Information  X 
Enter a valid email address

Kalamazoo Comp Grp. (KLMZ)

  Print      Mail a friend

Thursday 06 January, 2000

Kalamazoo Comp Grp.

Discussions Entered re Disposal of Subsidiary

Kalamazoo Computer Group PLC
6 January 2000

                              
                     Kalamazoo Answer Ltd

Kalamazoo Computer Group plc ('Kalamazoo') announces that it
has entered into discussions with a view to disposing of the
business of its subsidiary company, Kalamazoo Answer Ltd
('Answer') to Answer Solutions Ltd. Answer, which is located
in South Wales, specialises in the development of software
solutions primarily for food, drink and pharmaceutical
manufacturers.

The business, which will be sold for a nominal consideration
had net liabilities as at 31 March 1999 of £1,015,000 and made
a loss before tax of £258,000 in the year ended 31 March 1999.
The sale is expected to result in an exceptional charge in the
year ending 31 March 2000 of £3,280,000, including £3,000,000
relating to goodwill previously written off to reserves.

Kalamazoo purchased Answer five years ago and, with the
exception of the first fifteen months, the business has not
traded profitably.


For further information:

Malcolm Roberts, Chief Executive
Mike Farley, Director
Kalamazoo Computer Group                       0121 411 2345

Richard Darby
Buchanan Communications                        0207 466 5000

                         

a d v e r t i s e m e n t