19th Jul 2005 13:24
Halma PLC19 July 2005 HALMA p.l.c. ('Halma') ACQUISITION OF NETHERLOCKS SAFETY SYSTEMS B.V. Halma, the leading safety and environmental technology group, announces that on19 July 2005 it completed the acquisition of Netherlocks Safety Systems B.V.('Netherlocks') based in Alphen aan den Rijn, the Netherlands. The vendors ofthe company are Jacqal B.V., Wolgeest B.V. and Krissan Projects B.V. The purchase price includes an initial cash consideration of €3 million (£2.07million), to be funded from Halma's current cash resources. Additional paymentsof up to €7 million (£4.8 million) are conditional on profit growth over thecurrent and following financial year. Unaudited accounts for the year ended 31 December 2004 show that Netherlocksgenerated profit before tax of €742,000 (£512,000) on sales of €2,706,000(£1,866,000). Founded in 1993, Netherlocks is globally active in the process interlocking,valve control and machine guarding markets. The business is particularly wellpositioned to benefit from the significant growth opportunities in thepetrochemical sector, one of its key markets. Andrew Williams, Halma's Chief Executive, commented: "The addition of Netherlocks will provide us with further strength in a growingmarket for our Process Safety business. Making bolt-on acquisitions of thisnature, which increase our product range and distribution capability, remains animportant element of our Group Strategy." 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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