GUD sells Dexion for $7.5M

Company News

by Roma Christian

GUD Holdings Limited (ASX:GUD) has entered into an agreement to sell its Dexion warehouse racking products and systems business for around $7.5 million net.

As part of the agreement the manufacturing company will sell its Dexion business to Tech-Link Storage Engineering.

Tech-Link is a Singapore-based company which operates in South East and North East Asia.

The company focuses on manufacturing, logistics and marketing of material handling products and systems.

GUD is divestment in Dexion is expected to be completed on 1June 2017.

Shares in GUD Holdings Limited (ASX:GUD) closed at $12.31 on Friday.