Carclo has exited from its loss-making Wipac business which has been acquired by Wuhu Anrui Optoelectronics, a manufacturer of LED-based automotive lighting. This ensures continuity for both customers and employees. Carclo’s pension scheme will receive £3.5m of the net proceeds of the sale while another £5.0m will be used to reduce debt. Our estimates will remain under review until the interims in mid-January.
02 Jan 2020
Carclo - Sale of Wipac completed
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Carclo - Sale of Wipac completed
Carclo plc (CAR:LON) | 7.4 0 0.0% | Mkt Cap: 5.47m
- Published:
02 Jan 2020 -
Author:
Anne Margaret Crow -
Pages:
2
Carclo has exited from its loss-making Wipac business which has been acquired by Wuhu Anrui Optoelectronics, a manufacturer of LED-based automotive lighting. This ensures continuity for both customers and employees. Carclo’s pension scheme will receive £3.5m of the net proceeds of the sale while another £5.0m will be used to reduce debt. Our estimates will remain under review until the interims in mid-January.