Settlement of Claim

RNS Number : 8935V

Avingtrans PLC

17 July 2009

 



Avingtrans plc (the 'Group')

Settlement of claim

Avingtrans plc is pleased to announce that settlement has been reached in respect of the Group's claim against the vendors of B&D Patterns Ltd ('B&D') relating to the purchase of B&D by Avingtrans plc on 21 September 2006 as highlighted in the 2008 Chairman's Statement. 

Under the settlement, the vendors of B&D have agreed to pay Avingtrans £1.25 million inclusive of costs.

Commenting on the settlement, Steve McQuillan, Chief Executive of Avingtrans, said: 

'I am very pleased that an amicable agreement has been reached with the vendors of B&D which I believe represents a fair resolution of our claim'.

 Enquiries:

Steve McQuillan, CEO

0115 949 9020

 

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