1 Jul 2008 10:26
RNS Number : 9918X
Bailey(C.H.) PLC
01 July 2008
CH Bailey PLC
Following a Board review, CH Bailey PLC ("Bailey") has concluded that the growth of its subsidiary, Modular Automation International Limited ("Modular"), will be maximised through the involvement of a strategic partner. This investor will take Modular to the next stage in its development as a market-leading manufacturer of automated assembly machines. Bailey took an initial 60% stake in Modular in 2003 and has since increased its holding to nearly 79%. Accordingly, Smith's Corporate Advisory Limited has been appointed by Bailey to identify the most appropriate strategic partner for Modular.
Enquiries:
Charles Bailey / Bryan Warren
CH Bailey plc 01633 262961
Richard Day 020 7398 1632
Arden Partners plc
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C.H. Bailey Plc (BLEY)