TIDMCRU

RNS Number : 3554M

Coral Products PLC

19 January 2016

19 January 2016

CORAL PRODUCTS PLC

("Coral" or the "Group")

Acquisition

Coral Products plc, a specialist in the design, manufacture and supply of injection moulded plastic products, is pleased to announce that it has purchased the fixed assets, stock and business of Rotalac Plastics Limited ("Rotalac") from the administrators for a total consideration of GBP160,000 from the Group's existing cash resources.

Rotalac, which is based in Manchester, provides bespoke thermoplastic extrusion and moulding solutions across a number of industries worldwide, including aerospace, medical and automotive. Rotalac is also a leader in shutter system design and manufacture including the branded Tambour range of shutters.

In its last published accounts for the year ended 31 December 2014, Rotalac had sales of GBP3.1 million and operating profit of GBP134,000 and the net book value of its fixed assets and stock was GBP708,000 and GBP212,000 respectively.

Coral's Executive Chairman Joe Grimmond commented: "This is an exciting opportunity and in line with the Group's strategic plan to broaden our product range. We look forward to integrating Rotalac's business into the Group."

Enquiries

 
 Coral Products plc                    Tel: 07703 
  Joe Grimmond, Executive Chairman      518 148 
 Nominated Adviser 
  Cairn Financial Advisers LLP           Tel: 020 7148 
  Avi Robinson / Tony Rawlinson          7900 
 Broker 
  Daniel Stewart & Company Limited       Tel: 020 7776 
  David Lawman                           6550 
 Capital Markets Consultants Limited   Tel: 07515 
  Richard Pearson                       587184 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 19, 2016 10:46 ET (15:46 GMT)