Belcot Tool & Die
03 September 2007 - 8:45PM
UK Regulatory
RNS Number:1720D
Widney PLC
03 September 2007
Widney PLC
Belcot Tool & Die
Widney plc announces that following a detailed assessment of the automotive tool
and die market it has determined to withdraw from the manufacture of automotive
press tools. Belcot will continue with low volume production presswork.
Belcot contributed profits of #181,000 in the six months to 31 March 2007. With
decreasing demand for automotive press tool manufacturing, the Board feels that
better use could be made of the assets employed.
The withdrawal is expected to allow the realisation in due course of some
#800,000 of fixed and current assets for the benefit of the Group.
3 September 2007
Enquiries:
Widney Plc
Joe Grimmond, Chairman 0121 327 5500
Graham Errington, Finance Director 0121 327 5500
Insinger de Beaufort
Chris Caldwell 020 7190 7000
College Hill
Richard Pearson 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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