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Molins Announcement - 8th June 2017

Today we announced that we have entered into a binding agreement with GD S.p.A., a subsidiary of Coesia S.p.A., to sell to them our Instrumentation & Tobacco Machinery division, which comprises Cerulean, the Group’s quality control, testing and analytical instrumentation business and Molins Tobacco Machinery, which designs, manufactures and services secondary tobacco processing machinery. The completion of the transaction is expected to be at the end of July 2017, subject to the necessary consents and approvals.

 

Read more here: Molins Announcement

Langen is now known as Molins Langen!

The Langen Group has been a part of the Molins business for over 20 years and has been a world leader in innovative packing solutions world-wide for nearly 60 years. Langen comes together with Molins to form a single company, retaining the brand name, ethos and heritage of the Langen name making Molins Langen machinery your first choice company for make-pack-test-sustain solutions. 

 

 

Read more here: Molins announcement

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From the rest of the group

Completion of sale of Molins Instrumentation & Tobacco Machinery division

The board of Molins, the global packaging solutions group, confirms that legal completion of the Sale of the Instrumentation & Tobacco Machinery division to G.D S.p.A., a wholly owned subsidiary of Coesia S.p.A., took place on 1 August 2017.

 

Tony Steels, Chief Executive, said:

 

"I am delighted to confirm that the sale of the Instrumentation & Tobacco Machinery division has formally completed. The net proceeds from the Sale will provide us with the financial resources necessary to accelerate the execution of our strategy to expand our presence within the packaging machinery sector and further exploit the growth opportunities that exist."

 

Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as given to them in the Company's circular to shareholders dated 8 June 2017, a copy of which is available to view at www.molins.com.

 

For further information, please contact:

 

Molins PLC

Tony Steels, Chief Executive

David Cowen, Group Finance Director

 

Tel: +44(0)1908 246870

Panmure Gordon (UK) Limited 

Karri Vuori/James Greenwood - Financial Adviser

Andrew Potts, Peter Steel, James Stearns - Nominated Adviser & Broker

 

Tel: +44(0)20 7886 2500

Hudson Sandler

Nick Lyon, Jasper Bartlett

 

Tel: +44 (0) 20 7796 4133

 

 

Directorate Change

The Board of Molins PLC, the global packaging solutions group, announces the appointment to the Board of Jim Haughey, who will succeed David Cowen as Group Finance Director.

 

Jim, a Chartered Accountant, has spent the last seven years with Bodycote plc as Group Financial Controller, where he played an important role in the management of three significant US acquisitions.  He previously held senior financial positions at FKI PLC, Bridon PLC and Certex Europe. He began his career at Touche Ross in 1988 before joining Bridon as Assistant Group Financial Controller in 1992.

 

Jim's appointment will take effect on 25 November 2017 and will further strengthen the executive leadership as it focuses on the delivery of the Company's strategic objectives set out earlier this year.

 

David Cowen will, following completion of the sale of the Instrumentation & Tobacco Machinery division, step down from the Board and leave the Company on 30 September 2017 after serving 18 years to pursue new challenges. He has agreed to remain on hand for approximately three months thereafter to effect an orderly handover of his responsibilities.

 

Phil Moorhouse, Chairman of Molins PLC, commented:

 

''It is a great pleasure to welcome Jim to Molins. His extensive financial, M&A and international experience at a senior level will be extremely valuable as Molins looks to execute its long term growth strategy.

 

''I would also like to thank David Cowen for his valued contribution to Molins over the last 18 years and we wish him all the very best for the future.''

 

For further information, please contact:

 

Molins PLC

Phil Moorhouse, Chairman

Tony Steels, Chief Executive

 

Tel: +44(0)1908 246870

Panmure Gordon (UK) Limited (NOMAD)      

Andrew Potts, Peter Steel – Corporate Finance

James Stearns – Corporate Broking

 

Tel: +44(0)20 7886 2500

Hudson Sandler

Nick Lyon, Jasper Bartlett

 

Tel: +44(0)20 3178 6378