Rugby Group Plc - Disposal
September 02 1999 - 3:31AM
UK Regulatory
RNS No 8204w
RUGBY GROUP PLC
2 September 1999
The Rugby Group PLC
Sale of BCE Cellular Extrusions Ltd
====================================
The Rugby Group PLC (Rugby) announces the sale of BCE Cellular Extrusions Ltd
(BCE) to Heywood Williams Group PLC for a cash consideration of #10.5 million,
subject to closing adjustments. Heywood Williams, a London Stock Exchange
quoted company, is involved in the manufacture and distribution of building
related products.
BCE, a Scunthorpe based operation, was acquired by Rugby in 1991 and
manufactures and supplies cellular PVCu building products. In 1998, BCE's
turnover was #10.2million with an operating profit of #1.2million. The net
operating assets as at 31 December 1998 were #5.7 million plus goodwill of
#2.3million.
BCE is one of the non-core operations that was identified for separate
disposal from the main UK Joinery business, which was sold in August 1999 to
Jeld-Wen. The disposal is part of Rugby's continuing commitment to focus the
Group on the growth and development of its cement and lime operations.
Enquiries:
David A Harding Group Finance Director 01788 542666
Debbie Wosskow Brunswick 0171 404 5959
END
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