This disposal follows the Group’s previously stated intention of exiting the contracting and services part of its building management systems (BMS) operations within its Controls business and focussing instead on becoming a supplier of products and systems to the BMS industry.
ABS EMEA is the leading provider of BMS in the
In the last financial year ABS EMEA reported sales of £94 million and an operating profit of £5 million. The net operating assets of these businesses as of 31 March 2005 were £25 million. Of the £94 million of divested revenue, £68 million was contracting and services and £26 million related to products. The ABS operations in the rest of the world had sales of £130 million.The transaction is subject to customary regulatory approvals and is expected to be complete by the end of July.