RPC Group non-core asset divestment now two-thirds complete

13th Dec 2018 10:51

(Sharecast News) - Plastic products design and engineering company RPC Group updated the market on the divestment of its non-core businesses on Thursday, reporting that it has completed the sale of its non-core spirits closures business at Bridge of Allan, Scotland.The FTSE 250 company said the sale was to GCL International - a subsidiary of Guala Closures Group - for a pre-tax cash free, debt free consideration of £19m.That transaction was not subject to any regulatory or other approvals.RPC's board had announced its intention to dispose of three non-core businesses on 6 June.The sale of the Letica Foodservice business completed on 30 September, with the sale of the spirits closures business marking the second successful sale within the divestment programme."The sale process for the European injection moulding automotive business - comprising of operations at Zevenaar, the Netherlands, and at Rongu, Estonia - has commenced," the board confirmed in its statement."Further updates on this process will be provided in due course."