Business
Closure of Devon facilities
Closure of Devon facilities.
About this update from Tandem Group Plc
[{"type":"text","content":"\n Tandem Group PLC\n13 December 2005\n\n Tandem Group plc\n\n Closure of facilities in Devon\n\n\nTandem Group plc, the sports and leisure equipment manufacturer and distributor,\nis issuing an update on its Pot Black snooker, pool and outdoor leisure\nbusiness.\n\nIn our interim statement issued on 24 August 2005 we reported that the decision\nhad been made to merge the Pot Black operations within the Group's MV Sports &\nLeisure business and that the assembly operations in Devon would significantly\nreduce or cease. The sales and administrative functions were combined at the\nbeginning of August resulting in cost savings.\n\nThe Pot Black assembly operations will cease in January 2006. At the same time\nthe Pot Black distribution facility in Devon will be closed and moved to the\nWest Midlands alongside the Group's MV Sports & Leisure, Dawes Cycles and Ben\nSayers businesses. As a result additional costs and provisions will be incurred\ntaking the total exceptional restructuring costs of Pot Black to around £1.2\nmillion for the year.\n\nIt is expected that the Group's turnover for the year to 31 January 2006 will be\napproximately £42 million with an operating loss around £150k, before\nexceptional items and goodwill amortisation.\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1556,"tagName":"div"}]