Disposal

RNS Number : 8661X

Melrose PLC

24 August 2009

 



Melrose PLC                                                                                                        24 August 2009

MELROSE PLC

("Melrose")

SALE OF CRISPLANT (the "Disposal")

Melrose is pleased to announce the sale of Crisplant (formerly known as FKI Logistex Europe) ("Crisplant"), to Beumer Group for a total consideration of €30 million payable in cash on completion. Completion of the Disposal is expected to take place within the next three weeks.

Crisplant is a leading provider of energy efficient sorting solutions world-wide providing high speed, automated sortation technology, systems integration and lifetime support for airport, postal, parcel distribution, warehouse and distribution facilities in Europe, Middle East, Africa and Asia.

In the six months to 30 June 2009, Crisplant made an operating profit before exceptional costs of €9.1 million and had net assets of €32.3 million1 at 30 June 2009.

The sale proceeds will be used to reduce group debt. 

Christopher Miller, Chairman of Melrose, stated:

"We are pleased to announce the disposal of Crisplant. We believe Beumer is extremely well positioned to further the development of the business and wish them every future success."

Enquiries:

M:Communications

James Hill                                                                                            [phone]

Rothschild

Financial Advisor

Ravi Gupta                                                                                           [phone]

1 Crisplant had gross assets of €86.3 million and liabilities of €54.0 million as at 30 June 2009

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