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Morning news summary: GKN, Vedanta Resources, UNITE Group, ReNeuron, Phoenix IT

GKN (LON:GKN) has appointed Tufan Erginbilgic as an independent non-executive director with effect from 9 May 2011.

Vedanta Resources (LON:VED) said that mined metal production at Zinc-India was a record 231,000 tonnes in Q4 and 840,000 tonnes for the full year to 31 March 2011, 19% and 9% higher than the corresponding prior periods, due to higher contributions from Rampura Agucha and Sindesar Khurd mines.

UNITE Group (LON:UTG) said that the estimated net asset value (NAV) of the UNITE UK Student Accommodation Fund was £0.822 per unit at 31 March 2011, reflecting an increase of 1.7% during the first quarter of 2011.

ReNeuron (LON:RENE) announced the expansion of its contract manufacturing arrangements in the UK by signing an agreement with NHS Blood and Transplant (NHSBT) to develop and manufacture its CTXcryo stem cell product to clinical and commercial grade standards.

Ruukki Group (LON:RKKI) has completed the sale of its Finnish pallet business, Oplax Oy, to Pallet Invest Oy, a company founded by a group of Finnish and Russian investors. Oplax Oy produces 1.5 million wooden loading pallets per year. Revenue in 2010 was €11.2 million.

Phoenix IT (LON:PNX) released a trading update for the year to 31 March 2011, saying that revenues and underlying profit before tax for the year were in line with the board's expectations.