Dialight PLC - London-based producer of LED lighting for heavy industrial applications - Enters into an agreement for the sale of its business manufacturing signal lights used in traffic, pedestrian and railroad management in North America to Leotek Electronics USA LLC for $5.8 million. It says that after transaction costs, $5.5 million will be used to reduce group indebtedness. The business had previously been identified as non-core. ‘Dialight will continue to manufacture products under licence for the acquirer for a period of up to 15 months from the completion date. Thereafter, the transaction will allow Dialight to focus management and production capacity on its core activities,’ it adds.
Current stock price: 173.00 pence
12-month change: down 18%
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