For the year ending 30 June 2014, APC generated an operating loss of £1.4 million.
The Group had been seeking a buyer for APC since Autumn 2014, after announcing that the focus of its future strategic development would be to accelerate the growth of its market-leading Building Products activities.
The cash generated from the sale of APC will be used to support the development, including the relocation, modernisation and expansion of its Rainwater & Drainage business, currently located on the same site as APC.
APC’s employees have transferred to Shield under TUPE and Shield has indicated that it intends to invest in and develop the APC business at its current factory near Kettering.
Paul Hooper, Chief Executive of The Alumasc Group, commented: We are delighted to have concluded the sale of APC to Shield, a company we believe is better positioned than Alumasc to develop the business and its service to customers.
The divestment of APC will be strongly earnings and cash flow enhancing for Alumasc and will allow the Group to focus on its strategic priority to drive the further profitable growth of its continuing businesses.
Alumasc Exterior Building Products Ltd.,
White House Works,
Phone: 01744 648 400
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