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SDI Group

  • BY: Andrew Hore |
  • POSTED: 30/11/2008 |

SDI Group is considering selling its businesses in the US and Chile.

The management of the businesses, led by their president Mary Adams, want to buy them. SDI is involved in non-exclusive discussions but there is no guarantee that a sale will be agreed. 

SDI is a systems integrator for materials handling systems for distribution centres. SDI came into existence when US business SDI Industries Inc and UK associate SDIGreenstone merged to form SDI Group prior to the Aim flotation in July 2007.

The North and South American businesses generated revenues of £10.4m in the six months to May 2008. Group revenues before inter-company sales were £29.2m - after inter-company sales the figure is £23m. Profitability is not split out geographically. 

The shares rose 0.625p to 3.5p each on the news of the potential disposal. This values SDI at £3.82m. SDI joined Aim via a placing at 49p a share.

Orders have been delayed in the US and UK and the group is reviewing its bad debt provisions. Other geographic regions are performing reasonably well. 

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