Purchase of certain assets from Dudson Holdings

RNS Number : 1781V

Churchill China PLC

04 April 2019

 

4 April 2019

CHURCHILL CHINA plc

("Churchill China" or the "Company" or the "Group")

Purchase of certain assets from Dudson Holdings Limited (in Administration)

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, has purchased certain intangible and tangible assets from Dudson Holdings Limited and Dudson Limited (both in Administration) ("Dudson") for a total consideration of £2.1 million, funded from the Group's existing cash resources.  The purchase does not include the Dudson group operating businesses.

£1.5 million of the consideration is for the Dudson brand and for intellectual property in respect of two of Dudson's product ranges, 'Harvest' and 'Evo'.  Dudson is a long established manufacturer of performance vitrified ceramic tableware based in Stoke on Trent and has operated in similar markets to Churchill. Certain plant and equipment has also been purchased for £0.6 million.

The assets purchased are complementary to our existing strategic plan and will allow Churchill to further extend its offering of differentiated added value products.

For further information, please contact:

Churchill China plc	Tel: [phone]
David O'Connor / David Taylor
Buchanan	Tel: [phone]
Mark Court / Sophie Wills / Hannah Ratcliff
N+1 Singer	Tel: [phone]
Richard Lindley / James White / Rachel Hayes

 

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