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Business Engagement In County Durham

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Hargreaves Services Disposes Of Underground Mining Equipment

Hargreaves Services Disposes Of Underground Mining Equipment

Durham-based mining, energy and logistics company Hargreaves Services has signed a deal to sell its surplus underground mining equipment to an overseas buyer.

The equipment was originally acquired for use at the company's former deep mine at Maltby and later formed part of its legacy asset disposal programme.

Although the precise sale terms are subject to a confidentiality agreement, the proceeds are "in line with the carrying book value" of the equipment with the consideration to be paid in stages.

Gordon Banham, chief executive of Hargreaves Services, said: "This sale represents another positive step in the realisation of our portfolio of legacy assets.

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