Sale of Abbey Metal Finishing

RNS Number : 6251H
Camellia PLC
05 August 2021
 

 

5 August 2021

Camellia Plc

Sale of Abbey Metal Finishing

In line with Camellia (CAM.L, Camellia)'s previously stated strategy involving a review of its non-core investments, Camellia announces the sale of its interests in Abbey Metal Finishing Company Limited and its subsidiary Atfin GmbH in Germany to a newly incorporated company set up by GIL Investments for the purpose of the acquisition and Aerotech GmbH respectively.  With the downturn in the aerospace market and recent losses incurred, we are exiting the aerospace market.

Tom Franks, CEO at Camellia, commented:

"The sale of Abbey Metals and its subsidiary in Germany will mean those businesses will now have owners more committed to the aerospace market and therefore better able to invest in their future development."

Enquiries

Camellia Plc     01622 746655

Tom Franks, CEO

Susan Walker, CFO

Panmure Gordon   020 7886 2500

Nominated Adviser and Broker

Emma Earl

Erik Anderson

Maitland/AMO

PR

William Clutterbuck   07785 292617

 

 

 

 

 

 

 

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