Completion of sale of Molins Instrumentation & Tobacco Machinery division

Date: 01/08/17
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The board of Molins, the global packaging solutions group, confirms that legal completion of the Sale of the Instrumentation & Tobacco Machinery division to G.D S.p.A., a wholly owned subsidiary of Coesia S.p.A., took place on 1 August 2017.

 

Tony Steels, Chief Executive, said:

 

"I am delighted to confirm that the sale of the Instrumentation & Tobacco Machinery division has formally completed. The net proceeds from the Sale will provide us with the financial resources necessary to accelerate the execution of our strategy to expand our presence within the packaging machinery sector and further exploit the growth opportunities that exist."

 

Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as given to them in the Company's circular to shareholders dated 8 June 2017, a copy of which is available to view at www.molins.com.

 

For further information, please contact:

 

Molins PLC

Tony Steels, Chief Executive

David Cowen, Group Finance Director

 

Tel: +44(0)1908 246870

Panmure Gordon (UK) Limited 

Karri Vuori/James Greenwood - Financial Adviser

Andrew Potts, Peter Steel, James Stearns - Nominated Adviser & Broker

 

Tel: +44(0)20 7886 2500

Hudson Sandler

Nick Lyon, Jasper Bartlett

 

Tel: +44 (0) 20 7796 4133