Sale of Brock Metal
The Alumasc Group PLC
Alumasc Completes Sale of Brock Metal
The Alumasc Group plc (ALU.L), the premium building and engineering products group, confirms that, on 29th June, it completed the sale of the Brock Metal business, the leading UK supplier of zinc and aluminium die-casting alloys, to Chelyabinsk Zinc Plant (“CZP”) for cash consideration of £8.15 million, subject to completion accounts adjustment.
As announced on 8th June 2007, Alumasc will retain ownership of Brock’s freehold factory near Cannock, which has an estimated value of £1.5 million and will be leased to CZP. All of Brock’s existing management team and employees will transfer with the business.
CZP (CHZN) is the leading producer of SHG zinc and zinc alloys in Russia.
Paul Hooper, Chief Executive of Alumasc, said: “The sale of Brock Metal, and the acquisition in May of Levolux, demonstrates the Group’s focus on further growing the profitability of its core niche premium building and precision engineering products businesses.”