7th Jan 2008 12:08
Meggitt PLC07 January 2008 Final Release 7 January 2008 Meggitt PLC Meggitt PLC acquires Ferroperm for £10 million Meggitt PLC ("Meggitt"), the international aerospace, defence and performancesensors group, is pleased to announce the acquisition of Ferroperm, a worldleader in the manufacture of advanced piezo-electric ceramic materials forspecialist sensor applications, for a cash consideration of £10 million, net of£0.8 million debt. The transaction includes a net asset adjustment mechanism andhas been funded from Meggitt's existing resources. Ferroperm which has 54 employees is located in Kvistgaard, Denmark,and is theworld leader in the manufacture of advanced piezo-electric ceramic materials fora range of specialist sensor applications, such as; vibration, dynamic pressure,underwater acoustics and medical ultrasound. Terry Twigger, Chief Executive of Meggitt commented: "By integrating Ferroperm with our existing sensor businesses Meggitt willfurther enhance its ability to develop cutting edge sensor technologies for ourcore markets and meet the increasing demands of our customers to supply highlyaccurate and reliable sensors for harsh environments." For further information, please contact: Meggitt PLC Tel: +44 1202 597597Terry Twigger, Group Chief ExecutiveStephen Young, Group Finance Director Buchanan Communications Tel: +44 20 7466 5000Charles Ryland / Jeremy Garcia This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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