Meggitt PLC Disposal of Precision Micro (8092L)
24 April 2018 - 4:00PM
UK Regulatory
TIDMMGGT
RNS Number : 8092L
Meggitt PLC
24 April 2018
24 April 2018
Meggitt PLC
("Meggitt")
Disposal of Precision Micro
Meggitt PLC ("Meggitt" or "the Group"), a leading international
company specialising in high performance components and sub-systems
for the aerospace, defence and energy markets, today announces that
it has sold Precision Micro, specialists in production photo
etching for the automotive and medical sectors, to LDC, the private
equity arm of Lloyds Banking Group for GBP22.5 million in cash.
During the year to 31 December 2017, Precision Micro generated
GBP15 million revenue.
This transaction is consistent with Meggitt's strategy to focus
on businesses of scale in attractive markets where our leading
positions offer greater potential for growth and operational
efficiencies.
Enquiries
Meggitt PLC +44 (0)1202 597 597
Adrian Bunn, Vice President Strategy and Investor Relations
FTI Consulting +44 (0)20 3727 1000
Deborah Scott, Senior Managing Director
Nick Hasell, Managing Director
Cautionary statement
This trading update, including information included or
incorporated by reference in this trading update, may contain
forward-looking statements concerning Meggitt PLC or its group.
Generally, the words "will", "may", "should", "continue",
"believes", "expects", "intends", "anticipates" or similar
expressions identify forward-looking statements. Such
forward-looking statements involve risks, uncertainties and other
important factors which could cause the actual results, performance
or achievements of the Meggitt group or the market and economies in
which the Meggitt group operates to be materially different from
those expressed or implied by such forward-looking statements. Many
of these risks and uncertainties relate to factors that are beyond
the ability of Meggitt PLC or its directors to control or estimate
precisely, such as future market conditions and the behaviours of
other market participants, and therefore undue reliance should not
be placed on such statements, which speak only as at the date of
this trading update. Neither Meggitt PLC, nor any of its group
undertakings, nor the directors of any of them, assumes any
obligations to, and do not intend to, update these forward-looking
statements, except as required pursuant to applicable law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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