REG - CML Microsystems PLC - CML plans for new business hub at Oval Park

CML MicrosystemsAnnouncement

26/09/2022 07:00

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RNS Number : 5341A  CML Microsystems PLC  26 September 2022

26 September 2022

 

CML Microsystems Plc

("CML", the "Company" or the "Group")

CML plans for new state of the art business hub at Oval Park

CML Microsystems Plc, which develops mixed-signal, RF and microwave
semiconductors for global communications markets, is pleased to announce plans
to create significant and sustainable employment opportunities at its current
29-acre site located at Oval Park, Maldon.

On 5 July 2022, the Company announced in its final results that its Oval Park
site is designated employment land in the Maldon District Plan and part of
this land is excess to CML's trading requirements, which had led the Company
to sign sale contracts with two separate parties, subject to them gaining
appropriate planning permission for development on approximately 13 acres of
land. A series of planning applications have now been submitted to Maldon
District Council to create a state-of-the-art business park hub and
additionally the site will house two world leading organisations in their
respective fields, Maldon Crystal Salt company and Tecniq, whose relocation to
the site will provide the corner stone of the development.

The transformation of the 29-acre brownfield Oval Park site, which CML has
owned for over 20 years, into an exciting new business development with
spacious offices, warehousing and world-class R&D facilities is expected
to bring over 200 jobs to the district by 2024 and potentially many more in
the next few years.

The development of the site marks a milestone in the Group's strategy to
dispose of excess land where it is in shareholders' interests to do so.

Subject to planning permission, work is due to start on the site in 2023.

Nigel Clark, Chairman of CML Microsystems commented:

"The creation of a state of the art business park coupled with the relocation
of the Maldon Salt Company and Tecniq, two world leading organisations in
their respective fields, co-locates a trio of quality British companies
providing the corner stone of the development - the best of British. The
development of the Business Park provides other organisations the opportunity
to join us and locate to Oval Park, attracting further investment into the
Maldon District whilst also providing local companies the opportunity to raise
their profile."

 

About Maldon Salt

Maldon Salt is the UK's leading salt brand, founded in Maldon in 1882. Maldon
is a Royal Warrant holding family run business, dedicated to investing in its
number one asset, its people. Exporting to over 60 countries around the world,
Maldon is dedicated to its CSR mission and is a World Land Trust partner.
Maldon has ambitious, innovative growth plans and has produced successful,
sustainable year and year growth.

About Tecniq

Tecniq is a world class design and technology lead manufacturing company, with
a 20-year pedigree working for car manufacturers worldwide, including Aston
Martin, Bentley, Porsche Singer and Tesla. Tecniq is proud of its global
reputation for combining creativity, innovation and craftmanship. Tecniq has
grown rapidly in the past six years and is looking to grow its team to over
200 people by the end of 2022, including by investing in training and
apprenticeships for current and new workers and is currently working alongside
the University of East Anglia on graduate placements.

 

 CML Microsystems Plc                            www.cmlmicroplc.com (http://www.cmlmicroplc.com/)

  Tel: +44(0)1621 875 500
 Chris Gurry, Group Managing Director

Nigel Clark, Executive Chairman

 Shore Capital (Nominated Adviser and Broker)   Tel: +44(0)20 7408 4090

 Advisory
 Toby Gibbs

James Thomas

John More

 Corporate Broking
 Fiona Conroy

 Alma PR                                        Tel: +44 (0)20 3405 0212

 Josh Royston

Andy Bryant

Matthew Young

 

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global
communications markets. The Group utilises a combination of outsourced
manufacturing and in-house testing with trading operations in the UK, Asia and
USA. CML targets sub-segments within Communication markets with strong growth
profiles and high barriers to entry. It has secured a diverse, blue chip
customer base, including some of the world's leading commercial and industrial
product manufacturers.

The spread of its customers and diversity of the product range largely
protects the business from the cyclicality usually associated with the
semiconductor industry. Growth in its end markets is being driven by factors
such as the appetite for data to be transmitted faster and more securely, the
upgrading of telecoms infrastructure around the world and the growing
prevalence of private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

 

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