Transport engineering group Syltone is to close one of its companies and put a `for sale’ sign on two others in a bid to reduce debts and focus on its core operations. Yorkshire-based Syltone will close EW Fuel Management, which supplies specialist products to retail petrol stations. It will also sell Metal Spraying, its chrome and bronze electroplating operation, and Bradley Doublelock, which supplies couplings and other ancillaries to the trailer industry.
The moves will reduce Syltone’s workforce by around 200 by the year end. Syltone will also restructure its remaining businesses into two divisions – Road Transport and Fluid Transfer.