS: Develops Joint Mobile Commerce Solution
-----------------------------------------------------------------
Intershop Communications (http://www.intershop.com),an  
established provider of e-commerce solutions for global
enterprises, and CMG Germany recently agreed to work together on
mobile content management solutions.

The extension of the existing Intershop Enfinity products to
mobile devices enables commerce applications to display product
information and pictures, animations or video clips directly on
mobile phones. The extension also offers instant ordering. The
new solutions from Intershop and CMG open new opportunities for
enterprises to flexibly enter new sales channels.

Enfinity is an enterprise software package from Intershop for the
sale and purchase of goods and services over electronic
marketplaces. The strategic alliance between the systems and
consultancy group CMG and Intershop will extend existing
solutions for selling products via electronic marketplaces to
include support for mobile applications. With MMS (Multimedia
Messaging Service), an enhanced version of SMS, users will be
able to send and receive color images, animation and video clips
as well as text messages using mobile devices. The complete
solution developed by CMG and Intershop will offer industry-
specific applications based on Intershop's e-business modules and
its Enfinity Content Management Solution. These will then be
linked to CMG's e/m-business suite.

The connection between the Enfinity solutions and CMG's mobile
software is ideal for customers focusing on mobile commerce as a
marketing strategy. "CMG offers a platform supporting the
complete range of technologies like SMS, MMS, WAP, E-Mail or I-
Mode supported by nearly all providers in Germany," Thomas
Lerner, Leader of the Mobile Business Competence Center for CMG.

Enfinity, the successful e-commerce software solution from
Intershop, is at the heart of the successful Internet strategies
implemented by leading players such as Otto, Quelle, Bertelsmann,
Hewlett-Packard, Volkswagen and BMW.

Intershop Communications is a leading provider of e-commerce
solutions for enterprises who want to automate marketing,
procurement, and sales using Internet technology. The Intershop
Enfinity commerce platform, combined with proven, flexible
industry and cross-industry solutions, enables companies to
manage multiple business units from a single com-merce platform,
optimize their business relationships, improve business
efficiencies and cut costs to increase profit margins.

By streamlining business processes, companies can achieve a
higher return on investment at a lower total cost of ownership,
increasing the lifetime value of customers and partners.


KIRCHGRUPPE: Premiere Signs Milestone Deal with Universal  
---------------------------------------------------------
German media empire Kirch Group no longer fears insolvency now
that it has signed a contract with Universal Studios granting
Premiere the long-term broadcasting rights to the studio's
cinema, movies, and TV production, a report from Interspace and
PBI Media says.  

Kirch's managing director Georg Koffler notes that, "the closing
of the deal with Universal marks the breakthrough in our
renegotiations with the Hollywood studios." He also says that
after Fox and Dreamworks, Universal is so far the third Hollywood
studio to have signed revised deal with the company, the report
says.

The past contracts contained unfavorable conditions for Premiere
and were considered one of the major causes of its financial
woes. It was when Mr. Kofler took over the reins of managing
director that the contracts were then renegotiated and revised,
the report adds.

It is said that Premiere had spent large amount of money for the
airing pf the movies that financial breakeven seemed
unobtainable. Mr. Kofler said similar negotiations are underway
with other Hollywood studios, the report says.

The completion of the agreement with Universal further secures
the continuation of the US-based company's own channels Studio
Universal and 13th Street on the Premiere platform, the report
adds.

A hunt for new shareholders for the pay-TV broadcaster continues.
Morgan Stanley, the search's organizer, said invitations have
been sent to around 20 interested parties. The responses are
expected by the end of August, the report says.


PHILIPP HOLZMANN: Favors Balfour Beatty as Bidder for JA Jones
--------------------------------------------------------------
Balfour Beatty Plc is currently in talks with Philipp Holzmann's
insolvency administrator Ottmar Herrman, over the acquisition of
JA Jones, the insolvent German construction company's U.S.
operations, a report from AFX News says.

The report also says that Balfour is considered as the favored
bidder for JA Jones. It also cited that according to a JA Jones
spokesman, Mr. Herrmann's negotiations is currently limited to
European companies.

