Duroc has acquired 7% of Carclo plc
Duroc has today, in accordance with the UK stock exchange rules, announced the acquisition of 7% of the share capital in the UK-listed company Carclo plc. The total investment amounts to approximately SEK 30 million.
Carclo plc is an industrial group with a turnover of approximately SEK 1,700 million distributed over three independent business areas. For additional information, see http://www.carclo.co.uk.
Carclos’ respective business areas have historically shown strong profitability as well as growth. Significant investments have been made in recent years in expanding the Group’s production capacity.
Problems with staffing and bringing on new capacity as well as additional product lines, together with high central costs as well as deficits in the defined pension plan, for which the company is the guarantor, have resulted in a decline in profitability as well as a weak stock market performance in recent years.
Duroc’s acquisition cost for the Carclo shares is based on the lowest price level the Carclo share has reached during the last ten years. Carclos’ current share price is lower than 10% of the share’s highest point in August 2012.
For further information
John Häger, Chief Executive Officer, +46-702 48 72 99