Disposal

Carclo PLC 09 October 2002 Carclo plc Disposal of Francis W. Birkett & Sons Limited Carclo plc, the technical plastics group, announces the sale of its Francis W. Birkett & Sons Limited ('FWB') non-ferrous castings business to Westley Group Limited on 8 October 2002 for a total cash consideration of £2.4 million. The net book value of the assets being sold at completion was approximately £2.5 million. The disposal of FWB will result in the reinstatement of £0.6 million of goodwill which was previously written off to reserves. The net proceeds arising from the transaction will be used to reduce group indebtedness. FWB's principal activity is the manufacture of specialised non-ferrous castings. In the year to 31 March 2002 FWB had sales of £4.6 million and generated an operating profit before management charges, interest and taxation of £0.3 million. For further information please contact: Carclo plc Ian Williamson, Chief Executive 01924 330 500 Weber Shandwick Square Mile Richard Hews 020 7950 2800 This information is provided by RNS The company news service from the London Stock Exchange

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Carclo (CAR)
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