Scapa is pleased to announce today the sale of its Sealants operations for £4.9m in cash with completion expected to occur in February. The business had sales in 2005/06 of £7m and operating profits of £0.3m. It employs 71 people and is based in Lymington, Hampshire. Net assets at disposal amounted to £2m.
Commenting on the sale, Scapa Chief Executive, Calvin O'Connor, said:-
"The sale of our sealants business represents another successful step in the implementation of Scapa's recovery strategy with this deal being the third disposal from our peripheral operations."
For further information please contact:-
| Calvin O'Connor |
Scapa Group plc |
Tel: 0161 301 7430 |
| Mark Stirzaker |
Scapa Group plc |
Tel: 0161 301 7430 |