6th Dec 2006 07:03
Laird Group PLC06 December 2006 6 December 2006 LAIRD EXPANDS ITS PRESENCE IN THERMAL TECHNOLOGY The Laird Group PLC ("Laird") today announces the acquisition of Coolab AB whichtrades under the Supercool brand ("Supercool") for a total cash consideration ofSEK 120.0 million (£9.0 million) on a debt free basis. Supercool is a leading designer, manufacturer and supplier of thermoelectricmodules and cooling systems for a wide variety of end use markets. Itsacquisition will complement Laird's existing thermoelectric modules business ofMelcor, acquired in October 2005. Supercool has established design,manufacturing and sales operations in Gothenberg, Sweden and San Rafael,California, USA. The business, and its management, will become part of LairdTechnologies' growing thermal management business, which complements existingglobal market leading positions in EMI and cellular wireless antenna productsand solutions. The acquisition of Supercool is a further step in Laird's strategy to developglobal market leading positions in its core markets and establish a directpresence in key market sectors. The integration of Supercool with the existingLaird Technologies thermoelectric module business will produce benefits intechnology and product development and application engineering, while givingSupercool access to the greater customer presence of Laird Technologies. In its accounts for the year ended 31 December, 2005, Supercool generatedrevenues of SEK 47.3 million (£3.5 million). In the nine months to 30 September2006, Supercool generated revenues of SEK 41.8 million (£3.1 million), 27%higher than in the same period in 2005. Commenting on the transaction, Peter Hill, CEO of Laird said: "Laird Technologies has established leading positions in key technologies in ourcore markets. As electronic equipment becomes ever more powerful, it is criticalthat the heat generated by microprocessors and other electronic components ismanaged effectively. This acquisition provides us with additional resources,technology and market access from which to develop the next generation ofthermal management products and solutions that our customers will require." For enquiries: The Laird Group PLC Maitland Peter Hill, Chief Executive Brian Hudspith Jonathan Silver, Finance Director Charlotte Barker Tel: 020 7468 4040 Tel: 020 7379 5151 Laird Technologies: Laird Technologies is the global market leader in the design and supply ofelectromagnetic interference (EMI) shielding, thermal interface products andwireless antenna solutions for all sectors of the electronics industry,including telecommunications, data transfer and information technology, as wellas to the automotive, aerospace and defence, consumer electronics, medical andindustrial markets. Its products, often co-designed in conjunction withcustomers, are critical in protecting or enhancing the performance of electronicdevices. Supercool: Supercool was founded in 1986 and has focused on the development and manufactureof thermal electric coolers, primarily for the European market. Supercool have awide customer base across a number of market sectors includingtelecommunications, IT, medical, industrial and automotive. Pavel Cech, thefounder and majority owner of Supercool, will retire following the acquisitionbut will remain as a Consultant to the business. The senior management ofSupercool will remain with the business. Melcor: Melcor was founded in 1959 and has been at the forefront of the development andmanufacture of thermoelectric coolers. The business operates from a facility inNew Jersey, United States, and through its subsidiary MHY in Quanzhou, China andemploys 76 people in the United States and 224 in China. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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