PIE-TICKER: Celotex undergoes management buy-out

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Celotex undergoes management buy-out

UK brand leader for polyisocyanurate (PIR) insulation board, Celotex (www.celotex.co.uk), Hadleigh, Suffolk, has undergone a management buy-out from a group of private shareholders in a deal valued at GBP 29m. In response to strong demand for PIR board, Celotex is currently investing GBP 4.5m in increased production facilities that are expected to triple output. The financing package also provides an additional GBP 5.7m to support further planned investment.

29.10.2004 Plasteurope.com [12144]

Published on 29.10.2004

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