Cookson Group PLC
25 January 2000
COOKSON SELLS POLY-FLEX BUSINESS
Cookson Group plc ('Cookson'), the international
materials technology group, announces that it has
reached agreement to sell Poly-Flex Circuits Inc.
and Poly-Flex Circuits Ltd. ('Poly-Flex') to Parlex
Corporation (NASDAQ: PRLX) for a cash consideration
of US$19 million (£11.5 million). Poly-Flex is a
manufacturer of polymer thick film (PTF) flexible
circuit assemblies for telecommunications,
appliances and the electronics industry in the UK
and USA. Completion of the transaction is
conditional upon receipt of regulatory approvals
which are expected to be received shortly.
In addition, Cookson has acquired from Parlex
certain patents related to the manufacture of
substrates for thin core laminates. This will
strengthen Cookson's position as a leader in high
performance laminates for the fast growth micro via
market.
Stephen Howard, Cookson's Group Chief Executive,
commented: 'Cookson Electronics plans to grow its PC
Fabrication business by broadening the range of
laminate and chemical products it supplies to the
printed circuit broad fabrication industry. The
products that Poly-Flex offered did not fit with
this strategy and were directed at a different
customer base. The acquisition of the patents from
Parlex will further strengthen our ability to
provide high performance laminates for the strong
growth telecommunications and semiconductor
packaging industries by allowing them to produce
smaller, faster and lighter devices.'
For further information, please contact:
Stephen Howard Dennis Millard
Group Chief Executive Group Finance Director
Cookson Group plc Cookson Group plc
London WC2N 6HJ London WC2N 6HJ
Tel: 0207 766 4500 Tel: 0207 766 4500
Fax: 0207 747 6600 Fax: 0207 747 6600
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