Bodycote International PLC
11 May 2000
For further information, please contact:
John Chesworth, Managing Director
David Landless, Finance Director
Bodycote International plc Tel: 01625 505300
Edward Bridges/Scott Fulton
Financial Dynamics Tel: 020 7831 3113
BODYCOTE INTERNATIONAL PLC IN 5 YEAR, £10 MILLION OUTSOURCING DEAL
AND ACQUIRES ADDITIONAL MATERIALS TESTING CAPACITY
IN THE UK
Bodycote International plc ('Bodycote' or 'the Group') has expanded its
materials testing division in the UK as a result of 2 new acquisitions on 31
March 2000.
Materials Engineering and Testing Limited, based in Lancaster, has been
acquired for £1.25 million cash and will strengthen the Group's geographical
base in the provision of fatigue analysis and materials engineering services
to the aerospace industry.
In a separate transaction on the same date, the business and assets of
Commercial X-Rays (CXR) was acquired for a cash consideration of £840,000 from
Mettis Group Limited. The deal includes a co-operation agreement for the
supply of heat treating, materials testing and hot isostatic pressing services
to Mettis Group companies. CXR provides non-destructive testing services to
the aerospace and power-generation industries and will be integrated with
Bodycote's Radiographic division in the Midlands.
This division also won an outsourcing agreement worth £10 million over 5 years
from Doncasters Precision Castings Limited which will result in the
establishment of a new testing facility at Droitwich to test turbine blades
used in the manufacture of land based gas turbines.
Commenting today, John Chesworth, Managing Director of Bodycote, said today:
'We continue to build our presence in the UK in the materials testing market.
The contract with Doncaster is a further example of Bodycote's ability to
partner with major manufacturers to improve efficiency by outsourcing'.
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