Sale of Site
November 03 2004 - 10:36AM
UK Regulatory
RNS Number:8258E
Wellington Holdings PLC
03 November 2004
For Immediate Release 3 November, 2004
Wellington Holdings plc
Sale of Hampton site for #6.5million cash completed
Wellington Holdings plc, the manufacturer and distributor of specialst polymer
seals for engineering and industrial applications worldwide announces the
completion of the sale of its freehold site at Hampton, Middlesex, for #6.5m
cash. The sale proceeds have now been received.
Wellington will use certain of the proceeds of sale to relocate to a new,
specially built, highly efficient factory, built to specification on half the
present site. The move is expected to be completed in early 2006. Annual rental
payments of #590k will commence in 2007. The balance of the proceeds of sale
will be applied to reduce borrowings and to invest in the business.
Notes to Editor:
Wellington Holdings is a highly focused global manufacturer and distributor of
specialist seals used in new equipment and the aftermarket. Main markets include
mining equipment, construction machinery, aerospace, materials and fluid
handling, and especially strong in oil and gas. Wellington trades under four
brands, Hallite Seals, Dynamic Seals, CDI Seals and Hallite Polytek.
For further information:
Brian Kent, Chairman 020 8941 3774
Chris Wilkins, Chief Executive Officer 020 8941 3774
Mick Paver, Finance Director 020 8941 3774
Wellington Holdings plc
Paul Vann/Victoria Stephens 020 7786 9600
Binns & Co. PR Limited
Or visit the Wellington website: www.wellingtonholdings.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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