1st Nov 2007 14:04
UMECO PLC01 November 2007 1 November 2007 Umeco plc Disposal of Repair & Overhaul Division Umeco plc, an international provider of supply chain services and advancedcomposite materials to the aerospace & defence and automotive industries,announces that it has today completed the disposal of its Repair and OverhaulDivision to Ametek Holdings B.V., a wholly owned subsidiary of AMETEK Inc. The proposed disposal, announced on 18 October 2007, had been subject toconsultation with the Works Council of Antavia SAS, one of the companies whichconstitute the Repair and Overhaul Division, and to clearance being receivedfrom the German anti-trust authorities. Both these conditions have now beensatisfied and the disposal completed. Umeco plc will be announcing its interim results on Wednesday 7 November 2007. - Ends - For further information, please contact:- Umeco plc (www.umeco.com) Tel: +44 (0) 1926 331 800 Clive Snowdon, Chief ExecutiveDouglas Robertson, Group Finance Director Hogarth Partnership Tel: +44 (0) 20 7357 9477John Olsen / Barnaby Fry Further Information on Umeco plc Umeco is a leading innovator in distribution, supply chain management for theaerospace and defence industries, harnessing new methods for enhancing itscustomers' performance and profitability. Umeco also has significant manufacturing interests in advanced compositematerials for a growing range of applications in its core aerospace and defencemarkets and in other high performance technology industries such as motor sport,automotive and wind energy. Listed on the London Stock Exchange, Umeco had turnover of £333.9 million in theyear to 31 March 2007. Following completion of the disposal of its Repair and Overhaul business, Umecowill be managed through two divisions:- Umeco Supply Chain - a leading international provider of value-addeddistribution and supply chain outsourcing services to customers in the aerospace& defence market. With its specialisation in the supply of small components andsophisticated IT systems, its growing global customer base can enjoy significantoperational, cost and working capital benefits. Customers include Rolls-Royce plc, BAE SYSTEMS, Safran Group, Parker Aerospace,Goodrich, Bombardier, Lockheed Martin and the US Department of Defense. Umeco Composites - a provider of a complete range of advanced compositematerials and specialist chemical products principally to the aerospace,motorsport, automotive and wind energy markets. A growing range of value-addedoutsourcing services is provided to major customers. Customers include Boeing, Airbus, BAE SYSTEMS, Goodrich Aerostructures, BritishAirways, Lufthansa Technik, a number of manufacturers of high performance supercars and Formula 1 teams including Team McLaren Mercedes. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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