Acquisition

RNS Number : 6702A

Chamberlin PLC

04 February 2011

 



CHAMBERLIN plc

("Chamberlin" or the "Group")

 

Announces

Acquisition of certain assets of Jebron Ltd (in Administration)

 

Chamberlin plc (AIM: CMH.L), the specialist engineering  group, is pleased to announce the acquisition  of certain assets and the intellectual property of Jebron Ltd (in Administration) ("Jebron"), the UK engineering business which designs and supplies high performance door closers,  for a total consideration of £162,000 in cash.

The purchase represents a highly complementary addition to Chamberlin's engineering subsidiary, Exidor, which is the UK market leader in emergency exit hardware.  The assets and IP acquired from Jebron will enhance Exidor's product offering and the acquisition is expected to be swiftly and fully integrated within Exidor's site in Cannock.  Additional costs of up to £100,000 are expected to be incurred in the current year as integration begins.  Once integrated, the Board believes that the acquisition will add over £1.0m of profitable sales to Exidor.

Tim Hair, chief executive, commented,

"We are pleased to have purchased these assets and the intellectual property of Jebron.  They will enhance our engineering subsidiary, Exidor's product offering and, most importantly, they should add over £1m of profitable revenues to the subsidiary after integration is completed." 

Chamberlin plc		T: 01922 707100
Tim Hair, Chief Executive
Mark Bache
Charles Stanley Securities(Nominated Adviser)		T: 020 7149 6000
Russell Cook
Luke Webster
Biddicks		T: 020 7448 1000
Katie Tzouliadis / Sophie Lane

 

 

END

 

 

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