Yule Catto & Co PLC
01 June 2007
Yule Catto & Co plc
Restructuring at Holliday Pigments
Yule Catto 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
Yule Catto & Co plc announces that it is to restructure its Holliday Pigments
operations, currently located in Kingston-upon-Hull, and at Comines in Northern
France. This restructuring will see pigment production progressively transferred
from Hull to Comines, ultimately leading to the closure of the UK site and the
loss of 95 jobs.
A sales and marketing presence will be retained in the UK, but research and
development will be transferred to Comines, to support continued development of
this site.
Costs associated with this restructuring are expected to be incurred in the
current financial year, but these will eventually be offset by sale of the Hull
site, which is expected to realise a value in excess of the costs associated
with the site closure.
Restructuring of the Holliday Pigments business is in line with Yule Catto's
corporate strategy of reshaping the businesses within its Impact Chemicals
Division, in order to realise maximum value for shareholders.
1 June 2007
ENQUIRIES:
YULE CATTO Tel: 01279 442791
Adrian Whitfield, Chief Executive
COLLEGE HILL Tel: 020 7457 2020
Gareth David
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