21st Apr 2006 07:00
Biotrace International PLC21 April 2006 For Immediate Release 21 April 2006 BIOTRACE INTERNATIONAL PLC ("Biotrace", "the Company" or "the Group") Sale of Property Biotrace International Plc, a leading manufacturer of industrial microbiologyproducts, announces today that its joint venture company, Mansford Biotrace Ltdhas completed the sale of the Biotrace headquarters property for £2.5 million. The Company announced on 6 April, that contracts had been exchanged for the saleof the property for £2.5 million with completion expected to take place by theend of April. Completion has now taken place and the cash considerationreceived. As already stated Biotrace will realise a gain of £0.5 million on thedisposal which together with the release of its original investment in the jointventure will give rise to a cash benefit of £0.6 million for the Group. - ENDS - For further information, please contact: Biotrace International PlcIan Johnson, Chief Executive Officer Tel: +44 (0)1656 641 400Peter Morgan, Finance Director Buchanan CommunicationsTim Anderson / James Strong Tel: +44 (0)20 7466 5000 Notes to editors: Biotrace International Plc is a leading manufacturer and supplier of industrialmicrobiology products. The Company is organised into three business segments:Food & Environmental, Pharmaceutical, Personal Care & Cosmetics and Defence. TheGroup's proprietary technologies are used by most of the world's leading foodand beverage manufacturers who rely on Biotrace products as an essential part oftheir quality control procedures. Other industrial customers includepharmaceutical and personal care product/cosmetics manufacturers together withenvironmental/industrial process water clients. The Defence segment providessystems and consumables for the rapid detection of biological weapons formilitary and homeland security organisations. Formed in 1988 and floated on the London Stock Exchange in 1993, Biotrace hadtotal revenues of over £29 million in 2005. The Company is headquartered inBridgend, UK with manufacturing and sales operations worldwide. Visit Biotraceat www.biotrace.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Bank Irel13.375