Hill & Smith Hldgs PLC
6 June 2000
HILL & SMITH HOLDINGS PLC
('Hill & Smith' or the 'Group')
In line with our strategy of adding to the Group's core activities, the Board
of Hill & Smith is pleased to announce the acquisition of two operations,
which dovetail into the Group's existing road furniture market and operations.
The first acquisition consists of the highway parapets division of Baco
Contracts, itself a division of British Aluminium Limited. The cost of
intellectual property and assets purchased, together with goodwill, was
£404,000.
This operation, which designs, manufactures and installs aluminium parapets
for the UK and worldwide markets, consolidates the position of Varley &
Gulliver, a wholly owned subsidiary of Hill & Smith, in the worldwide parapet
market.
The second acquisition was for the total share capital of Dundec Barrier
Systems Limited. The cost of the acquisition will lie between £200,000 and
£410,000, dependant upon completion accounts and order book received.
Dundec Barrier Systems Limited installs car park barrier and owns a
proprietary system called 'Optimum'. When placed alongside the Berry division
of Hill & Smith Limited, it completes Hill & Smith Limited's spectrum of car
parking barrier options.
The Group has funded both these acquisitions from internal resources.
For further information, please contact:
Hill & Smith Holdings PLC Tel: 01902 357910
David Grove, Group Chief Executive
Rawlings Financial PR Limited Tel: 01756 770376
Catriona Valentine
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