JA Jones's price tag is expected to be lower that the previously
estimated EUR500 million and might even be under EUR300-200
million, AFX reports.A completion of the deal is seen in the
subsequent four weeks.

Balfour Beatty declined to comment on the matter.

Insolvency administrator Herrmann disclosed that there is an
ongoing bidding process involving several companies. He however,
refused to name the companies involved and expressed his
confidence on finding a buyer for JA Jones by mid-September, AFX
reports.


===========
P O L A N D
===========


BANK PEKAO: Sells Costa Container Lines to Stocznia
---------------------------------------------------
Bank Pekao SA's management board announced that the bank sold to
Costa Container Lines SpA of Genoa the container ship
constituting collateral for the loan granted to Stocznia
Szczecinska, a press release from the company says.

The ship was repossessed from Stocznia pursuant to contractual
terms.

Earlier this week, the Troubled Company Reporter - Europe (TCR)
said that the international rating agency Fitch Ratings has
downgraded Bank Pekao's individual rating from 'C' to 'C/D'.

According to Fitch, the Long-term, Short-term and Support ratings
have been affirmed at 'BBB+', 'F2' and '2' respectively. The
outlook for the long-term ratings remained stable, the TCR said.

Fitch also said that the present negative macroeconomic
environment in Poland has materially affected Pekao's loan
portfolio quality. The bank reported a net loss for 2Q 2002,
caused by high loan loss provisions, the TCR reported.


ELEKTRIM: Receives Notice of Probe on Alleged Insider Trading
-------------------------------------------------------------
The Management Board of Elektrim S.A. announces that on August
27, 2002 the group was notified that, pursuant to the decision of
the Regional Prosecutor's Office in Warsaw dated August 14, 2002,
the investigation had been commenced concerning the use of
confidential information in the period from August 28, 2001 to
January 9, 2002 in public trading of securities relating to the
financial and economic status of Elektrim S.A. by entities
acquiring Elektrim's shares on the Stock Exchange, i.e. act under
art. 176 section 2 of the Law on Public Trading of Securities of
27 August 1997.

The investigation represents the continuation of the
investigation referred to in current report no 33/02.

Elektrim Spolka Akcyjna is a telecommunication services and power
equipment supplier based in Warszawa.


=========
S P A I N
=========


JAZZTEL PLC: Confirms Fiber Optic Lease Agreements
--------------------------------------------------
In relation with the information spread in the media, JAZZTEL Plc
wishes to confirm that its subsidiary JAZZ TELECOM, S.A.U. has
recently executed head of terms with RENFE and Uni2 to replace
its backbone network.

Pursuant to these head of terms, JAZZ TELECOM, S.A.U. and RENFE
would terminate the fiber optic lease agreements executed by both
parties, which JAZZ TELECOM, S.A. would replace by fiber optic
subleased to Uni2.

The agreements are subject to several condition precedents,
including the execution of final documentation by the parties and
the accomplishment of the current restructuring process of its
high yield bonds that it is expected to be concluded during the
fourth quarter of this year.

JAZZTEL wishes to clarify that the foregoing head of terms are
included in the Company's cost reduction plan and have no
connection with the conversations maintained in the past by
JAZZTEL and FRANCE TELECOM in relation with a possible
transaction between JAZZTEL and Uni2.


===========
S W E D E N
===========


SONG NETWORKS: Secures SEK7 MM Contract From Fritidsresgruppen
--------------------------------------------------------------
Swedish travel group Fritidsresegruppen has selected Song
Networks AB (http://www.songnetworks.net),the Swedish subsidiary  
of Song Networks Holding AB, to supply data capacity.  

The contract runs for 3 years and is valued at around SEK 7
million. Fritidsresegruppen is migrating to Song Network's
communication solution, and in Song Network's IP/VPN service (a
network in Song Network's own backbone and access network) it is
acquiring a fixed connection between around 45 locations in the
Nordic countries.

