Update on Acquisition

RNS Number : 1283X

Plastics Capital PLC

08 January 2014

 



Plastics Capital plc

(The "Company" or the "Group")

Update on Acquisition of Beijing Higher Shengli Printing Science and Technology Co., Ltd ("Shengli")

In its recent circular to shareholders (released 31^st October 2013), the Company indicated that its proposed acquisition of Shengli was subject to satisfaction of various conditions and completion was anticipated on or prior to 31 December 2013.  Good progress has been made in satisfying these conditions, although it is now anticipated that completion will take place on or prior to 28 February 2014, to allow for the provision of various supplementary information that has been requested by the local Commission of Commerce prior to them delivering the necessary regulatory approvals.

A further announcement will be made once the acquisition is completed.

Plastics Capital plc	Tel: [phone]
Faisal Rahmatallah, Executive Chairman
Nick Ball, Finance Director
Cenkos Securities plc	Tel: [phone]
Stephen Keys
Camilla Hume
Allenby Capital Limited	Tel: [phone]
Katrina Perez
Kelly Gardiner
Walbrook PR Ltd	Tel: [phone]
Paul Cornelius	Mob: [phone] [e-mail]
Helen Cresswell	Mob: [phone] [e-mail]

Notes to Editor

Plastics Capital is a plastics products manufacturer focused on proprietary products for niche markets.  The Group has four factories in the UK, one in Thailand and sales offices in the USA, Japan, China and India.  Approximately 60 per cent of sales are exported to over 80 countries worldwide.  Production is concentrated in the UK where significant engineering know-how and automation underpins the Group's competitiveness.  The Group has approximately 300 employees.

Further information can be found on www.plasticscapital.com.

 

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