7th Sep 2015 06:54
LONDON (Alliance News) - Door and window components supplier Tyman PLC on Monday said its ERA unit in the UK and Ireland has sold its steel reinforcer business to Arc Specialist Engineering Ltd for GBP7.3 million in cash.
Tyman said the sale of the unit is in line with its plan to focus on high-value-added components for the door and window industry and said the assets it has sold are non-core.
The company said it will retain the proceeds from the disposal and use the money for general corporate purposes.
"We are pleased to have completed the disposal of EWS, in line with our strategy of focusing on our portfolio of value added door and window components. We continue to invest in new products, refining our geographic footprint and targeting selective acquisitions to develop the Group," said Louis Eperjesi, Tyman's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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