A North East engineering firm stands to benefit from a £44.5m deal struck by its parent company.
Carlisle-based agriculture and engineering group Carr’s has announced the deal to dispose of its agricultural supplies division Carr’s Billington - which has a number of stores in Northumberland and County Durham, as well as in Cumbria and Scotland - to Liverpool company Edward Billington and Son.
Carr’s said the disposal would allow it to focus on its speciality agriculture and engineering divisions, which are seen as having greater opportunity for growth and higher profit margins. Some of the proceeds of the sale will be used to help the engineering division - which includes North Shields’ Chirton Engineering - fund larger and longer-term contracts.
