Carlco trades well, acquires Precision Tool & Molding

Carclo has continued to trade well in the current financial year and its trading performance remains in line with directors' expectations for the year ending 31 March 2017.

"The Board continues to look forward to a year of strong trading and good growth in both of its main divisions," it said in a statement.

Carlco also said US subsidiary CTP Carrera Inc has acquired Precision Tool & Molding LLC, trading as Precision Tool & Die, for an initial consideration of $5.5m cash, plus further deferred consideration of up to $1.0m cash, subject to the satisfaction of certain performance criteria.

The Completion Consideration is subject to a working capital adjustment of up to $750,000, of which, an initial payment of $256,397 was paid upon completion of the acquisition.

The total Working Capital Adjustment will be determined subsequent to the completion of the Acquisition.