European rail infrastructure company SATEBA has sold off its UK drainage business Stanton Precast for an undisclosed sum.
Northern Ireland precast concrete supplier, Tracey Concrete, has acquired Stanton Precast Drainage’s facility in Ilkeston, Derby, as part of an industry expansion.
SATEBA said the company will remain on the same site, and that it is confident the deal will “herald a promising era” for Stanton, which was not one of its core businesses.
The French and European company added it is keeping its UK infrastructure and rail business.
Stanton Precast’s website is no longer in use but is it still handling enquires during the transition period.
“We have successfully acquired Stanton Precast Drainage in Ilkeston, Derby,” said Tracey.
“This strategic move is a testament to our commitment to delivering high-quality precast drainage solutions and reinforces our position in the industry.
“By merging our expertise and resources, we are well-positioned for continued expansion and success.”
SATEBA said: “SATEBA is retaining its UK infrastructure and rail business and remains committed to its UK team for future development.
“The company will remain on the same site which has been split between the two companies.”
Adding: “We thank you for your patience during the transition period and look forward to working with our rail and infrastructure partners in the UK.”
Enjoyed this? Try Balfour seeks partners for £1.3bn Trans-Pennine project
If you have a tip or story idea that fits with our publication, please contact the head of news rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.