Synthomer Regulatory News (SYNT)

1 Jun 2007 07:01

Yule Catto & Co PLC01 June 2007 Yule Catto & Co plc Restructuring at Holliday Pigments Yule Catto is an international producer of speciality chemicals, supplied toglobal customers for use in a wide range of industries includingpharmaceuticals, FMCG, paints and adhesives Yule Catto & Co plc announces that it is to restructure its Holliday Pigmentsoperations, currently located in Kingston-upon-Hull, and at Comines in NorthernFrance. This restructuring will see pigment production progressively transferredfrom Hull to Comines, ultimately leading to the closure of the UK site and theloss of 95 jobs. A sales and marketing presence will be retained in the UK, but research anddevelopment will be transferred to Comines, to support continued development ofthis site. Costs associated with this restructuring are expected to be incurred in thecurrent financial year, but these will eventually be offset by sale of the Hullsite, which is expected to realise a value in excess of the costs associatedwith the site closure. Restructuring of the Holliday Pigments business is in line with Yule Catto'scorporate strategy of reshaping the businesses within its Impact ChemicalsDivision, in order to realise maximum value for shareholders. 1 June 2007 ENQUIRIES: YULE CATTO Tel: 01279 442791Adrian Whitfield, Chief Executive COLLEGE HILL Tel: 020 7457 2020Gareth David This information is provided by RNS The company news service from the London Stock Exchange