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Icon buys Silvertown: begins search for new site.(News)

Publication: European Rubber Journal
Publication Date: 01-JAN-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Liz White

Icon Polymer Group has moved a step closer to its aim of becoming a [pounds sterling]50-million ([euro]90-million) turnover business with its 1 Jan purchase of the Silvertown UK Ltd business for [pounds sterling]10 million.

Icon borrowed the cash to buy Silvertown a...

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...from its original backers, Lloyds TSB and Lloyds venture capital arm, said Richard Gogerty, Icon's chief executive officer and major shareholder, in 9 Jan telephone interview.

Silvertown's major engineering products business, supplying bearings and antivibration systems for civil engineering, transport and marine uses, adds [pounds sterling]13 million to Icon's annual turnover of [pounds...

NOTE: All illustrations and photos have been removed from this article.



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