Trinity spreads wings with pounds 14m buy

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Trinity spreads wings with pounds 14m buy

Trinity Holdings will buy the aircraft and cargo handling division of ML Holdings for pounds 14.25m. The acquisition includes two main operations, Douglas, a UK manufacturer of airport ground support equipment and dockside tractors and trailers, and Schopf, a German maker of trackless mining dumpers and loaders. The acquisition is being funded by the issue of 4.3 million new Trinity shares at 329p in a vendor placing. Trinity already trades in the airport equipment sector and the integration of Douglas and Schopf with Trinity's Reliance Mercury division will create a business with sales of more than pounds 40m.

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