Acquisition

RNS Number : 1343Y

Spirax-Sarco Engineering PLC

27 August 2009

 



Spirax-Sarco Engineering plc	Charlton House Cheltenham Glos. GL53 8ER
News Release	Telephone: [phone] Fax: [phone] www.SpiraxSarcoEngineering.com

27th August 2009 

Spirax Sarco acquires Maso Process-Pumpen GmbH 

Spirax-Sarco Engineering plc announces that, through its subsidiary company Watson-Marlow GmbH, it has completed the acquisition of the MASO and SINE business based in Germany from Maso Process-Pumpen GmbH and Sundyne Corporation ('MasoSine').

MasoSine's range of pumps is marketed mainly to the sanitary pump market in Europe and North America under the trade names Maso and Sine. The Watson-Marlow Pumps Group ('WMPG') of Spirax Sarco is the world's leading manufacturer of peristaltic pumps, which will now be complemented by MasoSine's unique pump technology. This will enable WMPG to offer an enhanced range of solutions, particularly for hygienic applications in the food and beverage industries. MasoSine's sales operations serving Germany, the USA and the UK will be merged into existing WMPG sales companies, and its manufacturing plant in Ilsfeld, Germany will be maintained.

The purchase consideration of €25 million (£21.9m), which will be increased or decreased subject to the final value of the net tangible assets on Completion, will be financed from a newly agreed €25 million loan facility. The acquisition is expected to provide an immediate benefit to Group earnings per share.  

About Spirax Sarco

Spirax-Sarco Engineering plc provides a broad range of fluid control products, engineered packages, site services and systems expertise for its diverse range of over 100,000 industrial and institutional customers. The Company helps its customers to optimise production capacity, reduce energy costs and emissions, improve product quality and enhance the safety of their operations. Spirax Sarco is headquartered in Cheltenham, England, has strategically located manufacturing plants around the world and employs approximately 4,200 people, of whom 1,200 are direct sales and service engineers. Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX). Further information can be found at www.spiraxsarcoengineering.com.

Contact details:

Mark Vernon         -    Chief Executive

David Meredith     -    Director Finance

Spirax-Sarco Engineering plc

Charlton House

Cheltenham

Gloucestershire

GL53 8ER

Tel: [phone]

Fax: [phone]

www.SpiraxSarcoEngineering.com

 

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