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Wagon sells consultancy

Wagon plc, the European automotive engineering group, has sold its North American engineering consulting business, Hawtal Whiting, to Acro Service Corp. for £400,000 cash.

This transaction sees the completion of of Wagon’s planned exit from this business, which was deemed non-core to the group’s primary automotive manufacturing activities.

Having restored the business to break-even in the past 12 months, the disposal realises a loss on disposal of £0.3 million.

Pierre Vareille, chief executive, said: "We are pleased to have concluded our exit from this business with this transaction. This enables the group to focus its efforts more fully on its core strategic activities of automotive manufacturing supply, and in North America on its successful and growing manufacturing and supply business."

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