31 October 2013 – acquisition
The niche plastics products group has expanded its operations in China with the acquisition of Beijing Higher Shengli Printing Science and Technology (Shengli) for expected consideration of £2.2m. The acquisition has been funded by the placing of 2.7m shares at 100p. Apart from increasing the company’s presence in China, Shengli will also fit well with the group’s C & T Matrix Limited business and is expected to be earnings enhancing in its first full financial year. We maintain our recommendation of BUY.