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1,018.00 -32.00 (-3.05%)

Bid:

1,022.00

Ask:

1,054.00

Spread: 32.00 (3.131%)

Market Cap: £233.02m

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AB Dynamics Revs Toward Manufacturing Facility

Thu, 13th Feb 2014 11:45

LONDON (Alliance News) - AB Dynamics PLC Thursday said that Wiltshire Council's Strategic Planning committee formally resolved to grant planning permission for a mixed use development in Bradford on Avon.

The company, which supplies advanced testing systems to the motor industry, said the site will include the group's proposed new purpose manufacturing facility.

The company, which listed on AIM in May 2013, said the next step in the process will be to negotiate and sign an agreement under Section 106 of the Town and Country Planning Act 1990 before the formal planning permission decision notice can be issued by the Council.

AB Dynamics shares were up 5.0% to 158.50 pence Thursday.

By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1