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| Management Buy-Out | ||
| I am
pleased to announce that on Friday 20th December 2002, John Woodrow
and I completed the purchase of shares of Astralux Dynamics Limited
from Vector Industries Limited. This is, in effect, a management
buy-out and I will continue to fulfil my current role as Managing
Director, and John as Financial Director and Company Secretary. |
|
|
| The
company name will remain unchanged and the management team and
indeed the whole workforce will be unaffected.
Astralux was established in 1948 and manufactures primarily in the UK in a 2500 mē factory in Brightlingsea. We will continue to produce the Astralux range of switching devices, electronic control products, and telecommunications interconnection equipment and components. Manufacturing will be supported by our in-house design, development and environmental testing capability. The ISO 9001 quality approval and the BASEEFA approvals will be maintained, as will the Health, Safety and Environmental policies. Similarly all liability insurances, employment practices and legal requirements for the business remain in place. Sufficient investment capital is available to support existing and new projects, and the balance sheet and financial controls are strong. We believe that our action will give the company a period of stability to prepare for the future demands of our industry. We are extremely grateful for the support and encouragement offered by our customers and suppliers and intend to maintain and improve our reputation for world-class quality and delivery performance. Geoff Earl Managing Director |
||
Copyright © 2003 Astralux Dynamics Ltd.