Delta exchanged contracts for the £27m sale of its materials businesses to US-based Marmon Group last week, marking the final stage of its divestment plans.
About 1,080 staff would transfer with the proposed sale of the materials division to Marmon subsidiary Cerro Metal Products. Businesses affected by the deal include Delta Extruded Metal Company, Delta Manganese Bronze, Delta Precision and Delta EMS.
Delta chief executive Jon Scott-Maxwell said this disposal completed the bulk of Delta’s repositioning away from low-value commodity products and into the group’s four main areas of focus for the future. These are electrical protection, galvanising, electrolytic manganese and plumbing products.
Delta set itself a target of divesting nearly 40% of its asset base when it first unveiled details of the restructuring last autumn.
Earlier this year the company announced a £40m asset swap with BICC, which saw it pull out of the rod, wires and cables business. Just weeks later it acquired Dutch switch maker Holec as part of a strengthening of its electricals operations.