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UMECO - Acquires Advanced Composites

May 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • UMC
UMECO has acquired Advanced Composites, a leading international supplier of high performance advanced composite materials to OEMs in the motorsport, automotive and aerospace & defence markets.  Derby-based, ACG cost £44.25m, making it by far the group's largest ever deal and is being funded through a 1 for 3 rights issue at270p (raising net £21m) and new bank facilities. ACG, which makes 45% of its sales from motorsport & automotive, including theFormula 1 teams and 30% from aerospace and defence customers, has impressively grown its operating profit by 27% to £3.8m in the last three difficult years.  This, along with industry topping operating margins of 11% (reflecting the technical nature of its ...

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