NEWSREVIEW Rank Hovis to sell two flour mills to Whitworth Bros. WYCOMBE, UNITED KINGDOM - Rank Hovis Ltd. plans to sell WZRÀRXUPLOOVDQGFORVHDWKLUGOHDYLQJLWZLWKMXVWRQHÀRXUPLOO +RYLVVDLGWKHGHFLVLRQUHÀHFWVWKHFRPSDQ\¶VVWUDWHJ\³WRLGHQWLI\ WKH EHVW ZD\ IRUZDUG LQ DQ HFRQRPLFDOO\ FKDOOHQJLQJ HQYLURQPHQW ZLWKLQDKLJKO\FRPSHWLWLYHPDUNHW´ +RYLVVDLGLWZLOOFORVHLWVPLOOLQ6RXWKDPSWRQZKLFKHPSOR\V ZRUNHUV DQG VHOO LWV 0DQFKHVWHU DQG 6HOE\ IDFLOLWLHV WR:KLWZRUWK %URV /WG +RYLV VDLG WKH 6RXWKDPSWRQ PLOO LV ³VLJQL¿FDQWO\ ORVV PDNLQJ´DGGLQJWKDWWKHGHFLVLRQWRFORVHWKHPLOOFDPHDIWHUDUH YLHZRIWKHPDUNHWSODFHDQGDQWLFLSDWHGFRVWVRIRSHUDWLQJWKHVLWH ³+RYLVKDVVXFFHHGHGLQEXLOGLQJDVWURQJDQGVXFFHVVIXOEXVLQHVV WKDWUHÀHFWVRXUKHULWDJHDVD8.IDPLO\IDYRULWHZKLOHDOVRDGDSW LQJ WR IXWXUH RSSRUWXQLWLHV´ VDLG 1LVK .DQNLZDOD FKLHI H[HFXWLYH RI¿FHURI+RYLV/WG³:HKDYHDFOHDUO\GH¿QHGVWUDWHJ\WRLQYHVWLQ DQGFRQWLQXHWRJURZRXUEDNHU\EXVLQHVVDQGWREHDOHDGLQJTXDO LW\PDQXIDFWXUHU ³7KH VDOH RI WZR 5DQN +RYLV 0LOOV WKH SURSRVHG 6RXWKDPSWRQ PLOOFORVXUHDQGWKHLQWHJUDWLRQRIWKH:HOOLQJERURXJKPLOOLVSDUWRI WKHSURFHVVWRIXWXUHSURRIRXUFRUHEDNLQJEXVLQHVVLQWKHFRPSHWL WLYHPDUNHW ³:KLOHZHQHYHUWDNHGHFLVLRQVVXFKDVWKHVHOLJKWO\ZH¿UP O\EHOLHYHWKLVLVWKHULJKWGHFLVLRQIRUWKHEXVLQHVVDQGHQVXUHV +RYLV ZLOO FRQWLQXH WR JURZ DQG SURVSHU DV D JUHDW 8. EUDQG DQG EDNHU\ PDQXIDFWXUHU LQ D YHU\ FRPSHWLWLYH PDUNHWSODFH 2XUSULRULW\QRZLVWRZRUNZLWKDIIHFWHGPLOOLQJFROOHDJXHVDQG Rank Hovis will sell its Selby (left) and Manchester facilities to Whitworth Bros. Ltd. Photos courtesy of Rank Hovis Ltd. FXVWRPHUVWRPLQLPL]HWKHLPSDFWRQWKHP´ +RYLVVXVWDLQHGDORVVRI¼PLOOLRQLQDQLPSURYHPHQW IURPD¼PLOOLRQORVVLQ ,Q3UHPLHU)RRGVZKLFKDFTXLUHG5DQN+RYLVLQVROG D FRQWUROOLQJ VWDNH WR WKH 86 LQYHVWPHQW ¿UP7KH *RUHV *URXS 3UHPLHU)RRGVWRGD\KDVDVWDNHLQWKHFRPSDQ\¶VEDNLQJDQG ÀRXUPLOOLQJEXVLQHVV ÀÞ}«ÀiVÃqÞÕÀLiÃÌ}Õ>À>Ìii vÀ>+Õ>ÌÞ &QWDNG(NQY&T[KPI5[UVGO *ÀiVÃyÜÀi}Õ>Ì ÌÀiµÕÀi`ÃÌÕÀi° ÛiÀÌiÀVÌÀi`v>ð i``i«Ì Û>À>LÌÞ° >ÝÕ i>ÌÀiVÛiÀÞ° À«ÌÕ«iÀvÀ>Vi >`µÕ>ÌÞiÛiÀÞV`Ì° *ÀÛiÛiÀ£ääVÕÌÀià ÈVÌiÌð ÜÜÜ°>Û>L>V }ÀÕ«°V Üi`ÀÞJ>Û>L>V °V°Õ ³{{-䮣ÈÈÈxÇÇäää -iiÕÃ>Ì >ÓÇÃÌ>` xÓ 12 November 2018 / World Grain / www.World-Grain.comhttp://www.alvanblanchgroup.com http://www.World-Grain.com