Alumasc Group PLC
02 July 2007
EMBARGOED - 2 July 2007 - 7 am
2nd July 2007
The Alumasc Group PLC
Alumasc Completes Sale of Brock Metal
The Alumasc Group plc (ALU.L), the premium building and engineering products
group, confirms that, on 29th June, it completed the sale of the Brock Metal
business, the leading UK supplier of zinc and aluminium die-casting alloys, to
Chelyabinsk Zinc Plant ("CZP") for cash consideration of £8.15 million, subject
to completion accounts adjustment.
As announced on 8th June 2007, Alumasc will retain ownership of Brock's freehold
factory near Cannock, which has an estimated value of £1.5 million and will be
leased to CZP. All of Brock's existing management team and employees will
transfer with the business.
CZP (CHZN) is the leading producer of SHG zinc and zinc alloys in Russia.
Paul Hooper, Chief Executive of Alumasc, said:
"The sale of Brock Metal, and the acquisition in May of Levolux, demonstrates
the Group's focus on further growing the profitability of its core niche premium
building and precision engineering products businesses."
Enquiries:
The Alumasc Group plc 01536 383844
Paul Hooper (Chief Executive)
Bankside Consultants Limited
Charles Ponsonby 020 7367 8851
This information is provided by RNS
The company news service from the London Stock Exchange