30th Jan 2009 15:54
30 January 2009
Yule Catto & Co plc
New loan facility
Completion of disposal
Yule Catto & Co plc, an international producer of specialty chemicals used in a wide range of industries including pharmaceuticals, FMCG, paints and adhesives, is pleased to announce that it has today concluded a six year amortising loan of 100 million Malaysian ringitt (£19 million) via Synthomer Sdn Bhd, one of its wholly owned subsidiaries.
David Blackwood, Group Finance Director of Yule Catto, commented:
"We announced in December that we had successfully replaced our previous main term bank lines with a new three year £30 million revolving credit facility. With this additional £19 million in place our re-financing is now complete."
Yule Catto also announces that it has today completed the disposal of the business and assets of Oxford Chemicals Limited to Frutarom (UK) Limited for a consideration of £8.25 million. The disposal, announced on 5 January 2009, had been conditional on regulatory approval for the transfer of operational licences and compliance with employee information and consultation requirements, and these conditions have now been satisfied.
- Ends -
For further information, please contact:
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Yule Catto & Co plc Adrian Whitfield, Chief Executive David Blackwood, Group Finance Director
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01279 442791 |
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Hogarth Partnership John Olsen Andrew Jaques Ian Payne |
020 7357 9477 |
Related Shares:
Synthomer