Business
Property Disposals
Property Disposals.
About this update from Carclo Plc
[{"type":"text","content":"\n Carclo plc\n01 December 2006\n\n\n\nFor Immediate Release 1 December 2006\n\n Carclo plc\n ('Carclo')\n\n Carclo announces £6million property disposals\n\nCarclo plc ('Carclo') has several surplus properties arising from the\nrestructuring undertaken in recent years as the group pursues its strategy to\nfocus on its core technical plastics businesses and to expand its capacity in\nlow cost manufacturing regions.\n\nCarclo announces that it has exchanged contracts for the sale of its surplus\nproperty at Plover Mills in Huddersfield. The property will be sold for £5.4\nmillion in cash to Miller Homes and will result in a profit, after costs, of\n£3.6 million. The 4 1/2 acre site is currently occupied by Bekaert Carding\nSolutions who acquired Carclo's card clothing business in 2005 and are scheduled\nto vacate the site in January 2007. Outline planning permission for residential\ndevelopment has been granted by Kirklees Metropolitan Council. Completion of the\nsale will occur on the earlier date of 30 March 2007 or 10 working days after\nobtaining vacant possession.\n\nCarclo has also sold a surplus 1.9 acre factory site at Eaglescliffe, Stockton\non Tees to Masada Developments for £560,000 in cash, resulting in a profit,\nafter costs, of £100,000.\n\nThe total proceeds of around £6.0 million from the sale of these two properties \nwill be used to reduce group debt. The group's remaining portfolio of surplus \nproperties has a net book value of £2.8 million of which £1.5 million is \nexpected to be sold in the current financial year.\n\nCarclo will be announcing its interim results on 5 December 2006.\n\n - Ends -\n\nEnquiries:\nCarclo plc 01924 268040\nIan Williamson, Chief Executive\nRobert Brooksbank, Finance Director\n\nWeber Shandwick | Square Mile 020 7067 0700\nRichard Hews\nJames White\n\nNotes to Editors\n\n• Carclo plc is a global supplier of technical plastic components. It is a \npublic company whose shares are quoted on the London Stock Exchange.\n\n• 70% of sales are derived from the supply of fine tolerance, injection moulded \nplastic components, which are used in medical, automotive, telecom and \nelectronics products. This business, Carclo Technical Plastics, operates \ninternationally in a fast growing and dynamic market underpinned by rapid \ntechnological development.\n\n• 30% of sales are de...