Coral Products PLC Acquisition (3554M)
20 January 2016 - 2:46AM
UK Regulatory
TIDMCRU
RNS Number : 3554M
Coral Products PLC
19 January 2016
19 January 2016
CORAL PRODUCTS PLC
("Coral" or the "Group")
Acquisition
Coral Products plc, a specialist in the design, manufacture and
supply of injection moulded plastic products, is pleased to
announce that it has purchased the fixed assets, stock and business
of Rotalac Plastics Limited ("Rotalac") from the administrators for
a total consideration of GBP160,000 from the Group's existing cash
resources.
Rotalac, which is based in Manchester, provides bespoke
thermoplastic extrusion and moulding solutions across a number of
industries worldwide, including aerospace, medical and automotive.
Rotalac is also a leader in shutter system design and manufacture
including the branded Tambour range of shutters.
In its last published accounts for the year ended 31 December
2014, Rotalac had sales of GBP3.1 million and operating profit of
GBP134,000 and the net book value of its fixed assets and stock was
GBP708,000 and GBP212,000 respectively.
Coral's Executive Chairman Joe Grimmond commented: "This is an
exciting opportunity and in line with the Group's strategic plan to
broaden our product range. We look forward to integrating Rotalac's
business into the Group."
Enquiries
Coral Products plc Tel: 07703
Joe Grimmond, Executive Chairman 518 148
Nominated Adviser
Cairn Financial Advisers LLP Tel: 020 7148
Avi Robinson / Tony Rawlinson 7900
Broker
Daniel Stewart & Company Limited Tel: 020 7776
David Lawman 6550
Capital Markets Consultants Limited Tel: 07515
Richard Pearson 587184
This information is provided by RNS
The company news service from the London Stock Exchange
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January 19, 2016 10:46 ET (15:46 GMT)