LONDON (Alliance News) - Pipe manufacturers Tricorn Group PLC Monday said it has sold the trade and assets of its Redman Fittings business to Radius Pipe Systems for an undisclosed sum.
Redman, which was part of Tricorn's Energy and Utilities division, produces jointing systems for use typically within the utilities industry. The joints are used in pipes.
Radius Pipe Systems supplies polyethylene pipes and fittings to the gas and water utilities sector.
Tricorn shares were trading at 36.50 pence Monday morning, up 0.75 pence or 2.1%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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