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24 December 2020 | 09:03am
StockMarketWire.com - Plastic products manufacturer Coral Products said it had agreed to sell assets including a mouldings business to One51 ES Plastics for an estimated initial payment of £7.9 million.
The deal involved the sale of Coral Products Mouldings and Interpack and was expected to be wrapped up in February.
Coral Products said it would be left with Coral Products plc, Tatra Rotalac and Global One-Pack.
The company would continue to hold the freehold for its Haydock site, from which the mouldings business operated, and enter into a 10-year lease with the purchaser at rent of £300,000 per annum.