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    A&P deal gets the OK

    Yard News // February 1, 2002
    A&P Group has announced that its purchase of the majority of the former Cammell Laird facilities is not to be referred to the Office of Fair Trading (OFT). During August of 2001, A&P Acquisitions Ltd purchased, on a facility only basis, the yards at Birkenhead, Hebburn (Tyneside) and Teeside from the receivers of Cammell Laird, PriceWaterhouseCoopers. The purchase of Cammell Laird's facilities was funded by Royal Bank Private Equity.

    The facilities purchased included all drydocks and associated fabrication/workshop facilities, property, plant and equipment. The yards were not purchased as 'going concerns' with no ship repair or conversion projects being taken over. The yards have allremained mothballed while the decision wasmade whether to refer the purchase to the OFT.

    A&P Group's Chief Executive, David Ring, said: "We are pleased that the OFT has decided not to refer our purchase of the assets of Cammell Laird. We were not surprised at this decision as we operate in a highly competitive market and compete very hard for all our contracts. We are actively seeking work for all A&P's shipyards and hope we will be able to re-open the former Cammell Laird facilities."

    A&P Group already operate facilities at Falmouth, Southampton, Dover, Tilbury, Chatham, Ramsgate and Tyne. The additional facilities will give A&P entry to the UK West Coast repair market for the first time.

    It is unlikely that, on a short term basis, the former Cammell Laird facilities will open immediately. However, A&P is active in all aspects of the shiprepair industry, large and small, and in the larger conversion industry. It is therefore likely that A&P will re-open the facilities as and when suitable workfrom these markets is found.

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