Hills sells off remaining building businesses

 

Hills Holdings is selling off the remnants of its building materials business so it can focus on the lifestyle and electronics sector.

The manufacturer originally announced that it would move award from steel in February this year.

It came on the back of the company cutting 300 jobs from its Orrcon and Fielders steel operation, as well as the shutdown of its Regency Park steel plant.

In its most recent statement, the company announced that its restructure of the business, in particular the exit of Korvest, and its healthcare, solar, and water tank businesses is almost complete.

The focus is now of its electronics and communications segment, where it recorded an increase in sales of 12.8% year on year, compared to the 5% drop it saw in its building and industrial division.

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