The complete undertaking of the solution means that in addition
to more capacity and availability Fritidsresegruppen is getting a
high level of security in its data communication.

In addition to the requirements for greater capacity and
availability and a high level of security, Fritidsresegruppen
wanted a supplier, which was able to provide a complete
undertaking. Fritidsresegruppen also wished to reduce the number
of servers - there used to be one communication server per
office, which meant expenses for hardware, programs and support.

The new, more direct communication solution provides a better and
simpler structure with fewer points to troubleshoot. The new
solution is easier to administrate and expand when more capacity
is needed and new services are introduced. Overall this means a
more flexible and cost-effective solution is now being acquired.

"One in three journeys sold is now booked via the Internet.
Communication between Fritidsresegruppen's offices and between
the company and its customers is greatly increasing, thus a
modern communication solution is one of the most important tools
for a modern travel operator. With the Song Networks solution we
are now acquiring a high quality and cost-effective Nordic
communication solution. As traffic increases and new services are
introduced we can now simply increase the capacity, and at the
same time we are getting simpler administration," says Mats O.
Eklund, Fritidsresegruppen's IT Director.

"The contract was preceded by a thorough assessment to which all
the major operators were invited. In the assessment
Fritidsresegruppen found our solution to be the best in every
respect. The major investment we have made in our own backbone
and access network in the Nordic countries is once again proving
to have been a good investment for our customers," says Mats
Almgren, Song Networks AB's sales director.

   Contact Information:

   Jenny Moquist
   Manager
   Investor Relation
   Telephone: +46 8 5631 0219
   Mobile: +46 701 810 219
   E-mail: jenny.moquist@songnetworks.net


===========================
U N I T E D   K I N G D O M
===========================


BALDWINS INDUSTRIAL: U.S. Units File for Chapter 11 Protection
--------------------------------------------------------------
Baldwins International Services Plc's U.S. units, Baldwins
Industrial Services Inc. and Baldwins Leasing LP recently filed
for Chapter 11 protection with the U.S. Bankruptcy Court for the
Southern District of Texas, a report from the Deal says.

Parent company Baldwins' managing director Rick Barnett disclosed
that it has pledged certain leases worth GBP10.84 million, which
form most of the liabilities for the two U.S. units, the news
outfit reports.

Baldwins, a U.K.-based crane rental and services company, had
bought Baldwins Industrial Services in 1999 when it was a
privately held Houston company called Phillips Crane and Rigging.

The U.S. unit's performance has been bad for some time, according
to the parent company, the news outfit says.  

Both of the units have hired Jack M. Partain Jr. of Fulbright &
Jaworski as counsel.

The plans of the parent company concerning the U.S. units are a
reorganization of the units under Chapter 11 protection or a sale
of the subsidiaries. But the company has not yet disclosed which
of these plans it will pursue. Both units will not require
debtor-in-possession financing at the moment, the Deal adds.


BALDWINS INDUSTRIAL: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Baldwins Industrial Services Inc
        925 South Loop West
        Houston, TX 77054
        dba Phillips Crane & Rigging

Bankruptcy Case No.: 02-39582

Debtor affiliates filing separate chapter 11 petitions:

Entity                                     Case No.
------                                     --------
Baldwins Leasing LP                        02-39583

Chapter 11 Petition Date: August 26, 2002

Court: Southern District of Texas (Houston)

Judge: William R. Greendyke

Debtors' Counsel: Jack M. Partain, Jr, Esq.
                  Fulbright & Jaworksi
                  300 Convent Street
                  Suite 2200
                  San Antonio, TX 78205
                  210-224-5575

Estimated Assets: $1 to $10 Million

Estimated Debts: $10 to $50 Million


BALDWINS INDUSTRIAL: Company Profile
------------------------------------
Name:          Baldwins Industrial Services PLC
               Churchill House
               1 London Road, Slough
               Berkshire
               SL3 7RL United Kingdom

Tel:           (01753) 512 100
Fax:           (01753) 512 402
E-mail:        head.office@baldwins-cranes.co.uk     
Website:       http://www.baldwinsplc.co.uk/

SIC:           Industrial Leasing Services
Employees:     983
Net Loss:      GBP23.4 million/US$36.0 million (March 2002)
Total Assets:  GBP142.0 million/US$218.3 million (March 2002)  
Total Liabilities: GBP117.3 million/US$180.4 million (March 2002)

Type of Business:  

Baldwins Industrial Services PLC is a crane leasing service
business, which offers complete lifting solutions to various
industrial sectors on a global scale.

