Business
Disposal
Disposal.
About this update from James Latham Plc
[{"type":"text","content":"\n Latham(James) PLC\n04 April 2006\n\n\n\nThe Directors of James Latham plc are pleased to announce the sale of Nevill\nLong Limited, its suspended ceilings, dry lining and partition systems\ndistribution business, to Wolseley UK Limited.\n\n\nThe cash consideration is £10.32m with an adjustment on agreement of the\nCompletion Accounts. The net assets of Nevill Long at 30th September 2005 were\n£3.5m and sales for the half year totalled £12.8m.\n\n\nThe reason for the sale is that Nevill Long is not core to the Group's timber\nbusinesses and the Directors believe Wolseley, with their resources, will\nestablish Nevill Long as a major player in the interior building products\nmarket. The proceeds of the sale will be used to strengthen and develop James\nLatham's timber business.\n\n\nAlthough trading conditions for timber in the current year have become more\nchallenging, results to 31st March 2006 are likely to meet market expectations.\n\n\n\nRJ Latham\nChairman\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1293,"tagName":"div"}]