Acquisition

RNS Number : 2890D

Avon Rubber PLC

26 April 2013

 



News Release

Strictly embargoed until 07:00 26 April 2013

AVON RUBBER p.l.c.

("Avon", the "Group" or the "Company")

Avon Rubber p.l.c. has acquired the business and assets of VR Technology ("VR"), a market leader in diving rebreather systems and dive computers. VR's products and key technologies will complement and enhance Avon's current and planned product ranges and increase respiratory protection opportunities for the Group, in particular with navies around the world.

The Group also announces that it has acquired purpose built freehold premises in Picayune, MS, USA, for use by its subsidiary Avon Engineered Fabrications in anticipation of the expiry of the lease of its existing premises on 30 September 2013.  

The total cash consideration for the two transactions is £3m.  The transactions are not expected to impact forecast earnings for the current financial year apart from one-off exceptional transaction and relocation costs and the amortisation of acquired intangibles totalling £0.5m.

For further enquiries, please contact:

Avon Rubber p.l.c.
Peter Slabbert, Chief Executive	01225 896 870
Andrew Lewis, Group Finance Director	01225 896 830
Sophie Williams, Public Relations Manager	07769 282 878
Weber Shandwick Financial
Nick Oborne	020 7067 0700
Stephanie Badjonat

NOTES TO EDITORS: Avon Rubber p.l.c. is a world leader in the design, test and manufacture of advanced Chemical, Biological, Radiological and Nuclear (CBRN) respiratory protection solutions to the worlds military, law enforcement, first responder, emergency services, fire and industrial markets. Avon has a unique capability in CBRN protection based on a range of advanced CBRN technologies in respirator design, filtration and compressed air breathing apparatus. This enables Avon to develop specialised solutions that take full account of user requirements. Avon also owns a world leading dairy business manufacturing liners and tubing for the automated milking process. For further information please visit the Group's website www.avon‐rubber.com

 

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