SIG sells safety and workwear business
SIG Safety and Workwear, based in Wednesbury, has been sold to Bunzl. The sale price of the business was undisclosed.
SIG Safety and Workwear is a subsidiary of Sheffield-based SIG. The company distributes personal protection equipment and workwear to a variety of market sectors throughout the UK. Revenue in the year ended 31 December 2010 was £22m and the gross assets of the business at completion were £8m.
Chris Davies, chief executive of SIG, said: "We are pleased to announce the sale of our SIG Safety and Workwear to Bunzl, who will provide the necessary scale and focus to take the business forward.
"This divestment, which follows the recent sale of our scaffolding business, is consistent with SIG's key strategic initiative to improve performance by actively managing the group's portfolio of businesses to focus on our core operations."
SIG is a specialist supplier of insulation, interiors, exteriors and specialist construction products.
