DCC PLC
30 March 2000
DCC Realises Gain of EUR 18.0 million on Sale of ITP
30 March 2000
DCC plc, the value added marketing and distribution group,
announces that its wholly owned subsidiary, SerCom Solutions
Limited, has agreed to sell its 90% owned subsidiary,
International Translation & Publishing Limited ('ITP'), to SDL
plc, a UK software, internet products and services company.
Jim Flavin, Chief Executive & Deputy Chairman of DCC, said
today:
'On 27 September 1999 DCC announced that its subsidiary SerCom
Solutions had expanded its range of services to the IT and
telecommunications sectors to embrace supply chain management
and e-commerce fulfilment. In order to focus the development
of SerCom Solutions on these exciting growth areas we have
decided to sell ITP, the specialist localisation business.'
SerCom Solutions will receive a cash consideration on the
disposal of ITP of EUR 19.8 million and SDL will also assume
ITP's bank debt at completion (currently amounting to
approximately EUR 3.6 million). The sale will result in a gain
for DCC before tax on book value of approximately EUR 18.0
million.
SerCom Solutions is a leading supplier of outsourced supply
chain management services to the IT and telecommunications
industries. Its customers include 3Com, Canon, Dell, IBM,
Lucent, Mattel Interactive, Microsoft, Motorola and Nortel
Networks. Given the pace of new product development, these
new companies are increasingly outsourcing key aspects of
their supply chain in order to achieve shorter lead times to
market, reduced inventory levels and more cost effective and
efficient distribution. In order to capitalise on this growing
trend SerCom Solutions is enhancing its IT systems and
developing a range of e-commerce solutions.
For reference:
Michael Scholefield Tel: +353 1 283 1011
Investor Relations Manager www.dcc.ie
*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.