Insulation and construction product specialist SIG has offloaded
another non c0re business.
Today the firm announced it had sold its Safety and Workwear business to
distribution giant Bunzl.
SIG Safety and Workwear is a leading distributor of personal protection
equipment and workwear to construction.
Revenue in 2010 reached £22m and the gross assets of the business at
completion were £8m.
Earlier this month SIG raised £7.1m from the sale of its scaffolding specialist Beaver 84 to French firm Altrad.
Chris Davies, Chief Executive of SIG, said: ”We are pleased to announce the
sale of our SIG Safety and Workwear to Bunzl plc, who will provide the necessary
scale and focus to take the business forward.
“This divestment, which follows the recent sale of our scaffolding business,
is consistent with SIG’s key strategic initiative to improve performance by
actively managing the Group’s portfolio of businesses to focus on our core
operations.”