The Company today announces that its subsidiary, Devro (Scotland) Limited, has entered into a conditional agreement to sell 34.5 acres of land at Moodiesburn, Scotland to Walker Holdings (Scotland) Limited.
The agreement is conditional upon satisfactory planning and other local authority consents being granted. The price is linked to these consents but is expected to be in the region of £7.25 million.
Subject to satisfactory consents, completion is expected to take place in the third quarter of 2004.
| Graeme Alexander | Chief Executive | 01236 879191 |
| John Neilson | Finance Director | 01236 879191 |
| Jon Coles, Mark Antelme | Brunswick | 020 7404 5959 |