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Bodycote PLC on Friday said it has completed the sale of 10 business sites to French asset manager Arcole. The Macclesfield, England-based thermal processing firm received €22 million in cash for the portfolio of assets. All the sites were designated non-core assets, located in France and focused on heat treatment services for the automotive and industrial sectors, Bodycote said. It described the deal as ‘an important milestone’ in meeting the goals of its ’optimise’ programme, which targets a minimum £15 million ‘operating profit benefit’ at full run-rate by the middle of 2027. The programme’s net cash costs are forecast between £10 million and £15 million. ‘We are delighted to have completed this transaction, which brings in considerable proceeds and is a key step in the delivery of our optimise programme. It accelerates our efforts to transform the group’s portfolio and to create a higher quality, more resilient and faster growing Bodycote,’ Chief Executive Jim Fairbairn said. Bodycote shares were down 0.7% at 598.50 pence on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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