Chemring Group PLC - Disposal
26 10월 1999 - 7:49PM
UK Regulatory
RNS No 6163m
CHEMRING GROUP PLC
26 October 1999
CHEMRING SELLS NON-CORE BUSINESS
Chemring Group PLC announces the sale of the business of Chemring Plating
Systems for a cash consideration of #240,000 which reflects the book value of
the assets sold. The acquiror is Kraftelektronik AB of Sweden. In the
Interim Report for the half year to 1 May 1999, Chemring Plating Systems was
treated as a business under review and made a loss of #776,000. Action was
taken to reduce the losses in the second half. The proceeds will be used to
reduce the Group's net debt.
Enquiries:
Paul Rayner Finance Director Chemring 01489 881880
Peter Gaze Director Cardew & Co. 0171 930 0777
END
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