ENGINEERING and manufacturing group Glynwed International - best known for its Aga and
Rayburn cookers - has sold off a clutch of businesses to a US-owned company in a #100m deal.
The deal was a major milestone for Birmingham-based Glynwed, which has set out on a strategy aimed at concentrating on its other businesses, including cookers for consumers and the catering
industry, and pipe systems.
The stainless steel and aluminium distribution businesses being sold made up most of the group's metal services division. They trade as Aalco, Cashmores and Amari from 21 UK sites.
They are being bought by Kingston Metals, a subsidiary of privately-owned US group Henley Management Company.
Last year they made an operating profit of #10m on sales of #268m.
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