News blog
Acertec
- BY: Andrew Hore |
- POSTED: 01/09/2008 |
- COMMENTS: Add yours
Acertec is negotiating the sale of more parts of its business.
Discussions with Celsa about the sale of its UK steel reinforcement business BRC Ltd and its Irish joint venture BRC McMahon Reinforcements Ltd follow the proposed sale of Acertec’s 70.28% stake in BRC Asia.
Celsa is a UK producer of steel reinforcement bars and other steel products. No potential value was put on the deal.
Acertec will receive an initial £14.3m for BRC Asia, and a further £3.6m 12 months later.
Acertec’s net debt was £64.1m at the end of 2007. If the UK sale goes ahead Acertec will be left with the Stadco automotive pressings business.
Acertec shares rose 0.25p to 10.25p, valuing the company at £5.26m.
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