Ricardo completes sale of technical facility

RNS Number : 5377J

Ricardo PLC

03 April 2018

 

3 April 2018

RICARDO PLC

("Ricardo" or the "Group")

RICARDO COMPLETES SALE OF CHICAGO TECHNICAL FACILITY TO POWER SOLUTIONS INTERNATIONAL

Ricardo plc is a global engineering, technical, environmental and strategic consultancy business, which also manufactures and assembles niche, high-quality and high-performance products.

Ricardo today announces that it has completed the $ 5.5m sale of its Chicago technical facility to Power Solutions International ("PSI"), as per the RNS announcement on 5 March 2018.

As previously announced, Ricardo is re-locating its heavy-duty test operations to its existing Detroit facility and has entered into a strategic technology relationship with PSI which will complement its already well-established operations in North America.

-ENDS-

Further enquiries:
Ricardo plc	Tel: [phone]
Dave Shemmans, Chief Executive Officer Ian Gibson, Chief Financial Officer	Website: www.ricardo.com
Newgate Communications	Tel: [phone]
Adam Lloyd / Zoë Sibree / Ed Treadwell	[e-mail]

NOTES TO EDITORS:

Ricardo plc is a global, world-class, multi-industry consultancy for engineering, technology, project innovation and strategy. Our people are committed to providing outstanding value through quality engineering solutions focused on high efficiency, low emission, class-leading product innovation and robust strategic implementation. With a century of delivering excellence and value through technology, our client list includes the world's major transportation original equipment manufacturers, supply chain organizations, energy companies, financial institutions and governments. Guided by our corporate values of respect, integrity, innovation and passion, we enable our customers to achieve sustainable growth and commercial success. Ricardo is listed in the FTSE4Good Index, which identifies global companies that demonstrate strong environmental, social and governance (ESG) practices. Ricardo, Inc. is the US subsidiary of Ricardo plc. For more information, visit www.ricardo.com. 

 

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