20th Oct 2006 10:50
20 October 2006 XP Power plc ("XP" or "the Group") Acquisition of XP Power (S) Pte Limited ("XP Singapore") XP, one of the world's leading providers of power supply solutions to theelectronics industry, announces the acquisition of the remaining 50% of theissued share capital of XP Power (S) Pte Limited ("XP Singapore") that it doesnot already own for a consideration of Singapore Dollars $3,006,000(approximately ‚£1,022,500) in cash.XP Singapore is XP's Asian sales channel.For the year ended 31 December 2005, XP Singapore had a profit after tax ofUS$214,899 (approximately ‚£115,500). The net assets acquired are expected tohave a fair value of approximately US$916,000 (approximately ‚£492,000) of whichUS$800,000 (approximately ‚£430,000) is expected to be cash.The Directors of XP believe that the acquisition of XP Singapore is animportant step towards gaining further coverage and building a strongerpresence in Asia which is becoming increasingly important to the Group. - Ends - Enquiries:XP Power plc 0118 984 5515Larry Tracey, Executive ChairmanJames Peters, Deputy ChairmanDuncan Penny, Chief Executive OfficerWeber Shandwick Square Mile 020 7067 0700Nick DibdenNotes to editors:XP Power plc provides power supply solutions to the electronics industry.All electronic equipment needs a power supply. Power supplies convert theincoming AC supply into various levels of DC voltages to drive electroniccomponents and sub-assemblies within the end user's equipment. XP Powersegments its business into Communications, Defence and Avionics, Industrial andMedical. By servicing these markets XP Power provides investors with access totechnology and industrial sectors of the North American and Europeanelectronics market.The market is highly fragmented and made up of a large number of small tomedium sized Original Equipment Manufacturers who source standard and modifiedstandard power supplies from several hundred power supply companies.For further information, please visit www.xppower.comENDXP POWER PLCRelated Shares:
Xp Power