DCC PLC - Subsid's Disposal
March 30 2000 - 3:48AM
UK Regulatory
RNS Number:1859I
DCC PLC
30 March 2000
DCC Realises Gain of EUR 18.0 million on Sale of ITP
30 March 2000
DCC plc, the value added marketing and distribution group,
announces that its wholly owned subsidiary, SerCom Solutions
Limited, has agreed to sell its 90% owned subsidiary,
International Translation & Publishing Limited ('ITP'), to SDL
plc, a UK software, internet products and services company.
Jim Flavin, Chief Executive & Deputy Chairman of DCC, said
today:
"On 27 September 1999 DCC announced that its subsidiary SerCom
Solutions had expanded its range of services to the IT and
telecommunications sectors to embrace supply chain management
and e-commerce fulfilment. In order to focus the development
of SerCom Solutions on these exciting growth areas we have
decided to sell ITP, the specialist localisation business."
SerCom Solutions will receive a cash consideration on the
disposal of ITP of EUR 19.8 million and SDL will also assume
ITP's bank debt at completion (currently amounting to
approximately EUR 3.6 million). The sale will result in a gain
for DCC before tax on book value of approximately EUR 18.0
million.
SerCom Solutions is a leading supplier of outsourced supply
chain management services to the IT and telecommunications
industries. Its customers include 3Com, Canon, Dell, IBM,
Lucent, Mattel Interactive, Microsoft, Motorola and Nortel
Networks. Given the pace of new product development, these
new companies are increasingly outsourcing key aspects of
their supply chain in order to achieve shorter lead times to
market, reduced inventory levels and more cost effective and
efficient distribution. In order to capitalise on this growing
trend SerCom Solutions is enhancing its IT systems and
developing a range of e-commerce solutions.
For reference:
Michael Scholefield Tel: +353 1 283 1011
Investor Relations Manager www.dcc.ie
END
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