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Wood Announces Disposal Of Non-core Conveyor Systems Business

Wood Group (John) plc (WDGJF.PK,WG.L) announced further progress with its non-core asset disposal programme having agreed the sale of its Terra Nova Technologies business, a conveying and material handling systems solutions business, to Cementation Americas, a business owned by Murray & Roberts Holdings Ltd. Cash proceeds in respect of the disposal will be $38 million.

The sale remains subject to normal conditions, with closing expected in second-quarter.

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