re Planning Permission

RNS Number : 9556Z

AB Dynamics PLC

13 February 2014

 



13 February 2014

AB Dynamics plc
("ABD" or the "Group" )

Wiltshire Council Resolves to Grant Planning Permission

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, is pleased to announce that, on 12 February 2014, Wiltshire Council's Strategic Planning Committee formally resolved to grant planning permission for a mixed use development on land south west of Kingston Farm, Bradford on Avon to include the Group's proposed new purpose built factory.

At the time of Admission to AIM, the Company set out that as part of its strategy and use of proceeds it planned to acquire an identified site to be utilised for the construction of an enlarged manufacturing facility. The next step in the process will be to negotiate and sign an agreement under Section 106 of the Town and Country Planning Act 1990 before the formal planning permission decision notice can be issued by the Council.

Chairman Tony Best commented: "We are delighted with this news which marks a significant step in our plans to build a new manufacturing facility. We have put a considerable effort into getting to this stage and are delighted to deliver on our stated strategy at the time of Admission to AIM."

For further information please contact:

AB Dynamics plc Tim Rogers, Managing Director Tony Best, Chairman	01225 860 200
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson Avi Robinson	0207 148 7900
Charles Stanley Securities Limited (Broker) Dugald J. Carlean Karri Vuori	0207 149 6000
Newgate Threadneedle (PR) Josh Royston Heather Armstrong Caroline Evans-Jones	0207 653 9850

Overview of AB Dynamics plc

ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 50 staff. ABD currently supplies seventeen of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

 

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