The Rencol Components Limited board are pleased to announce

Rencol Components Limited has bought the business and assets of Ray Engineering Company Limited (Ray) on 15 February 2010. As part of that transaction, Rencol Components Limited assumed all of Ray's debts and other liabilities to its trade creditors, its bankers and to HM Revenue and Customs. Although Rencol Components Limited was incorporated as a wholly owned subsidiary, Ray sold Rencol Components Limited to US investors on 3 March 2010. The new owners have already made a significant input and investment in Rencol Components Limited and this will continue as the company implements its new and far-reaching strategic plans. As you may be aware, Ray had entered creditor's voluntary liquidation on 26 March 2010. Rencol Components Limited is, and has for some weeks, been a completely separate legal entity from Ray, and neither Rencol Components Limited nor its customers and suppliers are affected in anyway by the liquidation of Ray. This is an extremely exciting time for Rencol Components Limited and we will keep our customers up to date with all new developments and opportunities as they develop.

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