Halma PLC
19 July 2005
HALMA p.l.c. ('Halma')
ACQUISITION OF NETHERLOCKS SAFETY SYSTEMS B.V.
Halma, the leading safety and environmental technology group, announces that on
19 July 2005 it completed the acquisition of Netherlocks Safety Systems B.V.
('Netherlocks') based in Alphen aan den Rijn, the Netherlands. The vendors of
the company are Jacqal B.V., Wolgeest B.V. and Krissan Projects B.V.
The purchase price includes an initial cash consideration of €3 million (£2.07
million), to be funded from Halma's current cash resources. Additional payments
of up to €7 million (£4.8 million) are conditional on profit growth over the
current and following financial year.
Unaudited accounts for the year ended 31 December 2004 show that Netherlocks
generated profit before tax of €742,000 (£512,000) on sales of €2,706,000
(£1,866,000).
Founded in 1993, Netherlocks is globally active in the process interlocking,
valve control and machine guarding markets. The business is particularly well
positioned to benefit from the significant growth opportunities in the
petrochemical sector, one of its key markets.
Andrew Williams, Halma's Chief Executive, commented:
'The addition of Netherlocks will provide us with further strength in a growing
market for our Process Safety business. Making bolt-on acquisitions of this
nature, which increase our product range and distribution capability, remains an
important element of our Group Strategy.'
For further information, please contact:
Halma p.l.c. +44 (0)1494 721111
Andrew Williams, Chief Executive
Kevin Thompson, Finance Director
Hogarth Partnership Limited +44 (0)20 7357 9477
Rachel Hirst/Andrew Jaques
A copy of this announcement, together with other information about Halma, may be
viewed on its website: www.halma.com
This information is provided by RNS
The company news service from the London Stock Exchange
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