11th Aug 2005 09:15
Halma PLC11 August 2005 HALMA STRENGTHENS ITS WATER & ASSET MONITORING CAPABILITIES Halma, the leading safety, health and environmental technology group, announcesthat on Wednesday 10 August 2005 it completed the purchase of the whole of theissued share capital of Radio-Tech Limited (' Radio-Tech') from Brian Back andBelinda Cepe. Radio-Tech, based in Essex, UK is one of the leading manufacturers and suppliersof wireless data transmission systems to the water industry and other industriesthroughout Europe. Radio-Tech's technology will further enhance Halma's world-leading water monitoring and leak detection businesses but will also allow it toexploit growth in adjacent asset monitoring markets. The consideration is £2,000,000 payable in cash on completion plus an additionalconsideration of up to £2,500,000 based on earnings from completion through toMarch 2007. Audited accounts for the year ended 30 September 2004 show sales of£1,318,000 and profit before taxation of £205,000. Net assets at completionmust exceed £900,000. There has been significant growth in the company in theten months' trading since the last audited accounts date and the acquisitionwill be immediately earnings enhancing. Andrew Williams, Halma's Chief Executive, commented "Radio-Tech's technologyfits closely with our water leak detection and monitoring businesses whereremote data collection and processing is becoming increasingly important. Radio-Tech's innovative technologies could also have applications in other Groupsectors where wireless communications to collect data from sensors monitoringassets is growing." For further information, please contact: Halma p.l.c. +44 (0)1494 721111Andrew Williams, Chief ExecutiveKevin Thompson, Finance Director Hogarth Partnership Limited +44 (0)20 7357 9477Rachel Hirst/Andrew Jaques A copy of this announcement, together with other information about Halma, may beviewed on its website: www.halma.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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