Business
SRF and Trading Update
SRF and Trading Update.
About this update from Mpac Group Plc
[{"type":"text","content":"\n Molins PLC\n19 December 2006\n\n\n\n19 DECEMBER 2006 FOR IMMEDIATE RELEASE\n\n\n MOLINS PLC\n\n SANDIACRE ROSE FORGROVE & TRADING UPDATE\n\n\nSandiacre Rose Forgrove\n\nMolins PLC, the international specialist engineering group, completed the sale\nof its Sandiacre Rose Forgrove packaging machinery business ('SRF') to Hayssen\nEurope Limited and Hayssen Inc. (together 'Hayssen') for £3m in cash, on 18\nDecember 2006. The sale was announced on 28 November subject only to the\ncompletion of information exchange and consultation with the UK based employees\nof SRF.\n\n\nAs previously stated, the Nottingham property from which SRF operates, currently\nleased to Hayssen, will be marketed for sale. The property has an estimated\nmarket value in excess of £4m and a book value of £1.8m.\n\n\nTrading Update\n\nThe final transfer of the assembly and machining operations from Saunderton to\nthe Czech Republic is progressing to plan and will be completed shortly. The\ncharge for this reorganisation will be reported in the second half year's\nresults. As previously advised trading profits for this division are expected\nto be lower than in 2005.\n\n\nOrder intake in the Packaging Machinery division has been encouraging and the\ndivision has a strong order book for delivery in 2007. The division will\ndeliver an increase in sales and profits in the second half of the year compared\nwith the first half.\n\n\nThe Scientific Services division is expected to have sustained its progress in\nthe year.\n\n\n\nEnquiries: Molins PLC Tel: 01908 219000\n Peter Byrom, Chairman\n David Cowen, Group Finance Director\n\n\nIssued by: Citigate Dewe Rogerson Tel: 020 7638 9571\n Margaret George\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2062,"tagName":"div"}]