Baldwins provides U.K. nation-wide coverage via a network of
regional depots strategically located to maximize operating
effectiveness and provide the highest quality of service to
customers.

Baldwins' fleet consists of approximately 250 mobile all-terrain
cranes, complimented by around 100 tower cranes from their Delta
Tower Crane subsidiary.

Other subsidiaries include Loadtite, suppliers of lifting
equipment and U.S. crane hire company Phillips Crane & Rigging.

Trigger Event:

Incurring GBP23.4 million/US$36.0 million in March 31, 2002,
Baldwins Industrial Services PLC announced that its US
subsidiaries, Baldwins Industrial Services Inc. (trading as
Phillips Crane and Rigging) and Baldwins Leasing L.P. filed
proceedings under Chapter 11 of the U.S. Bankruptcy Code on
August 26, 2002.

Baldwins' preliminary notice of results on July 26, 2002 revealed
that the performance of its US business has been unacceptable for
some time.

The Chapter 11 proceedings have been filed to enable the U.S.
business to reorganize or identify a potential buyer under the
protection of the Bankruptcy Court.

Major Shareholders:      S V Baldwin 17.81%
                         Sandra H Baldwin 12.14%
                         Deutsche Asset Mgmt 5.75%
                         Jupiter Asset Mgmt 4.69%
                         R J Baldwin 26.50%
                         W R Baldwin 6.67%

Total No. of Shares in Issue: 31.31 million 50p ordinary shares  

Chief Executive Officer: R J Baldwin  
Managing Director:       R J Barnett  
Finance Director:        A F Somerville

Bankers:                 HSBC Bank PLC
Financial Advisers:      ING Barings Ltd
Stockbrokers:            ING Barings Ltd
Auditors:                KPMG
Law Firms:               Hammond Suddards Edge  
Financial PR Advisers:   Binns & Co Public Relations Ltd    


BALDWINS LEASING: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Baldwins Leasing LP
        925 South Loop West
        Houston, TX 77054

Bankruptcy Case No.: 02-39583

Debtor affiliates filing separate chapter 11 petitions:

Entity                                     Case No.
------                                     --------
Baldwins Industrial Services Inc.          02-39582

Chapter 11 Petition Date: August 26, 2002

Court: Southern District of Texas (Houston)

Judge: William R. Greendyke

Debtors' Counsel: Jack M. Partain, Jr, Esq.
                  Fulbright & Jaworksi
                  300 Convent Street
                  Suite 2200
                  San Antonio, TX 78205
                  210-224-5575

Estimated Assets: $10 to $50 Million

Estimated Debts: $10 to $50 Million


COOKSON GROUP: Manufacturer Takes up 91.6% at Rights Issue  
----------------------------------------------------------
The Board of Cookson recently announced that on August 28, 2002,
the last date for acceptance and payment in full for New Shares
under the terms of the Rights Issue, valid acceptances were
received for 1,065,705,484 New Shares representing approximately
91.6 % of the New Shares offered by way of rights.

A bookbuilt placing to procure subscribers for the remaining
98,386,100 New Shares at a price of not less than 25 pence per
share began August 29, 2002.


ENERGIS PLC: Notifies Schedule of Creditors' Meeting  
----------------------------------------------------
Insolvency Act 1986
Energis plc
(In Administration)

Notice is hereby given that a meeting of creditors of the above
named company will be held under the provisions of section 23 of
the Insolvency act 1986 at Cornwall Room, The New Connaught
Rooms, 61 - 65 Great Queen Street, London, WC2B 5DA on September
12, 2002 at 10.30am for the purpose mentioned in the act.

