Melrose sales up 12 per cent

British manufacturing buyout firm Melrose, which recently walked away from a bid for toolmaker Charter International, said its sales for the third quarter rose 12 per cent on higher orders. Melrose, which had circled Charter for months only to be beaten by a higher offer from US company Colfax, said slower growth in Europe was being offset by strength in its businesses in North America and rest of the world.