13 Dec 2018 09:00
13 December 2018
RPC Group Plc
Portfolio management
RPC Group Plc ("RPC" or the "Group"), a leading international plastic products design and engineering company, announces an update in relation to the divestment of its non-core businesses.
Sale of non-core spirits closures business
RPC has completed the sale of its non-core spirits closures business at Bridge of Allan, Scotland (the "Spirits Closures Business") to GCL International SARL, a subsidiary of Guala Closures Group, for a pre-tax cash free, debt free consideration of £19 million. The transaction is not subject to any regulatory or other approvals.
Disposal of non-core businesses
RPC announced the intention to dispose of three non-core businesses on 6 June 2018. The sale of the Letica Foodservice business completed on 30 September 2018; the sale of the Spirits Closures Business therefore marks the second successful sale within this divestment programme. The sale process for the European injection moulding automotive business (comprising of operations at Zevenaar, The Netherlands, and at Rongu, Estonia) has commenced. Further updates on this process will be provided in due course.
For further information:
RPC Group Plc | +44 (0)1933 410064 | FTI Consulting | +44 (0)20 3727 1340 |
Pim Vervaat, Chief Executive | Richard Mountain | ||
Simon Kesterton, Group Finance Director | Nick Hasell | ||
About RPC Group:
RPC is a leading plastic products design and engineering company for packaging and selected non-packaging markets, with over 31 innovation centres and 188 operations in 33 countries, and employs c.24,000 people. The Group develops and manufactures a diverse range of products for a wide variety of customers, including many household names, and enjoys a strong presence in many of the end-markets it serves and the geographical areas in which it operates. It uses a wide range of polymer conversion technologies in both rigid and flexible plastics manufacture, and is now one of the largest plastic converters in Europe, combining the development of innovative packaging and technical solutions for its customers with good levels of service and support.
For further information please visit: www.rpc-group.com
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