The company’s management has taken over theoperation, which made a loss of £0.4m ($0.66m) before interest and tax from £4.1m inrevenue in the year to 28 February.
Braemar said: “Following the recent performance ofCasbarian, Braemar undertook a review of its operations and concluded that thestrategic fit with the Braemar Technical Services division was not sufficientlystrong to justify future investment.”
The deal will result in a loss of £0.9m.
CEO
