A tale of 2 pension funds….with trading companies attached
There were contrasting announcements this week from 2 of AIM’s senior citizens, both of which are burdened by huge pension obligations. We comment here on a hopefully brighter future for 600 Group and more struggles for Mpac, the former Molins
600 Group (AIM:SIXH), the AIM listed distributor, designer and manufacturer of industrial products, which we last covered back in November 2017, announced that the Trustee of its UK defined benefits scheme has agreed to a buyout of the scheme liabilities by Pension Insurance Corporation Plc, a specialist insurer. With its origins in the 1930s, the SIXH of today operates in two divisions with three principal areas of activity: Machine Tools currently represents around 69% of turnover and 41% of trading operating profit with two areas of activity- Machine Tools and Precision engineered components. The machine tool market is huge but…