Instead, around 35 employees decided to set up their own communications group, Citigate, which itself went on to acquire several subsidiaries encompassing advertising and design.

Since 1997, Terra has acquired subsidiaries to perform a larger and larger sprectre of products.

Mr. Lackritz said several securities firms are considering acquiring or opening subsidiaries in Mexico.

As the organization has grown, it has acquired numerous subsidiaries in order to increase its size and funding.

The Federal Reserve Board proposed a rule today that would impose tighter restrictions on the ability of state-chartered banks to acquire non-banking subsidiaries.

In the last two years, the company, which is traded over the counter, acquired subsidiaries that serve the replacement parts market and is concentrating on product niches.

Over the years it has also gone on to acquire Morningstar Farms and Kashi divisions or subsidiaries.

It focused increasingly on private customers via its network of branches and by acquiring specialised subsidiaries.

Many large companies acquire overseas subsidiaries and others build up their overseas interests internally from retained earnings and local borrowings.

In announcing the change in policy, Customs have defined a holding company's basic activities as including 'acquiring subsidiaries, mounting or defending against take-overs etc'.