Compass gets Chevron deal

CATERING giant Compass has served up the industry's biggest contract with a deal to feed staff working for energy firm ChevronTexaco. The group said the ten-year agreement for its subsidiary Eurest Support Services would initially be worth £138.1m a year. Eurest will begin by assuming control of four food facilities preparing more than 10,000 meals a day at Tengiz Field in Kazakhstan. Chevron-Texaco, based in San Francisco, is the second largest US energy company and employs about 53,000 staff in 180 countries.

SALES SURGE: Italian fashion house Armani saw sales top £700m last year, as shoppers splashed out on clothes and accessories. The design and retail empire founded by Giorgio Armani designs, manufactures, licenses and sells clothes and products such as watches, sunglasses and perfumes. Armani said that net revenues across the group had grown by 23 per cent in 2001 to £782.4m

RESTAURANT SALE: A Teesside restaurant is up for sale. Eliano's Brasserie on the edge of Middlesbrough town centre is on the market for £125,000. Agent Christie & Co, of Newcastle, is confident of selling the 50-seater eating house, which presently offers a Mediterranean menu.

NEW CHAIR: Ram Energy, a Sunderland environmental technology company, has announced the appointment of Lord Fraser of Carmyllie QC as its chairman. Previously the Minister for Energy and the Sponsor Minister for the North-East, he fills a number of senior positions in the energy sector including being on the UK Board of TotalFinaElf