Acquisition

7th Feb 2005 07:01

Cobham PLC07 February 2005 07 February 2005 ACQUISITION UPDATE WA Systems Ltd, UKChelton Defence Communications Ltd (CDC), the land communications specialistwithin Cobham plc's Chelton Group (Chelton), has acquired 100% of the shares inWA Systems Ltd (WASL) for a consideration of £1m cash with a further £3m payableupon the company meeting agreed performance targets. The acquisition, fromEmblem International Ltd, was completed on 20 January 2005. WASL specialises in software and hardware solutions primarily in the aerospaceand defence domain. Its Battle Management Systems support Soldier, Vehicle andNaval platforms. Existing BattleHawk and WaveHawk products form the basis ofcurrent and future developments which include unique Soldier C4I (Command,control, communications, computers and intelligence) solutions for a number ofmodernisation programmes around the world. WASL will now trade as a division of CDC and continue to operate from itsexisting facility in Exeter. All staff are expected to remain with the company. Mastsystem Int'l Oy, FinlandIn addition, Chelton's Racal Antennas Ltd announces it has acquired the sharesof Mastsystem Intl'l Oy (Mastsystem) for a consideration of €12m cash on a debtfree basis, of which €3m remains within the company. The acquisition wascompleted on 01 February 2005. Mastsystem, based in Joensuu, Finland, designs, manufactures and marketstelescopic mast systems for use in defence markets. The product offeringincludes portable and mobile telescopic masts of carbon and glass fibrecomposite. The business will continue to be based in Joensuu. TCRMA, FranceFinally, Chelton purchased on January 31 2005 the entire share capital of TCRMAfor a cash consideration of €475,000. Based in Paris, France, the companyspecialises in the repair and manufacture of metal components and surfaces foraircraft. Due to its complementary product range TCRMA will report to Chelton's Satori,also based in France, which offers repair and overhaul of avionics and cockpitinstruments. TCRMA employs 17 people. Geoff Cooper, Managing Director, Chelton Ltd, said, 'Chelton's position in the land communications and information sector will beconsiderably strengthened by the acquisition of WASL and Mastsystem with bothcompanies showing significant growth potential over the next few years. TCRMAwill strengthen Chelton's repair and overhaul capability. The acquired companieswill in turn benefit from Chelton's increased marketing, engineering, programmemanagement and manufacturing support, plus associated infrastructure necessaryto support large projects.' NOTES TO EDITORCobham's Chelton Group has an extensive global presence with facilitiesextending into Europe, North America and South Africa. It is one of the world'sleading designers and suppliers of antennas, aircraft communication andnavigation equipment, microwave sub-systems, radomes and composite structuresfor the aerospace, defence, law enforcement and national security, search andrescue and communications markets. WASL - Established in 1989, WASL has a history of systems development andintegration primarily in the aerospace and defence domain. This systemscapability has been enhanced by development work in the railway signalling, ITand broadcast industries. For further information please visitwww.whiskyalpha.com. The BattleHawk ultra-compact range is designed to fit where space is at apremium, and will install into every vehicle from light reconnaissance vehiclesto main battle tanks, providing ground forces with complete awareness ofsupporting units with clarity of communication as well as interoperability withother forces. The WaveHawk system provides the command view within the naval operationsenvironment, allowing a means of collating and displaying data to assist incommand decisions in both wartime and peacetime operations. Mastsystem Int'l Oy has expertise of telescopic masts spanning some 30 years ofworking with mast applications for communications systems, primarily in defence.Other applications have been successful with the police, geodetic surveying,radio and TV broadcasting, emergency work and temporary illumination. Forfurther information please visit www.mastsystem.com. ENQUIRIESCobham plcAllan CookChief Executive Telephone +44 (0) 1202 882 020 Warren TuckerGroup Financial Director Telephone +44 (0) 1202 882 020 College HillMatthew Smallwood Telephone +44 (0) 207 457 2020 This information is provided by RNS The company news service from the London Stock Exchange

---

Related Shares:

Cobham