Sale of WHG and Defence

Monday, April 30, 2012

"The sale of two Wellman Companies, completed on April 5th 2012, has opened up tremendous opportunities for the on-going operations in Oldbury, West Midlands.

Corac PLC purchased the Wellman Hunt Graham and Defence Companies.

This has enabled the Shareholders, Tatjana Stream and Graham Lucking, to discharge all Wellman Group debt and to re-invest £3m, in Wellman Thermal Systems Ltd, for the future security and development of Process Engineering, Furnace Engineering and Robey Boilers. In addition Wellman is now well placed to further underwrite ongoing and future Research and Development in New Technology, New Engineering and New Products.

Wellman has exciting years ahead, in contrast to the difficult economic climate affecting many Companies competing with us. We can now build and grow on our Strengths. "

Graham Lucking
Chairman

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