HALMA PLC
4 October 1999
HALMA ACQUIRES NEW ZEALAND ELEVATOR SAFETY COMPANY
The Directors of Halma p.l.c. announce that on 4 October 1999 the Group
completed the purchase of the entire share capital of T. L. Jones Limited
('T L Jones'), a manufacturer of door safety edges for the elevator industry.
T L Jones manufactures its products in China and New Zealand. They are sold
through its headquarters in New Zealand and its Chinese and Californian
subsidiaries.
The Group already has four subsidiaries concerned with elevator safety and
emergency communications. These are Memco, Janus, EMS and E-Motive, each
having a market leading position in its area of activity.
Memco and Janus supply safety edges that prevent elevator doors from
accidentally closing on passengers and have particular strength in Europe and
America. T L Jones makes similar products and has additional territorial and
customer coverage. EMS systems provide instant external communication for
trapped passengers. E-Motive, purchased in July 1999, is a Singapore based
manufacturer of visual displays and communication products for the elevator
industry. Our Group companies are well positioned to provide an increasing
range of products for elevator safety to customers anywhere in the world.
T L Jones enhances the Group's Pacific Rim presence.
Unaudited consolidated accounts for T L Jones for the year ended 31 March
1999, restated in Sterling, show sales of £3.4 million and pre tax profits of
£0.8 million. The consideration is £4.0 million in cash plus an adjustment
based on the valuation of net assets as at 4 October 1999 that is not expected
to exceed an extra £1.2 million.
Stephen O'Shea, Halma Group Chief Executive commented 'In the Group's
Preliminary Announcement in June, I highlighted the success of our elevator
safety companies. This acquisition complements our existing elevator safety
businesses and provides opportunities to further develop our markets in this
sector. The acquisition improves the focus of the Group on one of its key
strengths.
'T L Jones is our sixth acquisition this calendar year. In each case we have
bought a product line or a business which fits with and is closely related to
an existing Group company. This is one of the ways the Group continues to
enhance its position in its chosen global markets.'
Copies of this announcement may be obtained from the Company's registered
office for a period of fourteen days and at the Company Announcements Office
of the London Stock Exchange for two days from the date of this announcement.
Press Contact: Mr Stephen R O'Shea
Chief Executive, Halma p.l.c.
Tel: +44 (0)1494 721111
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