Norish PLC
19 June 2000
NORISH PLC
SALE OF MINORITY SHAREHOLDING
IN CASTLEBLAYNEY COLD STORES
Norish plc ('Norish') announces the disposal of its 30% minority interest in
the cold storage business operated at Castleblayney, Co. Monaghan for a cash
consideration of STG£300,000. The interest has been purchased by the majority
shareholder in the business, the Molloy & Sherry Group. The funds will be
utilised to reduce Norish borrowings.
Norish's share of the profits of its associated undertaking for the year ended
31 December 1999 was STG£194,000 and the net assets were not consolidated in
the Norish accounts.
Norish has concentrated on developing its business in Britain in recent years
and recently expanded its cold storage network further in that market with the
acquisition of East Kent Cold Storage Company Ltd. During 1999 Norish
acquired a leading UK ambient warehousing group, BWA, which specialises in
storage and added-value services to the cocoa and coffee industries.
For reference:
Murray Consultants:
Joe Murray Tel: 353 1 632 6400