HALMA PLC
14 July 1999
HALMA ACQUIRES ASIAN ELEVATOR
COMMUNICATIONS COMPANY
The Directors of Halma p.l.c. announce that on 14 July 1999 the Group
completed the purchase of the entire share capital of E-Motive Display Pte
Limited ('E-Motive'), a Singapore based manufacturer of visual displays and
communication products for the elevator industry.
This acquisition further strengthens the Group's position in elevator safety
products in which Memco, Janus and EMS enjoy market-leading positions. Memco
and Janus supply safety edges that prevent elevator doors from accidentally
closing on passengers while EMS systems provide instant external communication
for trapped passengers. E-Motive's primary markets are in the Far East.
World-wide, our Group companies are well positioned to provide access to
additional markets.
Audited accounts for E-Motive for the year ended 31 December 1998 show sales
of Sing$7,856,000 and profit before tax of Sing$974,000 stated before
deduction of non-recurring vendors' bonuses. The cash consideration is
Sing$5.9 million with an additional Sing$3 million cash available on a two
year earn out basis. The three directors, Lim Lian Hwa, Tan Wai Kuan and
Au Kum Chuen will continue with the company under two year service contracts.
Stephen O'Shea, Halma Group Chief Executive commented 'In the Group's
Preliminary Announcement last month, 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.
'E-Motive is our sixth acquisition in 18 months. 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 all clearly indicates the Group's commitment to
enhancing its position in global markets.
The effect of making these acquisitions is to further improve the focus of the
Group on its key strengths.'
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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