Ausdrill Limited
(ASX:ASL) says it will divest its DT HiLoad truck manufacturing business.
The business designs and manufactures the Hercules dump truck body and range of products. It was acquired as part of the Brandrill acquisition and is not considered a core asset.
Ausdrill managing director Ron Sayers says that DT HiLoad relies heavily on mining equipment utilisation and sales. The slowing of the mining sector means the company is no longer material to Ausdrill as a whole.
Negotiations are underway with a number of parties and Ausdrill hopes to have the sale wrapped up by end of March.
Ausdrill reported a net loss of $175.62 million for the 2015 financial year.
