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Hewden in crane sale talks
15:16 14 Aug 2002
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Hewden Stuart, the country's biggest plant hirer, has confirmed it
is in discussions with a third party over the proposed sale of its
Hewden Tower Cranes division.
In a statement issued by the Hewden Stuart board, the company said these discussions followed an unsolicited approach for the sale of the business.
"The board has a duty and responsibility towards our shareholders to consider and evaluate it fully. The proposed transaction is subject to a confidentiality agreement and, accordingly, we are unable to comment further other than to state that discussions are ongoing and that any formal announcement will be made in due course," said the statement.
The third party involved is believed to be Middlesex-based specialist concrete contractor PC Harrington. Nobody from the company was available for comment.
The Hewden Tower Cranes fleet, said to be the largest in the country, totals 150 units, including both luffing and saddle jib models. Currently they are available for both sale and hire.
In a statement issued by the Hewden Stuart board, the company said these discussions followed an unsolicited approach for the sale of the business.
"The board has a duty and responsibility towards our shareholders to consider and evaluate it fully. The proposed transaction is subject to a confidentiality agreement and, accordingly, we are unable to comment further other than to state that discussions are ongoing and that any formal announcement will be made in due course," said the statement.
The third party involved is believed to be Middlesex-based specialist concrete contractor PC Harrington. Nobody from the company was available for comment.
The Hewden Tower Cranes fleet, said to be the largest in the country, totals 150 units, including both luffing and saddle jib models. Currently they are available for both sale and hire.
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