REG - Coral Products PLC - Acquisition <Origin Href="QuoteRef">CRU.L</Origin>

Coral ProductsAnnouncement

19/01/2016 15:50

RNS Number : 3554M
Coral Products PLC
19 January 2016
19 January 2016
CORAL PRODUCTS PLC
("Coral" or the "Group")
Acquisition
Coral Products plc, a specialist in the design, manufacture and supply of injection moulded plastic products, is pleased to announce that it has purchased the fixed assets, stock and business of Rotalac Plastics Limited ("Rotalac") from the administrators for a total consideration of 160,000 from the Group's existing cash resources. 
Rotalac, which is based in Manchester, provides bespoke thermoplastic extrusion and moulding solutions across a number of industries worldwide, including aerospace, medical and automotive. Rotalac is also a leader in shutter system design and manufacture including the branded Tambour range of shutters. 
In its last published accounts for the year ended 31 December 2014, Rotalac had sales of 3.1 million and operating profit of 134,000 and the net book value of its fixed assets and stock was 708,000 and 212,000 respectively. 
Coral's Executive Chairman Joe Grimmond commented: "This is an exciting opportunity and in line with the Group's strategic plan to broaden our product range. We look forward to integrating Rotalac's business into the Group."
Enquiries
Coral Products plc
Joe Grimmond, Executive Chairman
Tel: 07703 518 148
Nominated Adviser
Cairn Financial Advisers LLP
Avi Robinson / Tony Rawlinson
Tel: 020 7148 7900
Broker
Daniel Stewart & Company Limited
David Lawman 
Tel: 020 7776 6550
Capital Markets Consultants Limited
Richard Pearson
Tel: 07515 587184

This information is provided by RNS
The company news service from the London Stock Exchange
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