28th Mar 2006 07:19
Barr(A.G.) PLC28 March 2006 IMMEDIATE RELEASE 28 March 2006 A.G.BARR p.l.c. Property Sale, Investment and Site Closure Plans A.G.Barr p.l.c, the soft drinks group, alongside their Preliminary results (seeseparate release) today makes the following announcements. Property Sale Six properties in Scotland have been sold for a total consideration of £6.75million which gives a net gain after costs of approximately £1 million. Theseproperties are the surplus sites which will be vacated following the completionof the previously announced supply chain consolidation project, planned to becompleted by the end of the calendar year. Manufacturing Re-structure As part of the Company's drive to attain an efficient operating platform, todayA.G.BARR p.l.c. announce plans for a capital investment of around £6.5 millionin its Cumbernauld and Mansfield facilities. It is anticipated that thisinvestment will be offset partially by further property disposal proceeds to beannounced at a later date. The Company has also announced that it is in consultation with employees with aview to closing its Atherton site by early 2007. One-off costs, relating largely to the closure of the Atherton site, areestimated at £3.2 million and ongoing operating cost improvements are expectedto be circa £1 million per annum phased in from 2007/08. For further information, please contact: A.G.Barr Tel: 0141 554 1899 Roger White, Chief ExecutiveBuchanan Communications Tel: 020 7466 5000 Tim Thompson / Nicola Cronk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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