A secured creditor is entitled to vote only in the respect of the
balance (if any) of his debt after deducting the value of his
security as estimated by him.

Creditors who intend to vote at the meeting should note the
following:

(a) Written statements of claim must be lodged with the joint  
    administrators by 12 noon at the latest, on September 11,
    2002, the day before the meeting, for the attention of Y  
    Macka 9th Floor, Becket House, 1 Lambeth Place Road, London,
    SE1 7EU.

(b) Proxies for use at the meeting must also be lodged with the     
    Joint Administrators.

Please note that in accordance with Statement of Insolvency
Practice 9, the business of the meeting of creditors may include
a resolution specifying the terms on which the joint
administrators are to be remunerated. The Joint Administrators'
remuneration should be fixed by the creditors or the creditors'
committee either as a percentage of the assets realized or
distributed or by reference to the time the joint administrators
and their staff have spend dealing with this matter.

Notice is hereby given pursuant to section 23 (2) (B) of the
Insolvency Act 1986 that any member of the above named company
may write to Y Maka, Ernst & Young LLP, 9th Floor, Becket House, 1
Lambeth Palace Road, London, SE1 7EU if they wish to receive a
copy of the proposals of the Joint Administrators which is to be
considered at a meeting of the creditors to be held under the
provisions of the section on September 12, 2002.

MD Rollings
Joint Administrator
Date: August 12, 2002


ITV DIGITAL: Asset Sale of Pay-TV Group Begins September 4
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The insolvent pay-TV venture of Carlton Communications Plc and
Granada Plc, ITV Digital have its assets put up for sale next
month, said administrator Deloitte & Touche, a report from AFX
News says.

The administrator also said that after the sale of ITV would be
completed, the company would be set for liquidation in October,
the news outfit adds.

Administrator Nick Dargan said that the auction is set on
September 4 and 5 and signals the last phase of the ITV Digital
administration before it will be liquidated, AFX adds.

He further said: "We are currently taking steps in consultation
with the Creditors' Committee to place the company into
liquidation which we anticipate will take place in October."

"There have been substantial asset realizations to date and we
hope the sale proceeds of the auction will further enhance the
funds available for creditors generally," he added.

The ITV assets that would be offered in the auction include
contents of the company's digital broadcast center, head office
and disaster recovery facility, the news agency says.

Wyles Hardy & Co would manage the auction in conjunction with
DoveBid Inc.

Previously in May, the Troubled Company Reporter reported that
creditors owed millions of pounds were dismayed to learn that ITV
Digital only have GBP9 million left in the bank, while bills are
still mounting.

In a letter to creditors, administrator Nick Dargan said the
bankrupt digital-TV network has unpaid bills of about GBP296
million.  This includes GBP1.2 million so far racked up by
Deloitte & Touche since its appointment as administrator seven
weeks ago, the TCR added.

Lawyers hired by ITV Digital to defend it against the GBP500
million-lawsuit filed recently by the Football League have also
billed the network GBP650,000 in fees.  This is expected to go up
further as the case drags on, the TCR said.

The news was expected to appall BSkyB, the Football League and
transmission business Crown Castle, which are owed millions
following the collapse of the network.

Mr. Dargan said he would accelerated the sale of the company's
assets, as it appeared that the company does not have the cash to
maintain the administration proceeding for long, the TCR
reported.


ROYAL DOULTON: Reveals Interim Results for 2002 With GBP8MM Loss
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Highlights:

- Like for like sales down 6%
- Gross margin before exceptionals 41.3% (2001: 42.1%)
- Operating costs before exceptionals reduced by 11%
- Operating losses cut by 16% to GBP7.9m (2001: GBP9.4m)
- Loss before tax GBP7.7m (2001: GBP10.5m)
- Net debt at period end GBP15.0m, representing gearing of 29%

Group Chief Executive, Wayne Nutbeen commented:

'Market conditions remained tough in our sector in the first half
and the pressures on sales and margins from slower demand and
lower prices are unlikely to recede in the short term.  

