Acquisition

RNS Number : 0846D

Latham(James) PLC

16 March 2011

 



James Latham plc

("James Latham", the "Company")

Acquisition of DLH UK Limited Completed

Further to the announcement made on 4 February 2011, the Board of James Latham plc (AIM: LTHM) today announces the completion of the acquisition of DLH UK Limited .  James Latham has purchased the entire share capital of DLH UK Limited, a UK based importer and trader in hardwood, from Dalhoff Larsen & Horneman A/S for the consideration of £1. In the year ending 31 March 2010 DLH UK Limited had sales of £15m (£4.5m of which was attributable to James Latham) with profits before tax of £86,000 and gross assets of £6.3m. The gross assets are primarily made up of stock and trade debtors.

For many years DLH UK Limited has been a major supplier to the UK market of tropical hardwoods, particularly from Africa and Asia, and an important supplier to James Latham. James Latham is planning to develop the business by building on existing trading relationships with both customers and suppliers and in doing so is proposing to invest £4.2m into DLH UK Limited to fund this development.

For Further Enquiries:

James Latham Plc
Peter Latham, Chairman	Tel:  [phone]
David Dunmow, Finance Director	Tel:  [phone]
Northland Capital Partners Limited
Shane Gallwey Luke Cairns	Tel:  [phone]

 

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