Last checked at 4 Apr 2019 13:04
4 April 2019
CHURCHILL CHINA plc
("Churchill China" or the "Company" or the "Group")
Purchase of certain assets from Dudson Holdings Limited (in Administration)
Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, has purchased certain intangible and tangible assets from Dudson Holdings Limited and Dudson Limited (both in Administration) ("Dudson") for a total consideration of £2.1 million, funded from the Group's existing cash resources. The purchase does not include the Dudson group operating businesses.
£1.5 million of the consideration is for the Dudson brand and for intellectual property in respect of two of Dudson's product ranges, 'Harvest' and 'Evo'. Dudson is a long established manufacturer of performance vitrified ceramic tableware based in Stoke on Trent and has operated in similar markets to Churchill. Certain plant and equipment has also been purchased for £0.6 million.
The assets purchased are complementary to our existing strategic plan and will allow Churchill to further extend its offering of differentiated added value products.
For further information, please contact:
Churchill China plc | Tel: 01782 577566 |
David O'Connor / David Taylor | |
Buchanan | Tel: 020 7466 5000 |
Mark Court / Sophie Wills / Hannah Ratcliff | |
N+1 Singer | Tel: 0207 496 3000 |
Richard Lindley / James White / Rachel Hayes
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