Mpac Group Plc Regulatory News (MPAC)

19 Dec 2006 10:04

Molins PLC19 December 2006 19 DECEMBER 2006 FOR IMMEDIATE RELEASE MOLINS PLC SANDIACRE ROSE FORGROVE & TRADING UPDATE Sandiacre Rose Forgrove Molins PLC, the international specialist engineering group, completed the saleof its Sandiacre Rose Forgrove packaging machinery business ("SRF") to HayssenEurope Limited and Hayssen Inc. (together "Hayssen") for £3m in cash, on 18December 2006. The sale was announced on 28 November subject only to thecompletion of information exchange and consultation with the UK based employeesof SRF. As previously stated, the Nottingham property from which SRF operates, currentlyleased to Hayssen, will be marketed for sale. The property has an estimatedmarket value in excess of £4m and a book value of £1.8m. Trading Update The final transfer of the assembly and machining operations from Saunderton tothe Czech Republic is progressing to plan and will be completed shortly. Thecharge for this reorganisation will be reported in the second half year'sresults. As previously advised trading profits for this division are expectedto be lower than in 2005. Order intake in the Packaging Machinery division has been encouraging and thedivision has a strong order book for delivery in 2007. The division willdeliver an increase in sales and profits in the second half of the year comparedwith the first half. The Scientific Services division is expected to have sustained its progress inthe year. Enquiries: Molins PLC Tel: 01908 219000 Peter Byrom, Chairman David Cowen, Group Finance Director Issued by: Citigate Dewe Rogerson Tel: 020 7638 9571 Margaret George This information is provided by RNS The company news service from the London Stock Exchange