Management buy-out

 

TIDMDYS 
 
RNS Number : 8105G 
Dyson Group PLC 
08 February 2010 
 
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| For immediate release       |                   8th February 2010 | 
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                                Dyson Group plc 
                            ("Dyson" or "The Group") 
 
            MANAGEMENT BUY-OUT OF DYSON PRECISION CERAMICS 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 has exchanged contracts with JEMMTEC Ltd and completed the sale 
of its Precision Ceramics business (manufacture of products used in the glass 
and metals industry), based in Dewsbury, UK for a sum of GBP100k. JEMMTEC is a 
company that has been established and is controlled in part by the existing and 
previous management of the precision ceramics business and will trade as Magma 
Ceramics. 
 
The Precision Ceramics business had gross assets of GBP2.3m at 30 September 2008 
and made a profit of GBP53k 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 9 months to 31 December 
2009 show a profit of GBP44k and gross assets of GBP1.8m. 
 
As a result of the transaction 24 employees will transfer to JEMMTEC Ltd. 
JEMMTEC has also entered into a lease for a period of up to two years of the 
Dyson site in Dewsbury 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: 
 
+-------------------------------------+---------------------------------+ 
| Dyson Group plc                     |                                 | 
| Christopher Honeyborne, Chairman    |                                 | 
| Tel: [phone]                  |                                 | 
+-------------------------------------+---------------------------------+ 
| Julian Cooper, Interim Chief        |                                 | 
| Executive                           |                                 | 
| Tel: [phone]                  |                                 | 
|                                     |                                 | 
+-------------------------------------+---------------------------------+ 
| Buchanan Communications             |                                 | 
|                                     |                                 | 
| Charles Ryland                      |                                 | 
| Catherine Breen                     |                                 | 
+-------------------------------------+---------------------------------+ 
| Tel: [phone]                  |                                 | 
+-------------------------------------+---------------------------------+ 
 
KBC Peel Hunt 
 
Julian Blunt (Corporate Finance) 
Nicholas Marren (Corporate Broking) 
Tel: [phone] 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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