Electronics Production | June 15, 2010
Stadium Group divests non-core business
UK-based Stadium Group plc has sold its last plastics business in order to focus on its core electronics operations.
The Branded Plastics business, incorporating Stadium Building Products and Quest Consumer Products (both based in Chingford East London), have been sold to Flambeau Europlast Ltd. Commenting on the transaction, Chairman Nick Brayshaw OBE said: "This transaction marks a further milestone in the implementation of our strategy to develop Stadium as a leading electronics business. We believe that the market for our services offers high growth potential and are pleased to have the additional resources available to continue to invest in our existing facilities, and to develop the business by further acquisition activity, should suitable opportunities arise." Nigel Rogers, Chief Executive added: "For many years our strategy has been to develop the core electronics business, which has resulted in the acquisitions of our wholly owned China manufacturing operation, a second UK manufacturing site in the Midlands and three acquisitions in our power supply division. Additionally, we have seen critical mass gained in electronics in the past 12 months following significant contract wins in high growth market sectors, and so the time is right to focus our resources in the areas which present most opportunity." John Wingfield, Managing Director at Flambeau Europlast Ltd commented: "The acquisition of the Stadium Branded Plastics business enables us to complement our existing trade moulding with our own established product lines in specific market sectors. We look forward to developing strong relationships with our new customer base by utilising Flambeau’s resources in the UK, Europe and the US."