Wakefield-based Amco Corporation is to sell certain non-core operations, including construction, manufacturing, property investment and development businesses to Amco Group Limited (Newco) for £9.4m.
AMCO Corporation is currently a holding company for subsidiaries in a range of sectors including structural steel, construction, engineering and manufacturing.
The Board recently reviewed the strategic direction of the group, concluding that parts of the business may be better served by a clearer strategic focus. An agreement has since been reached to sell part of the group’s operations.
The retained group will now focus wholly on the existing structural steel and engineering businesses, which have a track record of growth. This includes Billington Structures, a structural steel business; Easi-edge, a safety solutions provider; Holybank, a manufacturer of steel arches for the mining industry; and Dosco, an internationally known designer and manufacturer of underground tunnelling and road heading machinery.