Partner Article

£2.5m Stadium sale spurs growth

ELECTRONICS manufacturer Stadium Group is gearing up for growth on the back of a strong first half to the year after offloading its plastics division for £2.5m.

The Hartlepool firm has sold its plastics business which incorporates Stadium Building Products and Quest Consumer Products, both based in Chingford East London, to Flambeau Europlast Ltd.

It has also issued a trading update which reports very strong trading in the electronics business during the first half of the year that is significantly ahead of the corresponding period last year.

Chairman Nick Brayshaw OBE said: “This transaction marks a further milestone in the implementation of our strategy to develop Stadium as a leading electronics business.

“We believe that the market for our services offers high growth potential and are pleased to have the additional resources available to continue to invest in our existing facilities, and to develop the business by further acquisition activity, should suitable opportunities arise.”

Nigel Rogers, chief executive added: “For many years our strategy has been to develop the core electronics business, which has resulted in the acquisitions of our wholly owned China manufacturing operation, a second UK manufacturing site in the Midlands and three acquisitions in our power supply division.

“Additionally, we have seen critical mass gained in electronics in the past 12 months following significant contract wins in high growth market sectors, and so the time is right to focus our resources in the areas which present most opportunity.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .