Scottish firm Murray Metals Group announced that it is selling one of its trading divisions, Hillfoot Forge, to the Special Steel Company of Sheffield, for an undisclosed sum.
Hillfoot Forge, which employs 50 people, was one of three trading divisions along with Hillfoot Stockholding and Hytemp acquired by MMG in April 2008 following the acquisition of Hillfoot.
Mr Graeme Hill CEO of Murray Metals Group said that "The forge was a non core part of our operation and we believe its development and growth will be best suited within a dedicated business capable of realizing its potential."
Mr Alan Beardshaw the group chairman of Special Steel Group said that "It is our intention to invest in the forge with the latest equipment to ensure the very finest product can continue to be manufactured."
Murray Metals Group has operational centers across the UK, Europe and Asia and now employs almost 650 people