LONDON (ShareCast) - (Sharecast News) - Office services provider Restore has sold its toner cartridge recycling business ITP to Ink & Toner Recycling, it announced on Tuesday.
The AIM-traded firm said it would receive a 40% stake in Ink & Toner as consideration, and would be represented on Ink & Toner's board.

It said it would treat ITP Group, which generated revenues of approximately £4m and a small operating loss in the year ended 31 December, as a discontinued activity and account for it as a minority interest going forward.

"The sale of ITP enables us to focus on the core IT hardware lifecycle management activities within our Restore Technology business," said chief executive officer Charles Skinner.

"The combination of ITP and Ink & Toner creates an enlarged business that is better placed to grow and deliver increased value for Restore."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE