CARCLO
Antony Collins is new interim CEO / Sale of LED division not yet cut and dried
Wipac’s business includes lenses for LED applications (Photo: Carclo)
Injection moulder Carclo (Ossett / UK; www.carclo.co.uk) is still intending to sell its Wipac LED division – see Plasteurope.com of 24.06.2019. It has announced that due diligence is at an advanced stage with potential buyers, although a sale is by no means certain.

This segment, which operated at a high loss over the past few quarters, has recently achieved better results after board chairman Mark Rollins, who was acting CEO for a while, returned a large number of unprofitable orders to customers or passed them on to other processors. The company is also again in a more secure position with respect to its debt situation.

Earnings in the two other divisions – Technical Plastics (CTP) and Aerospace – exceeded expectations in the first five months of the 2019/20 financial year (ending 31 March). At CTP, operating results were also better than for the same period in the previous year.

Rollins withdrew from his executive capacity and returned to a non-executive chairman role on 1 October 2019, with Anthony Collins, brought in as a turnaround specialist, taking over as interim CEO. Prior to this, Stephen Nixon was appointed interim COO. All in all, hardly a stone has been left unturned in the Carclo management – group finance director Sarah Matthews-DeMers is also leaving the company at the end of October.
17.10.2019 Plasteurope.com [243592-0]
Published on 17.10.2019
Carclo: Collins beerbt Mark Rollins als Interims-CEOGerman version of this article...

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