Sale and leaseback of Cadilla

RNS Number : 1647S

Avon Rubber PLC

06 September 2010

 



Strictly embargoed until 07:00 6 September 2010

AVON RUBBER p.l.c.

("Avon", the "Group" or the "Company")

SALE AND LEASEBACK OF CADILLAC FACILITY

Avon announces the completion of the sale and leaseback of their Avon Protection Systems facility in Cadillac, Michigan, USA to RMD Cadillac, LLC and two other purchasers. The transaction has a sale value of $2.6m (£1.7m) and the net proceeds after fees and other associated costs will approximate the net book value of this asset on disposal. The net proceeds of $2m (after tax) will be used to pay down debt.

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For further enquiries, please contact:

Avon Rubber p.l.c.
Peter Slabbert, Chief Executive	01225 896831
Andrew Lewis, Group Finance Director	01225 896830
Fiona Stewart, Corporate Communications Executive	01225 896871
Weber Shandwick Financial
Nick Oborne	020 7067 0700
Clare Thomas

NOTES TO EDITORS: Avon Rubber p.l.c. is a world leader in the design, test and manufacture of advanced Chemical, Biological, Radiological and Nuclear (CBRN) respiratory protection solutions to the worlds military, law enforcement, first responder, emergency services, fire and industrial markets. Avon has a unique capability in CBRN protection based on a range of advanced CBRN technologies in respirator design, filtration and compressed air breathing apparatus. This enables Avon to develop specialised solutions that take full account of user requirements. Avon also owns a world leading dairy business manufacturing liners and tubing for the automated milking process. For further information please visit the Group's website www.avon-rubber.com

 

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