Management buy-out

 

TIDMDYS 
 
RNS Number : 6994E 
Dyson Group PLC 
24 December 2009 
 

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| For immediate release           |                         24 December 2009 | 
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Dyson Group plc 
("Dyson" or "The Group") 
 
 
MANAGEMENT BUY-OUT OF KILN FURNITURE BUSINESS 
 
 
 
 
Dyson Group (LSE:DYS), the materials technology company, is pleased to announce 
that, as part of its ongoing restructuring process, its subsidiary Dyson 
Industries Ltd yesterday exchanged contracts with IPS Ceramics Ltd and completed 
the sale of its Kiln Furniture business (design and manufacture of kiln 
furniture products for the Ceramic Industry), based in Stoke-on-Trent, UK for a 
nominal sum of GBP1. IPS Ceramics Ltd is a company that has been established and 
is controlled by the existing local management of the kiln furniture business. 
 
 
The Kiln Furniture business had gross assets of GBP4.3m at 30 September 2008 and 
made a loss of GBP0.1m in the 6 months to 30 September 2008. The interim results 
to 30 September 2008 are the most recent published results for Dyson Group plc. 
The unaudited management accounts for the 8 months to November 2009 show a loss 
of GBP0.5m and gross assets of GBP2.4m. 
 
 
As a result of the transaction 70 employees will transfer to IPS Ceramics Ltd. 
IPS Ceramics Ltd has also entered into a lease for a period of up to two years 
of the Dyson site in Stoke-on-Trent on a rent free basis for one year but 
otherwise paying all holding costs such as rates, security and maintenance costs 
for the site during that time. 
 
 
For further enquiries, please contact: 
 
 
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| Dyson Group plc                          |          Tel: [phone]          | 
| Christopher Honeyborne, Chairman         |                                      | 
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| Buchanan Communications                  | Tel: [phone]                   | 
| Charles Ryland                           |                                      | 
| Catherine Breen                          |                                      | 
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KBC Peel Hunt                                                            Tel: 
0207 418 8900 
Julian Blunt (Corporate Finance) 
Nicholas Marren (Corporate Broking) 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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