CML Microsystems PLC CML plans for new business hub at Oval Park (5341A)
26 Septembre 2022 - 8:01AM
UK Regulatory
TIDMCML
RNS Number : 5341A
CML Microsystems PLC
26 September 2022
26 September 2022
CML Microsystems Plc
("CML", the "Company" or the "Group")
CML plans for new state of the art business hub at Oval Park
CML Microsystems Plc, which develops mixed-signal, RF and
microwave semiconductors for global communications markets, is
pleased to announce plans to create significant and sustainable
employment opportunities at its current 29-acre site located at
Oval Park, Maldon.
On 5 July 2022, the Company announced in its final results that
its Oval Park site is designated employment land in the Maldon
District Plan and part of this land is excess to CML's trading
requirements, which had led the Company to sign sale contracts with
two separate parties, subject to them gaining appropriate planning
permission for development on approximately 13 acres of land. A
series of planning applications have now been submitted to Maldon
District Council to create a state-of-the-art business park hub and
additionally the site will house two world leading organisations in
their respective fields, Maldon Crystal Salt company and Tecniq,
whose relocation to the site will provide the corner stone of the
development.
The transformation of the 29-acre brownfield Oval Park site,
which CML has owned for over 20 years, into an exciting new
business development with spacious offices, warehousing and
world-class R&D facilities is expected to bring over 200 jobs
to the district by 2024 and potentially many more in the next few
years.
The development of the site marks a milestone in the Group's
strategy to dispose of excess land where it is in shareholders'
interests to do so.
Subject to planning permission, work is due to start on the site
in 2023.
Nigel Clark, Chairman of CML Microsystems commented :
"The creation of a state of the art business park coupled with
the relocation of the Maldon Salt Company and Tecniq, two world
leading organisations in their respective fields, co-locates a trio
of quality British companies providing the corner stone of the
development - the best of British. The development of the Business
Park provides other organisations the opportunity to join us and
locate to Oval Park, attracting further investment into the Maldon
District whilst also providing local companies the opportunity to
raise their profile."
About Maldon Salt
Maldon Salt is the UK's leading salt brand, founded in Maldon in
1882. Maldon is a Royal Warrant holding family run business,
dedicated to investing in its number one asset, its people.
Exporting to over 60 countries around the world, Maldon is
dedicated to its CSR mission and is a World Land Trust partner.
Maldon has ambitious, innovative growth plans and has produced
successful, sustainable year and year growth.
About Tecniq
Tecniq is a world class design and technology lead manufacturing
company, with a 20-year pedigree working for car manufacturers
worldwide, including Aston Martin, Bentley, Porsche Singer and
Tesla. Tecniq is proud of its global reputation for combining
creativity, innovation and craftmanship. Tecniq has grown rapidly
in the past six years and is looking to grow its team to over 200
people by the end of 2022, including by investing in training and
apprenticeships for current and new workers and is currently
working alongside the University of East Anglia on graduate
placements.
CML Microsystems Plc www.cmlmicroplc.com
Chris Gurry, Group Managing Director Tel: +44(0)1621 875 500
Nigel Clark, Executive Chairman
Shore Capital (Nominated Adviser and Broker) Tel: +44(0)20 7408 4090
Advisory
Toby Gibbs
James Thomas
John More
Corporate Broking
Fiona Conroy
Alma PR Tel: +44 (0)20 3405 0212
Josh Royston
Andy Bryant
Matthew Young
About CML Microsystems PLC
CML develops mixed-signal, RF and microwave semiconductors for
global communications markets. The Group utilises a combination of
outsourced manufacturing and in-house testing with trading
operations in the UK, Asia and USA. CML targets sub-segments within
Communication markets with strong growth profiles and high barriers
to entry. It has secured a diverse, blue chip customer base,
including some of the world's leading commercial and industrial
product manufacturers.
The spread of its customers and diversity of the product range
largely protects the business from the cyclicality usually
associated with the semiconductor industry. Growth in its end
markets is being driven by factors such as the appetite for data to
be transmitted faster and more securely, the upgrading of telecoms
infrastructure around the world and the growing prevalence of
private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things
(IIoT).
The Group is cash-generative, has no debt and is dividend
paying.
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