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Melrose Ind Regulatory News (MRO)
Regulatory News for Melrose Ind (MRO)
| Share Price: 262.90 | Bid: 262.60 | Ask: 262.90 | Change: 2.70 (+1.04%) |  | ||||||
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Disposal of MPC
Tue, 26th Jun 2012 09:00
RNS Number : 1381G
Melrose PLC
26 June 2012
?
26 June 2012
MELROSE PLC
('MELROSE' OR 'THE COMPANY')
DISPOSAL OF MPC
Yesterday Melrose signed and closed the sale of its UK injection moulding business, McKechnie Engineered Plastics Limited trading as McKechnie Plastic Components (MPC), for a cash consideration of £30.7m to Rosti A/S. The sale proceeds will be used to reduce net debt. At 31 December 2011 the company had gross assets of £46m and net assets of £26.6m.
The acquisition of McKechnie, along with the Dynacast businesses, in May 2005 for a net equity investment of £243.6m has resulted in total cash generation, including all disposal proceeds and the repayment of debt, of nearly £800m - giving a return on initial equity of approximately 3.25 times.
Christopher Miller, Chairman of Melrose, stated:
"MPC is the final piece of the successful Dynacast and McKechnie acquisition to be sold, it has performed well as part of the Melrose group and we wish the management team every success for the future."
-ends-
Enquiries:
|
M:Communications |
|
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Nick Miles/Ann-marie Wilkinson/Andrew Benbow |
+44 (0)20 7920 2330 |
This information is provided by RNS
The company news service from the London Stock Exchange
| Date | Source | Headline | Category |
|---|---|---|---|
| 20-May-13 09:00 | RNS | Director/PDMR Shareholding | Directors' Dealings |
| 15-May-13 10:29 | RNS | Holding(s) in Company | Holding(s) in Company |
| 09-May-13 10:30 | RNS | Director/PDMR Shareholding | Directors' Dealings |
| 08-May-13 12:00 | RNS | Result of AGM | Results and Trading Reports |
| 08-May-13 07:00 | RNS | AGM and Interim Management Statement | Company Announcement - General |
| 01-May-13 07:01 | RNS | Disposal | Mergers, Acquisitions and Disposals |
| 18-Apr-13 07:00 | RNS | Site Visit | Company Announcement - General |
| 08-Apr-13 10:49 | RNS | Publication of 2012 Annual Report/Notice of AGM | Company Announcement - General |
| 25-Mar-13 18:00 | RNS | Director/PDMR Shareholding | Directors' Dealings |
| 06-Mar-13 07:00 | RNS | Final Results | Results and Trading Reports |
| 19-Feb-13 14:45 | RNS | Holding(s) in Company | Holding(s) in Company |
| 23-Jan-13 07:00 | RNS | Notice of Results | Advance Notice of Results |
| 05-Dec-12 11:04 | RNS | Holding(s) in Company | Holding(s) in Company |
| 30-Nov-12 11:53 | RNS | Holding(s) in Company | Holding(s) in Company |
| 30-Nov-12 11:53 | RNS | Holding(s) in Company | Holding(s) in Company |
| 29-Nov-12 13:52 | RNS | Reduction of capital becomes effective | Company Announcement - General |
| 27-Nov-12 08:42 | RNS | SCHEME EFFECTIVE DATE | Company Announcement - General |
| 26-Nov-12 17:37 | RNS | COURT SANCTION OF SCHEME OF ARRANGEMENT | Company Announcement - General |
| 23-Nov-12 08:08 | RNS | Holding(s) in Company | Holding(s) in Company |
| 22-Nov-12 14:46 | RNS | Update of Prospectus | Company Announcement - General |
| 16-Nov-12 07:00 | RNS | Interim Management Statement | Company Announcement - General |
| 05-Nov-12 09:38 | RNS | Results of Court Meeting and General Meeting | Results and Trading Reports |
| 24-Oct-12 16:54 | RNS | Conditional Redemption of Senior Notes | Company Announcement - General |
| 22-Oct-12 15:34 | RNS | Results of Offer to Purchase Senior Notes | Company Announcement - General |
| 12-Oct-12 12:05 | RNS | Redemption of Senior Notes | Company Announcement - General |
| 12-Oct-12 11:08 | RNS | Posting of Circular and Publication of Prospectus | Company Announcement - General |
| 28-Sep-12 17:33 | RNS | Holding(s) in Company | Holding(s) in Company |
| 24-Sep-12 17:08 | RNS | Holding(s) in Company | Holding(s) in Company |
| 17-Sep-12 16:39 | RNS | Elster Bond Change of Control Offer | Company Announcement - General |
| 07-Sep-12 09:46 | RNS | Form 8.5 (EPT/RI) | Company Announcement - General |
Regulatory news is displayed end of day, each day at 19:00.
