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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