Business
Sale of PFW Aroma Chemicals B
Sale of PFW Aroma Chemicals B.
About this update from Synthomer Plc
[{"type":"text","content":"\n RNS Number : 5124J Yule Catto & Co PLC 04 December 2008 \n \n\n\nYule Catto & Co. plc\n\n\nSale of PFW Aroma Chemicals BV\n\nYule Catto & Co plc ('Yule Catto' or the 'Company') is an international producer of speciality chemicals, supplied to global customers for use in a wide range of industries including pharmaceuticals, FMCG, paints and adhesives.\n\nYule Catto is pleased to announce that it has sold the entire issued share capital of PFW Aroma Chemicals BV (PFW) to Keva UK Limited for a gross cash consideration of Euros 6.75 million paid in full.\n\nThe proceeds of the sale received by Yule Catto will be used to reduce the Company's borrowings.\n\nPFW manufactures aroma chemicals for the fragrance and flavour industry. In the 12 months to 31 December 2007 it made an operating profit of Euros 497,000 and had gross assets of Euros 8,996,000.\n\nPoul Spierings will continue as Managing Director of the company.\n\nAdrian Whitfield, Chief Executive, commented:\n\n'With this disposal we are now at an advanced stage in our stated strategy of delivering increased shareholder value from the Impact Chemicals Division. The total value realised from the sale of these businesses in 2008 is approximately £55 million.'\n\n4 December 2008\n\n Enquires:\n \n\n\n\n\n\nYule Catto & Co plc \n\n\nTel: 01279 442791\n\n\n\n\nAdrian Whitfield, Chief Executive\n\n\n \n\n\n\n\nDavid Blackwood, Finance Director\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nCollege Hill\n\n\nTel: 020 7457 2020\n\n\n\n\nGareth David\n\n\n \n\n\n\n\n \n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISBRBDDCDGGGIX \n ","length":7425,"tagName":"div"}]