Thursday, June 9, 2011

News: Optare sells Rotherham site


Bus manufacturer, Optare, has announced that the sale of the first part of their Rotherham site has now been completed for just under £1m.

Leeds-based Optare was sold to Blackburn coachbuilder Darwen Holdings in a £16m deal in 2008. An in-depth restructuring programme led to the decision to close the firm's plant at Hellaby.

The Rotherham manufacturing facility closed in July 2009 and the Cumbernauld service centre closed in November 2009. A service centre at Hellaby remained in operation.

Optare announced that they had accepted an offer for their former Rotherham manufacturing site back in June 2010. However, In January 2011 the company announced that they have accepted offers to sell the Rotherham site at Hellaby as two separate developments.

The total site is around 3,500 sq m and comprises a modern manufacturing facility, including two storey offices and a showroom area, with additional mezzanine areas.

Today, the board said that they are progressing with the sale of the second part of the site and a number of parties have given expressions of interest.

The proceeds from the Rotherham disposal has helped to reduce the company's overall debts to £1.4m. This is expected to be largely covered by the sale of the second part of the Rotherham site.

Optare website


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