Yule Catto & Co PLC
15 May 2000
YULE CATTO & CO PLC ('YULE CATTO')
Sale of the business of Williaam Cox Plastics Stockholding Limited.
Yule Catto announces that the sale of the business of Williaam Cox Plastics
Stockholding Limited ('the Company') to Robert Horne Paper Company Limited was
completed on Friday 12 May.
The Company sold its business of the distribution of sheet plastics for a
provisional consideration of £7.8 million paid in cash at completion,
representing a premium of £3.8 million to the estimated value of the net assets
being transferred at completion. The provisional consideration will be adjusted
to reflect the actual value of the net assets transferred on a pound for pound
basis.
The sale follows the disposal of the rooflights businesses of Yule Catto earlier
this month and is a further step in the policy of concentrating on the
development of its speciality chemicals activities.
Commentating on the transaction Alex Walker, Chief Executive, said:
'We are pleased to have concluded this transaction so soon after the sale of our
rooflights businesses and look forward to directing the funds released to
further develop our chemical activities.'
For further information contact Alex Walker, Chief Executive
Tel: 01279 442791