Notwithstanding this environment, progress on the major package
of restructuring measures announced earlier this year continues
on plan, and we anticipate results for the year as a whole to be
in line with expectations.'

Interim Statement

In the six months to 30 June 2002, the Group made further
progress in restructuring its business, against a background of
continuing pressures from weak demand and lower prices.

Results

In the half year, sales overall totalled GBP69.7m, 15% down on
last year, and 6% lower on a like for like basis.  The difference
arose from the closure of retail outlets, the withdrawal from
certain sales channels, both announced earlier this year, and the
disposal of Caithness Glass last year.  

Continuing pressure on pricing resulted in a small reduction in
gross margin (before exceptionals) from 42.1% to 41.3%.  After
exceptionals, gross margin improved from 41.6% to 44.5%.

Costs continued to fall sharply, reflecting the benefit of
measures already taken. Operating expenses (before exceptionals)
fell by 11% to GBP38.5m.  The operating loss was reduced by 16%
to GBP7.9m.   

After crediting a profit on disposal of GBP1.0m and charging
interest and related items of GBP0.8m, the loss before taxation
was GBP7.7m, compared with GBP10.5m in the corresponding period
last year.

Progress on restructuring

During the period, the Group completed a rights issue which
raised GBP18.7m (net of costs) to fund further restructuring
measures announced earlier this year and completed agreements for
new banking facilities to 31 March 2005.

In the six months to 30 June, a total of 26 retail stores have
been closed, reducing the Group's total number of retail units to
373; the sale of surplus assets for total cash consideration of
GBP1.4m was completed; the closure of the Baddeley Green plant
was announced and is proceeding on schedule, as is the related
transfer of production to Nile Street and Jakarta; and the
purchase of a further 25% of Royal Doulton's Indonesian
subsidiary was completed, taking the
Group's holding to 95%.  Total headcount reduced from 4,700
employees at the end of last year to 4,200 at 30 June 2002.

The exceptional charges announced earlier this year of up to
GBP20m (primarily redundancies, retail closures and production
transfer overseas) are not now expected to exceed GBP18m (of
which GBP3m was charged in the year to December 31, 2001 and
GBP1.5m in the first half of the current financial year).  

Exceptional receipts from disposals are expected to generate
around GBP10m of  cash excluding first half receipts.

Financial Position

The financial position of the Group has been strengthened by the
reorganization of its finances earlier this year.

As at December 31, 2001, net debt stood at GBP24.3m and equity
shareholders funds GBP41.7m, representing balance sheet gearing
of 58%.  During the six months, cash losses from trading absorbed
GBP8.4m, working capital generated GBP0.4m, capital items net of
disposals absorbed GBP0.9m, interest exchange and other items
absorbed GBP0.5m and the rights issue generated GBP18.7m. As a
result, net debt was reduced by GBP9.3m.

As at June 30, 2002, net debt was GBP15m and equity shareholders
funds GBP52m, representing balance sheet gearing of 29%.

Outlook

The extent of this industry's manufacturing over-capacity in high
cost countries is highlighted more starkly in harsher market
conditions.  This will continue to cause the industry problems as
many players seek to fill uneconomic plants.

Consumer pressure on pricing will continue and globalisation and
deregulation of markets will accelerate this process.

Against this background, the Group remains on target to achieve
approximately one third of its production from its overseas
manufacturing facilities and approximately one third from third
party sources by end 2003, resulting in substantially reduced
product cost and overhead.

A copy of the group's income statement and balance sheet may be
viewed at: http://bankrupt.com/misc/royal.pdf


   Contact Information:

   Wayne Nutbeen         
   Group Chief Executive       
   Telephone: 01782 404040

   Geoff Martin          
   Group Finance Director      
   Telephone 01782 404040


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         S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Washington, DC USA. Kimberly MacAdam,
Larri-Nil Veloso, Maria Lourdes Reyes and Jean Claire Dy,
Editors.

Copyright 2002.  All rights reserved.  ISSN 1529-2754.

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