Hays in Albion takeover

Hays in Albion takeover

Keywords: Hays colours, Albion Chemical Holdings Ltd, Colour

Dye and pigment manufacturer and distributor-Hays Colours has been sold to Albion Chemical Holdings Ltd as part of the disposal by Hays plc of its non-core Hays Chemicals business. As a result Hays Colours will now become Albion Colours Ltd.

The deal involves Hays plc initially retaining 49 per cent of Hays Colours stake holding. The current staff and management team at the company remains unchanged with the only change being to the company's name and trading identity.

The managing director of newly named Albion Colours Andy Stamataris commented, “we see the deal as a very positive move for the company. Hays'decision to retain a substantial stake holding in the company ensures continued stability whilst our new owners will bring financial flexibility for future investment.”

Parent company Albion Chemical Holding Ltd. has been formed, by two chemicals specialists Peter Savage and William Cortazzi and a financial expert, Nigel Batchelor. Chairman, Peter Savage says, "We are delighted to come to a business with so much potential. We've met good people, we've seen strong market positions and we sense a great will to succeed.”