Finning Sells Material Handling Group
Posted on September 11, 2006
Finning (UK) Ltd, the UK distributor for Caterpillar engines and equipment, said it is selling its materials handling division to Sammons Enterprises, Inc., Dallas, Tex. The deal, worth approximately £85 million, frees capital and management resources to focus on extending Finning's positions in the sale and support of Caterpillar and Perkins products and, via its Hewden subsidiary, plant and equipment hire services, Finning said. Materials Handling staff will transfer with the business and be part of Sammons' equipment distribution division. The business will be operated as Briggs Equipment UK Limited and will complement Sammons' existing US and Mexico materials handling operations.