MGL
06/10/2015 11:34
ASSET
PRICE SENSITIVE
REL: 1134 HRS Mercer Group Limited
ASSET: MGL: Mercer Group Divests Medical Division
Mercer Group Divests Medical Division
Mercer Group Ltd (NZX:MGL) has made its first steps towards restructuring its
business by selling its Medical division.
Mercer Group CEO Richard Rookes said the divestment represented the
continuation of the strategy to refocus the Company that was announced in
August.
"Since August we have been continuing the review of the different divisions
within the Mercer Group. The sale of the Medical division is the first step
towards the refined focus of (i) further developing our export led food
processing technologies businesses; (ii) the commercialisation of the S-Clave
sterilisation technology; and (iii) growing the core stainless fabrication
business".
Mercer Group has agreed to sell its Medical division to C.R.Kennedy (NZ) Ltd
for $2.03m. The sale is unconditional.
Mercer's Medical division is a distributor of medical devices and equipment
in both New Zealand and Australia. It represents a number of high quality
agencies in New Zealand including MMM and Dr Weigert.
C.R.Kennedy is a leading distributor of medical, photographic, CCTV and
survey equipment both in New Zealand and throughout Australia. C.R.Kennedy
(NZ) Ltd is based in Auckland.
C.R.Kennedy (NZ) Ltd Managing Director Gerard Emery said "Mercer Medical is
the perfect fit within our medical division and complements our current range
of products. We will ensure an uninterrupted supply of services as we
transition the two companies together and look forward to continuing the
great service Mercer Medical has offered over the many years".
For further information contact:
Richard Rookes, CEO, 021 414 016
End CA:00271323 For:MGL Type:ASSET Time:2015-10-06 11:34:55