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Ryland sells M-B van sites

Ryland has disposed of certain assets and the business operations of its Mercedes-Benz van operations in Stockton-on-Tees and Spennymoor, Co. Durham to Bell Truck Sales Limited.

The sale included net assets amounting to £0.4mfor which consideration of £0.6 million was received in cash. In the year ended 31 December 2001, the businesses reported profits before tax of £194,000.

A Ryland spokesman says: “The transaction is in line with the group's reorientation towards the specialist and luxury sector of the car market, and will not have a significant impact on the group's profitability, whilst the proceeds will reduce our borrowings.”

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