The sensor and electronic component technology group will use the proceeds to reduce its borrowings.

WST's profit before tax for the year to December was £0.4m, down from the previous £1m.

TT's CEO, Geraint Anderson, said the disposal 'represents further progress against the objectives we set following our strategic review last year.

'We are pleased to have been able to secure a good valuation for the business in the current challenging economic environment. This represents the most significant disposal from our General Industrial division to date, following the sales of two smaller businesses during 2009.'

Story provided by Business Financial Newswire