Trinity spreads wings with pounds 14m buy

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.