Last checked at 17 Jul 2009 15:01
RNS Number : 8935V
Avingtrans PLC
17 July 2009
Avingtrans plc (the "Group")
Settlement of claim
Avingtrans plc is pleased to announce that settlement has been reached in respect of the Group's claim against the vendors of B&D Patterns Ltd ("B&D") relating to the purchase of B&D by Avingtrans plc on 21 September 2006 as highlighted in the 2008 Chairman's Statement.
Under the settlement, the vendors of B&D have agreed to pay Avingtrans £1.25 million inclusive of costs.
Commenting on the settlement, Steve McQuillan, Chief Executive of Avingtrans, said:
"I am very pleased that an amicable agreement has been reached with the vendors of B&D which I believe represents a fair resolution of our claim".
Enquiries:
Steve McQuillan, CEO
0115 949 9020
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