RCS - LPA Group PLC - Successful Move to New Shire Hill Facility <Origin Href="QuoteRef">LPA.L</Origin>

LPAAnnouncement

29/10/2014 10:09

RNS Number : 2170O
LPA Group PLC
05 August 2014
LPA GROUP PLC
Successful Move to New Shire Hill Facility
LPA Group PLC ("LPA" or "the Group"), the LED lighting and electro-mechanical system manufacturer and distributor, is pleased to announce that the planned move of its electro-mechanical business to 'Light and Power House', its new facility at Shire Hill in Saffron Walden, has been carried out successfully. All of LPA's 65 employees at Tudor Works, its old facility, have also re-located.
The move, which was very carefully planned, was achieved with minimal disruption to output, which was in line with customer requirements. 
The 44,000 sq. ft. Light and Power House has been fully renovated and refurbished and provides larger, more efficient and fully modernised premises for LPA's rationalised electro-mechanical business. The facility will now be LPA's main centre for electro-mechanical system manufacture and will provide opportunity for expansion in the future.
In addition, the electro-mechanical business has changed its name from LPA Niphan Systems, to LPA Connector Systems to coincide with the move.
LPA expects to fully vacate Tudor Works within a few days triggering payment to LPA of the 1.3m balance of the initial consideration of 2.6m for which the Group sold the property. Depending on the success of the planned redevelopment of the Tudor Works site for housing, there may be additional sums due to the Group in the future.
Peter Pollock, Chief Executive of LPA, commented:
"Our move marks an important step in what is proving to be a very busy year for us. Light and Power House provides a modern and spacious facility from which LPA Connector Systems can continue to grow and to take advantage of the exciting opportunities we are currently seeing in the marketplace. 
"We will now move on to complete the reorganisation of our electro-mechanical business and commence a 50% extension to our LED lighting manufacturing facility in Normanton, West Yorkshire."
5th August 2014
ENQUIRIES:
LPA Group plc 
Peter Pollock, Chief Executive Tel: 07881 626123 or 01799 512844
Steve Brett, Finance Director  Tel: 07881 626127 or 01799 512860
Cairn Financial (Nominated Adviser)  Tel: 020 7148 7900 
James Caithie / Avi Robinson
Hume Capital Securities (Broker) Tel: 020 7101 7070 
David Lawman / Guy Peters
Instinctif Partners (PR Adviser) Tel: 020 7457 2020
Mark Garraway / Helen Tarbet 

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