Avon Protection Regulatory News (AVON)

14 Aug 2006 07:00

Avon Rubber PLC14 August 2006 14 August 2006 AVON RUBBER PLC ("Avon Rubber" or the "Group") Completion of Disposal On 22 May 2006 Avon Rubber announced that it had entered into a conditionalagreement to sell Avon Automotive to Petrol Automotive Holdings Inc., a companyestablished and controlled by Red Diamond Capital Partners, L.P. and amanagement team led by Leland Richards. On 1 August 2006 Avon Rubber announced an extended period of completion due tothe delayed finalisation of certain legal requirements in the Czech Republic.The finalisation of these requirements and the delayed closing have increasedthe costs associated with the transaction by approximately £1.0 million. All conditions having been satisfied, completion of the disposal of AvonAutomotive has now taken place. - Ends - For further enquiries, please contact: Avon Rubber p.l.c 01225 896831Terry Stead, Chief ExecutivePeter Slabbert, Group Finance Director (Local/Trade Press) 01225 896300Fiona Stewart Weber Shandwick | Square Mile 020 7067 0700Richard Hews / Rachel Taylor / Stephanie Badjonat NOTES TO EDITORS: Avon Rubber p.l.c. is an international polymer engineering group adding valuethrough material, manufacturing and industry sector expertise. The Group iscurrently capitalised at approximately £54 million. This information is provided by RNS The company news service from the London Stock Exchange