Acquisition

RNS Number : 3554M

Coral Products PLC

19 January 2016

 

19 January 2016

CORAL PRODUCTS PLC

("Coral" or the "Group")

Acquisition

Coral Products plc, a specialist in the design, manufacture and supply of injection moulded plastic products, is pleased to announce that it has purchased the fixed assets, stock and business of Rotalac Plastics Limited ("Rotalac") from the administrators for a total consideration of £160,000 from the Group's existing cash resources.

Rotalac, which is based in Manchester, provides bespoke thermoplastic extrusion and moulding solutions across a number of industries worldwide, including aerospace, medical and automotive. Rotalac is also a leader in shutter system design and manufacture including the branded Tambour range of shutters.  

In its last published accounts for the year ended 31 December 2014, Rotalac had sales of £3.1 million and operating profit of £134,000 and the net book value of its fixed assets and stock was £708,000 and £212,000 respectively.

Coral's Executive Chairman Joe Grimmond commented: "This is an exciting opportunity and in line with the Group's strategic plan to broaden our product range. We look forward to integrating Rotalac's business into the Group."

Enquiries

Coral Products plc Joe Grimmond, Executive Chairman	Tel: [phone]
Nominated Adviser Cairn Financial Advisers LLP Avi Robinson / Tony Rawlinson	Tel: [phone]
Broker Daniel Stewart & Company Limited David Lawman	Tel: [phone]
Capital Markets Consultants Limited Richard Pearson	Tel: [phone]

 

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