Last checked at 6 Sep 2010 07:00
Strictly embargoed until 07:00 6 September 2010
AVON RUBBER p.l.c.
("Avon", the "Group" or the "Company")
SALE AND LEASEBACK OF CADILLAC FACILITY
Avon announces the completion of the sale and leaseback of their Avon Protection Systems facility in Cadillac, Michigan, USA to RMD Cadillac, LLC and two other purchasers. The transaction has a sale value of $2.6m (£1.7m) and the net proceeds after fees and other associated costs will approximate the net book value of this asset on disposal. The net proceeds of $2m (after tax) will be used to pay down debt.
For further enquiries, please contact:
| Avon Rubber p.l.c. |
|
| Peter Slabbert, Chief Executive | 01225 896831 |
| Andrew Lewis, Group Finance Director | 01225 896830 |
| Fiona Stewart, Corporate Communications Executive | 01225 896871 |
| Weber Shandwick Financial |
|
| Nick Oborne | 020 7067 0700 |
| Clare Thomas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTES TO EDITORS: Avon Rubber p.l.c. is a world leader in the design, test and manufacture of advanced Chemical, Biological, Radiological and Nuclear (CBRN) respiratory protection solutions to the worlds military, law enforcement, first responder, emergency services, fire and industrial markets. Avon has a unique capability in CBRN protection based on a range of advanced CBRN technologies in respirator design, filtration and compressed air breathing apparatus. This enables Avon to develop specialised solutions that take full account of user requirements. Avon also owns a world leading dairy business manufacturing liners and tubing for the automated milking process. For further information please visit the Group's website www.avon-rubber.com