Avon Rubber PLC
21 November 2003
21 November 2003
AVON RUBBER p.l.c. SELLS FRENCH
TECHNICAL PRODUCTS BUSINESS FOR €4.67 MILLION
Avon Rubber p.l.c. ('Avon') announces that it has sold Avon Spencer Moulton SA
to NOVA Participations SAS for a total cash consideration of €4.67 million.
Previously part of the Technical Products Division, Spencer Moulton which is
based in Malesherbes near Paris, manufactures a range of moulded rubber crawler
tracks used on construction equipment and components for the railway industry.
For the year to 30 September 2003 it recorded external sales of €12.1 million
and an operating profit of €0.6 million.
Avon is an international polymer engineering group operating in the automotive
components and technical products businesses. Avon was advised on the disposal
of Avon Spencer Moulton by Livingstone Guarantee and Financiere de Courcelles,
the English and French member firms of Global M&A.
Avon Rubber's ordinary shares are listed on the London Stock Exchange. Avon will
be announcing preliminary results for year ending 30 September 2003 to the Stock
Exchange on Thursday 4 December 2003.
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For Further information please contact:
Avon Rubber p.l.c
Jayne Hunt, Group Communications Executive Direct Line: +44 (0) 1225 861169
Switchboard: +44 (0) 1225 861100
Weber Shandwick Square Mile
Richard Hews / Rachel Taylor 020 7067 0700
This information is provided by RNS
The company news service from the London Stock Exchange
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