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Hudson sells Australian blue-collar division

October 02 2007

The Hudson Highland Group Inc. (NASD: HHGP) said it's selling its Australian trade and industrial business to the Skilled Group for $3.0 million. Hudson will keep $4.0 million in assets, primarily receivables; the transaction will close in 30 days.

The company said the Australian blue-collar business was no longer a key part of its long-term strategy.

"Given its industrial focus, Skilled Group represents a better, long-term opportunity for the continued growth of our trade and industrial team and business," said Chairman and CEO Jon Chait. "This transaction also allows Hudson to further focus on our specialized, professional recruitment segments moving forward."

Skilled Group is an Australian staffing company based near Melbourne.

Hudson's Australian trade and industrial business had $44.4 million in revenue in 2006 and operating income of $2.3 million.

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