MGL 0.00% 0.0¢ mercer group limited

Ann: ASSET: MGL: Mercer Group Divests Medical Division

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    • Release Date: 06/10/15 11:34
    • Summary: ASSET: MGL: Mercer Group Divests Medical Division
    • Price Sensitive: No
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    					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
    				
 
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