DIA.L

Dialight Plc
Dialight PLC - Non-core disposal
29th July 2024, 06:00
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RNS Number : 1738Y
Dialight PLC
29 July 2024
 

Dialight plc

("Dialight" or the "Group")

 

Non-core disposal

 

29 July 2024

 

Dialight plc (LSE: DIA.L), a global leader in LED lighting for heavy industrial applications, today announces that it has entered into an agreement for the sale of its business manufacturing signal lights used in traffic, pedestrian and railroad management in North America (the Traffic Business) to Leotek Electronics USA LLC  and realising gross cash proceeds of $5.8m. After transaction and other costs, net cash proceeds are $5.5m which will be used to reduce group indebtedness.

The Business had previously been identified as non-core.

The gross value of assets sold is $nil and profits attributable to the Business in the twelve-month period to 31 December 2023 of $nil.

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. 

 

Contacts: 

Dialight plc

Tel: +44 (0)203 058 3542

Steve Blair, CEO

Carolyn Zhang, CFO

 

About Dialight:

Dialight (LSE: DIA.L) is a global leader in sustainable LED lighting for industrial applications. Dialight's LED products are providing the next generation of lighting solutions that deliver reduced energy consumption and create a safer working environment. Our products are specifically designed to provide superior operational performance, reliability, and durability, reducing energy consumption and ongoing maintenance, and achieving a rapid return on investment. The company is headquartered in the UK, with the main operations in the USA, UK, Mexico, Malaysia and Singapore, Australia. To find out more about Dialight, visit www.dialight.com. 

 

 

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