30th Jul 2014 08:24
LONDON (Alliance News) - Vp PLC Wednesday said it will acquire the trackside plant and equipment rental businesses of Balfour Beatty Rail Limited, a subsidiary of Balfour Beatty PLC, for GBP5.5 million.
The assets will be integrated into the equipment rental firm's Torrent Trackside specialist rail unit. The deal also includes a five-year framework agreement for trackside plant and equipment hire to Balfour Beatty Rail in the UK.
"This transaction further strengthens our business relationship with Balfour Beatty and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector," said Vp Chief Executive Jeremy Pilkington.
Vp shares were up 0.2% to 654.00 pence early on Tuesday, while FTSE 250 constituent Balfour Beatty's shares were down 0.4% to 250.40 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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