Eleco offloaded SpeedDeck Building Systems, Prompt Profiles, Stramit Panel Products and Downer Cladding Systems earlier this month.
The deal allowed Eleco to concentrate on its precast specialist operations Bell & Webster Concrete and Milbury Systems alongside its construction software operation ElecoSoft.
Executive Chairman John Ketteley said: “our UK building systems businesses experienced difficult trading and have consumed substantial cash resources.
“I observed that this had unbalanced the Group and placed it under considerable financial strain.
“As a result, your Board has had to take a number of difficult decisions to deal with this situation, and I am pleased to say that a number of our recent actions are beginning to bear fruit, and as a consequence, in the absence of unforeseen circumstances we are becoming increasingly confident that Eleco will arrive at a position from which it should be able to make a full recovery.
