Carillion PLC
01 October 2007
1 October 2007
Carillion sells cleaning company Pall Mall
Support services and construction company, Carillion plc, has sold Pall Mall
Holdings and Sovereign Soft Services Limited to Resource (NI) Limited, a wholly
owned subsidiary of the Resource Services Group.
The consideration for the sale is £22 million, received in cash. The sale is
expected to generate a loss on disposal of approximately £7 million, net of
goodwill and disposal costs, subject to a completion accounts process.
Commenting, Carillion Chief Executive, John McDonough, said: 'Pall Mall and
Sovereign Soft Services, which we acquired with Mowlem in 2006, are non-core
businesses for Carillion and their disposal is in line with our strategy for
growing the Group's support services business through focusing on integrated
service solutions for long-term customers, rather than on the single-commodity
services of cleaning and security provided by these two companies'.
Carillion will use the sale proceeds to reduce its net borrowings.
For further information contact
John Denning, Director Group Corporate Affairs 01902 316426
Notes to Editors
Carillion is one of the UK's leading support services, construction and Public
Private Partnership project companies.
The Group has annual revenue of around £4bn and employs over 40,000 people.
The Group operates across the UK, in the Middle East and in Canada and the
Caribbean.
In the UK, the Group has eight principal market sectors - Defence, Education,
Health, Building, Facilities Management and Services, Roads, Rail and Civil
Engineering.
In the Middle East, the Group's two principal market sectors are Construction
and Facilities Management.
In Canada and the Caribbean the Group's main sectors are Health, Roads
Maintenance and Construction.
The Group is a leader in Public Private Partnership projects, particularly in
the Defence, Education and Health sectors in the UK and in the Health sector in
Canada.
This and other news releases relating to the Group can be found at
www.carillionplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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