17:00 Thu 30 May 2019
600 Group PLC - Pension Scheme Buyout Completion & Trading Update
("600 Group" or "the Group")
Pension scheme buyout completion and trading update
Pension scheme buyout
The
On
The completion of the transaction provides the Group with significantly greater liquidity and financial flexibility. The
Trading update
Ahead of announcing full year results at the end of June/ early
"The completion of the pension buyout significantly de-risks the Group's balance sheet, providing greatly improved financial flexibility as we continue our strategy for growth and build a global industrials business."
Enquiries:
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Tel: 01924 415000 |
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Tel: 0207 457 2020 |
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Tel: 020 3368 3553 |
WH Ireland (Broker)
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Tel: 020 7220 1666 |
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About
Machine Tools
The business has a strong reputation in the market for metal turning machines. Products range from small conventional machines for education markets, CNC workshop machines and CNC production machines. Selected outsourcing partners support the manufacturing of these machines and they are marketed through the Group's wholly owned international sales organisation and global distribution network.
Precision Engineered Components
Machine spares are distributed to customers globally to help maintain the installed base of group machines which number in excess of 100,000. Additionally, work holding products and taper roller bearings are sold via specialist distributors to OEMs, including other machine builders.
Industrial Laser Systems
Industrial laser systems are a technologically superior alternative to ink jet marking. It requires no consumables and can operate on a continuous high speed basis when integrated into customers' production lines. The business has its own technology and proprietary software. Customer applications are diverse and range from telecommunications to pharmaceuticals. The requirement for increased product and component traceability is one of the market drivers.
More information on the Group can be viewed at: www.600group.com
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