Camellia Plc
Sale of Abbey Metal Finishing
In line with Camellia (CAM.L, Camellia)'s previously stated strategy involving a review of its non-core investments, Camellia announces the sale of its interests in Abbey Metal Finishing Company Limited and its subsidiary Atfin GmbH in Germany to a newly incorporated company set up by GIL Investments for the purpose of the acquisition and Aerotech GmbH respectively. With the downturn in the aerospace market and recent losses incurred, we are exiting the aerospace market.
Tom Franks, CEO at Camellia, commented:
“The sale of Abbey Metals and its subsidiary in Germany will mean those businesses will now have owners more committed to the aerospace market and therefore better able to invest in their future development.”