Dawson sells Todd & Duncan

摘要

Dawson International has signed an agreement with Ningxia Zhongyin Cashmere Company Ltd (Zhongyin) for the conditional sale of cashmere yarn specilists Todd & Duncan. The business and assets will be acquired by a wholly owned subsidiary of Zhongyin, renamed Todd & Duncan Ltd. Zhongyin is a major supplier of cashmere fibre to Todd & Duncan. Based in Kinross, Scotland, Todd & Duncan has approximately 200 employees and these will transfer to the new company, according to Dawson. In 2008 Todd & Duncan reported an operating loss of £0.5 million after exceptional charges on a turnover of £22.2 million. Net assets at the year end were £14.6 million, with the average for the year being £16.3 million.