WDNY Widney

RNS Number:9200P
Widney PLC
22 January 2007

Widney plc ("Widney)

Widney Cabs



Widney and its subsidiaries ("the Group")

Widney Cabs Limited ("Widney Cabs")

Following consideration by the board of Widney of a serious and recent
deterioration in trading at Widney Cabs and in view of the uncertain outlook
caused by a major customer's transfer of its cab manufacture to Europe, the
board of Widney has determined that its continuing support of Widney Cabs is no
longer in the best interest of the Group and accordingly, is withdrawing such
support. The board of Widney Cabs has appointed an administrator.



The remainder of the Group continues to be profitable. Withdrawing support to
Widney Cabs will lead to a reduction in working capital requirements and
proposed asset sales, including the 9 acres site at Widney Cabs in Northampton,
are expected to leave the remainder of the Group debt free, with a turnover of
approximately #35 million



Brian Stringer, Group Chief Executive, has resigned to pursue other interests
and the board wishes him well.  Joe Grimmond will be stepping up to become
Executive Chairman.



                                                                 22 January 2007



Enquiries:


Widney Plc                                           Tel: 0121 327 5500
Joe Grimmond, Chairman
Graham Errington, Finance Director

College Hill                                         Tel: 020 7457 2020
Richard Pearson




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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