The Vitec Group PLC
05 May 2006
5 May 2006
The Vitec Group plc
Launch of Bogen Imaging Japan
and
Investment in Media Numerics
The Vitec Group plc (Vitec) announces that it has acquired the Japanese
photographic distribution activities for its Manfrotto photographic and video
camera and lighting supports and its Kata photographic bags, from Honjo & Co in
Kobe, and for its Gitzo photographic and video camera supports, from KFC Ltd in
Tokyo. The acquisition cost, including inventory and goodwill, is approximately
£1.4m. A new Vitec company, Bogen Imaging KK, will commence trading on 1 June
2006.
In addition, Vitec announces that it has acquired a minority shareholding in
Media Numerics Ltd. Vitec will also provide certain loan finance, which will
result in a total investment over the next 12 months of approximately £1.0m.
Based in Frankfurt, Media Numerics designs and develops innovative real-time
network solutions for live performances, a market already served by Vitec's
Clear-Com, Avenger and Litec brands.
Gareth Rhys Williams, Chief Executive, commented:
'These are exciting developments for Vitec. Japan is a very important market
for us and we believe that establishing our own distribution business there will
lead to increased sales of our products, as well as an enhanced service for our
Japanese customers.
'The Media Numerics management team has a proven track record in the
professional audio world and Vitec is delighted to be able to support the
business in this dynamic start-up phase of its development.'
Contacts:
The Vitec Group plc Telephone: 020 8939 4650
Gareth Rhys Williams
Alastair Hewgill
Financial Dynamics Telephone: 020 7269 7121
Richard Mountain
Susanne Walker
Notes to Editors
About The Vitec Group plc
The Vitec Group plc supplies a wide range of equipment and services to the
broadcasting, entertainment and photographic industries. Its products are
distributed in nearly 100 countries, either through dealerships or direct to the
end user or corporate customer. Vitec Group companies are major forces in their
chosen specialised fields.
More information can be found at: http://www.vitecgroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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