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Last Updated: Monday, 22 October 2007, 15:05 GMT 16:05 UK
Firm positive on slate sell-off
Chwarel Y Penrhyn Bethesda
McAlpine's Penrhyn quarry in Bethesda
Efforts to find a buyer for slate quarries in two Gwynedd towns are going well, according to the current owners.

Alfred McAlpine Slate said there was a lot of interest in the quarries at Blaenau Ffestiniog and Bethesda.

The firm hit the headlines in February when two senior company managers were suspended after "accounting irregularities".

Then a month later the company announced that up to 174 workers could be made redundant.

That figure was later reduced to 135 compulsory losses after union negotiations.

Quarries at both sites are still producing slate and slate products.

In a statement Alfred McAlpine Slate said the proposed sale was "proceeding well, with a substantial level of interest from both trade and financial buyers".

'Offer rejected'

Meanwhile an offer from Carillion plc to buy the entire Alfred McAlpine operation for 570 pence a share has been rejected.

McAlpine said the offer "materially undervalued the company, particularly in light of the company's strong recent results".

SEE ALSO
Slate quarry job losses 'reduced'
02 Apr 07 |  North West Wales

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