Heavy machine guns supplier Manroy is considering the future of its 49%-owned Manroy USA operation.
Manroy is considering the strategic options for the US business. Herstal and Baretta are still interested in bidding for Manroy but they may be more interested in the US operations on their own.
Manroy is also increasing its UK capacity so that it can make more of the components of its machine guns itself rather than by outside suppliers or Manroy USA. This will enhance margins. Orders have already been received and export licences awarded for the guns.
Manroy will invest £750,000 in its Slade Green factory and this will be provided by 23.1% shareholder Caledonian Heritable Ltd and it will cost £350,000 in interest charges up until its repayment at the end of November 2014.
At 73.5p a share, Manroy is valued at £14m. Manroy floated at 75p a share more than three years ago
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