Disposal

 

TIDMJDR 
 
RNS Number : 9611R 
Jourdan PLC 
08 May 2009 
 

8 May 2009 
 
 
Jourdan plc 
 
 
Disposal of the business of John Corby Limited 
 
 
The Board of Jourdan plc ("Jourdan" or the "Company") is pleased to announce 
that the Company has today sold the business, fixed assets and stock of John 
Corby Limited ("Corby") for a total consideration of approximately GBP700,000. 
Corby is a wholly owned subsidiary company involved in the manufacturer of 
trouser presses. 
 
 
The consideration comprises an initial cash payment of GBP200,000 which has been 
received on completion and further monthly cash payments over the next 12 
months.  The sale price reflects the net assets of the business plus goodwill of 
GBP75,000.Corby generated sales in the six months to December 2008 of 
GBP1,497,000. 
 
 
This planned disposal is consistent with Jourdan's transformation from a 
broadly-based industrial manufacturing company to a specialist medical packaging 
business.  Jourdan is now the leading UK manufacturer and supplier of single-use 
sterilisation packaging material to the medical and healthcare industry.  Like 
for like sales in the first nine months of the year are well ahead of last year 
and this latest disposal will further reduce the Company's bank debt, leaving 
the Company well positioned to take advantage of any further opportunities. 
 
 
David Abell, Chairman, stated "The disposal of the Corby business will now allow 
Jourdan to focus on the medical packaging businesses at Westfield Medical and 
Clinipak, both of which are continuing to perform strongly, partly because of a 
substantial increase in sales to their eighty export markets helped by the 
massive devaluation of sterling." 
 
 
Contact: 
Jourdan plc 
David Abell, Chairman 
                                Tel: [phone] 
 
 
Charles Stanley Securities  Tel: [phone] 
Nominated Adviser & Broker 
Russell Cook / Carl Holmes 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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