9th May 2005 12:17
Laird Group PLC09 May 2005 9 May 2005 LAIRD SECURITY SYSTEMS STRENGTHENS PRESENCE IN COMPOSITE DOOR MARKET The Laird Group PLC announced today the acquisition of Securidor HoldingsLimited. The initial consideration, including debt assumed, is £4.5 million,with a further payment, currently expected to be approximately £1.5 million,conditional upon the achievement of profit targets and will be paid in cash fromthe Company's own internal resources. In the year to 30 September 2004 Securidorreported sales of £6.2 million, while operating profits in the 6 months to March2005 showed a 19% increase over the same period last year. Securidor supplies a range of composite GRP (glass reinforced plastic) facedentrance doors into the social housing market. The composite door market isexpected to remain a good growth sector in the UK. The enhanced security and lowmaintenance characteristics of the product make it particularly attractive forresidential homes in the social and private housing sectors where replacement isresponsible for 90% of demand. The Government's commitment to the Decent HomesStandard will contribute to this overall level of market growth. The acquisition of Securidor will supplement Laird Security System's existingcomposite door businesses - Intron Limited and Lindman Limited. The combinedbusiness will be the market leader in the UK composite door market and will beable to offer the widest range of products and services to the market. Securidorwill continue to operate from its current site but will work closely with theother Laird businesses to further develop both the social housing andresidential replacement markets. Commenting on the acquisition, Peter Hill, Chief Executive of The Laird Group,said: "Laird's ongoing strategy is to develop businesses in specialist markets withopportunities for growth where our technology and expertise provide acompetitive edge, resulting in increased shareholder value. The opportunity tocombine Securidor's product range and expertise with our existing composite dooroperations is a very positive development for the business and our customers. Byextending this range of products Laird Security Systems will further enhance itsleading position in the building products market." For enquiries: The Laird Group PLC The Maitland Consultancy Peter Hill, Chief Executive Brian Hudspith Jonathan Silver, Finance Director Charlotte Barker Tel: 020 7468 4040 Tel: 020 7379 5151 The Laird Group PLC The Laird Group PLC is a leading electronics and security systems group withoperations in North America, Europe and across Asia, employing over 8,500people. Laird is headquartered in London and is listed on the London stockexchange (LARD.L). Further information on The Laird Group is available from itswebsite, www.laird-plc.com. Laird Security Systems is the overall market leader in the UK for window anddoor hardware. Comprising of an integrated design, manufacturing, distributionand sales organisation, it provides high quality security and hardware products,together with an expanding range of uPVC profiles, serving customers in both thereplacement and new build sectors. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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