Business
Disposal of non core business
Disposal of non core business.
About this update from Billington Holdings Plc
[{"type":"text","content":"\n RNS Number : 3571L Billington Holdings PLC 05 May 2010 \n \n\nPress Release 5 May 2010\n\n \nBillington Holdings Plc\n\nBillington Holdings PLC\n \n(\"Billington\") or (\"the Group\")\nDisposal of non core business\n \nBillington Holdings Plc (AIM:BILN) announces that it has reached agreement to sell Dosco Holdings Limited to SMT Scharf AG, for a cash consideration of £1.8million payable on completion. SMT Scharf is based in Hamm, Germany and is the technology and world market leader for rail-bound railway systems for the mining sector. \nThis transaction is viewed as a very positive move by the Billington Board as it completes the disposal of non core businesses enabling the group to concentrate on the future development of its core business activities of structural steel and safety solutions. The ongoing business consists of Billington Structures - one of the leading structural steel contractors businesses in the UK focusing on the design, manufacture and erection of structural steelwork for industrial, public sector and commercial buildings and easi-edge - a specialist in the development, production and rental or sale of edge protection systems and other safety related products.\nThe exiting group consists of two principal businesses based in Nottinghamshire, Dosco Overseas Engineering Limited \"Dosco\" and Hollybank Engineering Limited \"Hollybank\". Dosco is engaged in the manufacture and supply of underground mining machines to the international mining industry and Hollybank supplies underground support arches principally for the UK mining industry. \nThe transaction is viewed as positive for the exiting group in that as part of ...