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UK Packaging Maker Robinson Sells Property.

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Vincent

MANews-(C)2009-2022

UK-based plastic and paperboard packaging maker Robinson plc (LSE: RBN) has closed the sale of an operational property in Sutton-in-Ashfield, the company said.

On 24 March 2022 the company announced receipt and acceptance of a non-binding offer to sell the Sutton-in-Ashfield property.

The group has now sold the property to a joint venture between Rotherhill Developments Ltd. and Euro Property Investments Ltd., with exchange and completion having occurred on 27 April 2022.

The property is currently used by the group for the manufacture of plastic packaging.

As part of the transaction, the group will leaseback the property for six to nine months.

During this period, production will be relocated to a recently refurbished building on existing Robinson premises in Kirkby-in-Ashfield.

The relocation will require investment of approximately GBP 600,000 and will provide future opportunities to improve operational efficiency in...

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