Tuesday, September 27, 2011

News: Offer received for remainder of Optare's Rotherham site


Bus manufacturer Optare has received an indicative offer on the remainder of their Rotherham site.

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.

The sale of the first part of the site at was completed for just under £1m in June.

In their half yearly report, the company's board stated that: "Optare has received an indicative offer on the remainder of the site for a similar amount and anticipate completion of the sale during Q4 2011, the proceeds of which are expected to be applied to further reduce term debt."

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.

The group posted financial results for the six months to the end of June showing pre-tax losses increasing from £4.4m from £2.7m a year ago. A fall in turnover from £27m to £22.7m was also reported.

Optare is planning to move to a new high-tech facility in Sherburn, Yorkshire next month.

Optare website


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