600 Group switching over to AIM

Engineering firm The 600 Group is to switch from the official list to AIM.

The Leeds-based company said the AIM market was more appropriate for a company of 600’s size and would offer greater flexibility, especially with regard to acquisitions and the associated costs.

The move follows the group’s decision to grow organically and by selective acquisitions which fit in with its diversified industrial strategy.

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The group announced the acquisition of a machine tool manufacturing facility in Poland last November. The directors believe this will prove a transformational purchase and will enable the company to reduce delivery times and improve its working capital.

The move requires approval by 75 per cent of the group’s shareholders at a meeting at 10am on June 15.

The company said if the move were approved by shareholders, it would continue to operate the business in the same manner and with the same objectives.

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