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BM Group cuts gearing with US sale
- Article from:
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The Independent - London
- Article date:
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July 26, 1994
- Author:
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Copyright informationCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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BM GROUP, the engineering concern, has sold Mitchell, its US
distribution business, for $22m ( pounds 14m) and reduced gearing
below the 100 per cent level, writes Robert Cole.
As a result, BM's group debt fell from pounds 66m to pounds 52m
as of 30 June 1994, the end of the company's financial year.
Mitchell specialises in the sales and servicing of construction
and mining equipment. It supplies excavators, cranes and compacting
equipment for manufacturers such as Komatsu Dresser and Ingersoll
Rand.
Mitchell, which is based in Charlotte, North ...
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