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AVON RUBBER p.l.c. (“Avon”, the “Group” or the “Company”) SALE AND LEASEBACK OF CADILLAC FACILITY
Avon announces the completion of the sale and leaseback of their Avon Protection Systems facility in Cadillac, Michigan, USA to RMD Cadillac, LLC and two other purchasers. The transaction has a sale value of $2.6m (£1.7m) and the net proceeds after fees and other associated costs will approximate the net book value of this asset on disposal. The net proceeds of $2m (after tax) will be used to pay down debt.
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