Avon Rubber PLC
14 August 2006
14 August 2006
AVON RUBBER PLC
('Avon Rubber' or the 'Group')
Completion of Disposal
On 22 May 2006 Avon Rubber announced that it had entered into a conditional
agreement to sell Avon Automotive to Petrol Automotive Holdings Inc., a company
established and controlled by Red Diamond Capital Partners, L.P. and a
management team led by Leland Richards.
On 1 August 2006 Avon Rubber announced an extended period of completion due to
the delayed finalisation of certain legal requirements in the Czech Republic.
The finalisation of these requirements and the delayed closing have increased
the costs associated with the transaction by approximately £1.0 million.
All conditions having been satisfied, completion of the disposal of Avon
Automotive has now taken place.
- Ends -
For further enquiries, please contact:
Avon Rubber p.l.c 01225 896831
Terry Stead, Chief Executive
Peter Slabbert, Group Finance Director
(Local/Trade Press) 01225 896300
Fiona Stewart
Weber Shandwick | Square Mile 020 7067 0700
Richard Hews / Rachel Taylor / Stephanie Badjonat
NOTES TO EDITORS:
Avon Rubber p.l.c. is an international polymer engineering group adding value
through material, manufacturing and industry sector expertise. The Group is
currently capitalised at approximately £54 million.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.