Disposal

12 May 2005 11:48

12 May 2005Communisis plc - DisposalCommunisis plc today announces that it has completed the sale of itsDutch-based European manufacturing operation to a locally based Dutch printer.The disposed operations comprise the manufacturing facility in Den Bosch, TheNetherlands and a sales office in Vilvoorde, Belgium and all related staff.The decision to sell this operation follows a period of intense managementeffort to improve the operating performance of this business, however, thefinancial results remain unacceptable and the sale avoids significant closurecosts.The disposal will generate a loss of approximately ‚£4.7m comprising thewrite-offs of the net assets of the business of ‚£2.3m and associated goodwillof ‚£2.4m, which will be recognised in the first half.For further information, please contact:David Jones, Chief Executive Tel: 0113 277 0202 Communisis plc Mark Whiteling, Finance Director Tel: 0113 277 0202 Communisis plc William Clutterbuck/Michelle Jeffery Tel: 020 7379 5151 The Maitland Consultancy ENDCOMMUNISIS PLC