Acquisition

Avingtrans PLC 02 June 2004 Avingtrans plc Acquisition 2 June 2004 Acquisition of Crown (UK) Limited ('Crown') by Avingtrans plc ('Avingtrans') for £1.56 million. Avingtrans announces that it has acquired 100% of Crown for a consideration of £1.56 million payable in cash. Crown, which is based in Portishead, Bristol, designs and manufactures housing and stands for roadside speed cameras and gantry and trackside poles for railway signalling. Crown's audited accounts for the year to December 2003 disclosed turnover of £2.80 million and pre-tax profits of £614,000. Crown had net assets of £835,000 as at 31 December 2003. At completion, Crown had cash balances of approximately £250,000. Avingtrans financed the acquisition of Crown from new debt facilities provided by HSBC and from internal resources. Chairman, Ken Baker, commented: 'I am delighted that we have been able to complete this acquisition. We have high hopes for this business and expect that the two major sectors that Crown serves, roadside speed camera stands and housing and trackside stands for signalling equipment, will continue to offer exciting growth prospects.' Contacts: Avingtrans plc 01159 499020 Ken Baker, Executive Chairman Steve Lawrence, Chief Executive Bridgewell Limited 020 7003 3000 Greg Aldridge This information is provided by RNS The company news service from the London Stock Exchange

Companies

Avingtrans (AVG)
UK 100

Latest directors dealings