Sale of PFW Aroma Chemicals B

RNS Number : 5124J

Yule Catto & Co PLC

04 December 2008

 



Yule Catto & Co. plc

Sale of PFW Aroma Chemicals BV

Yule Catto & Co plc ('Yule Catto' or the 'Company') is an international producer of speciality chemicals, supplied to global customers for use in a wide range of industries including pharmaceuticals, FMCG, paints and adhesives.

Yule Catto is pleased to announce that it has sold the entire issued share capital of PFW Aroma Chemicals BV (PFW) to Keva UK Limited for a gross cash consideration of Euros 6.75 million paid in full.

The proceeds of the sale received by Yule Catto will be used to reduce the Company's borrowings.

PFW manufactures aroma chemicals for the fragrance and flavour industry. In the 12 months to 31 December 2007 it made an operating profit of Euros 497,000 and had gross assets of Euros 8,996,000.

Poul Spierings will continue as Managing Director of the company.

Adrian Whitfield, Chief Executive, commented:

'With this disposal we are now at an advanced stage in our stated strategy of delivering increased shareholder value from the Impact Chemicals Division. The total value realised from the sale of these businesses in 2008 is approximately £55 million.'

4 December 2008

      Enquires:

Yule Catto & Co plc	Tel: [phone]
Adrian Whitfield, Chief Executive
David Blackwood, Finance Director
College Hill	Tel: [phone]
Gareth David

 

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