Disposal

Senior PLC
1 October 2002

 
                  Disposal of European Expansion Joint Operations 

Senior plc is pleased to announce the disposal of its four European Expansion
Joint Operations to KE-Burgmann for a total consideration of £4.3m. The sale
proceeds will be used to reduce Group borrowings. 

In total the four operations, located in Denmark, Poland, the Czech Republic and
the United Kingdom, broke even at the profit before interest and tax level in
the six months to 30th June 2002 on turnover of £5.1m. After taking account of
disposal costs and the write-off of £1.4m of goodwill held on the balance sheet
in respect of these operations, the transaction is expected to result in a loss
on disposal of £3.5m. 

Commenting on the disposal, Graham Menzies, Group Chief Executive said: 

'The disposal reflects a successful continuance of the Group's strategy to focus
its activities on the Aerospace and Automotive markets and to reduce its
borrowing levels.' 



Enquiries: 

Senior 
Graham Menzies     Group Chief Executive         01923 714702
Mark Rollins       Group Finance Director        01923 714738 


Finsbury 
James Murgatroyd                                 020 7251 3801 
Charlotte Festing 


Internet users will be able to view this announcement, together with other
information about Senior plc, on the web site: www.seniorplc.com 


Note to Editors: 

Senior is an international manufacturing group with annual sales of around £400m
and with operations in 13 countries. 

Senior designs, manufactures and markets high technology components and systems
for the principal original equipment producers in the worldwide aerospace,
automotive and specialised industrial markets. 

Senior's policy is to enhance shareholder value by improving operating
performance and customer service levels and by developing its market position in
the aerospace and automotive industries.   

 
                      This information is provided by RNS
            The company news service from the London Stock Exchange
    

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