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Kier sells plant business

Contractor Kier has announced today it is selling its plant business for £4M following a strategic review of its business.

In an effort to streamline the business to focus on what chief executive Paul Sheffield said was its “core business” the firm has sold its mechanical and small tools unit to Ashstead Plant Hire company for £4.01M, of which £3.76M was in cash.

As part of the sale, Kier has entered trading agreements with Wernick and Ashstead to ensure the sold assets are still available to its business.

“It is important for Kier to respond to changing market conditions and, by focusing on our core business and building on our strengths, we can ensure that Kier remains a strong and resilient business and continues to grow in our chosen markets,” said Sheffield.

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