Completion of Disposal

23 Jun 2005 07:01

Carclo plc23 June 2005 23 June 2005 Carclo plc Completion of disposal of ECC Card Clothing On 26 May 2005 Carclo announced that it had received a binding offer from NVBekaert SA for its ECC Card Clothing business ("ECC") for a total considerationof up to £8.6 million. Following the approval of shareholders at anextraordinary general meeting on 13 June 2005, completion of the disposalremained conditional on Turkish merger clearance having been obtained. Carclo is pleased to announce that Turkish merger clearance has now beenobtained and the disposal of ECC has been completed. - Ends - Enquiries: Carclo plc 01924 268040Ian Williamson, Chief ExecutiveRobert Brooksbank, Finance Director Dresdner Kleinwort Wasserstein Limited 020 7623 8000Michael CovingtonAlex Thomas Weber Shandwick Square Mile 020 7067 0700Richard HewsSusanne Walker Notes to editors: •Carclo plc is a global supplier of technical plastic products. It is a public company whose shares are quoted on the London Stock Exchange. • 70% of sales, on a pro forma basis (excluding ECC), are derived from the supply of fine tolerance, injection moulded plastic components, which are used in medical, telecom and electronics products. This business, Carclo Technical Plastics, operates internationally in a fast growing and dynamic market underpinned by rapid technological development. €30% of sales, on a pro forma basis, are derived from the supply of products to the automotive and aerospace industries. •Carclo's strategy is to grow rapidly in low cost manufacturing regions and to develop new technologies and products to underpin future growth. This information is provided by RNS The company news service from the London Stock Exchange