Bodycote International PLC
9 February 2000
Bodycote International plc
Bodycote acquires Alpha Braze, Inc.
Bodycote International plc, the international metal
processing group, announces the acquisition of the whole of
the issued share capital of Alpha Braze, Inc. of Fremont,
California.
Alpha Braze is one of the largest technical commercial braze
and turnkey assembly suppliers in North America, and serves
primarily the semiconductor and electronics industries. Mr
Richard Penrose, Alpha Braze's former owner, will join
Bodycote with responsibility for operations in Northern
California.
Consideration for the purchase was US$6.8 million (£4.2
million), which is being satisfied as to $5.8 million (£3.6
million) by the issue of 1,375,545 shares with the balance
of $0.97 million (£599,000) paid in cash.
Alpha's sales for the year ended 31 December 1999 amounted
to US$4.1 million (£2.54 million), and earnings before
interest and tax on an ongoing basis were US$1.4 million
(£870,000). Net assets acquired were US$2.01m (£1.24m).
The acquisition broadens Bodycote's brazing and assembly
services and expertise already offered in Southern
California, the Southwest, Midwest, and New England markets.
Enquiries:
John Chesworth
Chief Executive
Bodycote International plc Tel: 01625-505300
Martyn Wilton
Director
Bodycote International plc Tel: 001-978-470-1620
John Hubbard
Director
Bodycote North America, Inc. Tel: 001-214-904-2427
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