Qualceram Shires today announced the sale of its Arklow property to Brattice Properties for €31 million.
Qualceram Shires, which specialises in making bathroom products, will continue to operate at the company's Arklow site for the next two years until a suitable location is found.
The transaction, which is subject to shareholder approval, is worth €31 million, payable in cash on completion.
The company announced today that the Wicklow property has a book value of €10 million.
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Brattice Properties is a wholly owned subsidiary of Ardawn Developments Two.