Construction Instruments Acquired for £1.29m

Allen PLC 10 January 2000 Allen Plc ('Allen') (Hire Services, Housebuilding, Civil Engineering Contracting, Building Contracting, Property Development & Investment) ACQUISITION OF CONSTRUCTION INSTRUMENTS FOR £1.29 MILLION Speedy Survey Ltd, a new subsidiary of Allen Plc ('Allen'), the construction services group, has acquired the business and certain assets of Construction Instruments Limited ('Construction Instruments') for a cash consideration of £1.29 million. Construction Instruments which operates from depots in Sheffield, Luton, Birmingham and Oldham is engaged in the sale and hire of surveying equipment. The accounts of Construction Instruments for the twelve months to 30 September 1998 showed turnover of £1.63 million. Ken Fox, Allen's Chief Executive, commented: 'This latest acquisition is in line with our strategy of increasingly focusing on the services activities provided by our hire and utilities divisions. 'Speedy Survey, based in Newbury, started trading in October last year and following the successful acquisition of Construction Instruments we estimate that we will have a substantial share of this specialist market.' For further information: Ken Fox (Chief Executive) 01204 699277 Neil O'Brien (Group Finance Director) 01204 699277 Brian Coleman-Smith 0171 786 9600 Binns & Co Public Relations

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Speedy Hire (SDY)
UK 100

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