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Alumasc Group Plc (ALU)

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Tuesday 01 May, 2007

Alumasc Group Plc

Acquisition

Alumasc Group PLC
01 May 2007



                                   
Tuesday 1 May 2007

                              THE ALUMASC GROUP PLC

                   ALUMASC ACQUIRES LEVOLUX FOR £13.5 MILLION

Alumasc (ALU.L), the premium building and engineering products company,
announces the acquisition of Levolux Limited and Levolux AT Limited (together,
"Levolux"), the UK's leading supplier of solar shading systems for buildings,
for a total consideration of £13.5 million.

Consideration

The consideration will be satisfied by the payment of £12.3 million in cash and
the issue to the vendors of 541,760 new ordinary shares in the Company
equivalent to £1.2 million at a share price of 221.5p1. The vendors of Levolux
have undertaken not to sell any of the new ordinary shares for a period of at
least 24 months. The £12.3 million cash consideration was met from a new five
year revolving credit facility provided by Lloyds TSB Bank plc.

Levolux

Levolux designs, manufactures and installs internal and external shading systems
which are used to control the impact of sunlight on a building's internal
environment. These systems, which include Brise Soleil, Aerofoil Fins, Louvres,
External and Internal Blinds, are increasingly specified in new buildings and
refurbishment projects in order to improve energy performance and the comfort of
occupants. As a result of working closely with architects and other specifiers,
Levolux systems are frequently an integral part of a building's functional and
aesthetic design.

In the 11 months to 31 March 2007, Levolux's unaudited operating profit was
approximately £2.5 million on turnover of £19 million, compared with audited
operating profit of £514,000 (after deducting bonuses to the owners) on turnover
of £15.9 million for the year to 30 April 2006. At 30 April 2006, it had net
assets of £1.8 million and gross assets of £6.6 million.

Levolux operates from two leasehold sites, one in Harrow, Middlesex, and the
other in Gloucester. It is Alumasc's intention to continue the development of
Levolux from its present sites.

Reasons for the Acquisition

The acquisition of Levolux fits at the core of Alumasc's strategy to develop the
group's high performance building products activities. Alumasc is already a
supplier to the building industry of 'sustainable' products such as Zinco green
roofs and Gatic Slotdrain. Levolux will add significantly to Alumasc's portfolio
of sustainable building products and will grow the opportunity, believed to be
substantial, for developing markets for these products outside the UK.

The existing team, including John and Pamela Stern, the two principal
shareholders, will continue to manage Levolux.

Chief Executive, Paul Hooper, commented:
'The opportunity to acquire such a high quality brand leader in the sustainable
building products market does not often present itself.

With the introduction of the updated Document L building regulations aimed at
reducing the UK's carbon emissions in commercial buildings, Levolux is in a
strong position to assist architects in meeting such important demands as well
as contributing to external and internal design aesthetics. We are excited to
welcome Levolux into The Alumasc Group and we look forward to building on the
success of the business to expand further in the UK and overseas. Levolux will
spearhead The Alumasc Group's growing presence in sustainable "green" building
products'.


Enquiries:

The Alumasc Group PLC                 Tel: 01536 383844
Paul Hooper, Chief Executive
Andrew Magson, Finance Director

Bankside Consultants
Charles Ponsonby                      Tel: 0207 367 8851



1 Application has been made for the new ordinary shares to be admitted to the
Official List and admission is expected to take place on 8 May 2007. The new
ordinary shares will rank pari passu, in all respects, with the existing issued
ordinary shares.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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