Acquisition

RNS Number : 3554M
Coral Products PLC
19 January 2016
 

19 January 2016

CORAL PRODUCTS PLC

("Coral" or the "Group")

 

Acquisition

 

Coral Products plc, a specialist in the design, manufacture and supply of injection moulded plastic products, is pleased to announce that it has purchased the fixed assets, stock and business of Rotalac Plastics Limited ("Rotalac") from the administrators for a total consideration of £160,000 from the Group's existing cash resources.

 

Rotalac, which is based in Manchester, provides bespoke thermoplastic extrusion and moulding solutions across a number of industries worldwide, including aerospace, medical and automotive. Rotalac is also a leader in shutter system design and manufacture including the branded Tambour range of shutters.  

 

In its last published accounts for the year ended 31 December 2014, Rotalac had sales of £3.1 million and operating profit of £134,000 and the net book value of its fixed assets and stock was £708,000 and £212,000 respectively.

 

Coral's Executive Chairman Joe Grimmond commented: "This is an exciting opportunity and in line with the Group's strategic plan to broaden our product range. We look forward to integrating Rotalac's business into the Group."

 

 

 

 

Enquiries

 

Coral Products plc

Joe Grimmond, Executive Chairman

 

Tel: 07703 518 148

 

Nominated Adviser

Cairn Financial Advisers LLP

Avi Robinson / Tony Rawlinson

 

 

Tel: 020 7148 7900

Broker

Daniel Stewart & Company Limited

David Lawman

 

 

Tel: 020 7776 6550

 

Capital Markets Consultants Limited

Richard Pearson

Tel: 07515 587184

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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