Wolseley wants to say au revoir to French subsidiary
LEAMINGTON Spa building materials group Wolseley is planning to quit the French market.
In a statement to the London Stock exchange this morning, the firm said that it had decoded to explore exit options for its remaining business materials business in France.
In the year ended 31 July 2014 France Building Materials generated revenue and trading profit of £577m and £7m respectively and had net assets of approximately £130m.
Last year Wolseley sold off an Austrian subsidiary and a distribution centre in Yorkshire.
