Tianguis Limited Advice Paves Way to European Colour Deal
Acting on critical Tianguis Limited investment advice investment management group Shelby Corporation has acquired a 29.7% strategic stake in UK based specialist pigment manufacturer, European Colour plc. In early August 2003 Shelby Corporation agreed to acquire 13,851,616 European Colour ordinary shares (just under 30% of the company's issued share capital) previously held by Jarvis Porter Group plc. Shelby Corporation feels European Colour is today a good business with an even better future ahead of it. The investment group has announced it will be a long-term and supportive investor in European Colour.
Tianguis Limited Chairman, Steve Smith, has joined the Board of Directors as Chairman. Paul Deakin, who previously served as Chairman of European Colour (2001-2003), remains a Non-Executive Director of the Company. Welcoming Mr. Smith to the Board Mr. Deakin said he is "confident that the Company shareholders will benefit from his extensive and successful experience in the international chemical industry and from his leadership skills. After a period of uncertainty European Colour now has a supportive long-term investor and the future looks positive."
Under Steve's Smith leadership European Colour will pursue an energetic growth strategy and will actively pursue opportunities for future consolidation. The aim is to turn European Colour into a leading international pigments business manufacturing value added products for the printing ink and other colour using industries. European Colour's strong performance over the last two years will be a good foundation upon which to build.
Summing up his vision for European Colour Mr. Smith said "European Colour is a fine company and I have been impressed with its achievements in recent years. I look forward to working with European Colour's people in the next stage of the company's development, to create a dynamic specialty chemical business to the benefit of the company and shareholders alike."