IPP GROUP can confirm it has held initial discussions with Mr. Bob Young, Administrator and indicative numbers have been mentioned. In due course and following the necessary due diligence procedure a formal written offer subject to contract will be made.
IPP are a global business in the manufacture and supply of pipes, flanges and fittings to the Oil, Gas and Petro-chemical industries. The group has a solid financial foundation and its revenue streams are not connected to football or related industries. If the offer for PVFC is accepted and an acquisition takes place then, it will become the smallest business in the IPP Group. IPP can confirm it has no prior connections with anyone to do with PVFC.
As you will appreciate, it is early days and out of respect for the other bidders and for a fair and due selection process no further comment will be made at this stage.