Avon Rubber falls into loss, will sell engineered fabrications unit

ERJ staff report (DS)

London — Avon Rubber plc reported a net loss of £19.5 million (euro 23.2 million) for the 12 months to September 2008, compared with a small profit of £1.1 million a year ago. Sales were up by over 10 percent at £54.6 million (from £48.7 million), but the company made an operating loss of £4.1 million pre-exceptionals, which translated to £12.6 million loss after exceptionals.

In an effort to reduce debt levels, the company intends to sell its US Engineered Fabrications business

In its…

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