Keller Group PLC
20 September 2007
For immediate release Wednesday, 19 September 2007
Keller Group plc
Update on Withdrawal from Makers
Keller Group plc ('Keller' or 'the Group'), the international ground engineering
specialist, announces significant progress in the withdrawal from Makers, its UK
refurbishment business.
Social Housing Division
Makers has agreed terms for the sale of its Social Housing Division to Mears
Group PLC, the AIM-listed social housing repair and maintenance provider. The
sale of the ongoing business and assets will complete on 28 September 2007.
Allied Division
The Allied Division, comprising Makers' small mechanical and electrical
business, was sold to management on 7 September 2007.
The sale of both businesses is for a nominal consideration.
Justin Atkinson, Keller Chief Executive, commented:
'Last month, in our interim results statement, we announced our intention to
withdraw from this non-core business, to enable greater focus on the Group's
strongly performing specialist ground engineering businesses.
'We have made good progress in the meantime, with the disposal of two divisions
which together accounted for some 75% of Makers' 2006 sales.
'Discussions continue around the future of the remaining Car Parks and
Infrastructure Divisions and we expect to be able to provide a further update
before the end of the year.'
For further information, please contact:
Keller Group plc
Justin Atkinson, Chief Executive 020 7616 7575
James Hind, Finance Director
Smithfield 020 7360 4900
Rupert Trefgarne
This information is provided by RNS
The company news service from the London Stock Exchange
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