Shares in Silverdell (SID) were suspended this week at the company's own request. There was no formal announcement explaining the move, but there are suggestions that the problem relates to one of the company's subsidiaries.
The latest development will no doubt have a corrosive effect on Silverdell's share price once the suspension is lifted, which is a shame, given the strength of the core business. Silverdell specialises in consultancy work and the treatment and removal of asbestos, and strict regulatory controls means that spending on asbestos is largely non-discretionary.
Only last month the company secured a number of contracts worth £12.1m, including a £3.2m demolition and decommissioning project for a large oil and gas company in West Canada, while remediation contracts in the UK worth £8.9m included public sector work on schools, colleges and hospitals.
