Sale of Pochin’s concrete pumping arm falls through

MIDDLEWICH-based property and construction company Pochin has announced that talks to sell its concrete pumping division have fallen through.

The company had been in talks to sell the loss-making business, which last year contributed towards a group loss of £4.8m, for over six months.
On October 3 last year, it said that it was in “advanced stages” of talks about a deal.

However, in a trading update this morning the company said: “It is…unfortunate to report that these negotiations did not reach a successful conclusion, although discussions have resumed with other interested parties and the Group continues to work with its external advisers to complete the disposal.”

It added that although the division is now classed as a discontinued activity, a delay in its sale “will be reflected in the year end result”. Despite this, it added that its core construction and property development businesses are “performing well in current market conditions”.

Its construction arm has a strong order book for next year, and its property portfolio has had few tenant defaults or voids. It is also continuing to sell off non-core assets.