Spirax-Sarco Engineering PLC
03 March 2008
3rd March 2008
Spirax-Sarco acquires Italian manufacturer of mechanical level controls
for €1.2 million (£0.9 million)
Spirax-Sarco Engineering plc announces that, through its subsidiary company Ampe
Italia S.r.l., it has agreed to acquire the entire issued share capital of
Colima S.r.l., based in Milan, Italy. Completion will take place at the end of
March, subject to routine Closing conditions.
Colima manufactures a range of mechanical and magnetic level controls which is
marketed to a range of customers, predominantly within Italy and which are
complementary to Ampe's existing product offering. Colima enjoys a particularly
good reputation within the shipbuilding industry.
The purchase consideration of €1.2 million (£0.9 million) excludes any cash or
debt balances and will be financed from the Group's existing cash resources.
€0.6 million (£0.46 million) of the consideration is payable on Completion, with
the balance payable in instalments during the next two years.
Contact details:
Marcus Steel - Chief Executive
Mark Vernon - Chief Operating Officer
David Meredith - Director Finance
Spirax-Sarco Engineering plc
Charlton House
Cheltenham
Gloucestershire
GL53 8ER
Tel: 01242 521361
Fax: 01242 581470
www.SpiraxSarcoEngineering.com
This information is provided by RNS
The company news service from the London Stock Exchange
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