8th Oct 2007 13:33
Avon Rubber PLC08 October 2007 Strictly embargoed until 13:30 Monday, 8 October 2007 Avon Rubber p.l.c. ("Avon", "the Group" or "the Company") UK MIXING OPERATION In May 2006 and again at our Interim Results announcement on 17 May 2007 wereferred to our continuing efforts to eliminate losses in Avon Mixing, Westbury.Despite significant operational improvements and cost savings we have continuedto incur unacceptable losses in this business. Having explored all other optionsto address this unsustainable situation, Avon has now appointed advisors who areactively committed to selling Avon Mixing on our behalf. However, should theefforts to sell the Avon Mixing business prove unsuccessful the Company'sintention is to close this facility. Avon remains committed to being a world class materials specialist of polymerbased products. In the UK we retain our extensive knowledge, skills andexperience of rubber compounding through our Materials Development Centre inWestbury and through our manufacturing excellence at the Hampton Park Westproduction plant in Melksham. Commenting on the decision, Terry Stead, Chief Executive of Avon Rubber said:"The Group's strategy is to continue developing a strong market position with abalanced portfolio of businesses in the sectors of protection, engineeredfabrications, and dairy. All of these businesses have been previously identifiedand are well positioned for growth." < ENDS > For further enquiries, please contact: Avon Rubber p.l.c. 01225 896871Fiona Stewart, Local/Trade Press Weber Shandwick Financial 020 7067 0700Richard HewsRachel MartinHannah Marwood NOTES TO EDITORS: Avon Rubber p.l.c. is an international polymer engineeringgroup adding value through material, manufacturing and industry sectorexpertise. The Group is currently capitalised at approximately £54 million. Avonsupplies a range of advanced CBRN respiratory protection solutions through AvonProtection Systems Inc. to the world's military and police forces, as well asfirst responders and emergency services. Avon Rubber p.l.c. owns Avon-ISI, whichdesigns, develops and manufactures a range of SCBA equipment for fire, rescueand law enforcement, as well as military applications. Avon Rubber p.l.c. alsoowns Avon Engineered Fabrications manufacturing products including hovercraftskirting and flexible storage tanks, an aerosol gasket business and a worldleading dairy business manufacturing dairy liners and tubing This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Avon Protection