Billington Holdings acquire land and assets in Shafton expansion

AIM-listed Billington Holdings announced on Friday it will acquire land and assets in Shafton from two companies.

It will purchase a 25 acre site from Sabler Enterprises for £2.5m, as well as equipment and other assets from Sherling Steel for £2.38m.

Billington said the planned acquisition would give it access to new machinery and increased capacity on top of its current sites in Barnsley and Bristol.

The facilities will be adapted for optimum production and within three years the board said it believed the new facilities will significantly increase the structural steelwork divisions’ output.

The acquisition will be partially funded through cash resources and partially from a commercial mortgage from HSBC.