Alumasc completes strategy switch
Alumasc has completed its transition to becoming a focused supplier of niche building products, systems and solutions.
The last step in the strategic transformation was the disposal of Dyson Diecastings, a machinery parts manufacturer, which has now been sold to Broadways Stampings for £4m.
The cash proceeds will be re-invested to support thepurchase of new premises for Alumasc's Water Management Solutions business as it approaches full capacity over the next couple of years.
Alumasc chief executive Paul Hooper said: “The sale of Dyson represents another key strategic milestone for Alumasc, which has been transformed over recent years from a diversified group into a focused, growing niche building products business with significant further growth potential."
In 2006, Alumasc changed its Stock Exchange classification from Engineering Products to Construction & Building Products, as the Building Products division became the larger of the group’s two divisions. The acquisitions of Levolux in 2007, Blackdown Greenroofs in 2008 and Rainclear Systems in 2012, together with the disposal of Alumasc Dispense in 2011 and Alumasc Precision Components in 2015, gave the group more focus on its core building products activities.
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This article was published on 1 Jul 2016 (last updated on 1 Jul 2016).