Disposal

RNS Number : 2676G
Cookson Group PLC
20 October 2008
 

 20 October 2008 


PROPOSED SALE OF COOKSON'S HI-TECH CERAMIC FILTERS BUSINESS TO SATISFY FOSECO ANTI-TRUST REQUIREMENTS


Cookson Group plc ('Cookson'), a leading materials science company, announces that it has entered into a conditional agreement to sell its Hi-Tech Ceramics filters business ('Hi-Tech') to Sud-Chemie AG. The Hi-Tech business had revenue of approximately £5 million and trading profit of approximately £1 million in the six month period to 30 June 2008.

Completion of the transaction is conditional, amongst other things, on obtaining regulatory approval from the European Commission. The transaction is expected to complete by the end of this year.

As a condition of the EU and US competition authorities' approvals of the acquisition of Foseco plc ('Foseco') on 4 April 2008, Cookson made commitment to sell Foseco's Carbon Bonded Ceramics business ('CBC'). CBC was sold to RHI AG on 16 April 2008. As a further condition of the European Commission's anti-trust approval of the acquisition of Foseco, Cookson made a commitment to sell Hi-Tech. On completion of the disposal of Hi-Techall anti-trust conditions relating to the Foseco acquisition will have been satisfied.



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Shareholder/analyst enquiries:

 

Nick Salmon, Chief Executive

     Cookson Group plc

Mike Butterworth, Group Finance Director

     Tel: + 44 (0)20 7822 0000

Anna Hartropp, Investor Relations Manager


 

 

Media enquiries:

 

John Olsen/Anthony Arthur

     Hogarth Partnership


     Tel: +44 (0)20 7357 9477


   

About Cookson Group plc 

Cookson Group plc is a leading materials science company operating on a worldwide basis in Ceramics, Electronics and Precious Metals markets.

The Ceramics division is the world leader in the supply of advanced consumable products and systems to the global steel and foundry industries and a leading supplier of speciality products to the glass and solar industries.

The Electronics division is a world leading supplier of advanced surface treatment and plating chemicals and assembly materials to the automotive, industrial, construction and electronics markets.

The Precious Metals division is a leading supplier of fabricated precious metals (primarily gold, silver and platinum) to the jewellery industry in the US, the UKFrance and Spain.


Cookson Group plc, 165 Fleet StreetLondon EC4A 2AE

Registered in England and Wales No. 251977

www.cooksongroup.co.uk 






This information is provided by RNS
The company news service from the London Stock Exchange
 
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