WDNY Widney

RNS Number:8890Z
Widney PLC
09 July 2007


Widney PLC

Widney Pressings



Widney plc announced following receipt of shareholder approval on 20 April 2007,
the sale of the share capital of Widney Pressings Limited ("Pressings") for #1.4
million plus the assumption of debt and the sale of surplus plant and machinery
at Northampton for #750,000.



Whilst Pressings had been an excellent acquisition, the priority at the time was
to reduce Group indebtedness. Following completion of the sale of two freehold
properties for #7 million, the Group is debt free apart from a small working
capital facility.



Despite extensive negotiations to safeguard the interests of employees and
customers, the purchaser was unable to provide adequate assurances in respect of
the funding of the acquisition. As a result, Pressings will remain a core part
of the Widney Group and develop new business in automotive presswork and
construction equipment components.

                                                                     9 July 2007





Enquiries:


Widney Plc                                                Tel: 0121 327 5500
Joe Grimmond, Chairman
Graham Errington, Finance Director

College Hill                                              Tel: 020 7457 2020
Richard Pearson








                      This information is provided by RNS
            The company news service from the London Stock Exchange
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