20/09/2007
Update on Withdrawal from Makers
Keller Group plc (“Keller” or “the
Group”), the international ground engineering specialist,
announces significant progress in the withdrawal from Makers, its
UK refurbishment business.
Social Housing Division
Makers has agreed terms for the sale of its Social Housing Division
to Mears Group PLC, the AIM-listed social housing repair and
maintenance provider. The sale of the ongoing business and assets
will complete on 28 September 2007.
Allied Division
The Allied Division, comprising Makers’ small mechanical and
electrical business, was sold to management on 7 September
2007.
The sale of both businesses is for a nominal consideration.
Justin Atkinson, Keller Chief Executive,
commented:
“Last month, in our interim results statement, we
announced our intention to withdraw from this non-core business, to
enable greater focus on the Group’s strongly performing
specialist ground engineering businesses.
“We have made good progress in the meantime, with the
disposal of two divisions which together accounted for some 75% of
Makers’ 2006 sales.
“Discussions continue around the future of the remaining
Car Parks and Infrastructure Divisions and we expect to be able to
provide a further update before the end of the year.”
For further information, please contact:
| Keller Group plc |
|
| Justin Atkinson, Chief Executive |
020 7616 7575 |
| James Hind, Finance Director |
|
 |
|
| Smithfield |
020 7360 4900 |
| Rupert Trefgarne |
|
|
