Avon Rubber Disposes US Business Avon Engineered Fabrications

3rd Apr 2018 11:16

LONDON (Alliance News) - Avon Rubber PLC said Tuesday it has completed the sale of its US hovercraft skirt & bulk liquid storage tank business for USD9.3 million.

The non-core Avon Engineered Fabrications Inc business has been sold to Pinewell Capital portfolio company Performance Inflatables Co LLC.

Avon will treat the business has a discontinued operations when it releases results for 2018, into which AEF had been expected to make a "small" positive contribution.

Avon shares were up 1.5% on Tuesday at a price of 1,289.00 pence each.

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