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Avingtrans shares rise as nets GBP35 million from subsidiary sale


Avingtrans shares rise as nets GBP35 million from subsidiary sale
Fri, 12th Mar 2021 09:37
(Alliance News) - Avingtrans PLC on Friday said it has agreed to sell its Peter Brotherhood unit for GBP35.0 million.
Shares in the supplier of equipment and services to the energy, medical and industrial markets were 12% higher at 335.60 pence each in London on Friday morning.
Peter Brotherhood Ltd, a Peterborough, England-based firm which Avingtrans acquired in 2017 for GBP9.3 million, will now be part of Howden Group Ltd, a Renfrew, Scotland-based provider of air and gas handling products. Peter Brotherhood came as part of the purchase of Hayward Tyler Group. It makes steam turbines, turbo gen-sets, compressors, gear boxes and combined heat and power systems. ....

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