Elektron PLC
02 December 2002
For immediate release: 2 December 2002
ELEKTRON SUBSIDIARY IS PUT INTO LIQUIDATION
Elektron Plc ('Elektron'), the AIM quoted electromechanical components and power
electronics group, announces that the directors of Bulgin Power Source Plc, its
wholly owned loss making power supply subsidiary, have appointed liquidators to
take the company into a creditors voluntary liquidation.
Brian Emerson, Chief Executive of Elektron Plc and Chairman of Bulgin Power
Source Plc commented:
'Faced with mounting losses and a severely weakened market, Bulgin Power Source
was no longer considered to be viable and continued financial support from
Elektron could not be justified. We have taken this step to strengthen the
Group's cash flows and to allow us to concentrate on the stronger business
units.'
For further information please contact:
Brian Emerson Lulu Bridges
Chief Executive Katy Pratt
Elektron Plc Tavistock Communications Ltd
Tel: 01245 494542 Tel: 020 7600 2288
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