Billington Holdings Plc
("Billington", the "Group" or the "Company")
Formation of Specialist Painting Subsidiary
Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is pleased to announce the formation of a new subsidiary, Specialist Protective Coatings Ltd ("Specialist Protective Coatings"), focussed on surface preparation and the application of protective coatings for products across a variety of sectors including rail, highways, defence, petrochemical, energy, structural steel and infrastructure.
Specialist Protective Coatings, which will offer a wide range of paint treatments including anti-corrosion and fire protection systems, has been formed following the Company's acquisition of the trading assets of Orrmac Coatings Ltd ("Orrmac Coatings"), a specialist painting company based in Sheffield, UK, in January 2022, out of administration.
The Group has been seeking to expand its painting capabilities for some time and the acquisition presented an excellent opportunity to strengthen the Group's internal offering in this area as well as providing a specialist service to the wider market. Since Billington acquired the trading assets of Orrmac Coatings, sited from the 55,000 square foot facility in Sheffield, it has undergone a substantial refurbishment and investment programme to ensure the facility is able to effectively service the most demanding of projects, including shotblasting and lifting capabilities for steel assemblies that are amongst the largest capacity in the UK.
Mark Smith, CEO of Billington, commented:
"We are pleased to announce the formation of Specialist Protective Coatings following the acquisition of the trading assets of Orrmac Coatings. It is an exciting period for Billington and we believe the addition of Specialist Protective Coatings will further strengthen the Group's market position through increased capabilities and product offerings."
For further information please contact:
| Billington Holdings Plc | Tel: 01226 340 666 |
| Mark Smith, Chief Executive | |
| Trevor Taylor, Chief Financial Officer | |
| | |
| WH Ireland Limited | Tel: 020 7220 1666 |
| Chris Hardie | |
| Fraser Marshall | |
| | |
| IFC Advisory Limited | Tel: 020 3934 6630 |
| Tim Metcalfe Graham Herring | |
| Zach Cohen | |
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
