Business
Divisional restructuring
Divisional restructuring.
About this update from Synthomer Plc
[{"type":"text","content":"\n Yule Catto & Co PLC\n01 June 2007\n\nYule Catto & Co plc\n\nRestructuring at Holliday Pigments\n\nYule Catto is an international producer of speciality chemicals, supplied to\nglobal customers for use in a wide range of industries including\npharmaceuticals, FMCG, paints and adhesives\n\nYule Catto & Co plc announces that it is to restructure its Holliday Pigments\noperations, currently located in Kingston-upon-Hull, and at Comines in Northern\nFrance. This restructuring will see pigment production progressively transferred\nfrom Hull to Comines, ultimately leading to the closure of the UK site and the\nloss of 95 jobs.\n\nA sales and marketing presence will be retained in the UK, but research and\ndevelopment will be transferred to Comines, to support continued development of\nthis site.\n\nCosts associated with this restructuring are expected to be incurred in the\ncurrent financial year, but these will eventually be offset by sale of the Hull\nsite, which is expected to realise a value in excess of the costs associated\nwith the site closure.\n\nRestructuring of the Holliday Pigments business is in line with Yule Catto's\ncorporate strategy of reshaping the businesses within its Impact Chemicals\nDivision, in order to realise maximum value for shareholders.\n\n 1 June 2007\n\nENQUIRIES:\n\n\nYULE CATTO Tel: 01279 442791\nAdrian Whitfield, Chief Executive\n\nCOLLEGE HILL Tel: 020 7457 2020\nGareth David\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1815,"tagName":"div"}]