Sale of stake in BRC Weldmesh (Gulf) WLL

 

TIDMACER 
 
RNS Number : 4507N 
Acertec PLC 
17 February 2009 
 

17 February 2009 
 
 
Acertec plc 
("Acertec" or the "Group") 
Sale of stake in BRC Weldmesh (Gulf) WLL 
("BRC Weldmesh") 
 
 
Acertec today announces that it has agreed to sell its 32.6% holding in BRC 
Weldmesh to the Abdulrahman Khalil Almoayed Group WLL (the "AK Almoayed Group") 
and Mr Emad Abdulrahman Khalil Almoayed. 
 
 
BRC Weldmesh, a manufacturer and supplier of engineered wire mesh and fencing, 
is a Bahrain-incorporated joint venture between Acertec and the AK Almoayed 
Group. 
 
 
The total consideration, to be paid in full in cash on completion, is GBP0.45 
million and will be used to reduce the Group's existing debt. Acertec expects to 
record a profit on disposal of approximately GBP0.4 million. 
 
 
As at 31 December 2007, 32.6% of BRC Weldmesh's net assets were BHD1.1 million 
(GBP1.5 million). For the year ended 31 December 2007, 32.6% of BRC Weldmesh's 
pre-tax profits were BHD0.15 million (GBP0.20 million). 
 
 
Following the disposal, Acertec will continue to operate in two business units: 
Stadco is a leading supplier of body-in-white pressings and sub-assemblies to 
automotive Original Equipment Manufacturers in Germany and the UK and Acertec 
Construction Products supplies high performance engineering solutions for the 
mining, civil engineering, building and security industries. 
 
 
 
 
- Ends - 
 
 
Enquiries: 
 
 
+-----------+---------------+ 
| Acertec   |  01743 445541 | 
| plc       |               | 
+-----------+---------------+ 
| David     |               | 
| Hussey,   |               | 
| Executive |               | 
| Chairman  |               | 
+-----------+---------------+ 
| Steve     |               | 
| Kynaston, |               | 
| Group     |               | 
| Finance   |               | 
| Director  |               | 
+-----------+---------------+ 
|           |               | 
+-----------+---------------+ 
| Hawkpoint | 020 7665 4500 | 
| Partners  |               | 
| Limited   |               | 
+-----------+---------------+ 
| David     |               | 
| Renton    |               | 
+-----------+---------------+ 
|           |               | 
+-----------+---------------+ 
| Weber     | 020 7067 0700 | 
| Shandwick |               | 
| Financial |               | 
+-----------+---------------+ 
| Nick      |               | 
| Oborne    |               | 
| /         |               | 
| Clare     |               | 
| Perks     |               | 
+-----------+---------------+ 
 
 
 
 
Notes to Editors 
Acertec is comprised of two divisions, Stadco and Acertec Construction Products 
(formerly BRC). Stadco is a leading supplier of body-in-white pressings and 
sub-assemblies to automotive OEM's in the UK and Germany. Acertec Construction 
Products supplies high performance engineered solutions for mining, civil 
engineering, building and security industries. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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