The Vitec Group PLC
14 February 2002
14 February 2002
The Vitec Group plc
The Vitec Group plc announces that it has purchased the business of Aspen
Electronics Inc ('Aspen') for US$2.2 million in cash. Vitec has purchased
Aspen's operating assets and assumed certain of its liabilities, not including
borrowings. Aspen designs and assembles batteries for professional video
cameras.
Commenting on the acquisition, Gareth Rhys Williams, Chief Executive of Vitec
said:
'Aspen expands the range of video camera battery formats available from Vitec
Group companies, developing our existing strengths. The acquisition will enable
us to make further progress in European and Asian markets, building on our
strong position in the US.'
For further information, please contact:
The Vitec Group plc Gareth Rhys Williams Tel 020 8939 4650
Financial Dynamics Richard Mountain Tel 020 7831 3113
Notes to Editors
The Vitec Group supplies a wide range of equipment and services to the
broadcasting, entertainment, photographic and retail display industries.
With products distributed in nearly 100 countries, either through dealerships or
direct to the end user or corporate sector, and with manufacturing in five
countries, Vitec operates on an international basis.
Vitec is a major force in its chosen specialised fields.
This information is provided by RNS
The company news service from the London Stock Exchange
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