REG - Churchill China PLC - Purchase of certain assets from Dudson Holdings
RNS Number : 1781VChurchill China PLC04 April 20194 April 2019
CHURCHILL CHINA plc
("Churchill China" or the "Company" or the "Group")
Purchase of certain assets from Dudson Holdings Limited (in Administration)
Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, has purchased certain intangible and tangible assets from Dudson Holdings Limited and Dudson Limited (both in Administration) ("Dudson") for a total consideration of £2.1 million, funded from the Group's existing cash resources. The purchase does not include the Dudson group operating businesses.
£1.5 million of the consideration is for the Dudson brand and for intellectual property in respect of two of Dudson's product ranges, 'Harvest' and 'Evo'. Dudson is a long established manufacturer of performance vitrified ceramic tableware based in Stoke on Trent and has operated in similar markets to Churchill. Certain plant and equipment has also been purchased for £0.6 million.
The assets purchased are complementary to our existing strategic plan and will allow Churchill to further extend its offering of differentiated added value products.
For further information, please contact:
Churchill China plc
Tel: 01782 577566
David O'Connor / David Taylor
Buchanan
Tel: 020 7466 5000
Mark Court / Sophie Wills / Hannah Ratcliff
N+1 Singer
Tel: 0207 496 3000
Richard Lindley / James White / Rachel Hayes
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