(Alliance News) - Plastic parts maker Carclo PLC said on Friday that it has disposed of an asset in the Wipac business but talks to sell the whole unit remain ongoing.
The company said that a customer acquired a specialist assembly line with Carclo receiving GBP1.1 million from the purchase and a finance lease company, which also owned part of the asset, receiving GBP1.4 million.
In the same announcement, Carclo also said it separately received EUR3.4 million in respect of design and development balances that were outstanding.
Carclo, which intends to sell the loss-making unit, said in June that it would refocus Wipac back to its "historic low-volume, high-end vehicle markets".
Mid-volume programmes like the specialist assembly line, Carclo said, will be moved by customers to alternative suppliers.
Shares in Carclo were untraded in London on Friday afternoon, last quoted at 10.80 pence each.
Carclo (CAR)