17th Jan 2005 13:09
Scottish & Southern Energy PLC17 January 2005 17 January 2005 SCOTTISH AND SOUTHERN ENERGY ACQUIRES 'BPS' - ELECTRICAL CONTRACTING FIRM Scottish and Southern Energy plc ("SSE"), has completed the acquisition fromAlfred McAlpine Utility Services SE Ltd, of the assets of its Business Power andSystems operation ("BPS"), the electrical contracting operation of what waspreviously Eastern Contracting. The transaction has a total value of around £3 million deferred cashconsideration, which includes work in progress, assets, debtors and goodwill. SSE's Chief Executive Ian Marchant said: "Eastern Contracting will complementour existing businesses very well. It has a similar background and business toSEC and, as part of our contracting group, will have significant potential toexpand. The acquisition is, therefore, a useful step forward for our contractingbusiness and for SSE as a whole." The business is based in Bury St Edmunds, with offices in Colchester,Peterborough, and Welwyn and will now trade as Eastern Contracting. Included inthe acquisition is its high voltage business based in Bridgend, South Wales. Thebusiness being acquired by SSE has an annual turnover of £12 million and employsaround 200 staff. The acquisition will expand SSE's contracting group further. It alreadycomprises Southern Electric Contracting (SEC), which also trades as HydroContracting in the north of Scotland and SWALEC Contracting in Wales, plusThermal Transfer, and employs over 3,000 engineers, electricians, pipe fittersand support staff throughout the UK, operating from more than 40 regionaloffices. SSE's contracting group has four main areas of activity: industrial, commercialand domestic mechanical and electrical contracting; electrical andinstrumentation engineering; street and highway lighting; and specialistcontracting for the turnkey design, build and refurbishment of facilitiesrequiring a 'controlled' environment. For Further information contact: Alan Young Director of Corporate Communications 0870 900 0410 Denis Kerby IR and Media Relations Manager 0870 900 0410 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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