Business
Acquisition
Acquisition.
About this update from Coral Products Plc
[{"type":"text","content":"\n \nRNS Number : 3554M Coral Products PLC 19 January 2016 \n\n19 January 2016\nCORAL PRODUCTS PLC\n(\"Coral\" or the \"Group\")\n \nAcquisition\n \nCoral 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. \n \nRotalac, 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. \n \nIn 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. \n \nCoral'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.\"\n \n \n \n \nEnquiries\n \n\n\n\n\nCoral Products plc\nJoe Grimmond, Executive Chairman\n \n\n\nTel: 07703 518 148\n \n\n\n\n\nNominated Adviser\nCairn Financial Advisers LLP\nAvi Robinson / Tony Rawlinson\n \n\n\n \nTel: 020 7148 7900\n\n\n\n\nBroker\nDaniel Stewart & Company Limited\nDavid Lawman \n \n\n\n \nTel: 020 7776 6550\n \n\n\n\n\nCapital Markets Consultants Limited\nRichard Pearson\n\n\nTel: 07515 587184\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQEASFNFLSKEFF\n ","length":4063,"tagName":"div"}]