1st Oct 2007 11:30
Carillion PLC01 October 2007 1 October 2007 Carillion sells cleaning company Pall Mall Support services and construction company, Carillion plc, has sold Pall MallHoldings and Sovereign Soft Services Limited to Resource (NI) Limited, a whollyowned subsidiary of the Resource Services Group. The consideration for the sale is £22 million, received in cash. The sale isexpected to generate a loss on disposal of approximately £7 million, net ofgoodwill and disposal costs, subject to a completion accounts process. Commenting, Carillion Chief Executive, John McDonough, said: "Pall Mall andSovereign Soft Services, which we acquired with Mowlem in 2006, are non-corebusinesses for Carillion and their disposal is in line with our strategy forgrowing the Group's support services business through focusing on integratedservice solutions for long-term customers, rather than on the single-commodityservices of cleaning and security provided by these two companies". Carillion will use the sale proceeds to reduce its net borrowings. For further information contact John Denning, Director Group Corporate Affairs 01902 316426 Notes to EditorsCarillion is one of the UK's leading support services, construction and PublicPrivate Partnership project companies. The Group has annual revenue of around £4bn and employs over 40,000 people. The Group operates across the UK, in the Middle East and in Canada and theCaribbean. In the UK, the Group has eight principal market sectors - Defence, Education,Health, Building, Facilities Management and Services, Roads, Rail and CivilEngineering. In the Middle East, the Group's two principal market sectors are Constructionand Facilities Management. In Canada and the Caribbean the Group's main sectors are Health, RoadsMaintenance and Construction. The Group is a leader in Public Private Partnership projects, particularly inthe Defence, Education and Health sectors in the UK and in the Health sector inCanada. This and other news releases relating to the Group can be found atwww.carillionplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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