"HILLS Holdings has sold another of its manufacturing businesses, and expanded its technology operations into the healthcare sector.
Hills, the maker of the Hills Hoist, has sold plumbing supplier LW Gemmell to manufacturer Zurn Industries for an undisclosed sum, and says the sale will not impact its sales or earnings.
The sale continues the streamlining of Hills' business to overcome the weakening manufacturing sector.
The company has also paid $33.5 million for two new businesses that will add to its portfolio of technology businesses.
Merlon Healthcare Communications provides communications and nurse call systems to hospitals and aged care facilities, while HTR supplies televisions to hospitals.
Hills shares were up 9.5 cents, or 5.9 per cent, at $1.72 at 1236 AEST."
AZV Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
