UMECO PLC - Completion of Divestment

RNS Number:2038R
UMECO PLC
31 March 2008

31 March 2008

Umeco completes divestment of Chemicals Distribution business

Umeco plc ("Umeco"), an international provider of supply chain and advanced
composite materials primarily to the aerospace & defence industries, announces
the completion of the disposal of its chemicals distribution business to Haas
TCM.

The divestment, which was announced on 11 March 2008 for a cash consideration of
£13.0 million and leaves Umeco Composites well positioned to focus on its core
advanced composites activities. The proceeds of the divestment will be used by
Umeco initially to reduce Group borrowings.

- Ends -

Umeco plc (www.umeco.com) Tel: +44 (0) 1926 331 800
Clive Snowdon, Chief Executive
Douglas Robertson, Group Finance Director

Hogarth Partnership Tel: +44 (0) 20 7357 9477
Barnaby Fry / Vicky Watkins

Further Information on Umeco plc

Umeco is a leading innovator in distribution, supply chain management for the
aerospace and defence industries, harnessing new methods for enhancing its
customers' performance and profitability.

Umeco also has significant manufacturing interests in advanced composite
materials for a growing range of applications in its core aerospace and defence
markets and in other high performance technology industries such as motor sport,
automotive and wind energy.

Listed on the London Stock Exchange, Umeco had turnover of £333.9 million in the
year to 31 March 2007.

Umeco is managed through two divisions:-

Umeco Supply Chain - a leading international provider of value-added
distribution and supply chain outsourcing services to customers in the aerospace
& defence market. With its specialisation in the supply of small components and
sophisticated IT systems, its growing global customer base can enjoy significant
operational, cost and working capital benefits.

Customers include Rolls-Royce plc, BAE SYSTEMS, Safran Group, Parker Aerospace,
Goodrich, Bombardier, Lockheed Martin and the US Department of Defense.

Umeco Composites - a provider of a complete range of advanced composite
materials principally to the aerospace, motorsport, automotive and wind energy
markets. A growing range of value-added outsourcing services is provided to
major customers.

Customers include Boeing, Airbus, a number of manufacturers of high performance
super cars and Formula 1 teams including Team McLaren Mercedes.

This information is provided by RNS
The company news service from the London Stock Exchange

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