Studsvik Polymer Acquired for £1.8m

Bodycote International PLC 4 January 2000 For further information, please contact: David Landless, Finance Director Tel: 01625 505300 Bodycote International plc Edward Bridges Tel: 0171 831 3113 Financial Dynamics Bodycote expands its European testing business and acquires Midlands coatings company Acquisition of Studsvik Polymer AB Bodycote International plc, the international metal processing group, announces the acquisition by its materials testing division of the business and assets of Studsvik Polymer AB ('Studsvik Polymer') of Sweden from Studsvik AB for a cash consideration of SEK 24.2 million (£1.8 million). The business now operates under its new name of Bodycote Polymer AB, and will provide lifetime testing of plastic and polymeric materials to its customer base of resin producers, plastics manufacturers and end users. Adjusted pre-tax profits of SEK3.8 million (£280,000) on sales of SEK18.5 million (£1.4 million) are expected for the year to 31 December 1999. The book value of the assets acquired is SEK3.5 million (£260,000). The acquisition of Studsvik Polymer is further development in Bodycote's strategic goal to broaden the base of its testing group by diversification into new materials which, in many cases, are being used to replace traditional metal components. Acquisition of Hemus & Pearson (Electroplating) Limited Bodycote International plc, the international metal processing group, announces the acquisition by Bodycote Metallurgical Coatings Limited of Hemus & Pearson (Electroplating) Limited ('Hemus & Pearson') based in Dudley in the West Midlands, for a cash consideration of £550,000. Hemus & Pearson specialises in zinc electroplating for customers in the automotive sector, and made operating profits of £82,000 on sales of £344,000 in the year to 30 September 1999. Net assets acquired amounted to £445,000. Hemus & Pearson's managing director, Mr Kenneth Hemus, will be joining Bodycote's metallurgical coatings division and in due course, the company will be merged with the division's main operating site at Wolverhampton. Bodycote International plc offers a range of metallurgical processing services from 195 sites in 19 countries.

Companies

Bodycote (BOY)
UK 100

Latest directors dealings