Successful Move to New Shire Hill Facility

RNS Number : 2170O

LPA Group PLC

05 August 2014

 



LPA GROUP PLC

Successful Move to New Shire Hill Facility

LPA Group PLC ("LPA" or "the Group"), the LED lighting and electro-mechanical system manufacturer and distributor, is pleased to announce that the planned move of its electro-mechanical business to 'Light and Power House', its new facility at Shire Hill in Saffron Walden, has been carried out successfully. All of LPA's 65 employees at Tudor Works, its old facility, have also re-located.

The move, which was very carefully planned, was achieved with minimal disruption to output, which was in line with customer requirements.

The 44,000 sq. ft. Light and Power House has been fully renovated and refurbished and provides larger, more efficient and fully modernised premises for LPA's rationalised electro-mechanical business. The facility will now be LPA's main centre for electro-mechanical system manufacture and will provide opportunity for expansion in the future.

In addition, the electro-mechanical business has changed its name from LPA Niphan Systems, to LPA Connector Systems to coincide with the move.

LPA expects to fully vacate Tudor Works within a few days triggering payment to LPA of the £1.3m balance of the initial consideration of £2.6m for which the Group sold the property. Depending on the success of the planned redevelopment of the Tudor Works site for housing, there may be additional sums due to the Group in the future.

Peter Pollock, Chief Executive of LPA, commented:

"Our move marks an important step in what is proving to be a very busy year for us. Light and Power House provides a modern and spacious facility from which LPA Connector Systems can continue to grow and to take advantage of the exciting opportunities we are currently seeing in the marketplace.

"We will now move on to complete the reorganisation of our electro-mechanical business and commence a 50% extension to our LED lighting manufacturing facility in Normanton, West Yorkshire."

5^th August 2014

 

ENQUIRIES:

LPA Group plc

Peter Pollock, Chief Executive                                        Tel: [phone] or 01799 512844

Steve Brett, Finance Director                                          Tel: [phone] or 01799 512860

Cairn Financial (Nominated Adviser)                           Tel: [phone]

James Caithie / Avi Robinson

Hume Capital Securities (Broker)                                Tel: [phone]

David Lawman / Guy Peters

Instinctif Partners (PR Adviser)                                    Tel: [phone]

Mark Garraway / Helen Tarbet    

 

END

 

 

NRAEZLFBZVFXBBL