This morning, Avon Rubber announced completion of the disposal of Avon Engineered Fabrications (AEF) for $9.25m. The company announced in its FY17 annual report that it was considering the strategic options for the business. We estimate that this deal should add c £6m to cash at current exchange rates. Overall, the company’s threefold growth strategy remains in place and we are encouraged to see the actions management is taking.
03 Apr 2018
Avon Rubber - Strategy continues to take shape
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Avon Rubber - Strategy continues to take shape
Avon Protection PLC (AVON:LON) | 1,239 99.1 0.6% | Mkt Cap: 374.9m
- Published:
03 Apr 2018 -
Author:
Annabel Hewson -
Pages:
2
This morning, Avon Rubber announced completion of the disposal of Avon Engineered Fabrications (AEF) for $9.25m. The company announced in its FY17 annual report that it was considering the strategic options for the business. We estimate that this deal should add c £6m to cash at current exchange rates. Overall, the company’s threefold growth strategy remains in place and we are encouraged to see the actions management is taking.