Business
Completed Sale of Brock Metal
Completed Sale of Brock Metal.
About this update from Alumasc Group Plc
[{"type":"text","content":"\n Alumasc Group PLC\n02 July 2007\n\n\nEMBARGOED - 2 July 2007 - 7 am\n\n\n2nd July 2007\n\n\n The Alumasc Group PLC\n\n Alumasc Completes Sale of Brock Metal\n\n\nThe Alumasc Group plc (ALU.L), the premium building and engineering products\ngroup, confirms that, on 29th June, it completed the sale of the Brock Metal\nbusiness, the leading UK supplier of zinc and aluminium die-casting alloys, to\nChelyabinsk Zinc Plant (\"CZP\") for cash consideration of £8.15 million, subject\nto completion accounts adjustment.\n\nAs announced on 8th June 2007, Alumasc will retain ownership of Brock's freehold\nfactory near Cannock, which has an estimated value of £1.5 million and will be\nleased to CZP. All of Brock's existing management team and employees will\ntransfer with the business.\n\nCZP (CHZN) is the leading producer of SHG zinc and zinc alloys in Russia.\n\nPaul Hooper, Chief Executive of Alumasc, said:\n\n\"The sale of Brock Metal, and the acquisition in May of Levolux, demonstrates\nthe Group's focus on further growing the profitability of its core niche premium\nbuilding and precision engineering products businesses.\"\n\n\nEnquiries:\n\nThe Alumasc Group plc 01536 383844\nPaul Hooper (Chief Executive)\n\nBankside Consultants Limited \nCharles Ponsonby 020 7367 8851\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":1499,"tagName":"div"}]