1st Aug 2005 07:00
TT electronics PLC01 August 2005 TT electronics plc Disposal TT electronics plc, a world leader in resistor and sensor technology, announcesthat it has sold its wholly owned subsidiary Houchin Aerospace Limited to atrade buyer for a consideration of £ 8 million in cash, a premium to net assets.From its base in Ashford, Kent, Houchin Aerospace Limited supplies standby powergeneration equipment for both civil and military aircraft. The proceeds of thedisposal will be applied to reduce group borrowings. The sale reflects TT electronics' long term strategy to dispose of operationsoutside of its core focus on leading edge electronics manufacture. For further information, please contact: TT electronics plc Tel: 01932 856 647John Newman, Executive Chairman Biddicks Tel: 020 7448 1000Zoe Biddick This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tt Electronics