Sale of Safety and Workwear business to Bunzl plc

RNS Number : 5888H

SIG PLC

01 June 2011

 



1 June 2011                                                              

SIG plc

Sale of Safety and Workwear business to Bunzl plc

SIG plc, a leading European specialist supplier of insulation, interiors, exteriors and specialist construction products, today announces the sale of its Safety and Workwear business to Bunzl plc.

SIG Safety and Workwear is a leading distributor of personal protection equipment and workwear to a variety of market sectors throughout the UK.  Revenue in the year ended 31 December 2010 was £22 million and the gross assets of the business at completion were £8 million.

Commenting, 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."

Enquiries

SIG plc

Chris Davies, Chief Executive                                    + 44 (0) 114 285 6300

Gareth Davies, Finance Director

Simon Bielecki, Head of Investor Relations                + 44 (0) 114 285 6324

Financial Dynamics

Richard Mountain/Nick Hasell                                     + 44 (0) 20 7269 7291

 

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